Will you be keeping this pool open, or will it close with the exchanges?
It is remaining open. With the exchanges closed I can concentrate on making the pool better. |
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Also can i just confirm as it been a number of months since i setup my account on TRC and PPC on your exchanges.... I take itthat the emergency withdraw addys were required for both BTC and the altcoin upon registration? I'll probably just wait for automatic withdraws if thatthe case as i'm off for a week as of today and access to wallets not going to be as easy, but don't want funds to get lost in the shutdown.
Yes, there was an address for both registered. For my users that don't have an emergency address I'll leave something up to enable them to withdraw their coins. I just did a run through of the PPC, TRC and LTC exchanges to make sure the hot wallets are topped up. Don't panic if the withdraw doesn't go through, the hot wallet may have dropped low and I'll top it up. |
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really sorry to hear  loved your exchanges Thanks, I'm sorry they didn't work out |
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Recent events have shown that running an exchange is way to risky and stressful to me in the current alt coin climate. Prices have risen to a point where I'm not comfortable I can provide a reasonable level of service. To this end I'm closing the exchange and encourage all users to move to vircurex. The following details are on the exchange site: 2013-04-05: The Bitparking exchange is closing down. I've decided the risk involved in dealing with the current high prices for the alt coins has moved from the 'fun hobby' level the exchange originally started with and requires a more serious approach to operation. I've been in contact with the Vircurex exchange and I encourage all existing customers to move their funds and continue trading their.
The exchange will close trading Friday 5 April 2013 22:00 and new deposit addresses will not be able to be created. Trading operations will also be disabled. Withdrawals will be available for a few days after that at which point the exchange will close and all funds sent to their emergency withdrawal address. Withdrawal fees are removed during this period. Thanks for using the exchange and enjoy a better and more professional experience at Vircurex. |
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Recent events have shown that running an exchange is way to risky and stressful to me in the current alt coin climate. Prices have risen to a point where I'm not comfortable I can provide a reasonable level of service. To this end I'm closing the exchange and encourage all users to move to vircurex. The following details are on the exchange site: 2013-04-05: The Bitparking exchange is closing down. I've decided the risk involved in dealing with the current high prices for the alt coins has moved from the 'fun hobby' level the exchange originally started with and requires a more serious approach to operation. I've been in contact with the Vircurex exchange and I encourage all existing customers to move their funds and continue trading their.
The exchange will close trading Friday 5 April 2013 22:00 and new deposit addresses will not be able to be created. Trading operations will also be disabled. Withdrawals will be available for a few days after that at which point the exchange will close and all funds sent to their emergency withdrawal address. Withdrawal fees are removed during this period. Thanks for using the exchange and enjoy a better and more professional experience at Vircurex. |
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Recent events have shown that running an exchange is way to risky and stressful to me in the current alt coin climate. Prices have risen to a point where I'm not comfortable I can provide a reasonable level of service. To this end I'm closing the exchange and encourage all users to move to vircurex. The following details are on the exchange site: 2013-04-05: The Bitparking exchange is closing down. I've decided the risk involved in dealing with the current high prices for the alt coins has moved from the 'fun hobby' level the exchange originally started with and requires a more serious approach to operation. I've been in contact with the Vircurex exchange and I encourage all existing customers to move their funds and continue trading their.
The exchange will close trading Friday 5 April 2013 22:00 and new deposit addresses will not be able to be created. Trading operations will also be disabled. Withdrawals will be available for a few days after that at which point the exchange will close and all funds sent to their emergency withdrawal address. Withdrawal fees are removed during this period. Thanks for using the exchange and enjoy a better and more professional experience at Vircurex. |
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Even with the fee increase the pool has hit a large bad luck run and I've decided to close the pool. The risk is to large to end out of pocket and having to buy ppcoins to cover the reserve at high prices. The following is posted on the pool page: I regret to inform that I've decided to close this ppcoin pool. With the large recent increases in PPCoin price and the variance of finding blocks with the ppcoin network combined with the 512 block maturity time it's become to risky for me to keep operating. In the last few days the pool has lost 10,000 PPC out of reserves and I'm not willing to fund out of pocket at the current prices. Thanks for mining here and I recommend coinotron.com or vpool.us. Withdrawals remain enabled for a few days and then I'll automatically withdraw to all user addresses.
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im trying to mine but i cant it never shows any hash rate
Make sure you've spelt your username correctly. It needs to have the correct case. What miner are you using? |
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Why did you increase fee to a HUGE 7.5% on PPCoin? 2.5% was much better, now you're just being greedy. Please revert this ridiculous fee.
With 7.5% of 550 ghash, you're making in the area of $1500 per DAY by doing almost NOTHING.
Due to orphans, stales and the instability of the ppcoin daemon there is a lot of loss that the pool absorbs. My PPC pool wasn't designed for huge hash rates like it is getting now and it's causing a large strain on the server. I've increased the fee to account for this and to discourage miners from using it - preferring them to use cheaper pools and reduce the load. When PPC supports getblocktemplate I can switch to using stratum instead of getwork and the pool can lower the fee. I do recommend switching to another pool if you're not satisfied. With the 500+ block confirmation required with PPCoin the pool requires a large buffer. The pool reserves keep dropping low and I'm funding out of pocket to keep things topped up. I was fine with this when prices were low and I didn't mind spending 'hobby money' levels to keep it going. Now the costs are much higher and the pool needs to pay for itself. |
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Will there be stratum support also?
Support for getblocktemplate and sendblock are the only blockers for my pool to have stratum on PPC. Currently at almost 500 Ghash/s on getwork is causing some strain with the setup I have unfortunately. That and the memory leak. I've set ppcoind to be restarted every two hours to stop crashes due to that. |
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Bitparking has a 2.5% fee, plus not paying transaction fees. That's a total fee of 3.5% to 4.5%. Seems a bit steep.
PPS pools are slightly more risky for the operator than PPLNS. Without a fee, or even a low fee, the risk of bankruptcy is insanely high - I don't know how the Mt Red's of the world do it. I don't know how you do it either with PPLNS - I assume you get enough donations to make it viable? People mine in pools for different reasons and I'm sure most anyone has backup pools set anyway so I'm all for people picking and choosing their pools however they want. If you don't like a pools fees, payout method, or presentation, mine somewhere else or even solo. That's the nice thing about bitcoin. So much choice. |
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The alternative would be not to credit any deposits lower than a specified threshhold, e.g. < 0.01 BTC Thus anyone sending less will not get the coins credited. Best even, some sort of reorg function on the wallet.
Good point. There are patches around to that stops dust transactions from being used in coin selection. |
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Since we added the optional fee to speed up network processing, we pay redicilous amounts of fees. The reason is that we have tons of tiny deposits (probably P2P mining or other mining results). These thousands of small transactions are are driving the fees up.
Same issue existed in my exchange, it's crazy. Some people do many small deposits direct from mining pools for less than 0.0001 coins and it fragments the wallet resulting in high fees for withdrawals which the exchange has to eat. It'd be nice if the various coins had an API that worked like: foocoind sendtoaddress 1X9999 25 0.01 Where 0.01 is the fee you want to pay. If that fee is too small for the coind's default it can fail and return the actual fee required. You can then retry the command with the new fee. This would allow finding out the fee to pass on to the user. |
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I'm struggling to buy PPC with BTC. On the orders screen it only shows NMC / BTC with no way to change it?? - This is starting to frustrate me Click on "PPC/BTC" in the order summary on the right, below "Your balances". |
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The domain exchange.bitparking.com has moved to the same server as bitparking.com. http://exchange.bitparking.com is working, but only as a message update. Yes, the machine that was hosting the exchange is not operational so I moved the ip to my pool server to put a message up. I am transferring a disk image of the exchange at the moment and will start recovery when it completes. |
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pool is down.
Yes, working on it now. Restarting a crashed bitcoind, should be up in 5 minutes or so. Edit: Pool is operational again. |
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The server crashed this morning, and I was unable to remotely bring it back online. Currently working with my service provider to get it back in operation.
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Merge mining is temporarily disabled while I investigate crashes with the merge mining daemons.
Edit: Merge mining reenabled.
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I posted the data here in another thread but thought it might be relevant here. There's a good analysis of the reserves needed for a PPS pool in Meni Rosenfeld's paper on pool payout schemes. Using that formula, at 25BTC per block and 2% fee, allowing for a 1 in 1000 chance of going bankrupt, the pool needs a reserve of 4,300 BTC. If the pool tries to get by with a reserve of 1,000 BTC then it has a 20% chance of going bankrupt. Variance is a killer. There was a website that plotted pool balance variance over time based on fee but I can't locate it at the moment. Back when the price of bitcoin was $1 or less it was fun running a pool since $4,300 in reserves wasn't too much of a risk. Now it's close to $400,000 so it's less of the 'fun' level. Less risk if you don't go for PPS of course. |
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There's a good analysis of the reserves needed for a PPS pool in Meni Rosenfeld's paper on pool payout schemes. Using that formula, at 25BTC per block and 2% fee, allowing for a 1 in 1000 chance of going bankrupt, the pool needs a reserve of 4,300 BTC. If the pool tries to get by with a reserve of 1,000 BTC then it has a 20% chance of going bankrupt. Variance is a killer. There was a website that plotted pool balance variance over time based on fee but I can't locate it at the moment. |
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