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Author Topic: New Pool with high Pay outs  (Read 3034 times)
gentakin
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June 30, 2011, 09:25:26 PM
 #21

They have switched to proportional payout (+bonus for block finder), so it doesn't really matter any more.

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Jack of Diamonds
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July 01, 2011, 12:00:08 AM
 #22

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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You are discounting something:

At this difficulty it could be easily 2-3 million shares before any block is found by BTCpool24, without phenomenal luck.
There wont be even a million anytime soon, so if someone is looking for a quick cashout that's just a fool's gamble.

I'm just testing the waters with a few ghash, seeing how many stales/invalids, downtime, stability
Not going to mine 24/7 or move any deepbit/slush rigs there.

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JBDive
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July 01, 2011, 12:40:52 AM
 #23

They have switched to proportional payout (+bonus for block finder), so it doesn't really matter any more.

After first round so this round is as was.
JBDive
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July 01, 2011, 12:43:43 AM
 #24

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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You are discounting something:

At this difficulty it could be easily 2-3 million shares before any block is found by BTCpool24, without phenomenal luck.
There wont be even a million anytime soon, so if someone is looking for a quick cashout that's just a fool's gamble.

I'm just testing the waters with a few ghash, seeing how many stales/invalids, downtime, stability
Not going to mine 24/7 or move any deepbit/slush rigs there.

Just testing huh by pushing 4x the next highest miner Wink

Downtime has been pretty high, to be expected on new pool. I agree though at current rates and current total hash rate this pool will be forever. Heck pool I usually get paid out pretty quickly is now on day 3 and miners are dropping off like flies meaning it will just take even longer.
Jack of Diamonds
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July 01, 2011, 07:55:34 AM
 #25

The hash rate is relatively stable over 10gh now.
A block could be found in a week if a few more users committed small farms.

There is some incentive even for casuals: 1.95BTC finders fee.

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btcpool24
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July 02, 2011, 10:18:42 AM
 #26

Hello guys,

sorry about the late answer. But: My son was born tonight:  Grin

Stales should be ok now. (blkmond stopped working)

The payout is now proportional now. + 1,95BTC extra for the finder.
All minners that was minning before the change of the payout (read Update news at the home site) will get the old extra bonus 13,9,5 BTC.

i will think about to set the fee to 0% and pay the first 1.95BTC Bonus from my own wallet.
Do you think this will help to get more minners ( also the smaller ones ?`)




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July 02, 2011, 02:37:15 PM
 #27

Hello guys,

sorry about the late answer. But: My son was born tonight:  Grin

Stales should be ok now. (blkmond stopped working)

The payout is now proportional now. + 1,95BTC extra for the finder.
All minners that was minning before the change of the payout (read Update news at the home site) will get the old extra bonus 13,9,5 BTC.

i will think about to set the fee to 0% and pay the first 1.95BTC Bonus from my own wallet.
Do you think this will help to get more minners ( also the smaller ones ?`)


No I don't think your going to get your hash rate up any time soon. You will see burst but because of that initial call to payout so high on the 1, 2, 3 place winners what your seeing is exactly what I said would happen. Miners, especially the big ones are coming in and running their share count up and into those first, second and third spots then leaving. There is no incentive for them to stay when they can pool hop and come back if they get knocked out of the paying spots.



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Note the few active miners out of the ones in the top positions. They come, they push their share count up, they leave. Now at this point anyone pushing less than 400Gh is better served in other pools with massive hash rates (300+) as they can earn a little a day vs. mining here and hoping it's not going to take you weeks, if not months. Look at bitp.it pool that is going on 6 days now and how much their hash rate has dropped, it's to the point that unless they get lucky they will take weeks on this block round, miners are not willing to stick around for that with the value of BTC in such a questionable state.

Congrats, and you thought you use to not get any sleep...
MZZM
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July 02, 2011, 02:41:54 PM
 #28

So top miner is who got highest hash-rate, or higher amount of shares?
MZZM
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July 02, 2011, 02:45:55 PM
 #29

Also problem with phoenix miner, miner is idle and it goes to restart, and it happens very often.
btcpool24
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July 02, 2011, 05:08:37 PM
 #30

Thank you for your congratulations.  Grin

I know it will be hard to start a new pool. Maybe all the work was for nothing, but i will keep on working on it.

So I decided to payout the full 50BTC + 1.95 BTC extra Bonus for the finder.

For all minners from the beginning will get a extra Bunus. 13,9,5 as i wrote the first two days.

Hope this will help to get more minners to the pool.

MZZM
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July 02, 2011, 05:19:49 PM
 #31

Dude, I`m totally don`t understand you.

So finder will get 50btc, and other miners nothing?

What is bonus 13, 9, 5? tops? Top of what, hash-rate, shares?

btcpool24
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July 02, 2011, 09:31:13 PM
 #32

hi @ MZZM:

50BTC will be sahred to all minners.
1.95 BTC will be paid to the finder. (from my own wallet)
13,9,5 Bonus will be paid to the top shares but only to miners submitted at least 1 share before 28,6,2011 Update
Jack of Diamonds
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July 03, 2011, 05:33:57 AM
 #33

Nobody from 28.6 or before has enough hashrate to be in top 3 except 6990er.
Almost all of the current rate comes from new miners.

So there is in fact only 1 bonus possible in the entire pool. 0 if masterminer gains enough shares because then nobody in the top 3 are eligible.

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JBDive
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July 03, 2011, 02:24:05 PM
 #34

Nobody from 28.6 or before has enough hashrate to be in top 3 except 6990er.
Almost all of the current rate comes from new miners.

So there is in fact only 1 bonus possible in the entire pool. 0 if masterminer gains enough shares because then nobody in the top 3 are eligible.

The current hash rate or rather I should say last nights hash rate was dominated by new miners throwing huge rigs at the pool with one thing in mind, getting into the top three and padding that lead a bit, then leaving. I know I sound like a broken record but this is exactly what I said would happen long before it actually happened. Now those miners just have to keep an eye on the pool and if they see their lead falling just crank up the GH again to pull away. In the meantime they are elsewhere earning a daily payout for some other pool. Much as you yourself did it seems Wink

Not harking on this so much for the pool owner but for anyone else who thinks this type of a pool is a good idea hopefully they may find this thread and see the shortcomings of the design, it promotes pool hopping and drives away smaller miners. Given the current difficulty and fuzzy future of BTC pricing I don't see mining for any pool doing less than 300G/h much of an option anymore.
JBDive
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July 03, 2011, 02:36:17 PM
 #35

oh and is anyone else having a ton of connection problems with the pool over the past 24?
Jack of Diamonds
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July 03, 2011, 02:41:54 PM
 #36

My point is that it doesn't even pay off to pad the stats now.

If you joined after 28.6 there is no top 3 bonus for you. Those guys pumping 3-10 ghash will get no extra reward because they joined 2 days ago.
 
There is only 1 miner in the entire pool capable of being in top 3 who joined before that arbitrary date.

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