Bitcoin Forum

www.BTCMiners.net

We're a new smaller pool working to become medium sized at first to make sure the server can handle the load of traffic in it's current configuration along with making sure the connection is capable of handling the requests that would be incoming and outgoing. (Though, high hashers are more than welcome to join!)

The pool is a proprietary PPLNS type system, it's PPLNS+Loyalty/PPS.

How PPLNS+Loyalty/PPS works is that if your miner (which we can see from the backend) has a high active rate you will be awarded when a block is found your proportionate BTC.

How the Loyalty bonus works, is that if at any point a miner is inactive for 48 hours, and not keeping their 3 hour hash rate at their average, their shares are then thrown into the "Pool Shares" category.  Ultimately it would pretty much detour any long duration pool hopping in a sense that would not really be worth while to mine at a really high hash-rate and then leave after getting X amount of shares, leaving the rest of the pool miners to finish finding that block.  However, it does allow you to pool hop to a small degree because the 48 hour window is available.  I don't want to put down the rule of saying you have to mine here and no where else, but for the security of those who do mine actively with us are then covered by that small duration window of allowable pool hopping because those miners would be coming back on a fairly consistent basis, thus making it still efficient for everyone.

How the "Pool Shares" work, is that any miner that is inactive for 48 hours, those shares are added to the "Pool Shares", then simply deducted from the total shares during the calculation for the payouts and the user will be removed from the list, to keep it clean.  If the miner joins again later on, then they would simply be added back but with a 0 share balance.  You can figure out the PPLNS+Loyalty/PPS when following the calculations below:

Block_Income / (Pool_Round_Shares - Pool_Shares) which would give you the PPS which then you would take the PPS * Worker_Shares and it then gives you the total of what you mined on top of any bonuses from miners who stopped mining in the pool for more than 48 hours.

What makes us different? Simple. Our payout system.. We punish long duration pool hoppers, it's understandable and unreasonable to think pool hopping is a bad idea.  We all want to make as much money as possible mining, right?  I feel that 48 hours is long enough to pool hop back and forth.  If you do pool hop, the length of time is recorded on the activity rate in the database so if you left the pool for 48 hours, you would have to mine at least 48 hours and 1 second for example to not lose your shares.

I'm doing this to discourage long duration pool hopping so that the pool will be efficient and have a constant hash rate and to make it successful for everyone.  So even if the pool gets a rouge miner who mines for 6 hours at 1TH/s and never comes back, his shares after 48 hours are submitted to the "Pool Shares" to be deducted from the total round shares, giving you more BTC!

The pool does have to wait for 120 confirmations before funds can be disbursed among the active miners, so there is a small wait time of somewhere between 12 and 24 hours before the payout would take place.  (I initially thought we might take from the total pools funds, like 2% of each block found until we have 100% or 25~ BTC for instant payouts as it would eventually just be the pool buffer for instant payouts.  Might be a little bit of a headache at first but the pool wouldn't keep those funds, even if we shutdown those funds would be split between all the current active miners, encouraging members to stay even longer!)

The pool has a 0% fee, though donations are always welcome:
BTC Address: 1EF9HUfdLqK5zeszv49u7oLiUJznjrcwev  (or in my signature!)

To connect to BTCMiners.net you simply need the following information:

Hostname: http://stratum.btcminers.net
Port: 3334
Username: Your BTC Address
Password: Anything You'd Like

If you use command based mining software you would connect with the Hostname as follows:  Hostname: http://stratum.btcminers.net:3334

If you're using a GUI, more than likely the first way of connecting and simply just plugging in those values will get you up and running!

I hope to see some miners here soon.  I am working on the website, at least the stats that are necessary are showing but will be working on having more statistics available in the near future as the pool progresses.

If you have any questions on how the PPLNS+Loyalty/PPS works that wasn't explained to your satisfaction, please do not hesitate to PM me so I can help better explain; however, I'm hoping it was sufficient! ;)

New pool with interesting payout fees.  Feel free to check out the main topic here:

https://bitcointalk.org/index.php?topic=293273.msg3140882#msg3140882

Hope to see some new miners!!

Happy Hashing,
BTCMiners.net

Nice idea of the steam game giveaway per block. How do you get the money for that if you have 0% fees?

Out of pocket. :)

Wow, do you ever think that you are going to make it back ???

You cant run a business off of donations...

Hello!

I'm very interested in buying a few GH/s from BTCMiners. Could you please give a little more info about how and where you'll be running the hardware? What type of miners will you be using/have bought? When will they be up and running?

Will you accept another form of payment other than BTC?

Cheers!

You realize that none of the links on your site work, right? I can't see your About, Miners or Contact; nor can I search by address.

I did just buy 1GH from you, though, so here goes nothing ;D

you website is btcminers.net? seems pretty empty.