Bitcoin Forum
December 06, 2016, 02:30:02 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 [5] 6 »  All
  Print  
Author Topic: Analysis of Bitcoin Pooled Mining Reward Systems  (Read 32828 times)
Graet
VIP
Legendary
*
Offline Offline

Activity: 980



View Profile WWW
September 25, 2013, 11:55:29 PM
 #81

Bumping this - soooo many new users would benefit from understanding payout methods (and more than a few wannabe poolops)

Thanks for sticvkying mods Smiley

| Ozcoin Pooled Mining Pty Ltd https://ozcoin.net Double Geometric Reward System https://lc.ozcoin.net for Litecoin mining DGM| https://crowncloud.net VPS and Dedicated Servers for the BTC community
The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481034602
Hero Member
*
Offline Offline

Posts: 1481034602

View Profile Personal Message (Offline)

Ignore
1481034602
Reply with quote  #2

1481034602
Report to moderator
1481034602
Hero Member
*
Offline Offline

Posts: 1481034602

View Profile Personal Message (Offline)

Ignore
1481034602
Reply with quote  #2

1481034602
Report to moderator
1481034602
Hero Member
*
Offline Offline

Posts: 1481034602

View Profile Personal Message (Offline)

Ignore
1481034602
Reply with quote  #2

1481034602
Report to moderator
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
September 26, 2013, 05:17:10 PM
 #82

Bumping this - soooo many new users would benefit from understanding payout methods (and more than a few wannabe poolops)

Thanks for sticvkying mods Smiley
I'll take this opportunity to reference the latest development in this area, Multi-PPS.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
ThinkFast
Member
**
Offline Offline

Activity: 69


View Profile
October 01, 2013, 05:35:29 PM
 #83

There is no pool that matches this category [Equalized SMPPS (ESMPPS)] exactly. So the leaves SMPPS as the best category?
Thanks
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 01, 2013, 05:46:21 PM
 #84

There is no pool that matches this category [Equalized SMPPS (ESMPPS)] exactly. So the leaves SMPPS as the best category?
Thanks
I don't understand the question. SMPPS and ESMPPS are among the worst methods that exist.

There was an ESMPPS pool once. I don't remember its name.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
ThinkFast
Member
**
Offline Offline

Activity: 69


View Profile
October 01, 2013, 08:29:52 PM
 #85

There is no pool that matches this category [Equalized SMPPS (ESMPPS)] exactly. So the leaves SMPPS as the best category?
Thanks
I don't understand the question. SMPPS and ESMPPS are among the worst methods that exist.

There was an ESMPPS pool once. I don't remember its name.
I see the table is split into 2 pieces (wrapped). I misread it. My concentration is about 50/50 today.
So PPS is best category.
Thanks for throwing a red flag.
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 02, 2013, 07:13:27 AM
 #86

There is no pool that matches this category [Equalized SMPPS (ESMPPS)] exactly. So the leaves SMPPS as the best category?
Thanks
I don't understand the question. SMPPS and ESMPPS are among the worst methods that exist.

There was an ESMPPS pool once. I don't remember its name.
I see the table is split into 2 pieces (wrapped). I misread it. My concentration is about 50/50 today.
So PPS is best category.
Thanks for throwing a red flag.
Oh, you're talking about the summary paper.

Yeah, PPS is the method with the most potential but it needs to be done right.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
October 08, 2013, 11:44:24 AM
 #87

There is no pool that matches this category [Equalized SMPPS (ESMPPS)] exactly. So the leaves SMPPS as the best category?
Thanks
I don't understand the question. SMPPS and ESMPPS are among the worst methods that exist.

There was an ESMPPS pool once. I don't remember its name.

Bitpit. They died and took some of my coins with them.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
bernard75
Legendary
*
Offline Offline

Activity: 1064



View Profile
October 10, 2013, 06:38:13 PM
 #88

Bitpit. They died and took some of my coins with them.
What do you mean they died? They made a run for it, when it was at the highest.
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 10, 2013, 08:04:14 PM
 #89

Bitpit. They died and took some of my coins with them.
What do you mean they died? They made a run for it, when it was at the highest.
The pool died, not its operators...

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
ssateneth
Legendary
*
Offline Offline

Activity: 1288



View Profile
October 16, 2013, 10:09:53 PM
 #90

Where is CPPSRB?

Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 16, 2013, 10:40:20 PM
 #91

Where is CPPSRB?
Not worth spending time on. I believe it was invented / became popular after the paper was completed, and I don't update it for every new broken method. IIRC, it's fairly similar to the *SMPPS.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
gmaxwell
Moderator
Legendary
*
Offline Offline

Activity: 2016



View Profile
October 27, 2013, 04:01:17 AM
 #92

Where is CPPSRB?
Not worth spending time on. I believe it was invented / became popular after the paper was completed, and I don't update it for every new broken method. IIRC, it's fairly similar to the *SMPPS.
Weird. I thought I heard you using it as an example at the conference as a scheme which made a long term uncertainty of when you'd be paid.

I think it's something of an extreme example of making tradeoff for the lowest long term uncertainty in exchange for the higher medium term uncertainty. Kind of an odd example.  Primary argument I have against it is that the high medium term uncertainty kinda stinks.
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 27, 2013, 05:03:52 AM
 #93

Where is CPPSRB?
Not worth spending time on. I believe it was invented / became popular after the paper was completed, and I don't update it for every new broken method. IIRC, it's fairly similar to the *SMPPS.
Weird. I thought I heard you using it as an example at the conference as a scheme which made a long term uncertainty of when you'd be paid.

I think it's something of an extreme example of making tradeoff for the lowest long term uncertainty in exchange for the higher medium term uncertainty. Kind of an odd example.  Primary argument I have against it is that the high medium term uncertainty kinda stinks.
I didn't mention CPPSRB except perhaps in the context of the list of pools and their methods in the end; and I didn't use the term "long-term uncertainty". Of course, this doesn't contradict the statement that it is newer than the paper; the paper is 2 years old.

The closest thing I can think of is in the reward method triangle, I've probably mentioned that PPLNS can achieve any tradeoff between variance and maturity time.

The main problem with CPPSRB, as with all other methods that I refer to as broken, is that it is not hopping-proof. The hoppability is low, but still exists.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
high110
Full Member
***
Offline Offline

Activity: 210


View Profile
October 27, 2013, 11:04:40 PM
 #94

So...what pools would you use?  What's PtoPool???
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
October 28, 2013, 05:07:53 AM
 #95

So...what pools would you use?  What's PtoPool???
P2pool is a p2p pool. As far as reward methods go, I would use any pool that has a hopping-proof method.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
high110
Full Member
***
Offline Offline

Activity: 210


View Profile
October 28, 2013, 11:28:17 PM
 #96

So...what pools would you use?  What's PtoPool???
P2pool is a p2p pool. As far as reward methods go, I would use any pool that has a hopping-proof method.

What's a hopping proofing method and which pools offer it?  I tried to look on the wiki forum...but it doesn't say anything about hopping-proof.
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
October 29, 2013, 12:10:25 AM
 #97

So...what pools would you use?  What's PtoPool???
P2pool is a p2p pool. As far as reward methods go, I would use any pool that has a hopping-proof method.

What's a hopping proofing method and which pools offer it?  I tried to look on the wiki forum...but it doesn't say anything about hopping-proof.

PPLNS, PPS, DGM. If you want more details, it's all explained in the paper linked to on the first page of this thread.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
roy7
Sr. Member
****
Offline Offline

Activity: 434


View Profile
January 27, 2014, 02:18:14 PM
 #98

I do wish p2pool used DGM, but PPLNS is a decent method. Smiley

RoyalMiningCo: Pools retired. Was fun!
JimmyGTO
Newbie
*
Offline Offline

Activity: 15


View Profile
January 29, 2014, 09:18:18 AM
 #99

Very informative post.

https://www.bitsler.com/?ref=Slingblade2
annable
Jr. Member
*
Offline Offline

Activity: 32


View Profile
February 04, 2014, 07:26:06 AM
 #100

Great helpful
Pages: « 1 2 3 4 [5] 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!