Topic: [POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com - page 109. (Read 465716 times)

Since waffle opened the guy has prob made about 3 bucks an hour in labor put in. Now he actually wants to make some money and 2% is too much? Heh. Get real. Running a pool is a thankless job with every hacker out to get you and criminal ddos ready toruin all your work in seconds. And i am not even mentioning the clueless users who ask retarded questions over and over without using google for 10 minutes. It makes a pool op just want to say frick it and walk away.

I'm a big fan of wafflepool, have been from start. Personally as a few others suggested I feel 1% to 2% is too much of a jump, a 100% fee increase is massive when the edges are already so thin between various mining pools. 1.5% be much more of a fair compromise I feel.

That's not exactly correct.  There's one huge miner, aka THE WHALE, that has about 15-20GB of hashing power at his disposal.  He comes & goes whenever he pleases.  Basically doubles the pool hashrate whenever he shows up  

You guys have such a huge hashrate that you drop the value of mining/day/mh substantially on any coin you mine as soon as you start mining it and then further reduce the value by trading them right away for BTC. Am I wrong>? 31 GH is more than the entire global hashrate of a lot of coins and often almost half of many other more established coins

The qualifications are:
1) We only save full data for the last 1hr of stats, so if we don't find 2 blocks within the same hour, we don't have an easy way of seeing how many shares on that particular coin were mined.  That really only happens on either litecoin, or dogecoin if we skip mining it for a decent bit of time, almost all the rest of the blocks have luck tracked.

2) The luck is based on the found block difficulty, which is not necessarily the difficulty the shares were at.  For example, if we mine dogecoin as difficulty is on the rise (say some shares at 1k, and then some shares at 1.1k), then stop mining because diff is too high, wait a bit until it drops to 800, and immediately find a block.  The luck is based on all of the shares being submitted against a 800 difficulty blocks (which is incorrect for luck calculations, but good enough for my purposes).

I just worry with showing these stats that people will freak out.  Better option is for me to properly track luck values (just another thing on the list), but that has some (smaller) subtleties as well, since we buffer inserts into our database for share submissions, so data will be off based on when the block comes in compared to when shares get inserted (although very slightly).  Maybe I'll work on this in the coming days, luck would be nice to have publicly available.

@PoolWaffle:
Any chance you could you make available a table with:
EndTimestamp | Coin | Difficulty | Shares | Blocks Found

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

This is definitely an issue with any sort of password config option. (Unless it is something that can be easily handled per-connection like difficulty).

I suggest you re-read your posts directed towards me and count the number of insults that you lobbed in my direction.

You guys have such a huge hashrate that you drop the value of mining/day/mh substantially on any coin you mine as soon as you start mining it and then further reduce the value by trading them right away for BTC. Am I wrong>? 31 GH is more than the entire global hashrate of a lot of coins and often almost half of many other more established coins

So if I mine to your address with pt=500 for a little bit right around payout time what happens then?

So if I mine to your address with pt=500 for a little bit right around payout time what happens then?

How about a pt= selectable payout parameter in the "userpass" config of miners then you could still have peace of mind, still have minimum and maximum limits.  Let the user have the responsibility to decide what is a reasonable risk of loss, after all pool mining and trading is risky anywhere.  

Well, I know there are several profit increasing features that PoolWaffle has not had the time or resources to work on.  With increased revenue, maybe we'll see some of these functions come to life.  That's what I was suggesting (and would take a bet on).  I have talked to PoolWaffle previously about some fairly significant upgrades that could increase profits measurably - and I understand they have been on a TODO list.

comeonalready: Can you please avoid double posting?  It makes threads much more irritating to read.  Edit and multi-quote are great features just waiting to be used.  And really, how about cutting out the pointless insults already?

poolwaffle deserves to be fairly compensated for his work, but you are delusional if you think it is going to enable him to find some magical formula for higher profitability.  We will all be earning 1% less here from now on [...]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.