Eligius: 0% Fee BTC, 105% PPS NMC, No registration, CPPSRB

[wizkid057]

I've been trying to limit the number of manual payouts done to one or two per month unless absolutely needed.

Since the top of the queue is about a week old at this point, I'll make sure to get one done this weekend.

[wizkid057]

Did a partial manual payout to knock out all of the dust people have been bugging about (people with < 0.01 BTC balances) and the top ~7 blocks of the payout queue from the one offline wallet.  Will get to the rest tomorrow.

[Ron~Popeil]

Did a partial manual payout to knock out all of the dust people have been bugging about (people with < 0.01 BTC balances) and the top ~7 blocks of the payout queue from the one offline wallet.  Will get to the rest tomorrow.

I just saw a payment hit my wallet from you guys. I didn't realize I had any there but thanks for sending it.

[PlanetCrypto]

So I think I got this payout queue threshold thingy wrong.

Would like some recommendations given the following:
Hashing @ 2.2 - 2.3 TH/s
Would like to be paid every 2 - 3 days.

Thanks in advance from a noob.

See link in my sig for payout threshold explanation.  TLDR version: the higher you set your threshold, the sooner you will likely be paid once you hit it.  If your threshold is low (1 day's worth or less) then you could easily see a 2-3 day variance in payouts.

Thanks, sorry to be so redundant. Interesting reading. Maybe make that explanation a sticky? Then it could a RTMFP, lol.

[baddw]

So I think I got this payout queue threshold thingy wrong.

Would like some recommendations given the following:
Hashing @ 2.2 - 2.3 TH/s
Would like to be paid every 2 - 3 days.

Thanks in advance from a noob.

See link in my sig for payout threshold explanation.  TLDR version: the higher you set your threshold, the sooner you will likely be paid once you hit it.  If your threshold is low (1 day's worth or less) then you could easily see a 2-3 day variance in payouts.

Thanks, sorry to be so redundant. Interesting reading. Maybe make that explanation a sticky? Then it could a RTMFP, lol.

Well, there's a reason I put it in my sig: I got tired of having the same thing explained several times a week.  You're far from the only one.

[Bitskint]

Any chance someone could explain the threshold/payment queue and how payments are made and when ??


















Thanks for the payout WK

[jcumins]

Wizkid

I submitted a ticket to change my payout threshold to a much larger value.

I am not able to set a signature for my address due to the fact i use coinbase for my wallet.

I have not received any feed back if it has been completed or not.

Please get back to me I would really like to increase the min pay out amount from the default.

Thanks

[wizkid057]

Wizkid

I submitted a ticket to change my payout threshold to a much larger value.

I am not able to set a signature for my address due to the fact i use coinbase for my wallet.

I have not received any feed back if it has been completed or not.

Please get back to me I would really like to increase the min pay out amount from the default.

Thanks

I have no ability to override signed options or set options without signatures, for security purposes.

Coinbase does allow message signing,  although using any online wallet is generally just not recommended

[jonnybravo0311]

Wizkid

I submitted a ticket to change my payout threshold to a much larger value.

I am not able to set a signature for my address due to the fact i use coinbase for my wallet.

I have not received any feed back if it has been completed or not.

Please get back to me I would really like to increase the min pay out amount from the default.

Thanks

I have no ability to override signed options or set options without signatures, for security purposes.

Coinbase does allow message signing,  although using any online wallet is generally just not recommended

To sign a message with your coinbase wallet, go to "Settings" and click on "Bitcoin Addresses".  You will see a list of your addresses.  Find the one you use for Eligius in the list and click on "Details".  You can see the details of that address, including a QR code.  Towards the bottom, you'll see, "You can also sign a message with this address."  Click that link and a text box will appear.  Put in the details you need and click "Sign Message".  The signature will appear right below the text box.  Copy and paste it into your Eligius settings.

You can also follow the instructions here: http://support.coinbase.com/customer/portal/articles/1526413-how-do-i-sign-a-message-with-a-bitcoin-address-

Hope this helps.

[jcumins]

Thanks for the feed back everyone.  Just got that completed.

On another note going to be a long weekend with low luck rates again.  Glad I a not in Las Vegas with these low luck rates.

[un_ordinateur]

So I think I got this payout queue threshold thingy wrong.

Would like some recommendations given the following:
Hashing @ 2.2 - 2.3 TH/s
Would like to be paid every 2 - 3 days.

Thanks in advance from a noob.

See link in my sig for payout threshold explanation.  TLDR version: the higher you set your threshold, the sooner you will likely be paid once you hit it.  If your threshold is low (1 day's worth or less) then you could easily see a 2-3 day variance in payouts.

Thanks, sorry to be so redundant. Interesting reading. Maybe make that explanation a sticky? Then it could a RTMFP, lol.

Well, there's a reason I put it in my sig: I got tired of having the same thing explained several times a week.  You're far from the only one.

I just read your explanation: Very well done!

I just have a suggestion for a small improvement: You should make it clear that "shelved shares" represent an amount of work the pool recognises you have done but have not yet paid, for it has never found enough block to pay for them. So "shelved shares" are, by themselves, worthless; they do not reprensent an amount of coins the pool "owes" to you. They will, however, be payed in a "best effort" basis, as soon the pool finds coins to cover them, if it ever does.

On the other hand, your account balance reprensents coins the pool "owes" to you; that it has found enough money to pay for. The whole "account balance" thing, and payout treshold, is not essential to the CPPSRB system; in fact, miners could always be payed for their rewarded shares immediately, every time a block is found. This would, however, result in HUGE generation transaction with thousands of outputs, most of which are ridiculously small amounts. Although valid by the bitcoin rules, this would be undesirable because a) Certain clients have a bug in their handling of transactions with too many outputs, and b) The miners wallets would be made of hundreds of small amount outputs; when they will be spent, all these outputs will need to be merged in a single big transaction that will cost a lot in transaction fees to the miner.

So Eligius' operators have found preferable to delay the payout of rewarded shares until a reasonable amount has been accumulated by a miner. However, while the payout is delayed; the pool HAS that money on hand, and so, if it were to ever close down, it should have enough money in it's offline wallet to cover every miners' balances. (And none of their shelved share) One can check the balance of the offline wallet address (18d3HV2bm94UyY4a9DrPfoZ17sXuiDQq2B) and quickly check that it has enough money to pay for the entire payout queue (http://eligius.st/~wizkid057/newstats/payoutqueue.php/), the remainder being the balance of all the miners who have not yet crossed their treshold.

[wizkid057]

Keep in mind that the balance of 18d3HV2bm94UyY4a9DrPfoZ17sXuiDQq2B is not necessarily representative of the amount of funds Eligius does or does not have on hand.  A few factors impact this, some of which are: there are multiple offline wallets, normal random change addresses when sending manual payouts, shifting of funds between offline wallets, etc.

However, Eligius does indeed have the funds on hand at any given time to pay everyone's "As of last block" balance, which is the unpaid amount owed by Eligius to the miners.  The payout queue actually is calculated in near-realtime by the reward system, and coinbase payouts include estimates for the current block as well (which would not be able to be included in an Eligius-closure payout, obviously, since the block wasn't found).  A scheduled Eligius closure would likely have to occur on a block boundary, so no shares would be accepted after a block was found and balances updated.

The exact figures for all of this are derivable from the public APIs.

Just to note, Eligius is not closing and I have no intention of closing it...

[jgu1394]

Did a partial manual payout to knock out all of the dust people have been bugging about (people with < 0.01 BTC balances) and the top ~7 blocks of the payout queue from the one offline wallet.  Will get to the rest tomorrow.

still waiting 

[crashoveride54902]

Keep in mind that the balance of 18d3HV2bm94UyY4a9DrPfoZ17sXuiDQq2B is not necessarily representative of the amount of funds Eligius does or does not have on hand.  A few factors impact this, some of which are: there are multiple offline wallets, normal random change addresses when sending manual payouts, shifting of funds between offline wallets, etc.

However, Eligius does indeed have the funds on hand at any given time to pay everyone's "As of last block" balance, which is the unpaid amount owed by Eligius to the miners.  The payout queue actually is calculated in near-realtime by the reward system, and coinbase payouts include estimates for the current block as well (which would not be able to be included in an Eligius-closure payout, obviously, since the block wasn't found).  A scheduled Eligius closure would likely have to occur on a block boundary, so no shares would be accepted after a block was found and balances updated.

The exact figures for all of this are derivable from the public APIs.

Just to note, Eligius is not closing and I have no intention of closing it...

good deal and i hope you never do have an intention of it

[baddw]

So I think I got this payout queue threshold thingy wrong.

Would like some recommendations given the following:
Hashing @ 2.2 - 2.3 TH/s
Would like to be paid every 2 - 3 days.

Thanks in advance from a noob.

See link in my sig for payout threshold explanation.  TLDR version: the higher you set your threshold, the sooner you will likely be paid once you hit it.  If your threshold is low (1 day's worth or less) then you could easily see a 2-3 day variance in payouts.

Thanks, sorry to be so redundant. Interesting reading. Maybe make that explanation a sticky? Then it could a RTMFP, lol.

Well, there's a reason I put it in my sig: I got tired of having the same thing explained several times a week.  You're far from the only one.

I just read your explanation: Very well done!

I just have a suggestion for a small improvement: You should make it clear that "shelved shares" represent an amount of work the pool recognises you have done but have not yet paid, for it has never found enough block to pay for them. So "shelved shares" are, by themselves, worthless; they do not reprensent an amount of coins the pool "owes" to you. They will, however, be payed in a "best effort" basis, as soon the pool finds coins to cover them, if it ever does.

On the other hand, your account balance reprensents coins the pool "owes" to you; that it has found enough money to pay for. The whole "account balance" thing, and payout treshold, is not essential to the CPPSRB system; in fact, miners could always be payed for their rewarded shares immediately, every time a block is found. This would, however, result in HUGE generation transaction with thousands of outputs, most of which are ridiculously small amounts. Although valid by the bitcoin rules, this would be undesirable because a) Certain clients have a bug in their handling of transactions with too many outputs, and b) The miners wallets would be made of hundreds of small amount outputs; when they will be spent, all these outputs will need to be merged in a single big transaction that will cost a lot in transaction fees to the miner.

So Eligius' operators have found preferable to delay the payout of rewarded shares until a reasonable amount has been accumulated by a miner. However, while the payout is delayed; the pool HAS that money on hand, and so, if it were to ever close down, it should have enough money in it's offline wallet to cover every miners' balances. (And none of their shelved share) One can check the balance of the offline wallet address (18d3HV2bm94UyY4a9DrPfoZ17sXuiDQq2B) and quickly check that it has enough money to pay for the entire payout queue (http://eligius.st/~wizkid057/newstats/payoutqueue.php/), the remainder being the balance of all the miners who have not yet crossed their treshold.

Thanks un_ordinateur and wizkid for the information!  I will update the explanation post with this information when I get the chance.  Of course, most of the explanation is already cribbed from stuff that you two (and many others) have posted; my goal is simply to gather it all in the same place for easy reference.  "Owes" vs. "best effort" is an important distinction, and the fact that the payout queue/threshold is not essential to the system (which I had never considered before, although it makes perfect sense) will hopefully help illuminate and elucidate the pool's mechanisms for many people.

[wizkid057]

524.98485241 BTC in manual payments applied to balances from tx 572105a45194e568f0607e68fe917d47e4089d0cbbfbcca6b96928e6cb2305fa

Payout queue cleared

[jgu1394]

524.98485241 BTC in manual payments applied to balances from tx 572105a45194e568f0607e68fe917d47e4089d0cbbfbcca6b96928e6cb2305fa

Payout queue cleared

Great , thanks ! 

[DeeBo]

524.98485241 BTC in manual payments applied to balances from tx 572105a45194e568f0607e68fe917d47e4089d0cbbfbcca6b96928e6cb2305fa

Payout queue cleared

Wow, very nice.  I can confirm that I got my payout from this transaction.  That alleviates all my concerns from my post last week about the growing payout queue.  I was considering hopping to another pool but now I'm glad I didn't.  Appreciate the fine work.  Will be sticking on Eligius for the forseeable future   

[georgem]

I don't get it....

Why are there now so many smaller payments, like every 1-2 days...
And last month I had to wait on average 5-10 days until a large payment was made.

What is the reason for this? I am not complaining, just trying to understand.

So from now on we can expect faster payments?

[Biomech]

I don't get it....

Why are there now so many smaller payments, like every 1-2 days...
And last month I had to wait on average 5-10 days until a large payment was made.

What is the reason for this? I am not complaining, just trying to understand.

So from now on we can expect faster payments?

Eligius goes in waves

It seems all goes well for a while, then something gets borked in the frontend, payments pile up, Whizkid does a manual payout... wash, rinse, repeat. Just the character of the pool.