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Author Topic: Why hasn't a pool owner done this?  (Read 1427 times)
Jude Austin
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November 03, 2013, 07:43:57 PM
 #1

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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November 03, 2013, 07:49:36 PM
 #2

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

maybe because all ALT SHA coins are even less profitable then BTC?

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RoadTrain
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November 03, 2013, 07:57:11 PM
 #3

Because doing this requires hard forks in these coins, so a pool owner must also convince the majority of users to accept the change.
Jude Austin
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November 03, 2013, 07:57:16 PM
 #4

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

maybe because all ALT SHA coins are even less profitable then BTC?

I understand that but if you could mine multiple coins at once using the same hash power, then you only increase profitability.


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Jude Austin
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November 03, 2013, 07:58:25 PM
 #5

Because doing this requires hard forks in these coins, so a pool owner must also convince the majority of users to accept the change.

If you told people they could mine BTC and say ZET at the same time, I am sure they would have no problem accepting the changes.

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eleuthria
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November 03, 2013, 07:59:56 PM
 #6

To add merged mining, the altcoin requires a hardfork.  Additionally, once it's added, you're guaranteed said altcoin will be WORTHLESS.  Merged mining reduces the value of coins, period.  A bunch of people with no interest in the coin will sell them at whatever price some idiot is willing to pay.  Meanwhile, the difficulty shoots through the roof at the same time.  The coin would be dead in under a month.

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November 03, 2013, 08:00:41 PM
 #7

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

maybe because all ALT SHA coins are even less profitable then BTC?

I understand that but if you could mine multiple coins at once using the same hash power, then you only increase profitability.


Barely. These coins are worth nothing, if you start merge mining then, you'll increase difficulty and the profitability increase won't even cover costs of running additional software. That's why almost no pools mine anything except for NMC.
Jude Austin
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November 03, 2013, 08:03:22 PM
 #8

To add merged mining, the altcoin requires a hardfork.  Additionally, once it's added, you're guaranteed said altcoin will be WORTHLESS.  Merged mining reduces the value of coins, period.  A bunch of people with no interest in the coin will sell them at whatever price some idiot is willing to pay.  Meanwhile, the difficulty shoots through the roof at the same time.  The coin would be dead in under a month.

Very true.

I guess I never took the massive power of BTC in consideration when merging with another coin.

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November 03, 2013, 08:26:44 PM
 #9

Thanks for the input everyone!

I got the answer I was looking for.

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November 03, 2013, 11:02:38 PM
 #10

Hell, I figured something like that would be obvious

Dacentec Dedicated Servers (Lenoir, NC, USA) from $25/mo & Time4VPS Storage VPS' (Vilnius, Lithuania) from €18/qtr & Hetzner's serverbidding, from ~€20/mo -- had bitcoin nodes & p2pool (dacentec, hetzner) for several years on these.  Only two are affiliate links too, kek! -------  Feel free to join my G2A Goldmine Pyramid Scheme Team, or possibly even buy a Steam game from there.  Maybe.
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November 03, 2013, 11:06:30 PM
 #11

well, i've got a query as well

Why does your pool have so many miners with such a horrible efficiency rate?  Both in BTC and LTC.  BTC is 75%, LTC is 80%.  Not only that, but there's a 2% fee, when if you needed to use a remote p2pool server, you have about fifty to choose from on p2pool-nodes.info .. does charging a 2% fee incur some measure of legitimacy that being free does not?    hmm, I think I may be on to something there

oh, you should also upgrade your version of bitcoind, to get rid of those 5s latency times

Dacentec Dedicated Servers (Lenoir, NC, USA) from $25/mo & Time4VPS Storage VPS' (Vilnius, Lithuania) from €18/qtr & Hetzner's serverbidding, from ~€20/mo -- had bitcoin nodes & p2pool (dacentec, hetzner) for several years on these.  Only two are affiliate links too, kek! -------  Feel free to join my G2A Goldmine Pyramid Scheme Team, or possibly even buy a Steam game from there.  Maybe.
Jude Austin
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November 04, 2013, 02:20:17 AM
 #12

well, i've got a query as well

Why does your pool have so many miners with such a horrible efficiency rate?  Both in BTC and LTC.  BTC is 75%, LTC is 80%.  Not only that, but there's a 2% fee, when if you needed to use a remote p2pool server, you have about fifty to choose from on p2pool-nodes.info .. does charging a 2% fee incur some measure of legitimacy that being free does not?    hmm, I think I may be on to something there

oh, you should also upgrade your version of bitcoind, to get rid of those 5s latency times

I'll be honest with you I think it's the domain name.

And as for efficiency,  it looks like the entire P2Pool network has the same.

And as I have said before about any pool, don't expect a pool that charges no fee to be around for ever.

Look in the past, especially with PPS pools, any pool that was "free" no longer exists.

2% is nothing compared to some other pools, and I think it is more than fair since P2Pool is a resource hog.

I actually lose money on a per month basis hosting the website, even with the fee.

On to something?

Oh you got me!

I actually put guns to peoples heads to mine at P2Pool.org, that's my trick!

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November 27, 2013, 11:56:56 PM
 #13

My P2pool is free Smiley

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November 28, 2013, 11:30:56 PM
 #14

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

Bitparking does it!!!

I assume their "simple" website without pretty dashboard like BTCguild, Bitminter etc. is keeping them small.

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November 28, 2013, 11:40:30 PM
 #15

Why hasn't a pool owner modified SHA coin clients so that all SHA coins can be merged mined at the same time?

There are a lot of very intelligent people in this forum and it appears that this is a feasible task.

So why hasn't it been done?

Bitparking does it!!!

I assume their "simple" website without pretty dashboard like BTCguild, Bitminter etc. is keeping them small.

Bitparking only does it for a handful.  There's a lot of others.  My assumption is that's what this thread was about.  Specifically the few SHA256 coins which are "almost" worth as much as BTC.  Of course, the second they become merged minable they'll drop to virtually worthless very quickly, which is why they don't allow it.

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November 29, 2013, 02:06:42 AM
 #16

Because doing this requires hard forks in these coins, so a pool owner must also convince the majority of users to accept the change.
s/majority/all remaining users/

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