GPUMAX | The Bitcoin Mining Marketplace

[rjk]

While I do, in fact, want to purchase hashing power in this way, I have had the same sentiment as gmaxwell. There is a distinct possibility of an entity contracting for a majority of power. (through shell companies, and all kinds of obfuscation so no one noticed the consolidation even if the mining community is vigilant.

Other than this type of peer pressure, I'm not really sure that there's anyway to prevent it - consolidation is a natural process in the free market. Maybe general gentleman's agreement to not sell any one entity too much hash power at any one time is a good start?

Pools are validated as part of the process (can't just add any old pool and start mining).

[GenTarkin]

Hey guys, I got the invite on this project a little while ago, and its concept still escapes me a bit.
I would like to dabble in offering up my mining at a set rate. I assume to do this is create a pool(the one I currently mine at w/ my current credentials) then a worker that points to that pool in gpumax interface. Then set the pps price if offering my work for other people on gpumax to purchase from right?
So, I dont know what to set my pps fee too, it seems pointless to set it lower than what going pps rate is cuz I could easily get that at a pool by mining there. But if I set it higher, noone will wanna buy my shares . . right?
So, I dont fully understand this =./

I bought some shares a while back @ .000055 or w/e and I havent put my btc in cuz .. I thought this was a ripoff, so its just sitting there not doing anything. I dont know how to put up a lower bid, it doesnt seem to offer option of changin purchase price when making purchase.

Anyways, if someone could jsut give me a good starting point for my mining and what to set share price @ for public work, any way to tell what the going rate avg is on the site itself? cuz its kinda hard doin it in the dark.

[P4man]

GPUmax seems to be buying again nonstop atm, and has been for the past 8 or 12 hours. I dont know how many GH GPUmax controls, but its clearly in the 100s of GH, if not nearer 1TH.

The first post in this thread shows a list of approved pools where you can send hashes to if you buy them. We all wonder who is buying, but perhaps we can find out at least where they are being sent. I checked them all, one by one. Lets go over them:

Deepbit. It has no historical charts for hashrate that I can find, but its currently at 3.9 TH, which is roughly where it was yesterday.
Slush, no historical charts either, but atm down ~200GH compared to yesterday
BTC guild. No real change: https://www.btcguild.com/pool_chart.php
Ozcoin: down by 50 or so GH, perhaps more, but they had some downtime: https://ozco.in/content/hashrate
Arsbitcoin:  not sure, but compared to Organofcorti's analysis, down by 50+GH https://arsbitcoin.com/poolstats.php
Eclipse: no change: https://eclipsemc.com/graphs/historical_rate.php
Bitclockers: no change, slightly down perhaps but also had downtime: http://bitclockers.com/statistics
BTCmine: down ~50GH compared to yesterday : http://btcmine.com/stats/
Bitminter: down ~40-50GH compared to yesterday (no charts, but https://bitminter.com/livestats/big)

So almost all of them are down since gpumax became active again and miners are no longer mining on their private pools; ,
But best I can tell, none are really up either. So if those "lost" hashes from the above pools,  plus the hashes that come from pools that are not on that list,like Clipse and Goat, P2Pool, or whatever,  if they dont end up on any of those approved pools... where are they going?

Pirate, is that something you are willing to disclose, and if not, why not?


edit: shortly after writing this, gpumax seems to have stalled, and I notice deepbit is down ~400GH, slush is back up the 200GH it was missing earlier. Are they being sent to deepbit?

[ummas]

It was fun to have GPUMAX working aggain. Sorry that that has ended :/

Diff. rised...

[pirateat40]

GPUmax seems to be buying again nonstop atm, and has been for the past 8 or 12 hours. I dont know how many GH GPUmax controls, but its clearly in the 100s of GH, if not nearer 1TH.

The first post in this thread shows a list of approved pools where you can send hashes to if you buy them. We all wonder who is buying, but perhaps we can find out at least where they are being sent. I checked them all, one by one. Lets go over them:

Deepbit. It has no historical charts for hashrate that I can find, but its currently at 3.9 TH, which is roughly where it was yesterday.
Slush, no historical charts either, but atm down ~200GH compared to yesterday
BTC guild. No real change: https://www.btcguild.com/pool_chart.php
Ozcoin: down by 50 or so GH, perhaps more, but they had some downtime: https://ozco.in/content/hashrate
Arsbitcoin:  not sure, but compared to Organofcorti's analysis, down by 50+GH https://arsbitcoin.com/poolstats.php
Eclipse: no change: https://eclipsemc.com/graphs/historical_rate.php
Bitclockers: no change, slightly down perhaps but also had downtime: http://bitclockers.com/statistics
BTCmine: down ~50GH compared to yesterday : http://btcmine.com/stats/
Bitminter: down ~40-50GH compared to yesterday (no charts, but https://bitminter.com/livestats/big)

So almost all of them are down since gpumax became active again and miners are no longer mining on their private pools; ,
But best I can tell, none are really up either. So if those "lost" hashes from the above pools,  plus the hashes that come from pools that are not on that list,like Clipse and Goat, P2Pool, or whatever,  if they dont end up on any of those approved pools... where are they going?

Pirate, is that something you are willing to disclose, and if not, why not?


edit: shortly after writing this, gpumax seems to have stalled, and I notice deepbit is down ~400GH, slush is back up the 200GH it was missing earlier. Are they being sent to deepbit?

Morning,

I have to say that I'm always impressed with the lengths our community will go to find out all kinds of statistical data.  With that said, GPUMAX does not disclose current/historical hash rates or by whom/where the hashes go.  I can tell you that we've gained the attention of some very large miners that need no pool to be profitable.  So even if you could gather all the information on every pool it would be hard to determine a total.  We do plan on adding some indicators on the site that show the loads we send to each pool but that is down the road a little longer. 

P.S.  If you believe we've had this much trouble managing "100s of GH" I'm confident in saying that you might be underestimating us. !

In other news, the system ran last night without issue and looks like we fixed the primary bug that was holding us back.  Now on with the show...

-pirate

[P4man]

I have to say that I'm always impressed with the lengths our community will go to find out all kinds of statistical data

If you are pushing around multiple TH as you seem to suggest, it should come as no surprise people are curious about who's buying and where its going.. thats a pretty significant chunk of the entire network and its a bit clouded in mystery right now.

I can tell you that we've gained the attention of some very large miners that need no pool to be profitable.  So even if you could gather all the information on every pool it would be hard to determine a total.

I know, and I wasnt even trying that, I was actually only looking for increases at the approved pools, to see where they ended up, and couldnt find a lot. 

Looking forward to seeing on the site where the hashes are being sent to; Im just curious as anyone whats being done with them and how that could make them worth 160% PPS to the buyer.

[pirateat40]

If you are pushing around multiple TH as you seem to suggest, it should come as no surprise people are curious about who's buying and where its going.. thats a pretty significant chunk of the entire network and its a bit clouded in mystery right now.

Who is buying?  We do have some addicts.

I know, and I wasnt even trying that, I was actually only looking for increases at the approved pools, to see where they ended up, and couldnt find a lot. 

The approved pool list is a bit outdated as well.  I'll get it updated, we're always testing new pools, capable speeds and it get's tedious to keep updated.

Looking forward to seeing on the site where the hashes are being sent to; Im just curious as anyone whats being done with them and how that could make them worth 160% PPS to the buyer.

We have no shortage of purchases and with a few things "coming soon" the purchase volume is only going to increase.

I know some people want more information and it seems to be clouded in mystery but I'm confident that within the next month everyone will see the big picture and we can all just sit back and enjoy.

[imsaguy]

We have no shortage of purchases and with a few things "coming soon" the purchase volume is only going to increase.

You'll be receiving a letter from my agent to discuss the lack of licensing arrangements.  Until such arrangements are worked out, I must insist that you immediately cease and desist the use of that phrase.

[BurtW]

Is it OK if I use this:  coming soon^TM

[imsaguy]

I'm pretty sure both Bitcoin Mag and Butterfly Labs are already in court fighting over this

lulz

[minero1]

Im just curious as anyone whats being done with them and how that could make them worth 160% PPS to the buyer.

You and me both, but if you of all people don't know then i just give up the search

[TheSeven]

We have no shortage of purchases and with a few things "coming soon" the purchase volume is only going to increase.

You'll be receiving a letter from my agent to discuss the lack of licensing arrangements.  Until such arrangements are worked out, I must insist that you immediately cease and desist the use of that phrase.

Where is the "Like" button? 

[GenTarkin]

Alright, after messing around w/ GPUmax more I think I understand it better now.
I still dont get why someone would want to buy shares at such a high rate though.
I assume 2 so far: With PPS mining through this site, the best setup would be, try to get higher PPS rate when your work leased out to public, if its not being leased, send work to a PPS pool, because sending to prop pool would be pointless, cuz prop return would be horrible if your miners are doin leased work most the time.

Also, Im guessing the whole point to purchasing shares, even at such a high rate, your willing to bet those shares against the luck of a given non pps pool...that way you have a chance to make a profit on those overpaidfor shares when the pool is really lucky. What sucks is , if the pool is really unlucky while mining it w/ your purchased shares, then you not only lose money in the overpaid pps rate, but also since luck would be low, you miss out on that too.
So, I understand the mining on this site. I just dont know why someone would pay such a high rate on PPS all for a gamble on luck in prop pools.
I mean sure its being able to mine w/o needing hardware, but @ current rate its at a loss.
So, whats the appeal in buying shares?

[P4man]

You and me both, but if you of all people don't know then i just give up the search

Oh dont give up. Someone knows the answer for sure, but I havent seen it posted yet. Please keep looking!

THose people suggesting buyers are gambling on prop pools.. even if you can time the purchase exactly right (which as I understand, you cant), its gotta be tough to break even on 160% PPS hopping a single pool. You might do that once in a while, but on average, nope.

Im sure some people will try anyway, and all the other reasons often mentioned like testing pools, boosting hashrate etc Im sure are all valid, but for heavens sake, we are apparently talking about more than 10% of the network hashrate here, and it doesnt look like Pirate is handling this as a short term hype that will quickly blow over when the novelty wears off. There is gotta be something else. I wonder if its somehow related to the "mystery miner"?

I guess we will find out one day - and then I will probably feel stupid for not seeing it before. I already do actually.
 

[Turbor]

Who is buying?  We do have some addicts.

There should be more addicts thank you for your work !

[GenTarkin]

So, is that the question thats being asked by you guys.. the same one I am? "who would buy all these shares at 60% fee?" pretty much and what would they be used for?

I will note some strange behaviour I have seen on eclipsemc in the last couple weeks. Normally that pool is around 400gh
But when our luck got really low for many blocks in a row. Our hashrate shot up to 900gh for a little bit(like hours or a day) then when we hit some good blocks our hashrate went back to 400-500gh.

I wonder if this was gpumax purchased mining?

[imsaguy]

So, is that the question thats being asked by you guys.. the same one I am? "who would buy all these shares at 60% fee?" pretty much and what would they be used for?

Who cares?  Do you stand outside the casino asking everyone that goes in why they are going in when there is a known house advantage?

[BinaryMage]

So, is that the question thats being asked by you guys.. the same one I am? "who would buy all these shares at 60% fee?" pretty much and what would they be used for?

Who cares?  Do you stand outside the casino asking everyone that goes in why they are going in when there is a known house advantage?

What would you say if I told you I did?

[GenTarkin]

Yeah no kidding, I care and am curious.
Cuz all I can see it being useful for is betting on the luck of prop pools.
Or manipulating pool rankings without needing to purchase hardware.
**

I guess another reason why it MAY make sense is for those who pay a LOT in electricity to mine.
I know about 1/3rd of my mining goes back into paying for electricity. So, that chops off about 33% from the 160% one pays for shares. Bringing the payed price in shares down to around 127%.
I dont pay that much for elec, but also dont have the most efficient setup either.

[P4man]

Who cares?  Do you stand outside the casino asking everyone that goes in why they are going in when there is a known house advantage?

You know what the people in the casino are in for. Im not ready to assume the volume GPUmax is pushing is all gambling (at odds, far worse than any casino). If you want an analogy, if I saw a long line of people queuing at a newspaper stand to buy boxes full of lottery tickets at 2x the regular price, yes, I would ask them and others if they knew something that I didnt.  They might just be nuts, but I wouldnt just assume it.