[CLOSED] BTC Guild - Pays TxFees+NMC, Stratum, VarDiff, Private Servers

[Adrian-x]

What I think probably won't matter much though.  With a March 2016 prospective date, I'm not so sure the pool will even still be around by the time it's time to choose a side, given how much noise is being made by regulatory bodies who have absolutely no clue what to do with Bitcoin but sure as hell want to regulate it anyways.

that's a heavy hitting statement, from someone in your position, is there any reading we can do to give us a better understanding of the situation.

[eleuthria]

What I think probably won't matter much though.  With a March 2016 prospective date, I'm not so sure the pool will even still be around by the time it's time to choose a side, given how much noise is being made by regulatory bodies who have absolutely no clue what to do with Bitcoin but sure as hell want to regulate it anyways.

that's a heavy hitting statement, from someone in your position, is there any reading we can do to give us a better understanding of the situation.

BitLicense is the start of over-regulation, not the end.  Other states will follow RAPIDLY after New York finalizes BitLicense, copying it almost verbatim most likely.  Given BitLicense is already trying to establish jurisdiction when you have a user located in New York, it would only be a matter of time before the pool would be forced into closure.  Legally, it's likely a defendable case, but the cost of defense would be high.  With the pool's income is shrinking every single month as the price gets lower and private farms/China continues to take a larger chunk of the network for itself, it's not a legal cost I would be willing to endure.

[Adrian-x]

What I think probably won't matter much though.  With a March 2016 prospective date, I'm not so sure the pool will even still be around by the time it's time to choose a side, given how much noise is being made by regulatory bodies who have absolutely no clue what to do with Bitcoin but sure as hell want to regulate it anyways.

that's a heavy hitting statement, from someone in your position, is there any reading we can do to give us a better understanding of the situation.

BitLicense is the start of over-regulation, not the end.  Other states will follow RAPIDLY after New York finalizes BitLicense, copying it almost verbatim most likely.  Given BitLicense is already trying to establish jurisdiction when you have a user located in New York, it would only be a matter of time before the pool would be forced into closure.  Legally, it's likely a defendable case, but the cost of defense would be high.  With the pool's income is shrinking every single month as the price gets lower and private farms/China continues to take a larger chunk of the network for itself, it's not a legal cost I would be willing to endure.

oh you paint a sad picture 

[mrkubanftw]

What I think probably won't matter much though.  With a March 2016 prospective date, I'm not so sure the pool will even still be around by the time it's time to choose a side, given how much noise is being made by regulatory bodies who have absolutely no clue what to do with Bitcoin but sure as hell want to regulate it anyways.

that's a heavy hitting statement, from someone in your position, is there any reading we can do to give us a better understanding of the situation.

BitLicense is the start of over-regulation, not the end.  Other states will follow RAPIDLY after New York finalizes BitLicense, copying it almost verbatim most likely.  Given BitLicense is already trying to establish jurisdiction when you have a user located in New York, it would only be a matter of time before the pool would be forced into closure.  Legally, it's likely a defendable case, but the cost of defense would be high.  With the pool's income is shrinking every single month as the price gets lower and private farms/China continues to take a larger chunk of the network for itself, it's not a legal cost I would be willing to endure.

What exactly is BitLicense? Never heard of it.

*Edit*

In reading it... its sounds like the footprint for market exchanges in New York alone. I'm not seeing anything regarding mining. If this does in fact lay the legal footprint for an american market exchange... i see quite the opposite of what you described. Where are you getting this from.

+10 For pool luck. We are getting shit on lately.

[eleuthria]

In reading it... its sounds like the footprint for market exchanges in New York alone. I'm not seeing anything regarding mining. If this does in fact lay the legal footprint for an american market exchange... i see quite the opposite of what you described. Where are you getting this from.

That's the intention, not the letter of the law.  On a pool, your money is in the pool's wallet until you ask for it or your threshold is hit.  See the 2nd definition of what qualifies as a virtual currency business:  securing, storing, holding, or maintaining custody or control of Virtual Currency on behalf of others;

It is not possible to run a managed pool without a central wallet, with two exceptions:  Solo pools, and p2pool-style where there is a minimum difficulty that prevents a user from having a "dust" balance owed to them, and each share submitted requires a new work push (share-chain style) where any work submitted without the new coinbase reflecting the new distribution is considered stale/not paid.

[mrkubanftw]

In reading it... its sounds like the footprint for market exchanges in New York alone. I'm not seeing anything regarding mining. If this does in fact lay the legal footprint for an american market exchange... i see quite the opposite of what you described. Where are you getting this from.

That's the intention, not the letter of the law.  On a pool, your money is in the pool's wallet until you ask for it or your threshold is hit.  See the 2nd definition of what qualifies as a virtual currency business:  securing, storing, holding, or maintaining custody or control of Virtual Currency on behalf of others;

It is not possible to run a managed pool without a central wallet, with two exceptions:  Solo pools, and p2pool-style where there is a minimum difficulty that prevents a user from having a "dust" balance owed to them, and each share submitted requires a new work push (share-chain style) where any work submitted without the new coinbase reflecting the new distribution is considered stale/not paid.

Correct. But no one is having you hold bitcoin on their behalf. You are GENERATING bitcoin not storing it. Temporarily storing it before its distributed is totally different. I would even argue it doesn't qualify as a business as you don't stand to profit from this in neither bitcoin nor fiat. That alone meaning this isn't even applicable to you. All of this in light.. you are not in new york. So don't worry about it  

[crilleaz]

So this means BTCGuild will close?

[eleuthria]

So this means BTCGuild will close?

Every pool will close eventually.  BTC Guild almost closed 6 months ago.  When the time does come to actually close the pool, there will be 30+ days of warning before a single mining node stops, and many months of time before it finally goes offline.

[mrkubanftw]

So this means BTCGuild will close?

Every pool will close eventually.  BTC Guild almost closed 6 months ago.  When the time does come to actually close the pool, there will be 30+ days of warning before a single mining node stops, and many months of time before it finally goes offline.

Why did it almost close 6 months ago?

[lemmyK]

I'm going on the  BTC guild. somebody recommends changing the pool?
today I interrupt again

[fullintegrity]

5/07/15: I had 15 GHS of ant miners (U2) crawling along, then added a S1 antminer, now nothing is showing for last 14 hours as rewards?
Anyone know why or how this could be, even though the stats show hashing is good?

[lemmyK]

Yes but where it is better?    
Well known thing is that everything BT grabs the big players... 1000th+ 

I do not recommend to write on this World Forum how many performances in th / s on your machines. it's how to you write a tax return without declaration and payment

[eleuthria]

5/07/15: I had 15 GHS of ant miners (U2) crawling along, then added a S1 antminer, now nothing is showing for last 14 hours as rewards?
Anyone know why or how this could be, even though the stats show hashing is good?

The dashboard clearly shows when the last block was found, and you can make it show up in your personal time zone by changing it on the settings page.  BTC Guild hasn't found a block in 15 hours.

[lemmyK]

https://www.btcguild.com/index.php?page=pplns   

Do you see the big fall in the last day

[hurricandave]

I've run My equipment on the Guild since December '13. If a couple of 0 Block Shifts scare you. Maybe you should consider selling all of your equipment and stick to playing the conversion odd's on the exchanges, cause you AIN't Got what it takes to be a Miner Period.

Do some more research, grow some balls

[eleuthria]

I've run My equipment on the Guild since December '13. If a couple of 0 Block Shifts scare you. Maybe you should consider selling all of your equipment and stick to playing the conversion odd's on the exchanges, cause you AIN't Got what it takes to be a Miner Period.

Do some more research, grow some balls

Still sucks when it happens.  That single block took the 1D/3D/1W/2W/1M figures all back under 100%, and made the 3M figure take a pretty big hit as well.  For a while there I thought we might finally be seeing the 3M average back over 100% [it had been creeping up steadily for the last 3 weeks].

[navigator]

This luck is making me

[Adrian-x]

This luck is making me

it sucks, but i think the decrease in overall Hash has a role to play too, I think its going to be a hot summer, the fact that i have turned down my mining by about 20% to compensate for my inadequate cooling is probably topical with typical pool miners, I hope to see it pick up in the fall.

[eleuthria]

This luck is making me

it sucks, but i think the decrease in overall Hash has a role to play too, I think its going to be a hot summer, the fact that i have turned down my mining by about 20% to compensate for my inadequate cooling is probably topical with typical pool miners, I hope to see it pick up in the fall.

Decrease in hashrate over the last year is a factor in why the luck swings as much as it does (smaller share of the network = bigger spikes and longer low periods).  But the bad dayss are outweighing the good days significantly.  And unlike the last time where it was finally statistically evident as to why (broken miner client software that wasn't submitting shares higher than 4.2 billion [unsigned integer max]), there simply isn't anything of the sort this time around.  There is not a single user showing a shares vs blocks solved ratio that indicates anything broken.  But that's because it's virtually impossible for a single miner to ever submit enough shares for that to be visible:  You would need to submit about 250-300b shares without a block solve.  We don't have anybody even remotely close to that many shares without a block solve, but we also barely have any miners who have even submitted that many shares to begin with.

[BCwinning]

yesterday was a good day, back to the 12 hr + grind today, few more days like yesterday is needed though