0.5% fee - Pools - Central Cavern Mining Co - Pools

[Collider]

(looks like our friend became impatient)

Yes, well now he can be happy that he will get the same (small) payout for days and days every time a block is found.

Maybe he then understands the PPLNS payout system.

[raskul]

yes, well now he can be happy that he will get the same payout for days and days every time a block is found.

Maybe he then understands the PPLNS payout system.

I remember when difficulty first got so high that DGM rounds on bitparking were 400 and 500 hours.
now that's a block round!    

[Collider]

GH.io also uses PPLNS, the rounds are just shorter. It is the same system though...

[jonnybravo0311]

Right guys I know I know that's not about money DECENTRALISING but 69pence for 2h 22m 5TH ??

How is it that people can invest so much money and not have a clue about their investment?  Seriously... go read up on how mining works, and the different payout systems.

Unbelievable.

[raskul]

XXX.io also uses PPLNS, the rounds are just shorter. It is the same system though...

ewwww... he who must not be named ^^^


it's swings and roundabouts really, regardless of where you mine or what algo you use, payouts will more often than not, average the same amount for your hashrate, at the end of the day.
and here was me thinking we were going to start off with 1% of the p2pool network... oh well, more marketing required methinks!  

[Collider]

XXX.io also uses PPLNS, the rounds are just shorter. It is the same system though...

ewwww... he who must not be named ^^^ !XXL! is he who must not be named...


it's swings and roundabouts really, regardless of where you mine or what algo you use, payouts will more often than not, average the same amount for your hashrate, at the end of the day.
and here was me thinking we were going to start off with 1% of the p2pool network... oh well, more marketing required methinks!  

HA! I caught you on a thought of monopolism! Be prepared to argue your case against the Bitcoin Police of the Mind!

That is how it starts you GH shill! Soon you will want to build the biggest p2pool node available and enslave us all with "your" hashpower!

 

[CentralCavern]

Miner Willy will rule the universe mwahahaha

[Collider]

BTW is this a normal dead / orphan rate of shares?

Does it become lower when the pool pears with more other pools, or is it solely dependant on the miners?

[raskul]

BTW is this a normal dead / orphan rate of shares?

Does it become lower when the pool pears with more other pools, or is it solely dependant on the miners?

Looking at other nodes with similar setup, yes, it looks normal;

this is murdof's node (Greece) http://pool.nitro.gr:9332/static/ - which is running on a slightly less powerful server than ours.

Since launch, at one point we had 7 miners on the node, so i suppose the more miners; the more orphan/dead shares we might see.
So, to answer your questions; it seems normal, however with being quite new to p2pool myself, i'll look further into this when i get some time and report back.

[Collider]

I think the main source of dead shares was the previous miner (who didn´t understand PPLNS), who also had a higher reject rate

Everyone who is mining on the node now seems to have a good ping.

[raskul]

I think the main source of dead shares was the previous miner (who didn´t understand PPLNS), who also had a higher reject rate

Everyone who is mining on the node now seems to have a good ping.

Looks all good to me!

One other thing, i would prefer to keep 0% fee but others have intimated that they wouldn't mind paying a small fee to use centralcavern nodes.

Should i keep it 0% or instigate a minimal fee structure?

I really don't mind either way since miners are free to guve dinations as stated on the noisy page.
Your thoughts on this would be appreciated.

[Collider]

I don´t know the cost of a server, apart from the one i recommended for Iceland.

If e.g the Iceland node ends up with 10TH and you can get ~20$ a month from merged mining NMC (currently~3TH for that) or DVC, i would think a voluntary donation would be nice.
I would definately send a donation to cover part of the Iceland node cost.

It also depends on wether you would use the server for anything else, if you need a server with residual ~400GB of storage anyway then it becomes "profitable" quite quickly.

Finally, i think you would probably receive more in donations with a 0% pool fee in comparison to a pool fee.
You will also receive higher donations when people are still able to hear after visiting the pool page

[murdof]

BTW merge mining sounds nice but it really doesn't give you a big profit.
I have for example 13000 Fusioncoin which it is not even traded.
I0C is not traded either.
So if you talk about NMC, DVC, IXC the difficulty is the same as bitcoin but value is very small.

Good to have - but I have come to the conclusion it is a lot of fuss for nothing...

e.g. Huntercoin is a resource hog which is still syncing the blockchain for almost 1 week...
HUC has value but again I don't expect to mine much.
I can't be bothered to go to an exchange tbh.
I just prefer to check my wallet and see the bitcoins coming in...

[raskul]

I think the conclusion in this matter is that the 0% fee should remain.
Murdof is right about the merge mining; it's precious-little for what seems to be just a drain on resources.
I gave up trying to install a HUC wallet locally and i think it will most likely save money by removing it as a merged coin, due to its pull on the VPS resources.

I should also remark; in no way do i expect any donations towards the upkeep, i'm doing this because i enjoy learning and because i feel p2pool is the way we should all be mining. So, please do not feel obliged to give anything as a donation.

I'll set about getting the Iceland server up, hopefully this week as the wife and I are away this weekend.

[Collider]

I think namecoin gives you around 0.5% extra income, so this should be enough to cover the 20€/month expense (or whatever it takes).

I don´t know how long the setup takes, but it would be a "donation" of your working time most likely. Again, i would give a small donation to help cover the cost of the server.

I thought NMC wouldn´t be too difficult to set up, but i don´t know.

P2pool doesn´t only help decentralize mining, but also helps build reliable Bitcoin nodes, as every server has to run the full copy of the Bitcoin client.

[raskul]

I think namecoin gives you around 0.5% extra income, so this should be enough to cover the 20€/month expense (or whatever it takes).

I don´t know how long the setup takes, but it would be a "donation" of your working time most likely. Again, i would give a small donation to help cover the cost of the server.

I thought NMC wouldn´t be too difficult to set up, but i don´t know.

P2pool doesn´t only help decentralize mining, but also helps build reliable Bitcoin nodes, as every server has to run the full copy of the Bitcoin client.

Thing is, the merged coins are all solo mined by the overall node hashrate so there is no guarantee that blocks will be cracked.

 

[Collider]

Ah okay, didn´t know that.

So it basically is very luck dependant.

Another question: How much traffic are you generating on your node?

[Collider]

Welcome on the node, new user

[murdof]

Ah okay, didn´t know that.

So it basically is very luck dependant.

Another question: How much traffic are you generating on your node?

Do you mean web traffic? i.e. how much bandwidth you would need to run it?

If you have Bitcoin P2P on - then it can pull a lot of data.
Otherwise it is minimal. You can run it over DSL line.

[jonnybravo0311]

Ah okay, didn´t know that.

So it basically is very luck dependant.

Another question: How much traffic are you generating on your node?

That's correct.  The key here is that when you're merged-mining, you are effectively solo-mining the coins with the node's hash rate.  I've been running my own p2pool node since April, and typically I'm the only one on it (mostly because I don't advertise it since I run it on my rMBP from home).  Since I've been mining, I got lucky and managed to crack a BTC block (on April 26).  That gave me block rewards for NMC, IXC, I0C, DVC.  I've since added FSC.  I'm pretty sure FSC is dead in the water since the last time I checked the website and block explorer were offline, but the last time I was able to access it, my node represented up to half of the entire hashing power of the coin (and I've only got about 1.8TH/s).

At any rate, I guess what I'm stating is that if your node gets a respectable amount of hashing power, merged-mining becomes worthwhile (at least you can trade the NMC, IXC, DVC).  Until then, well...

As for web traffic, if you let p2pool and Bitcoin core have their way, they'll push/pull large amounts of data because peers are constantly hitting your node to download the block/share chains.  You can kind of limit things by setting max connections for both, but running a wide open node will eat up your bandwidth.  It can be detrimental to your node's efficiency, because if your pipe is clogged with a ton of traffic from peers downloading the chains, shares you submit might end up orphaned because they took to long to be broadcast.