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Author Topic: Does a pool exist that will give a full bitcoin to finder  (Read 851 times)
ceslick (OP)
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April 25, 2014, 08:12:26 AM
 #1

Hi,

Curious to know if a pool exists that will give a full bitcoin to a block finder and split the remainder across the rest of the miners?

If not is it possible to do?

Cheers

Chris

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April 25, 2014, 08:23:40 AM
 #2

yeah, it'd be possible to do so.  modify open source mpos maybe.

p2pool gives a .5% reward to block finder (~0.127 bitcoins, assuming transaction fees modifies it.  they might not)
jonnybravo0311
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April 25, 2014, 02:47:42 PM
 #3

I'm pretty sure that's the theory behind bit solo (http://bitsolo.net).  You get the 25 BTC, the pool gets the transaction fees.

EDIT: I misread your original query.  Sorry, I don't know of any pools that will give a full BTC to the miner that found the block, then split the remaining 24.xxx with the rest.

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April 25, 2014, 06:42:09 PM
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It is possible....but the pool would have to charge a 4% fee in order to have an extra 1 BTC to provide a block finder, assuming the pool was "0%" fee pre-bonus.

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ceslick (OP)
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April 26, 2014, 02:53:50 AM
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Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

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April 26, 2014, 03:07:23 AM
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Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

Small miners would just end up making even less because the pool would HAVE to have a higher overall fee in order to pay a reward for block finding.  Small miners aren't expected to find a block *in their lifetime* these days.  The chances of them ever seeing the bonus BTC reward is quite small, but they will be paying higher fees as a result of that potential bonus.

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April 28, 2014, 01:19:17 PM
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Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

Small miners would just end up making even less because the pool would HAVE to have a higher overall fee in order to pay a reward for block finding.  Small miners aren't expected to find a block *in their lifetime* these days.  The chances of them ever seeing the bonus BTC reward is quite small, but they will be paying higher fees as a result of that potential bonus.

On average though you'd end up earning the same. The effect of the 5% finders fee would just be larger variance - like the 0.5% paid to the block finder on p2pool.


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eleuthria
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April 28, 2014, 01:23:35 PM
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Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

Small miners would just end up making even less because the pool would HAVE to have a higher overall fee in order to pay a reward for block finding.  Small miners aren't expected to find a block *in their lifetime* these days.  The chances of them ever seeing the bonus BTC reward is quite small, but they will be paying higher fees as a result of that potential bonus.

On average though you'd end up earning the same. The effect of the 5% finders fee would just be larger variance - like the 0.5% paid to the block finder on p2pool.



True, but good luck expecting the average miner to understand that a huge fee can be offset by a block finder bonus.

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April 28, 2014, 01:25:48 PM
 #9

Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

Small miners would just end up making even less because the pool would HAVE to have a higher overall fee in order to pay a reward for block finding.  Small miners aren't expected to find a block *in their lifetime* these days.  The chances of them ever seeing the bonus BTC reward is quite small, but they will be paying higher fees as a result of that potential bonus.

On average though you'd end up earning the same. The effect of the 5% finders fee would just be larger variance - like the 0.5% paid to the block finder on p2pool.



You'd think so, but that's not true because of the increasing difficulty.  i.e. If I put 100ghash to work solo mining (and from here on I'm just going to spit out numbers since I'm not going to do the actual math), then I'd have, say, a 99.99% chance of not finding a block... but then the difficulty level increases, so then it'd be 99.992% chance, and so on.

Just think of all the people that would have 0 bitcoins after a year... you'd really have to have some serious hashing power to even make this a worthwhile gamble (because that's what it is).

ed: this is a theoretical case of solo mining.  but it also would apply to a pool with a block finder's reward
organofcorti
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April 28, 2014, 01:32:14 PM
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Would be nice to have a pool like this... Gives incentive to some smaller miners Smiley

Small miners would just end up making even less because the pool would HAVE to have a higher overall fee in order to pay a reward for block finding.  Small miners aren't expected to find a block *in their lifetime* these days.  The chances of them ever seeing the bonus BTC reward is quite small, but they will be paying higher fees as a result of that potential bonus.

On average though you'd end up earning the same. The effect of the 5% finders fee would just be larger variance - like the 0.5% paid to the block finder on p2pool.



You'd think so, but that's not true because of the increasing difficulty.  i.e. If I put 100ghash to work solo mining (and from here on I'm just going to spit out numbers since I'm not going to do the actual math), then I'd have, say, a 99.99% chance of not finding a block... but then the difficulty level increases, so then it'd be 99.992% chance, and so on.


I thought the same thing. The math is trickier than you think, and confused me  for a long time.

However, it doesn't work quite that way, although for solomining the discrete nature of the reward may mean that your mining device fails before you solve a block where a pooled miner would at least earn something.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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