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Poll
Question: Why do you mine on deepbit?
Because everybody mine there
Because I thought it invests the earned money in good anti-DDoS firewall
Because my friend told me
Because it has sound name
Because Tycho is a good man
Are there more pools!!??

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Author Topic: Why do you mine on deepbit?  (Read 7349 times)
Shevek
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October 13, 2011, 01:31:27 PM
 #1

I'm really shocked about how many people still mine on deepbit: big fees, no 8-decimal pays, no particular clear interface, no repayment after leaving, risk of deepbit getting more than 50% hash power... with the result it is the most powerful pool.

On the other hand, somebody could think they are using the income in good DDoS-reluctant counter measures, so those disadvantages are a worthy price for security. But the early catastrophe proves this is not true.

That is why I launch the poll, because I'm really curious about the matter of advantages mining in deepbit, even as a backup pool. Feel free to answer here, if your option is not in the poll.

Proposals for improving bitcoin are like asses: everybody has one
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October 13, 2011, 01:35:22 PM
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I'm really shocked about how many people still mine on deepbit: big fees, no 8-decimal pays, no particular clear interface, no repayment after leaving, risk of deepbit getting more than 50% hash power... with the result it is the most powerful pool.

On the other hand, somebody could think they are using the income in good DDoS-reluctant counter measures, so those disadvantages are a worthy price for security. But the early catastrophe proves this is not true.

That is why I launch the poll, because I'm really curious about the matter of advantages mining in deepbit, even as a backup pool. Feel free to answer here, if your option is not in the poll.

They payout 8 decimals... 3% isn't that big of a fee if you factor in invalids being paid out. The interface is alot easier to figure than some of these smaller pools. And for the most part its a stable pool.

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Jezzz
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October 13, 2011, 01:55:26 PM
 #3

I declare this "try a smaller pool day".
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October 13, 2011, 02:05:33 PM
 #4

I declare this "try a smaller pool day".
sure is a good time to look around at options Smiley

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October 13, 2011, 02:13:13 PM
 #5

dunno why....  I'm addicted   Embarrassed

and there is an iphone app or smth

Hodling since 2011.®
Jezzz
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October 13, 2011, 02:23:25 PM
 #6

dunno why....  I'm addicted   Embarrassed

and there is an iphone app or smth

RFCpool has iphone, android & windows apps.  FWIW.
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October 13, 2011, 02:37:03 PM
 #7

Why do you eat at McD?
Why do you watch TV?
Why do you buy an Iphone?
Why do you use Google?
Why do you drink?
Why do you smoke?
Why do you vote for a mainline party?
Why do you use Facebook?
Why do you code in Java?
Why do you still use USD/EUR?.....

... all different instances of the same phenomena if we were to understand that the world would be a so much better place. Smiley

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
bitlane
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October 13, 2011, 06:05:21 PM
 #8

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

...and still only 80-90 GH/s for the most part. Where is everyone ?

For the reasons given above, noone should be PPS mining at Deepbit any longer and move their rigs to BTCG immediately, even if only for the 3% increased earnings immediately.....and in this BTC Economy, every %% counts.

I am not affiliated with either pool....I'm just a cheap-ass miner who is happy with BTCG.

http://pps.btcguild.com


Shevek
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October 13, 2011, 06:20:41 PM
 #9

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

This is an insane big fee.

Proposals for improving bitcoin are like asses: everybody has one
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bitlane
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October 13, 2011, 06:33:04 PM
 #10

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

This is an insane big fee.
Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

BTC Guild PPS is unbeatable in that respect.

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October 13, 2011, 06:46:26 PM
 #11

Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

BTC Guild PPS is unbeatable in that respect.

abcpool.co has 0% PPS AND they pay for stale shares. It's remarkebly stable and my invalids are always a quarter of a percent. I've been mining there for over a month and its a dream pool.

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bitlane
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October 13, 2011, 06:57:39 PM
 #12

Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

BTC Guild PPS is unbeatable in that respect.

abcpool.co has 0% PPS AND they pay for stale shares. It's remarkebly stable and my invalids are always a quarter of a percent. I've been mining there for over a month and its a dream pool.
0% Fee, Pays for Stales......In this Difficulty ?
Be realistic, how long can you expect a pool with that payment model to be around for ? ....till the owner starts having to support it out of his own pocket ?
With it's current hashrate and not using difficult math to explain things, that pool needs to find 2.5 Blocks per day just to stay alive and pay it's users, not to mention the overhead.

Even established pools such as MTred have felt the 'pinch' as of late, but then again, ABC might not offer multiple payout methods....

Not to say anything bad about the pool, but, I just can't see the longevity in it.

bitlane
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October 13, 2011, 07:06:38 PM
 #13

What is ABC's current payout per share ?

PatrickHarnett
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October 13, 2011, 07:18:10 PM
 #14

I mine on deepbit (less at the moment than I used to) because it worked when I was setting up, the relative size helped with variance of block discovery rate, and the 3% fee was fairly modest.  I have mined in other pools on alt-chains for fun, but nothing serious.

I notice that deepbit has its share of detractors and it might be an easy target because it is large and mines the largest share of coins.  The latest events don't mask that other pools have had problems in the past.
Shevek
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October 13, 2011, 07:21:00 PM
 #15

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

This is an insane big fee.
Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

No, compared to 0% fee of arsbitcoin and eligius, 7% is infinitely big.

About waiting: I'm not hurry.

About stability: BTCguild has a black past managing DDoS.

Proposals for improving bitcoin are like asses: everybody has one
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bitlane
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October 13, 2011, 08:02:41 PM
 #16

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

This is an insane big fee.
Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

No, compared to 0% fee of arsbitcoin and eligius, 7% is infinitely big.

About waiting: I'm not hurry.

About stability: BTCguild has a black past managing DDoS.
Must I really say P P S once again ?

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October 13, 2011, 08:04:06 PM
 #17

For those who PPS mine, BTC Guild's PPS Pool is by far the best in terms of performance, stability and payout options. I don't understand why more people don't use it.

- Instant payouts (no waiting for a block to end, no confirmations...just a running total of your earnings available at any time).
- Insanely LOW Stales etc.....like INSANELY LOW (4/4000 shares ON A BAD DAY, for me anyways...closer to 4/40000 most times).
- Established Pool with history.
- Standard 7% PPS Fee.

This is an insane big fee.
Compared to the 10% PPS Fee @ Deepbit ? ....... What PURE-PPS Pools offer a lower fee with stability and under 1% Stale count ? ..not to mention, paying out for bad blocks.....IMMEDIATELY, no wait.

No, compared to 0% fee of arsbitcoin and eligius, 7% is infinitely big.

About waiting: I'm not hurry.

About stability: BTCguild has a black past managing DDoS.
Ars and Eligius are not PURE PPS.  There is no payout buffer involved with the PPS pool as there is with SMPPS.

And a black past managing DDoS?  The first major DDoSes were in June.  Deepbit was down longer than BTC Guild.  In July we were specifically targetted, and I took my vacation days at my day job to manage the situation as best as ANY pool admin could.  This time?  We've had the most uptime of the big 3.

Not to mention the post was referring to our PPS pool, which has only had downtime when a planned upgrade to the pool server software was done (and that downtime was measurable in seconds).

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
Shevek
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October 13, 2011, 08:34:42 PM
 #18

No, compared to 0% fee of arsbitcoin and eligius, 7% is infinitely big.

About waiting: I'm not hurry.

About stability: BTCguild has a black past managing DDoS.
Must I really say P P S once again ?

P U R E - P P S makes no difference at all with SMPPS, except for payment delay. I don't want to pay a 7% tax (or 10% in deepbit) for some hours waiting for my BTCs.

Proposals for improving bitcoin are like asses: everybody has one
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October 13, 2011, 08:47:48 PM
 #19

No, compared to 0% fee of arsbitcoin and eligius, 7% is infinitely big.

About waiting: I'm not hurry.

About stability: BTCguild has a black past managing DDoS.
Must I really say P P S once again ?

P U R E - P P S makes no difference at all with SMPPS, except for payment delay. I don't want to pay a 7% tax (or 10% in deepbit) for some hours waiting for my BTCs.

There is a big difference with SMPPS.  With SMPPS it is laid out ahead of time that your rewards won't be paid out at full rates (delayed/backpay) if the pool has extended bad luck and eats through the buffer it built up from good luck.  You will be waiting on your rewards until the pool has enough good luck to end up positive again.  Pure PPS makes no such arrangements.  Either the pool shuts down when it can't pay out its stated rewards, or it pays it out of its own pocket.

SMPPS is just proportional with capped rewards, unless the owner puts money from their own pocket in during bad luck.  At which point they may as well have been pure PPS to get rid of the fine print.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
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October 13, 2011, 09:03:25 PM
 #20

I never mined at deepbit.

Only slush and eligius so far.           

And, yes, thos 7-10% taxes are craaaazy Cheesy
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