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Author Topic: [Closed] Pure PPS Bonus - CoinSauce - Instant Payouts - 2 Step Sign Up  (Read 9710 times)
BasementMiner!
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June 19, 2012, 01:19:57 AM
 #1

Pool is closed. See:

It was a difficulty decision to make, but I will be shutting down CoinSauce proxy mining pool indefinitely. There are a few reasons to this decision I would like to note.

We are an unnecessary pool. We don't actually host a pool server on our servers, but proxy the mining requests to other pools. Although we do fail-over from non-responding pools in the backend, we aren't transparent in this matter. Our pool does not benefit the network by distributing hash rate evenly. We are in still control.

There are already a bunch of pools out there that offer better service and track record than us. Mt. Red, EclipseMC, and Ozcoin are some that I recommend.

I would like to thank everyone for using our service, and I will paying out balances + 1 satoshi sometime soon. However payouts are still fully functional and you are able to initiate a manual payout anytime you'd like.

Thanks. I am still working on other Bitcoin projects. Smiley

If you would like to find another pool, I recommend EclipseMC, Mt.Red, Ozcoin.

Thanks! Wink

---

Hi fellow miners, I have been working hard these past few days to bring you a new proxy pool to the market.

As a launch special, the rate is set to 100%. You get charged 0% for the benefit of getting paid per share.

Check us out at CoinSauce.org

# Why us?
Pure PPS - For each valid share you submit, you get paid a fixed amount on-the-spot. Even if the block you're helping to solve comes out to become an orphan.
Instant payouts - Once your balance hits .05 you can cashout your coins immediately, no waiting for 120 confirmations. We even pay the transaction fee as a courtesy of paying your fees!
Low 1.4% fee - While other pure PPS pools may charge 5%, we only charge 1.4%. 98.6% of earnings strictly go to the miners. This is because we take the risk of finding an orphan block and never getting paid.
Full 8 decimal payout - We pay out to the 8th decimal. You get every last satoshi.
Orphan protection - No worrying about the pool mining orphans, you get paid whenever you submit a valid share.
Super simple sign up - Simply paste your Bitcoin address into the input field and press sign up. You will be redirected to your account page afterwards.
Instant stats - Your account page features the latest stats, hash rate and balance. Sexy graphs are coming soon.
Long polling - Seriously, every pool has this, is this even a feature? Cheesy
Hosted on Amazon EC2 - Your account funds will stay safe in a datacenter that has achieved level 1 PCI compliance. Server is secured with private-key access with a TOTP physical token as two-factor authentication to access the AWS account. We use EBS our datastore (redundant storage). Frequent backups to S3 are also in place for disaster recovery.

# Upcoming features
Subworkers - Workers under your account that can be accessed through <username>1, <username>2, <username>3, etc.
Change payment address - Currently you cannot change your payment address without creating a new account. You will be able to do so by signing an message that contains the new address with your private key, and pasting it on your account page.

Even though we take security seriously, we cannot do anything regarding lost funds due to crackers and data loss. Therefore we recommend cashing out when convenient, don't let funds pile up in your account! Profile pages are also public to let others enjoy the satisfaction of clicking a green button so you get your funds faster (no personal information is displayed and payment address cannot be changed).

# How to mine?
After you have registered an account through our 2-step registration, point your miners to our pool using this url. Stats are shown immediately.
http://<worker_name>:asdf@pool.coinsauce.org:8999

# Some potentially popular questions and answers
Since my account page is public, can't others do malicious activites?
No, the worst thing they can do is cashout your balance for you (you get your coins faster) . They cannot change the payment address or anything else. Hell, if they wanted to get coins so bad, they would have been created an account for themselves when they saw our 2-step sign up!

Worker names are also generated through a phonetic key generator to provide a easy to remember and anonymous worker name.

Can I change my payment address?
No, you must create a new account.
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June 19, 2012, 01:24:50 AM
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You can't seriously come waltzing in here with no reputation of being reliable to speak of and expect to be able to charge a fee from the get-go and get away with it?
BasementMiner!
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June 19, 2012, 01:27:47 AM
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You can't seriously come waltzing in here with no reputation of being reliable to speak of and expect to be able to charge a fee from the get-go and get away with it?

Hi, we're sorry for having too little reputation. Thats why we offer instant payouts.
Although that doesn't help a lot with the trust, you be able to cash out immediately.  I'll will strive to answer any additional questions the community has.

I have lowered the minimum payout to .01. You can cashout sooner.
Edit: As a second thought, this will create 5x more transactions in the user's wallet (at the worst) and thus creating more bloat.
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June 19, 2012, 01:29:00 AM
 #4

How can you possibly account for luck with such a low fee? Do you have 10+k in storage to pay out during times of inevitable bad luck?

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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June 19, 2012, 01:34:02 AM
 #5

Hmm, Merged Mining?
BasementMiner!
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June 19, 2012, 01:38:48 AM
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How can you possibly account for luck with such a low fee? Do you have 10+k in storage to pay out during times of inevitable bad luck?

Hi, we are a proxy pool that relays validated miner requests to other pools. We don't need to worry about variance that pools with low hash rates suffer.

In the event the pool we are proxying finds an orphan (or multiple), we will still be able to pay our miners without problem from my funds and the pool's fees.
BasementMiner!
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June 19, 2012, 01:39:59 AM
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Hmm, Merged Mining?

No, unfortunately you only get paid per share in Bitcoins.
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June 19, 2012, 01:41:51 AM
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Hi, we are a proxy pool that relays validated miner requests to other pools. We don't need to worry about variance that pools with low hash rates suffer.

In the event the pool we are proxying finds an orphan (or multiple), we will still be able to pay our miners without problem from my funds and the pool's fees.

So your hopping? Or are you trying the same venture as ABCPool?
BasementMiner!
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June 19, 2012, 01:45:15 AM
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Hi, we are a proxy pool that relays validated miner requests to other pools. We don't need to worry about variance that pools with low hash rates suffer.

In the event the pool we are proxying finds an orphan (or multiple), we will still be able to pay our miners without problem from my funds and the pool's fees.

So your hopping? Or are you trying the same venture as ABCPool?

There are little pools left that offer proportional payouts, so hopping is not really possible.

Yes, correct we work in the same way as ABCPool, but we have a much more simpler interface. Our backend is powered by Node.js, perfect for network applications such as CoinSauce.

Give us a try, you even get paid to do it! If you don't like us thats fine, you can cashout when you hit .05.

In the end, it's about giving the user steady and predictable payouts at a low cost.
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June 19, 2012, 01:59:00 AM
 #10

Figured Id play some devils advocate:

ABCPOOL
Quote
A block yields BTC 50. The number of shares needed for one block is by definition on average equal to the current difficulty. We take a fee of 1.5% in return for the compensation of invalid blocks and stale shares, and for the reduction in risk that you get. That makes the calculation for the payout per share.

My maths still shows that 1.7% is more than 1.5%+stale shares paid.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
BasementMiner!
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June 19, 2012, 02:15:25 AM
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Figured Id play some devils advocate:

ABCPOOL
Quote
A block yields BTC 50. The number of shares needed for one block is by definition on average equal to the current difficulty. We take a fee of 1.5% in return for the compensation of invalid blocks and stale shares, and for the reduction in risk that you get. That makes the calculation for the payout per share.

My maths still shows that 1.7% is more than 1.5%+stale shares paid.

We offer a intuitive web interface with a dead simple sign up and cashout.

1.7% doesn't come out to much after you consider pools like deepbit and btcguild charge an arm and a leg, and it's only .2% more than ABCPool.

I'm considering to pay users half price or full for stale shares. Even though, a good miner like cgminer and long polling will reduce stales enormously. One of my miners that has been running for a month and a half at 1.2ghash has only racked up 320 stales totally, and that doesn't even come up to .01 of a Bitcoin.

But I'm open to criticisms and suggestions. Wink
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June 19, 2012, 02:26:00 AM
 #12

Figured Id play some devils advocate:

ABCPOOL
Quote
A block yields BTC 50. The number of shares needed for one block is by definition on average equal to the current difficulty. We take a fee of 1.5% in return for the compensation of invalid blocks and stale shares, and for the reduction in risk that you get. That makes the calculation for the payout per share.

My maths still shows that 1.7% is more than 1.5%+stale shares paid.

Oh, I always thought it was 2.5%. Well, seeing as I use it for a backup pool this is better anyway, because at ABC a manual payout has a fee of .01BTC for withdraws under 0.2BTC. I'll be payout out here as soon as I get to around .05 anyway.
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June 19, 2012, 04:58:58 AM
 #13

As a launch special, I have increased the payout to 105% the full PPS rate.

Just give us a try! If you don't see us fit, thats fine, you can cash out any time you like! Smiley
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June 19, 2012, 03:22:46 PM
 #14

i have 19 stales out of 18451 shares on current rd of btmax

stale shares shouldnt be more than around 0.25% really


i think mine would be less except i use my upstream to near saturation much of the day, uploading video encodes

Dacentec, best deals for US dedicated servers. They regularly restock $20-$25 Opterons with 8-16GB RAM & 2x1-2TB HDD's (ofc, usually lots of other good stuff to choose from).  I did a Serverbear benchmark of one of my $20/mo Opteron (June last year), it's here.  Have had about a half dozen different servers with Dacentec, & none have failed to sustain at least 40MB/s (burst higher). My favorite is a 12-month rent-to-own ZT Systems 2XL5520 16GB 2x2TB SATA for $40/month (got lucky with the 'off-brand', haven't seen a RTO 2xL5520 for under $50/mo since -- at least for monthly contracts).  wholesaleinternet.com has some ancient 2-core intel CPUs @ $10/mo sometimes (I got an Intel Core 2 6300 @ 1.86GHz, with a 250GB HDD with 46000 hours on it, LOL. $20 @ Dacentec is much better, if you can grab one). joesdatacenter.com (same location as Wholesale Internet) also occasionally has specials (or if you don't want to wait, it has an AMD Opteron 170 @ $16/mo).
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June 20, 2012, 04:12:29 AM
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I like how everything is clear and transparent. Good job! Grin Waiting patiently for more stats.

I think some idiot is pressing the the cash out buttons.
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June 20, 2012, 06:03:20 AM
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I'll give you a try, can't beat 105% PPS.

Feature request: Auto payout at [user defined] BTC.

^This is a big one for me since I like to just let my miners run and not look at them.
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June 20, 2012, 06:15:21 AM
 #17

So, is it now 105 and no fee?  Or with 1.7%fee?  After launch its reduced to 98.3% net?   

Couldn't I do better with no fee merged dgm from the three amigos?  Just asking... Love the proxy by the way!
BasementMiner!
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June 20, 2012, 07:06:34 AM
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I'll give you a try, can't beat 105% PPS.

Feature request: Auto payout at [user defined] BTC.

^This is a big one for me since I like to just let my miners run and not look at them.

What would be best for you? Defining the threshold at sign up or setting it after you sign up when you present a signed message?

I think adding both would be good, thanks!
BasementMiner!
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June 20, 2012, 07:14:53 AM
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I like how everything is clear and transparent. Good job! Grin Waiting patiently for more stats.

I think some idiot is pressing the the cash out buttons.

The profile graphs will come tomorrow. Smiley

I think allowing everyone to cash out your coins for you is a good way to prevent coins from piling up in your balance. We don't want to be liable for large amounts of lost coins if we ever lose coins (which is unlikely given the precautions we take).

But then again, auto-payout is coming soon, so there's little worry for those who set a threshold.
BasementMiner!
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June 20, 2012, 07:18:49 AM
 #20

So, is it now 105 and no fee?  Or with 1.7%fee?  After launch its reduced to 98.3% net?  

Couldn't I do better with no fee merged dgm from the three amigos?  Just asking... Love the proxy by the way!

Sure you can, our pool is for those who want predictable and steady payouts. PPS pools charge a fee because we take the risk of never getting paid if we ever find a orphan.

Unfortunately on other reward methods, miners take the loss. It evens out in the end.
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