Instant-Payout Mining - BitPenny.com

[OneFixt]

Sorry for the bump, no other way to be notified of new msgs on this thread

Same as TiagoTiago! Need to follow this thread, but the only way is to post 

Please feel free to stick around the BitPenny IRC channel to get news as it comes out.

[Mayeutik]

Yep, I'm also connected on the chan (lainux on irc )

[Ownski]

Why was there a sudden drop in the current btc rate. It was .0012 now its .0008. 33% lower then before? can you explain this?

[Ricochet]

Bitcoin difficulty increased by ~50% on Sunday, thus the payout for the same hashrate decreased by ~50% to compensate.

[Psychoactive]

Hey!!  Not only did the payout decrease, but my balance was adjusted downwards.  That includes work I did at the higher payout rate.  This is theft!

[BitterTea]

Yo

Hey!!  Not only did the payout decrease, but my balance was adjusted downwards.  That includes work I did at the higher payout rate.  This is theft!

You should probably provide some evidence for this allegation.

[BitLex]

indeed, maybe he doesn't know that payout decreases with raising difficulty
and didn't notice that there's 2 servers and also 2 balances.

my leftover sub-bitcent balance on the old server is still there (although i can't withdraw it because its <0.01btc)
and the new server so far works better than the old one.

[OneFixt]

indeed, maybe he doesn't know that payout decreases with raising difficulty
and didn't notice that there's 2 servers and also 2 balances.

my leftover sub-bitcent balance on the old server is still there (although i can't withdraw it because its <0.01btc)
and the new server so far works better than the old one.

The two balances will be reconciled as soon as the new server undergoes enough testing to be considered stable.
If there are no problems, the old server will be shut down within a few days, at which point old balances will be transferred (added) to the new server.

[OneFixt]

BitPenny is back and open to the public!

All balances have been transferred to the new server.

Please make sure that you are using the hostname to connect and not hardcoding the IP.

[Tril]

BTC is not a meaningful unit of rate.  Please update bitpenny.com to publish the actual unit, maybe it's BTC/s, BTC/h, BTC/day or BTC/getwork; I have no idea. Thanks.

[slush]

BTC is not a meaningful unit of rate.  Please update bitpenny.com to publish the actual unit, maybe it's BTC/s, BTC/h, BTC/day or BTC/getwork; I have no idea. Thanks.

But BTC per share IS meaningful rate...

[M4v3R]

Tried this for a short time, did some math and it seems that (for me) this pool pays 8-10% less than slush's pool, so I think I'll stick with the latter .

[[Tycho]]

Tried this for a short time, did some math and it seems that (for me) this pool pays 8-10% less than slush's pool, so I think I'll stick with the latter ;).

8% less is exactly how it should be :) Because slush's fee is 2% and bitpenny's is 10%.
Very nice if you expect long blocks or want some consistency.

[BitLex]

while testing the old bitpenny server, my payout was about 87.5%, taking into account that max 90% are paid out and expecting 2-3% loss caused by connectivity/overhead, this seemed not too bad.

running on the new server for ~2days now my payouts are impressive,
89-90%, means there's almost zero network-loss.

good job OneFixt!

it seems that (for me) this pool pays 8-10% less than slush's pool

obviously, but you can't really compare bitpenny with slush's pool anyway,
you could compare it to the pay-per-share mode on deepbit.

[radracer]

according to ufasoft in his post, bitpenny doesnt work with his miner because:

"WinInet firstly makes request without Login/Password. But this pool incorrectly returns "OK" HTTP code in Response Headers."

http://bitcointalk.org/index.php?topic=3486.msg66883#new

[snedie]

Tempted to jump on this at 1.3Ghash/s. Soon as I get my next large payment from BTCPool I come on for a couple hours and see what I get.

Any estimations?

[[Tycho]]

Tempted to jump on this at 1.3Ghash/s. Soon as I get my next large payment from BTCPool I come on for a couple hours and see what I get.
Any estimations?

15.4450436053 BTC per day and 0.643543483555 BTC per hour.

[snedie]

Tempted to jump on this at 1.3Ghash/s. Soon as I get my next large payment from BTCPool I come on for a couple hours and see what I get.
Any estimations?

15.4450436053 BTC per day and 0.643543483555 BTC per hour.

Thanks Tycho

[touristas]

So just to clear things up.

Ive got a small hash rate of around 100Mhash/s

Left pc mining found that i make about 78.5 accepted shares per hour.
That comes out to about 0.136BTC per hour right ?
So even if the correct block isn't found from the pool on bitpenny's server we still get paid 

[Garrett Burgwardt]

So just to clear things up.

Ive got a small hash rate of around 100Mhash/s

Left pc mining found that i make about 78.5 accepted shares per hour.
That comes out to about 0.136BTC per hour right ?
So even if the correct block isn't found from the pool on bitpenny's server we still get paid 

Yep - since each share has X percent chance of being a winning hash, he pays out X-10% for each hash. So you make less, but you also get consistent payouts and can withdraw instantly.