[CLOSED] BTCMine - ZERO fee mining pool (LP, SSL, JSON API, P2SH)

[Tanquen]

Slow down, he just sent this:

Mostly because some old users return to pool and start withdraw
 collected money (from 15 to 45 BTC _each_).
 Such amounts stored on backup offline wallet more than 1 year for
 security reason. So right now no money on hot payment wallet.
 I do not have access to backup wallet, because I'm on vacation.
 All small payments will be processed soon, after I add some money to
 payment wallet.

[Hippie Tech]

This situation would have been avoided if the pool had a limit of 5-10 BTC per account.

Still waiting for my 26 pennies. lol

I've never heard anything bad about Btcmine and doubt he will do anything to ruin the pool's good rep.

[organofcorti]

Apart from the reward method, BTCMine have done things right in the past and never acted dishonourably.

[Tanquen]

It’s not the end of the world and it’s totally my fault but now I’m short 1.25 BTC I needed and will have to cancel an auction and pay fees. Don’t count your chickens before they hatch!

What is the reward method and how is it bad?

[organofcorti]

It’s not the end of the world and it’s totally my fault but now I’m short 1.25 BTC I needed and will have to cancel an auction and pay fees. Don’t count your chickens before they hatch!

What is the reward method and how is it bad?

It's an exponentially scored method, like Slush's. It uses a 'c' constant that is relatively low (given the pool hashrate). This means the pool is virtually unhoppable, but also means the variance in earnings is higher than at Slush's pool, and significantly higher than for other reward methods. It's good if you like a gamble, I guess.

[Tanquen]

This is the only one I have used. It's a gamble if you hop or are you saying I’d be earning more with my little 2100 Mhash/s in another pool?

[organofcorti]

This is the only one I have used. It's a gamble if you hop or are you saying I’d be earning more with my little 2100 Mhash/s in another pool?

I think you'd earn just the same at another pool but your earnings would be more consistent - instead of big earnings one week and little earnings the next week.

I don't think BTCMine is being hopped, and even if they were it wouldn't affect your expected earnings much. But the reward method  will increase your variance.

[Hippie Tech]

I believe there is a good chance to earn more with small proportional pools because it doesn't take much of a luck streak to put you way ahead of the PPS rate.

Making .5 - .68 BTC per Ghash/s per round will do that. ahah..

[organofcorti]

I believe there is a good chance to earn more with small proportional pools because it doesn't take much of a luck streak to put you way ahead of the PPS rate.

Making .5 - .68 BTC per Ghash/s per round will do that. ahah..

Sometimes it feels like I just wander around cleaning up your messes. This is why we can't have nice things.

While your belief is not specifically wrong it's easy for a new miner to think that they'd earn more from a small proportional pool than any other pool, which is false.

It is possible to earn greater amounts in the short term, but just as likely to earn lesser amounts in the same time frame. Ignoring everything else that there is to like about this pool, if you like the gamble this is a good place to mine. If you want a reliable source of income, then it's not a good place to mine.

[Hippie Tech]

I believe there is a good chance to earn more with small proportional pools because it doesn't take much of a luck streak to put you way ahead of the PPS rate.

Making .5 - .68 BTC per Ghash/s per round will do that. ahah..

Sometimes it feels like I just wander around cleaning up your messes. This is why we can't have nice things.

While your belief is not specifically wrong it's easy for a new miner to think that they'd earn more from a small proportional pool than any other pool, which is false.

It is possible to earn greater amounts in the short term, but just as likely to earn lesser amounts in the same time frame. Ignoring everything else that there is to like about this pool, if you like the gamble this is a good place to mine. If you want a reliable source of income, then it's not a good place to mine.

wtf lol organo... what messes ??  ... and thanks for caring. :p lmao

I did not imply that the luck/bounty was/is guaranteed.

I said.. "there is a good chance" because as is the case with EVERY pool that I've been monitoring, the good times far out number the bad.

Even with this month's slump and counting the shares from the invalid block, BTCmine's PPS rate during the last 25 blocks is,  (24x 25BTC) / 69896438 shares = 0.00000858412842153701737991283618773.

[organofcorti]

I believe there is a good chance to earn more with small proportional pools because it doesn't take much of a luck streak to put you way ahead of the PPS rate.

Making .5 - .68 BTC per Ghash/s per round will do that. ahah..

Sometimes it feels like I just wander around cleaning up your messes. This is why we can't have nice things.

While your belief is not specifically wrong it's easy for a new miner to think that they'd earn more from a small proportional pool than any other pool, which is false.

It is possible to earn greater amounts in the short term, but just as likely to earn lesser amounts in the same time frame. Ignoring everything else that there is to like about this pool, if you like the gamble this is a good place to mine. If you want a reliable source of income, then it's not a good place to mine.

wtf lol organo... what messes ??  ... and thanks for caring. :p lmao

The messes are you dropping illogic bombs by which new miners can be mislead.

I did not imply that the luck/bounty was/is guaranteed.

I said.. "there is a good chance" because as is the case with EVERY pool that I've been monitoring, the good times far out number the bad.

There is not "a good chance", there is an average chance: 50% of rounds will be greater than ln(2)*D shares long, and 50% will be less than that.  If this is not the case, either mathemetics is broken, or you haven't monitored many pools, or monitored them for very long.

Even with this month's slump and counting the shares from the invalid block, BTCmine's PPS rate during the last 25 blocks is,  (24x 25BTC) / 69896438 shares = 0.00000858412842153701737991283618773.

Mixing blocks solved for different difficulties is obfuscates what's happening. If BTCMine solved lots of blocks at a lower difficulty and fewer at a higher difficulty, then your PPS figure would be artificially high. It doesn't necessarily mean the pool is lucky.

Try dividing each blocks' shares by the difficulty at which the block was solved. Take the average of this number for the last 25 blocks. If this is less than 0.647, then the pool has had significantly good luck. If not, then it hasn't.

[Hippie Tech]

I believe there is a good chance to earn more with small proportional pools because it doesn't take much of a luck streak to put you way ahead of the PPS rate.

Making .5 - .68 BTC per Ghash/s per round will do that. ahah..

Sometimes it feels like I just wander around cleaning up your messes. This is why we can't have nice things.

While your belief is not specifically wrong it's easy for a new miner to think that they'd earn more from a small proportional pool than any other pool, which is false.

It is possible to earn greater amounts in the short term, but just as likely to earn lesser amounts in the same time frame. Ignoring everything else that there is to like about this pool, if you like the gamble this is a good place to mine. If you want a reliable source of income, then it's not a good place to mine.

wtf lol organo... what messes ??  ... and thanks for caring. :p lmao

The messes are you dropping illogic bombs by which new miners can be mislead.

I did not imply that the luck/bounty was/is guaranteed.

I said.. "there is a good chance" because as is the case with EVERY pool that I've been monitoring, the good times far out number the bad.

There is not "a good chance", there is an average chance: 50% of rounds will be greater than ln(2)*D shares long, and 50% will be less than that.  If this is not the case, either mathemetics is broken, or you haven't monitored many pools, or monitored them for very long.

Even with this month's slump and counting the shares from the invalid block, BTCmine's PPS rate during the last 25 blocks is,  (24x 25BTC) / 69896438 shares = 0.00000858412842153701737991283618773.

Mixing blocks solved for different difficulties is obfuscates what's happening. If BTCMine solved lots of blocks at a lower difficulty and fewer at a higher difficulty, then your PPS figure would be artificially high. It doesn't necessarily mean the pool is lucky.

Try dividing each blocks' shares by the difficulty at which the block was solved. Take the average of this number for the last 25 blocks. If this is less than 0.647, then the pool has had significantly good luck. If not, then it hasn't.

Have you ever mined for a small/ sub 100 Ghash pool recently ?

Is anything of what you are saying based on EXPERIENCE ?

I doubt it.

edit...

Still waiting for my BTC.

[Tanquen]

Still no pay out and two more blocks found. The blocks confirmed but he had said he would add some money for a small payout.

[Hippie Tech]

My .26 finally showed up today.

I guess you'll have to wait until he's back.

[Hippie Tech]

WOOOT whooo YAAAAA !! I just found my 2nd block !!

mmm  .. BTC tastes pretty damn good !

pEACe

[Hippie Tech]

Pool found a block 3 hours ago and its not showing on the confirm list..

update..

There it is ! 4 hours late.. lol

mmm... tastey BTC deliciousness....

[Hippie Tech]

The stats page is showing everyone as 'offline' even though Guiminer is okie and submitting shares.

[MrsDoubtfire]

Just a quick hello. Love the fact that I turn up and the luck drops through the floor... Oooops!

[Hippie Tech]

Just a quick hello. Love the fact that I turn up and the luck drops through the floor... Oooops!

You also jinxed the new 850w gold psu that diiied 9 days after I bought it. lol

wtg ! ..and welcome.

[dbitcoin]

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