Join a pooled bitcoin mining effort

[bober182]

You would get 2 transaction with the value of 266khash at time of generation.

[1714006086]

1714006086

[1714006086]

1714006086

[1714006086]

1714006086

[doublec]

I have a question about the information that bitcoinr print. The khash/s is per instance or per adress? For exemple if i have two instance withthe same adress that show 266 khash/s, I have a total of 532 khas/s or 266 khash/s ?
Thanks in advance for your answers

The khash/s value is per instance. The estimate on how many bitcoins you'll receive is per address.

[grondilu]

Do you plan on publishing your production numbers and how it will have been distributed amonst participants ?

I'm quite skeptical about pool mining but maybe if you can show me it actually works I'll be convinced to join.

[FairUser]

With pooled mining, people should be getting paid for their fair share of work.
As a proof of concept, I created a google docs spreadsheet to show how an example of a fair payout system.

https://spreadsheets.google.com/ccc?key=0Ak9zHAtbfCFMdHJZbnlqc0tlLWxZWFpLWTVHWWNfZFE&hl=en

Please don't mess with the formula's in the cells, just change the YELLOW cells to see how it would change.

This is how I envision a fair payout to everyone who is helping on this.

Feedback is welcome.

Thanks.

[FairUser]

Got the message "Address <censored> will receive 0.631464 BTC if this block is solved".  

Does that mean the block has been solved by the group?
Does that mean we are now working on a new block?
Is this a fair amount to me?
What does that mean exactly? 
How is this number calculated?

[kiba]

Got the message "Address <censored> will receive 0.631464 BTC if this block is solved".  

Does that mean the block has been solved by the group?
Does that mean we are now working on a new block?
Is this a fair amount to me?
What does that mean exactly? 
How is this number calculated?

Read it again. You will receive X amount IF this block is solved.

I think the server calculate based on the value of your hashes. But doublec can switch it to actual hashes contributed.

[doublec]

Do you plan on publishing your production numbers and how it will have been distributed amonst participants ?

I'm quite skeptical about pool mining but maybe if you can show me it actually works I'll be convinced to join.

If this information was provided by the client and/or server I'd be happy to publish it. As far as I know, it isn't. When a block is generated hopefully people will post here confirming they received coins.

[BitLex]

is it a fair amount to you?

do the math yourself,
a block gets the pool 50btc, you get 0.63btc, that's ~1/80th of the block,
the pool currently does ~80 000khash/s, so if you do ~1000khash/s it seems pretty fair to me.

[FreeMoney]

Block found! Awaiting payment.....

haha, didn't realize how it worked, very cool.

http://blockexplorer.com/block/00000000000233334b157d901714baf59e5b9236227b2878844e52244da4195e

[dust]

Block found! Awaiting payment.....

haha, didn't realize how it worked, very cool.

http://blockexplorer.com/block/00000000000233334b157d901714baf59e5b9236227b2878844e52244da4195e

Nice! I just joined the pool 30 minutes ago. +2.62 btc 

[kiba]

Confirmed.

[FreeMoney]

Is rounding maybe a good idea? I don't know when I'll use that extra .00074567. Not important really, but those tiny fractions will be essentially valueless for a long time. I'm curious about the .00000044 payment also, was it just an unlucky miner who logged on just as the block was solved?

[Anonymous]

Received some coins.Awaiting confirmation. 

[theymos]

This is so awesome!

[kiba]

Wow. It actually say generated?

[theymos]

I'm curious about the .00000044 payment also, was it just an unlucky miner who logged on just as the block was solved?

That's rounding error going to the server.

Wow. It actually say generated?

Yeah! Puddinpop designed this wonderfully: the bitcoins are actually broken up in the block you are solving. Bitcoin sees it as if you generated the bitcoins yourself, and sub-0.01 fractions can be included without any problem.

[Anonymous]

Now the client is fluctuating in the Khash rate.  One block it will be 139 000 khash and the next will be 40 000 .

Something weird?

[BitLex]

yeah, that seems a bit strange,
most of the time we've been around 90-100clients at ~80 000khash/s,
then i noticed >150clients but the hashrate didnt change at all, still was ~80 000k.

now it jumps from 45-140 000khash/s combined and 400-1200khash/s locally.

however, i got 1.06btc from our first block waiting to mature.

[FreeMoney]

How do the generate transaction coins actually work? I mean generally, nothing about pooled mining. Are the coins actually no good yet? Or is the client set to stop them from being used for 120, but that could be circumvented?

What happens if you have pooled generate coins go to mtgox or mybitcoin? When would they be available? Would they be completely invisible for 120 blocks? Or immediately available?

[theymos]

How do the generate transaction coins actually work? I mean generally, nothing about pooled mining. Are the coins actually no good yet? Or is the client set to stop them from being used for 120, but that could be circumvented?

What happens if you have pooled generate coins go to mtgox or mybitcoin? When would they be available? Would they be completely invisible for 120 blocks? Or immediately available?

Generations can't be spent for 100 blocks. Transactions that try to spend them before that will be rejected by the network. The client has an additional 20-block safety margin.

This limit exists because generation transactions within a smaller chain become invalid when merged into a larger chain. If this limit didn't exist and the network was split for a few hours, hundreds of people could find their transactions invalidated if their transactions use any coins from recent generations.

It's impossible to view non-mature generations using stock bitcoind. They will be invisible to MtGox/MyBitcoin until they have matured.