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

[LMGTFY]

Mine shows 19:49  

Weird. If you check the source, the page loads with the time hard-coded to proper-UTC. I haven't looked any further yet, but I assume there's some JavaScript wizardry that then ticks the time on. I assume that's where the discrepancy occurs - the JavaScript must be doing something odd in your case.

Edit: there's a function, updateUTCTime, that seems to be using local time to derive UTC. Seems a little long-winded and potentially error-prone. I seem to recall JavaScript having UTC handling built-in... but it's been a long time since I used it. I'll dig further...

Edit 2: yup, the Date object has UTC methods. This is untested, and it's possible dbitcoin has a good reason that I've not thought of for doing it the way it's done, but if it were me I'd start by looking at replacing...

Code:

        dt = new Date(utc);
        dtstring = pad(dt.getMonth()+1, 2)
            + '/' + pad(dt.getDate(), 2)
            + '/' + dt.getFullYear()
            + ' ' + pad(dt.getHours(), 2)
            + ':' + pad(dt.getMinutes(), 2)
            + ':' + pad(dt.getSeconds(), 2);

with...

Code:

        dtstring = pad(Date.getUTCMonth()+1, 2)
            + '/' + pad(Date.getUTCDate(), 2)
            + '/' + Date.getUTCFullYear()
            + ' ' + pad(Date.getUTCHours(), 2)
            + ':' + pad(Date.getUTCMinutes(), 2)
            + ':' + pad(Date.getUTCSeconds(), 2);

[1714801400]

1714801400

[dbitcoin]

UTC time shown in red on "Mining Activity" is incorrect.  1 hour "ahead"

Now time it's correct?

[snedie]

Can't wait for this payout, it's only just going to cover the cost in electricity. Sorry dbit but I'm thinking to switch pools to bitpenny.

[dbitcoin]

Can't wait for this payout, it's only just going to cover the cost in electricity. Sorry dbit but I'm thinking to switch pools to bitpenny.

Per share payout in long term period = same money. But now per share give you less.

[snedie]

Can't wait for this payout, it's only just going to cover the cost in electricity. Sorry dbit but I'm thinking to switch pools to bitpenny.

Per share payout in long term period = same money. But now per share give you less.

Give less?

Anyway. From what I have earnt in your pool these past days is only earning me a slight amount over the cost of electricity. In BitPenny, my estimates show that I could possibly earn higher (and that value would be fairly consistent). I won't actually know until I get in there and see what sort of Coin/Hr I achieve, but if it turns out to be less than your pool I will return.

[JWU42]

Might also factor in MtGox has dropped about 15% in the last week  

http://www.bitcoincharts.com/charts/mtgoxUSD#rg30zvztgSzm1g10zm2g25

[LMGTFY]

Can't wait for this payout, it's only just going to cover the cost in electricity. Sorry dbit but I'm thinking to switch pools to bitpenny.

Per share payout in long term period = same money. But now per share give you less.

Give less?

Anyway. From what I have earnt in your pool these past days is only earning me a slight amount over the cost of electricity. In BitPenny, my estimates show that I could possibly earn higher (and that value would be fairly consistent). I won't actually know until I get in there and see what sort of Coin/Hr I achieve, but if it turns out to be less than your pool I will return.

Re: "Give less" - assume the average time to find a block on btcmine is 1 day, there are 10 miners, and each miner achieves 100 shares a day. In the average case when the block is found after exactly 24 hours, there are 1000 shares. Right now, we've gone, say, three days without finding a block and there are 3000 shares. For each miner the ultimate reward will be the same (50 BTC / 10 miners), but for each share the reward will be much less (50 BTC / 3000 shares vs. 50 / 1000). As dbitcoin says, in the long term this evens out - but right now it's hard not to look at the reward per share and think of all that electricity... :-(

[snedie]

Can't wait for this payout, it's only just going to cover the cost in electricity. Sorry dbit but I'm thinking to switch pools to bitpenny.

Per share payout in long term period = same money. But now per share give you less.

Give less?

Anyway. From what I have earnt in your pool these past days is only earning me a slight amount over the cost of electricity. In BitPenny, my estimates show that I could possibly earn higher (and that value would be fairly consistent). I won't actually know until I get in there and see what sort of Coin/Hr I achieve, but if it turns out to be less than your pool I will return.

Re: "Give less" - assume the average time to find a block on btcmine is 1 day, there are 10 miners, and each miner achieves 100 shares a day. In the average case when the block is found after exactly 24 hours, there are 1000 shares. Right now, we've gone, say, three days without finding a block and there are 3000 shares. For each miner the ultimate reward will be the same (50 BTC / 10 miners), but for each share the reward will be much less (50 BTC / 3000 shares vs. 50 / 1000). As dbitcoin says, in the long term this evens out - but right now it's hard not to look at the reward per share and think of all that electricity... :-(

I see. The problem I have is that without a job I cannot pay in advance my electricity bills, and because we pay an "Estimated Bill" at the beginning of a month I must have the necessary money in place for the next month. When this pool finally pays out it will have cost more in electricity than it did to mine, where as pools such as bitpenny and deepbit can give me a steady income that always always the cost in electricity.

Once I have spent a week in either of those two pools and got some money saved, I will re-evaluate this pool's solve rate and see which one paid more.

[edit]Actually since JWU42 and Supressor started (late I might add) my bounty has dropped significantly, and it has cost me 1/3 more to mine than the payout.

[LMGTFY]

I see. The problem I have is that without a job I cannot pay in advance my electricity bills, and because we pay an "Estimated Bill" at the beginning of a month I must have the necessary money in place for the next month. When this pool finally pays out it will have cost more in electricity than it did to mine, where as pools such as bitpenny and deepbit can give me a steady income that always always the cost in electricity.

Once I have spent a week in either of those two pools and got some money saved, I will re-evaluate this pool's solve rate and see which one paid more.

I was solo-mining until the most recent difficulty increase, but since then I've been floating between various pools - mostly dbitcoin's and slush's. FWIW, I've made more with btcmine than I have with mining.bitcoin.cz, but that's probably because I went for the "per share" option right when btcmine started. I can afford the quiet periods in btcmine right now, but if I was in your utility-bill position I'd probably look at mining.bitcoin.cz instead - it's much more steady. With one 5870 I've been averaging 2.5 BTC per day, varying between just over 1 to just over 4 BTC in any given day.

I suspect if I moved to btcmine, and waited for, say, a couple of weeks to a month, I'd see similar averag results - just with a lot more variation. (Ignoring difficulty changes, obviously).

(Just to annoy everyone: I made more CPU solo-mining back in October than I have from GPU pooled-mining!)

[snedie]

I really want to get out of this pool but I can't disconnect until we solve a block at some point (Not wasting 4 days).

[LMGTFY]

I really want to get out of this pool but I can't disconnect until we solve a block at some point (Not wasting 4 days).

Miners Top is showing your hash rate as 1307 Mhash/s - at that rate you could be making around 10 BTC per day on average in a bigger pool, or averaging under three days to make 50 BTC solo-mining. There's no telling when btcmine will find its next block, so it might be worth considering cutting your losses... As I understand it the shares you've accumulated so far will still count, even if you switch pools or start solo-mining, so it wouldn't be a complete loss.

Personally, if I had 1300 Mhash/s at my disposal I'd still be solo-mining ;-)

[snedie]

I really want to get out of this pool but I can't disconnect until we solve a block at some point (Not wasting 4 days).

Miners Top is showing your hash rate as 1307 Mhash/s - at that rate you could be making around 10 BTC per day on average in a bigger pool, or averaging under three days to make 50 BTC solo-mining. There's no telling when btcmine will find its next block, so it might be worth considering cutting your losses... As I understand it the shares you've accumulated so far will still count, even if you switch pools or start solo-mining, so it wouldn't be a complete loss.

Personally, if I had 1300 Mhash/s at my disposal I'd still be solo-mining ;-)

Well people say its a 2day average solve rate with dual 5970's, but I have solved one block in 5 days for this pool. I have also just done the math on this pool's current solve rate, and even though to the eye it looks very slow it's actually earning miners the average rate of most pools (70BTC/Week: If it solved now, the average over 7 days for me would be 74.3664BTC).

Solo mining looks very tempting to me, however I first need to earn the entire proceeding month's electricity cost before I switch.

[[Tycho]]

I really want to get out of this pool but I can't disconnect until we solve a block at some point (Not wasting 4 days).

As I understand it the shares you've accumulated so far will still count, even if you switch pools or start solo-mining, so it wouldn't be a complete loss.
Personally, if I had 1300 Mhash/s at my disposal I'd still be solo-mining ;-)

As i understand, everything will be lost except for the shares submitted in the last two network block intervals (~20 min)

1.3 GH/s is too slow for solo mining, IMHO :) Will work ONLY if you are lucky.

[LMGTFY]

As i understand, everything will be lost except for the shares submitted in the last two network block intervals (~20 min)

Ah, that's a shame.

1.3 GH/s is too slow for solo mining, IMHO Will work ONLY if you are lucky.

Really?! I'd consider solo-mining viable if the average suggested at least one (ideally more) block before the next difficulty change. At 1.3 Gh/s the average is under three days, with around six days before the next difficulty change. To be honest, at 330 Kh/s (average 11 days, 11 hours) I'm considering moving back to solo-mining when the difficulty decreases next week, though I'll concede that I'll need a good bit of luck! :-)

[[Tycho]]

Really?! I'd consider solo-mining viable if the average suggested at least one (ideally more) block before the next difficulty change. At 1.3 Gh/s the average is under three days, with around six days before the next difficulty change. To be honest, at 330 Kh/s (average 11 days, 11 hours) I'm considering moving back to solo-mining when the difficulty decreases next week, though I'll concede that I'll need a good bit of luck! :-)

Yes, i'm thinking about this as deciding factor too. But it's not guaranted that you will find a block in 3 days. Last block in slush's pool took 524205 shares to solve. Yesterday i had 489991-shares block in my pool, so it's pretty possible. When mining solo that would be a little disaster, like a month of mining for single block :)

I don't see any reason to mine solo at 300 KH/s even with 70k difficulty...

[dbitcoin]

I added poll about preferred payout model. Please vote.

[snedie]

I added poll about preferred payout model. Please vote.

I voted "Per-Share" model, but I think that is a biast answer from me. Until mining becomes a steady operation for me, I don't think I could nestle on any one payout model. It will be interesting to see what people vote for though: Could those who vote (If they wanted to) mention what they voted for and if they use CPU or GPU mining.

[Grinder]

I voted pay per share, under the condition that the price is the same for all models. I don't think those who select another option make the same assumption, because if they did it would make no sense to select anything else. The whole point of a pool is to get a steady payout, and pps is as steady as it gets.

The only drawback for pps is that it shifts that risk to the pool provider. Other than that it's win win for both sides. It makes it very easy to client to check that the pool provider doesn't cheat, and the pool provider doesn't have to take any measures against pool jumping. I think that if someone starts providing pps and long polling for a more fair price than 10% they would quickly become the largest pool.

[[Tycho]]

I think that if someone starts providing pps and long polling for a more fair price than 10% they would quickly become the largest pool.

Any price is fair if both sides agree on it and pool owner don't lies about it.

[Grinder]

Any price is fair if both sides agree on it and pool owner don't lies about it.

But since I don't agree to it your attempt at nitpicking is moot.