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WuLabsWuTecH (OP)
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June 18, 2013, 09:30:08 PM |
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So I currently mine with BTCGuild. After getting some ASIC's online, I'm wondering if I should change pools or not.
BTCGuild has PPLNS at 3% fee, and I saw that bitminter has 1% also PPLNS. Everything else seems to be the same. And both communities are generally very warm and helpful. Obviously BTCGuild is going to be finding blocks a lot faster but someone mentioned to me that now I have a higher hash rate, I should look at pools with lower fees. I don't know if this is the right logic or not since BTCGuild will find more blocks which means less payout variations, but also wouldn't they payout slightly higher? And does this offset the fee difference?
Any advice on what to consider when looking for a new pool would be welcome!
Thanks!
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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miner_btc
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Activity: 60
Merit: 10
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June 18, 2013, 09:40:27 PM |
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With such hashing power in their group, BTCGuild will find blocks sooner but even with a smaller pool with lower fees your income level should be the same. You may be paid out less frequently but the lower fee should allow you to make more BTC overall. Bitminter also has merged mining with namecoin so you wouldn't lose out on much by switching but you would pay less in fees. You might even consider bitparking as they merged mine namecoin, ixcoin and devcoin in addition to bitcoin. Their fee is only 1.5% but would pay out less often since there are fewer people mining there. In any case, GL with your asics. Wish mine were here already.  |
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not.you
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June 18, 2013, 09:41:24 PM |
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I have mined on Slush, BTCGuild, 50BTC, BitParking, and BitMinter. I have settled with half of my hashrate on BitParking and half on BitMinter. BTCGuild and 50BTC are steady payouts and you know more or less what you are going to get (BTCGuild gets steady blocks because of it's size so it doesn't feel like there is a lot of variance), but I have no doubt that you get less in the long run than you do on any of the other "high variance" pools I mentioned above. The variance can suck on any of those pools when luck is bad, but in the long run the payout for me has always been more on any of those pools. The reason I don't mine on Slush now is because I just don't like his payout scheme but as I say, still a more profitable pool than BTCGuild or 50BTC. BitMinter is having some DDOS issues right at the moment though which is a bummer  |
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crazyates
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June 18, 2013, 09:45:47 PM |
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I think everyone should be constantly reevaluating their choice of pools on a month-by-month basis. Look at what there is, and choose what's best for you.
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spooderman
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June 18, 2013, 09:46:53 PM |
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I'm a fan of eligius myself. I believe it to be more inkeeping with the ethos of bitcoin. Centralised pools seem to contradict the spirit of this currency.
It's also more fun when a small pool finds a block and you get a large payout. The small but steady amounts 50btc gives out are a little dull.
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Society doesn't scale.
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spiccioli
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nec sine labore
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June 19, 2013, 04:32:40 PM |
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So I currently mine with BTCGuild. After getting some ASIC's online, I'm wondering if I should change pools or not.
WuLabs, you should try HHTTAn Avalon mines without problems with difficulty 512 for a fee of 0.36% and pool pays half of block fees to the miner who finds it. It is a PPLNS pool, so it takes a while, two days more or less, before you earn your fair share of each block found. spiccioli |
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kano
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Linux since 1997 RedHat 4
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June 20, 2013, 12:48:36 AM |
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I'm a fan of eligius myself. I believe it to be more inkeeping with the ethos of bitcoin. Centralised pools seem to contradict the spirit of this currency.
It's also more fun when a small pool finds a block and you get a large payout. The small but steady amounts 50btc gives out are a little dull.
The only decentralised pool is p2pool. Just because someone claims a centralised pool isn't centralised, it doesn't magically make it decentralised. |
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yxxyun
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June 20, 2013, 01:05:00 AM |
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I like p2pool, but it is not support asic very well.
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kano
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Linux since 1997 RedHat 4
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June 20, 2013, 02:44:55 AM |
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I like p2pool, but it is not support asic very well.
Indeed. |
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spooderman
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Merit: 1022
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June 20, 2013, 11:13:59 AM |
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I'm a fan of eligius myself. I believe it to be more inkeeping with the ethos of bitcoin. Centralised pools seem to contradict the spirit of this currency.
It's also more fun when a small pool finds a block and you get a large payout. The small but steady amounts 50btc gives out are a little dull.
The only decentralised pool is p2pool. Just because someone claims a centralised pool isn't centralised, it doesn't magically make it decentralised. Oh That's disappointing. Care to explain to me the difference between eligius and p2pool? Ty in advance for if you do  ....also, could eligius in theory perform a 51% attack? |
Society doesn't scale.
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