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 Author Topic: [DOWN] Bitlc.net - P2SH, No invalid blocks, Custom payouts, EU, 0% fee, LP  (Read 178480 times)
deepceleron
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 July 08, 2011, 06:53:04 PM

The pool had a stats glitch, the pool had solved three blocks, but for 10 hours the stats page thought we were still working on the first round. That gave the appearance of a 16 hour round. It was fixed and the payments went out without a hitch.

The CDF is already at 99.999% probability of finding a block per Poisson distribution table since 4 hours ago.
It's now at 8 million shares and 16 hours @ 600ghash/s.

Mathematically very, very improbable, if not practically impossible
http://portal.acm.org/citation.cfm?doid=355993.355997
http://www.itl.nist.gov/div898/handbook/pmc/section3/pmc331.htm

(The probability of not solving a block within 960 minutes at current difficulty with 600ghash/s is <0.0000000000000001% and decreases exponentially after each passing minute)

I get a different answer. The chance of solving a block depends on difficulty.

Here is the probability of an individual hash solving a block: http://blockexplorer.com/q/probability

The current probability of solving a block with an individual hash is: 0.0000000000000001489590023459044440534704278888966655358

The current probability of not solving a block with one hash is therefore :
( 1 - 0.00000000000000014895900234590444 ) = 0.99999999999999985104099765409556

Let's call that chance of not solving with an individual hash (a number very close to 1, or 100%) "Z".

The probability of not solving a block with two hashes is Z * Z, better written as Z^2. Still nearly 100%. We need more hashes.

The pool averaged about 600Ghash per second. That is 600,000,000,000 hashes per second x 60 seconds per minute x 60 minutes per hour x 16 hours in the "imaginary" round. Probably around 34,560,000,000,000,000 hashes. That's another preposterous number, so I'll call that "hashTotal"

A pool trys hashTotal hashes in 16 hours, so the chance of not finding a block in that time is Z ^ hashTotal.

.99999... ^ 3.456E+16 = .02156 = 2.16% chance of not solving a block in 16 hours. Not improbable. Bruteforcing the nonce statistics don't enter into it, since everybody is doing random work on multiple blocks. Actual calculation done in Excel, not Matlab, so feel free to verify the percentage for me.

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Jack of Diamonds
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 July 08, 2011, 07:48:14 PM

34,560,000,000,000,000 hashes

I don't have access to MatLab either now, but that looks about right without any tools necessary.

This hypothetical round (that never occurred & the admins corrected it as being three different rounds), however, went as far as 9.6 million shares.

I know the subject is difficult for new miners though. There is a site with the old-type calculator that will show timeframes for block finding. Feel free to tinker with it
http://www.alloscomp.com/bitcoin/old_calculator.php

(Note that it works in khash not mhash like their new one, so for the hashrate of Bitcoins.lc, you would have to enter 600000000).

As you can see, the 95th percentile already occurs at slightly after 9 hours.
This round went past 99.999% @ 600,000,000,000 hashes per second after 19 hours

p.s. This round did not actually happen, the administrators corrected the error. Nor has a 9+ million share round ever occurred on any pool as of today. Deepbit has had 5-6 million share rounds, bitcoins.lc and slush have had similar, but that's about it.

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https://www.bitworks.io

 July 08, 2011, 10:32:31 PM

Seeing all of this downtime with no apparent update on what's happening makes it hard to stay on the pool, I've been here from almost the beginning but maybe it's time to move.

https://www.bitworks.io
Jine
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 July 08, 2011, 11:09:42 PM

Hi!

I'm sorry for the lack of updates - I've been really busy
We're about to launch a huge update for the underlying system, it will contain this (and more).

- Support unlimited amounts of nodes - we're starting with 3 tho.
- Sticky connections so you always get connected to the same node

* Updates to our pushpoold which means less connections, less lag, less latency
- Keep-alive fully supported now - all the way to you as a miner (bitcoind->pushpoold->gateway->your worker)
- Issues with home routes etc dropping keep-alive after a couple of minutes is solved.

* Less stale shares then ever due to modifications on both pushpoold and bitcoind above.
- Stats from my miner (currently): 1630 accepted - 8 rejected

* Company and name registered, for the upcoming exchange platform.
- We're now "Bit LC" - http://www.bitlc.net will be the domain / name in the future
- Stands for "Low Cost Bitcoin Services" - as it's exactly what we're planning to offer.

* The development on the exchange platform have started.
- If you want, you can request features at our feedback page and/or at info@bitcoins.lc

EDIT2: Site related:

* We're implementing optional YubiKeys (2-factor authentication) in the new system.
- This will mean extremely increased security for your bitcoins and you.
- It will be impossible to do payouts, change payout address or similar without having the YubiKey with you.
- It will be optional - you will still be able to access the site and do whatever you used to do, without getting one.
- We're aiming at making it possible to use the same YubiKey with us - as MtGox sells for their service.

* We're will force all pages to HTTPS. Both using redirects and a HSTS policy:
- http://en.wikipedia.org/wiki/HTTP_Strict_Transport_Security
- This is the same policy Paypal and a number of other big businesses enforces on their connections.

* And a lot more...

And yes - we will also launch the new site with API and everything else promised as soon as we're launched this.

We had to focus on getting the pool 101% stable before doing anything else, to avoid loosing our users, because you guys - are our first priority.

We have some other surprises for our loyal users as well, but more on that later.

By the way, some internal schematics of this huge project, it may not look much, but it's fully redundant and should be very, very scalable.
http://www.bitcoins.lc/assets/Bit_LC_Network.png - the configuration of pfSense + the network have taken over 8 hours in total to get it do were we are today.

We're working as fast as i can - please be patient and you'll see how awesome this will be.
Think of it as a mining pool on steroids (Quote from our IRC channel - #bitcoins.lc)

--
Regards, Jim

EDIT:
I totally forgot to mention that we're actually upgrading the hardware node to, a total of 32GB RAM is being added and another 3x300gb SAS 10k RPM drives to.

EDIT2:

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
Jack of Diamonds
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 July 08, 2011, 11:23:13 PM

I'm seeing the positive change already, site estimate shows hashrate increase of ~15% and stays stable.

Will this old domain still work after you switch to the new one?

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Jine
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 July 08, 2011, 11:31:22 PM

We have not launched the new system yet, only made a few changes to lower the load and make it more stable.

Regarding new neame:

Everything will be 301-redirected to the new domain when the time comes.
No need to change miners nor worker-settings. Same goes with the new cluster/load balance setup, miner settings will be the same.

The domain will of course redirect to the new one to

I forgot a couple of things related to the site as well, previous post updated!

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
techwtf
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Activity: 140

 July 09, 2011, 02:27:18 AM

I noticed the Long Polling notify is about 10 sec(sometimes ~15 sec) slower than other pool? please fix it ASAP.
jrussell
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 July 09, 2011, 08:52:26 AM

Best pool ever, thanks Jine

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https://www.bitworks.io

 July 10, 2011, 12:09:44 AM

Are changes underway, reject rate went through the roof for me in the last 30 minutes or so...

https://www.bitworks.io
Jine
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 July 10, 2011, 01:01:36 AM

We just launched our new infrastructure, which is a fully load-balanced environment with all those changes i promised in the previous post.

We did have some issues at 23:10 -> 00:00 GMT with nodes that overloaded, which turned out to be a real simple mistake - we forgot to edit nofiles (maximum of open files and sockets) in limit.conf.
Took a couple of minutes debugging until i found the issue, made last changes, patched pushpoold real fast and pushed everything live.

Here's some RRD-graphs about the traffic we're currently getting:
http://www.bitcoins.lc/images/rrd1.png
http://www.bitcoins.lc/images/rrd2.png

I hope it will grow a bit more during the night to!

I noticed the Long Polling notify is about 10 sec(sometimes ~15 sec) slower than other pool? please fix it ASAP.

Check now It should be a lot better.

Hopefully, we can focus on getting the exchange platform online now, and those features that i know you guys really want.
Shouldn't take to long either

--
Regards, Jim

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
Jack of Diamonds
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 July 10, 2011, 01:19:10 AM

Will your exchange platform include wire transfer withdrawals?

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nodemaster
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 July 10, 2011, 03:50:22 PM

Anybody else out there unable to log in, not even getting an error message?
Jine
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 July 10, 2011, 03:59:46 PM

Will your exchange platform include wire transfer withdrawals?

Yes.

Anybody else out there unable to log in, not even getting an error message?

Sorry about that, seems to be a security mesurement that gone haywire.
It's fixed now. (It banned IP's when they started to appear on multiple accounts, and then it mistakenly banned 172.16.0.254 - which is our gateway)

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
nodemaster
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 July 10, 2011, 04:02:00 PM

Sorry about that, seems to be a security mesurement that gone haywire.
It's fixed now. (It banned IP's when they started to appear on multiple accounts, and then it mistakenly banned 172.16.0.254 - which is our gateway)

Thanks for addressing this. I'm able to log in now. But unfortunately I now get an Internal Server Error while trying to withdraw BTC :-(
joker
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 July 10, 2011, 04:20:33 PM

Sorry about that, seems to be a security mesurement that gone haywire.
It's fixed now. (It banned IP's when they started to appear on multiple accounts, and then it mistakenly banned 172.16.0.254 - which is our gateway)

Thanks for addressing this. I'm able to log in now. But unfortunately I now get an Internal Server Error while trying to withdraw BTC :-(

I can't withdraw either. I don't get an error just a plain white page.

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Jine
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 July 10, 2011, 04:44:11 PM

Thanks both for noticing.
The issue was we runned out of inodes (maximum amount of files on the system) due to a issue with php-fpm+cron.

I permanently solved it and moved the sessionstorage to memcache.
Sorry for these issues last days. Hopefully everything will work flawless after this.

Payouts should work now to.

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
Stocker
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Activity: 22

 July 10, 2011, 06:40:43 PM

Hey, I did a payout and it went through and is posted on the site but no transaction listed in my client and no coins. Any help would be great.

Thanks
Jine
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 July 10, 2011, 06:47:43 PM

The issue with payouts that many seems to not understand is that your client/wallet need the full blockchain to be able to "see" the transaction.
If you're using the default GUI-client, at the bottom of the main window you'll see a line saying "Block: xxxxxx".

That block needs to be close to the same reported at by bitcoinwatch.com or similar

Without you having the blockchain it will not show up in the client, and you'll not see any coins.
If the transaction to show up on blockexplorer (could be delayed up to 10min) it exists on the bitcoin network and there is not much we can do about it.

Please ask in the other forums if you're having problems with the client and getting the blockchain.

Thanks!

/ Jim

Previous founder of Bit LC Inc. | I've always loved the idea of bitcoin.
Stocker
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 July 10, 2011, 06:53:19 PM

m3ta
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 July 10, 2011, 07:21:54 PM

I'm not going to be a b%tch, but lets face it - is Deepbit's UI good? Are their fee OK? Is it professional enough? - No, not even close.

Having something "Current offline due to database work." 24/7 as you have is hardly professional, thus not giving you the right to comment on anyone else's professionalism.

Why the frell so many retards spell "ect" as an abbreviation of "Et Cetera"? "ETC", DAMMIT! http://en.wikipedia.org/wiki/Et_cetera

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