[1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]

[DeathAndTaxes]

DAT is back ! 

Yeah.  Someone rented out my rigs for 15 days.  Not sure why they wanted to but they were paying more than market rate.

[bitlane]

I have slush configured as failback pool and I keep getting tiny amounts of BTC from slush.

Not to crap on your post....or configuration for that matter...but, WHY IN HELL would you set a score-based (or any NON-PPS/Time Based/Share Expiring) Pool as your Backup/Failover Pool ?

Wouldn't it make far more sense to use a pure PPS Pool as your Failover/Backup Pool ? .....a pool that doesn't care when you connect, or for how long, or for how little.....still giving you FULL value for every share submitted ?

You might be pleasantly surprised when those tiny bits begin to grow in size if your need for a backup/failover continue.

Again, sorry to point that out, but someone would have....or perhaps already did and I missed reading it.

Happy Mining

[P4man]

Not to crap on your post....or configuration for that matter...but, WHY IN HELL would you set a score-based (or any NON-PPS/Time Based/Share Expiring) Pool as your Backup/Failover Pool ?

Because I havent given it any thought, and I already had an account at slush before I discovered bitminer . Since we are talking about like 5  proofs of work per day, I cant be bothered to find and register and configure a better suited failover pool That said, maybe I should, not because of 0.0001 BTC difference, but because slush appears to be down again. Guess I should go and try p2pool.

[DeathAndTaxes]

I have slush configured as failback pool and I keep getting tiny amounts of BTC from slush.

Not to crap on your post....or configuration for that matter...but, WHY IN HELL would you set a score-based (or any NON-PPS/Time Based/Share Expiring) Pool as your Backup/Failover Pool ?

Wouldn't it make far more sense to use a pure PPS Pool as your Failover/Backup Pool ? .....a pool that doesn't care when you connect, or for how long, or for how little.....still giving you FULL value for every share submitted ?

I got to agree.  Although SMPPS if fine for backup too.  I use Arsbitcoin for all my rigs as backup.  Worst case scenario the buffer goes negative and you need to wait a little longer.   IMHO that is better than the high fees of PPS.

[Eveofwar]

Not to crap on your post....or configuration for that matter...but, WHY IN HELL would you set a score-based (or any NON-PPS/Time Based/Share Expiring) Pool as your Backup/Failover Pool ?

Because I havent given it any thought, and I already had an account at slush before I discovered bitminer . Since we are talking about like 5  proofs of work per day, I cant be bothered to find and register and configure a better suited failover pool That said, maybe I should, not because of 0.0001 BTC difference, but because slush appears to be down again. Guess I should go and try p2pool.

I guess you don't understand the concept behind payout methods.  I think you need to familiarize yourself with what each type offers, before you find yourself sending shares to pools that will do nothing but cause a detriment to your income.

[P4man]

Im familiar enough with them, Im just not bothered. Partially because I dont earn my living from mining, partially because since I joined bitminter, its been offline for all of 15 minutes. Ive only recently configured a failover at all, just in case bitminter would could under attack from DDoS, which likely would last longer than 15 minutes; P2Pool seems like an excellent alternative in case of massive DDoS attacks on pools, so Im not sure what your point is.

[bitlane]

Not to crap on your post....or configuration for that matter...but, WHY IN HELL would you set a score-based (or any NON-PPS/Time Based/Share Expiring) Pool as your Backup/Failover Pool ?

Because I havent given it any thought, and I already had an account at slush before I discovered bitminer . Since we are talking about like 5  proofs of work per day, I cant be bothered to find and register and configure a better suited failover pool That said, maybe I should, not because of 0.0001 BTC difference, but because slush appears to be down again. Guess I should go and try p2pool.

Nice and simple backup pool......

0% Fee, Immediate Credit/Payout, Pure PPS, Good Reviews.
https://bitcointalk.org/index.php?topic=33586.0  ...or...  http://www.abcpool.co/

ENJOY !

[DeathAndTaxes]

Yeah. P2ppol is PPLNS which would brutally punish you for leaving during a block (much like Bitminter).


Backup pool is likely to be rarely uses so it should be a PPS or SMPPS or ESMPPS.  You could also use Prop pool but given the income you lose to intentional hoppers and the fact there are lots of good PPS based pools I wouldn't.  Score based and PPLNS would be the worst if you will be using them for variable amounts of time.

On edit:  I have since learned this is incorrect.  Using PPLNS intermittently will not reduce your expected reward it does however have variability so it you use it infrequently and for short periods of time the payout can vary significantly (form significantly greater than expected value to significantly less or nothing).

[Eveofwar]

Im familiar enough with them, Im just not bothered. Partially because I dont earn my living from mining, partially because since I joined bitminter, its been offline for all of 15 minutes. Ive only recently configured a failover at all, just in case bitminter would could under attack from DDoS, which likely would last longer than 15 minutes; P2Pool seems like an excellent alternative in case of massive DDoS attacks on pools, so Im not sure what your point is.

They use PPLNS, which is going to rape your earnings when you leave early.

Why don't you just solo mine then, if you aren't worried about your return and concerned so much with downtime ?

That 15 minutes spent on Ars or ABCPool is much more beneficial to you, but do as you please.

[Aexoden]

Yeah. P2ppol is PPLNS which would brutally punish you for leaving during a block (much like Bitminter).


Backup pool is likely to be rarely uses so it should be a PPS or SMPPS or ESMPPS.  You could also use Prop pool but given the income you lose to intentional hoppers and the fact there are lots of good PPS based pools I wouldn't.  Score based and PPLNS would be the worst if you will be using them for variable amounts of time.

The expected value of a share under PPLNS is exactly the same as the expected value of a share under *PPS (ignoring the possibility of the collapsing SMPPS pool for the moment). With PPLNS there will be more variance in what each share actually gets paid (sometimes nothing, sometimes once, sometimes several times), but on average, the payout will be the same. There's no good reason to avoid using a PPLNS pool as a failover unless you really don't like any sort of variance.

[P4man]

They use PPLNS, which is going to rape your earnings when you leave early.

Why don't you just solo mine then, if you aren't worried about your return and concerned so much with downtime ?

That 15 minutes spent on Ars or ABCPool is much more beneficial to you, but do as you please.

Like I said, I didnt configure the failover to protect me from 15 minutes every 2 months, its there if bitminter comes under a DDoS attack; I dont expect it to recover until the attack stops. By that time a pool like slush will have solved many dozens of blocks and whatever I would lose compared to another pool seems statistically irrelevant. p2pool is a good alternative for the simple reason it can not be ddos'd. If even a small pool like bitminter comes under attack, there is fair chance all of the other pools will already be down.

[Eveofwar]

They use PPLNS, which is going to rape your earnings when you leave early.

Why don't you just solo mine then, if you aren't worried about your return and concerned so much with downtime ?

That 15 minutes spent on Ars or ABCPool is much more beneficial to you, but do as you please.

Like I said, I didnt configure the failover to protect me from 15 minutes every 2 months, its there if bitminter comes under a DDoS attack; I dont expect it to recover until the attack stops. By that time a pool like slush will have solved many dozens of blocks and whatever I would lose compared to another pool seems statistically irrelevant. p2pool is a good alternative for the simple reason it can not be ddos'd. If even a small pool like bitminter comes under attack, there is fair chance all of the other pools will already be down.

Your method of thinking if fatally flawed.  Best of luck to you.

[Aexoden]

That isn't true. PPLNS is punitive unless you stay for the full N (number of shares defined by the pool).  With PPLNS you acheive full value by staying longer than the N value.  Short random periods of activity will net you a tiny fraction of your equitable share.

Trust me I poolhopped for 3+ months.  PPLNS is punitive to pool hoppers.  If you are using it as a backup pool you are essentially a dumb/blind poolhopper (you have no control over when you hop in or out).

It isn't punitive to anyone. Over time, everyone will receive an equal payout corresponding to the number of submitted shares. The only effect of being an intermittent miner (such as a pool hopper) is that your payouts will vary more (sometimes less, sometimes more). For instance, if N is equal to the difficulty, a given share will be paid a number of times with the following probabilities:

• No payouts: 36.79%
• 1 payout: 36.79%
• 2 payouts: 18.39%
• 3 payouts: 6.13%
• 4 payouts: 1.53%
• 5 payouts: 0.31%

The probability of six or more payouts is there, but shrinking very quickly. The weighted average of the samples I gave is 0.9963 payouts per share. If I included 6 payouts and more, the average would be 1 payout per share. No matter what, on average, you will receive the same payout for your work on a PPLNS pool as you will at a PPS pool (assuming equal fees).

Yes, your shares may suddenly become worthless if more than N shares pass by without a block being found, but there is no way to predict when this will happen, and 63% of the time a share will be paid at least once.

In the case of the short bursts of activity, you will still receive your equitable share for the comparatively few shares you submitted, but because of the risk of not being paid at all, again, the variance will be higher. In those 31 out of 10000 instances when your short burst of work is paid out five times, you'll be making back what you "lost". Of course, this is all on average, and if you're looking at periods as short as a week or three, you may not feel you're getting your fair share. If variance bothers you, use a PPS pool. However, there remains no long-term mathematical reason to avoid PPLNS as a backup.

[DrHaribo]

Perfect explanation, Aexoden.

Averaged out over time zero-fee PPLNS pays the same as zero-fee PPS.

Yes, PPLNS has higher variance than some other payment methods. I still chose it as I believe it strikes a good balance. It gives miners fair payments without risking the pool going bankrupt.

[conspirosphere.tk]

A suggestion for the Live stats: how about showing my % of work done in the current block/shift, and the number of proofs of work accepted by the server in the current block?

[DrHaribo]

A suggestion for the Live stats: how about showing my % of work done in the current block/shift, and the number of proofs of work accepted by the server in the current block?

Thank you, that's a great idea!  Added to my list.

[btc_artist]

The only thing keeping me from signing up and trying BitMinter is having OpenID shoved down my throat.  Have the option for OpenID, but have a local signup option as well.  (You still have to track the accounts internally anyway, so adding a non-OpenID signup shouldn't be that bad).

[DeathAndTaxes]

The only thing keeping me from signing up and trying BitMinter is having OpenID shoved down my throat.  Have the option for OpenID, but have a local signup option as well.  (You still have to track the accounts internally anyway, so adding a non-OpenID signup shouldn't be that bad).

What is wrong with OpenID?  The purpose is to remove the responsibility of safeguarding passwords properly from the website and to reduce the number of passwords users need to remember (and prevent password duplication).  Adding internal passwords kinda defeats the entire purpose of OpenID.

[allten]

Maybe it has already been covered in this thread, but has bitminter considered doing merged mining?
I wouldn't mind having some NMC to dump on the market. It's use is over hyped in my opinion.
With the ability to store anything in the block chain, Bitcoin could easily evolve to cover an entire host
of solutions such as this.

[Turbor]

Maybe it has already been covered in this thread, but has bitminter considered doing merged mining?
I wouldn't mind having some NMC to dump on the market. It's use is over hyped in my opinion.
With the ability to store anything in the block chain, Bitcoin could easily evolve to cover an entire host
of solutions such as this.

DrHaribo is working on it