[204 GH/s] yourbtc.net closing it's doors on 2011-12-08

[urstroyer]

yourbtc.net closing it's doors on 2011-12-08

Hello fellow miners,

it was really a hard decision for me but i'am going to close this pool within the end of day.

I underestimated the amount of time it takes to operate that pool and can't combine it with my fulltime job and private life any longer.
If anyone is interested in taking over the pool, just let me know.

When the poolserver has been shut down, the pool will generate additional "pseudo blocks" on current difficulty until your credit reaches less than 0.00000001 BTC.
So you will receive some additional payouts, just like you would have stopped mining for a while.

Please don't be sad, there are lots of other great pools out there:

- Eclipse MC (http://www.eclipsemc.com) another great double geometric payout pool
- Bitminter (http://www.bitminter.com) another really cool pool, the webfrontend and charts are awesome
- ABCPool (http://www.ABCPool.co) 0% pps, those guys who run this pool have to be crazy not taking a fee

I would like to thank all of you, who trusted in yourbtc.net! Special thanks to Meni who consulted me very well and invented this awesome DGM payout method.

@Mods: please unstick me again, i think Eclipse MC is the pool, that should be sticked instead. Thanks and sorry for inconvinience.

---- Old Post ----



Welcome to yourbtc.net,

we are proud to present our Bitcoin Mining Pool with Double Geometric Payout Method.

Right now, we offer this service at NO FEE!

Please note, that the pool just started and pool hashrate takes some time to grow. So the first block can take a while. Just relax and keep mining here, your expected payout won't suffer.

We appreciate donations to keep this service up and running. Feel free to adjust the donation percentage in your User Account.

If you are interested, visit us at: http://www.yourbtc.net

Status Report
- Pool Frontend: Up and Running
- Pool Backend: Up and Running
- Registration: Open

So what makes yourbtc.net the first choice for Bitcoin Mining?

• Double Geometric Payout Method
• Merged Mining
• No Fees - optional Donation of 2% can be adjusted
• Single Sign On with your existing Google, Yahoo or Facebook Account
• Long Polling and Low Stale Percentage
• Custom build Web Frontend
• SSL Certificate - please use https://yourbtc.net
• Individual and interactive Statistics
• Automatic and full Decimal Payouts
• Shoutbox and E-Mail Support
• JSON API
• Many additional features added almost daily

Finished Promotion
Each Round Share from count 1 to 1,000,000 receive 0.00001 BTC bonus - finished September 20, 2011
Each Round Share up to 1,000,000 receive 0.00001 BTC bonus - finished September 28, 2011

Advantages of Double Geometric Payout Method

This method was invented by Meni Rosenfeld, detailed information can be found here: https://bitcointalk.org/index.php?topic=39497.0

Low Variance Mining
This method offers steady income per share similar to PPS. We take the risk of long rounds and pay even when the pool buffer runs out.

Pool Hopping Proofed
Pool Hopping on yourbtc.net does not increase income, to make sure, everyone will receive a fair value for submitted shares.

Double Geometric Variables
f (Fixed Fee) = -1
c (Variable Fee) = 0.5
o (Cross-Round Leakage) = 0.5
c+f-cf = 0 (Average Total Fee)

You are welcome to ask any questions or leave a comment in this thread. Thanks!

Hope to see you soon and may the hashpower be with you,

Chris aka urstroyer

[1714019380]

1714019380

[1714019380]

1714019380

[Inaba]

Not really the first DGS, but that's ok

We've been running in conjunction with the geometric scoring system for several days now.

Site looks nice, though!  Good luck to you, I hope you can make it!

[urstroyer]

Not really the first DGS, but that's ok

We've been running in conjunction with the geometric scoring system for several days now.

Site looks nice, though!  Good luck to you, I hope you can make it!

Thanks for feedback Inaba, i have changed the wording.

[ChrisLandin]

Im in.

Will add 1gh for now to see how we go. If things look well i will add some more n

[urstroyer]

To clarify how score method and payout works here is a simplified sample for 24/7 mining:



When you start mining the estimated payout appears to be slightly lower than PPS but it will pay when you participate on multiple blocks and the system will pay you off well.

Half of your score is carried into the next round, so you benefit from your efforts of previous rounds. It works because of a slow decay of user score, the rate depends on pool hashrate.

[Inaba]

Interesting graph, can you expand it out a bit more?

Why did you choose a value of .5 for o out of curiosity?

[urstroyer]

Interesting graph, can you expand it out a bit more?

Why did you choose a value of .5 for o out of curiosity?

To explain why o = 0.5 i would like to quote from Meni Rosenfeld:

Increasing o reduces participants' share-based variance but increases maturity time. When o=0 this becomes the geometric method. When o->1 this becomes a variant of PPLNS, with exponential decay instead of 0-1 cutoff (note that "exponential" does not mean "rapid", the decay can be chosen to be slow).

So the decay is VERY slow and of course depending on how many shares the pool can generate per timeframe.
Instead of a share become worthless after N Shares like in many PPLNS Pools, every share receives an exponential decay.

Regarding the graph, i will try do expand later today.

[Meni Rosenfeld]

Very cool.

Why did you choose a value of .5 for o out of curiosity?

Compared to o=0.99, c=0.01, the choice of o=0.5, c=0.5 allows to decrease pool-based variance, at the cost of increased operator risk. Which is substantial, doing this with 0 average fee is dangerous.

[urstroyer]

Compared to o=0.99, c=0.01, the choice of o=0.5, c=0.5 allows to decrease pool-based variance, at the cost of increased operator risk. Which is substantial, doing this with 0 average fee is dangerous.

Yeah i know. Right now, i try to counter the risk with optional donations. If i have to pay a bunch of bitcoins myself, i will do it for the community and as a proof that this method is a very innovating idea.

So far, it seems that almost nobody is interested. I'am greatful for any suggestions or wishes to get this baby running.

[MrWizard]

Compared to o=0.99, c=0.01, the choice of o=0.5, c=0.5 allows to decrease pool-based variance, at the cost of increased operator risk. Which is substantial, doing this with 0 average fee is dangerous.

Yeah i know. Right now, i try to counter the risk with optional donations. If i have to pay a bunch of bitcoins myself, i will do it for the community and as a proof that this method is a very innovating idea.

So far, it seems that almost nobody is interested. I'am greatful for any suggestions or wishes to get this baby running.

Please no gimmicks.  Give me a proportional pool or a PPS pool, or I'm just not interested.

[twmz]

Please no gimmicks.  Give me a proportional pool or a PPS pool, or I'm just not interested.

Nothing personal, but that is a pretty ignorant statement.  Proportional Pools are fatally flawed because they will be exploited by pool hoppers.   Straight-up PPS pools are fatally flawed because they will eventually go bankrupt unless they have massive fees.

The alternatives are not gimmicks.  They are the only reasonable options that don't screw over miners and don't screw over pool operators.

Although I am happy at my current SMPPS pools, I thank urstroyer for setting this up and I hope it is successful.

[iopq]

I love how people read new ideas and implement them fairly quickly
Big props to the pool operator for trying this system out, I think I'll add this pool as a backup

[Meni Rosenfeld]

Straight-up PPS pools are fatally flawed because they will eventually go bankrupt unless they have massive fees.

PPS pools aren't fatally flawed, they just aren't very attractive right now because most PPS operators don't know what they're doing. I believe PPS will be the reward system of the future, but I won't derail the thread into discussing my vision of it. Maybe I'll write about it in its own thread sometime.

[urstroyer]

In order to improve the total Hashrate and convince you of this pool, we are going to give away up to 10 BTC:

Each Round Share from count 1 to 1,000,000 receive 0.00001 BTC bonus

Visit our website for more information and rules.

[ChrisLandin]

When would the 10btc be paid?? At the end of the promotion of a million shares or when the first block is found?

[urstroyer]

When would the 10btc be paid?? At the end of the promotion of a million shares or when the first block is found?

As soon as we reach 1,000,000 shares the promotion btc will be payed. So there is no need to find a block.

Current average payout per share with promotion added is 0.000038 BTC, a very good offer.

[urstroyer]

Pool Updates:

Pool Geomap
Are you interested, where our pool member live? Try out this new chart!
You can even check out the hashrate for every country with mouse over.

User Top 20
If you are interested, who donates most of our hashing power your welcome to use this chart.
In case you don't want your name displayed in public, just visit Pool Options and change your Pool Privacy options.

Please leave a comment if you have a suggestions for more statistics.
I'am happy to implement it for our pool.

[ChrisLandin]

Hiya.

Just to let you know im having connection problems in the uk.

Chris

[urstroyer]

Hiya.

Just to let you know im having connection problems in the uk.

Chris

Should be up and running again! Sorry for this inconvenience.

I'am setting up cluster machines this weekend to make sure we have a backup scenario.

[urstroyer]

Added some FAQ for better understanding how Double Geometric with our parameters work.

Comming up next: JSON API

Still 75% of promotion BTC left. You better hurry up, cause someone from russia is currently hashing the bonus away ^^