Blisterpool: 120% payout btc mining pool during June

[Hunterbunter]

update: June bonus has been increased to 20%! The server fee has increased to 10% to ensure the default payout remains above the 0.001 btc limit for P2Pool, so the devcoin payout will be approx 33% of the actual bitcoins you receive (20% from the bonus, plus 10% returned from the fee). When the server doesn't get a default payout, it doesn't trigger the devcoin payment, so I need to do this to avoid having to make manual payments.

Keep in mind it takes up to 3 days to reach your full mining potential on P2Pool, so if you're going to commit, do it for at least a week to get the maximum payout possible

Hey all, I just wanted to announce that http://blisterpool.com is paying out 105% 110% value for the month of May.

It's based off a p2pnode with a 2% fee, and is paying that back plus an extra 510% of the pool throughput in devcoins (based on live dvc/btc market rates), which can either be traded at market or held as you please.

Bonus payments will begin on May 1st, 2014, and will continue until the server has finished testing a new devcoin client (probably at least a month, likely for 3). The bonus is coming from devcoin investors (including myself) to help test the software.

The way it works is the pool charges the 2% p2pool fee to get a baseline for throughput, then calculates the total pool payout from there, and miners get a portion of that based on their hash area since the last block was found. It works out to a 5% bonus value over regular pool mining.

For example, if you expect to earn 1 btc from a regular p2pool payout, and are on blisterpool, you'll receive 0.98 btc to your bitcoin address, and approx 0.07142 btc worth of devcoins at market rate to your devcoin address, which you can do what you like with. Initially I'll do it semi-automatically, but it'll be fully automated soon enough.

If there's a huge surge of hash power that I don't expect to be able to cover (eg more than 20 TH/s for a month), I will reduce the bonus rate as necessary and announce it here or on the main page.

You can connect just like any other p2pool:

blisterpool.com:9332 -u <bitcoin address> -x password

before you connect, if you want the bonus dvc you have to go to the main page and put in the bitcoin address you'll be using as well as the devcoin address you want to receive coins on.

[Hunterbunter]

Just a note to those who are connected and have submitted a btc/dvc address pair:

I'm testing my script at the moment so you can expect to see some dvc arrive at your bound addresses over the next couple of hours.

I will set the script to run hourly, and it should activate after every block is found, so you should see dvc appear on your devcoin addresses within an hour of a btc block being found. If it doesn't happen, something may have gone wrong, and rest assured, I'll manually make up more than the difference for the inconvenience.

Lastly, using the same btc address as the dvc address is fine if you know what you're doing. Devcoins use the same key generation algorithm that bitcoins do, so you can dump a private key from your bitcoin wallet and import it into your devcoin wallet to access the funds on the devcoin block chain (it's a pain, but it's possible). There is also one miner who hasn't registered a dvc address, so I can't send a payment to him/her. If that's you, put in your btc and dvc address here: http://blisterpool.com

Happy mining!

[Hunterbunter]

Just a note, dvc payouts will occur when generation blocks mature, not when they are first found. Edited previous post to reflect this.

Never mind this, changed system to pay as soon as blocks are found to avoid a potential mispayment. Dvc payouts should now pay within the hour after a block is found. I've sent payment for the two outstanding blocks which were yet maturing.

[Hunterbunter]

Hmm, someone just connected with a hashrate of about 1.4TH/s...but they're using an invalid bitcoin address, which means they won't get paid for it. Since I can't contact them directly, hopefully they see this message and rectify the mistake.

Does anyone know what happens to p2pool payments that don't have a proper place to go?

[Hunterbunter]

Ok the script seems to be running correctly now, so I'm upping the bonus to 10% for the rest of May (and possibly longer).

[jonnybravo0311]

Hmm, someone just connected with a hashrate of about 1.4TH/s...but they're using an invalid bitcoin address, which means they won't get paid for it. Since I can't contact them directly, hopefully they see this message and rectify the mistake.

Does anyone know what happens to p2pool payments that don't have a proper place to go?

Yes, the pool's default payout address gets the coins.  So, when you setup your p2pool node and start it up, typically you do something like this:

./p2pool.py -a SOMEBTCADDRESS.  That address is what would get the coins from the miner with the invalid address.  If you're not passing the -a parameter, then the bitcoind your node connects to would have a default address already setup by the p2pool software the very first time you start it up, and that address would get the coins.

TL;DR: the same wallet that is getting the 2% fee gets the coins from the miner with the invalid address.

[soapmodem]

How does this pool make any more DVC/NMC/IXC/etc profit than those pools already offering merged mining? (ie Ghash.io)

Or is the bonus being paid out of your own pocket? I'm not quite understanding how you arrive at such a large bonus.

[Hunterbunter]

How does this pool make any more DVC/NMC/IXC/etc profit than those pools already offering merged mining? (ie Ghash.io)

Or is the bonus being paid out of your own pocket? I'm not quite understanding how you arrive at such a large bonus.

Yes it's being paid for out of my own pocket, for the sake of testing the new devcoin client. If the pool successfully finds a block I should get most or all of that paid back through a devcoin bounty: http://www.devtome.com/doku.php?id=devcoin_bounty_now#extra_payout_tool (one after this one). If another pool installs the client and verifies it first, then they'll get it, which is fine by me too. We've been waiting for this for a few months now and progress on the client has halted until we can get this done.

As you know devcoins are merge mined with bitcoins, so the difficulty is now quite high in mining a block. The client made a few changes to transaction fees and things, and while it works fine in a test network, we have to test it live to make sure it can generate blocks properly. For that, we need hashpower. This bonus is just until we can verify it's working correctly, in which case the client I'm running on the node will become official.

[Hunterbunter]

Hmm, someone just connected with a hashrate of about 1.4TH/s...but they're using an invalid bitcoin address, which means they won't get paid for it. Since I can't contact them directly, hopefully they see this message and rectify the mistake.

Does anyone know what happens to p2pool payments that don't have a proper place to go?

Yes, the pool's default payout address gets the coins.  So, when you setup your p2pool node and start it up, typically you do something like this:

./p2pool.py -a SOMEBTCADDRESS.  That address is what would get the coins from the miner with the invalid address.  If you're not passing the -a parameter, then the bitcoind your node connects to would have a default address already setup by the p2pool software the very first time you start it up, and that address would get the coins.

TL;DR: the same wallet that is getting the 2% fee gets the coins from the miner with the invalid address.

Cool, thanks, the miner ended up contacting me and correcting it, and I sent him enough to cover it.

[soapmodem]

How does this pool make any more DVC/NMC/IXC/etc profit than those pools already offering merged mining? (ie Ghash.io)

Or is the bonus being paid out of your own pocket? I'm not quite understanding how you arrive at such a large bonus.

Yes it's being paid for out of my own pocket, for the sake of testing the new devcoin client. If the pool successfully finds a block I should get most or all of that paid back through a devcoin bounty: http://www.devtome.com/doku.php?id=devcoin_bounty_now#extra_payout_tool (one after this one). If another pool installs the client and verifies it first, then they'll get it, which is fine by me too. We've been waiting for this for a few months now and progress on the client has halted until we can get this done.

As you know devcoins are merge mined with bitcoins, so the difficulty is now quite high in mining a block. The client made a few changes to transaction fees and things, and while it works fine in a test network, we have to test it live to make sure it can generate blocks properly. For that, we need hashpower. This bonus is just until we can verify it's working correctly, in which case the client I'm running on the node will become official.

Ah, that makes sense. I'll throw one of my miners your way and see how it goes.

[soapmodem]

Okay, I did try for awhile Hunter but the rejection rate was ~5% and I wasn't getting proper speeds ... p2pool nodes always seem to give me problems. Sorry.

[Hunterbunter]

Okay, I did try for awhile Hunter but the rejection rate was ~5% and I wasn't getting proper speeds ... p2pool nodes always seem to give me problems. Sorry.

That's actually a pretty low (and normal) rejection rate for p2pool. Not sure about the speed problem, though. I've noticed some miners get lowish speeds then turn off then come back on with a lot more, but I haven't been able to speak to them so I don't know what their problem was or how they fixed it.

Regarding the rejection rate, since it's network wide (currently 13% DOA across all nodes), you still get the same slice of a block found.

No worries though, thanks for the attempt

[Hunterbunter]

So we had lots of miners on the pool come and go, but no devcoin block was found. This means we go for another month, but this time I'm increasing the devcoin payout to 20% bonus whenever a bitcoin block is found, and increasing the server fee to 10% to ensure the default address always has a payment (this triggers the devcoin payout script). The 10% fee is returned in bitcoins on top of the bonus, so when you receive 0.1 bitcoin automatically, you should receive approx 0.033 bitcoins worth of devcoins to your devcoin address.

Please keep in mind it takes about 3 days to get maximum payout with p2pool, so if you're going to commit, do it for at least a week then decide if it's worth your time.

[Hunterbunter]

Bonus is still running at 20% for the time being.