[OFFLINE]P2Pmining.com-Hybrid P2Pool-NO FEE!!!-BTC/NMC/IXC/I0C/DEV/LTC

[Tittiez]

Shit. Forgot about subsidies, my bad. I checked the transaction log.  Received 0.09092350 on Tuesday.  I will code in to credit miners for subsidies ASAP.  Thanks for the heads up.

Nice to see you don't keep them, that basically pays for the fee in itself.

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[macboy80]

Very good idea. I will be watching. Thanks.

[JayCoin]

Tesing subsidies on the server.  I will be crediting the previous subsidy to current miners to test the update (Start mining now to get the biggest portion).

P2Pmining block 61 is the only subsidy actually received.  The other earlier blocks indicating subsidies were internal test transactions.

EDIT: Back pay of subsidy completed. Thank you for your support.

[CrownCloud]

Why not reduce the minimum payout amount ? Make it instant pay as-soon-as its confirmed ?

[Sukrim]

You might end up with "bitdust" - nearly worthless microtransactions that cause high transaction fees in the current vanilla client and bloat the blockchain. If you don't even trust the Poolop for ~2USD, you might consider mining in P2pool on your own imho.

A nice extension would be to pay out via generation transactions though, but I'm not sure how/if this would work with P2pool seeing your pool just as one big miner.

[CrownCloud]

You might end up with "bitdust" - nearly worthless microtransactions that cause high transaction fees in the current vanilla client and bloat the blockchain. If you don't even trust the Poolop for ~2USD, you might consider mining in P2pool on your own imho.

A nice extension would be to pay out via generation transactions though, but I'm not sure how/if this would work with P2pool seeing your pool just as one big miner.

I trust the pool operator, it was just that other pools pay at like 0.1-0.01 BTC and this one pays at 0.5 BTC

[JayCoin]

You might end up with "bitdust" - nearly worthless microtransactions that cause high transaction fees in the current vanilla client and bloat the blockchain. If you don't even trust the Poolop for ~2USD, you might consider mining in P2pool on your own imho.

A nice extension would be to pay out via generation transactions though, but I'm not sure how/if this would work with P2pool seeing your pool just as one big miner.

I trust the pool operator, it was just that other pools pay at like 0.1-0.01 BTC and this one pays at 0.5 BTC

I am going to try out the sendmany method to distribute payments everytime a block is confirmed, but it is going to take a couple of days.

Which pools payout at such a low balance?  Eligius is 0.67108864 .

[CrownCloud]

You might end up with "bitdust" - nearly worthless microtransactions that cause high transaction fees in the current vanilla client and bloat the blockchain. If you don't even trust the Poolop for ~2USD, you might consider mining in P2pool on your own imho.

A nice extension would be to pay out via generation transactions though, but I'm not sure how/if this would work with P2pool seeing your pool just as one big miner.

I trust the pool operator, it was just that other pools pay at like 0.1-0.01 BTC and this one pays at 0.5 BTC

I am going to try out the sendmany method to distribute payments everytime a block is confirmed, but it is going to take a couple of days.

Which pools payout at such a low balance?  Eligius is 0.67108864 .

Well EclipseMC pays what ever balance is confirmed, no minimum as such. DeepBit also pays at 0.01 I guess a few more pay at 0.01 and 0.1

[twmz]

You might end up with "bitdust" - nearly worthless microtransactions that cause high transaction fees in the current vanilla client and bloat the blockchain. If you don't even trust the Poolop for ~2USD, you might consider mining in P2pool on your own imho.

A nice extension would be to pay out via generation transactions though, but I'm not sure how/if this would work with P2pool seeing your pool just as one big miner.

I trust the pool operator, it was just that other pools pay at like 0.1-0.01 BTC and this one pays at 0.5 BTC

I am going to try out the sendmany method to distribute payments everytime a block is confirmed, but it is going to take a couple of days.

Which pools payout at such a low balance?  Eligius is 0.67108864 .

Well EclipseMC pays what ever balance is confirmed, no minimum as such. DeepBit also pays at 0.01 I guess a few more pay at 0.01 and 0.1

All of the places you are talking about have "accounts" where people can log in and choose their preferred payout amount.  P2PMining, like Eligius, doesn't have accounts.  People just use their payment address as their username.  Probably the only safe way to let people specify their preferred payout amount (vs setting it to some reasonable default, which is what JayCoin has done thus far) is to create some web page where people can submit their preference digitally signed by their payout address's private key.

That's a fair amount of effort, would be not entirely obvious for people to understand, and has minimal benefit because IMHO the existing minimum is pretty reasonable (who want's to get paid one nickel at a time anyway?)

[Tittiez]

I am going to try out the sendmany method to distribute payments everytime a block is confirmed, but it is going to take a couple of days.

Which pools payout at such a low balance?  Eligius is 0.67108864 .

You can set whatever you want the payout to be on Slush's and MtRed.

[JayCoin]

I tried a sendmany payout every solved block see transaction http://blockchain.info/tx-index/2888989/384c1f32cc25d38c62b7b4fd2c85122582cb5bcfa8d78d63d7f7f1a6042656e2.  Ended up paying 0.001 transaction fee which is about 20% of the pool fee.  If someone can show me how to avoid that transaction fee, I would be happy to payout every block

EDIT:  Read up about transaction fees and Bitcoin.  Looks like sub 0.01 transactions cause fees in sendmany. I guess i could still lower the payout threshold to 0.1 if a lot of people request it.  Currently there is only one other miner using the pool besides my own (Is this thing a non starter?). The most recent subsidy (block 70) is from me

[Red Emerald]

If you setup namecoin merged mining and paid out on both, I might switch my miner. That would reduce variance on the altchain giving your pool an advantage over p2pool.

[Sukrim]

Ended up paying 0.001 transaction fee which is about 20% of the pool fee.  If someone can show me how to avoid that transaction fee, I would be happy to payout every block

You can include any kind of transaction of any size for free in your own blocks, this might require patching of your bitcoind though.

My suggestion:

Payout on these 2 conditions:
Either your pool (within P2pool) hits a block, then the whole remaining balance gets cleared via a free sendmany included in your block.
Or pay out with one sendmany per day (e.g. at 13:37 UTC) to everyone who has a balance of >0.3 (up to debate, but along these lines) Bitcoins.

Any regular miner then would quite get their daily payouts.
Irregular miners or people who just submit a handful of shares and then leave still get paid once your pool pops a block - they are anyways only having very small amounts of Bitcoins on your "bank" and it will eventually be cleared. You can easily give estimates about how often these "balance resets" happen depending on your pool's hash rate.

[JayCoin]

If you setup namecoin merged mining and paid out on both, I might switch my miner. That would reduce variance on the altchain giving your pool an advantage over p2pool.

I'll work on that this weekend.

[maaku]

What's your stale rate?

EDIT: Sorry, I see that you have that on your website. I should have looked first.

[Tittiez]

What's your stale rate?

6.3%, but when mining with p2pool, stalerate doesn't really matter as EVERY miner has lots of stales. You don't even need to put that into the equation.

[DeathAndTaxes]

What's your stale rate?

6.3%, but when mining with p2pool, stalerate doesn't really matter as EVERY miner has lots of stales. You don't even need to put that into the equation.

Well it is a little more complicated than that.

[Tittiez]

What's your stale rate?

6.3%, but when mining with p2pool, stalerate doesn't really matter as EVERY miner has lots of stales. You don't even need to put that into the equation.

Well it is a little more complicated than that.

True, but I'm trying to get the point across that it doesn't really matter.

[maaku]

What's your stale rate?

6.3%, but when mining with p2pool, stalerate doesn't really matter as EVERY miner has lots of stales. You don't even need to put that into the equation.

Well it is a little more complicated than that.

True, but I'm trying to get the point across that it doesn't really matter.

Except that it does. If I'm getting 7.0% stales on my setup, switching to p2pmining at 6.3% would net me 0.2% profit even after his 0.5% fee. Likewise if I can get much lower on my own, the effective fee of using p2pmining would be that much higher. You can think about it this way: your stale rate is money you are losing out on, but everyone is sees a "bonus" equal to the average stale rate. Only if your stale rate is were exactly the same as the average rate would the net effect be zero.

The op seems to be on par with the average p2pool stale rate, which is good. I would expect that he could do even better though, if he tweaks his connection settings.

[Tittiez]

Except that it does. If I'm getting 7.0% stales on my setup, switching to p2pmining at 6.3% would net me 0.2% profit even after his 0.5% fee. Likewise if I can get much lower on my own, the effective fee of using p2pmining would be that much higher. You can think about it this way: your stale rate is money you are losing out on, but everyone is sees a "bonus" equal to the average stale rate. Only if your stale rate is were exactly the same as the average rate would the net effect be zero.

The op seems to be on par with the average p2pool stale rate, which is good. I would expect that he could do even better though, if he tweaks his connection settings.

I see, didn't think of that.