Triple your income from mining with mini-pools!

[Oldminer]

Mrsam,

can we get current (and previous) rounds 'duration time' added to control panel?

thanks

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[coblee]

The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!

You are reading it wrong, %1 of 50BTC is taken every time a block is found. Some of that is divided under people who started a mini pool and the rest goes to the jackpot.

So everyone is allways participating.

It is offcourse in your best interest to convice people to join your minipool, but if you don't and you 'solo mine' you still have the chance of winning the jackpot.

Keep in mind that there are currently only 28 people mining so your chance is 1/28 to win 0.5 BTC, that's not so bad is it ?

I will say it again. This is a zero-sum game. (see http://en.wikipedia.org/wiki/Zero_sum_game)
If someone in this pool (minipool owners) has a better expected value mining in this pool than otherwise, then someone else (non minipool owners) must have a worse expected value. Not everyone in this pool will benefit! No matter how much the jackpot is or how enticing it is, there still an expected value for it. And for non minipool owerners, that expected value is less than 1%.

[Oldminer]

mrsam, can you add 'current & previous round duration' stop/start times in Control panel please?

[jdebunt]

mrsam, can you add 'current & previous round duration' stop/start times in Control panel please?

would love to see this aswell

[Oldminer]

This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting because they are not minipool owners (ie they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.

Nice arguement except it all falls apart where you claim people will suddenly be unable to find anyone to join under them LOL. What are we suddenly not going to have any new miners? Has world population growth suddenly stagnated? People no longer being born?? Or are you simply saying the exponential growth in internet use we have been seeing since the turn of the millenium has suddenly stopped? Which one is it? In this respect, your arguement is flawed.

Just accept the fact this mining pool offers some cool incentives which the pool your a member of (or operate) doesnt.

[Oldminer]

Thanks to everyone thats joined my pool - all 12 of you. Not a bad effort considering I only signed up myself 36 hrs ago  

To everyone else thats not joined yet - come on over to TRIPLEMINING - kick off your very OWN mining pool and earn EXTRA REWARDS for your efforts!

[BkkCoins]

So it sounds like the 1% shared/jackpot is in lieu of a pool fee?
If so, then there isn't really a downside in comparison to a pool that takes a 1% fee.

But since the jackpot can only be won by a worker who found a block that would reward those more likely to find blocks, ie. the higher hash rate workers. So in essence the pool is re-distributing the fee typically taken by other pools to those that contribute the most by either hashing more, or bringing more workers in.

Unless, I'm wrong and there is some additional fee taken by the pool I don't see it being a bad arrangement.

[jdebunt]

the jackpot is distributed to any random miner who is mining at the time of the jackpot, regardless of hashing rate.

As long as you're active on that given time, you can win the pot.

[FractalUniverse]

Jackpot fell at: 09:31 (GMT)
Winner of the jackpot: PandaMiner


any pandaminers around here? congrats

[lechuck]

but does a miner that joins a minipool somehow benefit, even if hes the lowest level?

[Oldminer]

but does a miner that joins a minipool somehow benefit, even if hes the lowest level?

Everyone benefits. This isnt a pyramid scheme. Look at it more as 'networking' (ie a pooling of resources).

The way it works is you come in and you start your own pool. Who is 'above' you is irrelevant. Sure your contributing toward their pool, but those below you will be contributing to yours.

[lechuck]

sure i get that but why would anybody join my minipool?

[jdebunt]

sure i get that but why would anybody join my minipool?

just try to promote that they help you and they help themselves it's the truth.

[PandaMiner]

Jackpot fell at: 09:31 (GMT)
Winner of the jackpot: PandaMiner

any pandaminers around here? congrats

Yes, I believe there is.  I woke up to a nice email this afternoon.

And you signed up as "bitcoin" lol.  Nice referral address.


I got two in my mini pool, but they never sent a hash over. I wonder if they couldn't figure it out, or just didn't like the front end?

[Oldminer]

I got two in my mini pool, but they never sent a hash over. I wonder if they couldn't figure it out, or just didn't like the front end?

Ive got 15 in my pool and currently 2 are mining. Of the others I notice a few of them come on and mine for a while then stop.

My theories to explain this are:

1. Unlike me and others here, they dont mine 24 x 7.

2. They couldnt figure out how to start

3. They didnt like the front end

4. They werent really interested in mining but were just curious as to what were are doing (perhaps some of them were pool owners themselves)

I do however think we need to streamline the instructions a bit for those less technically inclined. I had no problem figuring out how to register, create a couple of miners, and configure my guiminer, but then Im a techo. I think theres quite a few people here that need to be led by the hand. Perhaps we could include step by step guides with pictures?

Btw for those in my pool I've changed our pool name to 'Oldminer' (another pseudo I use on the 'net is Stripes). Out of curiosity, because I was one of the first starters, and so didnt join an existing pool, what do you guys see in the frontend? Is it just a list of miner names and hash rates like I see?

[FractalUniverse]

Jackpot fell at: 09:31 (GMT)
Winner of the jackpot: PandaMiner

any pandaminers around here? congrats

Yes, I believe there is.  I woke up to a nice email this afternoon.

And you signed up as "bitcoin" lol.  Nice referral address.


I got two in my mini pool, but they never sent a hash over. I wonder if they couldn't figure it out, or just didn't like the front end?

 aahh thanks for confirmation that Pandaminer is real and exists;D

[MrSam]

Btw for those in my pool I've changed our pool name to 'Oldminer' (another pseudo I use on the 'net is Stripes). Out of curiosity, because I was one of the first starters, and so didnt join an existing pool, what do you guys see in the frontend? Is it just a list of miner names and hash rates like I see?

People see in their account only the members below them, they don't see that they are part of your pool ..

[Oldminer]

People see in their account only the members below them, they don't see that they are part of your pool ..

Ah cool.

[MrSam]

I got two in my mini pool, but they never sent a hash over. I wonder if they couldn't figure it out, or just didn't like the front end?

Ive got 15 in my pool and currently 2 are mining. Of the others I notice a few of them come on and mine for a while then stop.

My theories to explain this are:

1. Unlike me and others here, they dont mine 24 x 7.

2. They couldnt figure out how to start

3. They didnt like the front end

4. They werent really interested in mining but were just curious as to what were are doing (perhaps some of them were pool owners themselves)

For me this is very bizarre as well :/ But i do agree that we need a good visual step by step guide.



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[FractalUniverse]

@oldminer ; possible no. 5.) their hashrate is less than 1MHash/s and they dont show up as active [i don't know if this is true just thinking]