Analysis of Bitcoin Pooled Mining Reward Systems

[Graet]

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

Thanks for sticvkying mods

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[Meni Rosenfeld]

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

Thanks for sticvkying mods

I'll take this opportunity to reference the latest development in this area, Multi-PPS.

[ThinkFast]

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

[Meni Rosenfeld]

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.

[ThinkFast]

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]

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.

[organofcorti]

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.

[bernard75]

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]

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...

[ssateneth]

Where is CPPSRB?

[Meni Rosenfeld]

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.

[gmaxwell]

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]

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.

[high110]

So...what pools would you use?  What's PtoPool???

[Meni Rosenfeld]

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.

[high110]

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]

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.

[roy7]

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

[JimmyGTO]

Very informative post.

[annable]

Great helpful