DeepBit, Ozcoin and Slush's pool PPS 1.5% to 2%

[organofcorti]

There are a number of ways to reduce mining variance - mine at only large hashrate pools, use only pools with low variance payout methods, or mine at multiple pools. Each of these methods has disadvantages.

I'm offering to pay you a low fee Pay-Per-Share, and take on the variance for you as a form of insurance. Currently DeepBit is already covered and has been paying out claims every one to two days. This service will soon be available for Ozcoin and Slush's pool.

More details:

Deepbit:       https://bitcointalk.org/index.php?topic=87990.0  and https://glbse.com/asset/view/MEI.DEEPBIT.A1
Ozcoin:         https://bitcointalk.org/index.php?topic=92534.0  and https://glbse.com/asset/view/MEI.OZCOIN.B
Slush's pool: https://bitcointalk.org/index.php?topic=92531.0  and https://glbse.com/asset/view/MEI.SLUSH.B

PM me or post if you have any questions.

[1714974370]

1714974370

[organofcorti]

DeepBit B, Slush B and Ozcoin B are all now available at GLBSE:

DeepBit: https://glbse.com/asset/view/MEI.DEEPBIT.B
Ozcoin: https://glbse.com/asset/view/MEI.OZCOIN.B
Slush: https://glbse.com/asset/view/MEI.SLUSH.B

Details are at the links given above. If you have any questions at all, post or pm me before you buy.

[grue]

i don't get it. is this a meta pool that mines to deepbit, slush, and ozcoin?

[organofcorti]

No, it's for miners at Deepbit, Slush or Ozcoin if they aren't already paid PPS. It's something like insurance, something like PPS and a way of reducing your mining variance.

Check the links above, but you buy the bond from me, and over a set number of rounds I pay you an amount based on the total number of shares submitted to the pool per round. If the pool has bad luck, you've earned less through mining and you get more from the insurance than you paid. If the pool has good luck, you've earned more through mining so the insurance pays you less.

The expected final worth of the bond is the cost minus the fee. The exact probabilities of what the insurance will pay are known, and I take a small percentage for taking on your risk. It's essentially a PPS without mining and for a much lower fee.

As an example, a 1.3 Ghps miner buys 100 bond. She will earn from the bonds exactly what she would earn if PPS was available at Slush's pool until they expire.

HTH

[QiVX]

Wait I don't understand this.
I pay for example ozCoin PPS fee + your fee for insurance?

So I would be warning less with you than I would mining at OzCoin?

[organofcorti]

Wait I don't understand this.
I pay for example ozCoin PPS fee + your fee for insurance?

So I would be warning less with you than I would mining at OzCoin?

If you're mining PPS at OzCoin, you wouldn't buy insurance. This is only useful for DGM miners at OzCoin who want to pay less than 5% for PPS - they'd be paying 2% for a PPS equivalent, paid for by their DGM earnings.

[norulezapply]

Why would anyone want to pay a fee to reduce variance when they can just use a no fee PPS pool?

I'd rather have variance than more fees...

[organofcorti]

Because some people don't want variance. If you have an income stream on which you need to rely, then variance makes planning much harder.

[Graet]

Why would anyone want to pay a fee to reduce variance when they can just use a no fee PPS pool?

I'd rather have variance than more fees...

This puzzled me when I was asked to offer PPS to miners that wanted PPS but also wanted to mine at Ozcoin, I said yes at a 5% fee, these miners agreed.
I think there must be more to choosing a pool than just the fee
best
Graet

[organofcorti]

Why would anyone want to pay a fee to reduce variance when they can just use a no fee PPS pool?

I'd rather have variance than more fees...

This puzzled me when I was asked to offer PPS to miners that wanted PPS but also wanted to mine at Ozcoin, I said yes at a 5% fee, these miners agreed.
I think there must be more to choosing a pool than just the fee
best
Graet

Thanks Graet.

Sorry, norulezapply I missed your first sentence, luckily Graet picked up on it. He hit the nail on the head. The main reason I started these is because people wanted to reduce variance but didn't have access to PPS on their preferred pool. In the near future, I hope to get offerings out for some of the smaller pools that don't offer PPS.

And given the zero uptake from Ozcoin miners, I'd say they're happy with the PPS Grate offers.

[organofcorti]

The new improved MEI.DEEPBIT.A1 and MEI.SLUSH.A IPO on 29th July 0:00 UTC:

Deepbit:       https://bitcointalk.org/index.php?topic=87990.0  and https://glbse.com/asset/view/MEI.DEEPBIT.A1
Slush's pool: https://bitcointalk.org/index.php?topic=92531.0  and https://glbse.com/asset/view/MEI.SLUSH.B

[meebs]

Why would anyone want to pay a fee to reduce variance when they can just use a no fee PPS pool?

I'd rather have variance than more fees...

This puzzled me when I was asked to offer PPS to miners that wanted PPS but also wanted to mine at Ozcoin, I said yes at a 5% fee, these miners agreed.
I think there must be more to choosing a pool than just the fee
best
Graet

Sure is!

For example, some things I personally look for in a pool:

1. supported on BTCMon (iOS app)
2. decent up-to-date website that lets me track income and progress, there is just something VERY awesome about refreshing after a minute or two and seeing the PPS balance increase ever so slightly.
3. email notification of idle miners.
4. then, after seeing who meets those criteria, I tend to go for the lowest fee.

[organofcorti]

You should add to the list the amount of uptime a pool has. You can find this in the pool thread.