To raise base mining payout to 120%
Bitcoin.com is blessed to announce wij are raising the base mining pool payout from 110% to 120%. Wij made this decision spil a result of the unnecessary high fees due to the current block size limit, which has bot supported by the Blockstream and Core teams. It is our hope that this punt is resolved soon. Until then, wij will do everything to offset the disincentivizing effects of high fees.
History of Bitcoin.com’s Pool and Bitcoin Unlimited
Last September wij launched our mining pool. It wasgoed the very first ter the world to singularly support Bitcoin Unlimited. Wij embarked our pool to help reduce massive congestion on the network. Presently, transaction speeds are still weighed down by high fees, and wij wished to embark a pool that provided miners with stronger prize incentives ter this environment.
Wij still believe Bitcoin Unlimited and an instantaneous hard fork is the best resolution to the current quagmire. Our Chief Technical officer, Emil Oldenburg, explains this telling, “I truly wish transaction accelerators weren’t necessary. Wij need to eliminate the block size from the overeenstemming code like Bitcoin Unlimited has done and let the blocks be spil big spil necessary. This will lead to a healthier and more innovative discussion on blockchain and transaction optimizations. Wij can’t fix the congestion by building a transaction accelerator, wij voorwaarde raise the block size limit.”
Until the ecosystem comes to a overeenstemming on the current scaling dilemma, Bitcoin.com will proceed to do everything to promote enlargened block sizes. It is our hope that Blockstream and Core’s half-measures are not accepted and their desire to control the network is checked, lest bitcoin neutrality is hamstrung and the ecosystem suffers spil a result of incompetence, poor judgement, and thirst for power.
For more information about Bitcoin.com’s Mining Pool, there is an official discussion thread located te our forum here, and people can also email us at email@example.com for questions and support. Get began now at pool.bitcoin.com.
Pictures courtesy of Bitcoin.com and Shutterstock
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What is a good mining pool/payout prototype for infrequent mining?
I usually mine only, when I do stuff using my PC so it is on anyway. So far I used Slushs Pool but they have a score based prize system, which seem to penalize casual mining. If a long round finishes >15 minutes after leaving the pool (due to shutdown the system) you’ll most likely get nothing at all. What are better payout models for the casual miner and what pools can be used?
There are numerous approaches to pooled mining, each with its own benefits and detriments. Assuming you are a dedicated miner who does not pool hop then the script you describe should be an “edge case” that should infrequently if everzwijn occur. That said, common payout schemes include:
- PPS – Pay Vanaf Share. Each submitted share is worth certain amount of BTC. Since finding a block requires shares on average, a PPS method with 0% toverfee would be 50 BTC divided by . It is risky for pool operators, hence the toverfee is highest.
- SMPPS – Collective Maximum Pay Vanaf Share. Like Pay Vanaf Share, but never pays more than the pool earns.
- ESMPPS – Equalized Collective Maximum Pay Vanaf Share. Like SMPPS, but equalizes payments fairly among all those who are owed.
- CPPSRB – Capped Pay Vanaf Share with Latest Backpay.
- Prop. – Proportional. When block is found, the prize is distributed among all workers proportionally to how much shares each of them has found.
- PPLNS – Pay Vanaf Last N Shares. Similar to proportional, but instead of looking at the number of shares te the round, instead looks at the last N shares, regardless of round boundaries.
- Score – Score based system: a proportional prize, but weighed by time submitted. Each submitted share is worth more te the function of time t since embark of current round. For each share score is updated by: score += exp(t/C). This makes zometeen shares worth much more than earlier shares, thus the miner’s score quickly diminishes when they zekering mining on the pool. Prizes are calculated proportionally to scores (and not to shares). (at slush’s pool C=300 seconds, and every hour scores are normalized)
The significant factor is that you avoid Proportional payout systems spil they are vulnerable to pool-hopping so you will most likely lose some portion of your revenues to hoppers on those pools. For your concerns, SMPPS, ESMPPS or PPLNS would be good choices, but there are other factors to consider and it is ultimately up to you to choose a payout scheme and pool that best fits your needs.
70 MH/s which is obviously above this threshold, but the lower your hashrate the more noticeable the effect can become. Better for low-hashrate miners to stir to something like PPS and take luck out of the equation entirely. &ndash, David Perry Sep Two ’11 at 15:50
Vapid pay-per-share may be best. Thesis tend to have the highest percentage fees, but the payout is 100% predictable. There are a few PPS pools, such spil abcpool.co and btcserv.televisiekanaal with no toverfee. The only thing they keep are the transaction fees, so your payout vanaf submitted share is 50 divided by the current difficulty.
It’s a common misunderstanding that score based prize systems like Slush’s underpay infrequent miners. While it’s true that shares te a given round devalue if you mine towards the beginning of a round and then leave long before it finishes, you have to also take into account the fact that the length of a round is random. So you have equal chances of arriving late ter a round and having your shares worth more than they would have bot by straight proportion, or commencing out a round and having it find a block right at the beginning (making each share worth a lotsbestemming more because there were fewer of them). Ter the long run, thesis all average out flawlessly.
The only circumstance ter which you will be receiving less from a score based pool is if you consistently commence out rounds but then switch to other pools when the rounds “take too long” for your liking. You can’t do this by accident. It’s a specific attack that wij identified and analysed back ter January, and unless you specifically program a miner that does this it’s not going to toebijten consistently by random chance.
That said, there is a slight difference with the score based system for very low-capacity, infrequent miners: enlargened variance te your payouts. Sometimes they will be fatter than normal, and sometimes smaller. Mathematically, it all finishes up coming down to the toverfee you pay, but psychologically this might be hard to take spil sometimes you will feel ripped off, while you might not notice that you also get fortunate just spil much. So it might be lighter on your brain to go with a pay-per-share system or similar, it just won’t be lighter on your pocketbook.
The largest underlying problem with this is that you very likely shouldn’t be mining at all. Even if you only use it when your laptop is on anyways, a 5670 almost certainly draws more power when mining than you earn back te bitcoins, unless you’re paying very low electric current prices (Five cents or less vanaf kilowatt-hour) or using someone else’s electric current (te which case all you’re doing is taking money from them, not earning it). Most likely it’s time to leave the mining to high-efficiency equipments located te very low-cost electric current zones.
For a finish analysis of different mining pool schemes, Meni Rosenfeld has written an excellent paper.