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Author Topic: BitLotto Mining Pool - [Mine to win!] [Proportional + Jackpots + 0% Fees]  (Read 8783 times)
masterminer
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June 09, 2011, 12:35:08 AM
 #1

Finally! It's working! Cheesy

NOT ASSOCIATED WITH BITLOTTO.COM!

BitLotto Mining Pool
www.bitlottopool.com
-----------------------------------
BitLotto is a Bitcoin mining pool that lets you automatically allocate a percentage of your mining proceeds to purchasing BitLotto tickets!

How it works:

This pool uses a proportional payout system, meaning that every time a block is found, its reward is split between participants according to the number of shares they submitted.

Choose a percentage of you earnings that will be allocated towards purchasing BitLotto tickets for the next drawing. So for example, if you earn 1.234 BTC during a round, and your BitLotto contribution is set to 5.0%, you allocate 0.03702 BTC towards your first BitLotto ticket! So instead of paying for fees, you're paying to essentially try your luck in the BitLotto! BitLotto tickets are automatically added to your account whenever your BitLotto contribution reaches 0.05 BTC.

BitLotto tickets will automatically be purchased through your BitLotto contribution percentage that is specified in your user control panel. These tickets will be entered into the next drawing at the end of each round, with each ticket increasing your odds of winning the next jackpot.

There will be a winner every time a block is found. At the end of each round (whenever a block is found) the pool will randomly choose a BitLotto ticket to payout the current jackpot to the lucky miner! (Pool takes 5% of each jackpot) Winners will be notified via email, and should receive payment to their Bitcoin wallet shortly after the block receives 120 confirmations.
-----------------------------------
Please give it a try to see if you can connect, so I can get an idea how many users this thing can support and of course where the bugs are Cheesy

Sign up for an account (just email and bitcoin wallet address) and the site will email you a temporary password (check your spam folder, gmail seems to not like my site mailbot)

Criticism and comments welcome!

MasterMiner

How to connect:

First sign up on bitlottopool.com, then ....

Windows:

poclbm.exe -d1 --host=bitlottopool.com --port=8337 --user=email_address --pass=your_wallet_address_goes_here
phoenix.exe -u http://email_address:your_wallet_address_goes_here@bitlottopool.com:8337/ -k poclbm DEVICE=1

Linux:

./poclbm.py -d1 --host=bitlottopool.com --port=8337 --user=email_address --pass=your_wallet_address_goes_here
./phoenix.py -u http://email_address:your_wallet_address_goes_here@bitlottopool.com:8337/ -k poclbm DEVICE=1

Example:

poclbm.exe -d1 --host=bitlottopool.com --port=8337 --user=email@gmail.com --pass=15aQZJnnnTLAfrpmj7SsF26aMPV5ZfFFdz

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
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masterminer
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June 10, 2011, 04:52:41 AM
 #2

Anyone? We do have a 1 BTC jackpot and all Cheesy

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
pompquick
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June 11, 2011, 02:15:57 AM
 #3

Hey I went ahead and joined.  BTC is basically a lottery anyway, I might as well make it more of a gamble!  (especially with my puny radeon 4670).

I don't see anyway to contact you on the site, but it looks like there might be a small bus.  My miner shows me mining at about 33,000 k/hash, but the top panel of the site shows 3.3m/hash...I'm new to BTC, but I would assume that should be 33m/hash.

And I just checked again and now it says "53." and the overall pool speed is showing exactly 1.0Ghash, so I assume you're still working on it.  It's a very novel idea, though, I hope it takes off a bit.

Let me know if you need any help testing, I'd be happy to help.

EDIT:  Wait, are you running your own BitLotto, or buying tickets for us at Bittlotto.com?  If it's the latter, that just seems like giving you unnecessary control (no offense).
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June 11, 2011, 03:17:29 AM
 #4

Default BitLotto contribution is set to 5.0% BTW

You should really use that in your example instead of 3%
masterminer
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June 11, 2011, 05:18:42 AM
 #5

Hey I went ahead and joined.  BTC is basically a lottery anyway, I might as well make it more of a gamble!  (especially with my puny radeon 4670).

I don't see anyway to contact you on the site, but it looks like there might be a small bus.  My miner shows me mining at about 33,000 k/hash, but the top panel of the site shows 3.3m/hash...I'm new to BTC, but I would assume that should be 33m/hash.

And I just checked again and now it says "53." and the overall pool speed is showing exactly 1.0Ghash, so I assume you're still working on it.  It's a very novel idea, though, I hope it takes off a bit.

Let me know if you need any help testing, I'd be happy to help.

EDIT:  Wait, are you running your own BitLotto, or buying tickets for us at Bittlotto.com?  If it's the latter, that just seems like giving you unnecessary control (no offense).

Thanks for trying it out! This pool isn't affiliated with BitLotto at all, the tickets are just virtual tickets created by the pool - I hope that's not confusing, I didn't realize there was a BitLotto until I already made the thing Cheesy

My hash rate estimations are all over the place for some reason, I need a better method - i'm using (10 shares * 2^32)/(time val of share 0 - time value of share 9). Any ideas?

My 750mHash is always pointed at the pool, but I know the hash rate is wildly inaccurate right now - looking for a better way to do it...


BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
masterminer
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June 11, 2011, 05:19:23 AM
 #6

Default BitLotto contribution is set to 5.0% BTW

You should really use that in your example instead of 3%

Whoops changed one and not the other! Thanks!

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
darbsllim
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June 11, 2011, 07:04:58 AM
 #7

great idea, did you build the frontend yourself, or is this based on some existing code, and then you added the lotto?

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June 11, 2011, 11:38:39 AM
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added u to my site. any info on how u manage the payout (instant or automated?) or on any fees?

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June 11, 2011, 03:16:31 PM
 #9

Really cool idea.  Good luck!
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June 11, 2011, 04:20:57 PM
 #10

There will be a winner every time a block is found. At the end of each round (whenever a block is found) the pool will randomly choose a BitLotto ticket to payout the current jackpot to the lucky miner!
...how?

Something I like about many Bitcoin lotto pages is that they are 100% transparent in how they determine winners (depending on block hashes etc.).

Just having a "random(1,number_of_tickets)" function somewhere is not exactly what I love to have when money is involved!

Also again the usual question to new pools:
Who gets the transaction fees and how will they be split in the future (after the 50 BTC reward goes down to 25, transaction fees will become more and more valuable!)

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
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pompquick
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June 12, 2011, 12:45:15 AM
 #11

There will be a winner every time a block is found. At the end of each round (whenever a block is found) the pool will randomly choose a BitLotto ticket to payout the current jackpot to the lucky miner!
...how?

Something I like about many Bitcoin lotto pages is that they are 100% transparent in how they determine winners (depending on block hashes etc.).

Just having a "random(1,number_of_tickets)" function somewhere is not exactly what I love to have when money is involved!

Also again the usual question to new pools:
Who gets the transaction fees and how will they be split in the future (after the 50 BTC reward goes down to 25, transaction fees will become more and more valuable!)

Not only the method, but how the prize is calculated, too, will it always be 1.00BTC?  If the pool doesn't grow much larger, that's a very small prize.

Also, is there anyway to see the total number of shares submitted by the entire pool, rather than just by me?  Or an estimated payout if we were to find a block right now?
masterminer
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June 12, 2011, 05:58:00 PM
 #12

great idea, did you build the frontend yourself, or is this based on some existing code, and then you added the lotto?

I used an open source project @ http://tutorialzine.com/2009/10/cool-login-system-php-jquery/ for the interface, but then I still had to do loads of code to interface with the DB and pushpool.

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
masterminer
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June 12, 2011, 06:00:49 PM
 #13

added u to my site. any info on how u manage the payout (instant or automated?) or on any fees?

Thanks! Right now we are setup for an automated payout at every 1 BTC, the "fees" are really just your buying of BitLotto "tickets" on the pool for the next drawing. Each jackpot size is based upon the proceeds from the "tickets" purchased by other miners.

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
masterminer
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June 12, 2011, 06:07:50 PM
 #14

There will be a winner every time a block is found. At the end of each round (whenever a block is found) the pool will randomly choose a BitLotto ticket to payout the current jackpot to the lucky miner!
...how?

Something I like about many Bitcoin lotto pages is that they are 100% transparent in how they determine winners (depending on block hashes etc.).

Just having a "random(1,number_of_tickets)" function somewhere is not exactly what I love to have when money is involved!

Also again the usual question to new pools:
Who gets the transaction fees and how will they be split in the future (after the 50 BTC reward goes down to 25, transaction fees will become more and more valuable!)

Hmm, basically it is just an mt_rand function, what if I had another page that showed the entire lotto stats, such as how many tickets bought by each bitcoin address, odds, etc?

We haven't found a block yet, but when we do, I was thinking of simply transferring them into the next jackpot to spread the wealth.

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
masterminer
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June 12, 2011, 06:13:11 PM
 #15

We just hit 29 registered users!

Does anyone have another tried and true method for determining pool hash speed? I need to try and make this more accurate Cheesy

BitLotto Pool - Mine to Win! Jackpots every round! (http://www.bitlottopool.com)
Mike 71
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June 12, 2011, 06:25:48 PM
 #16

I cant connect. I mined the whole day, all worked fine, but no connection to your pool

#phoenix -u http://lalala:justarandomkey@bitlottopool.com:8337/ VECTORS BFI_INT FASTLOOP=false DEVICE=0 AGGRESSION=12 -k poclbm WORKSIZE=256
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June 12, 2011, 06:31:36 PM
 #17

i suggest to give out signed tickets and think about a way the lottery isnt made on your Computer and more transparent.


Modulo with using the Hash of the found Block and the Number of given tickets, the rest is the winning ticket, as a first idea, could work fine.
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June 12, 2011, 06:36:38 PM
 #18

i have one of my cards working on your pool now, but my stats are not updated since i started.

Is it just the page or will i lose my work right now?
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June 12, 2011, 06:56:04 PM
 #19

Really cool idea, I might throw my miners here some day Smiley

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BitLotto - best odds + best payouts + cheat-proof


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June 12, 2011, 07:20:19 PM
 #20

Is it possible to use BitMiningLotto or something? I'm worried that users will get confused trying to find my site!

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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