Noobpool.com Ethereum mining, 0% pool fee!

[eagleye]

Ok,  Here's an explanation for NOOBs.  While your pool doesn't show actual shares of ethercoin like the big pools do, yours does show the percent shares of the current pool when a block found and paid out.  So, the question for the big pools is how can they promise you shares of ether for each nonce successfully solved without a block solution?  Statistics and I would guess more money for the pool somehow.

In a way, in the beginning here, your pool is similar to mining solo.  payouts are bigger if you can do it, but a 20M Hash GPU could take a whole year to find one.  Because our pool is small the rewards are greater when we find one. 

Now, based on your pool I calculated with the help of coinwarz calculators at todays difficulty how long it will take to mine.

I'll setup 500MH is about 25-30 days or with LUCK(the statistical chance) the block will be found sooner. 
At 1GH that's about a block every 10-14days and it goes up from there.
at 2 GH that's a block every 7 days.

I would expect exponential growth in this pool once we have found a block or two.  This will help the group find block quicker and payouts will slowly get smaller. Thus, first one in gets larger payouts.

While we can't see a chart or statistic of what we are making, the percent of the round share is the indication of how much you'll get when a block is found.

So, as an example, I'm at 3% that's .15 Ether paid out to me on the solution of a block.

With nanopool that would take me about 15 days.   I've got this share in just under 24 hours of mining noobpool, that's huge.  No win until we discover a block but when we do I am way ahead of nanopool.  As time progresses my success decreases but this gives us 14 days to find a block and with more miners joining the faster we find the block.

Now, my share may go down as more miners join, but we will also solve the block sooner.
This pool is a great opportunity to be first at something before everyone else jumps on board. 
Early bird catches the worm and I think we will get this first.

every moment your GPU runs it is mining on statistics and luck to find every NONCE.  I look at the NONCE finds and compare that to finding a block.  Eventually it will happen.  Not if, but when, even on a small pool such as this.

So, for those of you who get in early and stay with this I think the rewards will be greater, even though you can't see them until a block is found. Especially for us 15-30MH GPUs. 

[1714964688]

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[1714964688]

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[noobpool]

Ok,  Here's an explanation for NOOBs.  While your pool doesn't show actual shares of ethercoin like the big pools do, yours does show the percent shares of the current pool when a block found and paid out.  So, the question for the big pools is how can they promise you shares of ether for each nonce successfully solved without a block solution?  Statistics and I would guess more money for the pool somehow.

In a way, in the beginning here, your pool is similar to mining solo.  payouts are bigger if you can do it, but a 20M Hash GPU could take a whole year to find one.  Because our pool is small the rewards are greater when we find one. 

Now, based on your pool I calculated with the help of coinwarz calculators at todays difficulty how long it will take to mine.

I'll setup 500MH is about 25-30 days or with LUCK(the statistical chance) the block will be found sooner. 
At 1GH that's about a block every 10-14days and it goes up from there.
at 2 GH that's a block every 7 days.

I would expect exponential growth in this pool once we have found a block or two.  This will help the group find block quicker and payouts will slowly get smaller. Thus, first one in gets larger payouts.

While we can't see a chart or statistic of what we are making, the percent of the round share is the indication of how much you'll get when a block is found.

So, as an example, I'm at 3% that's .15 Ether paid out to me on the solution of a block.

With nanopool that would take me about 15 days.   I've got this share in just under 24 hours of mining noobpool, that's huge.  No win until we discover a block but when we do I am way ahead of nanopool.  As time progresses my success decreases but this gives us 14 days to find a block and with more miners joining the faster we find the block.

Now, my share may go down as more miners join, but we will also solve the block sooner.
This pool is a great opportunity to be first at something before everyone else jumps on board. 
Early bird catches the worm and I think we will get this first.

every moment your GPU runs it is mining on statistics and luck to find every NONCE.  I look at the NONCE finds and compare that to finding a block.  Eventually it will happen.  Not if, but when, even on a small pool such as this.

So, for those of you who get in early and stay with this I think the rewards will be greater, even though you can't see them until a block is found. Especially for us 15-30MH GPUs. 

Our pool rate has been hovering around the 500MH/s for a few days now, hopefully we can get it up to 1-2GH/s so we can find blocks faster and people can get their eth faster.  I'll soon be implementing an estimation of how much eth you'll receive once a block is found on your stats window.

[demorgue]

HI - I am interested is this as well - based in South Africa

Could you give a quick break down of the software that you are using - might consider setting up something similar for myself and a few friends

thnx

[pr0ximus]

HI - I am interested is this as well - based in South Africa

Could you give a quick break down of the software that you are using - might consider setting up something similar for myself and a few friends

thnx

Well, that would be costly. You could, with your friends, join this pool so you get fair share at a very faster rate than starting your own pool (0% fee too).

[lucifugo]

I setup a mining pool for new miners. It's focused on the more casual miners, people with lower hash rates (but others are welcome), simple instructions to be up and mining in minutes. It's built using the open ethereum pool source, and still looks a bit generic as I haven't spent much time to customize it yet.

The pool is setup on a dedicated, hosted server, 1gig network, 8 core super fast system. Payout is set at 0.05 and set to run payouts every 10 minutes.

People have been hesitant to join because it's not one of the BIG pools out there so they feel it's not stable or won't be around long.  I can assure you it's very stable and will be around a long time.  I've already paid 2 years of hosting for the dedicated server.  Hash rates are going up as more people join.  

Although this pool is designed for the smaller hash rate miners, larger rigs are welcome.  We can handle whatever you can throw at us.

Just visit http://www.noobpool.com to get started.

Hi noobpool,
I hope you'll read this reply.
I am mining on your pool and I'll stay there till we'll find a block. My account is 0xf6ad221...
I think would be useful if you add a way to contact you on the pool website.
Bye bye

[noobpool]

I setup a mining pool for new miners. It's focused on the more casual miners, people with lower hash rates (but others are welcome), simple instructions to be up and mining in minutes. It's built using the open ethereum pool source, and still looks a bit generic as I haven't spent much time to customize it yet.

The pool is setup on a dedicated, hosted server, 1gig network, 8 core super fast system. Payout is set at 0.05 and set to run payouts every 10 minutes.

People have been hesitant to join because it's not one of the BIG pools out there so they feel it's not stable or won't be around long.  I can assure you it's very stable and will be around a long time.  I've already paid 2 years of hosting for the dedicated server.  Hash rates are going up as more people join.  

Although this pool is designed for the smaller hash rate miners, larger rigs are welcome.  We can handle whatever you can throw at us.

Just visit http://www.noobpool.com to get started.

Hi noobpool,
I hope you'll read this reply.
I am mining on your pool and I'll stay there till we'll find a block. My account is 0xf6ad221...
I think would be useful if you add a way to contact you on the pool website.
Bye bye

Yeah, I'm going to set that up soon as well.  email is noob@noobpool.com in case you need it.  I do check these forums often.

[noobpool]

HI - I am interested is this as well - based in South Africa

Could you give a quick break down of the software that you are using - might consider setting up something similar for myself and a few friends

thnx

Setting up your own pool is a pretty big undertaking, you need a Linux system setup with a fast internet connection on a SSD if you don't want to wait days to sync up.  If you don't know Linux you will probably not be able to set it up as there are no windows pool software that I know of.

[eagleye]

I like the statistic numbers you have for percentage of round shares.  Would be nice to show a total by hour of jobs or shares successfully submitted and if possible for each miner.   In 3 days, i've accumulated a 5% share with my 35MH miners running 24/7  thats an amazing improvement to other large pools, based on expected return.  I'm still way ahead of the other pools when the first block is found by several weeks. 

This really is a chance for the small guy to get a bigger portion of the block win.  What happened in 3 days would take 3 weeks with another large pool.  I've seen some larger miners jump on and then jump off instead of staying around for the endurance round.  I think staying with the pool now is most important as we are getting closer to finding a block.  It's not a matter of if but when and the when should be sooner.  Imagine jumping out a day before the first block is found.

[noobpool]

I like the statistic numbers you have for percentage of round shares.  Would be nice to show a total by hour of jobs or shares successfully submitted and if possible for each miner.   In 3 days, i've accumulated a 5% share with my 35MH miners running 24/7  thats an amazing improvement to other large pools, based on expected return.  I'm still way ahead of the other pools when the first block is found by several weeks. 

This really is a chance for the small guy to get a bigger portion of the block win.  What happened in 3 days would take 3 weeks with another large pool.  I've seen some larger miners jump on and then jump off instead of staying around for the endurance round.  I think staying with the pool now is most important as we are getting closer to finding a block.  It's not a matter of if but when and the when should be sooner.  Imagine jumping out a day before the first block is found.

Even if someone only mines for a day and leaves, they will still get their payment once a block is found if they mined enough to reach the 0.05eth threshold.  So even if they are not there mining when the block is found, they get paid for the help they did give.

I'm still working on improvements to the website to show more detailed statistics so people have a better idea of how much they are mining and an estimate of how much they will earn when the block is mined.

[eagleye]

The calculation is simple from the percentage.  I just base that on the 5 ether block payout as a potential, but that number can go up or down slightly as miners join or leave the pool.  Is there any additional payout for 'uncles' found?  That would be an unexpected bonus but I guess we wouldn't know until the block is solved. 
 I know that you recorded work performed even after they leave, which is the right thing to do, but their percentage will decrease over time as the pool continues to mine.  Which was my point.  Why leave when the pool is close to a solution now and instead continue to maintain the percentage or build on it.

I don't base payment on a dollar amount but only on the number of potential coins for deposit.  That is the number i am comparing to large pools and the number that currently could be much higher in this pool.

I still say this is a much better pool for small 1-10 GPU miners vs. Large pools.  This pool can build off this base.

[lucifugo]

A telegram chat would be nice and very easy to setup.

[noobpool]

A telegram chat would be nice and very easy to setup.

I'll look into that, currently working on setting up an ETC node as well, will be etc.noobpool.com and will keep eth at noobpool.com

[metacrypto]

Like what you're doing here man I pointed my rig at your pool.  The chat and projections would be a dope idea too, let's mine some eth bois!
-miner ..2480d

[noobpool]

Like what you're doing here man I pointed my rig at your pool.  The chat and projections would be a dope idea too, let's mine some eth bois!
-miner ..2480d

Something with my estimated earnings syntax was off, killed the whole stats window, I quickly changed it back to a working version.  Just gotta figure out what I did wrong.  Depending on how drunk I get tonight or how long I'm going to be gone tomorrow, I should get the chat up and running in a day or two.  Probably tomorrow night.

[lucifugo]

Can you guys explain me what the stat Current Round Variation means?

[vv181]

I got a blank page when I open the site,
anyone have same issue?

[lucifugo]

No, I am browsing the page at the moment.

[noobpool]

We found our first block an hour ago and payments are going out.  Congrats to us!

[lucifugo]

We found our first block an hour ago and payments are going out.  Congrats to us!

 
 0.39567279 eth for me! 

[noobpool]

 0.39567279 eth for me! 

Now that the payment's went out with our first block and our hash rate is up, hopefully it will continue to rise so we can mine blocks a bit faster, 1 every couple days would be nice.  It took about an hour from the time the block was found until it was verified and all payments sent out.