BitMinter only creates its own blocks. Shares are not sent anywhere else. Bitcoins + merged mining of namecoins. The word "BitMinter" is included in the coinbase of the bitcoin blocks.
I think transparency is important. If your pool op is doing something secret with your shares, it's probably because he thinks you wouldn't want to mine there if you knew what he was doing. And he might be right.
Topic: Poolops what do you do with miners shares? - page 2. (Read 4074 times)
We're (Bitlc.net) is doing the same as you guys.
Shares are generated by poolserverj WorkerMaker edition, and it verifies the shares internally.
Successfull shares that could be a solution for the block is sent to two upstream bitcoinds.
EDIT: All our blocks coinbase contain "BitLC" and our vote for P2SH: /P2SH/
We're then saving all shares (including stales/invalids) to our database.
And each 10-60min (depending on load and round length) we're calculating rewards for each worker, and then for each user.
The users are credited instantly when rewards are calculated, no need to wait for 120 blocks nor do we care if it's a orphan block or not.
Users can do payments instantly, and specifiy amount from 0.01 down to 8 decimals as you want.
So for instance - if you have 1.23456789 BTC, you can do a payment of 0.01234567 (8 decimals) to any address at any time.
We do not sell nor send shares to anything or anyone else then our own bitcoind on localhost.
--
Regards, Jim
Bit LC Inc.
Shares are generated by poolserverj WorkerMaker edition, and it verifies the shares internally.
Successfull shares that could be a solution for the block is sent to two upstream bitcoinds.
EDIT: All our blocks coinbase contain "BitLC" and our vote for P2SH: /P2SH/
We're then saving all shares (including stales/invalids) to our database.
And each 10-60min (depending on load and round length) we're calculating rewards for each worker, and then for each user.
The users are credited instantly when rewards are calculated, no need to wait for 120 blocks nor do we care if it's a orphan block or not.
Users can do payments instantly, and specifiy amount from 0.01 down to 8 decimals as you want.
So for instance - if you have 1.23456789 BTC, you can do a payment of 0.01234567 (8 decimals) to any address at any time.
We do not sell nor send shares to anything or anyone else then our own bitcoind on localhost.
--
Regards, Jim
Bit LC Inc.
Seems to be some concern in the community about what pools do with miners hashpower.
I thought it would be good to have a thread where poolops could state what their pools do. It could be a useful reference for miners and help them decide where to mine
I would appreciate it if the community could keep this thread "clutter free" there are plenty of places this can be discussed in depth
There appears to be two schools of thought
1: as long as miners are paid for their shares poolops can do as they please with the hashpower (hop, merge mine other chains etc)
2: shares were invented so pools could keep track of work to pay miners
I'll go first
Ozcoin Pooled Mining Pty Ltd follows the second view
Bitcoin Pool
Merged Mining shares are submitted to bitcoind and namecoind for verification on ports 8332 and 80
Bitcoin only shares are accepted on port 8331 and are not submitted to namecoind and have no aux longpolls
Litecoin Pool
Litecoin on ports 9332 and 80
Thats it.
Thanks
Graeme Tee
Edit: thanks guys - good point all our blocks have [email protected] /P2SH/ since we started using ecoinpool
I thought it would be good to have a thread where poolops could state what their pools do. It could be a useful reference for miners and help them decide where to mine
I would appreciate it if the community could keep this thread "clutter free" there are plenty of places this can be discussed in depth
There appears to be two schools of thought
1: as long as miners are paid for their shares poolops can do as they please with the hashpower (hop, merge mine other chains etc)
2: shares were invented so pools could keep track of work to pay miners
I'll go first
Ozcoin Pooled Mining Pty Ltd follows the second view
Bitcoin Pool
Merged Mining shares are submitted to bitcoind and namecoind for verification on ports 8332 and 80
Bitcoin only shares are accepted on port 8331 and are not submitted to namecoind and have no aux longpolls
Litecoin Pool
Litecoin on ports 9332 and 80
Thats it.
Thanks
Graeme Tee
Edit: thanks guys - good point all our blocks have [email protected] /P2SH/ since we started using ecoinpool
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