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Author Topic: New Pool with high Pay outs  (Read 3031 times)
btcpool24
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June 26, 2011, 02:21:05 PM
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 Visit : http://www.btcpool24.com
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djex
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June 26, 2011, 05:01:42 PM
 #2

Why does everything about this seem dodgy?

Smiley  : 1LbvSEJwtQZKLSQQVYxQJes8YneQk2yhE3
zoro
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June 26, 2011, 06:48:59 PM
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nice idea. but you mean that the 1st miner will get only 13btc even if his/her shares indicate more?

"killer app" of BTC = MasterCoin https://bitcointalk.org/index.php?topic=265488.0Mastercoin(A new protocol layer on top of Bitcoin)
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June 26, 2011, 07:21:06 PM
 #4

doesn't look very professional...passing on this one for now but will keep an eye on this thread.
JBDive
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June 26, 2011, 07:25:27 PM
 #5

In other words if your not doing 1G/h or more your share will be crap.
muyoso
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June 26, 2011, 07:54:51 PM
 #6


Why would more than 4-5 people ever mine on a system like that?  If you are not in the top 3 you are getting screwed compared to what you could be making at a different pool.

I drink it up!
hamdi
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June 26, 2011, 07:58:11 PM
 #7

whatever i give him a try

btcpool24
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June 27, 2011, 06:28:06 PM
 #8

whatever i give him a try
Thank you !
btcpool24
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June 27, 2011, 06:29:55 PM
 #9

doesn't look very professional...passing on this one for now but will keep an eye on this thread.

I know i will still have to do a lot of work on the site. But the important thing does work. The Layout etc. will be much better in the next few days.
btcpool24
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June 27, 2011, 06:34:41 PM
 #10

nice idea. but you mean that the 1st miner will get only 13btc even if his/her shares indicate more?

No he will get 13BTC extra . Look at http://www.btcpool24.com/stats.php
JBDive
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June 27, 2011, 08:20:13 PM
 #11

13BTC to some super rig that comes in near the end of a round and pushes everyone who has been there from the beginning off the winners list not to mention by taking 23 to pay the winners those not in the top three will earn less than they would using another pool.
jdebunt
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June 28, 2011, 09:40:00 AM
 #12

i'll let my machine run a whole afternoon on your site to give it a go anyway Smiley looks like you're in need of some miners so we'll see....

won't make the top 3 tho but it'll be a competitive number 4 spot Wink
JBDive
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June 28, 2011, 10:12:59 AM
 #13

Bad uptime as well, growing pains and not a direct complaint.

My only complaint still stands that this benefits only the top 3, all others would do better elsewhere and even out of the top three there is nothing stopping somebody that can push G/h's from coming in late and pushing everyone out of the winners circle. There are some guys doing 20-40 G/h themselves, they could come in and establish a base score then leave only to come back off and on in order to stay in the top three. Seems that is already the case with some miners dropping off then as another miner gets close to their total hash count they start mining again but at a lower rate, just enough to stay in the top 3 (ignoring the leader assuming he is the pool owner).
btcpool24
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June 28, 2011, 11:23:29 AM
 #14

Update : 06/28/2011

Since missing positive feedbacks on the payout system, i will change the pool to proportional payout .
But only 48BTC.
1.95BTC are for the miner who finds the block.
 The last 0.05BTC are the fee for the pool.


Last but not least:

For all miners, allready mining here, i will keep the old payout for the first block.
 If one ore more from the active miners are at Top 3 i will payout the 27BTC from my own wallet.

I think this is a fair offer to you.
jdebunt
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June 28, 2011, 12:22:55 PM
 #15

let's get that first block then, shall we Smiley
JBDive
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June 28, 2011, 02:49:23 PM
 #16

Your "reward" system just needs tweaked some if your wanting to go down that road. Do a 3, 2, 1 which still leaves the bulk to be divided proportionally or something along those lines. Difficulty is to high and BTC to valuable to give away over half the pot to 3 miners.

I've got nothing against different pool types, gives people options and if they don't like it there is always another pool. Just felt your setup was giving away the farm on the backs of your long term miners.

[edit]
I just wanted to give you an example of why I think the pool payout is flawed and I know I have gone over this already and you plan to adjust it.

Anyway if you look right now at the leader board "mcmeidi" is in the lead by far with 38465 shares and 32.580776 BTC. Teuflor with 5155 shares and 4.364945 BTC has come and gone a few times. As mcmeidi is that far ahead he has no reason to stick around and continue mining and in fact appears to have moved on. All he needs to do is check in daily or so and see where he stands and if anyone is getting close he can crank up his 1G/h rig and get that buffer again. In the meantime he is elsewhere earning BTC for another pool and not helping your pool at all. The race for second and third is a bit tighter however those miners have also come and gone with "Teuflor" seeming to show up just often enough to maintain that second spot. What's worse is the same person using multiple accounts could lock up First, Second and Third doing the same thing but instead of leaving they just switch accounts.

Just my opinion... your hardware and sweat so I need to shutup Wink
Jack of Diamonds
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June 28, 2011, 03:56:31 PM
 #17

I have thought about pumping about 8ghash/s in your pool after CDF gets about 40-50%,

but there is a relatively high risk you will just steal the entire 50BTC reward to yourself after your own miner's proportion (mcmeidi) gets lower & lower (and you probably know that people would just leave after the first block rewards anyways)

The 50 BTC will probably be much more than your pool will earn in operating profits in it's entire lifetime after that.
I don't see anyone sticking around after the first block is found.

This gives the small pool owner a very high incentive to steal the entire block proceeds & disappear.
You also have no reputation to lose, joined the forum 48 hours ago & the site seems like an overnight fly-by operation so it's a win-win for you.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
btcpool24
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June 28, 2011, 04:38:57 PM
 #18

@ Jack

Hi 8GH/s would be fine Wink

Of course i could take the 50BTC and shut the server down. But the other pools could do this also.
I don´t want to eearn much money with the pool. I just do this for fun only. I ony want to be a part of the BTC group. Maybe later i will go online with other site relating to Bitcoins. (Trading,Shop etc.) . And with this sites i want to earn money.
Im not shure, but i also dont trust other pools 100%. So that was the reason for me to start minning with about 1.5GH/s. And creating this pool, was the 2nd step to do something with BTC.

And yes the site was created during the weekend. But i will work on it hard the next weeks.
So i will keep the pool running longer as for 1 block.

Greetings from Germany
Jack of Diamonds
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June 28, 2011, 09:18:49 PM
 #19

My point is that pools like Slush and Deepbit have no incentive to steal the block reward.
They will earn a good amount of cash in the long run with their fees (2-3%). They generate many blocks every hour.

Since on this pool it might be weeks or months before anything is found & most people will only be mining for the extra rewards, there is a lucrative opportunity for the owner to just run with the single block after discovering people quit mining when the block is found.

Because it's highly likely it will be the only block the pool will ever find.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
JBDive
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June 30, 2011, 09:18:20 PM
 #20

Well seems I am being proved correct. Here come the mega rigs and all the people mining from the first days are about to have their spots taken and pushed down the BTC ladder, including who I assume is the pool owner. 6990er came in first of the week and has been on the pool off and on yet is a day away from kicking out mcmeidi (pool owner) from the top spot and in turn will allow Jack and Paul to likely kick Dilithium out of #3 even though that user has been active pretty much non-stop.



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