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Author Topic: bit pit - (LP, ESMPPS, 8-decimal payout, SSL, API, 0% fee, Almost 0% Stales!)  (Read 76311 times)
Tx2000
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July 08, 2011, 02:51:41 AM
 #261

I meant to ask, do you plan to offer payout to the 8th decimal place?  Would further distinguish the pool from the majority, imo
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1bitc0inplz
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July 08, 2011, 03:34:16 AM
 #262

I meant to ask, do you plan to offer payout to the 8th decimal place?  Would further distinguish the pool from the majority, imo

That is something we've talked about. In generally it's a great idea. However, in practice there are two concerns that keep coming to my mind.

1) Older clients don't support BTC amounts to that precision.
2) If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

The first issue is dwindling as time moves on, and perhaps we could even offer this as an option. Something turned off by default (for safety), but that you could turn on to enable full-precision payouts.

However, issue #2 would require more research on my part. I never really sat down and and fully explored the fees, and limitations associated with full precision transactions.

I wil add this to our feature request tracker. Now that I am thinking about it, I am very curious what technical (and financial) hurdles lie in the way of implementing this. I'm very interested in this the more I think about it  Smiley

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
Tx2000
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July 08, 2011, 04:47:52 AM
 #263

If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

I see.  Would it be possible to counteract this fee by offering full 8 decimal point once you have at least above 0.02xxxxxx BTC to withdraw or will it still be affected because it's in the decimal points after the 0.02?
1bitc0inplz
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July 08, 2011, 05:01:41 AM
 #264

If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

I see.  Would it be possible to counteract this fee by offering full 8 decimal point once you have at least above 0.02xxxxxx BTC to withdraw or will it still be affected because it's in the decimal points after the 0.02?

That is my theory, and the aspect of this I'd like to explore in more detail.

Right now we set the minmum "pay me now" threshold to 0.01 BTC. Perhaps that threshold remains unchanged, but (if enabled) we send out the full amount. If the transaction costs are the same, then concern #1 goes entirely away.

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
Boing7898
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July 08, 2011, 08:13:33 AM
 #265

We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy

Ohai.
GRC: FtWgehaapGH5cKSmMPEH91sVzxLUioNZ3s
1bitc0inplz
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July 08, 2011, 12:12:35 PM
 #266

We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy

I cannot believe it... stupid block  Angry

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
ercolinux
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July 08, 2011, 03:37:53 PM
 #267

We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy

I cannot believe it... stupid block  Angry

We are over 3.3X of difficulty  Angry

Bitrated user: ercolinux.
zoro
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July 08, 2011, 07:17:22 PM
 #268

that's because we 've found 5 blocks in a week!
statistics is a bitch Cheesy

"killer app" of BTC = MasterCoin https://bitcointalk.org/index.php?topic=265488.0Mastercoin(A new protocol layer on top of Bitcoin)
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July 08, 2011, 08:24:28 PM
 #269

Hi there.
I joined just yesterday with my ~1.75GH, can't wait to find this damn block.
Also, pool speed increase in last day is my job (partially at least), I did some PR in another forum =)
(sry for grammar)
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July 08, 2011, 09:29:30 PM
 #270

Hi there.
I joined just yesterday with my ~1.75GH, can't wait to find this damn block.
Also, pool speed increase in last day is my job (partially at least), I did some PR in another forum =)
(sry for grammar)

Thanks for joining up! If you have any suggestions or feedback for growing our pool, we'd love to hear them!

Mine @  <http://pool.bitp.it>
Chat with us @ irc://irc.freenode.net/#bitp.it
Learn more about our pool @ <http://forum.bitcoin.org/index.php?topic=12181.0>
Sangre
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July 09, 2011, 12:38:11 AM
 #271

Thanks for joining up! If you have any suggestions or feedback for growing our pool, we'd love to hear them!

First of all, I think you might no give 5 BTC to one person, who find the block (at least in 6th round), but increase payouts for everyone by 10% (that will be the same amount of BTC) or even by 5%. I think this is will give greater psychological effect for miners to join, than having a little chance to win jackpot (and this is why people often prefer large pools with stable little payouts than little ones with huge (as we may see right now) influence of luck).

And second suggestion is implement some kind referrals system for early stage or giving some bonuses for early adopters (such as, for example, 1% bonus for payouts to first 100 people who send at least 10000 shares). It can be temporary of course, all what we need is grow to 100-200GHashs.

I hope you understand what I mean (google translator is not always a panacea)
1bitc0inplz
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July 09, 2011, 02:11:43 AM
 #272


First of all, I think you might no give 5 BTC to one person, who find the block (at least in 6th round), but increase payouts for everyone by 10% (that will be the same amount of BTC) or even by 5%. I think this is will give greater psychological effect for miners to join, than having a little chance to win jackpot (and this is why people often prefer large pools with stable little payouts than little ones with huge (as we may see right now) influence of luck).

And second suggestion is implement some kind referrals system for early stage or giving some bonuses for early adopters (such as, for example, 1% bonus for payouts to first 100 people who send at least 10000 shares). It can be temporary of course, all what we need is grow to 100-200GHashs.

I hope you understand what I mean (google translator is not always a panacea)


That's a pretty good point. Perhaps on a future round we could do that, but I'm hesitant about changing the rules of a contest once it's started.

This block will be over soon, and we'll continue to offer bounties as a way to get this pool even bigger. I really do like your idea of just increasing everyone's payout for future bounties. I'll need to review how we'd even implement that, as right now reward calculations are based around a 50 BTC block...

Let us look into this and see what our options are. Also, let us think on the idea of a referral system... not sure how long term do-able that is since we're a 0% fee pool.... but, I do like your idea of limiting it's time frame.

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
1bitc0inplz
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July 09, 2011, 05:36:56 AM
 #273

Just a quick update for everyone. We just did a quick deploy with some fixes that will reduce stales even further.

Specifically we noticed a few miners were experiencing a higher than normal amount of stales following a longpool response. We isolated a specific corner case in our implementation and have significantly reduced our stale rate.


Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
Boing7898
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July 09, 2011, 07:08:17 AM
 #274

Just a quick update for everyone. We just did a quick deploy with some fixes that will reduce stales even further.

Specifically we noticed a few miners were experiencing a higher than normal amount of stales following a longpool response. We isolated a specific corner case in our implementation and have significantly reduced our stale rate.


Nice!
Tomorrow I'll go in vacation, and when I will be back I wanna see this block completed!
@1bitc0inplz, don't worry, the 11 I will still post it since I'll have a notebook with wifi Cheesy

Ohai.
GRC: FtWgehaapGH5cKSmMPEH91sVzxLUioNZ3s
Sangre
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July 09, 2011, 07:46:45 AM
 #275

I have one more request - can you please make "stales" column in workers statistic? And if it will be separately for current round and since last reset (or for all time), this would be even better. I think pool which positioned as pool with lowest stales rate must have this info in statistic Cheesy
stevang
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July 09, 2011, 11:04:33 AM
 #276

I have one more request - can you please make "stales" column in workers statistic? And if it will be separately for current round and since last reset (or for all time), this would be even better. I think pool which positioned as pool with lowest stales rate must have this info in statistic Cheesy

+1
1bitc0inplz
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July 09, 2011, 03:01:37 PM
 #277

I have one more request - can you please make "stales" column in workers statistic? And if it will be separately for current round and since last reset (or for all time), this would be even better. I think pool which positioned as pool with lowest stales rate must have this info in statistic Cheesy

Great idea!

We just started tracking this on a per worker basis in the middle of round 6. So, we will need to wait until round 7 begins to actually implement this. But, this is something I'd like to see as well.

Speaking of stales... I restarted my GPUs after we did our update a few hours ago. Here is a screen shot:




2 / 2304 * 100 = 0.08%  Grin

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
Sangre
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July 09, 2011, 04:00:28 PM
 #278

2 / 2304 * 100 = 0.08%  Grin
I have something about 10/42898 = 0.06%! And looks like this rate steadily decreasing since your last change. Good work!
1bitc0inplz
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July 09, 2011, 05:49:14 PM
 #279

I have something about 10/42898 = 0.06%! And looks like this rate steadily decreasing since your last change. Good work!

Thanks!  Cheesy

Just a quick bit of news for everyone. I don't know how many of you are using the phatk kernel for your miner, but I just noticed they had an update: http://forum.bitcoin.org/index.php?topic=25860.0

My 5830 went from 295 MH/s to 306 MH/s just by updating the version of the phatk kernel phoenix was using.

I highly recommend everyone to check this out!  Smiley

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
1bitc0inplz
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July 10, 2011, 02:53:33 AM
 #280

Keep up the great work everyone. We've seen some good steady growth today.  Smiley

Mine @ http://pool.bitp.it - No fees, virtually 0 stales, what's not to love!
Chat with us @ #bitp.it on irc.freenode.net
Learn more about our pool @ http://forum.bitcoin.org/index.php?topic=12181.0
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