[OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 #

[shep80]

I've switched to Eligius and have been stuck at 22 minutes left until payout since 3AM.  Is there a problem?  The page doesn't seem to be updating.

Very bad luck on solving the next block. Pool has been working on it for over 8 hours according to the stats.

Nothing seems wrong, just a usual bit of bad luck. Once we solve it things will get rolling again.

[spooderman]

dat unluck

[soy]

I've switched to Eligius and have been stuck at 22 minutes left until payout since 3AM.  Is there a problem?  The page doesn't seem to be updating.

Very bad luck on solving the next block. Pool has been working on it for over 8 hours according to the stats.

Nothing seems wrong, just a usual bit of bad luck. Once we solve it things will get rolling again.

Yes, I saw luck was down in the teens but went back to bed for an hour, got up, made breakfast, looked again and luck was up above 300%, now 154%.  My earnings have finally been moved to the payout queue and will be paid with the next block.

[ionstorm]

I got an idea for the graph dev's, it would be cool to see a projection of estimated earnings along side the hash rate graph

[Luke-Jr]

What's so good about namecoin? I like what I understand about it, but that's not saying much.

Whether it's good or not is another matter, but it's not just a scam.
Namecoin is applying Bitcoin concepts to a new area - it's not really a currency at all.

[soy]

I've switched to Eligius and have been stuck at 22 minutes left until payout since 3AM.  Is there a problem?  The page doesn't seem to be updating.

Very bad luck on solving the next block. Pool has been working on it for over 8 hours according to the stats.

Nothing seems wrong, just a usual bit of bad luck. Once we solve it things will get rolling again.

Yes, I saw luck was down in the teens but went back to bed for an hour, got up, made breakfast, looked again and luck was up above 300%, now 154%.  My earnings have finally been moved to the payout queue and will be paid with the next block.

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

[shep80]

Looks like stats may be hung up. We have solved a few blocks that may not be reported on stats.

[xyzzy099]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

[Luke-Jr]

Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.

I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

[soy]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

Thank you for explaining the difference.

Then if I take the hash generated by the signature, paste it in and decode it I should see the message?  And if so then it's something else I'm not doing correctly.  For instance, I put a minimum diff of 121 for the Mercury on the address.  Then later that day I added two more miners who's diff might more correctly be 7 and 2 but didn't change the requested min diff of 121.  Would that prevent all config changes from being accepted?

[soy]

Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.

I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

Thanks.  It was the FINCEN guidance I was referring to but then I take it that never became legally binding for US citizens?

[xyzzy099]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

Thank you for explaining the difference.

Then if I take the hash generated by the signature, paste it in and decode it I should see the message?  And if so then it's something else I'm not doing correctly.  For instance, I put a minimum diff of 121 for the Mercury on the address.  Then later that day I added two more miners who's diff might more correctly be 7 and 2 but didn't change the requested min diff of 121.  Would that prevent all config changes from being accepted?

The diff setting does not actually work, but the payout amount setting does.  A lot of people seem to have trouble getting the signed message to be accepted...  I don't know what causes that problem.

[soy]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

Again I misunderstand verifying messages.  When verifying, it doesn't decode and present the message, one needs to put coding address, the exact message, and the signature then if it is accurate it will say Message verified.  Which it just did.

[soy]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

Again I misunderstand verifying messages.  When verifying, it doesn't decode and present the message, one needs to put coding address, the exact message, and the signature then if it is accurate it will say Message verified.  Which it just did.

Yes, submitting a signed message of only the minimum payout happened immediately after submission.  Thanks.  (Too bad there isn't a fix for these super long blocks.)

[Luke-Jr]

Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.

I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

Thanks.  It was the FINCEN guidance I was referring to but then I take it that never became legally binding for US citizens?

As far as I know, it's been legally binding since even before the guidance was written (ie, they were just explaining the law's application).
IANAL, but miners don't create bitcoins, so it doesn't apply to us at all.

[soy]

Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.

I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

Thanks.  It was the FINCEN guidance I was referring to but then I take it that never became legally binding for US citizens?

As far as I know, it's been legally binding since even before the guidance was written (ie, they were just explaining the law's application).
IANAL, but miners don't create bitcoins, so it doesn't apply to us at all.

I think I have it.  We work to solve to some degree a mathematical puzzle.  When the puzzle is solved to the current requirement there is a reward of 25 Bitcoins.  Those Bitcoins were not 'created' in the solving of the mathematical puzzle to the required degree, those Bitcoins were created at the very inception of the Bitcoin concept, in a strictly limited quantity which will be apportioned out over time.  Miners do not create Bitcoins.  The FINCEN regulation is technically and legally wrong.

[Luke-Jr]

Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.

I don't know that any nation has a rule like that... the closest I'm aware of would be FINCEN's guidance that created virtual currency has such regulatory properties - but miners just discover coins predetermined by the protocol, they don't create them. In any case, I doubt any legal institution cares about technicalities.

Thanks.  It was the FINCEN guidance I was referring to but then I take it that never became legally binding for US citizens?

As far as I know, it's been legally binding since even before the guidance was written (ie, they were just explaining the law's application).
IANAL, but miners don't create bitcoins, so it doesn't apply to us at all.

I think I have it.  We work to solve to some degree a mathematical puzzle.  When the puzzle is solved to the current requirement there is a reward of 25 Bitcoins.  Those Bitcoins were not 'created' in the solving of the mathematical puzzle to the required degree, those Bitcoins were created at the very inception of the Bitcoin concept, in a strictly limited quantity which will be apportioned out over time.  Miners do not create Bitcoins.  The FINCEN regulation is technically and legally wrong.

FINCEN never said they were talking about miners, AFAIK. They were just talking about virtual currencies in general.
Linden is the administrator of Second Life virtual currency - that rule applies to them since they do just create it.
It doesn't have an equivalent in Bitcoin.

[soy]

TY

[wizkid057]

The payout went smoothly with the new block.  I notice it seems less 'spendable', having 26 confirmations already but needing 94 more blocks, than BTC earned elsewhere.  Also the clear demarcation of 'Mined'.  I wonder if this will prove a problem with that obscure rule that mined bitcoins make one an international money transfer agent if one tries to use it for anything but barter.  Bitcoins mined on another pool have not that demarcation.

But the question I wish to ask, is the minimum payout stat changeable on the configuration page?  I have Bitcoin-QT on another machine than the one having the cookie storing the receive address.  I generated the signed message which included in the encrypted string a lowering of the minimum payout trigger to 0.1000btc but it didn't take.  After the initial payout since the signed message configuration change I expected the payout to be lowered but it was not.  Is the minimum not changeable below what is dictated by the value equation used by Eligius staff?

A standard bitcoin transaction is spendable after only one confirmation, and fully confirmed after 6 confirmations.  When a new block is mined, the coinbase transaction that gives the 25 BTC + transaction fees requires 120 confirmations before it is spendable.

Most pools send the output of the coinbase transaction to a pool-owned address, then pay you in a separate normal transaction.  It will appear in your wallet as 'unconfirmed' until one more block is mined (the confirmation).  Eligius (and also P2pool) pay miners directly from the coinbase transaction.  That's why the transaction shows up a a 'mined' transaction which shows up as 'immature', and takes 120 confirmations to mature.

You can set you minimum payout to anything >= 0.01 BTC.  If it didn't work, it probably means that the signature failed.  It should tell you whether if it passed or failed a few lines up toward the top of the page.

Again I misunderstand verifying messages.  When verifying, it doesn't decode and present the message, one needs to put coding address, the exact message, and the signature then if it is accurate it will say Message verified.  Which it just did.

If your minimum payout didn't change, I would try submitting a new set of settings with a new signed message and ensure that it gives you the message at the top afterwards telling you that the signatures passed.

As for the 120 confirmations required for mined coins, I'll note that other pools pay the coins to their own wallet first, wait the 120 confirmations, *then* send you the coins at some point after this making you wait for more confirmations.  Eligius's method is superior, in my opinion, as you can a) spend the coins immediately upon full confirmation, and b) the pool doesn't "touch" your coins and you don't risk losing them to any pool-side issue in the mean time.  For example, if Eligius is hacked, there are no miner coins available to be stolen, since the coins are already paid directly from the blocks to the miners.

-wk

Edit: I just noticed the later post where you had already gotten the settings to work.

[RoadTrain]

I've been thinking a bit on how to smoothen variance here.
One idea.

As pools' buffer is very unlikely to turn positive in the foreseeable future, intruduce the second buffer, which will be built from tx fees exclusively. Every lucky round it's increasing and can only be spent when the round is unlucky.
This way current miners will have some sort of buffer against future unluck, while currently during lucky rounds all credit goes to old miners.
Currently fees don't constitute much, but still can smoothen medium-term earnings.