Bitcoin Forum
October 24, 2017, 09:58:41 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [XPM][ANN] Private pooled mining  (Read 692 times)
versificateur
Jr. Member
*
Offline Offline

Activity: 43


View Profile
July 26, 2013, 10:27:35 PM
 #1

Schedule operation launch : 01/08/2013

THE PRIVATE AFFORDABLE HIGH PPS SHARED FOR PRIMECOIN MINING

First I have to say to all people here that I really believe in this coin. S.King did a really good job and we've got a serious competitor to BTC and LTC. It's not only a question of finding primes, it's also a huge interest from community. I have other projects with crypto-currency, but I wanted to start this because it's an opportunity.

As we all now, the coin is still profitable, but is HIGHLY random. Some tried (and succeed) to make a pool, but I don't have time and skills to write my own mining software for pooled mining purposes.
So what here is what I propose to the XPM mining community: An hybrid solution of PPS rent and pool mining. You can see it as a subscription based pool.

What will you get ?
- one month dedicated ~5000PPS@10CPM
- insurance of recurrent mining revenue so you can be sure you won't mine for nothing
- a web page that will give you reporting and withdraw options

Basic rules ?
- I'll sell only block of 5K PPS for a target power of 250-300K PPS
- Each block is called a miner
- One person can have multiple miners and thus get a rig
- If we don't reach at least 200K PPS the launch will be aborted
- I'll use dedicated hardware and want to minimize my own risks so rental/subscription is only by month

How much does it cost ?
- My current estimate is 0,6 BTC per miner
- I'll charge a 5% maintenance fees but in return will pay at 100 confirmations which is extremely fast for primecoin

Is it profitable?
- Yes
- On the extreme low figure of 20 block per day each miner will get around 5 XPM/day. At a more realistic 25 blocks per day, break-even is reached within 10-days.

What is my motivations?
I currently run a small cluster since one week (around 50K PPS) and got 5-6 blocks per day on average. But IT IS EXTREMELY RANDOM (like 3 block one day and 8 another one) so I want to "swap" my access to cheap dedicated hardware against a more stabilized income.

GPU Mining?
I don't expect efficient GPU mining for now. mtrlt and primedigger are facing serious difficulties to port primecoin miner to GPU. It will take time to have something running first, and then to optimze it. People aware of the subject also don't expect a big scale with GPU. I personally think that primecoin will not be ruled by GPU, but by RISC processors with many cores like Altera ones.

Do you have questions?
PLEASE ASK

One more thing: I'll be glad to have a second person involved (as escrow, coordinator, whatever)
1508839121
Hero Member
*
Offline Offline

Posts: 1508839121

View Profile Personal Message (Offline)

Ignore
1508839121
Reply with quote  #2

1508839121
Report to moderator
Transactions can optionally carry transaction fees. Whoever mines the block which ends up containing your transaction will get the fee. The Bitcoin client will sometimes force you to pay a fee when it thinks that no miner will accept your transaction otherwise.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508839121
Hero Member
*
Offline Offline

Posts: 1508839121

View Profile Personal Message (Offline)

Ignore
1508839121
Reply with quote  #2

1508839121
Report to moderator
1508839121
Hero Member
*
Offline Offline

Posts: 1508839121

View Profile Personal Message (Offline)

Ignore
1508839121
Reply with quote  #2

1508839121
Report to moderator
versificateur
Jr. Member
*
Offline Offline

Activity: 43


View Profile
July 26, 2013, 10:41:33 PM
 #2

reserved
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!