Whatever it is... it is raping us.
Hello all.
As you know Project #2 is a service that buys and resells hashing power. We started in early December with the intent of filling the need for people wishing to buy mining contracts at sane rates. The rates where 150% to 250%. We were able to fill a few mining contracts and were able to help out a few new pools and the like but most of our income has come from hopping prop and score pools. GPUMAX had the same goal as us but is a much better and polished product than what we have so most people went to him. :/
I know hopping is a somewhat controversial issue but I see no problem with it. Hopping has been know to be an issue for months and some of the pools we hop at actively advertise that they are pro hopping. Some people would say hopping steals from other miners. This is not true at all. We do not take anything that anyone else had earned. We followed the rules that the pool set (math!). Deepbit personally asked me to stop hopping his pool and I did. No one else asked. Some people might say I was lowering the profits of ignorant/lazy miners. This I will agree with and I will keep doing it so you had best evolve. It could be just as well argued that by not making the max profit of a known and public system, it would be wasteful and seen as supporting/subsidizing the weak and broken system.
I would like to point out that no one asked me if I was hopping. Maxwell went bat shit crazy and this happened
https://bitcointalk.org/index.php?topic=62139.0 but he never thought it could be hopping. I went to the IRC chan after that event and asked how the 100% plus PPS services were making money. The response was pool hopping... Some people eh? Thank you for most everyone else who stayed calm or asked me privately before going nuts.
So, why am I going public now? Because there are problems that are hurting miners beyond being hopped. I was able to control the amount of traffic to each pool and was able to reduce congestion and prevent a whole pool from being taken off line. However now that I am being copied there is no safety and pools are being taken down. Sadly for me to prevent this and stop mining at weak pools it will only increase the market share of the person who is not limiting their power and taking down pools. This is why I tried to outbid them and pay out 117%. Yes at these rates I am taking a loss. Because I am so large and the amount of prop pools to mine are so limited 117% does not cut it.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fchart.googleapis.com%2Fchart%3Fcht%3Dp3%26chs%3D450x200%26chd%3Dt%3A100041%2C78610%2C49835%2C17632%2C14127%2C13015%2C11489%2C8644%2C8400%2C6258%26chl%3Dputincoi%7CRonPaul%7Chornyrhi%7Cxxxddd%7Cpixrov1%7Cabrawork%7CTechPC%7Cbulltrap%7Csumsum%7Cwknight.%26chtt%3DTop%2B10%2BWorkers%26chdl%3D100041%7C78610%7C49835%7C17632%7C14127%7C13015%7C11489%7C8644%7C8400%7C6258%26chds%3Da%26chco%3DC6D9FD%7CFFC6A5%7CFF0000%7CFFFF42%7C00FF00%7CDEF3BD%7C0000FF%7C00A5C6%7CDEBDDE%7C4D89F9%26chf%3Dbg%2Cs%2CF5F5F5%26chma%3D10%2C10%2C10%2C10%7C10%2C10&t=663&c=VLqWfCySk8O8Cg)
I am putincoin and RonPaul. You can see I am the largest hoppers. However what is new and uncontrollable (by me) is the Rhino. This Rhino made the account on Jan 31st one day before Clipse's project became operational. Also wackywednesday on ars was formed around the same time and has the same amount/comparable hashing power, that comes as goes from each around the same. However Clipse has said often that he is not at all hopping so this is making it difficult for me to work with the other big hopper to keep these pools operating well. Clearly something needs to be done about this. I am 100% about the strength of bitcoin and making money but I will not do it at the cost of harming a pool.
As some of you know I have been pushing for for decentralization and p2p. I have been giving money to these projects as well. I wanted to keep doing this and not let people know how to industrial hop because now the flood gates will be open. Now anyone will be able to copy me and without the self control or the ability to keep pools operational. This sucks but that is evolution. Now is the time for everyone to go p2p or if you must move to a centralized pool go to something like eclipsemc. Deepbit and Slush can and will be hopped.
ABC pool is not a pool and as some of you know I proved that they were hopping when they sent us work. I never called my service a pool because we do not mine our own blocks. Also for the people fearing the 51% attacks, that is not me. Never was never will be.
Hate me or love me I don't care. Just make bitcoin stronger and safer, go p2p and get decentralized.
Thanks.
Edit: FWIW Clipse messaged me saying "Rhino" was not his miner and that I should stop stirring up the forum :/