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Of course they are back, the gravy train is in town. I welcome them but question their motives and logic.
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Yes, education on blockchain 'insurance' is key for asset holders. There have been several discussions on reddit about this, and one comment which stood out was that P2Pool was not yet scalable. If a ton of people joined p2pool (like 50% of the network), the sharechain difficulty goes through the roof, and finding a share will become very difficult...so it'll be like solo mining blocks all over again, except slightly easier with lesser reward since it's still split (so still less variance than pure solo mining).
Regarding hashrates, yes you are correct. There is still the problem of p2pool share difficulty getting too high for 'low speed' miners, but the dev (Forrestv) is considering solutions to that, like multiple sharechains, etc.
I'm also thinking about ways to create a hybrid node. A centralized node, if you will, running on the P2Pool network. This will allow me to create services similar to the other centralized pools (whatever people especially like about GHash), while still making them indirectly mine on p2pool. There's still the risk of the hybrid pool growing too large (eg >51% of the sharechain), but that's a serious problem already...Petamine were going to trial p2pool, but it looks like they didn't, because they would immediately have had >50% of p2pool's mining power. Things like hybrid nodes would be more useful when there are large mining groups on p2pool, so smaller miners could still turn a coin.
Thanks for another really interesting post. Alright, so that's something I didn't know: that p2pool doesn't scale that well yet assuming a big increase in hash rate. Is this solvable, in the near/mid future? Forrest has been updating the p2pool code and I feel a solution to this may be imminent. |
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Here is my transaction list for my measly 230gh/s over the last two and a bit days. Hope this inspires some miners to join:
Today 01:35:48
0.02183437 BTC
2014-06-27 15:06:28 - donation
0.00011201 BTC
2014-06-27 01:18:02
0.02453485 BTC
2014-06-26 19:59:57
0.02434502 BTC
2014-06-26 15:01:00 - donation
0.00010977
2014-06-26 07:07:09
0.02488561 BTC
2014-06-25 18:42:54
0.01801932 BTC
2014-06-25 15:01:48 - Donation
0.00009016 BTC
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The lead developer showed renewed interest very recently and has become more active on github and the forum. There are some technical issues to sort in regards to scalability and hardware compatibility.
I've done some work on the front end, again in my sig.
You can run a p2pool node on Windows by simply running the executable and pointing your miner at it or just finding a node close by.
It's pretty easy and knowing some decent donations are coming in and understanding variance would make it easier for miners to make the change.
Now for some real work figures:
In the last 2 weeks p2pool hash rate has dropped significantly, from 700th/s to now around 300gh/s, this happened just as the main dev became more active. Since in that same two weeks p2pool only got a block every the days or more I can only assume miners got impatient with the variance and switched pools, big mistake!
In the last 36 hours five blocks were found.
At around 230gh/s I've got around $15/block on those last blocks. Over $60us in payments on only 230gh/s is pretty nice and throughout those two weeks we got a dozen or so donations, each quite small but its a nice little fill in to keep you interested while blocks are not coming in.
If the donations were a little larger, they could certainly help reduce variance and make miners feel better about staying with p2pool during times between blocks.
There is a bounty address setup for the main dev for when he delivers some new code and nodes can donate (turned on by default but often disabled, the last block for example had a 1% donation turned on) so if miners understood the 1% fee and the developer is inspired to spend more time improving code then the system self reciprocates to the dev.
The 1% is turned off to help encourage miners to use p2pool nodes, my node has no fees for example.
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Statistics
today
week
month
Donations
1 1 43
Donated
0.02 btc 0.02 btc 2.5219 btc
Largest
0.02 btc 0.02 btc 1.0 btc
Payouts
238 238 7259
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Yes cents, of course I only have around 200gh/s so miners with higher hash rates get a larger share of donations.
When a block is found, the 25btc (or close enough too) gets split 99.5% among the miners who have submitted shares based on how many shares they hashed and the one that actually finds the block gets the remaining 0.5% of the block reward.
Okay, that was a bit misleading then. I thought you were talking about a 0.5% incentive provided to miners that are on p2pool vs. miners in other pools, and I was pretty surprised to hear that would have been there. Any info on total donations to p2pool? Would you say your donation tool is the most used one? The one in my sig (not mine but setup recently by the blisterpool guy) seems to be most used and it has stats on total donated. |
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Opinions are divided (to say the least) on how dangerous a single pool reaching 51% or more of hash power really is. Some say it's not a big deal and it's all hysteria, others go as far as calling Bitcoin "ghash coin". I tend to think the answer is somewhere in the middle: it's a serious problem, in the sense that our "trustless network" becomes a bit less trustless when a single pool can get close to a hashrate majority, but I also don't buy that it's an imminent & practical danger - no rational pool operator would risk the entire base of this wealth to earn a few extra bucks. First, a disclaimer: I'm not a miner myself, so some of the finer points of mining and mining pools probably elude me. That said, I am under the impression that a lot, if not: most of the 51% pool problem would disappear if a majority of "floating" hash power would join p2pool.Agreed so far? Let's say p2pool is the solution. There seem to be reasons why miners don't use p2pool more often yet. The most common reason I've heard so far is that p2pool requires the participating miner to run a full node (while regular pools need only a light client). I never quite understood why that is exactly such a big obstacle (if you can spend thousands on ASICs, how hard can it be to get the hardware/connection to run a full node?), but I'm not here to argue with the miners. They are economical actors, so I'll assume they know what they're doing. Alright, I'll come to my point: 1) It would be preferable for everyone who has a stake in Bitcoin if a majority of hashing power would join p2pool.2) Miners, by and large, aren't doing that. Currently p2pool sits at around 1% of total hashing power.My conclusion: Those who have a large stake in Bitcoin should try to give more incentives to miners to join p2pool, as it will benefit themselves in the long run.Do you agree? If so, what's the most effective way for us (as investors/traders) to provide such incentives? The wiki mentions p2pool donations already exist, but I couldn't even find the total of donations received so far. Also, it looks like Bitcoind is required to donate, which limits the number of potential donators. How about a to do list? - Set up donation address
- Advertise, and convince large Bitcoin stakeholders to donate to p2pool, arguing that it is in their own self interest
- Make sure there is little room for embezzlement of the donated funds, i.e. guarantee and check that donated funds are distributed among p2pool miners.
That's my pitch. Any input welcome. Some links: P2Pool Wiki articleP2Pool thread on bitcointalkHashrate distribution, by poolsYes cents, of course I only have around 200gh/s so miners with higher hash rates get a larger share of donations. When a block is found, the 25btc (or close enough too) gets split 99.5% among the miners who have submitted shares based on how many shares they hashed and the one that actually finds the block gets the remaining 0.5% of the block reward. |
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There is an easy donation tool from blisterpool in my sig that requires no bitcoind.
Donations that come through usually total around 5-10c and you may see three per week.
P2pool miners get a 0.5% bonus for finding a block.
I am sure more miners would join if some of the variation is softened by more donations.
Also miners are not required to run a node, just find one that's close to them.
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Did this just turned into scam or just some down time?
SCAM! they don't pay anyone and their website is gone maybe they make a newer scam cloud mining, i noticed new cloud mining service (based in UK) too few days ago  I've reported negative trust on their account (which if proven wrong will remove). |
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Be sure to let us know how you go. I for one am very interested in how this pans out.
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are you kidding me? this guy is telling me to leave the country i'm being dumb and to give the government all my money to piss away. he is being a dick so i treat him like a dick.
i'm just saying, if you don't like his advice then ignore it. but you are publicly asking for advice. he is right, that is an option, I was reading that people are denouncing citizenship in droves from the US government. there is those islands where you can buy land on the island to get full citizenship and get full access to all eu countries. can't recall all the details right now but it is something people do and you don't have to leave the US physically to do it. and yes it is all legal and above board. EDIT: here you go: http://passportsforbitcoin.com/Edit2: and more http://en.wikipedia.org/wiki/Renunciation_of_citizenship |
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I think we are all seeing a drop in luck over the last week with some nice blocks recently. p2pool just picked up 4 within a 24 hour window! but before that only 2 in 6 days.
btw my payout only 2 days ago came through perfectly so no issues there.
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Web Slicer, I suggest you stop attacking the people of whom you are asking advice and accept it or leave it. you are not helping your cause by being so grumpy and abusive.
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Wow 4 Blocks and we're showing on the pools distibution at blockchain.info again!!! Nice string of luck, and just before the shares from when my miner got lucky a couple days ago expired too. I'm very happy with P2Pool today!!!
Boom! Can anyone say gravy train. Toot toot! Haha I had pointed some rented hashing power at me node during the down time and its all paying out right now. Was a nice gravy train, my 0.02 approximate payout dropped to 0.012 sometime after the 4th block. mine is still up where it should be: http://www.norgzpool.net.au |
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I've got a front end also in my sig below.
I thought I had forgotten one, added! Other updates committed, thanks guys Cheers, worth noting I've built the fancy front end to work independently of the node. All stats pull from json and can be hosted on any web server. This means if someone decides to ddos your node, they will likely attack the front end and the node itself will be left unharmed. Also worth noting is out of all front ends that claim to do that, your's seems to be the only one that actually works  Still looking into why the others don't fetch the data correctly, the scripting looks to be the same. I found that json works but jsonp doesn't. Most of the front ends use jsonp which for whatever reason doesn't work off node. |
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I've got a front end also in my sig below.
I thought I had forgotten one, added! Other updates committed, thanks guys Cheers, worth noting I've built the fancy front end to work independently of the node. All stats pull from json and can be hosted on any web server. This means if someone decides to ddos your node, they will likely attack the front end and the node itself will be left unharmed. |
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Hey im buyed new ant miner s1 but i cant connectin ant miner page. (192.168.1.99)
What is problem on there ?
my ant miner status is
fan is working
lights are
im calculate psu voltages are all ok (12v ok on pci-e cables)
im need help there...
Is the IP address on the sticker by the fan 192.168.1.99? If yes what is the IP address of the computer that you are using to attempt the connection? My friend your'e right sticker on ant miner s1 is 192.168.1.99 my ip address of the computer is 192.168.2.22 (on ipconfig) im using wi-fi to connect internet also avalible lan connection. what im doing wrong ? You need to be on the same subnet as your ant. That third octet is .1 for the ant and your computer is .2. That third number needs to match. Go change it to a 1 and then you will be able to connect to the antminer. |
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Wow 4 Blocks and we're showing on the pools distibution at blockchain.info again!!! Nice string of luck, and just before the shares from when my miner got lucky a couple days ago expired too. I'm very happy with P2Pool today!!!
Boom! Can anyone say gravy train. Toot toot! Haha I had pointed some rented hashing power at me node during the down time and its all paying out right now. |
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Share data
Timestamp: Thu Jun 26 2014 20:00:06 GMT+1000 (AUS Eastern Standard Time) (1403776806)
Difficulty: 1241379.569878876
Minimum difficulty: 1241379.569878876
Payout address: 19TbRwiWSVW4wd4wU1apDzyrhUtL8NcHRE
Donation amount: 0.00%
Last stale: null
Nonce: 55420988
Desired version: 13
That payout address shows on a block. Does that show the miner on p2pool that found the block?
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Are there other indicators in P2Pool when you find a block other than the bonus? How's the bonus differentiated from other payouts to our P2Pool associated address, now that we're seeing fairly regular donations to P2Pool miners?
Even if it says "Block Found!" on the rolling command line status, I'd have a hard time seeing it (not like I sit here watching it scroll by all day). Is it in another log or do I have to slog through all my rigs and look at their UI's to see if they found a block (like the S1 Mining Status page)?
windpath - It would be great to have an indicator of blocks found (total and individual blocks highlighted) on the Miner Status pages you provide, including for miners outside your node on CoinCadence.
Alternatively can I add similar functionality to my node's UI.... where to source the data?
The bonus isn't differentiated. It just gets added to whatever your share of the other 199/200. In other words, if your address is MYADDRESS and that address found the block, and your expected payout at the time of finding the block is 0.5 BTC, your total block reward is 0.625 BTC. You don't get two separate payouts of 0.125 and 0.5. When you find a block, you see this in your p2pool logs: 2014-04-26 04:18:51.302213 GOT BLOCK FROM MINER! Passing to bitcoind! https://blockchain.info/block/00000000000000001354b78a93d4a4d71490abb482b08405484c125b918f3fc7 I'm not sure you could source the "This address is the one that found the block" information for nodes other than your own, nor am I sure if that is historically associated to the submitted block so you could parse it from block data. Anyone know the answer to that? When you look at that block in the blockchain it has a payout address, is that the block finder? |
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