Topic: What would make you switch pools? (Read 2287 times)

It's a bit more like a kitty or community lottery than a pool fee, though. The person getting it doesn't do it for providing the pool, they get it to discourage block withholding. While you are literally earning 0.5% less if you don't find the block, and it does increase your ROI if you're "unlucky" and never find a block, it doesn't go to anyone in particular for managing nodes or p2pool authors or anyone like that, only fellow miners. You don't have to like that, but as you say, it's still pretty cheap for what it is.

Which perk is this?

I got that covered too. We recently hired "overly attached girlfriend" from youtube to chat with miners.

Warning: she will never let you leave for another pool.

No, he wants a chat, he's feeling a bit lonely

I think almost all pools offer a chat (on IRC).

https://bitminter.com/chat

All of the pools offer pretty much similar infrastructure and features. It just really comes downt o preference. Maybe if pools offered a chat, that would make me switch

Comparing the luck of different pools is completely pointless.

One thing you may want to look at is the orphan rate of the pools. You can look that up on organofcorti.blogspot.com though. You don't need to "test" it.

Other than that there are features, fees, etc. Many things that may be interesting. But luck isn't really.

I only point out that thread because it's the only one of its kind that I have seen.  Is seven months a valid sample set?  Is comparing earnings even valid as he's doing it?  Maybe, maybe not.  I think what needs to be considered, and you mention it, is variance.  Both Eligius and your own pool have significantly higher hash rates than p2pool, and have had that lead throughout the timeline of the experiment.  Meaning of course, that both your pool and wizkid's should suffer less from the effects of variance and be closer to the "expected" payout levels.  Also to note is that both of your pools were hit with a block withholding attack, which would indeed have an effect on the overall pool's luck and consequently on the payouts.  Look at p2pool's luck over the past 90 days and you'll see far greater than 100% - yet again showing how variance plays a significant role in the payouts of a small pool like p2pool.

I don't mean to imply that p2pool is better than either your pool or Eligius.  My last sentence in that post should have been, "During the timeframe of the experiment, payouts from p2pool were higher than the other two pools - not due to some inherent magic in the way p2pool works, but rather because of the inherent variance experienced by all pools, which is more noticeable on pools with lower hash rates."

Given a different timeframe, that experiment could have yielded completely different results.

Comparing 3 relatively small pools (all 3 are under 8% of the network) will almost always have one showing significantly better.  Had he done his experiment about 9 months ago p2pool would've been dead last by a significant margin.  Luck will affect your earnings on small pools more than anything, because the smaller you are the more you're affected by variance.

Especially true in his experiment, which was done at a point where p2pool simply finding a single block more or less than expected during two weeks would have a massive impact.  Almost the entire difference between p2pool and BTC Guild in his timeline is the difference in the second period's results.

Yes, you could certainly be the only miner on your node (I am on mine).  Didn't mean to make it an argument, and I'm sorry if it came out that way.  This very topic was indeed an argument I've had in the past, where somebody was vehemently stating with absolute conviction that it was the NODE that got the reward, not the miner.  Anyway, it appears you understand the difference, so it's all good

There are fee-free pools, an example of which is Eligius.  If you want to see a great comparison between P2Pool, BTCGuild and Eligius, check out this thread: https://bitcointalksearch.org/topic/benchmark-p2pool-vs-btcguild-vs-eligius-416933.  Long running experiment that very clearly shows p2pool doing better.

 

You guys! Changing subjects in the middle of a paragraph!

When will you learn that most btctalk members only read the beginning and ending of any given post?

On Ozcoin yeah, but this was the p2pool block finder bonus.

My reading was that it was a bonus donated by the Ozcoin's management as a celebratory reward to miners, and that it was coming out of the pool op's pockets, not out of the pool fee. So the variance does increase, but so does the expectation (compared to rounds where an extra 0.6 btc per round is not awarded).

Well, the node could be the miner, right? 
Small enough argument to pick, but yes, my error, the miner.

Pretty much summed it up.  0.5% goes to the guy who found the block, the remaining 99.5% goes to everyone else.
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I'll still argue that you don't earn less than any proprietary pool if that's your comparison.  .5% is as far as I know the lowest of the pools out there.  I'm making more than I did over at BTCGuild by 1.5% all things else the same.

the fees, i try to find a pool with the lowest amount of fees and commission

The 0.5% is awarded to the miner who found the block, not the node on which they were mining.

Pretty much summed it up.  0.5% goes to the guy who found the block, the remaining 99.5% goes to everyone else.

So if you didn't find the block, you pay some of your income to the one who did.

Psychologically it may feel great to have a block bonus, but what it means is that you earn less all the rest of the time (when you didn't find the block). Your average earnings are the same, but the variance is increased.

Not quite.  The 0.5% is "taken off the top", not donated by other miners.  The first 0.5% is rewarded to the node/miner that found the block, then the rest of the 99.5% is evenly distributed amongst the rest of the miners.

There is no fee otherwise, unless you as a pool node operator decide to put one in on your node.  And even then it only affects any miners connecting to your particular p2pool node, no others.

So when it wasn't you that found the block, you pay a 0.5% fee to the block finder? That will just increase your variance, not give you higher payouts overall.