Topic: PeerMining.us - Mining Pool - Instant Payouts - Proportional Payouts 0% FEES! - page 2. (Read 5213 times)

Offer a small reward to the finders of the first few blocks? You'll take a slight hit financially, but if people stick around and later pay a couple of percent in fees then it could be worthwhile.
Alternatively you could try offering PPS at a reasonable fee for now and go DGM or something later - people don't mind mining at small pools if they get straight PPS anyway...

It's all planned for incentives on mining with us.  Even at a 0.5% fee, you'd think that I was trying to rob people blind of their money.  My server bill is $110/month, which, I personally don't want to pay for straight out of my own pocket forever.  I'm willing to do that for sometime, but eventually I would like some sort of ROI on my investment of running the pool (to merely pay for the server itself) and additional allocations would go to incentives and other pool services.

This pool is literally brand new and the fact that it seems we're growing fairly well daily is a good sign.  Eventually with some other payout systems fees will be incurred, but at a reasonable rate and competitive, but I don't plan to ever make this a get rich money making service.  I like to give diversity to other pools running so that things are more equal and there are things coming up in the near future that will support all of this.

I'm glad to have you with us, you do provide a great deal of hashing power, however, if you stay or go it reflects me financially in neither way, since there is no fees incurred; so I do understand if you have to jump ship at some point so that you're making money yourself.

Outside of spamming the forums, I am open to suggestions on advertising it.  I have two threads open, one in pools and one in the newbies area.  Again, I'm always open to suggestions!

I'm just saying, you need to find some way to promote this pool - once you get 100Gh/s or so on board so long as you have reasonable stability and sensible fees/reward methods then things tend to stay pretty stable 

If you do some kind of giveaway (like the race weekends at bitminter) then you might end up with a bunch more people on board...

Well of course it would be significantly less, I'm not going to beg for you to stay, however; I'm not sure what your current payout is as of right now in your estimated, but the sooner that the block is found and the more shares you submit, equals the higher payout for you.

Now work out the timeframe if I leave 

No, I will not be turning off the current reward system mid-round.  Once our first block is solved, payouts will be done, and then the new website will be uploaded and MySQL will be flushed to adjust for the new payout system.  Currently at 5.5GH/s it's time frame is:

Average  20 days, 8 hours, 9 minutes
50%   14 days, 2 hours, 21 minutes
95%   60 days, 22 hours, 23 minutes

So a MAXIMUM is ~61 days, while our average is going to be ~20.5 days at 7GH/s which we have been doing with proper miners on, not on top of if we get more hashing power.  Once this current round is over and payouts are made, will be when we update our system to reflect new payouts and reward system on a more fair payout schedule.

I trust you're not going to be changing the reward system mid-round?  

At this moment, you are a hopper - this early in a round the shares have a higher expected yield.
My mining at all at this point is however a gamble that gibbyd-btc can find enough miners to actually solve a block in some reasonable timeframe... I'll be turning off at 100k shares.

In my opinion, keep going at it, the reward right now you'll receive will be quite good seeing the total shares you have.  Again that 43% in 2 months time will ultimately not affect the following block, since our website will be updated by then with new payout/reward systems.

In terms of the time currently where it sits, though the hoppers may take care of the other 43%, by the time the current block is found, ASIC's will be released which would change the aspect of all pooled mining besides PPS and PPLNS, so as of right now with that time frame, proportional isn't a flawed system as that documentation will be outdated within a few months.

Also, with the new website update, we'll be able to reward users using a double Geometric standard, which I do believe you also use.  Again, yes, this is my first non P2Pool server I've been running, there are some learning curves that we will be adjusting to.  Potentially outdated required reading material already has been browsed, but again, a lot of this will possibly change in the next few months due to ASIC's along with us changing our reward system as well.

The first and foremost important thing on our pool is that we're upgrading our website along with our reward system and potentially adding a PPS service on top of this all.  I may be, "late in the game" for opening a pool, but the more pools that are available the more decentralized Bitcoin will be.

There's a lot of variable that will change and for the fact that the documentation provided is over a year old, I find it hard to rely on those statistics when so many things have/will change over the course of the past year and the next few months to come.

Information given has proven this wrong.  Thanks Graet for the info!

 

;;bc,calc 2400000
The average time to generate a block at 2400000 Khps, given current difficulty of 2864140.507811 , is 8 weeks, 3 days, 7 hours, 46 minutes, and 19 seconds

when you find a block the hoppers will come for 43% of the next block then leave the "regular" miners to finish it off.
Proportional is a flawed payout system that is exploited by "strategic miners" and "regular miners" lose out
It is well documented in these forums.

https://bitcoil.co.il/pool_summary.pdf
https://bitcoil.co.il/pool_analysis.pdf
should be required reading for anyone considering opening a pool

Thanks bro

btw when will we find a block lol

Right on, glad to have you!

OK i joined 

Nope.  I'm honestly not doing anything to pad my shares or do anything devious; you were showing popping around from 2GH/s to 3.5GH/s while the other user was around 4-5GH/s (more around 4.5GH/s) from the statistics area on the website.

I'm not sure what other information I could give you to settle your nerves.. but I can provide as much as possible if you still believe I'm padding.

-EDIT-

You did mention the 2.5K~ shares, which is my accumulated total shares, so perhaps you got that number mixed up with the shares this round?

actually that sounds normal pool guesses hash rate based on submitted shares or getwork rate... and both can vary.

So what I'm not understanding is... when I'm at ~3500 mh/s and another user is at ~3500 mh/s and our shares are in the 8000 to 9000 range... meanwhile your shares are close to 2500 and you're only hashing at 60mh/s

My first reaction was, that you've somehow inflated your shares.

I know it's slightly buggy because I only hash at 68 MH/s on average

68837 khash/s
68830 khash/s
68784 khash/s
68817 khash/s
68755 khash/s
68765 khash/s
68817 khash/s
68781 khash/s
68844 khash/s
68831 khash/s
68723 khash/s
68810 khash/s
68861 khash/s
68706 khash/s
68860 khash/s
68800 khash/s

and it shows me at 90-100 at times.  The shares are accurate, but I do not believe that the graphs are.

Annoying myself with posting on both threads, reply will be at this link:

https://bitcointalksearch.org/topic/peerminingus-mining-pool-instant-payouts-proportional-payouts-0-fees-113621

example at this time:

overall network statistics reports: 4080 mh/s for the pool. You're listed on top hashers this round ~90 mh/s.

Last round lists your total shares at aprox 2600 thats in the 1000 mh/s range.

-----

If it turns out buggy I'll retract my prev post. What's your actual hash rate?

The shares are logged, the front end is ~1 year old, which Xenland (the original developer) and I worked together on patching back together for it to work, so there could be some bugs in it.  I'm not sure how you calculated a 2.5 GH/s discrepancy; but I'd really like to figure out your math.