Bitcoin Forum

I'm proud to introduce GuildMiners - a new mining pool aimed at the newbie, non-technical user.

Once we release our custom mining client, we will be hiding all the technical details from the user.  In the meantime we have launched our pool for internal testing.  If you could join and throw a few MHashes our way it would greatly help us, and the bitcoin community as a result!

Our pool pays you 97% of what you mine.  We then pay you 1% of the coins mined by users you have directly referred.  Additionally, we pay you 0.5% of the coins mined by users your referrals have brought in, and even 0.25% of the users they attract.  That is four levels of payments, and the potential to make a lot more than you would mining at any other pool.

Rewards are updated in real time on our account screen.

http://guildminers.com

Dunno if i should continue reading.

One word: There shall be no custom mining client. We use what we want. Period!

I understand that the technical users of this forum may be turned off by this, but that is because we are aiming at the non-geek, non-bitcoin user.  Right now with your own client you have to set up a miner name/password, download your mining client and set the flags, point it to the proper place, etc, etc.  A lot of technical details for someone who just wants to make a few bucks from home.   A custom client will allows us to bypass all the technical details and get the user up and running just by entering a username and password once.  Our custom client (when launched) will have an advanced area where you will be able to customize your flags.

There IS an option for you to create a "custom miner" in our site, which essentially is what you want - you create the miner info and use whatever client you want.  This is where we are asking for help from the current community to help us test our pool before we launch our offline advertising campaigns.

Martin

Referrals only lead to spam on these forums here and don't guarantee a good pool performance or many miners at all - just take a look at triplemining for lessons learned!

Also your name is similar to BTCguild... what does hash collission bruteforcing have to do with "guilds" anyways?!

Misleading topic title btw.! You _can_ make more than 100% (maybe, if you refer lots of people) but it is for sure not guaranteed and everyone has a 1.25% fee that goes to the pool + 1.75% to referrals (if there is noone referreing you, probably this even goes to the pool too).

Oh and a last thing: I really hope you make your miner Open source! I'd never ever trust a Closed Source mining program.

Nothing in life is guaranteed.  The success of the pool depends as much on the miners as it does on our efforts to recruit them.

And obviously, spam won't be tolerated.  We've been through this before and are prepared to deal with it appropriately.


Lots of pool names are similar... is this a joke? The internet medium sometimes makes these things unclear.


Simple calculation: You earn 1 BTC via mining.  We pay you 0.97 BTC for your mining (0.03 BTC fee).

Your level 1 referrals earn a total of 25 BTC via mining. We pay you 1% of those earnings, or 0.25 BTC.   You've just earned back 91.6% of the fee you paid. If those level 1 earnings were 100 BTC, you'd get 1 BTC, 300% of the fee you paid.  If you have lots of referrals in the other levels too, you'd be getting more than your own mining earnings of 1 BTC, thus the title Martin chose for the post.


Absolutely.  I wouldn't even consider otherwise because I too won't trust a closed-source miner.

I'll be putting all the code for our pool and the miner up on github. Links to that coming soon, some of it needs some cleanup.

Sukrim is right, just look at Tradehill, they missed out on a lot of quality customers
because people were turned off by the massive referral spam during their launch.

You say spam wont be tolerated but that's exactly what will happen
if you offer people potential money just for copy+pasting a link as much as possible

25BTC Lvl1 referrals means you alone have to refer 50%(!) of the total pool hash rate! 100 BTC are not even possible, per block the whole pool can only earn ~50 BTC.

Oh, and whcih payout method do you want to use?! I hope not prop...

I appreciate your concerns - we both do and it's something we both have very much on the top of our minds.

I won't try to convince you that the problem you posit isn't as big as you might think... we'll simply have to show you.

FWIW, no money is offered simply for copy/pasting links. Even merely for someone signing up.  They have to contribute via mining, too.


My example didn't specify that would be on one block.  Either way, the point is that what you earn from referrals can dwarf your own earnings and any fees the pool collects.

Right now your biggest problem is attracting users to earn hashrate. At 600 MHash it will take you months to get a block. You need a few GHashes to get started.

I like the idea of having an optional simple client for new users. The referrals don't bother me that much. Everyone is doing it anyway...

Its like Compute4Cash with higher payouts but with no external payment processors involved. C4C also offer the referral system with 2% of the amount mined by the referral (the 2% is not from earnings of the new member but from the pool operator). Right now, you can only earn about 2/3 (in US$) in C4C compared to what you can earn if you mine BTC directly from other pools. Custom client and configured via the website. I used to mine there before I found out about Bitcoins last March.

Btw, their client can use all gpus (even mixed ati and nvidia) and cpus if you configure it to use all opencl capable devices.

I know!   ;)  That is why we prematurely posted on here (before we launched our client) to get some help from the community.

Why aren't YOU helping?  lol  Would it help if we lowered the fee to 0% until official launch?  I have no problem doing that.

Ok, I talked it over with my partner and we decided to adjust the fee until further notice to help us test and grow.

Our fee is now at -2%  We will pay out 51btc coins for every block solved, and pay our referral bonuses based on that amount.  :)

We had bitcoins reserved for testing purposes, and this is a better way to spend them than offering some heavy miners a bonus to help us test.  If you've already done some mining with us, you'll see your rewards adjusted automatically as soon as you submit your next share. 

Thanks!

Martin

I don't mine  8) I don't have hardware good enough for mining and I am not investing in that right now. Just browsing through the forum...

GuildMiners has solved TWO blocks in the last 24 hours.  We now have a sustained base of 22 Gigahashes.

This is your chance to get into a pool that has quick block generation (constant income) but still relatively few miners so you get a bigger piece of the pie.   :)

Correction: 3 blocks :)

Reminder, we're still paying a 2% premium on solved blocks to grow our user base!

You are aware that you were extremely lucky, right? At 22GH you should solve a block each five days or something.

Anyway, does the money appear immediately at CampBX? I earned a few bitcents, but they don't show up in CampBX's history. Is there a minimum amount for payments?

Yes, we have a minimum payout of 1 btc.  If you go to your account and select the "Transfers" tab you can see transfer into your account (payments from blocks) and transfers out (payments to CampBX).  Once your go past 1btc, your full balance is transferred into your CampBX account automatically.

Hi.  I'll sign up and start mining when it's possible to withdraw to a wallet like normal (NOT to an exchange).    Any timeframe on when this is likely to happen?

are we "allowed" to withdraw into our personal wallet ?

And are you PPS or Prop (or both)?   I know it says PPS in the title, but that's recently changed.

We are Prop.  I'm not sure what I was thinking when I wrote PPS.  I'll change it now.  :)

... hate repeating myself, are we ?

Sorry sir, I guess I missed your message and just replied to the last one.  It was not intentional :(

We are partnered with CampBX, and right now, all coins mined are deposited into their service.  Once our custom non-technical client is released, we will be attracting a lot of new users from outside the existing bitcoin community.  This policy is best for new users, who won't have the technical knowledge (or interest) to download, understand and secure a manual wallet.

That being said, CampBX allows you to withdraw coins into your personal wallet.  So, while you cannot do so directly from GuildMiners, that option is available to you with one extra step.

Martin

That's fantastic and all, great thing you're doing by not complicating the end-user.  Except I can withdraw my coins directly to my wallet with any other pool, and not giving your members that ability is kind of a turn off.

I've attached my CampBX account to GuildMiners over 24 hours ago, and my >1 BTC has yet to be transferred and there is no way to "transfer now".  It sure would be nice to have control of my currency.

Would you then cover fluctuations in exchange prices, when I can finally withdraw my coins (to wallet or CampBX), since you're keeping my coins hostage ?

Whoops!  We're spending the majority of our cycles coding our custom client and true automatic payments are not finished coding yet.  After each block is solved I go through and do all the CampBX transfers.  We haven't solved a block in a few days now and you just happened to "slip by" by attaching your account to CampBX with a higher than minimum balance when I wasn't monitoring it.  Sorry, coins have been transferred now - this was a rare occurrence.

Martin

Thanks for the transfer.

My coins are in CampBX meow.

Is your pool still running?  I don't see Hashrate or solved blocks on your site. Not really "Real Time Stats," eh?