[POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com

[LPCobris]

I have been thinking...

One solution to my power problem, is to change slowly my machines for some usb asic crap...

If they cost $70 per stick for 330khash, 10 will do $700 (cost of a system) and do 3.3 mhash.
Ofc they are not that fast, but for me is a deal breaker.... 70W of power consuption and no heat or noise...

I might change all my rigs alltogheter...

They could really help on these hard times of low profitability... because they remove the killer element of the equation... (the power bill!).

What do you guy´s think?

And btw where can i get those gridseed usb sticks?

Best Regards,

LPC

[gaalx]

Reddcoin (RDD)
Network Hashrate: 1.24 GH/s
Block Reward: 100,000.00

Potcoin (POT)
Network Hashrate: 2.71 GH/s
Block Reward: 420.00

pw, where are you? where comments?

[zneww]

JHammer, you really should stop being so critical of everything. If you want it how you want it, make your own pool. You have a gripe with every pool?

Your right.. As I am making freaking twice as much here as I was at that lame pool you pimp..  CoinSolver..

What are you even doing in this thread..  Go back to CoinSlover where you make 0.0021 per MH's per day..

 

lollllll

Well for one, it is annoying as dog shit watching you bitch on EVERY post. I am not defending CS or anything I am just saying to stop commenting uselessness. I am sure you are making a "killing" over $1 a day........I am a pimp, let me dust my shoulders off. Who says that...lol I help people when I can in these forums...i didn't know I was locked to one threads. Thanks, come again. As for you gtaah, keep laughing


Can I see your twice as much as well? lolol

EDIT: and what a surprise it is JHammer and gtaah bitcheing about stuff. Shocker.

[suchmoon]

I have been thinking...

One solution to my power problem, is to change slowly my machines for some usb asic crap...

If they cost $70 per stick for 330khash, 10 will do $700 (cost of a system) and do 3.3 mhash.
Ofc they are not that fast, but for me is a deal breaker.... 70W of power consuption and no heat or noise...

I might change all my rigs alltogheter...

They could really help on these hard times of low profitability... because they remove the killer element of the equation... (the power bill!).

What do you guy´s think?

And btw where can i get those gridseed usb sticks?

Best Regards,

LPC

The only Scrypt ASIC available now is Gridseed, and these cost $150-200 for 330 KH/s, not $70, and are not USB "sticks". There is a USB stick for ~$70 but it can do only ~60 KH/s.

[poolwaffle]

Reddcoin (RDD)
Network Hashrate: 1.24 GH/s
Block Reward: 100,000.00

Potcoin (POT)
Network Hashrate: 2.71 GH/s
Block Reward: 420.00

pw, where are you? where comments?

Reddcoin is enabled. Its not being mined because the switcher isn't choosing it (its not profitable).  I'm extremely hesitant to add POTcoin... A week or so ago when we had users hijacked (scroll back to find the posts), the only reference to the hijacker's IP was in the POTcoin code.  Doesn't make me at all excited to add it.

[poolwaffle]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

[elpsycongro]

I have been thinking...

One solution to my power problem, is to change slowly my machines for some usb asic crap...

If they cost $70 per stick for 330khash, 10 will do $700 (cost of a system) and do 3.3 mhash.
Ofc they are not that fast, but for me is a deal breaker.... 70W of power consuption and no heat or noise...

I might change all my rigs alltogheter...

They could really help on these hard times of low profitability... because they remove the killer element of the equation... (the power bill!).

What do you guy´s think?

And btw where can i get those gridseed usb sticks?

Best Regards,

LPC

The only Scrypt ASIC available now is Gridseed, and these cost $150-200 for 330 KH/s, not $70, and are not USB "sticks". There is a USB stick for ~$70 but it can do only ~60 KH/s.

interesting i saw those on ebay ,they do suposedly 70 KH/s for 59.99 or 5 of those for 300 can do 350 KH/s  but 1 grid seed alone can do that for less so those are kinda of rip off if they ever got cheaper i guess it would be ok due to the low power consumption but they would have to be like half the price they currently are asking for.

[libbyporit]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

I've got no issue with this. I think you've been quite open and transparent since the pool opened. 2% is excellent. Thanks for your work!

[comeonalready]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Is this advance notice of a rate increase coming soon, or have you already implemented it?  (Not that it is not fair, but so is advance notice.)

[poolwaffle]

I've got no issue with this. I think you've been quite open and transparent since the pool opened. 2% is excellent. Thanks for your work!

Thanks!

Is this advance notice of a rate increase coming soon, or have you already implemented it?  (Not that it is not fair, but so is advance notice.)

This is advance notice.  I'm not sure when it will actually go up, possibly later tonight, possibly tomorrow, depends on how much real-job work I have to finish today

[carafleur]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Hi,
thank you for your honesty and clear explanation of your choice.
I switched to your pool today because another profit-switching-pool was being DDos'ed, and at the moment my hashrate went at his top, the fees had been raised...!
Too bad for me, I should have jumped into your boat earlier
Thanks for your work anyway, keep it on the way you do it (because you like it), and don't be afraid to get paid for it : miners like me take a hard time to optimize their rigs, and each tiny % of real work accepted by a pool is like a little victory. So it's better for us if you keep the pool out of ddos and 99.999% up, and this has a cost.

[eonprotocol]

I would rather pay 2% than have no waffle at all. Keep up the good work, and remember to get some sleep 

[DrunkenDonkey]

I'm game. Expected to happen long ago, it is normal to be payed for your work.

[WireIT]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

I've got no issue with this. I think you've been quite open and transparent since the pool opened. 2% is excellent. Thanks for your work!

+1

[Stenull]

2%??? I have thought it was 3% sense I started mining here ~3 weeks ago
Keep up the good work champ!

[suchmoon]

interesting i saw those on ebay ,they do suposedly 70 KH/s for 59.99 or 5 of those for 300 can do 350 KH/s  but 1 grid seed alone can do that for less so those are kinda of rip off if they ever got cheaper i guess it would be ok due to the low power consumption but they would have to be like half the price they currently are asking for.

The 60 KH/s (or 70 KH/s or whatever) USB sticks are not cost effective and are not supposed to be. They are more like toys. Just to clarify, they are all gridseed devices, at least I'm not aware of anybody else making them. The USB stick has one ASIC chip in it, the larger device has 5 of the same chips, hence 5 times the performance. The larger device also connects via USB but requires a separate power supply. They were selling for $250-300 not long ago, so it's a race to the bottom now.

[JHammer]

JHammer, you really should stop being so critical of everything. If you want it how you want it, make your own pool. You have a gripe with every pool?

Your right.. As I am making freaking twice as much here as I was at that lame pool you pimp..  CoinSolver..

What are you even doing in this thread..  Go back to CoinSlover where you make 0.0021 per MH's per day..

 

lollllll

Well for one, it is annoying as dog shit watching you bitch on EVERY post. I am not defending CS or anything I am just saying to stop commenting uselessness. I am sure you are making a "killing" over $1 a day........I am a pimp, let me dust my shoulders off. Who says that...lol I help people when I can in these forums...i didn't know I was locked to one threads. Thanks, come again. As for you gtaah, keep laughing


Can I see your twice as much as well? lolol

EDIT: and what a surprise it is JHammer and gtaah bitcheing about stuff. Shocker.

You obviously have a serious mental disorder and I hope your seeking treatment for it.. 

[suchmoon]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

This is the end of WP and all multipools and the world as we know it.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

[JHammer]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

I've got no issue with this. I think you've been quite open and transparent since the pool opened. 2% is excellent. Thanks for your work!

Agree 100%.

[LPCobris]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

HI PW, i completly understand your situation, i have the same feeling but in another case, when the profits allmost don´t cover the electricity bill...
I have been fighting myself about what to do with all my money invested....

Some times im like you "fuck this"... By i still have hopes that the profits can come up and still be able to keep at least recup the investment (im not rich im just a guy trying to live...).
So in the end, i believe 2% is perfectly fair (1.5% you be more adequade), so be it!

Sorry for my poor english, this is not my native language, so im trying to convey my message the best i can!

Keep up the good work (and think about and Scrypt-N pool alternative too).

Best Regards,

LPC