[Groupbuy] Jupiter KNCMiner (0.5 BTC shares) 12 sold! [CLOSED] !!!

[justanickname]

The pool is not 100% sure yet. Eligius stands a good chance but we probably want more than one pool to spread the risk. Also we want to look at pools where we can merge mine but most of them come with fees. Any suggestions on that part are welcome by the way

Cheers,

Maybe I am missing something here, but isn't it much safer to mine in BTCguild or another big pool, rather than a small pool like Eligius?
Are the fee differences big enough to take such a risk?

 

[1715212002]

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[1715212002]

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[1715212002]

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[tyrion70]

Maybe I am missing something here, but isn't it much safer to mine in BTCguild or another big pool, rather than a small pool like Eligius?
Are the fee differences big enough to take such a risk?

Hey,

Actually, Eligius is the 3rd largest pool available at the moment.
https://en.bitcoin.it/wiki/Comparison_of_mining_pools

BTCGuild has 70TH but takes 5% fee, 50BTC takes 3% with 60TH.

We might spread them over multiple pools but we feel 3% fee is a lot.

Regarding risk, we'll do everything to prevent the miners from running idle offcourse. cgminer allows multiple pools to be configured so that should help, also we'll be remotely monitoring the servers 24x7 with sms monitoring if all goes well.

We might also run our own pool as a backup or main.

Luckily we don't have to decide everything now. We can tune the miners once we're hashing and with our hash power is easier to tune and see what changes work well.

Cheers,

[justanickname]

Maybe I am missing something here, but isn't it much safer to mine in BTCguild or another big pool, rather than a small pool like Eligius?
Are the fee differences big enough to take such a risk?

Hey,

Actually, Eligius is the 3rd largest pool available at the moment.
https://en.bitcoin.it/wiki/Comparison_of_mining_pools

Hey, thx and sorry for bugging but
if you follow the actuall % of blocks found by Eligius it
is less than 5%, more like 2-3%....
It seems that there are bigger pools, according to
http://blockchain.info/pools

[tyrion70]

you're not bugging

blockchain.info is mighty inaccurate at that point it seems..

According to
http://blockchain.info/pools?timespan=4days

Eligius found 5 blocks in 4 days.. While they themselves report 31 blocks:
http://eligius.st/~gateway/stats/recent-blocks

That would put them at the same spot as 50btc.

Both 50btc and btcguild don't show the blocks they've found so I'm unable to verify the blockchain.info results on that.

Deepbit, the second pool according to blockchain only has 1.5TH according to their own site..

I'll try to do some more research, but it appears that the blockchain numbers are way of

[philipma1957]

you're not bugging

blockchain.info is mighty inaccurate at that point it seems..

According to
http://blockchain.info/pools?timespan=4days

Eligius found 5 blocks in 4 days.. While they themselves report 31 blocks:
http://eligius.st/~gateway/stats/recent-blocks

That would put them at the same spot as 50btc.

Both 50btc and btcguild don't show the blocks they've found so I'm unable to verify the blockchain.info results on that.

Deepbit, the second pool according to blockchain only has 1.5TH according to their own site..

I'll try to do some more research, but it appears that the blockchain numbers are way of

 www.bitminter.com   is  a decent pool they pay nmc the fees are low.   I have studied pools quite a bit  I would suggest  2 pools half the hash in each pool.  then use 2 different pools to back up the 2 main pools.

My reasoning is there is a flaw with pools  and a large solo miner or a large miner in a pool  can aid his/her  cause with a well placed ddos attack.  

 pool a 30%

  pool b 25%    

 the villain 1%

the rest of the hash 44 %     .


diff is at  62 mill  scheduled to go to 80 mill   100 blocks left.     the villain ddos pool a and pool b      the last 100 blocks  are sucked up by the villain and the other 44% of the hashers.  

 If you notice every time we get near the end of the blocks hash rate drops.

 the best way to combat this is 2 primary pools with 2 different backup pools   so if the villain takes out 2 pools we still have some hash power running. it is hard to ddos 4 pools.  so to me if we half to bitminter backup with btc guild and half with eligus  backed up by 50btc.  we should be okay.  

 rather then all to eligus backed up by  50btc.

 first setup we have half our hash working in a massive ddos attack. second setup if the ddos attecked both our primary and our backup we are dead 0 hash.

I Have seen this happen  close to every diff adjustment.

[justanickname]

you're not bugging

blockchain.info is mighty inaccurate at that point it seems..

According to
http://blockchain.info/pools?timespan=4days

Eligius found 5 blocks in 4 days.. While they themselves report 31 blocks:
http://eligius.st/~gateway/stats/recent-blocks

That would put them at the same spot as 50btc.

Both 50btc and btcguild don't show the blocks they've found so I'm unable to verify the blockchain.info results on that.

Deepbit, the second pool according to blockchain only has 1.5TH according to their own site..

I'll try to do some more research, but it appears that the blockchain numbers are way of

I am not sure what's going on with the list here: http://blockchain.info/pools?timespan=4days,

but the following list is identical to Eligus own list: http://blockchain.info/blocks/Eligius

Also if you estimate 160 blocks  a day, 31 blocks in 5 days means that Eligus is 4% more or less of the total netwrok (31/(160*5)*100=3.875%)

This % also fits to the pie diagram:  http://blockchain.info/pools?timespan=4days.

So maybe blockchain does have accurate numbers?





 

[2weiX]

We might also run our own pool as a backup or main.

set up your own p2pool, please?
if one thing is amiss, it's one professionally run p2pool for stratum miners.

[tyrion70]

Hmm, yesterday I saw other numbers at blockchain.info.. weird.. Anyways, 4% of the network hashrate is a pretty decent amount I guess.

All in all, the most important thing for us is continuity followed by lowest pool fees. Seeing above comments, I think it might be a good idea to run multiple pools straight from the start so we have something to compare. From there we can figure out the best way to work. Luckily the miners should run with cgminer so that gives us a nice option for statistics and comparisons.

Also one thing to consider is the payout speed. 50btc pays out once a week I think, not sure how other pools do that. I'll look into it later today and post how we'll start.

set up your own p2pool, please?
if one thing is amiss, it's one professionally run p2pool for stratum miners.

Are u in favour of a (private) p2pool or against?

Cheers,

[philipma1957]

Hmm, yesterday I saw other numbers at blockchain.info.. weird.. Anyways, 4% of the network hashrate is a pretty decent amount I guess.

All in all, the most important thing for us is continuity followed by lowest pool fees. Seeing above comments, I think it might be a good idea to run multiple pools straight from the start so we have something to compare. From there we can figure out the best way to work. Luckily the miners should run with cgminer so that gives us a nice option for statistics and comparisons.

Also one thing to consider is the payout speed. 50btc pays out once a week I think, not sure how other pools do that. I'll look into it later today and post how we'll start.

set up your own p2pool, please?
if one thing is amiss, it's one professionally run p2pool for stratum miners.

Are u in favour of a (private) p2pool or against?

Cheers,

I would like bitminter and eligus   50- 50  with 2 different backups.  Run for a week check totals.   Run for a second week check totals.  

 I like the idea of bitminter since I hash 100% with them for about 13 months. I like the Idea of Eligus since it works with canaryinthemine a seller of about 20,000 Asic Miner sticks.  https://bitcointalk.org/index.php?topic=277332.0 his latest sale.  

both bitminter and canary have shown a good track record for honest dealings and in the world of btc that is not common as it should be. I also like the idea of helping second tier pools.

If  the top 10  pools had 6-8% each.  For a total of 60 to 80 %  and The other 20-40% with smaller holders ; DDOS attacks and the like would lessen since you would need to attack 6 or 7 pools to help your wallet it  would be hard to do.


  I have an interest in both bitminter and eligus.  I mine in bitminter and I buy asic sticks from canaryinthemine. (he suppies sticks to eligus)

here is the canary's trust page

https://bitcointalk.org/index.php?action=trust;u=18614


this is bitminter's page my name shows up on it a lot. I used to be in the top 50 mining list but since I only have 40gh in hash power I am about 90 on the bitminter list of miners.

https://bitcointalk.org/index.php?topic=27062.0



https://bitminter.com/block/btc/000000000000000b71cb722710cd4a07bedcc9f2be06ed6fa4f7756c1b79a436

Block on blockexplorer: 0000000000...

Coin generation on blockexplorer: 302ddf2621...

Total income (minting + fees): 25.19971000 BTC

Amount paid out to users: 24.94771290 BTC

Payouts
User   Share   Pay
melchior   0.26%   0.06467135 BTC
farfie   0.25%   0.06331316 BTC
crazyblane   0.23%   0.05806976 BTC
bandaloop   0.23%   0.05649325 BTC
greenminer01   0.22%   0.05547413 BTC
aliaseponymous   0.22%   0.05463823 BTC
daryl001   0.22%   0.05430701 BTC
Grayheart   0.22%   0.05376740 BTC
wiseriddim   0.21%   0.05359025 BTC
philipma1957   0.21%   0.05310752 BTC <<<<<__________>>>>>>>>>   me
ThatFatGuyAndCo   0.21%   0.05146419 BTC
0000   0.20%   0.05040883 BTC
Arnold2222   0.20%   0.04884529 BTC
fpgabtc   0.19%   0.04837382 BTC
Terraformer   0.19%   0.04775926 BTC
tormentor   0.19%   0.04769718 BTC
Miner99er   0.19%   0.04729792 BTC
nlpro007   0.19%   0.04670561 BTC
defkin   0.19%   0.04635555 BTC
pvillegeek   0.18%   0.04475065 BTC

[maqifrnswa]

set up your own p2pool, please?
if one thing is amiss, it's one professionally run p2pool for stratum miners.

Are u in favour of a (private) p2pool or against?

Cheers,

I'm for, for what it's worth.

0% fee (but you should give some donation to forrestv), you keep all transaction fees, ddos free, merge mine nmc devcoin ixc. Put it behind a firewall with failover to another pool in case of catastrophic hardware error.

OgNasty has been doing it with his mining operation for about (over?) a year, and there are two others with > 300 GH besides him currently mining. Total of 7 TH/s on the pool, so it has 3x more variance than BTCGuild (70 TH/s) but p2pool will average higher payouts over time.

[2weiX]

set up your own p2pool, please?
if one thing is amiss, it's one professionally run p2pool for stratum miners.

Are u in favour of a (private) p2pool or against?

Cheers,

I'm for, for what it's worth.

0% fee (but you should give some donation to forrestv), you keep all transaction fees, ddos free, merge mine nmc devcoin ixc. Put it behind a firewall with failover to another pool in case of catastrophic hardware error.

OgNasty has been doing it with his mining operation for about (over?) a year, and there are two others with > 300 GH besides him currently mining. Total of 7 TH/s on the pool, so it has 3x more variance than BTCGuild (70 TH/s) but p2pool will average higher payouts over time.

I'm for p2pool, period.
I'd love to have one low-latency and professionally managed p2pool for the public, since most of them are pretty useless.
If you put it at 0.5% donation, distribute the fees and keep the mergemined coins, that'd be even better.

[maqifrnswa]

I'm for p2pool, period.
I'd love to have one low-latency and professionally managed p2pool for the public, since most of them are pretty useless.
If you put it at 0.5% donation, distribute the fees and keep the mergemined coins, that'd be even better.

I agree re: low-latency and professionally managed p2pool for the public, but I think that the group buy's p2pool server should be private/behind a firewall since it will be a nice DDoS target.

NastyFans has a private p2pool for their mining and a public one for people to mine at nastyfans.org:9332

[tyrion70]

Allright guys,

First of some more KnC news:
https://www.kncminer.com/news/news-31

Power consumption will be 1.6W/GH! So that's incredibly good news.. KnC is still underpromising it seems

We will be ordering the PSU's ASAP so we're sure we have them already.


With regards to the pools we'll be doing the following:
20% Private P2Pool
20% Eligius
20% BTCGuild
20% Bitminter
20% Undetermined yet, we'll decide that closer to the delivery date. If we can't find a good candidate we'll make it 4x25%

We won't use 50btc because they only offer PPS and only payout once a week. In our case that's a significant amount of btc which we are not willing to risk keeping on a pool.

All cgminers will be configured to use all 4 pools (1 main and 3 failover pools) just in case. We'll run this configuration untill we have enough statistics to go on. If the difference between the pools (including fees) is small we might just keep that configuration.

Cheers,

[kuriboh]

That's good news indeed.

One question, when you buy the PSU's, can you clarify how much will be the cost per share please? just to add this to my estimates

Thanks and keep it up!

[tyrion70]

That's good news indeed.

One question, when you buy the PSU's, can you clarify how much will be the cost per share please? just to add this to my estimates

Thanks and keep it up!

Sure, the one we're looking at now is 109 Euro for 1000W, at current btc price that rougly translates to 1.2btc which would be 0.00009767 btc per addiction share, round it up to 0.0001 to be on the safe side.

Cheers

[LiteBit]

They'll be comin' around the mountain when they come...
Getting close boys...

[CoinFarmer]

20% Private P2Pool
20% Eligius
20% BTCGuild
20% Bitminter
20% Undetermined yet, we'll decide that closer to the delivery date. If we can't find a good candidate we'll make it 4x25%

On blockchain we could find the info:

http://blockchain.info/pools

From statistical approach I would like to share with my opinion:

1) Pareto prinicple solution split:

Wiki: http://en.wikipedia.org/wiki/Pareto_principle

20% of pools takes over 80% of whole BTC distribution and taking under consideration the splitting KNC computing power between pools with the same hashrate to have share in 80% of generated bitcoins:

- BTC Guild
- 50 BTC
- Deepbit
- Eclipse MC
- ASIC Miner
- BitMinter
- Slush

Then we'll have 80% probablity to get share in every block.

2) Normal distribution and standard deviation rule

Wiki: http://en.wikipedia.org/wiki/Normal_distribution
http://en.wikipedia.org/wiki/Six_Sigma

We should have not fixed hashing power, but it should be calculated daily regarding Moving Average and Standard deviation etc

We should have a share only in pools which are covered in 0.5 STD Deviation from average distribution to maximize incoming bitcoicoins, taking under consideration probabilty and BTC Value

https://docs.google.com/file/d/0B8x7IPjfIwAbUmpkRERSaTE0Z1U/edit?usp=sharing

So to maximize incoming bitcoins we should have share on those 3 pools

- Deepbit
- EclipseMC
- ASIC Miner

=====

This is very academic approach and could be little bit different from the real, but it's very good base to start reasearches to maximize incoiming coins.

[tyrion70]

Hey,

Thanks for your input. You seem to be proposing two different options is that correct? We'll try to use this analysis in our decision on where to mine, eclipse and Deepbit are good candidates to, we'll look into those as well.

Thx,

[btceic]

tyrion70 and blastbob,
Would you consider opening up a group buy for folks that got dupped by the Avalon debacle?

[tyrion70]

Hey btceic,

What exactly do you mean? A new KnC groupbuy for people who get their Avalon refunds?

Cheers