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Author Topic: [CLOSED] BTC Guild - Pays TxFees+NMC, Stratum, VarDiff, Private Servers  (Read 828552 times)
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ManeBjorn
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June 15, 2015, 11:59:39 PM
 #8281

This is a sad day.
I'm sorry it came to this.
BitLicense is a mess that harms everyone. Organized block withholding attacks are also a nasty reality of the current ecosystem.
It won't be long before more centralization happens. Not a good thing.
Thanks for always being professional and maintaining a solid pool that has been a cornerstone for so long.

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cypherdoc
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June 16, 2015, 12:05:09 AM
 #8282

bummer
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June 16, 2015, 01:16:57 AM
 #8283

Thanks for years of Dedication !!

Sucks to see changes like this..

You will be missed !!
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June 16, 2015, 01:26:33 AM
 #8284

BTCGuild - would you be interested in joining the initiative we've created at PleaseProtectConsumers.org in response to BitLicense?

You could send NY traffic to that site or whatever other form of participation you'd be comfortable with. Please email erik at shapeshift.io if you'd like to discuss.

Very sorry to hear about the closure, thanks for all your great work in the community over the past several years.

ShapeShift.io - Instant Crypto Conversion/币币兑换
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June 16, 2015, 01:32:13 AM
 #8285

This is really a sad day. Btc Guild was one of the best stable pool!  Undecided

██     Please support sidehack with his new miner project Send to :

1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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June 16, 2015, 02:10:35 AM
 #8286

totally sad to have to say say thank you for everything under these circumstances.

but you've done a great service to Bitcoin.
I hope something can come from your experiences.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Kexkey
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June 16, 2015, 02:18:56 AM
 #8287

Very sad day, BTCGuild was one of the strongest.  Thanks Eleuthria for your dedication and for being present in the community.

Kexkey

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cloh76
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June 16, 2015, 02:54:28 AM
 #8288

== Posting this again so it is at the top of a new page and people don't overlook it ==


BTC Guild is Closing Down
BTC Guild will be shutting down its mining servers on June 30th, 2015 at 23:59 UTC. Users will still be able to log in and retrieve their history (CSV exports on the settings page) and request withdrawals until September 30, 2015..



Why is BTC Guild Shutting Down?
This is the second time BTC Guild has announced closure, but this time the decision will not be reversed. The reasons have not changed much since the original announcement.

As mining has become more centralized, BTC Guild has continuously shrunk in proportion to the network, now being less than 3% of the network hash rate. The costs of running the pool have not changed, and the amount of funds at risk in the event of a compromise is significantly higher than what the pool could ever recover from. When the pool was 20-30% of the network, the amount of funds at risk was slightly higher, but the ability for the pool to recover from that loss was present. At 3% of the network, the pool would not be able to recover from such a loss..

Additionally, the NYDFS BitLicense regulations have now become finalized, and the final regulations have enough gray area that BTC Guild is at risk. The fact that BTC Guild is not in New York does not matter, since it would be doing business with New York residents while they are physically in New York. This fact makes it possible for New York to attempt to claim jurisdiction to enforce regulations. Whether or not BTC Guild could win in defense of such an attempt is irrelevant, since the cost of defending the pool would be greater than any income the pool is expected to generate going forward.

Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.



PPLNS Blocks and Final Withdrawals
Users will be able to keep mining up until the servers turn off at end of day June 30th. Since PPLNS is a backwards paying system, the very last shares submitted are unlikely to receive any blocks unless a block is found at the last second.

The PPLNS shift length will be steadily reduced starting June 16th. This means that more shifts will likely end with 0 blocks, but shifts that find blocks will receive a larger amount than they would have previously. It is not recommended that users wait until the last minute to change pools.

The minimum withdrawal for a manual withdrawal will be reduced to 0.0001, and will not require a transaction fee to be paid in order to request the withdrawal.



Not For Sale
In the previous closure announcement, one reason it was cancelled was due to offers to purchase/take over the pool. This never happened because of personal attachment to the project and concern over user privacy and security.

The risk of users being cheated or stolen from as a result of transferring pool ownership is not something I am willing to accept. This is part of the reason the pool is closing in the first place: Risk of users losing funds because the pool would not be able to cover losses in the event of compromise.

I will not be entertaining offers on purchasing the pool this time around. There is no (reasonable) price the pool would be sold for.



Recommended Pools
The following pools are personally recommended for users to consider moving to:
BitMinter - long standing pool with good reputation
Eligius - long standing pool with good reputation
Kano CK Pool - cgminer developers
P2Pool (decentralized pool)



Thank you to all the users and the Bitcoin community for making BTC Guild a success for the last four years. It has been hard to finally make this call a second time with the determination to not reverse the decision. You will still be able to find me around the Bitcoin Talk forums (outside of the Pools subsection for once), and on IRC in #btcguild (and probably #bitcoin once the pool winds down).

::sadface::  Sad

[ BTC Donations: 13RNJdT72WEd1FsT3CwdJ6jy9NAa7Hsb54 ]
cloh76
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June 16, 2015, 02:58:44 AM
 #8289

So what pool will most people move to - for many of us, BTCGuild was the one and only place to mine.  Which pool is second best or even comes close?

[ BTC Donations: 13RNJdT72WEd1FsT3CwdJ6jy9NAa7Hsb54 ]
ThePiGuy
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June 16, 2015, 03:02:59 AM
 #8290

You know your pool is pretty great when there are over 400 pages of comments.

Best of luck to you in your future endeavours.  I have been a supporter since the beginning, and appreciate everything you've done.

Keep us up to date on your new projects!
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June 16, 2015, 03:05:09 AM
 #8291

So what pool will most people move to - for many of us, BTCGuild was the one and only place to mine.  Which pool is second best or even comes close?

Eligius is pretty great, I used it as a backup pool but will now use it as my primary and maybe GHash.io as a backup.
eleuthria
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June 16, 2015, 03:09:48 AM
 #8292

You know your pool is pretty great when there are over 400 pages of comments.

Best of luck to you in your future endeavours.  I have been a supporter since the beginning, and appreciate everything you've done.

Keep us up to date on your new projects!

Don't forget the couple hundred other pages in the thread before this one (the pool closed it's original thread when it switched from proportional to PPS back in 2011)!


I'll probably end up using BTC Guild's domain/page for some future Bitcoin project.  My current projects are completely unrelated to Bitcoin (other than my retro game store which will accept Bitcoin).  But I'm looking forward to some kind of app (or game) development in the future and will probably try to make Bitcoin integrated in some way.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
hmblm1245
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June 16, 2015, 03:27:55 AM
 #8293

so sad to see it go. Best of luck to ya.
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June 16, 2015, 03:28:50 AM
 #8294

As a long time user of BTC Guild, thank you eleuthria. Your honorable presence in the bitcoin mining space has been greatly appreciated. Good luck with your future endeavors!

This feels like the end of yet another era.

1LnV7h5xrFQ98HNxctKaASbB4xRBccT5Gm     Thanks!
Miner-TE
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June 16, 2015, 04:56:47 AM
 #8295

All I can say is ... Thanks E.

BTC - 1PeMMYGn7xbZjUYeaWe9ct1VV6szLS1vkD - LTC - LbtcJRJJQQBjZuHr6Wm7vtB9RnnWtRNYpq
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June 16, 2015, 05:05:59 AM
 #8296

Another victory for centralized mining.
Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.
What do you mean with this?

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June 16, 2015, 05:09:40 AM
 #8297

Another victory for centralized mining.
Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.
What do you mean with this?

I mean the pool's luck for the last 3 months has been 88~89% of expected block solves.  Eligius' 3 month luck is almost identical to that last I checked in their thread.  Slush doesn't give a 3 month luck but his 1-month luck is pretty close to that.  I do not know if that is statistically bad enough (Guild + Eligius pools in aggregate) to point towards something other than variance.  Both pools combined are only about 5% of the network, so 12% under expectation over 90 days might be something that could happen 1 in a hundred samples.  I'm sending organofcorti a message about it since that's his area of expertise.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
chalkboard17
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June 16, 2015, 05:14:07 AM
 #8298

Another victory for centralized mining.
Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.
What do you mean with this?

I mean the pool's luck for the last 3 months has been 88~89% of expected block solves.  Eligius' 3 month luck is almost identical to that last I checked in their thread.  Slush doesn't give a 3 month luck but his 1-month luck is pretty close to that.  I do not know if that is statistically bad enough (Guild + Eligius pools in aggregate) to point towards something other than variance.  Both pools combined are only about 5% of the network, so 12% under expectation over 90 days might be something that could happen 1 in a hundred samples.  I'm sending organofcorti a message about it since that's his area of expertise.
I understand that and am aware about (now) minor pools' bad luck. To tell you the truth I was under the suspicious they could be using our hashrate to rarely mine on other addresses, thus lowering luck. But that's just me and you get a very suspicious character after being scammed and robbed so many times by other people. I wanted to know what you meant with them being possibly attacked, and how?
I never used btc guild and although I mine on eligius due to the no fee (and will leave them the second they add any fee at all) I would suggest you to raise the fee instead of closing the pool. People who disagree would leave but I doubt a currently 12ph/s pool would go below 1ph/s, except if the fee goes up a lot.

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June 16, 2015, 05:32:42 AM
 #8299

You know your pool is pretty great when there are over 400 pages of comments.

Best of luck to you in your future endeavours.  I have been a supporter since the beginning, and appreciate everything you've done.

Keep us up to date on your new projects!

Don't forget the couple hundred other pages in the thread before this one (the pool closed it's original thread when it switched from proportional to PPS back in 2011)!


I'll probably end up using BTC Guild's domain/page for some future Bitcoin project.  My current projects are completely unrelated to Bitcoin (other than my retro game store which will accept Bitcoin).  But I'm looking forward to some kind of app (or game) development in the future and will probably try to make Bitcoin integrated in some way.
Hope you will take on a project that will turn out as good as the pool in its glory days, but even better Smiley good luck!

| In Default we Trust | Need gold/silver for btc? | Buy bitcoins |
man114
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June 16, 2015, 06:12:27 AM
 #8300

Another victory for centralized mining.
Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.
What do you mean with this?

I mean the pool's luck for the last 3 months has been 88~89% of expected block solves.  Eligius' 3 month luck is almost identical to that last I checked in their thread.  Slush doesn't give a 3 month luck but his 1-month luck is pretty close to that.  I do not know if that is statistically bad enough (Guild + Eligius pools in aggregate) to point towards something other than variance.  Both pools combined are only about 5% of the network, so 12% under expectation over 90 days might be something that could happen 1 in a hundred samples.  I'm sending organofcorti a message about it since that's his area of expertise.

88-89% doesn't seem anything out of the ordinary for variance for a 3 month period. Slush has had a bad run of luck in the last two weeks or so and the drop in hash rate certainly hasn't helped. Of course the drop due to summer certainly won't help hash rates any.

I don't know if older ASICs would have anything to do with it, an old 1th/s is going to do the same but use more electricity to do it.
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