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xenon481
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May 15, 2011, 04:12:22 PM |
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How are they useless? Which is better? Get the bitcoins now, or get them hours later?
I think you know the logical answer.
The logical answer is that it doesn't matter when you get them since it only takes less than 20 hours. BFD. You are still getting BTC now, so what if it was the BTC that you earned 20 hours ago? It's all the same. Money is fungible. Don't pay for useless features that only play to emotional irrationality. If there are other features of deepbit you would pay an extra 1% for, then that is perfectly fine. But those two "features" aren't worth it. |
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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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dikidera
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May 15, 2011, 04:14:55 PM |
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Of course it matters. Say i am in deal for trading bitcoins for some goods. That means i need the bitcoins now not in 20 hours.
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xenon481
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May 15, 2011, 04:16:46 PM |
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Of course it matters. Say i am in deal for trading bitcoins for some goods. That means i need the bitcoins now not in 20 hours.
If you hadn't been paying [Tycho] that extra 1% constantly, you'd already have those extra BTC that you "need right now". |
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1bitc0inplz
Member
 Offline
Activity: 112
Merit: 10
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May 15, 2011, 04:17:29 PM |
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Of course it matters. Say i am in deal for trading bitcoins for some goods. That means i need the bitcoins now not in 20 hours.
Do you get to walk up to your boss and ask for your paycheck whenever you feel like it? No. You get paid on a schedule. Learn to budget. |
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dikidera
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May 15, 2011, 04:20:05 PM |
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Learn to budget
No thanks. If you hadn't been paying [Tycho] that extra 1% constantly, you'd already have those extra BTC that you "need right now". Oh really? With a 5850? In prop on deepbit per found block i get 0.01. which of course is low. I don't know what fees slush has, but if it takes the pool 5 hours to find a block, and i get 0.05. It's all the same. Those extra btc would have been just one bitcoin. |
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rezin777
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May 15, 2011, 04:38:35 PM |
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Oh really? With a 5850? In prop on deepbit per found block i get 0.01. which of course is low. I don't know what fees slush has, but if it takes the pool 5 hours to find a block, and i get 0.05. It's all the same. Those extra btc would have been just one bitcoin.
Slush's fee 2% [Tycho]'s fee 3% |
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yuancraft
Member
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Activity: 63
Merit: 10
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May 15, 2011, 05:17:05 PM |
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If you hadn't been paying [Tycho] that extra 1% constantly, you'd already have those extra BTC that you "need right now". Oh really? With a 5850? In prop on deepbit per found block i get 0.01. which of course is low. I don't know what fees slush has, but if it takes the pool 5 hours to find a block, and i get 0.05. It's all the same. Those extra btc would have been just one bitcoin.
So you can't see the different that is because your machine having a very small of rewards, you just thinking of you have 10 * 5850, then... you will know what the slush 's guy think  And what you think about tycho 's pool is DELAYED A HOUR for calculate the reward that his pool just solved? i think it the same in both pool man  ps: Slush 's pool takes 5 hours to find a block is because of the problem in last weekend cause "some people" left the pool and after slush fixed the problem: "those some people" think: "slush pool take 5 hours for a block!!" =)) |
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Meni Rosenfeld
Donator
Legendary
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Activity: 2058
Merit: 1054
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May 15, 2011, 05:57:25 PM |
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I think deepbit's long polling and payouts for invalid blocks makes up for the fee difference, so please drop the "you're an idiot if you pay 3% to deepbit" attitude.
Basic economic theory says that money now is better than money later (with implications to both maturity delay and instant payouts).
Regardless of this, instant payout is a useful feature for many reasons, financial too but also technical. Of course it should usually be used in conjunction with thresholded automatic payments. There's no excuse not to include it, and there's no need to call those who want it "irrational".
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dishwara
Legendary
Offline
Activity: 1855
Merit: 1016
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May 15, 2011, 07:10:49 PM |
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Instant payout option gives coins confirmed instantly, thats a quite good feature need to be added.
But also other features, like wallet id changing, password changing.......have to be notified by email, as slush notifies the payment in email needs to be added.
Not visiting site may cause danger, as i learnt lesson hard way after loosing 2.2 bitcoins from bitcoinpool, coz i didn't visit the website often, so didn't know that my account was hacked & my wallet id changed. Instead of me, some one took my coins.
Money about now & money about later, Instead of selling coins when the rate was 1 BTC = ~8 USD, i waited hoping that it will reach 9 USD.
Now i cannot convert coins to usd coz of very low price, so i can't able to pay for hardware, so it will further delay the cards to ship me, which will delay my mining company to start mining, which will make my share holders unhappy.
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1bitc0inplz
Member
Offline
Activity: 112
Merit: 10
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May 15, 2011, 07:30:24 PM |
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Instant payout option gives coins confirmed instantly, thats a quite good feature need to be added.
But also other features, like wallet id changing, password changing.......have to be notified by email, as slush notifies the payment in email needs to be added.
Not visiting site may cause danger, as i learnt lesson hard way after loosing 2.2 bitcoins from bitcoinpool, coz i didn't visit the website often, so didn't know that my account was hacked & my wallet id changed. Instead of me, some one took my coins.
Money about now & money about later, Instead of selling coins when the rate was 1 BTC = ~8 USD, i waited hoping that it will reach 9 USD.
Now i cannot convert coins to usd coz of very low price, so i can't able to pay for hardware, so it will further delay the cards to ship me, which will delay my mining company to start mining, which will make my share holders unhappy.
But... one way to control the adverse effects of wild price fluctuations is to apply cost averaging to your bitcoin transactions. If you always sell you bitcoins on a fixed day of the week, regardless of what they are worth in USD, you will average out the fluctuations. In theory this will allow you to stop worrying about the day to day price movements, and stop trying to "time" the market. If applied consistently, you're average should turn out the same in the end. Just a little FYI, since the topic of price fluctuations came up. |
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cablepair
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May 15, 2011, 08:10:12 PM |
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Steady mining = steady payout
And I really don't see how having an instant payout option is that important (for me)
Unless you are feeding your children with BTC, I am doing this as an investment and if I get my reward now or in an hour its not going to make much of a difference. If you are making the argument that it slows down your trading that really is not valid either as long as mtgox takes takes its sweet time to confirm your deposit (which it certainly does) as far I can tell the nature of the btc network, its nodes, and the confirmations negate instantaneousness as a general rule.
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cablepair
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May 16, 2011, 12:11:25 AM |
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But... one way to control the adverse effects of wild price fluctuations is to apply cost averaging to your bitcoin transactions. If you always sell you bitcoins on a fixed day of the week, regardless of what they are worth in USD, you will average out the fluctuations. In theory this will allow you to stop worrying about the day to day price movements, and stop trying to "time" the market. If applied consistently, you're average should turn out the same in the end.
Just a little FYI, since the topic of price fluctuations came up.
if your worried timing and catching the best price why not just put in an open order for the price you want and then when the market reaches that price your order will automatically go through. Thats what I do and it saves me a lot of stressing out and watching the markets all day. Set open order to sell high and then to buy low, repeat repeat get rich. wam bam thank you mam ;> iMMUNE 1PhXJtPyUQdfS8gHmqsAmt1K5YHrFoP5K4 |
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dishwara
Legendary
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Activity: 1855
Merit: 1016
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May 16, 2011, 05:26:05 AM |
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You all said above are correct. But my case is different. If you can see my signature, you may understand.
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allinvain
Legendary
Offline
Activity: 3080
Merit: 1080
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May 16, 2011, 07:06:41 AM |
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Anyone has an idea when this pool will support LP? Or is the score based system somehow incompatible with LP.
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Meni Rosenfeld
Donator
Legendary
Offline
Activity: 2058
Merit: 1054
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May 16, 2011, 07:23:45 AM |
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Anyone has an idea when this pool will support LP? Or is the score based system somehow incompatible with LP.
I don't know a lot about long polling but I can't think of any reason whatsoever it should be incompatible with score-based. |
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slush (OP)
Legendary
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Activity: 1386
Merit: 1097
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May 16, 2011, 07:26:39 AM |
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Anyone has an idea when this pool will support LP?
Soon. Or is the score based system somehow incompatible with LP.
Fortunately no  |
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milk
Newbie
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Activity: 48
Merit: 0
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May 17, 2011, 08:14:06 AM |
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Just noticed i wasnt logged in for 7 hours  Could you implement a login refresh once per hour ? Would be nice.. Thanks |
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slush (OP)
Legendary
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Activity: 1386
Merit: 1097
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May 17, 2011, 09:09:03 AM |
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Just noticed i wasnt logged in for 7 hours Could you implement a login refresh once per hour ? Would be nice.. Thanks What is login refresh? |
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NielDLR
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May 17, 2011, 09:41:09 AM |
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I've joined the pool. Using guiminer and have connected to slush's pool. It's however not mining. It keeps saying "connecting..." and doesn't go further. Any tips, or other programs I can try out? I have created an account on http://mining.bitcoin.cz Thanks in advance. |
The Cypherfunks - A decentralized band and cryptocurrency. The first cryptocollective.
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slush (OP)
Legendary
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Activity: 1386
Merit: 1097
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May 17, 2011, 09:54:08 AM |
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I've joined the pool. Using guiminer and have connected to slush's pool. It's however not mining. It keeps saying "connecting..." and doesn't go further. Any tips, or other programs I can try out? I have created an account on http://mining.bitcoin.cz Thanks in advance. Please post here your command line options (except password, of course). |
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