DGM pools -- bitparking, EMC, etc.

[drlukacs]

I have been a bitparking (http://mmpool.bitparking.com/pool)  miner for a while, but the raise of the PPS fees from 2.5% to 5% made me look for other options.

Eclipse Mining Consortium (https://eclipsemc.com/) appears to be having a 0% fee on DGM shares.

If so, why do other pools impose any fee?

Why do miners are willing to pay a fee for participating a DGM pool if 0% DGM pools are available?

[danburyKid]

i thought bitparking wsa down neway?

[doublec]

I have been a bitparking (http://mmpool.bitparking.com/pool)  miner for a while, but the raise of the PPS fees from 2.5% to 5% made me look for other options.

The fee is to pay for costs of operating the pool, build reserves for operating the PPS side of things, and to pay for the time involved in support and upkeep of the pool.

You are complaining about the increase in PPS but higher PPS fees are necessary to keep pools in operation. Did you read the part of my "Upcoming Changes" that explained the reserve requirements for PPS pools? Do you have The 3,000 BTC necessary to keep a reserve for a low fee pool? PPS pools can pay hundreds of BTC of funds keeping the PPS pool going through the bad luck periods. I need to raise the fees to reduce the chances of pool bankruptcy. Just like all the other low fee PPS pools like Mt Red and Ozcoin.

Why do some other pools have 0% fees? I don't know - maybe they get subsidized hardware to run it. Maybe they have plenty of money and it doesn't matter to them what it costs.

As a miner you are free to choose where to mine. Have fun choosing.

[wmikrut]

I have been a bitparking (http://mmpool.bitparking.com/pool)  miner for a while, but the raise of the PPS fees from 2.5% to 5% made me look for other options.

The fee is to pay for costs of operating the pool, build reserves for operating the PPS side of things, and to pay for the time involved in support and upkeep of the pool.

You are complaining about the increase in PPS but higher PPS fees are necessary to keep pools in operation. Did you read the part of my "Upcoming Changes" that explained the reserve requirements for PPS pools? Do you have The 3,000 BTC necessary to keep a reserve for a low fee pool? PPS pools can pay hundreds of BTC of funds keeping the PPS pool going through the bad luck periods. I need to raise the fees to reduce the chances of pool bankruptcy. Just like all the other low fee PPS pools like Mt Red and Ozcoin.

Why do some other pools have 0% fees? I don't know - maybe they get subsidized hardware to run it. Maybe they have plenty of money and it doesn't matter to them what it costs.

As a miner you are free to choose where to mine. Have fun choosing.

+1

I read the upcoming changes and I think they are just fine, and necessary, if we want to see Bitparking survive.

[drlukacs]

[+1

I read the upcoming changes and I think they are just fine, and necessary, if we want to see Bitparking survive.

While the changes may be justified with respect to the PPS fees, I am still puzzled about the DGM fees. How can other pools survive without imposing any fees on DGM?

To put it differently, what it is that bitparking offers that EMC does not with respect to the DGM?

[wmikrut]

[+1

I read the upcoming changes and I think they are just fine, and necessary, if we want to see Bitparking survive.

While the changes may be justified with respect to the PPS fees, I am still puzzled about the DGM fees. How can other pools survive without imposing any fees on DGM?

To put it differently, what it is that bitparking offers that EMC does not with respect to the DGM?

You mean other than a trustworty op, highly stable pool, the only pool offering merged mining of 3 types of alt coins, good support, regular notifications and updates, backup stratum pools... maybe its best for doublec to answer.

No, really... i do not mean to come off as sarcastic.
Other pools have the same (and higher fees) without even a quarter of what bitparking offers.

[drlukacs]

You mean other than a trustworty op, highly stable pool, the only pool offering merged mining of 3 types of alt coins, good support, regular notifications and updates, backup stratum pools... maybe its best for doublec to answer.

No, really... i do not mean to come off as sarcastic.
Other pools have the same (and higher fees) without even a quarter of what bitparking offers.

EMC has:
-- a mining speed of 2500 GH/s (see https://eclipsemc.com/block_stats.php)
-- over 2000 miners
-- 3 servers
-- email notifications of changes and deposits
-- email notifications for failing miners

To be clear, I am not advocating for EMC (or any other pool), rather, I am trying to understand what bitparking has to offer that EMC does not have.

[Ascholten]

I like the fact that you can mine other currencies concurrently with your bitcoin mining on Bitparking.  It's like a little extra cash at the end of the month when I combine them and trade them for BTC's

I have used Vircurex to generate wallets for the other currencies that are mineable on Bitparking and have the payments sent there.  I found it just to be so much easier that way, don't have to frick around with all different clients etc etc to work your 'coins'.

Here is a link if you are interested.

 https://vircurex.com/welcome/index?referral_id=263-4573

my Refid is 263-4573 if you wish to use me as a referral.  you should get discounts on your trading there too.

once a month or whenever, I will trade the other currencies I have accumulated for BTC, or play the market with them.  I recently did a deal where I got a bunch of namecoins for 2.5 cent each then recently sold them for 6 cent each.

Of all the pools, Bitparking seemed to have the lowest fees.  The ability to mine other coins was icing on that cake.

I do not know of any other mining pools that allow you to mine 4 different currencies at once.  If there are any, please let me know.


Some people may not care for that.  If that is the case, then you may want to switch to another pool if the fees here seem too high for you.

Aaron

[drlukacs]

I like the fact that you can mine other currencies concurrently with your bitcoin mining on Bitparking.  It's like a little extra cash at the end of the month when I combine them and trade them for BTC's

[...]

I do not know of any other mining pools that allow you to mine 4 different currencies at once.  If there are any, please let me know.

Can you explain what you mean by "at once"?  If you use your GPU for one, you are not using for the other.  In other words, while your GPU is mining namecoins, it is not bitcoins, and vice versa. So, unless namecoin is more economic to mine, you are actually losing money when use your rig for mining something other than bitcoins. And if namecoin is more economic, then one should be mining that all the time.

Am I missing something?

By the way, http://coinotron.com has a large variety of coins to mine.

[doublec]

Am I missing something?

Yes, you are missing something. The pool 'merge mines', it doesn't mine each coin individually. This means a single hash from your miner is used to solve blocks across all the coins. See here: http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work

[drlukacs]

Yes, you are missing something. The pool 'merge mines', it doesn't mine each coin individually. This means a single hash from your miner is used to solve blocks across all the coins. See here: http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work

So, what happened with my rewards for these shares in alternative coins?

I received rewards only in bitcoins, with no indication of any other rewards.

[doublec]

So, what happened with my rewards for these shares in alternative coins?

I received rewards only in bitcoins, with no indication of any other rewards.

Did you register addresses for the other coins? You only receive rewards for coins you have registered. As it says on the registration form "Enter a namecoin address or leave blank to receive none."

[doublec]

To be clear, I am not advocating for EMC (or any other pool), rather, I am trying to understand what bitparking has to offer that EMC does not have.

EMC doesn't merge mine, so you are missing out on income from namecoins,devcoins, and ixcoins. EMC doesn't pay orphans, Bitparking does which eats into the fee quite a bit. It may be that none of this matters to you in which case, yes, EMC might be a better pool for you.

[cassini]

EMC doesn't pay orphans, Bitparking does

Considering we've had around 1.2 % orphan blocks during the last 12 months, a 1.5 % fee is next to nothing. And if I include losses from "accidents" like the blockchain fork a few weeks ago I'm quite amazed how some of the pools survived at all.

[drlukacs]

EMC doesn't merge mine, so you are missing out on income from namecoins,devcoins, and ixcoins. EMC doesn't pay orphans, Bitparking does which eats into the fee quite a bit. It may be that none of this matters to you in which case, yes, EMC might be a better pool for you.

Can you explain how these rewards (in namecoins, devcoins, and ixcoins) are being calculated?

[doublec]

Can you explain how these rewards (in namecoins, devcoins, and ixcoins) are being calculated?

They are calculated the same as PPS in bitcoin, but with a 2.5% fee.

[drlukacs]

Can you explain how these rewards (in namecoins, devcoins, and ixcoins) are being calculated?

They are calculated the same as PPS in bitcoin, but with a 2.5% fee.

So, if I submit 1 share, then I will get each of the rewards listed, in the respective currencies?

[doublec]

So, if I submit 1 share, then I will get each of the rewards listed, in the respective currencies?

Yes, if you've registered an address for them.

[Ascholten]

Each different currency has it's own hash rate, it's own difficulty, value, etc etc,  JUST like bitcoin.

When you signed up, IF you put in an address for these different currencies, you will be mining them along with your bitcoin.
If you did not put in an address then you will NOT be mining them.

No worries though simply re register with a different name and then add your wallets for these different currencies.
Then you can take payouts Of them to your respective wallets.

If you do not want to have to search out / download / install/ get working all the different coin type wallets.  You can goto an exchange like vircurex for example and create a wallet there.
The money goes there, and you can do what you want with it then.

Aaron

[drlukacs]

Each different currency has it's own hash rate, it's own difficulty, value, etc etc,  JUST like bitcoin.

When you signed up, IF you put in an address for these different currencies, you will be mining them along with your bitcoin.
If you did not put in an address then you will NOT be mining them.

Can you elaborate on what it means to mine them along with my bitcoins.

What was suggested here (and I am not sure if it is correct) that the same computation can be used for both mining bitcoins and other cryptocurrencies. In other words, that by putting addresses for more than one currency, I will not lose some of my computational capacity to mining things other than bitcoins.

If so, then for 1 share that I submit, I am to receive both 1 unit of reward for bitcoin mining, but also 1 unit of reward for each of the other coins.

Is this how it works?

If not, then now it works exactly in terms of rewards?