Topic: Why do you mine on deepbit? - page 3. (Read 18338 times)

Deepbit's website recently stated that it had reached 1M BTC mined.  They take a 3% fee, so 1M is 30,000 BTC, or about $150,000.  I wouldn't be surprised if half of that was taken up by hosting costs on anti-DDOS servers and refunding people for rejected shares and bad blocks.  So I don't think Tycho has a ton of money from this.

While I mine at a smaller, fee free pool... I don't hate Deepbit.  In ANY game, there is going to be a boss.  Deepbit is the boss hog in the bitcoin game.

Don't be mad because he has a shitton of money!!

Im still on deepbit because i Fucking hate having Three Open Windows just to mine.... rather than One, just like D&T had stated earlier...

We need to Pack all these multiple things into one gui!, Then P2Pool could actually spread!

I have a 20GH/s farm and use p2pool.  However like many large farmers I need to hedge my bets.  So I started w/ one rig and then a couple.  Currently I have 10GH/s.  In time I will move my whole 20 GH/s.  There is no rush.  I imagine there are many miners in the same camp.  Slowly p2pool GH/s per user is creeping up indicating the hashing power per user is rising.  Either small miners are getting rich and adding cards or it is accounts like mine where every couple days another rig gets moved over.

As far as p2pool crashing.  Use it with bitcoind.  I don't know any conventional pool which runs pool server of GUI wallet.  It is asinine to even try.  Also IF p2pool client goes down which is never has in my 30 days of testing any smart miner is using cgminer w/ failover so rigs redirect to backup pool.

I image the large miners like features like sms if a miner goes down. I stopped checking my miners a long time ago. I only check the hash rate once or twice a day and that's it. A free non prop, merged mining pool with sms is the way to go if you ask me. What else do you need?

I had the same problem when I tried P2Pool (QT crashing), so I just ran cmd line BitcoinD rather than the wallet GUI, then used Safebit (html RPC app) for wallet functions when mining.
Problem solved.

Having a better interface and less things active would be better.
Normal pool: you start the miner and that's all
P2pool: you need also bitcoin and p2pool running and hope none of them crash  (and bitcoin QT client is prone to crash with p2pool... but not bitcoind as far as i know)

My comment wasn't meant to be an insult


I just think that the 'big guys' will move away from pools once P2Pool has MORE of a track record, that's all.
I should have said it more simply, but that was the point I was trying to make.

Let the 'smaller guys' with less equipment 'test' P2Pool, because moving a big mining farm and having to watch over it to ensure everything is working properly can be alot of work

Yup, english is my second language. Maybe i shouls start write in my language and use google translator, who know...  Maybe i should translate it like 4-5 times between other languages for increased randomness...

Your point is that the "big guys" stay on other pools instead of moving to p2pool, and thus you try to imply that it's somehow p2pool fault. Problem is this is not true. It's a fact that they are NOT on p2pool. But it's also a fact that p2pool is better than a pool with fees. P2pool works, there aren't "game-breaking" bugs, payouts are received and mining work without problems.
P2pool is small but isn't so new, it has been around since a lot of time, and no one report "my btc vanished, help me" things.

Is it safe to assume, judging by your 'English as a second language' reply, you may have missed the simple point I was trying to get across in my post above and only picked up on certain points, but completely out of context ?

nonsense

Why the world don't use bitcoin? Why it's so small? Maybe paypal and dollar is better after all. But then why we are here?

Also, p2pool is open source, nothing is hidden. Performance? It's the same of a normal pool. No need to trust anything.

So since they are big they must be right? Then we are better uninstall bitcoin, we are small.

I'm not about to sit here and argue the merits of P2P mining vs. Pool Mining because we all know that decentralization is best.

NOW, in saying that, it's a wonder why more of the BIG miners (25 GH/s and larger) have not switched over to P2Pool yet. I mean, it's not due to the fact that they don't know what they are doing, because ANYONE who is able to maintain a mining farm larger than 10 GH/s obviously knows what they are doing.
What could the deciding factor be then ?....that keeps miners such as these still tied to the large pools ? Well, in short ? PROVEN PERFORMANCE.

Perhaps once P2Pool gets a rock solid 6+months under it's belt as a top 10 pool, more miners will find their way there, but for now, with an investment that is as sizeable as some have (again, the LARGE miners) it makes more sense for them to keep a solid income stream coming in from a proven side of the technology and let the smaller miners with alot less to loose, be the 'Beta Testers' for new technologies such as P2Pool.....Sound reasonable ?

As an example, the current top 10 miners at BTCGuild could easily/effectively DOUBLE the current P2Pool hashrate, but they still choose to mine at a pool to protect their investments and seem to have no problem PAYING for the privilege to do so.......

I only have 6 GH/s under my belt, as I sold off a bunch of equipment after the crash a few months ago and am now replacing with more efficient hardware, so I am a perfect candidate for P2Pool, yet I still choose to pay to have someone else ensure that my BTC income stream is guarded and remains coming in as usual.

Unless you have as much to loose, it's easy for a sub-10 GH/s miner to call the bigger miners with tens-of-thousands invested into hardware, IDIOTS for giving up profits for the opportunity to mine at a fee based pool.....but put yourself in THEIR shoes and see how your views might change.

Ok, good to know.  Maybe I'll give them another try down the road.

It actually disappeared briefly when switching from Proportional to PPS.  But that only lasted a week I believe.

BTC Guild has always had a 24 Hour Earnings counter since I have been mining there, even before they were PPS.
Sam

Do they have a 24h BTC mined counter yet?  That was one thing that bugged me big time when I tried using them... I love being able to see exactly how much BTC I have mined in the last 24 hours.

The other issue was that they went down numerous times while I was using them.  I'm sure they've used that time period as a lesson and have improved since then, but it turned me off for the time being.

Yes but P2Pool is better in anything you said.

And is really free. Because YOU host p2pool. No need to waste money on servers

Over the past 9 months, I have test-mined at well over a dozen pools...many 'top-tier' and some not so much, but regardless of what they boast as being their strong suit, or what sets their specific pool apart from the rest, 99% of them end up on the FAIL list having been nothing but a waste of time and I find myself returning back to the first pool I ever mined at as well - BTCGuild (although Slush's pool is a close 2nd for very similar reasons as listed below).

Say what you will about fees (blah blah blah....) BTCGuild is worth every bitcent that it costs to mine there.

Why I like BTCGuild:
- Good Control Panel/Front End (just the right balance of eye candy and functionality).
- Top Notch Security Features (anyone here is welcome to have my control panel password because the ONLY thing you can do is mine for me....my funds are locked SOLID).
- Instant Payouts (no confirmation delays).
- ROCK SOLID performance (the best I have experienced in the community to date, although YMMV).
- Attentive and knowledgeable Pool OP.
- Constantly moving forward with both hardware and software upgrades.

Unfortunately the best things in life are not free and often more times than not, you always get what you pay for.

I bet the bulk of Deepbit's Russian/Eastern Euro Miners feel the same way about Tycho's pool

I mine on Slush's simply because when I started mining, his was the first I saw.  So without any research or anything, I blindly jumped in and don't regret it at all.  I did try btcguild at one point, but it "felt" like I wasn't making as much, so I switched back (but still use btcguild as a backup since I have miners set up on there anyway).

Variance or pool uptime is not a good reason to pay 3% at deepbit. Just use backup pools for the downtime. If variance is a real concern then split miners up on different pools.