[ANN] CoinLab Protected Pool

[AmDD]

Ive also been here awhile and have about 4.6million points which I figure should last me over 100 days with my 2.3Gh/s. However, I did use 2 MMQs to help collect these points and have since traded them in and I used a few hashpower leases adn pointed them here during the 100%+ payout times.

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[Nancarrow]

Coupla quick questions for Coinlab or anyone else to answer... still unclear on two things.

1) The client we use to redeem loyalty points. I understand the custom client didn't come out in time and so we can just use 'any' client. Just want to clarify 'any'... a couple of posts up someone says we can use cgminer. Okay but what if my rigs are BAMTs running phoenix. Can I use those? Preferably without changing from phoenix to cgminer? (this old dog is starting to find new tricks a pain)

2) Redeemed points are initially earned in USD but paid out in BTC. Okay. When are the payouts? Are they weekly on Mondays like before the apocalypse, or do we pm you whenever we want a payout? If the latter, it strikes me I could attempt to increase my earnings by speculating. Not that I usually have much luck with that.

[mendoza]

Coupla quick questions for Coinlab or anyone else to answer... still unclear on two things.

1) The client we use to redeem loyalty points. I understand the custom client didn't come out in time and so we can just use 'any' client. Just want to clarify 'any'... a couple of posts up someone says we can use cgminer. Okay but what if my rigs are BAMTs running phoenix. Can I use those? Preferably without changing from phoenix to cgminer? (this old dog is starting to find new tricks a pain)

...

I'm using cgminer on BAMT and phoenix on my laptop to redeem loyalty points: seems working for both.

[CoinLab]

Coupla quick questions for Coinlab or anyone else to answer... still unclear on two things.

1) The client we use to redeem loyalty points. I understand the custom client didn't come out in time and so we can just use 'any' client. Just want to clarify 'any'... a couple of posts up someone says we can use cgminer. Okay but what if my rigs are BAMTs running phoenix. Can I use those? Preferably without changing from phoenix to cgminer? (this old dog is starting to find new tricks a pain)

2) Redeemed points are initially earned in USD but paid out in BTC. Okay. When are the payouts? Are they weekly on Mondays like before the apocalypse, or do we pm you whenever we want a payout? If the latter, it strikes me I could attempt to increase my earnings by speculating. Not that I usually have much luck with that.

1) Yes, you can currently use any mining client to redeem.

2) Payouts will work like before the "apocalypse"  .  Automatic if you have at least 1BTC on mondays, and then by special request throughout the week. You may also request to be added to the thursday payout list, for automatic thursday payouts as well (if over 1 BTC). If you don't want automatic payouts (because you want to speculate, etc.) let me know, and I can put a payment hold on your account so you can request special payouts to time when the conversion happens.  Note that we use the MTGOXUSD 24 hour average, and it may take us up to a business day to pay out, so you're only practically able to speculate on days-sized price movements, not minutes-sized.

[Transisto]

Has the 95 -> 97% been fixed for those who sent more than 1m share a week ?

[CoinLab]

Has the 95 -> 97% been fixed for those who sent more than 1m share a week ?

It's 1.125M, not just 1M.

Yep, that was just an accounting issue for one user, which has been resolved (sent the bonus separately when I found out). This monday everyone who submitted more than 1.125M to protected was given 97%.  I process all the payouts manually still, so please let me know if any of your numbers look off.  Mistakes are rare, but they happen occasionally, and I'll do my best to remedy the error as soon as I know of it.

[chungenhung]

I don't see how loyalty points will help that much. I've been mining steady here since their announcement and it seems I only have enough loyalty points to mine about $350 worth of BTC ? I've been at or around 7-8GH since the beginning.

So this will buy me about 2 maybe 3 weeks of mining ?

How does this entice anyone to keep their rigs going without any HPC work ?

That is why Coinlab need to come out with HPC before people ran out of loyalty points and started to sell their machines. But then again, there's a lot of gamers out there. Bitcoin is not everything that coinlab has, but I would assume a big chunk of computing power comes from bitcoin.

[chungenhung]

Do we still get paid on Mondays for the protected pool? I've got some balance there.

[CoinLab]

Do we still get paid on Mondays for the protected pool? I've got some balance there.

Protected Pool payouts will go out like normal: all balances above 1BTC will be paid out.  If you have a balance less than 1BTC and you don't plan on mining further on the protected pool, let me know and send the remainder.

Note: the 1 BTC threshold is per-pool.  So if you have 0.5 on protected and 0.5 on redeem, neither will be flagged for payout.  If you want a payout in this situation, PM or email me, and I'll be sure to process it for you.

[TheHarbinger]

Nothing personal against you guys as CoinLab, but personally I see no reason to continue to point my gear at you guys.  With the block reward being reduced, quite clearly the profit margin has significantly decreased for all miners, regardless of what gear they are using.  That being said, while personally my GPU systems are still profitable, every little bit counts now more than ever.  I can see no reason to stay here until/unless the HPC client is released and providing work.  There are just to many other pools out there with far more features, and lower fees.

I wish you all the best of luck, and I hope I will be back soon with the release of the HPC client and work.

[GenTarkin]

Nothing personal against you guys as CoinLab, but personally I see no reason to continue to point my gear at you guys.  With the block reward being reduced, quite clearly the profit margin has significantly decreased for all miners, regardless of what gear they are using.  That being said, while personally my GPU systems are still profitable, every little bit counts now more than ever.  I can see no reason to stay here until/unless the HPC client is released and providing work.  There are just to many other pools out there with far more features, and lower fees.

I wish you all the best of luck, and I hope I will be back soon with the release of the HPC client and work.

What, you have no more loyalty points to redeem or something?!

[jcpham]

I'd like the balance emptied on my protected pool account whenever possible. I believe I left 252,845 shares there.

[TheHarbinger]

Nothing personal against you guys as CoinLab, but personally I see no reason to continue to point my gear at you guys.  With the block reward being reduced, quite clearly the profit margin has significantly decreased for all miners, regardless of what gear they are using.  That being said, while personally my GPU systems are still profitable, every little bit counts now more than ever.  I can see no reason to stay here until/unless the HPC client is released and providing work.  There are just to many other pools out there with far more features, and lower fees.

I wish you all the best of luck, and I hope I will be back soon with the release of the HPC client and work.

What, you have no more loyalty points to redeem or something?!

I have all my "Loyalty Points" left, I just see no reason to use them at this time.

[jcpham]

Nothing personal against you guys as CoinLab, but personally I see no reason to continue to point my gear at you guys.  With the block reward being reduced, quite clearly the profit margin has significantly decreased for all miners, regardless of what gear they are using.  That being said, while personally my GPU systems are still profitable, every little bit counts now more than ever.  I can see no reason to stay here until/unless the HPC client is released and providing work.  There are just to many other pools out there with far more features, and lower fees.

I wish you all the best of luck, and I hope I will be back soon with the release of the HPC client and work.

What, you have no more loyalty points to redeem or something?!

I have all my "Loyalty Points" left, I just see no reason to use them at this time.

I basically agree with TheHarbinger about the no reason to mine at coinlab unless they get the HPC client rocking and rolling, with the exception of the loyalty points though. My thoughts are that If you believe the value of BTC will rise, it is prudent to redeem those points now, rather than later. This is because Coinlab is repaying in USD and then converting to BTC based on market forces.

[Transisto]

The expected generation output, from 1000 Mhps, at current difficulty 3438908.96015914, is 0.1462 BTC or 1.80$ per day @ 12.33$ 
so using loyalty point currently pay 38% more.

[GenTarkin]

The expected generation output, from 1000 Mhps, at current difficulty 3438908.96015914, is 0.1462 BTC or 1.80$ per day @ 12.33$ 
so using loyalty point currently pay 38% more.

Exactly..

[CoinLab]

Today's payouts have been sent. 

Redeem pool payouts were converted at the BTCUSD rate of 12.57 (bitcoincharts' daily average).

Everyone who had a balance over 1BTC through last week was paid out (12.57 USD if on the redeem pool).  As always, if you'd like a special payout, send me an email or PM.

Cheers!

CoinLab

[crazyearner]

are shares been still earned here or stopped as of the date said on first page or was that for new people ?

[AmDD]

are shares been still earned here or stopped as of the date said on first page or was that for new people ?

You can still earn shares here just like any other 95% PPS pool, you just can not earn loyalty points.

[monstrs]

Everything goes well with loyality points. Waiting for first payment (probably next monday).