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

[jonnybravo0311]

In a nutshell, you pay for the usage of someone else's mining hardware.  There are services out there (most popular are www.nicehash.com and www.miningrigrentals.com) that take care of handling the payments and managing the contracts.  Basically you say, "I want to rent some amount of hashing power for a period of time, and I want to point that power to some pool." 

The two websites I listed provide different approaches to it.  With nice hash, you simply choose an amount of power you wish to rent, and provide a price at which you wish to rent it.  If any hardware out there matches your specifications, it starts working for you until all of your funds are used up, or somebody outbids you.  With mining rig rentals, you choose one or more rigs and pay the rig owner a pre-determined rate for a specified time.  During that time, it is as though those rigs are your own.  You can point them to whatever pools you want.

[wmabern]

That's very uncool to post this here. I mine at both and have nothing but good to say about Kano.is, but I would not come here and try to solicit miners from a pool that's trying to grow and help keep the network decentralized, unless I had a specific bad experience with that pool (aka Slushpool).

I'm sorry. I was in a very bad frame of mind when I posted that. I have removed it.
Please feel free to remove it quoted here. Thank you.
Again, I'm sorry. I also apologized to the pool owner via PM.

I'm sincerely sorry.
I'm usually a very nice person and rarely say bad things about people or things or say things that can be hurtful to others.
I really don't know what came over me.

[Laviathon]

Pool is down until tonight.   I was implenting a fix and doing some updates and ran into a problem.   I had to leave for work.   I will get it back up as soon as I get off work tonight.

We are back up. 

[Laviathon]

Hello, I just joined your pool about a few days ago, congratulations on the UI design, and responsiveness of the UI.  I was curious of one thing however, the last 3 blocks found, the reward is exactly 12.5 BTC, which implies no transaction fees attached to the block.  Is that just the way your UI shows the reward? or are you keeping the TX fees for yourself? Or by total (bad) luck, your pool found 3 blocks with no transaction fees?

No the blocks have tx fees.  We were having a problem getting the pool to adjust as it used a formula to get the block average over the last 10 blocks to figure estimated payout.  When the halving happened obviously your estimated payoff would have been much higher with 9 of your last ten blocks being 25 BTC payouts.  So we had to change the pool to fixed.  We rattled of 3 quick blocks before I was able to fix the issue so it was just set to make everything post as 12.5 in order to keep the estimated payout calculator working.  It is now correct and will pay as well as show the TX on the next block found.    I hope that answers your question.

[Laviathon]

Hi,
Can anyone let me know more about the rentals?

Every block that has been found by the pool was found from a Nicehash rental except the blocks by karstenholland and natebuilds23.   They have the best and easiest way to pay and interface.   I wish some one would rent we are due a block!  I would recommend that not renting less than 500ths, 1 PHS give you a good chance to actually find something. 

[JVasudevan]

I burnt my rental budget at the beginning of this run, but I will turn by S7 the BC monster way. I know its not much but the little i can do.

[JVasudevan]

In a nutshell, you pay for the usage of someone else's mining hardware.  There are services out there (most popular are www.nicehash.com and www.miningrigrentals.com) that take care of handling the payments and managing the contracts.  Basically you say, "I want to rent some amount of hashing power for a period of time, and I want to point that power to some pool." 

The two websites I listed provide different approaches to it.  With nice hash, you simply choose an amount of power you wish to rent, and provide a price at which you wish to rent it.  If any hardware out there matches your specifications, it starts working for you until all of your funds are used up, or somebody outbids you.  With mining rig rentals, you choose one or more rigs and pay the rig owner a pre-determined rate for a specified time.  During that time, it is as though those rigs are your own.  You can point them to whatever pools you want.

Thank you Jonny for the detailed reply, I just realized that I had not phrased by question properly, I knew about the rental services I use them as frequently as my wallet permits. However I just wanted to understand if there is any co-relation between the time at which the rentals are put into the run, for example I saw a couple of posts which said "we are due a block" so is it with reference to a particular time at which putting in a rental increases the odds of finding a block?

I am sorry if I sound naive, pretty new to the mining arena, just been mining for a month now so totally new to this.

Thanks for your time though.

[jonnybravo0311]

No problem, and I'm glad to help.  Besides, you never learn if you don't ask questions

When people state "we are due a block" it's based on the statistics.  You can calculate how long a given hashing power at a known network difficulty would expect to take to solve a block.  However, there is absolutely no guarantee when that block will be solved.

Following that same logic, there is no "best time" to rent.  Yes, people will argue that it's at the beginning of the round, so you're less likely to find a block... or it's in the middle of the round, so you're more likely to find a block.

The point is, any single hash at any single time can solve a block.  Those hashes have no concept of the fact that 200 billion have come before they have.

You know what increases the odds of finding a block?  Having more hashes.  That's it.  So, feel free to rent whenever you want.

[JVasudevan]

No problem, and I'm glad to help.  Besides, you never learn if you don't ask questions

When people state "we are due a block" it's based on the statistics.  You can calculate how long a given hashing power at a known network difficulty would expect to take to solve a block.  However, there is absolutely no guarantee when that block will be solved.

Following that same logic, there is no "best time" to rent.  Yes, people will argue that it's at the beginning of the round, so you're less likely to find a block... or it's in the middle of the round, so you're more likely to find a block.

The point is, any single hash at any single time can solve a block.  Those hashes have no concept of the fact that 200 billion have come before they have.

You know what increases the odds of finding a block?  Having more hashes.  That's it.  So, feel free to rent whenever you want.

Well thanks get the idea.

Have another stupid question coming your way. I was doing some reading online and came across "Stratum Proxy", does it really help/improve performance/significant advantage is having a local proxy server setup?

I started mining because I liked the concept and I have free power (included in my rent  ) and i really like the tech, so just trying to get  my hands dirty and try different things and make it more interesting

[jonnybravo0311]

In regards to stratum proxies... unless you're running a ton of hardware at your site, there's no need to setup a local stratum proxy.  The benefits of a local stratum proxy come into play if you have a lot of hardware to maintain.  It also cuts down on the network traffic since everything is directed to the proxy.  With only a few miners?  No need for it.

[Laviathon]

Thanks for for the big rental snoopy.  I hope we hit!

[JVasudevan]

looks like the pool website is down.

Is it just me or is it really down?

[Kami85]

It's down , like so many times!
It's very often that the pool and website is down sad but true

[LoneRangir]

It looks like the address lease expired?

[Kami85]

Yes, it's expired !
Don't understand why is no information from the Admin in any case !

[krisgt30]

Block by Bitatlas with 3.5th. Unfortunately he wasn't donating so he did not qualify for the bonus*

[jonnybravo0311]

Congrats guys!

[Laviathon]

Glad to hit another!

[jonnybravo0311]

With 3.5T... I'm assuming it is owned hardware that hit and not a rental.  First non-rental block for you guys, right?

[Laviathon]

With 3.5T... I'm assuming it is owned hardware that hit and not a rental.  First non-rental block for you guys, right?

Actually the third.