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Author Topic: Why do you mine on deepbit?  (Read 16991 times)
bitlane
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March 06, 2012, 08:33:12 AM
 #121

Yes but P2Pool is better in anything you said.

And is really free. Because YOU host p2pool. No need to waste money on servers

I'm not about to sit here and argue the merits of P2P mining vs. Pool Mining because we all know that decentralization is best.

NOW, in saying that, it's a wonder why more of the BIG miners (25 GH/s and larger) have not switched over to P2Pool yet. I mean, it's not due to the fact that they don't know what they are doing, because ANYONE who is able to maintain a mining farm larger than 10 GH/s obviously knows what they are doing.
What could the deciding factor be then ?....that keeps miners such as these still tied to the large pools ? Well, in short ? PROVEN PERFORMANCE.

Perhaps once P2Pool gets a rock solid 6+months under it's belt as a top 10 pool, more miners will find their way there, but for now, with an investment that is as sizeable as some have (again, the LARGE miners) it makes more sense for them to keep a solid income stream coming in from a proven side of the technology and let the smaller miners with alot less to loose, be the 'Beta Testers' for new technologies such as P2Pool.....Sound reasonable ?

As an example, the current top 10 miners at BTCGuild could easily/effectively DOUBLE the current P2Pool hashrate, but they still choose to mine at a pool to protect their investments and seem to have no problem PAYING for the privilege to do so.......

I only have 6 GH/s under my belt, as I sold off a bunch of equipment after the crash a few months ago and am now replacing with more efficient hardware, so I am a perfect candidate for P2Pool, yet I still choose to pay to have someone else ensure that my BTC income stream is guarded and remains coming in as usual.

Unless you have as much to loose, it's easy for a sub-10 GH/s miner to call the bigger miners with tens-of-thousands invested into hardware, IDIOTS for giving up profits for the opportunity to mine at a fee based pool.....but put yourself in THEIR shoes and see how your views might change.

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March 06, 2012, 01:22:29 PM
 #122

nonsense

Why the world don't use bitcoin? Why it's so small? Maybe paypal and dollar is better after all. But then why we are here?

Also, p2pool is open source, nothing is hidden. Performance? It's the same of a normal pool. No need to trust anything.

So since they are big they must be right? Then we are better uninstall bitcoin, we are small.
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March 06, 2012, 03:29:37 PM
 #123

nonsense

Why the world don't use bitcoin? Why it's so small? Maybe paypal and dollar is better after all. But then why we are here?

Also, p2pool is open source, nothing is hidden. Performance? It's the same of a normal pool. No need to trust anything.

So since they are big they must be right? Then we are better uninstall bitcoin, we are small.

Is it safe to assume, judging by your 'English as a second language' reply, you may have missed the simple point I was trying to get across in my post above and only picked up on certain points, but completely out of context ?

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March 06, 2012, 03:43:35 PM
 #124

Yup, english is my second language. Maybe i shouls start write in my language and use google translator, who know...  Maybe i should translate it like 4-5 times between other languages for increased randomness...

Your point is that the "big guys" stay on other pools instead of moving to p2pool, and thus you try to imply that it's somehow p2pool fault. Problem is this is not true. It's a fact that they are NOT on p2pool. But it's also a fact that p2pool is better than a pool with fees. P2pool works, there aren't "game-breaking" bugs, payouts are received and mining work without problems.
P2pool is small but isn't so new, it has been around since a lot of time, and no one report "my btc vanished, help me" things.
bitlane
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March 06, 2012, 03:57:40 PM
 #125

Yup, english is my second language. Maybe i shouls start write in my language and use google translator, who know...  Maybe i should translate it like 4-5 times between other languages for increased randomness...

My comment wasn't meant to be an insult Wink

Your point is that the "big guys" stay on other pools instead of moving to p2pool, and thus you try to imply that it's somehow p2pool fault. Problem is this is not true. It's a fact that they are NOT on p2pool. But it's also a fact that p2pool is better than a pool with fees. P2pool works, there aren't "game-breaking" bugs, payouts are received and mining work without problems.
P2pool is small but isn't so new, it has been around since a lot of time, and no one report "my btc vanished, help me" things.

I just think that the 'big guys' will move away from pools once P2Pool has MORE of a track record, that's all.
I should have said it more simply, but that was the point I was trying to make.

Let the 'smaller guys' with less equipment 'test' P2Pool, because moving a big mining farm and having to watch over it to ensure everything is working properly can be alot of work Wink

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March 06, 2012, 04:02:37 PM
 #126

Having a better interface and less things active would be better.
Normal pool: you start the miner and that's all
P2pool: you need also bitcoin and p2pool running and hope none of them crash  Undecided (and bitcoin QT client is prone to crash with p2pool... but not bitcoind as far as i know)
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March 06, 2012, 04:07:16 PM
 #127

P2pool: you need also bitcoin and p2pool running and hope none of them crash  Undecided (and bitcoin QT client is prone to crash with p2pool... but not bitcoind as far as i know)

I had the same problem when I tried P2Pool (QT crashing), so I just ran cmd line BitcoinD rather than the wallet GUI, then used Safebit (html RPC app) for wallet functions when mining.
Problem solved.

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March 07, 2012, 01:45:05 AM
 #128

I image the large miners like features like sms if a miner goes down. I stopped checking my miners a long time ago. I only check the hash rate once or twice a day and that's it. A free non prop, merged mining pool with sms is the way to go if you ask me. What else do you need?
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March 07, 2012, 01:55:10 AM
 #129

I have a 20GH/s farm and use p2pool.  However like many large farmers I need to hedge my bets.  So I started w/ one rig and then a couple.  Currently I have 10GH/s.  In time I will move my whole 20 GH/s.  There is no rush.  I imagine there are many miners in the same camp.  Slowly p2pool GH/s per user is creeping up indicating the hashing power per user is rising.  Either small miners are getting rich and adding cards or it is accounts like mine where every couple days another rig gets moved over.

As far as p2pool crashing.  Use it with bitcoind.  I don't know any conventional pool which runs pool server of GUI wallet.  It is asinine to even try.  Also IF p2pool client goes down which is never has in my 30 days of testing any smart miner is using cgminer w/ failover so rigs redirect to backup pool.

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March 08, 2012, 06:00:30 PM
 #130

Im still on deepbit because i Fucking hate having Three Open Windows just to mine.... rather than One, just like D&T had stated earlier...

We need to Pack all these multiple things into one gui!, Then P2Pool could actually spread!

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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March 09, 2012, 07:48:53 PM
 #131

While I mine at a smaller, fee free pool... I don't hate Deepbit.  In ANY game, there is going to be a boss.  Deepbit is the boss hog in the bitcoin game.

Don't be mad because he has a shitton of money!!

I buy and sell GPUs, most 5850s and 7970s. 
jimzolorenzo@gmail.com  -- Make an offer.
http://myworld.ebay.com/i_buy_5850s  -- current inventory
I have a couple bare bone mining rigs for sale as well.

--------------

I bought silver from [ccliu] 5 star transaction!
I bought silver from [TECSHARE] -- shipping still
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March 09, 2012, 09:20:44 PM
 #132

Deepbit's website recently stated that it had reached 1M BTC mined.  They take a 3% fee, so 1M is 30,000 BTC, or about $150,000.  I wouldn't be surprised if half of that was taken up by hosting costs on anti-DDOS servers and refunding people for rejected shares and bad blocks.  So I don't think Tycho has a ton of money from this.
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March 09, 2012, 09:22:16 PM
 #133

Deepbit's website recently stated that it had reached 1M BTC mined.  They take a 3% fee, so 1M is 30,000 BTC, or about $150,000.  I wouldn't be surprised if half of that was taken up by hosting costs on anti-DDOS servers and refunding people for rejected shares and bad blocks.  So I don't think Tycho has a ton of money from this.
Ummm... about that fee...

It's 3% only on proportional. It's actually 10% (TEN PERCENT) on PPS.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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March 09, 2012, 09:23:34 PM
 #134

Deepbit's website recently stated that it had reached 1M BTC mined.  They take a 3% fee, so 1M is 30,000 BTC, or about $150,000.  I wouldn't be surprised if half of that was taken up by hosting costs on anti-DDOS servers and refunding people for rejected shares and bad blocks.  So I don't think Tycho has a ton of money from this.
Ummm... about that fee...

It's 3% only on proportional. It's actually 10% (TEN PERCENT) on PPS.
Right.  And I bet PPS mining on deepbit makes up a very small percentage of the total miners.
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March 09, 2012, 09:27:39 PM
 #135

Deepbit's website recently stated that it had reached 1M BTC mined.  They take a 3% fee, so 1M is 30,000 BTC, or about $150,000.  I wouldn't be surprised if half of that was taken up by hosting costs on anti-DDOS servers and refunding people for rejected shares and bad blocks.  So I don't think Tycho has a ton of money from this.
Ummm... about that fee...

It's 3% only on proportional. It's actually 10% (TEN PERCENT) on PPS.
Right.  And I bet PPS mining on deepbit makes up a very small percentage of the total miners.
I doubt it, but I guess we won't know unless [Tycho] decides to tell us.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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March 10, 2012, 03:01:19 AM
 #136

No one uses prop anymore unless they don't know what they are doing..All those people have small miners. The exception would be pool hoppers.
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March 10, 2012, 03:58:50 AM
 #137

No one uses prop anymore unless they don't know what they are doing..All those people have small miners. The exception would be pool hoppers.
Why would a pool hopper go PPS?
cuz0882
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March 11, 2012, 08:35:27 AM
 #138

No one uses prop anymore unless they don't know what they are doing..All those people have small miners. The exception would be pool hoppers.
Why would a pool hopper go PPS?
Proportional is not pps
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March 11, 2012, 08:51:52 AM
 #139

No one uses prop anymore unless they don't know what they are doing..All those people have small miners. The exception would be pool hoppers.
Why would a pool hopper go PPS?
Proportional is not pps
Yeah I misread... why do you say no one uses proportional anymore?  AFAIK, no one uses PPS anymore.  Huh
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March 11, 2012, 03:07:54 PM
 #140

Quote
Yeah I misread... why do you say no one uses proportional anymore?  AFAIK, no one uses PPS anymore.

Is this a serious statement?  Huh

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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