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News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
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Author Topic: Zero fee Bitcore pool  (Read 93 times)
juhakall
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January 10, 2018, 12:29:06 AM
 #1

As the biggest Bitcore pool (bitcorepool.cc) has grown to over 33% of the network hashrate, we really need to make it less centralized. I encourage everyone to join my pool at http://psychedelic.fi, where the fees are as low as possible. Currently this is 0%, but if it gets bigger I won't be paying the transaction fees myself forever, so it might have to be raised to 0.1% at some point. If bitcorepool.cc is the go-to pool today, and UMine is for those who don't want to pay fees, then my pool is for those who REALLY don't want to pay fees and don't mind a bit of variance.

EDIT: Pool isn't zero fee anymore, and most of the hashrate is missing. Difficulty got too high and bitcorepool.cc is still going strong :/
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ypsi
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Bitcore (BTX) - The Future is Now


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January 10, 2018, 12:11:24 PM
 #2

I can encourage miners to give this pool a try. Having the net hashing power spread out on different pools is important for any coin.

--ypsi

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January 11, 2018, 08:44:01 PM
 #3

Just found our 8th block after 2 days of unlucky mining. Now is a good time to hop in!
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January 12, 2018, 04:51:24 AM
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The pool got a mysterious incoming transaction this monday; it turned out to be an airdrop, even with this small hashrate we got lucky. Maturation period is set to 101 blocks, default in yiimp. Perhaps a smaller setting might also work?

In any case, this lucky finding made me think of the expected value of airdrop rewards for pools. I haven't yet checked the blockchain, but surely the big pools have registered their generation addresses. How many BTX could bitcorepool.cc expect to make from airdrops, for instance? Would this be enough to cover a -1% fee?

Since I'm too busy and math was never my specialty, I'm going to find it out by lowering the fee on my pool to -1%. Welcome!


EDIT: Just had to do a quick calculation. In Bitcore, 101 blocks takes around 2.5% of a week. 5% of 2.5% is 0.125%. Does this mean that (disregarding transaction fees) a -0.125% fee would be sustainable with 5% weekly airdrops? Well, I'll go with -1% for a while anyway Wink
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January 13, 2018, 04:54:39 AM
 #5

Running at 400 MH/s now, -1% fee is still in effect. I'll change it to -0.1% after we hit 1 GH/s.
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January 14, 2018, 12:34:58 AM
 #6

I lost count of the blocks already, as it should be. My pool is now rank 11 on the Bitcore top miner list Cheesy. I'm thinking about lifting the 101 block waiting period for found blocks. Can I simply send one block reward + little extra to the pool wallet? I guess we'll have to find out.

My intention is to reduce the waiting period after a block is found, so miners get paid more quickly for their work. Next on the roadmap is an UI overhaul and a better payout system (probably PPLNS).
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January 16, 2018, 02:57:53 PM
 #7

Pool rewards are stabilizing around expected levels. We just hit 50 BTX in total payouts!



I intend to add respective graphs in BTX to the graphs page. At least I'm not dumping my BTX as they are mined, so the conversion to BTC in those graphs makes it less useful to me.
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January 19, 2018, 02:07:02 AM
 #8

I've been more active on the Facebook group than here, so I forgot to mention that block 119635 got completely remove from everyone's payouts because of my mistake. Fixing this is a good hands-on yiimp lesson to me, I'll try to be quick. I'll keep the -1% going for a bit longer too, 1 GH/s is just around the corner! Smiley

EDIT: It literally happened while I was writing this post, 1.3 GH/s now. Thanks to all the new miners!
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January 19, 2018, 04:40:09 AM
 #9

I managed to calculate the earnings and get the block back on the list, but now it's stuck as immature. I'll see what can be done about it, wouldn't want to send this manually as I'm so close to keeping the stats intact too. After I get that sent we'll see how long the 3.225 BTX I sent to the pool lasts with a -1% fee. If it starts diminishing too quickly I'll adjust it a bit, staying in the negative.

EDIT: The block has now been paid out
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January 23, 2018, 06:31:15 PM
 #10

I have implemented a time-based PPLNS system. It's set to look at the last 48 hours of shares when a block is found and pay based on that. I'm pretty sure the time window has to be tuned a bit, or even be changed to a difficulty based one. But at any setting, this should effectively neutralize any pool hopping attempts.

EDIT: This was switched back to proportional due to lack of interest on the pool. I'm currently mining BitSend on the same site, and proportional seems to work out better at this stage.
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