[1500 TH] p2pool: Decentralized, DoS-resistant, Hop-Proof pool

[SSaNN]

Who will disable ASIC - rip kidney!!!

[1714007260]

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[pokapeski]

I am utterly newbie. I have been mining for a week. No reference with other pools. Maybe i will try other in the future but i do like p2pool's approach. However, as uninformed as I might be, my impression so far has been that small pools are really sort of philanthropic bitcoin support groups. It's rather difficult to mine stuff with mere 2PH in the pool and it's not until some big player comes in and raises the joined hashing capacity above 5-6 PH that the block finding times get to some useful frequency.
If we want p2pool to succeed I believe we should be aware that the pool needs more, much more muscle.

Again, supernewbie, 7 days of serious mining only. please feel free to discuss any misconception I have.

[windpath]

Completely agree some more juice would be nice, but only in the sense that it would reduce variance. A key concept to grasp is that a higher pool hash rate does not have a long term impact on a given miners earnings, it simply reduces variance and smooths out a miners income. The exception is when a block is not found during a given difficulty increment, right now our luck is not great, and this may prove to be the case, however the only thing I know about luck is that it's bound to change....

TBH I loose a bunch of money running my node, however I'm an idealist and to me the bennifit of keeping the only trustless decentralized pool chugging along is the reward in itself.

I think we will see a P2Pool 2.0 soon, smart contracts will replace the share chain and allow many smaller miners to rejoin and earn rewards that don't equate to unspendable dust.

I'll predict that the days of centralized pools are numbered and that one day in the not to distant future we will see the majority of hashrate on some sort of smart contract based trustless pool.

In the mean time, for me at least, P2Pool is the only responsible choice...

I'm looking forward to spending some time making my node more useful, efficient and reliable in the coming weeks. Vacation ends Tuesday, and I'll be working exclusively on my node for at least a few days:)

/end rambling

[pokapeski]

thanks for the insight, windpath.

BTW, as you are to be at it, any advice to optimize would be most welcome. I keep trying to make my latency low but I do not quite grasp best values I am afraid. For instance anything above 4 connections in the settings for my client have a serious impact in the latency.

also, do you guys know if that segwit thingie I have read about recently is anything that is to be supported by p2pool any time soon? I have seen already that some other pools are mining segwit compatible blocks.

[tubexc]

Completely agree some more juice would be nice, but only in the sense that it would reduce variance. A key concept to grasp is that a higher pool hash rate does not have a long term impact on a given miners earnings, it simply reduces variance and smooths out a miners income. The exception is when a block is not found during a given difficulty increment, right now our luck is not great, and this may prove to be the case, however the only thing I know about luck is that it's bound to change....

TBH I loose a bunch of money running my node, however I'm an idealist and to me the bennifit of keeping the only trustless decentralized pool chugging along is the reward in itself.

I think we will see a P2Pool 2.0 soon, smart contracts will replace the share chain and allow many smaller miners to rejoin and earn rewards that don't equate to unspendable dust.

I'll predict that the days of centralized pools are numbered and that one day in the not to distant future we will see the majority of hashrate on some sort of smart contract based trustless pool.

In the mean time, for me at least, P2Pool is the only responsible choice...

I'm looking forward to spending some time making my node more useful, efficient and reliable in the coming weeks. Vacation ends Tuesday, and I'll be working exclusively on my node for at least a few days:)

/end rambling

I understand that you are losing money running your node.
But if you could host the P2pool statistics page on a free web hosting like WIX for example, the people working in the pool did not go "blind" when the P2pool stats page is turned off.

[windpath]

When WIX can handle bitcoind with -txindex, p2pool, and a MySQL DB I'd be happy to

[PublicP2poolNode]

You want some more juice?

I'm going to rent 1.2BTC of hash today and point it at my p2pool node.

Crossing my fingers we find a block... Theoretically I should have approximately a 1 in ten chance of finding a block for all of us!

 

[squidicuz]

TBH I loose a bunch of money running my node, however I'm an idealist and to me the bennifit of keeping the only trustless decentralized pool chugging along is the reward in itself.

I think we will see a P2Pool 2.0 soon, smart contracts will replace the share chain and allow many smaller miners to rejoin and earn rewards that don't equate to unspendable dust.

I'll predict that the days of centralized pools are numbered and that one day in the not to distant future we will see the majority of hashrate on some sort of smart contract based trustless pool.

In the mean time, for me at least, P2Pool is the only responsible choice...

I'm looking forward to spending some time making my node more useful, efficient and reliable in the coming weeks. Vacation ends Tuesday, and I'll be working exclusively on my node for at least a few days:)

Aye, same here.  I run several p2pool nodes at cost, and keep them well tuned and connected.  Variance sucks, but it happens.  Blocks sometimes come in waves, and at other times there are lulls.


On another note; Veqtrus, or anyone working on this as well... Is it safe to run Segwit versions with p2pool at this time?  The PR for Segwit seems to be handling pretty well, I just want to confirm it is safe or okay to use with the pool at this time

[in2tactics]

Completely agree some more juice would be nice, but only in the sense that it would reduce variance. A key concept to grasp is that a higher pool hash rate does not have a long term impact on a given miners earnings, it simply reduces variance and smooths out a miners income. The exception is when a block is not found during a given difficulty increment, right now our luck is not great, and this may prove to be the case, however the only thing I know about luck is that it's bound to change....

...

Well put. I was going to say about the same, but changed my mind because I could not put it so eloquently.

[veqtrus]

On another note; Veqtrus, or anyone working on this as well... Is it safe to run Segwit versions with p2pool at this time?  The PR for Segwit seems to be handling pretty well, I just want to confirm it is safe or okay to use with the pool at this time

Before activation my PR is compatible with older nodes. It doesn't accept segwit transactions in shares and the only extra check it does before activation (block weight instead of size limit) is exactly the same for non-segwit transactions.

BTW while we are at it, it would be possible to combine the segwit change with the ability to specify a P2SH address for payout. Are people interested in that? Or should we wait and update once segwit addresses are used?

[in2tactics]

BTW while we are at it, it would be possible to combine the segwit change with the ability to specify a P2SH address for payout. Are people interested in that? Or should we wait and update once segwit addresses are used?

You are assuming that segwit is going to happen. If it does, I do not see it happening any time soon.

[tubexc]

 Blocks !
 Where are you !?!

http://imgur.com/ZjfPfdS

[flameruk]

Blocks !
 Where are you !?!

http://imgur.com/ZjfPfdS

Yeah where, fingers crossed chance comes and luck turns real soon.
Nail biting times, looking at earnings selling on miningrigrentals then closing down the browser window.
Inset of panic.......

Its a long one but after a long one should come a few short ones.
Im hanging in here, its killing me but im hanging on in here.
Gonna kill me a while longer but im still gonna hang on here......

[veqtrus]

BTW while we are at it, it would be possible to combine the segwit change with the ability to specify a P2SH address for payout. Are people interested in that? Or should we wait and update once segwit addresses are used?

You are assuming that segwit is going to happen. If it does, I do not see it happening any time soon.

Allowing more payout types is independent of any other change (it could be implemented even on its own). If some other on-chain scaling proposal gains significant traction p2pool will need to be updated to it but currently only segwit is a mature proposal.

[tubexc]

Nice work
Good expectations 

http://imgur.com/RJMUOKX

[squidicuz]

On another note; Veqtrus, or anyone working on this as well... Is it safe to run Segwit versions with p2pool at this time?  The PR for Segwit seems to be handling pretty well, I just want to confirm it is safe or okay to use with the pool at this time

Before activation my PR is compatible with older nodes. It doesn't accept segwit transactions in shares and the only extra check it does before activation (block weight instead of size limit) is exactly the same for non-segwit transactions.

BTW while we are at it, it would be possible to combine the segwit change with the ability to specify a P2SH address for payout. Are people interested in that? Or should we wait and update once segwit addresses are used?

Awesome.  Thanks for the info.  In that case, I will update my remaining nodes..

I was interested in using a P2SH address for mining right to a multisig wallet waay back, but I never got around to implementing it.  Would your changes for segwit P2SH add support for that as well?  I say go for it if you want, we can always include it later, right?  Let me know and I'll make some time to test it out.

[veqtrus]

I was interested in using a P2SH address for mining right to a multisig wallet waay back, but I never got around to implementing it.  Would your changes for segwit P2SH add support for that as well?

Segwit and different output types are indipendent changes. What I am wondering is whether it would be better to wait for segwit and switch straight to segwit outputs and skip P2SH.

[Perseverance]

My random though of the day:

To implement "ELK stack" within p2pool in its entirety, and host Kibana for all, to see how efficient we can make every node connected...

[tubexc]

Latest news
This last block is very difficult to digest  

[Perseverance]

Latest news
This last block is very difficult to digest  

I second that..