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Author Topic: [100 Ghps] "Catch 22 removal" service for new pool operators  (Read 3366 times)
Vladimir
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July 12, 2011, 08:34:19 AM
 #1

It is difficult these days to start a new pool. There is no reason to join a new pool if it does not at least solves a block or two per day even if otherwise the terms offered are more than reasonable.

I have about 50-100 Ghps hashing capacity which I can deploy to any pool. Should you wish to get some kickstart for your new pool I can help you.

The starting price is very modest 10%. However, it is a subject to competitive bidding and depending on market conditions could me much higher at times.

Once the service is booked and final price is set, this is how it works.

1. You send me some bitcoins as deposit.

2. I point up to 100 Ghps to your pool (subject to availability and agreed on case by case basis).

3. For every valid share I submit your deposit is reduced by fair per share price + 10% + (% of your pool inefficiency - 1%)

Once your deposit is fully repaid by submitted shares the service stops.

If anyone is interested in principle, please PM me with questions or bids.


Availability: most available capacity is booked.

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Xenland
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July 12, 2011, 12:15:45 PM
 #2

I'm very interested, but a modest 10% of what? I don't understand your pricing
NetTecture
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July 12, 2011, 03:21:34 PM
 #3

I'm very interested, but a modest 10% of what? I don't understand your pricing


Simlpe: he wants fair share price + 10%. That simple. Decent deal for a nw pool trying to get some people.
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July 12, 2011, 08:02:09 PM
 #4

Almost makes me want to start a new pool just to bid on his offer.
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July 12, 2011, 09:25:32 PM
 #5

Call me dumb but why include the 10% and not just say a resonable pay-per-share?

Also what is a resaonable price to purchase enough shares to find a block(obviously not garunteed but just an estimate)? Or is that bad bussiness to ask for such a thing on the thread.
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July 13, 2011, 10:37:09 AM
 #6

Call me dumb but why include the 10% and not just say a resonable pay-per-share?

Also what is a resaonable price to purchase enough shares to find a block(obviously not garunteed but just an estimate)? Or is that bad bussiness to ask for such a thing on the thread.
50BTC+10% (55BTC) should be enough shares to find a block, kind of obvious when you think about it hehe.

So you are basically paying 50+5BTC (in average) to find your (first) block. It could be MUCH higher or lower though, it's all about luck.
bcpokey
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July 14, 2011, 12:56:45 AM
 #7

It might make more sense to offer a graduated plan. Say a new pool operator wants to lease 50GH/s to look like they're not just crap, and they pay 110BTC to have you hash for roughly 2 blocks. So now they have 50GH/s to their name to attract people, and they attract 35GH/s of other people to mine for them with their now 85GH/s. Let's say they are lucky enough to have their variance be low and they find 2 blocks in the 2 days or so you've allotted them, you go your merry way with 110BTC + 59BTC (- whatever fees) and suddenly the pool only has 35GH/s.

People may think something terrible has happened, time to abandon ship.

More of a pain in the butt, but also seemingly more attractive to also a "come down" option, to bleed away hashing power rather than abrupt drop. I have no real suggestion as to the execution of that, for you to figure out.
Vladimir
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July 14, 2011, 03:20:46 AM
 #8

bcpokey, fair comment.

The deal is not set in stone, I am quite happy to lease out smaller amounts than 50 Ghps, particularly when taken for longer periods of time (so that I do not have to switch small amounts here and there every 5 minutes).

The problem could be when someone bids higher amount for the service and in this case capacity will go to the higher bidder and I will not be able to renew at old prices.

I am still developing the service both on software and business side, hence everything is negotiable.

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error
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July 14, 2011, 03:26:01 AM
 #9

bcpokey, fair comment.

The deal is not set in stone, I am quite happy to lease out smaller amounts than 50 Ghps, particularly when taken for longer periods of time (so that I do not have to switch small amounts here and there every 5 minutes).

Indeed. If I were starting a pool, I would find 10GH/s for a couple of weeks much more attractive than 50GH/s for a few days. (But I'm not starting a pool; I like having spare time!)

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NetTecture
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July 14, 2011, 05:12:27 AM
 #10

Seriously, if I were to start a pool I would find anything below 250 or so giga bad to start - and vladimir may be able to add 50gb for the mere price of 5gb of my capacity. I will never understand why people mine in a pool that does not solve a block on avereage every 6 hours. The variance will jsut totally kill you. Whoever mines in one of those micro pools - wants thrill, not money.
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July 14, 2011, 05:37:02 AM
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Seriously, if I were to start a pool I would find anything below 250 or so giga bad to start - and vladimir may be able to add 50gb for the mere price of 5gb of my capacity. I will never understand why people mine in a pool that does not solve a block on avereage every 6 hours. The variance will jsut totally kill you. Whoever mines in one of those micro pools - wants thrill, not money.

You should have been around before pools, when everyone was solo mining and we all found blocks every few days. And pizzas cost 10,000 BTC.

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sabe
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July 14, 2011, 05:40:09 AM
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Seriously, if I were to start a pool I would find anything below 250 or so giga bad to start - and vladimir may be able to add 50gb for the mere price of 5gb of my capacity. I will never understand why people mine in a pool that does not solve a block on avereage every 6 hours. The variance will jsut totally kill you. Whoever mines in one of those micro pools - wants thrill, not money.

You should have been around before pools, when everyone was solo mining and we all found blocks every few days. And pizzas cost 10,000 BTC.

If you found only a block every few days, it would take 2 years to accumulate 10,000 BTC for that pizzaa  Grin

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error
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July 14, 2011, 05:46:28 AM
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Seriously, if I were to start a pool I would find anything below 250 or so giga bad to start - and vladimir may be able to add 50gb for the mere price of 5gb of my capacity. I will never understand why people mine in a pool that does not solve a block on avereage every 6 hours. The variance will jsut totally kill you. Whoever mines in one of those micro pools - wants thrill, not money.

You should have been around before pools, when everyone was solo mining and we all found blocks every few days. And pizzas cost 10,000 BTC.

If you found only a block every few days, it would take 2 years to accumulate 10,000 BTC for that pizzaa  Grin

I only had one CPU. Even in the earliest days there were people running multiple rigs.

And anyway, you're right; the 10,000 BTC pizzas dated back to the difficulty 1 days.

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Xenland
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July 14, 2011, 10:48:17 PM
 #14

So who gets to keep the mined BTC from your miners?
or thats why I pay you per share?
Vladimir
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July 15, 2011, 06:20:04 AM
 #15

So who gets to keep the mined BTC from your miners?
or thats why I pay you per share?

You get to keep BTC mined. That's why I take my payment upfront and per share.

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July 16, 2011, 01:04:00 AM
 #16

i don't understand the point of this. if a pool offered a no fee PPS system, people will be all over it within a day. why should a pool owner pay you 10% more? the only thing you're really offering is an "instant" 100 GH/s, rather than a 1-2 day delay.

It is pitch black. You are likely to be eaten by a grue.

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NetTecture
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July 16, 2011, 05:17:35 AM
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i don't understand the point of this. if a pool offered a no fee PPS system, people will be all over it within a day. why should a pool owner pay you 10% more? the only thing you're really offering is an "instant" 100 GH/s, rather than a 1-2 day delay.

You need to use your brain more.

First, there is a PPS pool around that takes no fees and it is NOT taking over the world.

Second, he offers this as a servce which can be "hidden" from the public.

It is basically something like a marketing operation for a starting pool.

The price may not even be expensive for a large operator. If I ahve 100gig myself, I can double that for my own pool JUST giving up 10% of my own shares. Does it make sense? I do not know. Can, can not. I really dont wnt to start a pool unless I have a lot lot lot more power than I need Wink
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July 16, 2011, 09:17:23 PM
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i don't understand the point of this. if a pool offered a no fee PPS system, people will be all over it within a day. why should a pool owner pay you 10% more? the only thing you're really offering is an "instant" 100 GH/s, rather than a 1-2 day delay.

It makes perfect business sense even if you only keep transaction fees as the pool admin, once your pool has been at a stable 100-150ghash/s for a few weeks, it's bound to grow and attract new miners.

When you achieve 300-500ghash/s, you no longer need Vladimirs service, and after he leaves you have a 400ghash/s pool for life that just keeps growing & growing if all goes well on your end (low stales, prompt payments) & if you have modest fees like 0.5% to 1% you'll start seeing profits pretty soon.

The smaller your pool is at the current & upcoming difficulties, the more chance that variance will totally kill your pool in the short term.

Like someone said above, rational small and medium sized miners (100-1000mhash/s) will no longer opt for small pools unless they just like the thrill.
Variance will not even out within the 2 weeks a difficulty level lasts, in the worst case you may not even see a block for 2 weeks (maybe even a month) at the 10-30ghash/s you accumulated naturally.

If I had a pool I'd buy the service instead of only using my own (15ghash) hashrate to kickstart the operation. Beats spending $50k+ additional dollars on hardware getting to that hashrate myself.

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NetTecture
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July 16, 2011, 10:51:48 PM
 #19

Correct except the last sentence Wink Still makes sense to invest money Wink
fitty
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July 17, 2011, 05:50:23 AM
 #20

i don't understand the point of this. if a pool offered a no fee PPS system, people will be all over it within a day. why should a pool owner pay you 10% more? the only thing you're really offering is an "instant" 100 GH/s, rather than a 1-2 day delay.

A few people explained, I'll be the 3rd. =)

Starting a pool right now is very hard. No one wants to join a small pool because it might take days or weeks to find a block. That's days/weeks with no return. You can join a big pool and get paid 6-10 times a day. It ends up being roughly the same money but the bigger pools are much more steady and less variance. Which is why people prefer the big pools.

So if you WANT to start a new pool, you need at least 50 GHs otherwise people won't even bother. Vladimir is offering to help you start a NEW pool which gives you a fighting chance to attract new miners. Ideally if you grow after a few weeks you won't need Vladimir anymore.

Without a lot of hasing power yourself or a bunch of friends with a ton of hashing power you just have no chance at starting a new pool. The only real chance nowadays is to hire a big time miner to help get you going. The price is actually extremely cheap if you actually grow into a popular pool. =)
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