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Author Topic: [OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 #  (Read 418339 times)
twmz
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October 19, 2011, 01:52:28 AM
 #501

ok I guess I did not understand how he pays out.  I understood he pays SMPPS, but I assumed he had a wallet full of coins to cover for when the luck is bad, like many other pools that offer pay per share type payouts. So basically the pool is broke and we have to wait until it makes some money to pay us off.

that kinda sucks.

what happens to the 50 btc that are awarded when the pool solves a block in like 30 mins and we are all stick with .05 ?

The pool is not broke.  it does have a huge stash of BTC in a wallet.  But the automatic payment systems don't use that stash.  They only pay out with generation transactions which are limited to 50 BTC per block.  When the queue gets painfully long (3-4+ days in the past), Luke does a manual payment using the pool's wallet to clean up the backlog.  Normally that doesn't happen.  Normally we are lucky relatively quickly after we are unlucky and the queue fixes itself automatically (because when we are lucky, a round awards less than 50 BTC but can still pay out the full 50 BTC so it "catches up" the queue a little bit).

Edit: You can see how much BTC is in the pool's wallet by looking at the Pool Buffer column of this page: http://eligius.st/~artefact2/blocks/

Was I helpful?  1TwmzX1wBxNF2qtAJRhdKmi2WyLZ5VHRs
WoT, GPG

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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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October 19, 2011, 01:58:36 AM
 #502

Luke-JR is a smart man, if you were to calculate a ratio of pool owner profitability against pool speed his pool is probably the most profitable one out there without charging any kind of up front fee. Genius.
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October 19, 2011, 02:01:09 AM
 #503

Luke-JR is a smart man, if you were to calculate a ratio of pool owner profitability against pool speed his pool is probably the most profitable one out there without charging any kind of up front fee. Genius.

I suppose if he shut down today, he's be a rich man.  Well, not rich given the current exchange rates, but you know what I mean.

But until he shuts down, that buffer is available to come back to us miners if we become unlucky in the future.

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October 19, 2011, 03:02:33 AM
 #504

Due to the law of large numbers, the buffer will get closer and closer to 0 over time. Sad

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October 19, 2011, 10:45:58 AM
 #505

Interesting...
 
Well thank you for taking the time to explain everything to me, now I understand what the "Luke-Jr Method is" I really dont mind waiting, I have mined extensively at every other pool out there, and this one is my preference. One more thing I am curious about where does the name come from?

p.s. have a great vacation Luke-Jr - see ya when you get back Smiley
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October 19, 2011, 12:20:02 PM
 #506

One more thing I am curious about where does the name come from?

Saint Eligius is the patron saint of goldsmiths, other metalworkers, and coin collectors.

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October 19, 2011, 01:23:25 PM
 #507

Cool, I knew Luke-jr, was a Christian (so am I) so I figured it was something like that.

thanks for the info!
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October 19, 2011, 02:18:31 PM
 #508

MtGox users please test the Namecoin registration page, choose MtGox from the client menu.

Since I'm not going to be able to finish processing NMC payments until MtGox users are registered, and I'm about to walk out the door, I'll try to make time to get online on the trip to do it.

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October 19, 2011, 03:13:31 PM
 #509

MtGox users please test the Namecoin registration page, choose MtGox from the client menu.

+1, just registered my old address
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October 19, 2011, 04:58:09 PM
 #510

pool down?
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October 19, 2011, 05:00:01 PM
 #511

pool down?

yea .. ddos all pools
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October 19, 2011, 05:08:01 PM
 #512

yikes your right, damn if I wasnt at work I would be solo mining to see if I could get lucky!

btw: I'm kind of old when it comes to the internet, when I was a youngin hanging around hackers, irc and packet kiddies (way back in the 90s) we just called it dos for denial of service attack, I noticed in modern internet lingo everyone calls it ddos now, so whats the extra d for?

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October 19, 2011, 05:12:31 PM
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Distributed Denial of Service
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October 19, 2011, 05:16:18 PM
 #514

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0
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October 19, 2011, 05:25:59 PM
 #515

its alive!

Edit: shit! down again

Supporting The Global Insurrection Against Banker Occupation
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October 19, 2011, 05:58:18 PM
 #516

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0

  haha, u and me both, brother.    Tongue

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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October 19, 2011, 06:15:32 PM
 #517

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0

I`m was profi in Borland C/Pascal too Tongue
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October 19, 2011, 06:21:31 PM
 #518

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0

I`m was profi in Borland C/Pascal too Tongue

 Add to that Dbase and Assembly and you got me in the same age group. ;p

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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October 19, 2011, 06:40:07 PM
 #519

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0

  haha, u and me both, brother.    Tongue

mine was called Thc.420 (yes I was a teenager at the time)
it was a major improvement on smurf
and paved the way for slice which came out a year or so afterwards

I remember the administrator from Hawaii.edu calling me on the phone at my parents house one night at 3 Am and politely asked me to stop holding his network down, (he found my nick in the greets in my code somewhere on a hacked shell account some where on his network and looked up cablepair.org which I owned at the time) and assumed it was me who hacked his network

definitely put a scare in me. Smiley
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October 19, 2011, 06:50:54 PM
 #520

groovy man Tongue


I actually wrote a dos program in C  back in the day - in the wild west days of efnet, but those days are long behind me, oh well thanks for the info :0

  haha, u and me both, brother.    Tongue

mine was called Thc.420 (yes I was a teenager at the time)
it was a major improvement on smurf
and paved the way for slice which came out a year or so afterwards

I remember the administrator from Hawaii.edu calling me on the phone at my parents house one night at 3 Am and politely asked me to stop holding his network down, (he found my nick in the greets in my code somewhere on a hacked shell account some where on his network and looked up cablepair.org which I owned at the time) and assumed it was me who hacked his network

definitely put a scare in me. Smiley


 HAHAHA, that brings back memories.  I had a sys admin at Syracuse CS servers pop in from a hidden terminal connection on me while I was busy configuring his servers to host BNC's for me. That was an interesting convo. Scared the shit out of me as I had an alerts terminal up to watch for terminal connections and saw none. But, POOF, there the bastard was looking right at me, and me directly connected at the time thru an open BNC, so if he wanted he coulda tracked me. In any effect, after several convos I gained a lock in there by agreeing to keep others out(which I usually did with my 'pots' anyhows), and was able to maintain my other activities down the line.

  Interestingly its also how I met the gentleman who later became my security advisor for an ISP I owned. He left a nice lil note on one of the mail servers of his I had been tapping thru that read, "I know you're in here" it was funny as hell at the time because I would wipe all the terminal logs, etc. But ofc that was obvious. We ended up dropping notes back and fourth for a while before I finally got the nerve to call him and reveal who I was and what I was up to.


  Fun times, fun times. These kids now a days just don't seem to give a shit and seem to be inclusive of a higher percentage of 'destructives' for no good reason than I grew up with...

  Cheers

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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