I0 Guild - Closed since August

[jwzguy]

You would be competing with the speed whether the pool was here or not .  If it doesn't go online they'll just solo mine.

I'm not turning BTC Guild's hash power towards I0 Coin, just providing a well established pool frontend/backend for I0 Coin.

Also keep in mind that concentrated hash power has a huge advantage over individual smaller hashing power. So your pool would dominate that entire network. How is that fair? Plus on top of that you are charging your miners 2% of each block which is outrageous at the rate blocks will be mined.

You fail at math.

[smoothie]

You would be competing with the speed whether the pool was here or not .  If it doesn't go online they'll just solo mine.

I'm not turning BTC Guild's hash power towards I0 Coin, just providing a well established pool frontend/backend for I0 Coin.

Also keep in mind that concentrated hash power has a huge advantage over individual smaller hashing power. So your pool would dominate that entire network. How is that fair? Plus on top of that you are charging your miners 2% of each block which is outrageous at the rate blocks will be mined.

You fail at math.

And what math is that? Where did I do any math in my explanation?

YOU fail at observation.

[eleuthria]

You're free to start your own pool if you feel 2% is outrageous.  It didn't (and still doesn't) stop people from mining at slush or Deepbit for a currency that has already proven some value.

[dlasher]

You would be competing with the speed whether the pool was here or not .  If it doesn't go online they'll just solo mine.

I'm not turning BTC Guild's hash power towards I0 Coin, just providing a well established pool frontend/backend for I0 Coin.

And taking a 2% fee off each block mined. Yup that's all.

lol

That is actually pretty damn good compared to other pools on bitcoin.

Any good reason why he should do it for free?

[smoothie]

You're free to start your own pool if you feel 2% is outrageous.  It didn't (and still doesn't) stop people from mining at slush or Deepbit for a currency that has already proven some value.

I0coins hasnt even started and you know 2% is not much?

[inh]

If you cant fight the pool, join the pool.

[mike85123]

The IX Coin pool is taking 3%, so I am happy with 2.08%. Will be splitting my miners 1/2 to the pool and 1/2 to solo.

[TripHammer]

where can I get the client from?

[Mousepotato]

I'm getting 50% rejecteds right now on the test pool   What gives?

[mike85123]

I'm getting 50% rejecteds right now on the test pool   What gives?

Most miners take longer than 10 seconds to find a hash, but the blocks are getting solved faster than that. So by the time your miner tries to submit it's hash, the pool is already working on the next block (or 2). I was seeing 80% stale. Once the first jump in difficulty and the blocks start taking longer than a minute to solve, the stales will go way down.

[Mousepotato]

Most miners take longer than 10 seconds to find a hash, but the blocks are getting solved faster than that. So by the time your miner tries to submit it's hash, the pool is already working on the next block (or 2). I was seeing 80% stale. Once the first jump in difficulty and the blocks start taking longer than a minute to solve, the stales will go way down.

TY for the explanation   In the 16 minutes I've been mining on the test pool, I have mined about 83 i0coins so far with 330 MH/s (what i0guild reports, but it's actually 410 MH/s in my DOS window).

[eleuthria]

Basically, on normal BitCoin a new block is found every 10 minutes.  There is a 0-2 second window between a new block and a long poll.  Which means with BitCoin, you're looking at about a 1/300 to 1/600 chance of submitting a share during a new block window.  Actual rates are a bit higher due to latency and long poll efficiency (and some miners don't clear their stale work instantly, so they might submit a stale share shortly after a long poll).

Those rates are fairly acceptable, but right now i0coin is moving with a new block every 1-10 seconds roughly.  So you've gone from a less than 1% chance to a VERY high chance.

The stale rates will drop massively as difficulty increases 4x each time.  If you were to solo mine, you would either be seeing high reject rates OR (more likely) large numbers of invalid (orphan) blocks.

I just put in a small patch to i0coind (it sleeps for 2 seconds after finding a valid block), we'll see if this reduces rejects even at such massive speeds.

[MelMan2002]

So is the connection info on http://i0.btcguild.com/how_to_connect.php correct?  I thought that the port numbers were different for i0coin...are they not?

[Mousepotato]

So is the connection info on http://i0.btcguild.com/how_to_connect.php correct?  I thought that the port numbers were different for i0coin...are they not?

Yeah they're correct, as I'm currently mining and the i0coins are showing up in my i0.btcguild control panel.

[joulesbeef]

I0coins hasnt even started and you know 2% is not much?

well relative 2% is 2%. Does it really matter what I0coins are worth?
if they are worth $1, he gets 2 cents,i get 98 cents if they are worth $100 he gets $2 i get $98
if $1000 each, he gets $20, I get $980. If they are $1,000,000,000 each, I get $980,000,000 and he gets $20,000,000

it doesnt seem to mean much, it still isnt a lot. i dont think I would care much about the 20 million if I had 980 million.

[MrWizard]

I like how when you click View in block history details it shows BTC Earned not I0C earned. 

[Desolator]

so....how do these forked currencies work?  Wouldn't you have to have someone accept those as well? And since there's like A LOT of variations, it'd work about as well as when each US state used their own currency.  That seems extremely detrimental to the original bitcoins.  Is there some collaborating math or logic here that links them together in a beneficial way or is it basically competing currencies?

[MrWizard]

so....how do these forked currencies work?  Wouldn't you have to have someone accept those as well? And since there's like A LOT of variations, it'd work about as well as when each US state used their own currency.  That seems extremely detrimental to the original bitcoins.  Is there some collaborating math or logic here that links them together in a beneficial way or is it basically competing currencies?

It's all for grins to me.  I don't take any crypto-currency seriously.   

[d.james]

What is the actual starting difficulty going to be?
Does it have to start at silly "1"?
Are there any official words on that?

256 or even 1024 would be pretty reasonable starting point.

[doublec]

The IX Coin pool is taking 3%, so I am happy with 2.08%. Will be splitting my miners 1/2 to the pool and 1/2 to solo.

The IX Coin pool made a loss, even charging 3%, because it pays out on orphan blocks and there are a large number that occur when blocks are flying left and right every few seconds. So the real fee wasn't 3%, it was more like -1%.