Bitcoin Forum

I have a question for GPUMAX users:

Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.

GPUMax isn't a pool.

Your miners connect to GPUMax.

GPUMax then sends your hash power to your pool of choice.

Whenever GPUMax can lease your GPU for more than your pool is paying you, they do it and pay you more.

Therefore, GPUMax has to pay you more, as it only actually kicks-in whenever they can pay you more.

Alright, that sounds nice. But has anyone ever rented your hash power?

I don't see the reason why anyone would want to rent, they would have to pay more including the markup than what they would earn.

My hash power is rented 50-70% of the time (for around 10-20% more than solo mining would pay).

There a few different reasons to rent hash power, most are nefarious, and the two big ones are to wash money or hop proportional pools (although pool hopping isn't possible for those renting from GPUMax). Somebody is profiting off your GPU in some way or another.

Some people do use it as an easy to to buy Bitcoins (Ie, rent GPU's via PayPal and use them to mine), but AFAIK GPUMax only allows people to rent using Bitcoins, so that one doesn't apply to GPUMax either.

Another legitimate reason is to use your GPU to merge mine, so they actually get the Bitcoin's mined + other crypto-currenices mined. This is usually only 1-2% more profitable though, not near enough the rates GPUMax renters are paying.

Lol, so this is a great way to launder tainted bitcoins.

Yep, because there are no previous transactions for freshly-mined coins, but I find it hard to believe they would pay such high rates just to launder coins, there are much cheaper ways of doing it.

IMO both GPUMax and BCS&T (both ran by pirateat40) are both pretty sketchy services, we really don't know how GPUMax can pay so much to miners, and how BCS&T can pay up to 28% interest/mo on deposits.

I take my chances with GPUMax due to the daily payments, but won't be touching BCS&T anytime soon.

My thoughts on it as well, I'll take my chances on losing 10-20 coins not the hundreds+ you stand to lose on the latter if it goes tits up.

 20% more than with usual pool? You sure?
 On other side it's more profitable for others to rent mhashes there, so not need pay for electricity, which is a huge plus. Maybe it's more profitable way for some than to mine with own rigs.
 How to register there btw? I've entered my mail around 1-2 months ago. No response.

Of that 1.2 BTC you got to mine 1 BTC how much will be left after you pay for your electric expenses?

Why not just keep your 1.2BTC and not mine at all?

If your mining for fun, it makes sense, but for a profit it doesn't.

Answer my question. Don't walk around it. I'm curious to know.
I know it doesn't make sense. Especially when he only accepts Bitcoins for payment :P

According to my calculations, If you mined with a BFL Single, it would take 2 days to mine 1BTC. The electricity cost (at €0.15/kw) would be €0.576, which is 0.14BTC.

That means you would make a profit of 0.86BTC.

If you decided to lease through GPUMAX, you'd be making a loss of 0.2BTC. That's also being optimistic as I've occasionally earned 150% PPS via GPUMAX. Thats also not including GPUMAX's profit, so its likely closer to 0.7-0.8BTC loss.

That's a nice ROI. Ofcourse there is more to it, like hardware costs, time spent taking care of the farm, etc.

It takes roughly 6-12 months to pay off an FPGA (BFL single is $600 + $80 shipping).

Some people have no money sense at all. First you go blabbing about price per shares and now in another thread. Do you have no common sense or what? Always one fool trying to ruin a good thing for everyone. You have screwed up the price per share once. It's not just your business your blabbing about and this was already explained to you once. Shut up already...

since i joined i have gotten around 140% pps rates (including non leased work)

the last couple of days have been great and i have been getting a solid 0.00004 pps

Why do I feel like people who talk about the PPS should be kicked from GPUMax?

.., you can easily find out current pps rates by taking 10% off the current purchase price....

what the fuck is your problem?

Your ignorance..

Wow, you may win the prize for winning my hatred earlier than any other, enjoy the perpetual dick in mouth of shame.

I been running at .00004 too and they are leasing 100% of my shares so far.

My math could be wrong ... but I am making about .01 every minute that passes on GPUMax (with about 10.5Ghash).  FAR more then any other pool.

Can someone please remove this thread? It reduces my profits... ::)

Seconded.

Those numbers will not be working for much longer if you keep bragging to the whole world about it...

I personally think that providing information openly is far more important than someone's bottom line. Regardless, the GPUMAX PPS price is commonly known, and easily derivable - it isn't secret. This thread isn't going to crash the price, lower your profits, and ruin your life. Calm down.

lol, idiot

Yup, purely coincidence that the price per 20,000 shares has gone down 0.3 BTC since the last batch of invites and discussion of the PPS price started.   ::)

wow, the price drops so low now.

Nope, it couldn't have anything whatsoever to do with difficulty changes and backlog depletion. Must be those evil people revealing the closely-held secrets of GPUMAX.

http://image.bayimg.com/jaomfaadm.jpg

Paint me stupid but the PPS is not a secret to anyone... What is "secret" is the asking price of miners + GPUMAX's own cut, which should be possible to be calculated if you monitor the variance in price over a period of days and average.

You can estimate the 10% commission all you want, but the system is dynamic.  Every time a (larger) miner lowers their cost per share, the average decreases.  As we all scramble to maximize our return we end up shooting ourselves in the foot. 

When someone publicly posts a price and how much lease work they're getting it causes a bunch of other people to adjust to try and get more leased work.  However, at some point the increase in lease work does not outweigh the decrease in PPS because too many people are doing it as a direct response to the public posting.   Case in point: Before this thread I was leasing near 100% at a decently higher price than was posted by the OP.  After this thread, that dropped to about 25% because those who were only getting 50% leased at a PPS above what I was at all dropped theirs to chase 100%.

aha!

It's a good thing everyone lowered there prices now, even though the difficulty just dropped 8 percent.

I actually raised mine, since the price was getting close to what I was getting at my backup pool anyway.  To hell with the normal priority shares if they are the same as my back up.  Might as well just go for the high priority shares and get paid more than all the asshats who drove the price so low to begin with.   ;D

Last 10 rounds on ozcoin with DGM avg = 0.000089726 per share.

Sometimes luck pays more.  One round my shares were worth 0.00218283, lowest ive gone was around 0.00000776, but that was a rare 9hr round.

kind regards

ve
What were the actual payouts on those blocks though?  Blocks found in rapid succession under DGM yield decreasing block payouts.  IIRC the worst DGM block payout I've seen was 36 BTC.

Yeh, DGM doesnt pay the whole block everytime ie. prop method, so those PPS rewards estimates are indicative on the block luck and not the block payout.

That was indicative of the payout.  Just some lucky rounds in there.  And for that 10 round period, that was my average payout per share, ie : total payout / shares / rounds.

Block payout history here : http://ozco.in/content/block-history-bitcoin

There was a 32btc block that took <20 mins.

kind regards

Not sure how coinotron setup their DGM parameters but they did a 8.3320 BTC block payout :P

indeed but remember
Blocks found in slow succession under DGM yield increasing block block payouts (so sometimes we pay more than the whole block)
that is how it works
short blocks we hold some funds to pay extra on long round, along with paying out across round boundaries this is part of what makes DGM not hoppable but fair in its payouts :)

http://coinotron.com/coinotron/AccountServlet?action=statistics they have paid out 8.3320btc for one block 90.6800btc for another I think they must have pretty extreme settings :)

How do I know my rate at slush so I can set my gpumax price properly?

Slush is proportional so your effective PPS rate fluctuates depending on the total number of shares it took for each round.  You'd need to take a running average of your payout in terms of the number of shares you submitted for each round vs the total number of shares in each round.  Slush does not give you that information so you're pretty much boned on getting actual numbers.

You can try adding up the 'U' numbers for all of your miners and multiplying the total by 1440, let's call this value 'A'.  Then, add up your rewards from Slush for one day.  Call this 'B'.

Divide A by B, and you've got a (very rough) estimate of your PPS rate.  You'd have to do this for a number of consequtive days and average out the PPS rate to get an idea of what you're actually earning since Prop pools are subject to variance.

Ok thanks

why are you so certain this thread has anything to do with it?

this is same BS I read last time ppl were invited en masse

wouldnt the more likely conclusion be that the supply is outpacing the demand?

Because:

A) I've watched it occur in real time over three independent threads.

B) Pirate has stated as such

C) People are greedy. 

a) yeah, each time after people were invited.   see page 2 of this thread.

b) well.... i guess i don't even have to say anything to that

c) isnt relevant..   if people were greedy, then supply outpacing demand would lead to the conclusion that I wrote above

A) Assumption.

B) Are you trying to be facetious?

C) If you don't think human psychology plays a role in all of this, I fear you're sadly mistaken.  I can agree to disagree.

I have tried it for a few days and for this period my hash rate dropped on my pool. I wouldn't know why that is.

Also GPUMax was sending me very few work, even though my bidding price was pretty close the normal PPS.

So in the end it wasn't worth for me so I returned to using my pool directly.