NovaBlock, The Most Profitable Mining Pool

[MoparMiningLLC]

... To anyone attending WDMS in Frankfurt this year, the entire NovaBlock team will be attending, please send us a PM on here and we can try to arrange a meet up.

Thanks to everyone for being so welcoming to our pool.

I would love to go but I doubt I will be - I wish they would hold one of these things in the US - much easier for me to get the time to attend.

[1714100061]

1714100061

[1714100061]

1714100061

[Steamtyme]

I hear yah, Maybe I can time an anniversary gift to the wife with one of these conferences by accident in the next couple years. I do still owe her a proper honeymoon. Apart from that I have updated my review thread with a 5 day earnings comparison. I also included a link to the spreadsheet I'm using. Here is the post. I  have also downloaded the App on my phone and will discuss it more once I am more familiar with it.

[MoparMiningLLC]

15 days in and here are my results - so far NovaBlock is more profitable but just by a small margin. Will need to also consider there is currently no fee for my mining on NovaBlock, add in NovaBlocks 2.5% fee and consider ViaBTC's merged mining and ViaBTC would be ahead. I will provide 2 more comparisons and then will provide an actual more in depth review of their site as well as the app.
I will state that both app and website are functioning and neither are difficult to navigate.

[Freemine-001010]

im also trying nova, looks nice, like the app ,

are the fees waived untill 2000 ph ?

[Steamtyme]

No the fee is reduced to 2.5% until the pool reaches 2000PH. If reviewing the pool through Vincent the fee is reduced to 0% for 1 month while conducting the review.

[NovaBLock.com]

Referrals

At NovaBlock, we strive to make everyone as profitable as possible and spread the wealth! This is why we are now excited to introduce the new NovaBlock Referral Program (NRP).

To spread the name of NovaBlock to everyone we are offering a reward for anyone that introduces new clients to our pool. Please let me know if you're interested in joining this program.

As we roll this out initially, we will focus mainly on referrals with greater than 5 PH. This is to ensure that we do not receive too much volume where we can't keep up/keep track of payments and referrals. We will slowly decrease the minimum size referral as we get more comfortable and streamline this system.

PM here if you are interested and we can send you a contract.


_______________________________________________________________________________ ___________________________________________
Merged Mining

We have heard your feedback, our goal is to make mining as simple and profitable as possible.

We will have an exciting announcement regarding merged mining coming soon in the next week or two. Look forward to it

_______________________________________________________________________________ ___________________________________________

Keep on letting us know what we can do better. If it can make everyone more profitable, we will implement changes right away. We have a team dedicated to updating our pool and make changes/upgrades as need be.

[wndsnb]

What is your roadmap for fees after 2000PH? Also, would you consider adding a PPLNS payout at a lower fee?

[Freemine-001010]

the block explorer is not updating very fast , hasn't registered the 2 blocks found on 10/4      597,797    597,798

also could you introduce a auto refresh feature on the workers dashboard page, as i have to refresh it manually to see the current hash rate of my workers

and a request on the pool stats could you put a marker on the graph / timeline to denote when blocks are found

Thanks

FREEMINE

[Inverse756]

Hello

Can not find infornation about blocks reach on your pool
Saw explorer here https://btc.com/stats/pool/NovaBlock

So on average pool finds 2 bloks per day with 700Ph
Even without addition rewards for commission it's 12.5 x 2 =25BTC
25BTC / 700 000Th = 0.00003571BTC/Th/day
But calculator on your pool show 0.00001987BTC/Th/day

What 2.5% for your commition from blocks rewards you tallking about?

0.00003571BTC/Th/day & 0.00001987BTC/Th/day  it's about 45%

[TheYankeesWin!]

You  don't understand  pps+ pool payout.  Here goes :

PPS+  takes finding block risk away from the miner and puts it on the pool.

So if novapool had  insanely good luck  and found 5 blocks a day  you get paid based on your hash  not the blocks found = good for novapool

on the other hand if novapool has really bad terrible luck  and finds a block every 3 days  you get paid on your hash not the blocks found. = good for you the miner

The larger a pps+ is the more risk it assumes each day if the pool has 700ph  and is paying at 0.00001920  they need to pay around 13.44 btc a day   as 700000th x 0.00001920 = 13.44 btc

So this pool risks a loss of 13.44 btc daily if it does not hit  a block on any day.

[MoparMiningLLC]

also could you introduce a auto refresh feature on the workers dashboard page, as i have to refresh it manually to see the current hash rate of my workers...

Mine auto-refreshes in what seems like 30 second increments.

and a request on the pool stats could you put a marker on the graph / timeline to denote when blocks are found...

I second this.

[Inverse756]

You  don't understand  pps+ pool payout.  Here goes...

I clear understand all "systems" PPS, PPS+, FPPS e.t.c
It was sarcasm

And I understand the fact that pools (PPS, PPS+, FPPS e.t.c) around the world each day keep about 100BTC for themself from really rewards + commissions for blocks which ordinfry miners finds

Just in this case stop tallking about commission 2.5% or any %, it calls some differnt way - you simplly pay as much as ready to pay for miners (shows on your calculator), and you kepp as much as you want for yourself

Only in case of fair PPLNS system you can serious tallking about any % for pool from general rewards of blocks to reach

[Freemine-001010]

so seems my dashboard is stuck on 9-29 , and wont switch over to oct ,  anyone else have this

activity, i would like to see the profitability graphs showing some details , but its stuck on  9-29 

NOVABLOCK prob needs to look into the css or code on the site and make sure its correct in keeping

up with the current time ect .


Thanks

FREEMINE

[MoparMiningLLC]

Their average from 8/14 to 10/01 is just over 3 blocks per day. (I am limiting to 10/1 as that is the last date showing on history page) also worth noting is that the following dates: 8/26, 9/4, 9/15, 9/16 and 9/30 are not on the history page - I would assume that means the pool found no blocks for these days - Please verify.

Anyways, my view on this is as follows:

Note: For all my calculations I am going to apply the daily average hashrate to the 5 days where no blocks were found.

The pool has found 151 blocks in the 49 day long period of 8/14 to 10/1, the total hashrate for this period is approximately 109,287.73 PH/s or 109,287,730 TH/s and the pool has collected 1,925.732394 BTC.

This would work out to an average of BTC to TH/s ratio of of .00005611 and this is the payment I would expect (minus pool fee) if this were a PPLNS pool.

Unfortunately, the price to pay with being part of a PPS pool is that you may end up giving up the majority of the earned reward. But it can work both ways - use the 5 days where no blocks were found. Miners are still paid for those days. So, if a pool has a run of bad luck, the miners will be safe from losses. And if the pool has a good luck streak, the pool wins and most likely ups the reward amount to compensate.

If a pool is lucky then the miners are losing out, and if the luck is terrible, the pool loses - though the pool takes the risk of going broke if the terrible luck persists which is entirely possible - having occurred with numerous pools in the past - and I believe this is why Kano always asks a PPS pool how much reserves they have.

Because of this, I firmly believe that PPLNS is the best payment method. But because my reserves are low (I really gotta stop buying new equipment) and I need to make a monthly amount, I do use some PPS pools. If my reserves were sufficient to weather the ramp up or if Kanos pool was not 140-150 day to ramp up, I would have all my miners there.

And that is why I am always willing to try different PPS pools to see which is most beneficial.

If for any reason, my calculations are wrong or am I completely off base with my above assumptions, please do correct me.

[philipma1957]

I doubt very much they have luck that good. I am tired and it is late but 3 blocks a day for 50 days when they should not make 2 blocks a day means they are over 150% luck for 150 blocks .  So I suspect the stats are wrong.

I think they must not be reporting the hashrate correctly. If they are and they had the luck posted I would think the odds are far more then 10000 to 1 to have luck that good.

[MoparMiningLLC]

I doubt very much they have luck that good. I am tired and it is late but 3 blocks a day for 50 days when they should not make 2 blocks a day means they are over 150% luck for 150 blocks .  So I suspect the stats are wrong...

if so, then they are being reported wrong, I simply exported the history page. 5 days were no blocks.

[philipma1957]

Either blocks made are wrong
Hash hashing is wrong

Or they had the luckiest streak ever

They should do and average of 1.1 blocks for each ofthose 50 days

Maybe 1.2 blocks for each of those 50 days.

They averaged 3.

So say 60 vs 150

I don’t think I have ever seen luck that good.

[MoparMiningLLC]

maybe i did the math wrong? check https://novablock.com/space/block

it reports in PH/s so the formula I did was simply (reward(block+transaction) divided by PH/s) then divided that by 1000 - to convert PH/s to TH/s

I have been up for neigh on 24 hours so maybe I made a mistake?

example: on 8/14 - they found 3 blocks so total reward was 38.39569278 BTC - I divided that by 696.23 so: ((38.39569278/696.23)/1000).

[philipma1957]

Tired 💤 I will look at math on sat.

[wndsnb]

Looking at the period where diff was 11.891T, 9/13 to 9/26, the site shows that they found 37 blocks. 700PH for this period should average 1.18 blocks per day, or about 15.4 blocks for the 13 day period. If I did my calculation correct, it would be about 1 in 500,000 chance of hitting 37 blocks in that period when you'd expect 15.4 on average. So it definitely looks like something is wrong. The hashrate would need to be closer to 1700PH to get this number.

I looked through a bunch of those blocks and the block rewards all go to the same address, 3Bmb9Jig8A5kHdDSxvDZ6eryj3AXd3swuJ. So It appears the blocks were mined by the same pool.

Maybe they have ~1000PH of their own that they are not showing in their stats.