Bitcoin Forum

Halving day!

At least it looks like it will happen during the day (USA time)...

Best of luck to all of you for a safe and smooth transistion!


I bet it feels like Y2k... lol

Yea and it will probably be about as eventful as Y2K was  ;D

dread?
not really, sorry to dispel your misconception, known it was coming since before I opened the pool in June last year.

why do so many people treat this as a surprise? My only thought is they haven't researched how Bitcoin works.

Best
Graet

I know many pool operators take 1btc per 50 as payment.

I wonder how many are still going to take that 1BTC out of 25?

Thoughts from pool operators?

I'm hoping to continue at 2% for DGM and 4% for PPS, but really to be sustainable we need to double our block production rate ie pool hashrate. Costs are not halving...

+1 Graet

Hoping that many Pool Operators does not increase their fees.

Better to have viable pools with fees than pools falling over for lack of money to pay the bills.... miners usually are the ones that don't get paid for their work (just looking at history)...

what interests me is how the less maintained pools will go, will they change their payout scripts or continue paying 50BTC /block for a while or just fall over for other reeasons :P

I for one would be very surprised if every pool survived the block halving unscathed.

I'm expecting to see a few repeats of "ArsBitcoin".  Running a pool off donations was pretty much a guaranteed way to lose money each month unless you were small enough to fit on budget hosting, especially since smaller pools had more dedicated users that were willing to donate to keep it running.  Most pools now at least have some kind of fee instead of running purely on the hopes that miners will donate, which on most payment systems means they're guaranteed a positive BTC flow, so it's just a matter of whether or not that positive BTC flow can cover server costs.

As for my pool, I'm just running a lot of test data through all the payment processing functions to make sure I didn't screw up the dynamic block reward code somewhere over the last few weeks.  That and listening to Europe - The Final Countdown on endless repeat  ;D .

Try Laibach's version, it sounds less gay  ;)

http://www.youtube.com/watch?v=o4VMDxSyLAU

didnt u mean more trashy? my ears!

As much as we dont want to see it, I think in the future it will be common place to have pools with much higher fees. Pools with low fees will fall away and miners will be forced to either pay higher fees or solo mine.

I'm hoping to continue at 2% for DGM and 4% for PPS, but really to be sustainable we need to double our block production rate ie pool hashrate. Costs are not halving...
[/quote]

Graet,
If I might be so bold, how do you plan to accomplish this?  Sure there will be an increase with ASIC's, but not sure it would double the size of our pool given the overall increase in difficulty...

I'm in the US, anything I can do to help?

-Wave

MaxBTC.com has had 0 fees all along and will continue to have 0 fees.

Graet,
If I might be so bold, how do you plan to accomplish this?  Sure there will be an increase with ASIC's, but not sure it would double the size of our pool given the overall increase in difficulty...

I'm in the US, anything I can do to help?

-Wave
[/quote]
Hi Wave,
Well it is between now and asics that concerns me most, looking like 6 weeks to 2 months before they appear.
The best advertising is word of mouth from happy miners :)
I can promote the pool till I'm blue in the face and get - oh but you are the poolop, you would say that (marketing doesn't seem to be one of my strong points) ;)

Otherwise keeping a well supported and maintained pool that has few issues, runs well and pays out fairly will continue to be an advantage.

From my side I am encouraging miners to move to stratum mining nodes so that we can reduce the number of servers we run and thus costs, we will also be decommissioning the AU www/db server and moving to cheaper hosting overseas ( bandwidth is the killer there).

I also think the next couple of months will sort out the serious players, not just miners but also pools and proxy mining services. We are active, committed to Bitcoin longterm and have always considered ourselves serious players in the market :)

I will finish with a quote if I may :)

Cheers
Graet

Don't worry, p2pool won't increase it's fee! It was 0 and 0 will be!

There is an auto fee included as i recon 0.5% goes to forrest.tv but thats ok; and you could switch it of:) ?

yes: --give-author 0

What I want to know is, is 50BTC going to change their name? :)

that has been asked in their thread several times, the answer was no