[4 PH/S+] BCMonster.com Mining Pool / [PPLNS Payout][Pays TxFee]

[krisgt30]

Once this block hits, I think we will see the next two blocks come quickly, because we all will be throwing major rental hash at the pool with our recouped btc to make up for our losses this round.

OK going to take one more shot at it.  Big rental incoming.   Going to reboot the server really quick.

edit: Back up!

Got a rental waiting for when we hit.

[Laviathon]

What is up with these people paying .0036 and higher for these rentals.   Math says we should be at .0031 now.  I have 4 PH/s sitting at .0033 in que and that is stupid.

[krisgt30]

People were paying as high as .0058 earlier in the week  

Looks like youre up and running now.

[Legacy2005]

so wheres the block we have been looking it seems forever. its gotta drop sometime soon.

[Laviathon]

so wheres the block we have been looking it seems forever. its gotta drop sometime soon.

I know right.  I think we are paying for the amazing luck we had in the first 3 rounds.  I know I have said this a ton but we have to get the base hash rate up.  We need to get to atleast 1 PH/s without the rentals in order to get this thing to grow and stand a chance to find a blocks on the regular.  If the difficulty continues to climb and it will soon we will need 2 ph/s.  Any Ideas on what we can do to get some bigger miners to come and stay with us for the long term short of giving free BTC.  This round for instance most likely both Krisgt30 and myself will have lost 4 btc each in rentals.

[jonnybravo0311]

Unfortunately even giving away free BTC bonuses to block finders doesn't guarantee people will mine on your pool.  I'd love it if people stopped mining on the big, bad-for-Bitcoin pools and pointed their hash to our pools instead.  Very hard to get people to switch over, though.

[joaogti36]

got 2 s7 hashing away into the pool ....
next week 1 more s7 will be hashing... missing a power source :X

[krisgt30]

Unfortunately even giving away free BTC bonuses to block finders doesn't guarantee people will mine on your pool.  I'd love it if people stopped mining on the big, bad-for-Bitcoin pools and pointed their hash to our pools instead.  Very hard to get people to switch over, though.

People are blinded by the frequency of blocks and think that means it is the best for them, but when you have only 1TH-100TH, a smaller pool means more BTC, even though a less frequent payout. I have made more in 3 weeks here 10 fold versus the big boys. Why? Greater overall % of hashrate contribution.

[cabal2000]

Unfortunately even giving away free BTC bonuses to block finders doesn't guarantee people will mine on your pool.  I'd love it if people stopped mining on the big, bad-for-Bitcoin pools and pointed their hash to our pools instead.  Very hard to get people to switch over, though.

People are blinded by the frequency of blocks and think that means it is the best for them, but when you have only 1TH-100TH, a smaller pool means more BTC, even though a less frequent payout. I have made more in 3 weeks here 10 fold versus the big boys. Why? Greater overall % of hashrate contribution.

Thats exactly why I am going to put S7's in here when I get them. Should be mailed out on Monday and up and running (hoping!!) by last Friday.

[krisgt30]

We need more people like you to jump in for the long haul with their hash.

[cabal2000]

We need more people like you to jump in for the long haul with their hash.

Here's a silly question. What the best Difficulty to set the s7 to?

[krisgt30]

We need more people like you to jump in for the long haul with their hash.

Here's a silly question. What the best Difficulty to set the s7 to?

The pool auto adjusts the difficulty for the s7. My 4 S7's are ranging from 7-12k diff here.

[Laviathon]

We need more people like you to jump in for the long haul with their hash.

Here's a silly question. What the best Difficulty to set the s7 to?

Difficulty is set by the stratum server to make sure your miner reports ever 8 seconds with a 30% max variance window.  If averages less that 8 seconds it will increase the diff, if more it will lower it.  In the end, difficulty has no effect on the "best share" just how quick the miner reports a cluster of shares.

[Legacy2005]

double edged sword issue. Need more hash power to grow/find blocks but miners wont commit hash power unless there is base hash power to start with.

only thing you can really do is what you are doing now, advertise the pool as much as you can and keep the rental going it might not need to be 1ph every time maybe do 500 for twice as long. or work with the current pool members to gather some btc to get an extended rental going to spread the impact of the cost. that 4th block will fall and those that are on the pool will see the payout and want more. gotta give them that initial fix to get hooked and then want to come back for more and will bring their friends.

it may be suck to do/tedious but perhaps joining with bravo might be the best option to get the pool to grow. once this pool or his hits a block suspend mining on the the pool till the other hits then combine forces. (just a thought)

[krisgt30]

I know if it was me, and I put months in developing and creating a pool, I would not want to simply merge with another pool. I am sure that is the way he feels, it would be months of hard work gone. Plus, it is not a bad thing to have more pools. With less diversity and less competition, the bigger pools, can take more and more away from the miners, leaving us no choice but to suck it up or go solo. What ideally should happen, is slush and antpool should see a significant drop in hash, from more miners switching over to bcmonster, bitminter, johnnybravos pool and others. I am trying to source 2 more S7's myself to get up and running at my hosted facility to increase the hash here.

[Laviathon]

Thought this was cool.  Site info by geo for the month of feb.

[Legacy2005]

I know if it was me, and I put months in developing and creating a pool, I would not want to simply merge with another pool. I am sure that is the way he feels, it would be months of hard work gone. Plus, it is not a bad thing to have more pools. With less diversity and less competition, the bigger pools, can take more and more away from the miners, leaving us no choice but to suck it up or go solo. What ideally should happen, is slush and antpool should see a significant drop in hash, from more miners switching over to bcmonster, bitminter, johnnybravos pool and others. I am trying to source 2 more S7's myself to get up and running at my hosted facility to increase the hash here.

I may suck to throw away all the work done to set up the pool but its also a learning experience that can be used in the future. While it would be nice to see people leave from those large pools and come to a smaller one the reality is it is going to be hard to steal them away. Those at the larger pools are used to get paid X btc every day and for them to come to a smaller pool where the payouts are less frequent is a big step. if we can constantly find blocks then others will start joining until then we are just asking people to hope that a block is found and that the reward is greater then the money for electricity/rental power. Unless the pool grows hashing power it may take to long to find blocks and people will either go back to previous pool or find a new larger pool. Sometime a merger is the only way to grow and not end up a thing of the past.

[krisgt30]

My 5th s7 sent to my hosting facility, with number 6 being sent later today. Will have 30th/s pointed at the pool by end of week.

[joaogti36]

how much for the hosting of each s7?

[krisgt30]

It depends on the batch. Earlier batches are $85/month later batches are $105/month.