[DOWN] Bitlc.net - P2SH, No invalid blocks, Custom payouts, EU, 0% fee, LP

[timmmay]

Yes you are missing something.  The pool hasn't solved any blocks yet.  You will only get paid for shares you contributed to a particular block that the pool solves and gets the reward.

At this stage all bitcoin.lc users should have a 0 balance.

"Current block received    Saturday 28 May 11:30:47"

Shouldn't that mean that the old block is solved?

But you are right, still saying "Solved blocks 0"..


Then I will wait and see. But my hashrate on the site is 0 now, and I've been using my worker for over 30 minutes.

Yes that means the block was solved but by someone else.  The pool will get new blocks all the time and unfortunately if the pool doesn't solve it then the shares contributed are wasted and nobody gets paid!

There are pools that pay per share regardless of if the pool solves the block or not.

[Jine]

Unfortunately we haven't solved any blocks yet.
And there is some bad people that want us from stop doing so - the site has been DDoS:ed twice in the last 24h.

I added two url's to provide transparency to you guys.

http://www.bitcoins.lc/listtransactions.json (Its a frontend for "./bitcoind listtransactions" upstream server)
http://www.bitcoins.lc/getinfo.json (Its a frontend for "./bitcoind getinfo" for the upstream server)

I'm going to implement some new statistics, fix the toplist, add an overview page and alot more - now.
Reporting back as soon as more is implemented.

Join us at IRC for latest updates.

--
Regards,
Jim Nelin

[Jine]

Someone, prob. another pool operator is attacking our pool and site over and over again.
We have had to experience at least 3 attacks in the last 36h.

1) Attack against the website - DDoS from under 100 hosts that tries to refresh the stats-page over and over agin.
- Actions taken - implemented caching for all data and blackholed the hosts.

2) Attack against the website - SYN attack from 1000+ hosts (prob. a botnet)
- SYN-protection and SYN-flood limits implemented at network level.

3) Attack against the pool it self - Thousands of invalid shares are sent. (Not stale work, but purely false work)
- Banned workers & ip-addresses responsible for this attack, and also implementing a protection against it in the future. (Auto blacklist/ban)

The pool is still operational no real shares should been lost and the mining continues.
Please show those bad guys that we won't give up that easy!

Also implementing some new features right now, I'll keep you guys updated!

Regards, Jim

[smooth]

no hidden costs or bullshit

Does this mean you are distributing the transaction fees?

[Justsomeforumuser]

Someone, prob. another pool operator is attacking our pool and site over and over again.
We have had to experience at least 3 attacks in the last 36h.

Regards, Jim

This is just sad, pathetic.

I wish the origin of these attacks were known so a majority of users could just shun these idiots.

[smooth]

I wish the origin of these attacks were known so a majority of users could just shun these idiots.

It's entirely possible the owner of the pool has nothing to do with it.  Pool participants can become very competitive and protective of their "team."  Any one idiot with a botnet who becomes emotionally attached to "their" pool is going to try this.

All just part of the cost of doing business on the Internet.

Now here's an idea: build a peer-to-peer pool using cryptography, so is no central pool host to attack.

[Crs]

Just directed 660 Mh/s towards your pool. Let's see what we will accomplish.
As for the suggestions, considering that the pool is (for now) quite small and solving a block could take a couple of days, I think it will be a good ideea for you to email us when a block is solved.

[Sukrim]

Now here's an idea: build a peer-to-peer pool using cryptography, so is no central pool host to attack.

This would require miners to install software additionally to the mining software. P2P applications also very often require forwarded ports (current mining software just does some [imho highly inefficient] HTTP requests as far as I've understood) and it would also require bandwidth as well as introducing latency issues. In the end, light takes half a second to travel around the globe, you can't transmit data faster than that.

I'm btw. also VERY interested how transaction fees are being handled!

[smooth]

Now here's an idea: build a peer-to-peer pool using cryptography, so is no central pool host to attack.

This would require miners to install software additionally to the mining software. P2P applications also very often require forwarded ports (current mining software just does some [imho highly inefficient] HTTP requests as far as I've understood) and it would also require bandwidth as well as introducing latency issues. In the end, light takes half a second to travel around the globe, you can't transmit data faster than that.

All the P2P stuff you mention (ports, etc.) is no worse than Bitcoin itself. 

As for bandwidth and latency, I wasn't talking about the hashing itself as much as sharing the reward (which is what a pool does).  If there were some way to collaboratively agree on a transaction block that gave the rewards to the miners in some sort of fair approximation of their effort, then there wouldn't be a need for a pool server; whichever miner found the block would just submit it and the rewards would be shared.

Some implementation details left out.

[lebish]

Nice start, looking forward to the new features!

[Sukrim]

Some implementation details left out.

Especially protection against malicious nodes + share verification, the main reason why servers are used for pools despite being single points of failure in the first place (as you just have to trust the server operator, not everyone in the pool) 

We should stop hijacking this thread though... a distributed pool actually sounds kinda nice!

[smooth]

Especially protection against malicious nodes + share verification, the main reason why servers are used for pools despite being single points of failure in the first place (as you just have to trust the server operator, not everyone in the pool) 

Where have I heard this story before?

We should stop hijacking this thread though... a distributed pool actually sounds kinda nice!

Agreed.  This looks like a nice new pool.  Hope it works out.

[Jine]

Great success and thanks all, we solved our first block tonight.
http://blockexplorer.com/tx/b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f

As soon as the block reaches mature level (after 100 confirmations), it will automatically be credited to your accounts(!)!!
Thanks all for making this happen.

jine@bitcoins:~$ sudo bitcoind listtransactions
[
    {
        "account" : "",
        "category" : "immature",
        "amount" : 50.89428576,
        "confirmations" : 29,
        "txid" : "b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f",
        "time" : 1306621127
    },

http://www.bitcoins.lc/getinfo.json
http://www.bitcoins.lc/listtransactions.json

--
Many many regards,
Jim Nelin

[lizthegrey]

Great success and thanks all, we solved our first block tonight.
http://blockexplorer.com/tx/b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f

As soon as the block reaches mature level (after 100 confirmations), it will automatically be credited to your accounts(!)!!
Thanks all for making this happen.

jine@bitcoins:~$ sudo bitcoind listtransactions
[
    {
        "account" : "",
        "category" : "immature",
        "amount" : 50.89428576,
        "confirmations" : 29,
        "txid" : "b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f",
        "time" : 1306621127
    },

http://www.bitcoins.lc/getinfo.json
http://www.bitcoins.lc/listtransactions.json

--
Many many regards,
Jim Nelin

W00t! For reference, the block is http://blockexplorer.com/block/0000000000001376c3290f359a9e9e22fd33fd8c413a4ea44de383ae1980c44b

[lizthegrey]

Now here's an idea: build a peer-to-peer pool using cryptography, so is no central pool host to attack.

Already sketched out and being worked on. https://docs.google.com/document/d/1ciKH3M8WYS49ywz08beXtvpCm2wVGdzU7waKwcn_uaU/edit?hl=en_US&authkey=CJTqyOMF#

[smooth]

Now here's an idea: build a peer-to-peer pool using cryptography, so is no central pool host to attack.

Already sketched out and being worked on. https://docs.google.com/document/d/1ciKH3M8WYS49ywz08beXtvpCm2wVGdzU7waKwcn_uaU/edit?hl=en_US&authkey=CJTqyOMF#

Wow, I had no idea!

Nice work so far.  PM me if you want input at any point.

[Jine]

no hidden costs or bullshit

Does this mean you are distributing the transaction fees?

Yes, and no.

We're using it for funding payouts - so basically we ARE "distributing" the fees again. (Keep in mind that we have no limit of payouts/h)
It's not going to our pockets anyway.

http://www.bitcoins.lc/stats is updated now, with current round time & shares for this round.
Trying to get a working top list up and running now to.

Next thing on the list will be "Remember me" functionality I think. We'll see!

[shackra]

Great success and thanks all, we solved our first block tonight.
http://blockexplorer.com/tx/b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f

As soon as the block reaches mature level (after 100 confirmations), it will automatically be credited to your accounts(!)!!
Thanks all for making this happen.

jine@bitcoins:~$ sudo bitcoind listtransactions
[
    {
        "account" : "",
        "category" : "immature",
        "amount" : 50.89428576,
        "confirmations" : 29,
        "txid" : "b3c010a02e0869e02d0efb8e374791f8beceefb5288e0814dd2909cb6f28fd3f",
        "time" : 1306621127
    },

http://www.bitcoins.lc/getinfo.json
http://www.bitcoins.lc/listtransactions.json

--
Many many regards,
Jim Nelin

yay! i want to se my 0.0000010 BTC xD

[smooth]

Does this mean you are distributing the transaction fees?

Yes, and no.

We're using it for funding payouts - so basically we ARE "distributing" the fees again. (Keep in mind that we have no limit of payouts/h)
It's not going to our pockets anyway.

I don't really understand that but it sounds like you are distributing them.  Can you clarify this:

When the pool solves a block, are you dividing up 50 BTC among the miners or are you dividing up (for example) 50 + 0.89428576 BTC among the miners?

[Jine]

When the pool solves a block, are you dividing up 50 BTC among the miners or are you dividing up (for example) 50 + 0.89428576 BTC among the miners?

We're not dividing up the 0.89 BTC (transactions fees) to users as of now.
We do however use these extra funds to pay the instant payouts you as a user does.

Are you following?

New for tonight:
* Stats page is updated with round-stats and a new page for solved blocks is coming in a couple of hours.
* Site is now fully available as HTTPS (SSL) for logged in users (and it's REQUIRED to use SSL for all account-related stuff, forgot password etc)
** Note: The system enforces it automatically. Noting you'll need to do.

We're also thinking of providing a encrypted channel for the getwork json-rpc interface to our pool.
What do you guys think about that?

EDIT:
Changed spelling