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Author Topic: Discussion to explore a BTC Talk GB Forum Specific Mining Pool  (Read 1002 times)
DyslexicZombei
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October 30, 2013, 07:03:38 AM
 #1

This is a thread to discuss the pros and cons of starting and running a Group Buys Forum specific Mining Pool.

bobsag3 is willing to pay for the domain name and hosting fees, as well as care for the GB Mining Pool server itself. We also seem to have quite a bit of software support with an amazing amount of software programming skill diversity for something like this within our own co-op.

In return, we'd have our own zero fee Mining Pool that will be tailored for Group Buy Coordinators and Group Buyers (as in everyone has their own dashboards for their own miners). Group Buy Coordinators/Organizers who chose to use this GB Forum Pool would benefit from zero  fee mining pool services and our co-op's resources and willing programmers.


=================================================================================================================

Please discuss your concerns or interest in supporting such a GB specific Mining Pool. Also, please provide suggestions that may help with things like: security, anti-DDOS measures, maximizing payouts, etc., etc.

Of course: we can have failover pools elsewhere but it might be nice to have a mining pool to call our own as a primary mining pool option, with all of the advantages and benefits that can be associated with it if it's tuned/tweaked just for us.

=================================================================================================================


I can likely pledge our co-op's entire hashrate to this if there's enough interest, which is currently at 8.2-11TH/s total ordered miners, and accounting for overclocking above nominal hashrate. That: combined with -Redacted-, bobsag3 and if all his customers signed on, we'd likely be up to about 30-40TH/s right there, as the start of a GB specific Mining Pool.

Please keep in mind that the Bitcoin protocol is meant to be decentralized, and not centered in a handful of giant pools with all the risks of 51% attacks that could entail.

Thoughts about the whole concept?

Cheers,
DZ
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HellDiverUK
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October 30, 2013, 09:03:47 AM
 #2

Do you really think we need ANOTHER pool?  The big pools are big because they work.

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Vanderi
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October 30, 2013, 09:20:45 AM
 #3

This is easily a great idea, especially since it is run by known movers and shakers from our own little part of the universe - the btct gb sub. The skill and knowledge available are - and already have been - considerable, and the spirit with which it would be run would be just a little bit more than strictly business.

ground frickin' floor of awesomeness. An original wtf'er.
Noitev
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October 30, 2013, 10:42:18 AM
 #4

Love the idea.

You can integrate the hasrate under the profile pic Tongue

also makes it a lot easier for mining dividends and such

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October 30, 2013, 02:35:10 PM
 #5

This is a thread to discuss the pros and cons of starting and running a Group Buys Forum specific Mining Pool.

bobsag3 is willing to pay for the domain name and hosting fees, as well as care for the GB Mining Pool server itself. We also seem to have quite a bit of software support with an amazing amount of software programming skill diversity for something like this within our own co-op.

In return, we'd have our own zero fee Mining Pool that will be tailored for Group Buy Coordinators and Group Buyers (as in everyone has their own dashboards for their own miners). Group Buy Coordinators/Organizers who chose to use this GB Forum Pool would benefit from zero  fee mining pool services and our co-op's resources and willing programmers.


=================================================================================================================

Please discuss your concerns or interest in supporting such a GB specific Mining Pool. Also, please provide suggestions that may help with things like: security, anti-DDOS measures, maximizing payouts, etc., etc.

Of course: we can have failover pools elsewhere but it might be nice to have a mining pool to call our own as a primary mining pool option, with all of the advantages and benefits that can be associated with it if it's tuned/tweaked just for us.

=================================================================================================================


I can likely pledge our co-op's entire hashrate to this if there's enough interest, which is currently at 8.2-11TH/s total ordered miners, and accounting for overclocking above nominal hashrate. That: combined with -Redacted-, bobsag3 and if all his customers signed on, we'd likely be up to about 30-40TH/s right there, as the start of a GB specific Mining Pool.

Please keep in mind that the Bitcoin protocol is meant to be decentralized, and not centered in a handful of giant pools with all the risks of 51% attacks that could entail.

Thoughts about the whole concept?

Cheers,
DZ

Based on my pool use at bitminter and cex.io   you need 5% - 10%  of the network to be any good.  

so we need to handle 210th minimum  or variance sucks.  

 clock bitminter clock cex.io   and see what I mean.

As a complete aside. 

   I like the idea of a pool that is usa based.. I am usa based and if BTC becomes a fully legit product  paying taxes would be a lot easier to do if all my action is usa based. 
 I know lots of people don't want to pay the tax man, but I ask you  if you make 10k in a year and give 1.5k to Uncle Sam  with no worries  isn't that a lot better then wondering if  you get found out because you did not report.  I did my return for last year and I report all income Some of my btc was overseas and it made my return harder to do.   I mined at bitminter last year.  So  they are in the Netherlands making my return a little hard to do.  If I am all usa based My tax returns would be easier.   


Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
I mine alt coins with https://simplemining.net I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
mrm0
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October 30, 2013, 03:01:38 PM
 #6

My biggest concern is variance. It will be awful. Next concern is security. It requires constant vigilance and having expert staff actively monitoring for unusual patterns 24/7. This does not come cheap.

Another option is to join an already existing pool which is not among the largest and has mechanisms for automatic share distribution.

1BUcKJVz5n34VwuiyiLtPud1PGn3BLkcPb  :-)
floatyfish
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October 30, 2013, 05:50:12 PM
 #7

I want to second the concerns about variance and security. Also, will we be able to keep up with the tremendous growth that's happening? Rumors about ASICminer have them putting huge amounts of hashing power online, so we would continually have to keep buying machines in order to just keep our percentage steady.

Has anybody thought about teaming up with another GB on the forum in order to increase the hash rate? This would require coordination with people outside of the group, but it would be an easy way to bump the hash rate up.

If you feel like donating: 1NtgJf4znCsA5GJDCbqtowHL2143WyqLkC
thomas_s
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October 30, 2013, 05:59:36 PM
 #8

I want to second the concerns about variance and security. Also, will we be able to keep up with the tremendous growth that's happening? Rumors about ASICminer have them putting huge amounts of hashing power online, so we would continually have to keep buying machines in order to just keep our percentage steady.

Has anybody thought about teaming up with another GB on the forum in order to increase the hash rate? This would require coordination with people outside of the group, but it would be an easy way to bump the hash rate up.
This post is to discus all the GBC's from the GB forum to make their own pool. Not just one GB.
floatyfish
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October 30, 2013, 06:55:51 PM
 #9

I want to second the concerns about variance and security. Also, will we be able to keep up with the tremendous growth that's happening? Rumors about ASICminer have them putting huge amounts of hashing power online, so we would continually have to keep buying machines in order to just keep our percentage steady.

Has anybody thought about teaming up with another GB on the forum in order to increase the hash rate? This would require coordination with people outside of the group, but it would be an easy way to bump the hash rate up.
This post is to discus all the GBC's from the GB forum to make their own pool. Not just one GB.

Ah, ok. I guess I misunderstood the initial question asked. In that case I say that we should definitely look into it, but that it would require a fair amount of people to put their trust in an unproven pool.

If you feel like donating: 1NtgJf4znCsA5GJDCbqtowHL2143WyqLkC
madpoet
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October 30, 2013, 07:09:43 PM
 #10

I guess on the positive side the major GB players here are all fairly well established people and it should be easier to extend a level of trust.
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October 30, 2013, 07:45:57 PM
 #11

I like the idea, especially if the group buy organizers could also handle payouts to their shareholders over it in a comfortable way.

Yeah, well... I'm gonna go build my own blockchain, with blackjack and hookers. In fact, forget the blockchain!
bobsag3
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October 30, 2013, 08:03:40 PM
 #12

I like the idea, especially if the group buy organizers could also handle payouts to their shareholders over it in a comfortable way.
Exactly one of the primary reasons- takes the payment means out of our direct hands... in some ways safer than letting someone directly handle the payouts.
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