[ANN] CoinLab Protected Pool

[philips]

I joined coinlab recently. When exactly is the monday payment?

On Mondays. 

 

Really, there is no precise hour for payments, is not an automated process, they are processed manually by Chris.
So that is gonna take a while. Just wait few more hours.

[jamesg]

I joined coinlab recently. When exactly is the monday payment?

On Mondays. 

 

Really, there is no precise hour for payments, is not an automated process, they are processed manually by Chris.
So that is gonna take a while. Just wait few more hours.

In all seriousness, it seems they have an automated process that runs when they press a button. Coinlab is on the West Coast of the US, so it's 6:12am there now.

I would not expect to see a payment for at least 8 to 10 hours. Also, you'll need to have mined more than 1 BTC in order to get a payment.

[GenTarkin]

The main site has very poor information. For example, where you can see your "Bonus" points?

bonus points, 'loyalty points' are equal to 'Total Shares'

These guys are working hard on a back end that will provide a valuable service long after gpu mining becomes un-profitable.

Do you think we can keep the 'I dont like the font' and 'The website is not as good as other pools' to a minimum please?

True true

Please, mind your own business. I do not see a problem with members giving some feedback.

Fine then, why did you guys change the font to bold...makes the page look way to busy! =P

[ShadesOfMarble]

This update applies to both the web interface and the API stats.

How can I access the API?

[jcpham]

So far my stay at coinlab has been pleasant. :-)

[jjiimm_64]

The main site has very poor information. For example, where you can see your "Bonus" points?

bonus points, 'loyalty points' are equal to 'Total Shares'

These guys are working hard on a back end that will provide a valuable service long after gpu mining becomes un-profitable.

Do you think we can keep the 'I dont like the font' and 'The website is not as good as other pools' to a minimum please?

True true

Please, mind your own business. I do not see a problem with members giving some feedback.

Fine then, why did you guys change the font to bold...makes the page look way to busy! =P

only the 'combined' is bold, individual workers are not bold.....

I think they made them bold to more easily distinguish between from the individual workers

[midnight]

The main site has very poor information. For example, where you can see your "Bonus" points?

bonus points, 'loyalty points' are equal to 'Total Shares'

These guys are working hard on a back end that will provide a valuable service long after gpu mining becomes un-profitable.

Do you think we can keep the 'I dont like the font' and 'The website is not as good as other pools' to a minimum please?

+1

[philips]

Well, the thing is that while it lacks a lot of features (compared with other pools) the site had a definite professional look. There was something stylish in the way design, colours and fonts were chosen and it looked much better than any pool site I know.

It inspired professional quality and trust as something carefully assembled from A to Z.
With the new fonts it looks like made by a bunch of amateurs.
My point is, visuals matters a lot and they help building confidence.

 

[CoinLab]

Are you planning on adding merged mining with nmc?

I doubt it, from what I understand, we are only mining bitcoins on this pool temporarily. Once they get things setup fully we will be doing other work with our GPUs and being paid in bitcoins. The amount of work to setup merged mining I don't think would be worth their time.

This is pretty much our thoughts on merged mining right now.  We think our HPC opportunities will have a MUCH larger upside than 0.5%, so these features are our #1 priority.  If the upside grows above 1%, we'll reevaluate adding merged mining to our pool.

Note, until we sell our cluster's full capacity, our miners will intermittently mine Bitcoin between HPC jobs.

[ShadesOfMarble]

Any news on how you will pay out on Nvidia compared to AMD/ATI hardware? As NV is dead slow when mining bitcoins but better for most HPC work, will there be some kind of compensation?

I'm thinking about replacing my two 580 GTX in my desktop computer with something (much) less power hungry. Unless you have a model where it makes sense to use such video cards, then I'll keep them.

[CoinLab]

Well, the thing is that while it lacks a lot of features (compared with other pools) the site had a definite professional look. There was something stylish in the way design, colours and fonts were chosen and it looked much better than any pool site I know.

It inspired professional quality and trust as something carefully assembled from A to Z.
With the new fonts it looks like made by a bunch of amateurs.
My point is, visuals matters a lot and they help building confidence.

The new "design" of the worker update was done by our CTO, Mike, who is a developer.  We pulled a late night getting the worker functionality working before he left for vacation last Friday, and ended up pushing it to live even though the design wasn't perfect.  We believe Bitcoin miners tend to value functionality over design, so we were OK with having a less-pretty but more-useful version up for this week.

When Mike gets back, we'll fix the layout of the web interface to restore its previous level of polish.  

Pardon our ugliness!  Thanks for sharing your thoughts: feedback helps us prioritize what to do next.

PS:  Processing payouts now.

[jamesg]

feedback helps us prioritize what to do next.

Please keep my GPUs profitable long after the reward halves and ASICs arrive.   

[jjiimm_64]

PS:  Processing payouts now.

\

Great!  dont forget us 3% 'ers

[CoinLab]

Any news on how you will pay out on Nvidia compared to AMD/ATI hardware? As NV is dead slow when mining bitcoins but better for most HPC work, will there be some kind of compensation?

I'm thinking about replacing my two 580 GTX in my desktop computer with something (much) less power hungry. Unless you have a model where it makes sense to use such video cards, then I'll keep them.

This depends on how our first HPC deal comes together.  None of this is set in stone, but here is one possibility we have discussed:

- Calculate a Bitcoin-denominated base value for a work unit.  Measure the amount of time it takes card model X to complete a work unit, calculate how much BTC would have been earned if that card had been mining instead.  Do this across a range of AMD card models, and take an average to get the average expected value for completing that work unit (on an AMD card).

- We apply an HPC bonus to the base rate.  How big this can be depends on our profit margins, but I think its likely to be > 30%. I'm hopeful that by this time next year, the bonus rate will be 100%+ expected Bitcoin mining earnings.

- Based on supply and demand factors, we may adjust the bonus rate to incentivize new miners to join. (Keep your eyes out for an upcoming "miner elasticity experiment").

- AMD cards earn the HPC bonus over the base rate for each work unit: they'll get something like ~30%+ over what they otherwise would have earned mining.  

- NVIDIA cards will simply earn based off how many work units they solve.  If an NVIDIA card is 3X more efficient at solving a given HPC problem, they will earn 3x as much Bitcoin for doing that work. (And often NVIDIA cards are 3x faster than a comparable AMD at HPC tasks).

Eventually we want to make a market, so bonus rates will be set based on supply and demand.  We'd love for miners to be able to set, "My power costs X. I'm willing to do commercial HPC work for 1.3 X.  I'm willing to do Academic work units for as low as 1.05 X.  If no work at that rate is available, mine Bitcoins.  If mining Bitcoins would earn less than 1.05 X, sleep."  Then, our software will figure out which jobs to do based on your ruleset, and automatically switch between them for you to maximize profit.

EDIT: Monday Payouts have been sent.

[jjiimm_64]

Any news on how you will pay out on Nvidia compared to AMD/ATI hardware? As NV is dead slow when mining bitcoins but better for most HPC work, will there be some kind of compensation?

I'm thinking about replacing my two 580 GTX in my desktop computer with something (much) less power hungry. Unless you have a model where it makes sense to use such video cards, then I'll keep them.

This depends on how our first HPC deal comes together.  None of this is set in stone, but here is one possibility we have discussed:

- Calculate a Bitcoin-denominated base value for a work unit.  Measure the amount of time it takes card model X to complete a work unit, calculate how much BTC would have been earned if that card had been mining instead.  Do this across a range of AMD card models, and take an average to get the average expected value for completing that work unit (on an AMD card).

- We apply an HPC bonus to the base rate.  How big this can be depends on our profit margins, but I think its likely to be > 30%. I'm hopeful that by this time next year, the bonus rate will be 100%+ expected Bitcoin mining earnings.

- Based on supply and demand factors, we may adjust the bonus rate to incentivize new miners to join. (Keep your eyes out for an upcoming "miner elasticity experiment").

- AMD cards earn the HPC bonus over the base rate for each work unit: they'll get something like ~30%+ over what they otherwise would have earned mining.  

- NVIDIA cards will simply earn based off how many work units they solve.  If an NVIDIA card is 3X more efficient at solving a given HPC problem, they will earn 3x as much Bitcoin for doing that work. (And often NVIDIA cards are 3x faster than a comparable AMD at HPC tasks).

Eventually we want to make a market, so bonus rates will be set based on supply and demand.  We'd love for miners to be able to set, "My power costs X. I'm willing to do commercial HPC work for 1.3 X.  I'm willing to do Academic work units for as low as 1.05 X.  If no work at that rate is available, mine Bitcoins.  If mining Bitcoins would earn less than 1.05 X, sleep."  Then, our software will figure out which jobs to do based on your ruleset, and automatically switch between them for you to maximize profit.

EDIT: Monday Payouts have been sent.

I do not understand why it has to be as complex as 1.3 times x and this + 30% of Y???

cant you just pay btc per work unit and let the miner figure out if they want to mine or not?

commercial HPC work pays:  0.00004500 btc per work unit  (remember when gpumax was paying solid 5000)
Academic work pays:          0.00002100 btc per work unit.  

[CoinLab]

Any news on how you will pay out on Nvidia compared to AMD/ATI hardware? As NV is dead slow when mining bitcoins but better for most HPC work, will there be some kind of compensation?

I'm thinking about replacing my two 580 GTX in my desktop computer with something (much) less power hungry. Unless you have a model where it makes sense to use such video cards, then I'll keep them.

This depends on how our first HPC deal comes together.  None of this is set in stone, but here is one possibility we have discussed:

- Calculate a Bitcoin-denominated base value for a work unit.  Measure the amount of time it takes card model X to complete a work unit, calculate how much BTC would have been earned if that card had been mining instead.  Do this across a range of AMD card models, and take an average to get the average expected value for completing that work unit (on an AMD card).

- We apply an HPC bonus to the base rate.  How big this can be depends on our profit margins, but I think its likely to be > 30%. I'm hopeful that by this time next year, the bonus rate will be 100%+ expected Bitcoin mining earnings.

- Based on supply and demand factors, we may adjust the bonus rate to incentivize new miners to join. (Keep your eyes out for an upcoming "miner elasticity experiment").

- AMD cards earn the HPC bonus over the base rate for each work unit: they'll get something like ~30%+ over what they otherwise would have earned mining.  

- NVIDIA cards will simply earn based off how many work units they solve.  If an NVIDIA card is 3X more efficient at solving a given HPC problem, they will earn 3x as much Bitcoin for doing that work. (And often NVIDIA cards are 3x faster than a comparable AMD at HPC tasks).

Eventually we want to make a market, so bonus rates will be set based on supply and demand.  We'd love for miners to be able to set, "My power costs X. I'm willing to do commercial HPC work for 1.3 X.  I'm willing to do Academic work units for as low as 1.05 X.  If no work at that rate is available, mine Bitcoins.  If mining Bitcoins would earn less than 1.05 X, sleep."  Then, our software will figure out which jobs to do based on your ruleset, and automatically switch between them for you to maximize profit.

EDIT: Monday Payouts have been sent.

I do not understand why it has to be as complex as 1.3 times x and this + 30% of Y???

cant you just pay btc per work unit and let the miner figure out if they want to mine or not?

commercial HPC work pays:  0.00004500 btc per work unit  (remember when gpumax was paying solid 5000)
Academic work pays:          0.00002100 btc per work unit.  

There will probably be a "manual mode", but we think most miners won't want to do the math themselves.  We'd like our client to automatically switch miners between jobs to maximize their profits, and let them optionally set some rules about what kinds of work they are willing to do.  If you are really passionate about science, and are willing to offer your GPU time for Protein Folding at a lower rate than CGI rendering, we want to let you.  Generally, however, I think miners are going to want to take whichever job is paying the highest rate, and our "default" settings will do just this.

One thing that makes a BTC/workunit figure hard to make decisions with is that every work unit will be a different "size". Some work units will take your 7970 seconds to finish, some might take as long as an hour.  Because of this, we'll probably quote miners rates denominated in BTC per GPU-model-hour, so when you see a higher rate, it means that you'll earn more doing that work unit.

[jjiimm_64]

One thing that makes a BTC/workunit figure hard to make decisions with is that every work unit will be a different "size". Some work units will take your 7970 seconds to finish, some might take as long as an hour.  Because of this, we'll probably quote miners rates denominated in BTC per GPU-model-hour, so when you see a higher rate, it means that you'll earn more doing that work unit.

Let the miners decide. they will have to experiment with some cards are good for x work and some cards are good for y work

x work pays .5btc per work unit (7970 taking an hour)
y work pays .0003 btc per work unit.  (nvidia good for this type)
z work pays .00001690 btc per unit (hell, a cpu might work )


I am just trying to think of the KISS method.  
offer the work at price x (accessed thru json of course) and miners will mine it. if they are not profitable, they wont mine it....

giving an estimate of btcperhour is nice, but until you actually do the work, you wont know.

[imsaguy]

Let the miners decide. they will have to experiment with some cards are good for x work and some cards are good for y work

x work pays .5btc per work unit (7970 taking an hour)
y work pays .0003 btc per work unit.  (nvidia good for this type)
z work pays .00001690 btc per unit (hell, a cpu might work )


I am just trying to think of the KISS method.  
offer the work at price x (accessed thru json of course) and miners will mine it. if they are not profitable, they wont mine it....

giving an estimate of btcperhour is nice, but until you actually do the work, you wont know.

I second this.  Take the BOINC approach and create a standard workunit and let the crunchers figure out the comparisons.  Believe me, they'll have it worked out PDQ.

[GenTarkin]

IS there any update in ETA as to when the client software will be avail / when these HPC projects are coming around? I remember a couple months ago, it was quoted "a couple months" ... well its a couple months later and no word regarding either of those =(

[ShadesOfMarble]

This thread was opened 2 months ago... that's not what I would call "a couple"