Thanks for the input kanoi, as i said this has been the topic of discussion among staff for some days
Currently what is stated on the first post is what is happening - if/when changes are made the main post will be updated
Miners are welcome to mine on the pool or not depending on how they feel about the current conditions at the pool - or any pool for that matter. Actually it would be good if more miners investigated pools closer before jumping on - but thats a whole other subject...
Not sure where you pegged "our current hashrate" from ~30ghash Saturday morn (my tz) to psj reporting over 300Ghash now (2pm monday afternoon)
The hash rate was around 200+ when I typed that.
Even at 300 what I have said is still valid.
Even at 400 the expected time for a block is 13430 seconds (3hr 43min 50sec)
So a 5x share variance (6,253,788 shares) would be 18hr 39min 10sec - a lot of hashing time for a person to lose if they don't donate 5% and an orphan occurred.
Also, the 120 confirms is there for a reason.
Unlike a transaction that will simply wait for another block if the block it is in is orphaned, the block itself once orphaned is gone forever.
That logically means to me that it doesn't make sense at all to immediately payout.
As a poolop i have noticed many miners do like an instant payout option- some seem desperate for instant BTC, thus the 5% option, maybe "insurance" or "fee" or any number of other words are better name than dontaion...
just one example is non donors that are happy to wait 120 confirmations but would like to be able to manually withdraw at 2% fee, when the auto payout script runs every 10 mins...
I apologise to you and the mining community for launching before the site was perfect...(btw which one is perfect and not still under development?)
I am not sure why you are apologising or what you are apologising about, Graet ...
That one item is the one I dislike and I have stated why.
We appreciate the miners that have stuck through the instability and other issues, they see the site is developing and are liking what they are seeing. Development is continuing.
kanoi maybe you are one of the miners that should have another look in a week or a fortnight
you will have to excuse me if i have chosen the wrong word here or there or made a misspell hopefully you can understand what i am trying to say, this was typed between picking up and caring for a vomiting child.
Just read the other thread you linked to. You seem to misunderstand what a valid/invalid block really is. You are right in so far as "invalid" is a misnomer and inaccurate. However, your reasoning goes off the rails when you state that "all the work is lost before." It's not (or I dunno, maybe it is on OzCoin, but not most pools, including EMC) - what has actually happened is a strict statistical sense, as well as in the harsh reality, is the "invalid" block is a phatom block as far as mining goes. While it's hash did in fact satisfy the difficulty criteria, someone else found a lower difficulty/better difficulty and the block that was found really wasn't. Some/most pools list it as found and then invalidate it later, but purely from a blockchain point of view (which is all that really matters in the end), the block that turns out to be invalid on a given pool should never have been found in the first place, so you/the miners continue mining as if no block had been found (because one hasn't).
So nothing is lost, you just had your hopes dashed through a false block alert. A pool could mask a block found for a given amount of time until it's reasonable to assume it's going to be valid and then show miners, but then people would complain about the delay. In either case, it's impossible to please everyone... however, the general consensus seems to be that immediate reporting and later invalidation is preferable to block announcement delay. Six of one, half dozen of the other.
Inaba, no I do understand clearly what an orphan block is
The work lost is what I dislike.
BTCGuild prop did that. The new Ozcoin does that.
I'm putting forward my argument why I dislike it.
Hopefully it might change before an orphan block occurs