[GBT Protocol - ASIC] - BitArena.net - Mining Pool - Prop - 0% Fees.

[streblo]

Greee, everybody is mocking you. Your payout strategy is highly flawed. This should be your #1 priority (all other features don't matter in comparison). Read the pdf linked above by Graet to learn more.

tl;dr: Don't use proportional payout. Ever. It has severe, crippling flaws.

PS. Sorry pool-hoppers  

[Inaba]

WHY WHY WHY!

[hahahafr]

Do you pay tx fees to miners?

[Greee]

Greee, everybody is mocking you. Your payout strategy is highly flawed. This should be your #1 priority (all other features don't matter in comparison). Read the pdf linked above by Graet to learn more.

tl;dr: Don't use proportional payout. Ever. It has severe, crippling flaws.

PS. Sorry pool-hoppers  

Thanks for this , but as i have said we are new on bitcoin network and we try to improve our pool server to work flawless, we have the resources to create more servers and to develope existing or new web functions so first time we have no fees to make a profit.

We simply reward the miners exacly for their work.

Reward formula:

Code:

$estReward = $totalShares/$totalPoolShares;
$adminFee = '0';
$estReward = round((50*$estReward)-(50*($adminFee*.01)), 8);

[Inaba]

I support this message 110%.  Keep it proportional!

[DrHaribo]

Thanks for this , but as i have said we are new on bitcoin network and we try to improve our pool server to work flawless, we have the resources to create more servers and to develope existing or new web functions so first time we have no fees to make a profit.

This isn't about whether you as a pool make a profit, it's about your miners getting ripped off.

We simply reward the miners exacly for their work.

No, you pay a lot to pool hoppers and very little to 24/7 miners who support your pool.

Take a look at the bottom of this webpage: http://organofcorti.blogspot.no/2012/09/23rd-september-weekly-pool-statistics.html

The two bottom charts show the pool hopping going on at 5 pools with vulnerable reward systems, "proportional" and "scored proportional". See how the hashrate is much higher for the short blocks than the long ones that take a lot of work. This is pool hoppers ripping off the 24/7 miners on these pools.

There's no excuse for these pools to still be running these reward systems and letting their miners get ripped off. Please don't start another pool like that.

[Greee]

Thanks for this , but as i have said we are new on bitcoin network and we try to improve our pool server to work flawless, we have the resources to create more servers and to develope existing or new web functions so first time we have no fees to make a profit.

This isn't about whether you as a pool make a profit, it's about your miners getting ripped off.

We simply reward the miners exacly for their work.

No, you pay a lot to pool hoppers and very little to 24/7 miners who support your pool.

Take a look at the bottom of this webpage: http://organofcorti.blogspot.no/2012/09/23rd-september-weekly-pool-statistics.html

The two bottom charts show the pool hopping going on at 5 pools with vulnerable reward systems, "proportional" and "scored proportional". See how the hashrate is much higher for the short blocks than the long ones that take a lot of work. This is pool hoppers ripping off the 24/7 miners on these pools.

There's no excuse for these pools to still be running these reward systems and letting their miners get ripped off. Please don't start another pool like that.

DrHaribo i understand , i`m thinking we want to use PPS but we need BTC reserve.

[Inaba]

You would need about 10,000 BTC in reserve to properly operate a PPS shop.

[Shadow383]

You would need about 10,000 BTC in reserve to properly operate a PPS shop.

Could run some kind of variable-fee PPS, based on the pool's reserve status (ie, fees go up as the pool gets closer to insolvency, then fall to ~1.5% when there's a nice buffer).
That'd be a cool payout system, so long as the fees didn't go up so much that everyone left 

[Greee]

You would need about 10,000 BTC in reserve to properly operate a PPS shop.

Yeah win to lottery.

[hahahafr]

Greee, everybody is mocking you. Your payout strategy is highly flawed. This should be your #1 priority (all other features don't matter in comparison). Read the pdf linked above by Graet to learn more.

tl;dr: Don't use proportional payout. Ever. It has severe, crippling flaws.

PS. Sorry pool-hoppers  

Thanks for this , but as i have said we are new on bitcoin network and we try to improve our pool server to work flawless, we have the resources to create more servers and to develope existing or new web functions so first time we have no fees to make a profit.

We simply reward the miners exacly for their work.

Reward formula:

Code:

$estReward = $totalShares/$totalPoolShares;
$adminFee = '0';
$estReward = round((50*$estReward)-(50*($adminFee*.01)), 8);

So you don't pay tx fees to miners. Bitminter still best pool around.

[Graet]

might be worth changing the speed in the topic
POOL SPEED: 1.1 GH/SEC - not quite 500GH/S anymore
but you get that with hoppers

[Inaba]

No one has ever asked where I got the name Inaba...

[Tittiez]

No one has ever asked where I got the name Inaba...

I-nab-a child? Are you a pedophile?

[Shadow383]

No one has ever asked where I got the name Inaba...

I'll bite - where?

Also, if the OP suddenly decides to shut down the pool and return at some point as bit-arena.net, you've earned nothing, right?  

[Inaba]

Right, I've earned nothing and he'll get a scammer tag   It would be worth a few hours of hashing though.

[Shadow383]

Right, I've earned nothing and he'll get a scammer tag   It would be worth a few hours of hashing though.

Why would he? That's the whole point of a prop pool, miners get paid proportionally - if the pool closes down having never found a block then you get your majority share of those zero blocks 

[Inaba]

If he closes down and pops back up just to avoid paying out, that's a scam.  If he closes down permanently, well then rock on.

[wknight]

He hasnt said anything about shutting down or changing payouts at this current time.. if he wants to change the payout system he will need to create a block and pay out accordingly.. otherwise he can just let the pool run and wait until it finds a block.. thats all.

[Shadow383]

With all that's been said I have to say it's a good interface on this pool - if it had any anti-hopper setup at all (even a rudimentary one like deepbit has) then I could see people using it.