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Author Topic: Help me pick a pool  (Read 5418 times)
eleuthria
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July 12, 2013, 07:37:08 PM
 #41

You could always stay with BTC Guild.  We have cookies!

RIP BTC Guild, April 2011 - June 2015
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July 12, 2013, 07:45:51 PM
 #42

I noticed my avalon has the option to mine with multiple pools. Is that mining with multiple pools at once or just switching to another pool when your main pool is down?

Your Avalon is using CGMiner.  The CGMiner thread top post and the readme explain the mining strategies.

----------------------Readme-------------------------------------------
MULTIPOOL

FAILOVER STRATEGIES WITH MULTIPOOL:
A number of different strategies for dealing with multipool setups are
available. Each has their advantages and disadvantages so multiple strategies
are available by user choice, as per the following list:

FAILOVER:
The default strategy is failover. This means that if you input a number of
pools, it will try to use them as a priority list, moving away from the 1st
to the 2nd, 2nd to 3rd and so on. If any of the earlier pools recover, it will
move back to the higher priority ones.

ROUND ROBIN:
This strategy only moves from one pool to the next when the current one falls
idle and makes no attempt to move otherwise.

ROTATE:
This strategy moves at user-defined intervals from one active pool to the next,
skipping pools that are idle.

LOAD BALANCE:
This strategy sends work to all the pools to maintain optimum load. The most
efficient pools will tend to get a lot more shares. If any pool falls idle, the
rest will tend to take up the slack keeping the miner busy.

BALANCE:
This strategy monitors the amount of difficulty 1 shares solved for each pool
and uses it to try to end up doing the same amount of work for all pools.
---------------------------Readme Not-------------------------------------



So many choices. So many decisions to make. What seems to be the most preferred method?


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July 12, 2013, 07:48:12 PM
 #43

You could always stay with BTC Guild.  We have cookies!

3% fee vs no fee. What would you do? People seem to prefer DGM over PPLNS too.


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July 12, 2013, 07:49:17 PM
 #44

I noticed my avalon has the option to mine with multiple pools. Is that mining with multiple pools at once or just switching to another pool when your main pool is down?

Your Avalon is using CGMiner.  The CGMiner thread top post and the readme explain the mining strategies.

----------------------Readme-------------------------------------------
MULTIPOOL

FAILOVER STRATEGIES WITH MULTIPOOL:
A number of different strategies for dealing with multipool setups are
available. Each has their advantages and disadvantages so multiple strategies
are available by user choice, as per the following list:

FAILOVER:
The default strategy is failover. This means that if you input a number of
pools, it will try to use them as a priority list, moving away from the 1st
to the 2nd, 2nd to 3rd and so on. If any of the earlier pools recover, it will
move back to the higher priority ones.

ROUND ROBIN:
This strategy only moves from one pool to the next when the current one falls
idle and makes no attempt to move otherwise.

ROTATE:
This strategy moves at user-defined intervals from one active pool to the next,
skipping pools that are idle.

LOAD BALANCE:
This strategy sends work to all the pools to maintain optimum load. The most
efficient pools will tend to get a lot more shares. If any pool falls idle, the
rest will tend to take up the slack keeping the miner busy.

BALANCE:
This strategy monitors the amount of difficulty 1 shares solved for each pool
and uses it to try to end up doing the same amount of work for all pools.
---------------------------Readme Not-------------------------------------



So many choices. Not sure where to start. What seems to be the most preferred method?

Depending on what you want, I would use Failover, Rotate, or Balance.

If you want to primarily mine on one pool, use failover with a few backup pools.

If you want to try to lower your variance with multiple pools use Rotate (time based switching) or Balance (difficulty 1 share count based switching).

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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July 12, 2013, 07:51:53 PM
 #45

One pool sounds easiest. Easy is nice. But im wondering what pays more. Should i one pool or multi pool? Im guessing opinions will vary but im sure there are facts behind the opinions.


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July 12, 2013, 07:55:01 PM
 #46

If you want to transfer bitcoins from one place to another, such as buying something time critical if you include a transaction fee people generating blocks will, most likely, include your transaction quicker if you offer a transaction fee.  At some point in the future transaction fees will surpass the block generation reward.

So pools that share transactions will add that to the 25 BTC block reward.
Sam

So OZcoin pays the transaction fee to get BTC transferred quicker? Quicker is nice but that doesnt seem to be a good reason to pay 1% vs 0%. I also noticed maxbtc does not support ASIC. Am i wrong to assume eclipse is the best pool?


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July 12, 2013, 07:55:29 PM
 #47

One pool sounds easiest. Easy is nice. But im wondering what pays more. Should i one pool or multi pool? Im guessing opinions will vary but im sure there are facts behind the opinions.
Absolutely no strategy is guaranteed to pay you more except for one thing: Making sure you have multiple pools in case one or more fails for whatever reason.

Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
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July 12, 2013, 07:55:41 PM
 #48

You could always stay with BTC Guild.  We have cookies!

I thought that was someone else's  tag line? Smiley

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July 12, 2013, 07:56:48 PM
 #49

I understand no pool or method is guaranteed to pay more. Luck is involved. But i can make an educated decision based on features and fee's. So thats what im trying to accomplish.


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July 12, 2013, 07:57:50 PM
 #50

One pool sounds easiest. Easy is nice. But im wondering what pays more. Should i one pool or multi pool? Im guessing opinions will vary but im sure there are facts behind the opinions.

In my experience, p2pool will have the best payouts if you have a better than average setup (no fees, transaction fees included in payouts).  Multiple pools will not increase your payout (with the exception of pool hopping on the few pools that are still vulnerable to it, but that's a different conversation), it will only lower your variance.  With multiple pools, you will effectively spend 1/X of your time with X different pools so it evens out the luck.

Even if you intend to only mine on one pool, you should set a failover pool in case your chosen pool goes down for any reason.

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July 12, 2013, 07:59:31 PM
 #51

If you want to transfer bitcoins from one place to another, such as buying something time critical if you include a transaction fee people generating blocks will, most likely, include your transaction quicker if you offer a transaction fee.  At some point in the future transaction fees will surpass the block generation reward.

So pools that share transactions will add that to the 25 BTC block reward.
Sam

So OZcoin pays the transaction fee to get BTC transferred quicker? Quicker is nice but that doesnt seem to be a good reason to pay 1% vs 0%. I also noticed maxbtc does not support ASIC. Am i wrong to assume eclipse is the best pool?

No, OZcoin pays you the transaction fees for transactions included in the block.  Many pools only pay out the subsidy (25 BTC) and keep the transaction fees for themselves.

https://www.bitcoin.org/bitcoin.pdf
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July 12, 2013, 08:00:39 PM
 #52

If you want to transfer bitcoins from one place to another, such as buying something time critical if you include a transaction fee people generating blocks will, most likely, include your transaction quicker if you offer a transaction fee.  At some point in the future transaction fees will surpass the block generation reward.

So pools that share transactions will add that to the 25 BTC block reward.
Sam

So OZcoin pays the transaction fee to get it quicker? Quicker is nice but that doesnt seem to be a good reason to pay 1% vs 0%. I also noticed maxbtc does not support ASIC. Am i wrong to assume eclipse is the best pool?

No, i think you misunderstand, or i do. Pools receive fractions of a bitcoin(transaction fees) to include transaction in the blocks they find. Some pools share the fees with the miners, some don't. don't ask me which do which, i don't know. I know Slush Pool does. that is where i mine. I also mine at BTCguild.
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July 12, 2013, 08:01:03 PM
 #53

If you want to transfer bitcoins from one place to another, such as buying something time critical if you include a transaction fee people generating blocks will, most likely, include your transaction quicker if you offer a transaction fee.  At some point in the future transaction fees will surpass the block generation reward.

So pools that share transactions will add that to the 25 BTC block reward.
Sam

So OZcoin pays the transaction fee to get it quicker?

No! When a block is solved there are also transaction fees added to it.  So the total reward is Block Plus Transaction fees, 25BTC + Fees.  Total block reward is around 25.2 or so most of the time.  The extra from the fees will be distributed to all miners with the rest of the reward.  0 fee pools usually keep the extra transaction fees as their operation fee.

Block rewards halve every 210,000?? blocks so one day transaction fees will surpass block rewards.
Hope that makes sense now,
Sam

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July 12, 2013, 08:05:13 PM
 #54

TY for education. I did misunderstand. I thought transaction fee was the fee you get asked to pay to send BTC through nodes quicker. I like the fact that graet shares this with his pool. But it doesnt sound like this is sufficient enough to make 1% fee pool a better option over a 0% fee pool. Especially when you have a substantial amount of hashing power.


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July 12, 2013, 08:06:06 PM
 #55

Even if you intend to only mine on one pool, you should set a failover pool in case your chosen pool goes down for any reason.

Yes, what he said.

You should always 2 or 3 alternate pools in case of a failure or DDoS attack on your main pool.  Your last failover pool should always be your local Bitcoin-QT too so that if all else fails your solo mining at least, that's good for the bitcoin network too.  Just running your bitcoin client helps relay transactions.
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July 12, 2013, 08:49:36 PM
 #56

I think im going with esclipse but still considering bitparking. Last few questions before i do. I noticed they have different features. Variable difficulty, local work, and merged mining. How does this work?



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July 12, 2013, 08:54:10 PM
 #57

Figured out merged mining. Eclipse also mines namecoin. Bitparking mines namecoin, devcoin, and IXcoin. I never heard of these before. Im sure the value is nothing compared to BTC. But it is still something. Should something like this influence my decision making?

Also, that sticky seems to have outdated information. Eclipse does offer merged mining. They also offer conversion from namecoin to BTC.


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July 12, 2013, 09:02:17 PM
 #58

Dam, bitparking is only offering 0% DGM temporarily. They are going back to 1.5% soon. Looks like im going with eclipse unless somebody can sway me away from eclipse.

Still need to figure out stratum and getwork/GBT.


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July 12, 2013, 10:15:30 PM
 #59

Still need to figure out stratum and getwork/GBT.

Those are protocols - there are threads which specialize in the description of them and are easy to find.

Stratum will be best for your Avalons

Do not use getwork for Avalons this is the old CPU/GPU mining protocol

GBT would be OK but Stratum is better for Avalons

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
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os2sam
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July 12, 2013, 10:17:57 PM
 #60

Figured out merged mining. Eclipse also mines namecoin. Bitparking mines namecoin, devcoin, and IXcoin. I never heard of these before. Im sure the value is nothing compared to BTC. But it is still something. Should something like this influence my decision making?

Also, that sticky seems to have outdated information. Eclipse does offer merged mining. They also offer conversion from namecoin to BTC.

Here's info on Namecoin

http://dot-bit.org/Main_Page

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
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