mmpool.org - 1.5% fee DGM/PPS - tx fees/vardiff/merge mine/tor

[starsoccer9]

The fee here is not the problem. I have benchmarked ghash.io against btcguild and eligius with equal hash rate over a period of several months. BTCGuild came out on top, and at the time it had a 3% fee and the other two were 0% fee. If there is one thing that will bring ghash users over it is more frequent blocks. Keep in mind that most people mining there are also using cex.io, and these are mostly people who think that 0.005 BTC and > 20% fees is a good price for 1GH/s. Not the brightest people.

So we have a chicken and egg problem here, but I think the only way the fee could be safely removed is if the PPS split is removed and DGM is taken off the sliding reward schedule similar to the way EclipseMC runs theirs, where every block is paid 25 BTC + fees regardless of how long or short the block is. A donation mechanism would then have to be used to recover the costs of running the pool. Then finally after all that work we'd probably still get no one from ghash.io moving over.

I am not sure where you got most of your info, but your very incorrect. cex.io had a public statement where they said that 25% of the hashrate they have is their own. That means 75% of the hashrate is by miners just are pointing there local miners at the pool and not with cex.io.

As for a 0 fee, I am not saying a 0 fee will make us more money over the long term tho I think it will, having a 0 fee encourages miners to switch as they see our pool says no fee then they switch.

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[Majixagi]

The fee here is not the problem. I have benchmarked ghash.io against btcguild and eligius with equal hash rate over a period of several months. BTCGuild came out on top, and at the time it had a 3% fee and the other two were 0% fee. If there is one thing that will bring ghash users over it is more frequent blocks. Keep in mind that most people mining there are also using cex.io, and these are mostly people who think that 0.005 BTC and > 20% fees is a good price for 1GH/s. Not the brightest people.

So we have a chicken and egg problem here, but I think the only way the fee could be safely removed is if the PPS split is removed and DGM is taken off the sliding reward schedule similar to the way EclipseMC runs theirs, where every block is paid 25 BTC + fees regardless of how long or short the block is. A donation mechanism would then have to be used to recover the costs of running the pool. Then finally after all that work we'd probably still get no one from ghash.io moving over.

I am not sure where you got most of your info, but your very incorrect. cex.io had a public statement where they said that 25% of the hashrate they have is their own. That means 75% of the hashrate is by miners just are pointing there local miners at the pool and not with cex.io.

As for a 0 fee, I am not saying a 0 fee will make us more money over the long term tho I think it will, having a 0 fee encourages miners to switch as they see our pool says no fee then they switch.

Anyone running a 0 fee pool should be suspicious. There is an ulterior motive somewhere, and understanding that motive would be required before any reasonable person would switch. Again, I'm not saying people are reasonable, but I'd have even less faith in mmpool if it went to 0 fee.

If you believe that only 25% of ghash is cex then more power to you. You might be the only one who believes that.

[temen]

here blockie, here! This direction, can you hear me

[raskul]

its today 

[data55]

Just received my antminers today. Doing some testing so only 1 is pointed here right now.. Will point the rest here in a week or so.

[bitpop]

Let's fuck this block

[temen]

fire those miners up people, i want my block-ade drink soon enough

[raskul]

it's tomorrow

[data55]

Added another S3 to the pool. Adding more miners as they come in.

[Red Star Mining]

We should have another 12.4(TH/s) next week and we're willing to send up to 25% of that to mmpool possibly.  We already have ~1.7(TH/s) on there.

[starsoccer9]

We should have another 12.4(TH/s) next week and we're willing to send up to 25% of that to mmpool possibly.  We already have ~1.7(TH/s) on there.

What would it take to get 100% to mmpool?

[Red Star Mining]

We should have another 12.4(TH/s) next week and we're willing to send up to 25% of that to mmpool possibly.  We already have ~1.7(TH/s) on there.

What would it take to get 100% to mmpool?

For the pool being able to hash a block every twenty-fours on average.  So far has not been very unlucky for us, but I've seen pools get the likes of 98.9% CDF on blocks or seven blocks out of ten all >70% CDF.  That would kill our profit margins on these miners if say mmpool was to have a bad run over the first month or two we had them there.  25% of their hashrate is the most we could risk on mmpool not have average bad variance over its next ten blocks.  We already have ~1.7(TH/s) here and are thinking of risking sending another 3.1(TH/s) or 25% of our new 12.4(TH/s) here.  Maybe once our miners have ROI we could risk sending all of it to mmpool to play lady luck in there was an incentive.  If we don't ROI then we can't buy new miners being 80% of profits reinvestment. 
It's getting a bit nervous leaving hashrate here tbh.  Maybe if you had a flashy website with extra detailed stats.  Plus wanked on about merged-mining and decentralisation the pool would sell better.  Although to be honest, once we have enough hashrate to solo AuxPoW NMC blocks on a private P2Pool node of ours more rapidly.  Then we'll be jumping ship then anyway.

[bitpop]

It is true that even though long term you will make the same amount, missing difficulty periods or having to flip hardware will hurt you.

[raskul]

It is true that even though long term you will make the same amount, missing difficulty periods or having to flip hardware will hurt you.

true that. daily blocks are just smaller chunks of any longer block.
I could solo mine with 1.4TH/s and i'd still get a fair share of the spoils, it would just take a *little* longer 

[data55]

Well we jumped up around 30-40TH from when I looked last yesterday.. Must be a bunch of new S3's pointed here.

[mmpool]

Well we jumped up around 30-40TH from when I looked last yesterday.. Must be a bunch of new S3's pointed here.

A bunch of that was me renting mining power to get the rate up in the hopes of reducing time to find the next block.

[raskul]

Well we jumped up around 30-40TH from when I looked last yesterday.. Must be a bunch of new S3's pointed here.

A bunch of that was me renting mining power to get the rate up in the hopes of reducing time to find the next block.

get a shifty on then. i already dropped 0.1 since these big hashers have come back in.

[chalbersma]

Mmpool have you considered moving to a P2Pool backend to lower the variance?

[bitpop]

Yes I think it's time to join p2pool with the benefit of giving us alts

I personally had to flip hardware and my reward basically went to 0 so I didn't get anything when my month earned almost a Bitcoin

[Red Star Mining]

If you move to P2Pool we'll bring 25(TH/s) here.  We have half of that due tomorrow and the other half in Antminer S3 batch #5 shipping on or soon after August 7th.