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Question: I would purchase mining time with...
BTC - 231 (57.6%)
MTGOXUSD Codes - 31 (7.7%)
Credit Card - 112 (27.9%)
Other e-currency (ie. Dwolla, Paxum) - 27 (6.7%)
Total Voters: 399

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Author Topic: GPUMAX | The Bitcoin Mining Marketplace  (Read 200061 times)
TheSeven
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April 03, 2012, 07:28:21 AM
 #1381

Is this even worth subscribing for a beta invitation? Or is there a backlog of several years anyway?
Would be nice to show that on the registration form.

Years, NO... Maybe just 13 months.  Nah, we stopped invited due to maxing out our system.  We should be able to get everyone on within a week.

Hm, apparently not, from what it looks like?

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
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April 03, 2012, 08:32:40 AM
 #1382

Trying at 40, but nothing.
yeah this is a bit bullshit.
Might just leave it at 47 for the time being and leave it at that =/
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April 03, 2012, 08:33:06 AM
 #1383

0.000047 seems to work

I second that! has been for a bit now.

Still getting connection problems
they're still stopping my backup pools from working
still getting paid
still don't really care =D

Cheers for the site Pirate!
Stopped now, is anyone getting any at a lower price?

Nope.  .44 doesn't work either.

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April 03, 2012, 02:41:03 PM
 #1384

gettin public work @ .000045 again
I didnt for a while last night, but started this morning.
Maybe there just isnt public work avail sometimes guys =P

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pirateat40
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April 03, 2012, 02:46:29 PM
 #1385

gettin public work @ .000045 again
I didnt for a while last night, but started this morning.
Maybe there just isnt public work avail sometimes guys =P

Like I have said many times in the past but as I know most people don't read back 5 posts let alone pages I will say it again. We don't run purchases unless we're awake and can react to problems if something goes wrong.  WHY?  If the system goes down during a purchase not only could we/miners/buyers lose money but we could risk shutting down all the miners that depend on us to be up and running 24/7.  So until the fail-over system is running to prevent a bad purchase or pool to cause a problem we don't run them when we're sleeping.

Now back to your regularly scheduled chirping. Smiley

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April 03, 2012, 02:51:28 PM
 #1386

Wow guys, the last several pages have just been people complaining about prices and whether they are getting work. Calm down. I'll restate a few important points, and hopefully you guys will understand what is happening since you haven't read the whole thread.

1.) GPUMAX does not always provide public work, and you shouldn't necessarily expect them to.
  a. Due to ever increasing demand, the backend had to be shifted to new servers. Moving to new servers always requires tweaking for performance, and often features will be enabled slowly to make sure something didn't break during the move.
2.) The software is continuously being improved, although I suspect that the majority of fixes and improvements currently are to the backend systems to achieve an excellent level of service.
  a. Like any competent company or developer, NEW features are not being released willy-nilly, but are tested extensively before deployment.
  b. The coming upgrades apparently are rather major, and therefore would be needing a lot more testing and debugging than just a few simple changes.
3.) Public work that is provided is being activated manually by someone, and therefore cannot run at all times or instantly.
4.) Pricing is dependent on both your ask and your hashpower. Those with 200ghps will have more say over the prices than those with 2ghps.
  a. Additionally, several small users might be able to affect the price if they work together, which is probably why it has been moving down (people reducing the price during periods of no work, trying to get paid even though there is no work).

If any of this is incorrect, I am sure that our swashbuckling pirate will provide corrections.

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April 03, 2012, 03:15:38 PM
 #1387



Nope.  .44 doesn't work either.


this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

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GenTarkin
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April 03, 2012, 04:01:05 PM
 #1388

Well, its a good thing to know bout the manual public work activation. That makes sense. No, I havent read this million page thread =P Ive been involved for the last 7 pages or so...didnt see that stated anywhere.

I shall stop moving my asking price then, unless its going up. I dont wanna drive price of shares down just cuz it seems theres no public work because pirate n staff is sleeping. I suggest everyone else that was not seeing public work do the same.

It would be nice if the site somehow showed a global public work status ... so we know when theres public work queued for execution and when theres not =)

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April 03, 2012, 04:07:09 PM
 #1389

here is what I do.

I set all but one worker at my price  (currently  4670)

I set my lowest hashrate worker ata lower price (4000)

then by monitoring the json api,  you can tell if your leasing just a trickle of shares, the purchases are going but only the lower worker is getting work. 

I created a php file that will monitor the api and show you diffs from the previous load of the page.  also very handy for judging how much you will make that day.



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April 03, 2012, 04:08:50 PM
 #1390



Nope.  .44 doesn't work either.


this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

46 is working for me.... regardless, there is a natural floor here, and things won't be stable until we meet it.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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GenTarkin
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April 03, 2012, 04:23:06 PM
 #1391

Yeah, it sucks tho, there is still no incentive for a miner to put above current PPS price. There is no incentive for the price ever be driven up again =/ cuz the system just penalizes those by never mining on them.
The floor, unfortunately will be whatever current PPS prices are @ other pools....really.
So, soon there will be no incentive to even mine @ gpumax given current system.

I see in OP it states gpumax makes their income from price difference between paid share and asking price of miners(when its lower obviously). If the algo doesnt even consider sending shares to miners above current cost of shares then there is that huge issue of asking price only dropping.
If the algo somehow could use a moving ratio / percentage that uses the current cost of shares as its middle ground.
GPUmax would have to be willing to lose money on sending shares to miners asking price above current cost of shares, but make money on lower asking prices than cost(maybe they do now, not sure but highly doubt it).
But this way people above current cost still get paid on their asking price every so often and people below still get paid(already happening).

Example: up to x% higher than current share cost, miners would still be paid x% of the time. miners below current cost would be paid the difference...or w/e. I dont know if it would work but yeah, its an idea.

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April 03, 2012, 04:26:54 PM
 #1392

It would be nice if the site somehow showed a global public work status ... so we know when theres public work queued for execution and when theres not =)

DoubleGood Plus One

This alone would cut the post count on this thread in half.

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April 03, 2012, 04:36:35 PM
 #1393

Yeah, it sucks tho, there is still no incentive for a miner to put above current PPS price. There is no incentive for the price ever be driven up again =/ cuz the system just penalizes those by never mining on them.
The floor, unfortunately will be whatever current PPS prices are @ other pools....really.
So, soon there will be no incentive to even mine @ gpumax given current system.

I see in OP it states gpumax makes their income from price difference between paid share and asking price of miners(when its lower obviously). If the algo doesnt even consider sending shares to miners above current cost of shares then there is that huge issue of asking price only dropping.
If the algo somehow could use a moving ratio / percentage that uses the current cost of shares as its middle ground.
GPUmax would have to be willing to lose money on sending shares to miners asking price above current cost of shares, but make money on lower asking prices than cost(maybe they do now, not sure but highly doubt it).
But this way people above current cost still get paid on their asking price every so often and people below still get paid(already happening).

Example: up to x% higher than current share cost, miners would still be paid x% of the time. miners below current cost would be paid the difference...or w/e. I dont know if it would work but yeah, its an idea.

When dollar purchases come in I expect there will be a sustainable premium over pps.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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April 03, 2012, 04:38:28 PM
 #1394

I'd be happy to set my lowest sell price and not muck with it if the price I got was the actual purchase price minus GPUMAX's (assumed) ~10% fee.   As it is, it appears that what we actually get when we sell is always the exact price we set as our "lowest" price.  So instead of "lowest" it is really "only".


This.

ITs like GPUmax is based on a traditional market, but ignoring the fact you cant hang on to unsold shares.

It makes sense to put in a ask price when you have things like coins for sale; as long as no one bids your price, you just keep the coins. But you cant do that with shares. So  if necessary, most miners would be willing to drop his price to close to 100% (or 115% if you have a backup pool that pays that), its still better than not selling. Or whatever the minimum you want, but this shouldnt be the price for every sold share. Changing of this price should be automatic. Having to sit behind your screen all day to keep your shares selling just doesnt make sense, thats what we have computers for.

Let the buyers set their price. They can wait if their orders dont get filled.

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April 03, 2012, 05:07:01 PM
 #1395

this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

How?
jjiimm_64
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April 03, 2012, 05:23:03 PM
 #1396

this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

How?

I discribed how i do it in a previous post... 

but for those without an api key, this is a valid question.... Pirate?


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pirateat40
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April 03, 2012, 05:39:05 PM
 #1397

this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

How?

I discribed how i do it in a previous post... 

but for those without an api key, this is a valid question.... Pirate?



Yea, if you don't have an API key and want one, you can request one by sending and email to support@gpumax.com.


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April 03, 2012, 05:44:40 PM
 #1398

Having to sit behind your screen all day to keep your shares selling just doesnt make sense, thats what we have computers for.
EXACTLY!  As a workaround, I had set my workers to send work to another lower priced worker (5-6 level).  But it was apparently causing issue and I've been told I'd be banned if I did it again.

A solution is fairly simple, to have worker set price as "mine above X" and get paid "buy price minus GPUMAX fee".

When inquiring about the issue, I've been ignored, told ~6 time there is no issue, to lower my price, and in the end to STFU.
It's understandable since lowering the price only make them more profit, if only they could tell us what % profit they want we could set our share price to buy price minus their fees and be done with testing every possible price and waiting for work.

Quote
Let the buyers set their price. They can wait if their orders don't get filled.
...not really, Since the buying of these shares are mostly dependent on pools hopping, timing is important.
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April 03, 2012, 05:47:08 PM
 #1399

this is exactly why the price keeps dropping,  when purchases are not running, miners are lowering the price to get work that is NOT there.


everyone,  Please make sure there is a purchase running before testing lower prices!

How?

I discribed how i do it in a previous post...  

but for those without an api key, this is a valid question.... Pirate?



Yea, if you don't have an API key and want one, you can request one by sending and email to support@gpumax.com.



the question was not answered.

How can you tell if a purchase is running without lowering the price or have an api key?

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pirateat40
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April 03, 2012, 05:55:27 PM
 #1400


the question was not answered.

How can you tell if a purchase is running without lowering the price or have an api key?

Right now, there is no way.  I realize that miners wanna make MORE money but if you're not getting work and we're running purchases, it's not like you're losing anything you're just not making as much as you could be.

GPUMAX has created a miner vs miner market and I think many of you are use to a pool vs pool market.  So, it's different and working as it should.  With that said, we have a lot of things coming soon that will drastically change pricing and the market.

Until then, relax and if you're not happy there's nobody keeping you here.

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