This is a neglected mining pool that is currently running with little support.https://arsbitcoin.com/
This pool uses a 0% Fee PPS system, SMPPS. You can read more details about how it works in the SMPPS section below.
While the pool has 0% fees, the default donation percentage is set to 1% for new accounts to help encourage donations. Please consider leaving it there, or at least keeping a 0.5% donation. You are free to change this to any value (including 0%) in the account details. My favorite miners give 2.5% or more Background:
There were some requests in the http://arstechnica.com
community for a bitcoin mining pool. I have answered those requests and created one!
The pool is at: https://arsbitcoin.com/. The server is hosted in the US on the East Coast.
Join us on freenode IRC in #arsbitcoinFeatures:
- No fees on 50 BTC block (0%). Pool keeps transaction fees.
- The pool must wait for the standard 120 confirmations before having BTC available for payout.
- We use SMPPS for payout calculation, which ensures that you aren't losing any BTC to pool hoppers!
- There are 0% mandatory fees! However, the default donation for new accounts is set to 1%. You are welcome to change it to 0% and make me sad
- Automatic (> 0.5 BTC) or manual payout
- Long Polling
- API for monitoring workers
- Email notifications on payout and address change
- SSL support for website
Here is the psuedo-code for SMPPS: http://eligius.st/wiki/index.php/Shared_Maximum_PPS
This payout method will even out payments and provide a constant expected value per share. This means that pool hopping is worthless on this pool, as round length essentially doesn't matter. The 'cost' of this method, is that your expected payout can be delayed if the pool has long rounds. This is the only way to do PPS without charging a fee (otherwise the pool can easily go in the hole.) If the pool is lucky (like it has been!) it saves the BTC to pay out on the long rounds. All said, you can expect to earn much more BTC here than Deepbit with a 10% PPS fee, for example.
1) All submitted shares earn you an exact amount of BTC. This BTC will keep adding up as "Total PPS Work". This is (1 / difficulty) * 50 BTC per share. This is the expected value of each share submitted.
2) When the pool solves a block and gets 120 confirmations (releasing the 50BTC), the pool then tries to do a payout as follows. If the "Total PPS Work" for everyone is LESS than 50 BTC (it was a short round), everyone gets paid their full "Total PPS Work". If the work is GREATER than 50 BTC (long round) the pool pays as much as it can, evenly distributed (If 5 people each have Total PPS work of 2 BTC, but the pool only has 5 BTC to pay, each person gets 1 BTC now, and the pool will pay the rest when it gets more BTC.) It does not prioritize "older" shares, as that felt a bit like a pyramid scheme.
3) Everytime the pool gets more BTC, it tries to pay as much as it can to everyone who's Paid PPS Work is less than their Total PPS work. It will do this even if you stop mining.
There is a new chart that shows you daily totals for "Total PPS Work" and "Paid PPS Work", and I will continue to improve this chart.If you see this post and decide not to try out the pool, post here and let me know why! I'm always working to make improvements!
This pool runs the latest bitcoind, a customized pushpoold, and customized front-end based off of Xenland/Simplecoin/Ozco.in. You can help support the pool by setting the optional donation percentage in your account settings, or by donating to: 1KAwU7iChcihVw4GMqz7heGF4wC8Q98fsc
If you need help or have questions, you can post here or email me at email@example.com
If you would like to vote on what features to add next, go ahead and post that too!
Why should you trust me?
Original Ars Technica thread: http://arstechnica.com/civis/viewtopic.php?f=18&t=1144334
Bitcoin-OTC ratings http://bitcoin-otc.com/viewratingdetail.php?nick=BurningToad&sign=ANY&type=RECV
I would not want to jeopardize my standing in either community (been at Ars 11 years!) so I will do my best to ensure everything is fair and no one misses out on anything they are owed from mining in my pool!