Bitcoin.com Pool, PPS

[SaBit]

No Auto-Withdrawal today - 1st time its happened

[icon73]

No Auto-Withdrawal today - 1st time its happened

My auto withdrawal happened on time, and exactly what I was expecting was paid.  May want to open a support ticket.

[pornluver]

No Auto-Withdrawal today - 1st time its happened

My auto withdrawal happened on time, and exactly what I was expecting was paid.  May want to open a support ticket.

Can anyone tell me how can someone paying 110% pps?

How do they make more than 100%?

[-ck]

Can anyone tell me how can someone paying 110% pps?

How do they make more than 100%?

You already asked in another thread and I answered.

How the hell they pay 110% PPS? Pool hoping?

Basically they're using it to attempt to fund a Bitcoin Unlimited takeover of the network by making people mine on a BU pool at the pool's loss; it's Roger Ver's owned pool and he's going to great lengths to garner support for BU.

[pornluver]

Can anyone tell me how can someone paying 110% pps?

How do they make more than 100%?

You already asked in another thread and I answered.

How the hell they pay 110% PPS? Pool hoping?

Basically they're using it to attempt to fund a Bitcoin Unlimited takeover of the network by making people mine on a BU pool at the pool's loss; it's Roger Ver's owned pool and he's going to great lengths to garner support for BU.

Yes you did.

However, this guy said that it's wrong

How the hell they pay 110% PPS? Pool hoping?

Offtopic for this thread, but basically they're using it to attempt to fund a Bitcoin Unlimited takeover of the network by making people mine on a BU pool at the pool's loss; it's Roger Ver's owned pool and he's going to great lengths to garner support for BU.

Firstly, Bitcoin is peer2peer.
If the vast majority of bitcoin wants something, then that is what bitcoin now is.
Be that segwit, BU or some other better option than either of those two poor quality offerings.

Secondly, Roger Ver's ckpool/ckdb pool is making an expected profit paying out 110% PPS as I explained in his pool thread, since miners are currently expected to get around 112% PPS on a zero fee pool due to transaction fees.

If you wish to delete this post for being OT, then also delete yours since it contains false information.

Basically I want to know 110% relative to what? Say block rewards for bitcoin is 12.5. Then? He pay 13.75. How did he get the 1.25 BTC?

[icon73]

Basically I want to know 110% relative to what? Say block rewards for bitcoin is 12.5. Then? He pay 13.75. How did he get the 1.25 BTC?

I think it is safe to say that if the block reward is 12.5 BTC he is paying 13.75.  With regard to the 1.25 BTC I would imagine that some of the 1.25 BTC comes from mining fees in the blocks that the pool mines.  But I believe that the bulk of the 1.25 btc comes out of Roger's pocket.  At least that would seem to be the case based on a few emails we have exchanged. 

[kano]

Basically I want to know 110% relative to what? Say block rewards for bitcoin is 12.5. Then? He pay 13.75. How did he get the 1.25 BTC?

I think it is safe to say that if the block reward is 12.5 BTC he is paying 13.75.  With regard to the 1.25 BTC I would imagine that some of the 1.25 BTC comes from mining fees in the blocks that the pool mines.  But I believe that the bulk of the 1.25 btc comes out of Roger's pocket.  At least that would seem to be the case based on a few emails we have exchanged. 

That's either a complete lack of understanding of bitcoin mining, or you are saying he pockets all the transaction fees

Most blocks lately pay more than 10% (more than 1.25 BTC extra) in transaction fees (and average more than 10%)
So if that 10%+ is not accounted for then it is going into his pockets, so I guess then that you 'could' say it is coming from his pocket ... after on average more than that 1.25 BTC went into his pocket ...

[icon73]

Basically I want to know 110% relative to what? Say block rewards for bitcoin is 12.5. Then? He pay 13.75. How did he get the 1.25 BTC?

I think it is safe to say that if the block reward is 12.5 BTC he is paying 13.75.  With regard to the 1.25 BTC I would imagine that some of the 1.25 BTC comes from mining fees in the blocks that the pool mines.  But I believe that the bulk of the 1.25 btc comes out of Roger's pocket.  At least that would seem to be the case based on a few emails we have exchanged. 

That's either a complete lack of understanding of bitcoin mining, or you are saying he pockets all the transaction fees

Most blocks lately pay more than 10% (more than 1.25 BTC extra) in transaction fees (and average more than 10%)
So if that 10%+ is not accounted for then it is going into his pockets, so I guess then that you 'could' say it is coming from his pocket ... after on average more than that 1.25 BTC went into his pocket ...

I'm glad you know everything.   

If you were to look at the pool statistics they seem to indicate he has had really poor luck, or people are withholding.  It looks like he is negative over all for what I expect he is paying.  So, it would seem many payments come out of his pocket.  I think you were the one that pointed out the size of reserves he would need with fantastic math as proof that showed what would happen if the pool ran into poor luck.  It's safe to say that the pool has under performed significantly for the hash it reports.  Reminds me of December on your pool.  I want to say 70%?

That not withstanding, you have on multiple occasions pointed out that he is pocketing all of the earnings, because he is effectively charging huge fees even though he says he doesn't charge fees, so doesn't that simply fit with what you already thought?  He pockets all of the money, and then he has to pay it out due to poor luck...

[Mister305]

hmm

[Klinker]

First reply on why the auto withdrawn is not working
Sorry, autowithdrawals were late today.
We'll make sure that it runs on time in the future.

2nd reply on why there is a hidden fees on withdrawn
Unfortunately the blocks are always full, so the bitcoin network transaction fees are very high. We're getting the fees from the 21 fee API: https://bitcoinfees.21.co/

Hopefully we can hard fork to a larger block size so that your transaction fees will be lower.


Nothing mention on fees during withdrawn and its almost 23%

I just checked, and I got my normal payment.  No idea how to help. Sorry

If you paid a 23% fee you must have had an infinitesimally small reward.  My fee was 0.0662%. Reward 0.07121171 btc, fee 0.00004715.  Or it was about 6 cents on an $89.30 reward.

yeah  but if auto withdrawal is every day  to pull  .0712 btc you need to mine at about 120th or 10 s9's

I only put 60th  at pool for now

I guess then I'm interested to know if the fee is proportional or fixed.  If it's fixed then ivvyme is mining with about 0.4 Th/s.  At that rate ($0.25/day) you are probably better off on another pool.
If it's proportional then either his calculation is wrong or something is messed up.

I asked support, "Is there a fee for the daily autowithdraw?" Their reply:

Yes, but the daily auto-withdraw fee is much lower (around 5 cents instead of 50 cents) because we combine many withdrawals into one transaction.

Regards,
Shaun Chong
Bitcoin.com Developer

[Swimmer63]

I have been on the pool since they started the 110% and can verify the nightly withdraw fee is about $0.06 based on $1352USD/btc

[Kryptowerk]

Sorry for diggin this up. They started offering cloud-mining contracts recently.
Now, to my knowledge almost all "cloud-mining" offers are blatant scam or at least very unlikely to ever allow people to get their investment back. Looking at their offer and assuming difficulty will increase following a similar pattern as before these contracts seem to be profitable.
What's you guys take on this offer? Do you think it is likely the operators will just run with the investors money?

[HannRa]

Sorry for diggin this up. They started offering cloud-mining contracts recently.
... Do you think it is likely the operators will just run with the investors money?

'pool.bitcoin.com' is highly unlikely to run away with your mined bitcoins. People behind the bitcoin.com pool are not random no-name figures in Bitcoin space. Roger Ver, Andrew Stone, just to name a few, are prominent figures in Bitcoin space, not some random crooks that nobody has met. Pool can sustain itself with 110% PPS because TX fees (which are not shared with PPS models) account for more than 10% of block reward. Assuming a long-term pool luck at 100%, they will make a small margin for themselves with PPS@110% model. My personal preference is for PPLNS models because in the long term they are likely to be slightly more profitable. With any PPS models, pool operator assumes the risk of orphaned blocks and bad luck, not the miner. Therefore, as a miner, you generally pay a little extra for 'insurance'. I do not mine with them myself as my preference is PPLNS at lowest fee possible, but if you want stable predictable payouts, they are either top#1 or top#2 PPS pool in terms of payout percentage right now. Worth a try!

PS. While I can say that pointing your ASIC miners to their pool is highly likely *safe*, I can not vouch for any of their cloud mining contracts today as it's unclear from where the hash rate comes from. If they re-sell hash rate bought from somebody else, they are just the middlemen, and you may end up overpaying. In complex ownership structures, it's also difficult to have a clear picture of the asset at hand - who owns what, who bears responsibility to provide support, is the support offered by bitcoin.com or someone else, and if so, does bitcoin.com pool open support tickets to another entity, possibly resulting in very lengthy support delivery times? I have no answers to any of that.

[icon73]

In complex ownership structures, it's also difficult to have a clear picture of the asset at hand - who owns what, who bears responsibility to provide support, is the support offered by bitcoin.com or someone else, and if so, does bitcoin.com pool open support tickets to another entity, possibly resulting in very lengthy support delivery times? I have no answers to any of that.

If one takes time to read the agreement, the pool guarantees the hashrate.  So in my case for example I bought 1Th/s.  It's a solid one TH line, and I get the PPS payment associated with that line.

So I am not worried about complex ownership, or time to restore. 

[fanatic26]

PS. While I can say that pointing your ASIC miners to their pool is highly likely *safe*, I can not vouch for any of their cloud mining contracts today as it's unclear from where the hash rate comes from. If they re-sell hash rate bought from somebody else, they are just the middlemen, and you may end up overpaying. In complex ownership structures, it's also difficult to have a clear picture of the asset at hand - who owns what, who bears responsibility to provide support, is the support offered by bitcoin.com or someone else, and if so, does bitcoin.com pool open support tickets to another entity, possibly resulting in very lengthy support delivery times? I have no answers to any of that.

https://news.bitcoin.com/bitcoin-coms-cloud-mining-allowing-anyone-mine-bitcoin/


Their own press release states that they are partnered with North Americas largest bitcoin mine to provide hash rate including posting pictures of the main bitcoin.com developer in said mine.

[HannRa]

https://news.bitcoin.com/bitcoin-coms-cloud-mining-allowing-anyone-mine-bitcoin/


Their own press release states that they are partnered with North Americas largest bitcoin mine to provide hash rate including posting pictures of the main bitcoin.com developer in said mine.

If it were up to me, I'd contact that North America farm to skip the middleman

Nevertheless, transparency is a good thing and it could be an option to consider then! And as icon73 pointed out - if they do guarantee hash rate, any risks are at their own cost. As I understand, customer is expected to receive cloud mining contract payouts regardless if the miners providing this hash rate stay up or down.

Green light so far. But since it's a "fresh out the bakery oven" product, it makes sense to try out with small amounts first.

[icon73]

I got the message below last night.  Apparently the bitcoin.com pool is increasing it's payout to 120% which is 10% more than they were paying.


Bitcoin.com Pool Now Pays a 120% Block Reward
When we first launched pool.bitcoin.com network fees were averaging about 10% on top of the block reward, so we decided to pay 110% in an effort to attract more miners to our pool to help resolve the scaling debate.

Today the network congestion is even worse, so we have increased our block reward to 120% effective immediately.

This applies to all private miners on our pool, and all cloud mining customers.
Everyone will now receive 120% of the block reward!
We already paid significantly more than other pools, and now we pay even more, so tell your friends!

[leowonderful]

Probably competing with BTC.Com's 119% PPS-like system. I'm staying on Kano and smaller pools but nice to see competition in the pool side of things.

[icon73]

Probably competing with BTC.Com's 119% PPS-like system. I'm staying on Kano and smaller pools but nice to see competition in the pool side of things.

Kano runs a fine pool, but I wouldn't go as far as saying that the bitcoin.com pool is "large".  It's under 100 PH.

[Swimmer63]

Could not tell you. I left when it stopped being 120%.
Which happened very quietly.

At Viabtc now. They switch between BTC and BCH depending on profitability.
Past 24 hrs. BCH has been 169% more profitable than BTC.

EDIT: The Pool has found 44 blocks in the past 6 hours.