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Author Topic: [1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]  (Read 776426 times)
P4man
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January 28, 2012, 09:45:21 AM
 #801

1% isn't much when you see how the bitcoin markets constantly fluctuate. The price for a bitcoin is very unstable, and if I pay out in dollars then I'm taking a considerable risk. Best bet is probably to look at how volatile the markets have been and try to find some semi-safe markup. Two possible places to collect: require donation to activate paypal payout + use the latest market exchange rate minus a percentage.

FYI, eclipse pool charges 7.5% for paypal payouts.

As for volatility; you could protect yourself by selling the coins before handing out the paypal dollars. Youd give a guestimate how much the miner would get in dollar, but you only know for sure after you sold the bitcoins on mtgox. Since we are talking very small amounts here in all likelihood (no newbie is going to accumulate 100BTC from mining and have them paid with god knows what fee), the estimate shouldnt be far from the actual value.

I wouldnt pair this to donations though. This ought to be a revenue stream for you by itself, it doesnt make sense to limit your potential profit that way. Moreover, someone could just turn on donations when he wants to be paid out (and yeah, you could avoid that by only allowing blocks to be paid out when donations where set, but it would seem a lot of pointless work).

BTW, once you have this working, consider expanding the service to payout any bitcoins. So allow people to send BTCs to their bitminter account and sell them through paypal. Though you will want to look in to potential legal ramifications, Im not sure of those. If its doable, it would be a good way to make money and get traffic to your site.

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I don't think miners would want to pay $5 per SMS. But probably much more than the price I'd have to pay to send one.

This is probably best done not by donation but a feature you activate and it works as long as it can subtract the necessary sum from your balance each time a message is triggered. With a selectable limit for max messages per day.

Id do it slightly differently. I wouldnt make it appear as if the miner is paying for his sms messages himself from a savings account, even though to some extend, he obviously will. Enable it for anyone who donates x%, and do keep track of how many SMS he gets and how much the donation brings in, but give everyone some credit, so that even a smallish miner who activates the option gets a message 20 minutes later if a block is solved; even if he hasnt accumulated enough donations yet to "pay for it". Otherwise it may seem as if he enabled an option that costs him money and he is not getting anything for it.

Set an absolute limit for everyone (no point in sending out dozens of sms to anyone) and after 24 or 48 hours start comparing donations with costs and calculate a max number of daily SMS messages the miner is entitled to depending on his hash rate.
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Instant payment and paying invalid blocks is really the same feature. I was planning to activate that at perhaps 3% donation. Donate enough BTC and you get it on BTC blocks. Donate enough NMC and it works on NMC blocks.

Again, I would do this differently. Many newbies and non newbies havent got a clue what to do with their namecoins. Use that to your advantage. One option could be donating NMCs to the pool. Im pretty sure that would be popular. I got about 100NMC in my bitminter account now, their yours once I have the option to donate them.I dont think Im alone here.

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Interesting. Maybe instead of different perks activating at different donation levels, you would "buy" perks with your donations. Each perk would require X percent donation, and you can freely pick the ones you prefer. And then there is the VIP package that gives you all features and costs less in donation than all the individual features added together.

K.I.S.S.

Id offer no more than 2 or 3 donation levels max. One of them being "donate namecoins".



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DeathAndTaxes
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January 29, 2012, 02:18:04 AM
 #802

Anyone else have "weird" stats since the reboot when it comes to namecoin?

My namecoin shares are a tiny fraction of my bitcoin shares.  They aren't being rejected there just aren't any Huh
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January 29, 2012, 05:16:36 AM
 #803

Anyone else have "weird" stats since the reboot when it comes to namecoin?

My namecoin shares are a tiny fraction of my bitcoin shares.  They aren't being rejected there just aren't any Huh

everything looks a-ok on my miners namecoin wise

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DeathAndTaxes
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January 29, 2012, 05:23:48 AM
 #804

Yeah the "issue" went away.  Not sure what that was.  For the last round BTC & NMC were the same.
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January 29, 2012, 09:31:30 AM
 #805

Whatever it was, it hasnt gone away. Reject rates are still through the roof. I guess that new server cant come soon enough.
https://bitminter.com/livestats/big

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January 29, 2012, 09:38:45 AM
 #806

Strange Huh

DrHaribo
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January 29, 2012, 10:12:42 AM
 #807

High load causing high stales this morning. Please be careful with connecting too many CPU workers. It will be smoother after switching to the new server.

ZodiacDragon84 and DeathAndTaxes, I think those are some very good ideas about advertisements. I don't like ads much, but as long as bitcoin is small I think this could be very interesting for both audience and advertisers. I may not have time to create an automated system for some time, but if someone wants to advertise just contact me and it can be done manually.

P4man, lots of good ideas there. All noted.

Yeah the "issue" went away.  Not sure what that was.  For the last round BTC & NMC were the same.

BTC and NMC rounds are not always the same, starting at the same point in time. Sometimes a lone NMC block is created and the current BTC round is longer than the NMC round. It can be confusing when looking at the worker stats.

Id offer no more than 2 or 3 donation levels max. One of them being "donate namecoins".

Yeah, that song is right. Wink There's a balance to strike though between so complex it's confusing and so simple it loses its flexibility. I think just 2-3 levels is too simple. On the other hand, multiple coin types add to complexity, maybe the perks can require minimum donations of both BTC and NMC to activate.

I think http://www.humblebundle.com/ does it well. Unfortunately there's no bundle on sale as I write this so you can't play with the payment options right now.

What I'm thinking so far: A new page under "my account" -> "donations and perks" working as follows.

Perks are listed saying what they do and what they cost. There's a button to toggle them on/off. The "VIP" perk turns everything else on in addition to itself.

Donations are listed by cause. There's a + button to add more causes to donate to ("block bonuses", "bitcoin core developers", "bitcoin miners union", and so on). One cause is always listed, the bitminter main donations that give you perks, cover the expenses of running the service, and can maybe one day help me break even. Wink

For each cause there are separate settings for each coin type (BTC, NMC). You have a box where you can type the percentage to donate and a slider you can drag if you prefer that instead. - and + buttons could go down and up 0.5%. Perhaps also a "max" button to automatically set the value+slider to the rest of your income of that coin type (that you haven't already set to donate to a different cause). Also a button to remove the cause from your list.

Turning on perks will make the BitMinter cause adjust up its value and sliders to cover the price of that perk if the setting isn't already high enough. Not sure if turning perks off should auto-adjust down. Maybe adjust down if the donation was set to exactly cover the perks. Also need to auto-disable perks if the donation is manually adjusted too low.

Perks could require X percent donation on one coin type or all. To keep it simple maybe a "pay unconfirmed blocks immediately" perk should require donations on all types and work on all types. Having one for each coin type may be more screen clutter and complexity than it is worth? At least if there are many perks and all are duplicated for each coin type. May have to think of something smart to make everyone happy there.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
jake262144
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January 29, 2012, 11:17:32 AM
 #808

Doc, I'm loving that perk purchase page idea.
Are you going to change the layout a bit to resemble Fallout's interface? Grin

Those good-old days of 2D games are never coming back :tries to hold back tears, to no great success:
ZodiacDragon84
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January 29, 2012, 12:19:04 PM
 #809

Doc, you rock.

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DrHaribo
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January 29, 2012, 02:32:02 PM
 #810

Slow miners totally crashed the server. Getting things up again now. Please don't run more than a handful of CPU miners until we get moved over on the new server.

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January 29, 2012, 02:44:47 PM
 #811

Pool is down...

Edit: And up  Smiley

P4man
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January 29, 2012, 03:30:08 PM
 #812

And we have a new king of the kill
1   Bossland   18,077 (MH)

Nice!

DrHaribo
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January 29, 2012, 04:01:46 PM
 #813

Just restarted the back end with a new version, with better long polling (priority for faster miners, and some tweaks), plus X-Roll-NTime support to reduce load from fast miners. Load is still high on the server, but hopefully the other changes can help hold the stales down.

Edit: Forgot to mention another important change: We are now running with BIP-16 voting. The discussion here seemed pretty unanimous in supporting Gavin and his BIP-16, so that is now in effect. We already had BIP-16 support in the server's bitcoind for a couple days, but we weren't voting until now because I had to update the block generation code.

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DeathAndTaxes
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January 29, 2012, 04:23:51 PM
 #814

Pushing 110GH/s (and that is w/ 3GH/s of mine down).  Good work minters.

[/semi off topic]
After spending all day getting BAMT+cgminer working (which BTW it rocks), doing my monthly inspection, and cleaning of miners, and making some changes to cooling setup I was tired.

However I decided to upgrade my AMD drivers on my watercooled workstation to finally get rid of CPU bug.

BSOD.  Reboot.  BSOD.  Somehow last good config = BSOD.  I had no flash drives to reinstall windows so I said frak it.  Thanks AMD+windows.  Great ending.
[/semi]
jake262144
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January 29, 2012, 04:30:22 PM
 #815

... Somehow last good config = BSOD.  I had no flash drives to reinstall windows so I said frak it.  Thanks AMD+windows.  Great ending.
I reckon you did manage to log into windows prior to the BSOD?
The "Last good config" registry value gets overwritten on each successfully finished boot, hence is of limited use.
Then again, Windows itself is of limited use Wink
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January 29, 2012, 05:09:47 PM
 #816

And we have a new king of the kill
1   Bossland   18,077 (MH)

Nice!

Welcome Bossland!  Grin
P4man
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January 29, 2012, 05:27:36 PM
 #817

Strange the server is struggling (its actually down atm). When we had those poolhoppers, it seemed to cope just fine when he had 120+GH.
Is it possible you are logging something and that log file is becoming massive?

DeathAndTaxes
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Gerald Davis


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January 29, 2012, 05:30:59 PM
 #818

P4man it isn't raw hashpower that hurts servers it is those pathetic CPU miners with 100+ workers to generate a couple GH.

Sorry guys I had to switch to backup pool.  I can't handle 3%+ stales.  I doubt Dr H will do this but if it were my pool I would ban CPU miners.   The cheapest GPU gets what 80MH/s?.  Anyone with a worker running less than that is likely a botnet CPU mining scumbag.

P4man
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January 29, 2012, 05:32:07 PM
 #819

P4man it isn't raw hashpower that hurts servers it is those pathetic CPU miners with 100+ workers to generate a couple GH.

There are no more workers than otherwise. 280 or so.




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January 29, 2012, 05:33:50 PM
 #820

Doc is working on it !

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