I'd wager that the vast, vast majority of deepbit users are NOT doing PPS. And when stales and invalid blocks are counted for the non-PPS model, the actual deepbit fee is closer to 1 or 1.5%, a fee which I am happy to pay for a service without complications that never goes dark.
I agree that Bitcoin needs to continue to trend towards decentralization, and I'm not entirely happy that deepbit holds as much hashing power as it does, but I haven't found a pool that I like as well as deepbit. *shrug*
Topic: Why do you mine on deepbit? - page 5. (Read 18338 times)
Why annoyed? How about envy?
Deepbit has created a site that allows it to generate income where other pools struggle and fail. Their success is therefore a target to some.
No one is forcing you to mine there, or pay a huge fee. Same as no one is forcing you to play roulette and lose 3% (european) or 6% (american) of your stake on average.
Lying is bad and that thing about decentralization of a decentralized currency.Deepbit has created a site that allows it to generate income where other pools struggle and fail. Their success is therefore a target to some.
No one is forcing you to mine there, or pay a huge fee. Same as no one is forcing you to play roulette and lose 3% (european) or 6% (american) of your stake on average.
Edit : WTF ? Did you just say the other half of hashing power (pools) struggle to generate incomes ?
BTW : Extremely low variance is moth as an argument because nobody actually need their 0.00001 bitcoin every next minutes.
We pay a competitive price:
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
0.00003823425 / 0.0000344108160 = ~10% FEES
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
0.00003823425 / 0.0000344108160 = ~10% FEES
Why are you pissed? Because the PPS fee is 10%?
Everyone knows DB has the highest PPS Fee. It may not say 10% , but, it does give the actual price per share which every PPS pool, that I've seen, post's as well. So it is easy to compare one PPS pool against another, even for ignorant noobs.
Sam
You'd be surprised how small is the % of people who compare PPS value, since most pool (80%+) post their fees in %.
This was the rest of my post on Bringing decentralization back to the Bitcoin network. https://bitcointalksearch.org/topic/m.706628
The problem is there aren't very many good pools to choose from. I started with DeepBit because there was some sense of security of being with the biggest pool. I switched to ABCPool because of their no fee at the time which they have since raised to a whopping 4%. Since the 4% fee their reliability has taken a dump and I have lost a lot of mining productivity due to this. If it was a 0% pool then it wouldn't be a problem but at 4% this is just unacceptable. As a result I am very seriously considering a move back to DeepBit. I don't like all the mining power concentrated in one pool but I do see the benefit of that pool. I do understand that pools take money to operate and the smaller the pool the more difficult it becomes but they do have to compete with the bigger pools and they have to remember that.
If a user with 600+ posts can be so clueless then we can't expect any better from the average Deepbit miner.
Why annoyed? How about envy?
Deepbit has created a site that allows it to generate income where other pools struggle and fail. Their success is therefore a target to some.
No one is forcing you to mine there, or pay a huge fee. Same as no one is forcing you to play roulette and lose 3% (european) or 6% (american) of your stake on average.
Deepbit has created a site that allows it to generate income where other pools struggle and fail. Their success is therefore a target to some.
No one is forcing you to mine there, or pay a huge fee. Same as no one is forcing you to play roulette and lose 3% (european) or 6% (american) of your stake on average.
We pay a competitive price:
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
0.00003823425 / 0.0000344108160 = ~10% FEES
(Sorry for size/caps, I am really pissed.)
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
0.00003823425 / 0.0000344108160 = ~10% FEES
(Sorry for size/caps, I am really pissed.)
Why are you pissed? Because the PPS fee is 10%?
Everyone knows DB has the highest PPS Fee. It may not say 10% , but, it does give the actual price per share which every PPS pool, that I've seen, post's as well. So it is easy to compare one PPS pool against another, even for ignorant noobs.
Sam
*(repost)
The main reason why people keep mining at deepbit :
DeepBit play on wording and lies to hides it's users how much they're being ripped off. (since most don't do the math from PPS to %.)
DO YOU SEE THIS ? :
(deepbit homepage)
0.00003823425 / 0.0000344108160 = ~10% FEES
(Sorry for size/caps, I am really pissed.)
"Slightly" : The term is meaningless and is being abused hard in this case.
"Competitive price" : The claim is totally false. (not a single pool have higher fees)
The main reason why people keep mining at deepbit :
DeepBit play on wording and lies to hides it's users how much they're being ripped off. (since most don't do the math from PPS to %.)
DO YOU SEE THIS ? :
(deepbit homepage)
Quote
Pay Per Share: You get a fixed amount for every share submitted. This method has zero variance but slightly higher fee (because pool takes the risk). Recommended if you like steady payouts.
We pay a competitive price:
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
We pay a competitive price:
Pay per share: 0.00003441081600403 BTC per every submitted share.
PPS Value = 0.00003823425 BTC/shares
0.00003823425 / 0.0000344108160 = ~10% FEES
(Sorry for size/caps, I am really pissed.)
"Slightly" : The term is meaningless and is being abused hard in this case.
"Competitive price" : The claim is totally false. (not a single pool have higher fees)
Shouldn't we all push for decentralized pools, like P2Pool ?
Yes.
I'd love so see a bitcoin client with p2pool-technology built in; bring back the "generate coins" option!
But... that will take a while.
...
p2pool built into a bitcoin client is something I'd fully support, I think a lot of people would like a one-button "get a trickle of bit-pennies" option.
Generate coins-> GPU/CPU? "gpu" ->Please select mining software "i choose cgminer" Okay, to run cgminer with p2pool, Add these ___ ____ ___ arguments to the miner.
the blanks being like the RPC info and the port
Shouldn't we all push for decentralized pools, like P2Pool ?
Yes.
I'd love so see a bitcoin client with p2pool-technology built in; bring back the "generate coins" option!
But... that will take a while.
...
p2pool built into a bitcoin client is something I'd fully support, I think a lot of people would like a one-button "get a trickle of bit-pennies" option.
+1 Gavin already said he would include it in bitcoin client.
but i guess its to early right now - i would wait until p2pool is a solution für really small AND really big miners (forrestv already thinking about it; atm with an p2pool around 150GH/s everybody can use it with relatively low variance)
EDIT
Searched for gavins post on bitcointalk but can't find it anymore. a few days ago a link to it was mentioned on #p2pool (freenode) - maybe its just too old to be found. Sorry
but i guess its to early right now - i would wait until p2pool is a solution für really small AND really big miners (forrestv already thinking about it; atm with an p2pool around 150GH/s everybody can use it with relatively low variance)
EDIT
Searched for gavins post on bitcointalk but can't find it anymore. a few days ago a link to it was mentioned on #p2pool (freenode) - maybe its just too old to be found. Sorry
Regarding the issue of noobs flocking to the biggest pools, couldn't that be prevented by building a P2Pool miner into the standard client instead of the solo mining feature?
Or at least offer it as a built-in alternative?
Just add gen= 1 and P2Pool=1 to your bitcoin.conf and voilà, you're mining on P2Pool.
I truly believe that we should seriously consider adding that to the client to restore the distributed computing aspect of bitcoin.
+1Or at least offer it as a built-in alternative?
Just add gen= 1 and P2Pool=1 to your bitcoin.conf and voilà, you're mining on P2Pool.
I truly believe that we should seriously consider adding that to the client to restore the distributed computing aspect of bitcoin.
Does anyone have a better idea? This is Exactly what we need
Regarding the issue of noobs flocking to the biggest pools, couldn't that be prevented by building a P2Pool miner into the standard client instead of the solo mining feature?
Or at least offer it as a built-in alternative?
Just add gen= 1 and P2Pool=1 to your bitcoin.conf and voilà, you're mining on P2Pool.
I truly believe that we should seriously consider adding that to the client to restore the distributed computing aspect of bitcoin.
Or at least offer it as a built-in alternative?
Just add gen= 1 and P2Pool=1 to your bitcoin.conf and voilà, you're mining on P2Pool.
I truly believe that we should seriously consider adding that to the client to restore the distributed computing aspect of bitcoin.
Using an usual pool instead of the P2Pool is like being fan of banks instead of Bitcoin.
You are hitting your foots
You are hitting your foots
So you don't keep some of your regular currency in a bank?
Sam
I don't keep regular currency period.
So you found a liquor store that accepts BTC?
Maybe I should have said legacy currency?
Sam
Call it what you want, I get rid of it ASAP. Yes, of course I use it for the accepted norms. But saving it, no. I use other methods to store wealth.
And funny you should bring it up, liquor is quite valuable in times of conflict. Not that I expect conflict where I live.
Sure for storing wealth it may well be prudent to use other things of value for savings. But most of us need to keep a certain amount of our local currency liquid for immediate needs. I use a bank/credit union for that purpose.
Maybe one day BTC will be used for immediate needs as well which is why I'm acquiring them. With the current economy of the world it makes sense invest in an anti-inflationary currency. But right now BTC cannot take the place of local currencies nor banks.
Sam
Using an usual pool instead of the P2Pool is like being fan of banks instead of Bitcoin.
You are hitting your foots
You are hitting your foots
So you don't keep some of your regular currency in a bank?
Sam
I don't keep regular currency period.
So you found a liquor store that accepts BTC?
Maybe I should have said legacy currency?
Sam
So you don't keep some of your regular currency in a bank?
Sam
Yes, because I'm forced by the actual situation, but that doesn't make me a fan of the banks system.Sam
So my statement is still true, no one is forced to use the old style pool.
Using an usual pool instead of the P2Pool is like being fan of banks instead of Bitcoin.
You are hitting your foots
You are hitting your foots
So you don't keep some of your regular currency in a bank?
Sam
Currently (this week) doing risk management software audit for a retail company (it's a bit dull) and advising on risk parameters/policy for a wholesale company (more interesting). Next week - don't know. Maybe I could rub your tummy for you?
So, in reality, you bill at $250/hr, are self employed and have plenty of overhead wrapped into that figure. Maybe I am arguing semantics, but as a small business owner, I can confidently sat that isn't the same as a wage of $250/hr.
What's the ticket on a belly rub?
Quite right, I actually work for someone else and my deal is I get 60%. I would prefer not to work, but it helps fill in the day and pay for my hobbies.
I'm actually quite honored to have elicited such an interesting response from you.
As for the belly rub? Probably about the same as when I had to cut my father-in-law's toe-nails.
Edit: sorry this has gone off topic. Why deepbit? It'll do for now
Using an usual pool instead of the P2Pool is like being fan of banks instead of Bitcoin.
You are hitting your foots
You are hitting your foots
I mine at deepbit - so what. It works so it saves me pissing around and spending my time making other things work. My time is worth something.
If I pay 3% on a couple of coins/day for the last six months that I've been mining (on and off) that's 11 whole coins ($50-$60) - I'm unexcited by that as it's trivial.
If I pay 3% on a couple of coins/day for the last six months that I've been mining (on and off) that's 11 whole coins ($50-$60) - I'm unexcited by that as it's trivial.
Making other things work? Are you fucking kidding? So, fifteen minutes to set up an account and point miners at it isn't worth $60? You really value your time at $240/hr? I would bet my life that you have no skill worth that much, save maybe whoring yourself out to fat chicks. Even that is a stretch.
Thanks Randy. Actually, for the work I do my charge rate is 250.
I should have also observed that keeping computers running well on something for six months or a year takes more than 15 minutes, I found that in terms of what i spend my time working on, it wasn't a huge overhead.
What do you do for $250/hr?
Currently (this week) doing risk management software audit for a retail company (it's a bit dull) and advising on risk parameters/policy for a wholesale company (more interesting). Next week - don't know. Maybe I could rub your tummy for you?
So, in reality, you bill at $250/hr, are self employed and have plenty of overhead wrapped into that figure. Maybe I am arguing semantics, but as a small business owner, I can confidently say that isn't the same as a wage of $250/hr.
What's the ticket on a belly rub?
-_-" Please notice the 8mintue up time... I was testing different miners around that time, With the 'new' cgminer that i had gotten, i had started to test features on it, And start to understand the program itself, Like in the post, I was confused about the effiecency I was also seeing what miner would work the best, And weather or not p2pool would work properly with phoenix (for the sake of a gui)
"Here is a sample of me mining overnight..."
Anyway, it's neither here nor there. I gave up whatever donation you were going to offer, in the hopes that you would stick to P2Pool for a month and be another miner to help with the variance. Oh well, P2Pool is doing fine anyway.
I mine at deepbit - so what. It works so it saves me pissing around and spending my time making other things work. My time is worth something.
If I pay 3% on a couple of coins/day for the last six months that I've been mining (on and off) that's 11 whole coins ($50-$60) - I'm unexcited by that as it's trivial.
If I pay 3% on a couple of coins/day for the last six months that I've been mining (on and off) that's 11 whole coins ($50-$60) - I'm unexcited by that as it's trivial.
Making other things work? Are you fucking kidding? So, fifteen minutes to set up an account and point miners at it isn't worth $60? You really value your time at $240/hr? I would bet my life that you have no skill worth that much, save maybe whoring yourself out to fat chicks. Even that is a stretch.
Thanks Randy. Actually, for the work I do my charge rate is 250.
I should have also observed that keeping computers running well on something for six months or a year takes more than 15 minutes, I found that in terms of what i spend my time working on, it wasn't a huge overhead.
What do you do for $250/hr?
Currently (this week) doing risk management software audit for a retail company (it's a bit dull) and advising on risk parameters/policy for a wholesale company (more interesting). Next week - don't know. Maybe I could rub your tummy for you?
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