Bitcoin Forum
December 04, 2016, 06:04:23 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Miner earnings insurance for other pools - requests?  (Read 937 times)
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
June 28, 2012, 08:23:19 AM
 #1

DEEPBIT Miner Earnings Insurance IPO'd at GLBSE today!

I plan on similar offerings for Ozcoin and Slush's pool soon too.

Do you want insurance available for your pool too? I've had a request for Bitminter, and I hope to offer insurance for any pool over 100 Ghps soon. I want to do this in order of most requests - the more requests for a pool, the sooner I'll offer insurance for it.

Are you happy with the insurance as described in the DeepBit thread?

I also have a much simpler version: I simply pay a certain amount per long round, and nothing for shorter rounds. There would be one coupon payment at the expiry of the bond, rather than 10 over two weeks. I think this would make the market a bit more active too.

An example would be to sell bonds for 0.001btc per round covered, and return 7.389 times that, or 0.007389btc  for every round over 2*D long (at the moment, that's every round over 3453133 shares), and nothing for rounds under 2*D. If you've been lucky, you wont need it, if unlucky there'll be a big payout.

This method has the same expected payout as the other method but I think it's a lot simpler to understand, and calculate for yourself.

Edit: As discussed below, this is not useful for miners at pools that only offer Pay-Per-Share payouts.
It is useful for
  • miners who receive a non-PPS payout, or
  • for pool operators who have to pay their miners PPS.


Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
1480831463
Hero Member
*
Offline Offline

Posts: 1480831463

View Profile Personal Message (Offline)

Ignore
1480831463
Reply with quote  #2

1480831463
Report to moderator
Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480831463
Hero Member
*
Offline Offline

Posts: 1480831463

View Profile Personal Message (Offline)

Ignore
1480831463
Reply with quote  #2

1480831463
Report to moderator
1480831463
Hero Member
*
Offline Offline

Posts: 1480831463

View Profile Personal Message (Offline)

Ignore
1480831463
Reply with quote  #2

1480831463
Report to moderator
bulanula
Hero Member
*****
Offline Offline

Activity: 518



View Profile
June 28, 2012, 05:21:10 PM
 #2

What about GPUMAX insurance ? Cheesy

In any case, you should clarify if this is for PPS pools or non-PPS pools Wink

Graet
VIP
Legendary
*
Offline Offline

Activity: 980



View Profile WWW
June 28, 2012, 06:02:41 PM
 #3

What about GPUMAX insurance ? Cheesy

In any case, you should clarify if this is for PPS pools or non-PPS pools Wink


tl;dr: Low fee PPS for proportional DeepBit miners



Benefits
This service provides earnings insurance for Bitcoin miners who want some of the benefits of Pay-Per-Share without changing pools or paying a large Pay-Per-Share fee.

Bitcoin miners on DeepBit who prefer a non Pay-Per-Share payment method often post on the forum with concerns about variance affecting their earnings - especially if they are new miners, mine with a low hashrate, or are dependant on their short term mining earnings in some way.


it is pretty well covered in the link provided in OP Smiley

| Ozcoin Pooled Mining Pty Ltd https://ozcoin.net Double Geometric Reward System https://lc.ozcoin.net for Litecoin mining DGM| https://crowncloud.net VPS and Dedicated Servers for the BTC community
bulanula
Hero Member
*****
Offline Offline

Activity: 518



View Profile
June 28, 2012, 06:11:49 PM
 #4

What about GPUMAX insurance ? Cheesy

In any case, you should clarify if this is for PPS pools or non-PPS pools Wink


tl;dr: Low fee PPS for proportional DeepBit miners



Benefits
This service provides earnings insurance for Bitcoin miners who want some of the benefits of Pay-Per-Share without changing pools or paying a large Pay-Per-Share fee.

Bitcoin miners on DeepBit who prefer a non Pay-Per-Share payment method often post on the forum with concerns about variance affecting their earnings - especially if they are new miners, mine with a low hashrate, or are dependant on their short term mining earnings in some way.


it is pretty well covered in the link provided in OP Smiley

It is but he should say this is not for PPS pools since there is no variance with that method Wink

Just an observation. No point doing this insurance thing for PPS like BTC guild IMHO ... only risk is eleuthria runs with coins which is unlikely.
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
June 29, 2012, 12:58:22 AM
 #5

That's right, Bulanula, - no use to PPS miners, only proportional or score miners on a given pool -  although I could provide insurance to the BTCGuild pool operators if they want, or any PPS pool operator.


Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
eleuthria
Legendary
*
Offline Offline

Activity: 1750


BTC Guild Owner


View Profile WWW
June 29, 2012, 01:42:43 AM
 #6

That's right, Bulanula, - no use to PPS miners, only proportional or score miners on a given pool -  although I could provide insurance to the BTCGuild pool operators if they want, or any PPS pool operator.

I would've taken that last month!  Actually lost money in May as a result of poor luck Sad.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
organofcorti
Donator
Legendary
*
Offline Offline

Activity: 1946


Poor impulse control.


View Profile WWW
June 29, 2012, 02:02:03 AM
 #7

That's right, Bulanula, - no use to PPS miners, only proportional or score miners on a given pool -  although I could provide insurance to the BTCGuild pool operators if they want, or any PPS pool operator.

I would've taken that last month!  Actually lost money in May as a result of poor luck Sad.

Ouch! I noticed your luck index had been down for a while, and only picked up last week.

I could do insurance for you if you're serious though. I don't need the exact round length information. I would pay based on the number of blocks solved in a difficulty period compared to the number of blocks you'd expect to solve in that period based on your hashrate.

I'd have to think about how to payout based on poisson probabilities instead of negative binomial ones, but PM me if it's something you're considering.


Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
follow @oocBlog for new post notifications
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!