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Author Topic: [CLOSED] BTC Guild - Pays TxFees+NMC, Stratum, VarDiff, Private Servers  (Read 828374 times)
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eleuthria
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December 18, 2013, 03:09:16 AM
 #5021

Any chance of introducing other merged mining coins, kinda like ghash.io is doing?

DVC/IXC are truly worthless.  They would be even more worthless if BTC Guild bothered to merge mine them and roughly doubled their difficulty again.

Knowing the load that altcoin daemons put on servers (because they all use extremely old bitcoin forks), I'm pretty convinced that you end up hurting your earnings more than they will add to them just due to the increased rate of stales/time to perform longpolls/work restarts.  Combined they don't even add up to 0.1% additional earnings *at current difficulty*.

Of all the scamcoins/altcoins out there, the only one that is actually something new/useful is Namecoin, even though I'm personally not a major fan of it.  But all the others are mindless clones of Bitcoin that bring nothing worthwhile to the table.  At least Namecoin was designed to do something outside of a cash grab.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
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Gyrsur
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December 18, 2013, 04:02:13 AM
 #5022

Such bad luck lately... brought our average down to 102%.

The luck today has been really good, so things are turning around!
don't mention luck in any case. Wink

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December 18, 2013, 05:33:37 AM
 #5023

Any chance of introducing other merged mining coins, kinda like ghash.io is doing?

DVC/IXC are truly worthless.  They would be even more worthless if BTC Guild bothered to merge mine them and roughly doubled their difficulty again.

Knowing the load that altcoin daemons put on servers (because they all use extremely old bitcoin forks), I'm pretty convinced that you end up hurting your earnings more than they will add to them just due to the increased rate of stales/time to perform longpolls/work restarts.  Combined they don't even add up to 0.1% additional earnings *at current difficulty*.

Of all the scamcoins/altcoins out there, the only one that is actually something new/useful is Namecoin, even though I'm personally not a major fan of it.  But all the others are mindless clones of Bitcoin that bring nothing worthwhile to the table.  At least Namecoin was designed to do something outside of a cash grab.

Yeah I guess you're right. But I'm wondering what you think about PPC (aka peercoin). Useless?

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December 18, 2013, 08:34:21 AM
 #5024

Any chance of introducing other merged mining coins, kinda like ghash.io is doing?

DVC/IXC are truly worthless.  They would be even more worthless if BTC Guild bothered to merge mine them and roughly doubled their difficulty again.

Knowing the load that altcoin daemons put on servers (because they all use extremely old bitcoin forks), I'm pretty convinced that you end up hurting your earnings more than they will add to them just due to the increased rate of stales/time to perform longpolls/work restarts.  Combined they don't even add up to 0.1% additional earnings *at current difficulty*.

Of all the scamcoins/altcoins out there, the only one that is actually something new/useful is Namecoin, even though I'm personally not a major fan of it.  But all the others are mindless clones of Bitcoin that bring nothing worthwhile to the table.  At least Namecoin was designed to do something outside of a cash grab.

Yeah I guess you're right. But I'm wondering what you think about PPC (aka peercoin). Useless?

Don't believe that can be piggybacked onto BTC.

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December 18, 2013, 09:23:40 AM
 #5025

Any chance of introducing other merged mining coins, kinda like ghash.io is doing?

DVC/IXC are truly worthless.  They would be even more worthless if BTC Guild bothered to merge mine them and roughly doubled their difficulty again.

Knowing the load that altcoin daemons put on servers (because they all use extremely old bitcoin forks), I'm pretty convinced that you end up hurting your earnings more than they will add to them just due to the increased rate of stales/time to perform longpolls/work restarts.  Combined they don't even add up to 0.1% additional earnings *at current difficulty*.

Of all the scamcoins/altcoins out there, the only one that is actually something new/useful is Namecoin, even though I'm personally not a major fan of it.  But all the others are mindless clones of Bitcoin that bring nothing worthwhile to the table.  At least Namecoin was designed to do something outside of a cash grab.

Yeah I guess you're right. But I'm wondering what you think about PPC (aka peercoin). Useless?

Don't believe that can be piggybacked onto BTC.

Hmm, yeah ooops, forgot about that. It uses a hybrid proof of work/proof of stake system which makes it too different from bitcoin to be piggybacked on to it like all the other clonecoins.

Anyways, I'm gonna drop this subject as it seems from a sha-256 perspective btc and nmc should be enough. IXC should die in a fire like i0coin.


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December 18, 2013, 04:26:05 PM
 #5026

Am I looking at BC.I correctly? Did btcguild really mine 10 or so blocks in a row?

BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
os2sam
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December 18, 2013, 04:37:23 PM
 #5027

Am I looking at BC.I correctly? Did btcguild really mine 10 or so blocks in a row?

Looks like 11 to me.  What of it?

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
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December 18, 2013, 04:41:26 PM
 #5028

Am I looking at BC.I correctly? Did btcguild really mine 10 or so blocks in a row?

Looks like 11 to me.  What of it?

what's going on slave tards!?!  Grin

http://blockorigin.pfoe.be/blocklist.php


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December 18, 2013, 04:55:26 PM
 #5029

Am I looking at BC.I correctly? Did btcguild really mine 10 or so blocks in a row?

Looks like 11 to me.  What of it?

what's going on slave tards!?!  Grin

Umm, no idea what that is supposed to mean?

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
eleuthria
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December 18, 2013, 04:58:30 PM
 #5030

Uhm...somebody call in organofcorti.  I want to know how astronomically large the odds are that 25-28% of the network hash rate manages to pull off 11 blocks in a row!

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
os2sam
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December 18, 2013, 05:02:33 PM
 #5031

Uhm...somebody call in organofcorti.  I want to know how astronomically large the odds are that 25-28% of the network hash rate manages to pull off 11 blocks in a row!

I'm sure his Red Alert klaxon went off after the 7th block.

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
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December 18, 2013, 10:31:48 PM
 #5032

much amaze

such wow

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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December 18, 2013, 10:48:34 PM
 #5033

keep it up.  Need to get back to 104%+  Grin

organofcorti
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December 19, 2013, 01:00:56 AM
 #5034

Uhm...somebody call in organofcorti.  I want to know how astronomically large the odds are that 25-28% of the network hash rate manages to pull off 11 blocks in a row!


Wow, I thought there'd be some huge hue and cry about this. Plus one to the mining fraternity for not freaking out.

The chances of this happening? The easiest way to consider it is as a shifted geometrically distributed random number, like the number of shares it takes to solve a round, where p = 1 - 0.25. The probability of winning less than or equal to n wins in a row is:

Code:
1 - (1 - p)^n

using p = 1 - 0.25, and n = 11, this is ~ 0.9999998. This means that 99.99998 times out of a hundred runs of blocks in a row, the number of blocks in a row will be less than or equal to 11 for a pool with 25% of the network.

Alternatively, just to make clear unlikely 11 blocks in a row is for a pool at 25% of the network, the upper tail probability for more than 10 blocks in a row is (1 - p)^10 ~ 0.000001, meaning that it would be likely to happen once in a million runs of blocks in a row.

These values for other pool percentages of the network are:

Code:
  Percentage of the network less than 11 in a row more than 10 in a row
                      25 %           99.999976 %          0.00009537 %
                      28 %           99.999917 %          0.00029620 %
                      30 %           99.999823 %          0.00059049 %
                      35 %           99.999035 %          0.00275855 %
                      40 %           99.995806 %          0.01048576 %
                      45 %           99.984677 %          0.03405063 %
                      50 %           99.951172 %          0.09765625 %

To have a 50-50 chance of a run of blocks lasting more than 10 in a row the pool percentage of the network needs to be:

Code:
0.5 = (1 - p)^10
p = 1 - 0.5^(1/10)
p = 0.06696701
percentage of network = (1 - 0.06696701)*100 ~ 93.3%


So in order for a pool pool to have a 50-50 chance of winning more than 10 blocks in a row, they'd need to have 93.3% of the network.

(the above ignores differences in the various pools' orphan rates)


I'm sure his Red Alert klaxon went off after the 7th block.

I was asleep, and my missus has made me turn the klaxon off during the night. The flashing red light and low voltage taser weren't enough to wake me, unfortunately.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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eleuthria
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December 19, 2013, 01:26:55 AM
 #5035

Uhm...somebody call in organofcorti.  I want to know how astronomically large the odds are that 25-28% of the network hash rate manages to pull off 11 blocks in a row!

Wow, I thought there'd be some huge hue and cry about this. Plus one to the mining fraternity for not freaking out.

The chances of this happening? The easiest way to consider it is as a shifted geometrically distributed random number, like the number of shares it takes to solve a round, where p = 1 - 0.25. The probability of winning less than or equal to n wins in a row is:

Code:
1 - (1 - p)^n

using p = 1 - 0.25, and n = 11, this is ~ 0.9999998. This means that 99.99998 times out of a hundred runs of blocks in a row, the number of blocks in a row will be less than or equal to 11 for a pool with 25% of the network.

Alternatively, just to make clear unlikely 11 blocks in a row is for a pool at 25% of the network, the upper tail probability for more than 10 blocks in a row is (1 - p)^10 ~ 0.000001, meaning that it would be likely to happen once in a million runs of blocks in a row.

Thanks for the insight.  I'm a bit surprised at the lack of uproar myself.  It's probably because reddit is currently on hold with the suicide hotline after today's crash, so they had to pause their Guild-hating posts for a day or two.

EDIT/UPDATE:  For those not aware (since it may have changed by the time you see this), the top post in /r/bitcoin was a number for the Suicide Hotline this morning, and it was there for the majority of the day.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
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December 19, 2013, 02:06:35 AM
 #5036

rofl

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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December 19, 2013, 03:05:02 AM
 #5037

It's probably because reddit is currently on hold with the suicide hotline after today's crash

Bitcoin price dipping below $600 is considered a crash?

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
eleuthria
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December 19, 2013, 03:15:23 AM
 #5038

It's probably because reddit is currently on hold with the suicide hotline after today's crash

Bitcoin price dipping below $600 is considered a crash?

Yeah...but it's reddit posters.  Long term memory isn't their strong suit.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
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December 19, 2013, 02:17:58 PM
 #5039

There appears to be a problem with the website this morning?

Secure Connection Failed

An error occurred during a connection to www.btcguild.com. The OCSP server has no status for the certificate. (Error code: sec_error_ocsp_unknown_cert)

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December 19, 2013, 02:38:56 PM
 #5040

There appears to be a problem with the website this morning?

Secure Connection Failed

An error occurred during a connection to www.btcguild.com. The OCSP server has no status for the certificate. (Error code: sec_error_ocsp_unknown_cert)

I'm seeing this too, must just be a website issue, all my rigs are still mining. I'm sure he'll be on it soon.
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