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

[murdof]

I'm presuming that as their new p2pool code is open source, it will be configurable in the same way it is now, so anyone can still have their own node?.....Maybe their hosted miners can also be configured this way too, so that it can be pointed at any node the user wishes? Just speculating, of course......

Yes no problem with that.
Thing is that in 12 months time - even in 3 months time a miner of 1TH/s might be useless to run at home/datacenter.
And where can I buy a new one from?
So in other words who needs an excellent working P2Pool when nobody will have miners at their homes making ROI.

The manufacturers are taking away the benefits we have with P2Pool with forcing cloud mining only (and by forcing I mean if they sell to us miners that will never ROI).

[coinme.info]

I'm presuming that as their new p2pool code is open source, it will be configurable in the same way it is now, so anyone can still have their own node?.....Maybe their hosted miners can also be configured this way too, so that it can be pointed at any node the user wishes? Just speculating, of course......

That would be nice but the latency would be bad if my miners were in China and my p2pool / ANTPOOL in New Zealand. Can't see how that would work.

They must have something planned to back up their claim "the whole Bitcoin community will never be anxious about the potential risks of the decentralization risk associated with the pool mining model now."

I feel the time frame is a bit tight to buy into Round 1, on the 2nd without knowing a bit more about how this will work.

Unless ANTPOOL allows us to continue running our p2pool nodes with local miners and we somehow can "top up" by buying GHs on the farm. Our hosted miners add to our shares irrespective of geo location.

But then we are just into a vicious spiral of continually spending our hard mined BTCs on more miners to make more BTCs to spend on more miners...

I'm starting to feel like a BTC mining junkie, never able to quite get ahead enough to get out of the game.

[PatMan]

I'm starting to feel like a BTC mining junkie, never able to quite get ahead enough to get out of the game.

I know, I've felt like this for the last 2 years......

After so many months of inactivity on the p2pool dev side, I'm just happy to see something happening at last. It's either this or nothing, & I think we're all pretty tired of nothing. Once the code is released, I'm sure some good will come of it.......

[mdude77]

Official subscribed flat price is 0.0016 BTC/Gh/s.

Each user is limited to a maximum of 1,000Gh/s.

Maintenance fee of $0.0032424/GH/s/Day.

So max buy in is 0.0016 BTC/Gh/s x 1,000Gh/s = 1.6BTC

Maintenance fee of $0.0032424/GH/s/Day = $3.2424 per day or $98.623 per month

So a hosted S2 in China for 1.6BTC & $3.24 per day including power etc.

This price is a bit steep IMHO.  1.6 BTC for 1 tH/s?  Can do better with 3 S3s if you have PSUs already, and electric cost is about the same or less.

M

[mdude77]

Official subscribed flat price is 0.0016 BTC/Gh/s.

Each user is limited to a maximum of 1,000Gh/s.

Maintenance fee of $0.0032424/GH/s/Day.

So max buy in is 0.0016 BTC/Gh/s x 1,000Gh/s = 1.6BTC

Maintenance fee of $0.0032424/GH/s/Day = $3.2424 per day or $98.623 per month

So a hosted S2 in China for 1.6BTC & $3.24 per day including power etc.

This price is a bit steep IMHO.  1.6 BTC for 1 tH/s?  Can do better with 3 S3s if you have PSUs already, and electric cost is about the same or less.

M

Also, that's roughly 30% maintenance fee at current BTC USD value.  Painful times.

M

[coinme.info]

After so many months of inactivity on the p2pool dev side, I'm just happy to see something happening at last. It's either this or nothing, & I think we're all pretty tired of nothing. Once the code is released, I'm sure some good will come of it.......

Totally agree with you on this. I hope it allows small miners to remain in the game, even the people with just an S1.

[coinme.info]

Official subscribed flat price is 0.0016 BTC/Gh/s.

Each user is limited to a maximum of 1,000Gh/s.

Maintenance fee of $0.0032424/GH/s/Day.

So max buy in is 0.0016 BTC/Gh/s x 1,000Gh/s = 1.6BTC

Maintenance fee of $0.0032424/GH/s/Day = $3.2424 per day or $98.623 per month

So a hosted S2 in China for 1.6BTC & $3.24 per day including power etc.

This price is a bit steep IMHO.  1.6 BTC for 1 tH/s?  Can do better with 3 S3s if you have PSUs already, and electric cost is about the same or less.

M

My view as well and given that these S2s have probably been running for how many months already?

[mdude77]

Official subscribed flat price is 0.0016 BTC/Gh/s.

Each user is limited to a maximum of 1,000Gh/s.

Maintenance fee of $0.0032424/GH/s/Day.

So max buy in is 0.0016 BTC/Gh/s x 1,000Gh/s = 1.6BTC

Maintenance fee of $0.0032424/GH/s/Day = $3.2424 per day or $98.623 per month

So a hosted S2 in China for 1.6BTC & $3.24 per day including power etc.

This price is a bit steep IMHO.  1.6 BTC for 1 tH/s?  Can do better with 3 S3s if you have PSUs already, and electric cost is about the same or less.

M

My view as well and given that these S2s have probably been running for how many months already?

If winter was just wrapping up in the northern hemisphere, and lots of warm weather was ahead, I'd consider it.

But cold weather is coming this side of the world.  Once again my space heaters can be put to good use.

M

[murdof]

So how is Matt's fork running guys?

I wanted to ask if Matt's fork is lifting the issue of having to use low latency connections for P2Pool.

[norgan]

Nearly 4Ph/s! Are we starting to bitmains hash from this new cloud service?

[windpath]

So how is Matt's fork running guys?

I wanted to ask if Matt's fork is lifting the issue of having to use low latency connections for P2Pool.

Been running the fork for about 4 days, no issues, works great. I noticed this morning that there is an upgraded version already, will update to that today and keep testing.

Matt's fork does NOT have any effect on typical p2pool shares, it only relays found Bitcoin blocks, and p2pool latency is still something to keep a close watch on.

[jonnybravo0311]

So, Bitmain changed the price of their new cloud mining contract to 0.00135BTC, down from 0.0016BTC.  Still never going to make a positive ROI.  It's just another cloud mining scheme designed to put money into the pockets of the service providers.  Ask yourself this: would you purchase an S2 right now for 1.35BTC?  Even with $0.10/kWh electric costs, you'll need the difficulty jumps to be under 6.5% to turn a profit.  Good luck.  Now, look at Bitmain's offering.  They'll sell you 1TH/s of mining, but charge you 37% fees.  That 37% will change as the price of BTC fluctuates.

As for the p2pool impact, I sure hope Bitmain has figured out how to deal with the variance problem.  Throwing another 4PH/s onto the network will mean share difficulties of about 50M.

[windpath]

...

As for the p2pool impact, I sure hope Bitmain has figured out how to deal with the variance problem.  Throwing another 4PH/s onto the network will mean share difficulties of about 50M.

Yea, I asked about it in their announcement thread, that 4PH will basically annihilate many p2poolers if they have not come up with some radical change to how p2pool calculates/makes payments.

I'll suggest now, possibly prematurely, that this may be the catalyst to have 2 separate P2Pool share chains running independently.

[mdude77]

...

As for the p2pool impact, I sure hope Bitmain has figured out how to deal with the variance problem.  Throwing another 4PH/s onto the network will mean share difficulties of about 50M.

Yea, I asked about it in their announcement thread, that 4PH will basically annihilate many p2poolers if they have not come up with some radical change to how p2pool calculates/makes payments.

I'll suggest now, possibly prematurely, that this may be the catalyst to have 2 separate P2Pool share chains running independently.

I would assume that p2pool will fork, and the one we are currently using will die.  That's assuming, of course, the antp2pool addresses the issues.

M

[pmorris]

Check this out:

https://bitcointalk.org/index.php?topic=765128.msg8620903#msg8620903

Bitmain are going p2pool BIG time.....

Seems we might just have found our new devs...........

It's good to see something happening on development front.

If they attach a few PH/s to could this swamp p2pool though? Won't this cause share difficulty to rise and push out smaller miners even more quickly than at present?

I had been thinking about how to minimize the impact of wide ranges of hashrates to help smaller miners reduce their volatility. Like enforcing variable difficulty levels to target a small number of shares so there is room for more individual miners in the PPNS payout.

Maybe Bitmain have thought about all this and are incorporated something to preserve the p2p nature when you have one node (or a few collected ones) which are much bigger than others.

Will be interesting to see what they are up to.

[windpath]

Update: P2Pool.org

This morning we temporarily redirected to http://p2pool.org to http://minefast.coincadence.com

On Monday September 8, it will be redirected to the new p2pool.org site.

The temporary redirect should give legacy p2pool.org Bitcoin miners time to reconfigure their equipment before the new site is launched.

The new p2pool.org will not include a public node, however it will include resources and tips for finding a nearby node to mine on if you choose not to set up your own.

[K1773R]

Update: P2Pool.org

This morning we temporarily redirected to http://p2pool.org to http://minefast.coincadence.com

On Monday September 8, it will be redirected to the new p2pool.org site.

The temporary redirect should give legacy p2pool.org Bitcoin miners time to reconfigure their equipment before the new site is launched.

The new p2pool.org will not include a public node, however it will include resources and tips for finding a nearby node to mine on if you choose not to set up your own.

Thanks for the move against public node on p2pool.org.
Please also host (or link) information on how to setup p2pool on your own PC/server.

[windpath]

Update: P2Pool.org

This morning we temporarily redirected to http://p2pool.org to http://minefast.coincadence.com

On Monday September 8, it will be redirected to the new p2pool.org site.

The temporary redirect should give legacy p2pool.org Bitcoin miners time to reconfigure their equipment before the new site is launched.

The new p2pool.org will not include a public node, however it will include resources and tips for finding a nearby node to mine on if you choose not to set up your own.

Thanks for the move against public node on p2pool.org.
Please also host (or link) information on how to setup p2pool on your own PC/server.

It will include lots on info on mining on and setting up p2pool...

[PatMan]

Anyone tried running p2pool with pypy? Just curious after Matt said he was going to test his relay with it.......

[spiccioli]

Anyone tried running p2pool with pypy? Just curious after Matt said he was going to test his relay with it.......

I did in the past, there are several message about pypy if you search for pypy.

https://bitcointalk.org/index.php?topic=18313.msg807457;topicseen#msg807457

This is mine, I did not see any real difference back then.

spiccioli