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Author Topic: [1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]  (Read 834525 times)
mdude77
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November 26, 2012, 02:02:59 AM
 #2121

As requested by Doc (poolop), MPoolMonitor now supports BitMinter.

https://bitcointalk.org/index.php?topic=86502.0.

Regards,

M

I mine at Kano's Pool because it pays the best and is completely transparent!  Come join me!
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DrHaribo
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November 26, 2012, 06:13:35 AM
 #2122

As requested by Doc (poolop), MPoolMonitor now supports BitMinter.

That's great news! Thank you for adding support  Smiley

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AfricanHunter
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November 26, 2012, 09:02:20 AM
 #2123

Came over to see if I was imagining the bad luck, guess I wasnt after all Sad

I would be up for nearly anything that keeps the pool going. Love Bitminter

Thinking about doing business with johnniewalkerhttps://bitcointalk.org/index.php?action=profile;u=72227?
First read this thread https://bitcointalk.org/index.php?topic=131841.0

Also, Join the National Rifle Association to protect 2nd Amendment Rights http://membership.nrahq.org/default.asp?campaignid=XR020022
philipma1957
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November 27, 2012, 06:30:48 PM
 #2124

I was doing some thinking about stales and orphans.  2% for protection means the pool has to have 50 to 1 .  stales don't get paid so they are a push for the pool.   only orphans are paid out.   so I am going to break down the bit minter from july on. it will take a bit of time so bear with me.  first stat is 68 pages of btc = 68 x 20 or 1360 plus one or

I am basing this on  every miner paying the minimum donation for btc. If a miner does not pay he does not get paid for the orphan so the logic is sound.  Of course if people are giving above and beyond the asked donation my method would be over counting the losses.


1361 btc since july 1  

135 btc for all of july . 2 stales and 2 orphans  so that is 131 out of 133  the stales don't count.  131 out of 133 is  98.49 percent  the donation asked was 1% so July was a loss.

208 btc for Aug .  1 stale and 0 orphans.  so 207 out of 207  the stales do not count.    this is 100%  the donation asked was 1%  so AUG was a win.

310 btc for sept. 0 stale and 5 orphans.  so 305 out of 310  ------------------------------   this is  98.3% the donation asked was 1% so Sept. was a loss. 


 I am going to make a break at this point.  the 3 months above  were all at 1%.  totals are 653 coins 3 stales and 7 orphans.

 break down is 643 out of 650 or 98.9 percent so the pool lost money based on 1% donation  since it would need to be 99% to break even.  not to count equipment and time spent.

 So asking for 2%  in mid Oct is not out of line based on these 3 months of stats.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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November 27, 2012, 08:00:54 PM
 #2125

New post for oct  

 okay 383 btc  5 stales 2 orphans  .   this is 376 out of 378   as stales don't count   this is 99.4%  so at 1% bit minter made a profit and 2% bit minter made a profit.  


one to go

 nov. 328 btc 3 stales 9 orphans.   this is 316 out of 325   as stales don't count this is  97.2 %   so at 2% bitminter lost . 


 now in Nov  9  orphans is equal to all of  july ,aug ,sept ,oct.       

  9 of 328 vs  9 of 1036  or

 2.744%     nov.  orphan rate

  vs   .8687%   July  - Oct  orphan rate.      it is a quick breakdown    so pardon errors.   

   the five month rate is  1.319 percent.  so in theory 2% should make some money 1 % would lose some money.   

I for one would be  willing to bump to 2.5% but if the rate stays low for a few months go back to 2 %.   Some swing number could be worked out.

 Namecoins are small but the same could be done.

I have a background in accounting  I don't mind the Doctor making some money and on paper it looks like he did not make much if any over the last 5 months.

 If this was my pool  I would think 2% may be too low 3% may be too high.   I do not have a breakdown for all pools orphan rates.


 Stales are another pair of sleeves.  we had 11 since July 1.

8 of which came in the last 2 months. 


  Of course we are not counting block split and asics  that is a different discussion.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
loshia
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November 27, 2012, 08:59:15 PM
 #2126

Whatever DOC made if he made something at all he deserves it. Not mentioning the fact that probably some of the pools have some "bugs" not showing the orphans like Ozcoin according to DOC post. I do not know if they are paying the orphans or not though. I have not mined there and i am not bashing at ozcoin at all. Some of the pools "officially" do not support merged mining. And as we all know it is not a rocket science to merge mine especially when you are pool operator. And to take 2.5% (All NMC income) on top of their 4% donation right?

Doc please do your math and tell us what shall be minimal donation in order for pool to stay alive. You are the last one who shall pay for it



Please help the Led Boy aka Bicknellski to make us a nice Christmas led tree and pay WASP membership fee here:
https://bitcointalk.org/index.php?topic=643999.msg7191563#msg7191563
And remember Bicknellski is not collecting money from community;D
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November 27, 2012, 09:13:46 PM
 #2127

While I think reducing block size would help a bit and I had a couple other ideas for reducing orphans, I believe Sturle's idea in combination with propagating blocks outside the bitcoin peer-to-peer network could make orphans nearly extinct. So I think that is the best way forward, for all pools.

I'll see what I can do. Stratum testing will hopefully begin soon. After that I have a few pressing matters of which the orphan problem is one. Priorities, priorities .. Smiley

Thanks for the support, guys, and thanks for running the numbers, philipma1957. Smiley

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organofcorti
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November 27, 2012, 09:30:22 PM
 #2128

While I think reducing block size would help a bit and I had a couple other ideas for reducing orphans

I checked back in June - block size to that point had no significant influence on whether a block was orphaned or not. Maybe it does now.
https://bitcointalk.org/index.php?topic=88302.msg984376#msg984376



Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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juhakall
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November 27, 2012, 10:55:46 PM
 #2129

I'm trying out BitMinter's GBT server for the first time, and got strange rejects on cgminer 2.9.5 almost immediately:

 [2012-11-28 00:50:30] Rejected 33f2f1eb Diff 4/4 GPU 2 pool 0 (unknown-work)
 [2012-11-28 00:50:38] Accepted 3b537d2f Diff 4/4 GPU 0 pool 0
 [2012-11-28 00:50:47] Accepted 387a7e01 Diff 4/4 GPU 2 pool 0
 [2012-11-28 00:50:57] Accepted 34475128 Diff 4/4 GPU 2 pool 0
 [2012-11-28 00:51:03] Accepted 378ea469 Diff 4/4 GPU 0 pool 0
 [2012-11-28 00:51:46] Accepted 1c1a6472 Diff 9/4 GPU 1 pool 0
 [2012-11-28 00:51:47] GBT LONGPOLL from pool 0 requested work restart
 [2012-11-28 00:51:49] GBT LONGPOLL from pool 0 requested work restart
 [2012-11-28 00:51:57] GBT LONGPOLL from pool 0 detected new block

As you can see, it comes seemingly in the middle of a block. I can't get a clear understanding of what's wrong with those, since a similar problem was supposed to be fixed in 2.9.4.

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DrHaribo
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November 27, 2012, 11:06:15 PM
 #2130

I'm trying out BitMinter's GBT server for the first time, and got strange rejects on cgminer 2.9.5 almost immediately:

I am also running 2.9.5 testing GBT.  Not many rejects: A:54005  R:46. And I haven't seen any rejects that didn't happen at a block change.

Seems like we need a bit more testing. Anyone else seeing something like that?

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philipma1957
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November 27, 2012, 11:08:52 PM
 #2131

While I think reducing block size would help a bit and I had a couple other ideas for reducing orphans, I believe Sturle's idea in combination with propagating blocks outside the bitcoin peer-to-peer network could make orphans nearly extinct. So I think that is the best way forward, for all pools.

I'll see what I can do. Stratum testing will hopefully begin soon. After that I have a few pressing matters of which the orphan problem is one. Priorities, priorities .. Smiley

Thanks for the support, guys, and thanks for running the numbers, philipma1957. Smiley

 Yeah no problem on looking at the stats. I had my donations set at 2% BTC and  2.6% NMC . After the crunch of numbers I have decided to up my btc to 2.5% and my nmc to 4%.

 Here is how I look at this I like this pool I want it to work. I mint about 20 usd a day 2 percent would be 40 us cents 2.5 percent would  be 50 us cents. so for my 7k hash to keep going it is worth an extra 10 cents a day to me. This pool is good simple and does not need endless care. so for 10 cents a day or $36.50 usd a year I can go for the extra .5 percent.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
juhakall
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November 27, 2012, 11:14:36 PM
 #2132

I am also running 2.9.5 testing GBT.  Not many rejects: A:54005  R:46. And I haven't seen any rejects that didn't happen at a block change.

Seems like we need a bit more testing. Anyone else seeing something like that?


I stopped having those rejects after changing all my rigs to BitMinter GBT. Could be just bad luck, but is it possible that having difficulty change dynamically may cause that kind of rejects? I don't have a good understanding of how dynamic difficulty works. At first the difficulty hovered around 1-2, but after pointing all the rigs at BitMinter GBT it's been stable at 4.

EDIT: Now my share difficulty went up to 8, and dropped back to 4 soon afterwards. If my hashrate is just about at the threshold between 4 and 8, at least I'm testing the dynamic difficulty thoroughly.

Yup, it's been changing between 4 and 8 for some time now.

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DrHaribo
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November 28, 2012, 01:48:46 PM
 #2133

As I write this there are only 7 blocks left with 50 new coins in them. After that it's down to 25. Let's get block 209999! Fire up some extra miners. Wink

I had my donations set at 2% BTC and  2.6% NMC . After the crunch of numbers I have decided to up my btc to 2.5% and my nmc to 4%.

Thank you, sir, much appreciated! Smiley

I stopped having those rejects after changing all my rigs to BitMinter GBT. Could be just bad luck, but is it possible that having difficulty change dynamically may cause that kind of rejects? I don't have a good understanding of how dynamic difficulty works. At first the difficulty hovered around 1-2, but after pointing all the rigs at BitMinter GBT it's been stable at 4.

With Stratum there has been some changes to how difficulty works. Earlier it could create a few rejects, but in the future hopefully it won't anymore.

GBT, however, should not. So you should not be seeing any rejects at all apart from at the block change (long poll) times.

Did you happen to catch the message about why the work was rejected?

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November 28, 2012, 03:51:51 PM
 #2134

I haven't seen the difficulty go down yet as we just minted 210001 - hmmm...

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November 28, 2012, 03:54:17 PM
 #2135

post reward reduction:

The "Expected per block" is wrong.

The amount actually awarded is correct.

-- edit --

Sorry, you said "difficulty". No, the difficulty won't change.
Not until GPU folks drop out and it goes down.
Or until ASIC folks begin and it goes up.

On the next regular ~2k block interval.
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November 28, 2012, 04:08:27 PM
 #2136

Just a question: does Bitminter includes TX fees in the miners payments?
Now after the halvening this is more important.
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November 28, 2012, 04:11:04 PM
 #2137

Just a question: does Bitminter includes TX fees in the miners payments?
Now after the halvening this is more important.
Read the title of the thread.

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WhitePhantom
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November 28, 2012, 04:38:26 PM
 #2138

Doc, are we accidentally still being paid based on a 50 BTC block reward?
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November 28, 2012, 04:59:50 PM
 #2139

Just a question: does Bitminter includes TX fees in the miners payments?
Now after the halvening this is more important.

Yep. If you click on the height numbers at bitminter.com/blocks you will see how much income there is from each block, and how much is paid out to miners (same number twice).

And you are right, this is now more important. Have a look at my answer to this question: http://bitcoin.stackexchange.com/questions/5515/how-much-is-a-mining-pool-share-worth-on-average
I ran some numbers there, and transaction fees and namecoins are now starting to matter. Put together they give about 3.4% extra income. So if you mine at a pool with 3% fees which doesn't pay transaction fees and namecoins, that's more like a 6.4% fee, which seems a bit steep.

Doc, are we accidentally still being paid based on a 50 BTC block reward?

No, BitMinter looks at the exact income from a block and shares that out to the miners, so it will never be wrong.

But...

post reward reduction:

The "Expected per block" is wrong.

The amount actually awarded is correct.

Yeah, sorry, I forgot this expected income per block shown on the account details page on the website, that number is based on each block giving 50 BTC. Will fix in a moment.

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November 28, 2012, 09:12:05 PM
 #2140

"Expected per block" on website corrected to take the reward halving into account.

I also added MPoolMonitor under "tools" -> "third party apps" on the website.

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