[ANN]Create a merge mined Pool for Devcoin, get 4.32 BTC ($524) inquire within

[smeagol]

I am here to announce that Devcoin, a coin supporting open source developers, is offering a bounty for a merge mined pool for devcoin.  If you do, you will receive 64 generation shares, each worth approximately 225,000 Devcoins.  At the current rate of exchange, 30 satoshis per coin, that is worth:

64 generation shares * 225000 coins each * 0.0000003 = BTC4.32
4.32 * 130$/BTC = $524.16

Requirements for pool for bounty:
-1 month of operation and payouts
-at least 1 BTC of income exchanged to devcoin over the one month period
-at least 0.5% of BTC gross exchanged before miner payout

For a second pool, you receive 56 generation shares, which is worth $458.64 or BTC3.528.

To claim the bounty, simply post on the Devcoin thread with the link to your pool.  (https://bitcointalk.org/index.php?topic=233997.0)

For more information, see here: http://devtome.com/doku.php?id=devcoin_bounty_now#pool

To see the web wallet bounty, click here: https://bitcointalk.org/index.php?topic=295507

Remember that you can claim two bounties!  So you ARE allowed to make a joint pool-web wallet for even more devcoins!  

[smeagol]

reserve

[FinShaggy]

Awesome. This would probably boost round speed like crazy.

[Hydroponica]

Why would anyone ever want to mine just DVC, when they can mine DVC and BTC, at the same time?

[smeagol]

Why would anyone ever want to mine just DVC, when they can mine DVC and BTC, at the same time?

Merge mined pools are eligible, but at least 0.5% of the BTC must be converted to DVC to be paid out to the miners.

For example, if your pool mines 100 BTC and 50,000 DVC, then 0.5 BTC needs to be converted to devcoins, and then 99.5 BTC and the 50k DVC + 0.5 BTC in DVC would be divided among the miners.

[smeagol]

Awesome. This would probably boost round speed like crazy.

Yeah, we might have to increase the number of blocks per round even! 

[ahmed_bodi]

1 quick question. instead of bounties like this why not have one for updating the darn client? its one of the essentials for a functional pool

[ahmed_bodi]

Got a pool online. dvc.crypto-expert.com im currently mining on it

GetWork Only. 0 fees until i patch the devcoin daemon to support GBT where it will be 1% after my 1 week promotional period.

[smeagol]

Got a pool online. dvc.crypto-expert.com im currently mining on it

GetWork Only. 0 fees until i patch the devcoin daemon to support GBT where it will be 1% after my 1 week promotional period.

Nice

[shakezula]

The bounty for this should go to the Merged Mining pool. Its already producing a sizable share of the DVC in the wild.

Looking at the current diff, anyone pointing hashes at any new pool is going to be waiting a VERY long time to get any DVC out of it unless they have some huge hashpower. Given the size of the bounty, I'd say don't pay out any bounties on pools until they've produced a substantial chunk of DVC and have long term support.

Also given the steady downward decline in the price of DVC and the lack of buy support at the current price to produce said BTC level, the title of this thread is somewhat misleading and I surmise will only lead to a few flash-in-the-pan pools rather than any of real significance.

[smeagol]

The bounty for this should go to the Merged Mining pool. Its already producing a sizable share of the DVC in the wild.

Looking at the current diff, anyone pointing hashes at any new pool is going to be waiting a VERY long time to get any DVC out of it unless they have some huge hashpower. Given the size of the bounty, I'd say don't pay out any bounties on pools until they've produced a substantial chunk of DVC and have long term support.

Also given the steady downward decline in the price of DVC and the lack of buy support at the current price to produce said BTC level, the title of this thread is somewhat misleading and I surmise will only lead to a few flash-in-the-pan pools rather than any of real significance.

Good point.  Ahmed, could you make your pool merge mined, per the requirements? (They are in the edited OP)

Thanks for the quick pool though!

[FinShaggy]

Awesome. This would probably boost round speed like crazy.

Yeah, we might have to increase the number of blocks per round even! 

Nah, I think the increase wait in pay will work to remedie that.

[ahmed_bodi]

I do find t unfair that the requirements were changed for one complaint. Merged mining would require a whole rewrite in code which was what i was planning on using the funds for. Since my
The current frontend which ive created for merged mining is definitly not fit for production use imo so in that case i guess im out. A stable pool is better than a buggy one which is unfit for use. Another draw back is the devcoin clients which are based on ancient code so it becomes harder to implement. a talk with doublec revealed he uses heavily customized sockthing backend and his own custom frontend. Ill keep the pool up incase anyone decides to mine on it. Since there arnt many dvc pools around and the requirements limit the pools further. We all know theres been a bounty for a merged mining frontend for months but no one's filled it cause its so troublesome to implement(ive said that too many times right? )

To shake: actually i can compromise theyre. If i did get the bounty with a 2% fee miners would have no problem mining on a pps pool since they get paid even if i dont get a block.(i only run true pps)

Edit: since i cant currently merge mine im also willing to merge mine on the backend, auto convert and add on the value of those merged mined coins to the block value so say from tomorrow ill double the block reward, exchange and merged mined coins to cover it and anything extra give away as block finder bonus's

[ahmed_bodi]

Why would anyone ever want to mine just DVC, when they can mine DVC and BTC, at the same time?

Merge mined pools are eligible, but at least 0.5% of the BTC must be converted to DVC to be paid out to the miners.

For example, if your pool mines 100 BTC and 50,000 DVC, then 0.5 BTC needs to be converted to devcoins, and then 99.5 BTC and the 50k DVC + 0.5 BTC in DVC would be divided among the miners.

Like this but 100% is converted to dvc and given to miners

[ahmed_bodi]

bump

[Hydroponica]

I just don't get, why anyone would want to convert their BTC, to DVC...

[ahmed_bodi]

^doh, i wont be having btc, the time to find a block with the predicted hashrate we will recieve is 0. I have a few tricks up my sleeve. theres, other coins which can be merged mined alongside

[smeagol]

I do find t unfair that the requirements were changed for one complaint. Merged mining would require a whole rewrite in code which was what i was planning on using the funds for. Since my
The current frontend which ive created for merged mining is definitly not fit for production use imo so in that case i guess im out. A stable pool is better than a buggy one which is unfit for use. Another draw back is the devcoin clients which are based on ancient code so it becomes harder to implement. a talk with doublec revealed he uses heavily customized sockthing backend and his own custom frontend. Ill keep the pool up incase anyone decides to mine on it. Since there arnt many dvc pools around and the requirements limit the pools further. We all know theres been a bounty for a merged mining frontend for months but no one's filled it cause its so troublesome to implement(ive said that too many times right? )

To shake: actually i can compromise theyre. If i did get the bounty with a 2% fee miners would have no problem mining on a pps pool since they get paid even if i dont get a block.(i only run true pps)

Edit: since i cant currently merge mine im also willing to merge mine on the backend, auto convert and add on the value of those merged mined coins to the block value so say from tomorrow ill double the block reward, exchange and merged mined coins to cover it and anything extra give away as block finder bonus's

  Can you PM unthinkingbit about the pool (he is the devcoin master)?  He can check if your pool qualifies, then give you about half, or a quarter, of the bounty, which you can use to make it merge mined,and then you'll get the remainder!