A Bitcoin.com mining pool?

[arnoudk]

Will there be a pool server in Iceland?

I still have a few miners there (I'll be evaluating their performance in the next month or two to see what the halving has done with the profitability). It would be great to connect them to a local pool server.

I would guess it makes sense to put servers in or near locations where mining happens!

Thanks

[arnoudk]

Slightly related: I am considering purchasing some S9's I have a number of 1000W PSUs which are not powerful enough, but can I use two 1000W PSUs to power one AntMiner? I get it that I would need to use one PSU for one miner board - but can I use different PSUs for the different boards?

[rogerver]

Slightly related: I am considering purchasing some S9's I have a number of 1000W PSUs which are not powerful enough, but can I use two 1000W PSUs to power one AntMiner? I get it that I would need to use one PSU for one miner board - but can I use different PSUs for the different boards?

I don't see why that would be a problem, but that may be a better question to ask Bitmain directly.
Or perhaps some other miner here will know as well.

I believe we are planning to have one of the pool servers in Amsterdam. I suspect that should provide good connectivity to Iceland as well.

[iFixBTCmemoryIssues]

Slightly related: I am considering purchasing some S9's I have a number of 1000W PSUs which are not powerful enough, but can I use two 1000W PSUs to power one AntMiner? I get it that I would need to use one PSU for one miner board - but can I use different PSUs for the different boards?

I don't see why that would be a problem, but that may be a better question to ask Bitmain directly.
Or perhaps some other miner here will know as well.

I believe we are planning to have one of the pool servers in Amsterdam. I suspect that should provide good connectivity to Iceland as well.

[rogerver]

The Bitcoin.com pool is approaching completion, but I would love some feedback from existing miners.
We currently have the payouts designed so that it is proportional to how much hashing power each miner contributed since the last block.

For example, if your mining equipment contributed 2.5% of the total hashes since the previous block was found, you will receive 2.5% of the block reward, and 2.5% of the mining fees.
100% of the coin base, and the mining fees are paid out to the miners, so our pool will operate with a 0% fee until if/when we start to get close to having 51% of the network mining with us.

Do you think this payout structure will be attractive to miners?
Is there anything that we should do differently regarding this?

[iFixBTCmemoryIssues]

The Bitcoin.com pool is approaching completion, but I would love some feedback from existing miners.
We currently have the payouts designed so that it is proportional to how much hashing power each miner contributed since the last block.

For example, if your mining equipment contributed 2.5% of the total hashes since the previous block was found, you will receive 2.5% of the block reward, and 2.5% of the mining fees.
100% of the coin base, and the mining fees are paid out to the miners, so our pool will operate with a 0% fee until if/when we start to get close to having 51% of the network mining with us.

Do you think this payout structure will be attractive to miners?
Is there anything that we should do differently regarding this?

The most important aspect is ROI and making sure people are paid, 2 things I know you will have no problem delivering.

[armedmilitia]

For example, if your mining equipment contributed 2.5% of the total hashes since the previous block was found, you will receive 2.5% of the block reward, and 2.5% of the mining fees.

I don't want to be a negative nelly, but I believe you're describing the PROP payout method, which can be abused by a mining strategy called pool hopping. Meni Rosenfeld on Stackexchange put together a good writeup of how the attack works and why PROP is broken:

The most well-known form of pool-hopping is with pools using the proportional method, which is among the oldest, simplest, most widely used and most prone to hopping. By all accounts hopping in this context was first discussed in a paper from January 2011 by Nakamoto Ryo; a more accurate analysis was given shortly after in Optimal pool abuse strategy by Raulo; these results were extended in Analysis of Bitcoin Pooled Mining Reward Systems by myself.

In the proportional method, a block's reward is distributed between miners in proportion to the number of shares each of them submitted since the previous block; the reward per share is the block reward divided by the number of shares in the round. Because of this, the reward of a share submitted at any given time is affected by the number of shares already submitted since the last block; a share submitted early in the round will have a higher reward on average than a share submitted later.

It can be shown that until the number of shares in the round is 43.5% of the difficulty, a submitted share will have higher than normal reward on average; the optimal way to exploit a single proportional pool is to mine in it until this point is reached, hop to a different pool, and return when a block is found. The gain that can be achieved by following this strategy is up to 28.1%, depending on the ratio between the hashrates of hoppers and continuous miners in this pool (the more hoppers, the less they will gain). The gain can be higher if more than one proportional pool is taken advantage of (for example, 51.6% can be achieved with 2 pools).

The extra profits of hoppers come at the expense of the continuous miners. The exact loss depends on the ratio between hoppers and continuous miners; when they are equal the loss is about 17.1%, and the theoretical limit when there are only hoppers is 43.5%.

Original post: http://bitcoin.stackexchange.com/questi ... ol-hopping

If I were you I would consider PPLNS or PPS. PPS may be the only way to attract miners, as this pool will start off small and with high variance. However, the pool operator is guaranteed to lose with 0% PPS in the long run, because roughly 1 in 50 (IIRC) blocks are orphaned.

[rogerver]

It's almost ready!

[BitcoinXio]

It's almost ready!

Looking good Roger. It's time to close out some of those tabs you have open though!

[iFixBTCmemoryIssues]

It's almost ready!

This looks majestic, well done!!!!!!!!!!!!!!!

[iFixBTCmemoryIssues]

It's almost ready!

Looking good Roger. It's time to close out some of those tabs you have open though!

Holy tabs, you beat me to it

[rogerver]

We are actually already mining the majority of the coins on test net.
We have 32K Testnet coins already.

I'm looking forward to doing the same thing on the main network soon.

[kingscrown]

We are actually already mining the majority of the coins on test net.
We have 32K Testnet coins already.

I'm looking forward to doing the same thing on the main network soon.

SOunds awesome. I will add my Neptune to the network when it runs

[rogerver]

The Pool Devs would love to get some feedback from miners if the block page is sufficient, or if they need more/other/less data displayed. They think they have all the important parts so miners can see our pool is fair. Please let us know what else is needed from the miner's point of view!

[iFixBTCmemoryIssues]

The Pool Devs would love to get some feedback from miners if the block page is sufficient, or if they need more/other/less data displayed. They think they have all the important parts so miners can see our pool is fair. Please let us know what else is needed from the miner's point of view!

Looking good

[jwithrowa0]

I stumbled upon this thread while researching mining pools. A small businessman in my neck of the woods recently asked me how he could accept Bitcoin as payment for his services. I happily helped him set up a wallet, BitPay, and I sent him a little BTC to get him started.

It turns out his services are building and installing solar power systems so I also planted the seed that electricity costs were the biggest barrier to entry when it comes to mining bitcoins. A few days later he proposed a partnership: he would provide the solar power if I provide the mining hardware. Right now we only have the solar capacity to power 3 antminers, but we intend to scale the operation with mining proceeds. We have a turn-key system in place that will easily incorporate new solar panels, new batteries, and new mining rigs as profits permit.

I am looking to get started with an S9 or two soon to get the ball rolling. It's not much, but I would love to contribute our hashing power to your pool. I was hoping to find a mining pool that was trustworthy and philosophically sound... I suspect you take the cake on that point.

Cheers!

[DavidWright]

Nice... Its good idea. Thanks for providing information.

[rogerver]

I am looking to get started with an S9 or two soon to get the ball rolling. It's not much, but I would love to contribute our hashing power to your pool. I was hoping to find a mining pool that was trustworthy and philosophically sound... I suspect you take the cake on that point.

Cheers!

Thanks so much!
We would love to have you mine with our pool!
In addition to being philosophically sound, I also intend to make the Bitcoin.com mining pool the best deal financially for every miner in the space.
I wish you good luck with the solar power mining farm, as that sounds very fun too!

[jwithrowa0]

In addition to being philosophically sound, I also intend to make the Bitcoin.com mining pool the best deal financially for every miner in the space.
I wish you good luck with the solar power mining farm, as that sounds very fun too!

Can't argue with that logic! Thanks for the well-wishes... I am excited to give it a whirl.

[rogerver]

We now have mining pool nodes live in:

• Silicon Valey
• London
• Stockholm
• Beijing China!

[AndrewStone]

awesome map looks great!

[rogerver]

The Bitcoin.com alpha pool is now ready for people to test with.
It is currently mining on TEST NET, so any hashing power you point here will only be mining test net coins.

Please understand that we are aware that lots more work needs to be done,
but we would love some feedback from people on what actual bugs need to be fixed.
If you have an old miner sitting around, now is your excuse to play with it again.
Please do your best to break things, and then let us know what went wrong in this thread.


Get started: https://poolbeta.bitcoin.com/login

[iFixBTCmemoryIssues]

The Bitcoin.com alpha pool is now ready for people to test with.
It is currently mining on TEST NET, so any hashing power you point here will only be mining test net coins.

Please understand that we are aware that lots more work needs to be done,
but we would love some feedback from people on what actual bugs need to be fixed.
If you have an old miner sitting around, now is your excuse to play with it again.
Please do your best to break things, and then let us know what went wrong in this thread.


Get started: https://poolbeta.bitcoin.com/login

Point all of your hashing power here, it is the future of Bitcoin.

[jwithrowa0]

I am getting my first S9 plugged into a solar-power system tomorrow. Before I get the miner powered up, would anyone be willing to fill me in a bit more on Core vs. Classic vs. Unlimited? I am familiar with the block size debate only at the surface level, and if I understand correctly Classic wants to double the block size and Unlimited wants to remove restrictions.

Is this correct? Are there any other material differences?

Also, which mining pool would you recommend while Bitcoin.com is still working out the kinks?

[bitkilo]

Why not add a little monero mining into the pool, could be profitable.

[rogerver]

I am familiar with the block size debate only at the surface level, and if I understand correctly Classic wants to double the block size and Unlimited wants to remove restrictions.

Is this correct? Are there any other material differences?

Also, which mining pool would you recommend while Bitcoin.com is still working out the kinks?

This is a little bit incorrect.
Classic wants an immediate bump to 2MB
Unlimited doesn't mean unlimited block size.
The Bitcoin Unlimited client give users the ability to manually set what the maximum block size they are willing to accept, and what the maximum size they are willing to create. (if they are a miner)

Slush Pool today allows your miner to vote for on chain scaling now.

I'd also love to see some photos of your solar powered mining rig.

[jwithrowa0]

Its not much to look at for the moment, but here's the first S9 hashing away. The garage has basically been converted into a power hub with solar panels on the roof feeding into several inverters and a battery bank. It's scalable in that additional panels and additional batteries can be added over time to support new mining rigs. The next step is to shelf the S9's and partition off that section of the garage for efficient climate control.



Here's the battery bank:

[iFixBTCmemoryIssues]

Its not much to look at for the moment, but here's the first S9 hashing away. The garage has basically been converted into a power hub with solar panels on the roof feeding into several inverters and a battery bank. It's scalable in that additional panels and additional batteries can be added over time to support new mining rigs. The next step is to shelf the S9's and partition off that section of the garage for efficient climate control.



Here's the battery bank:

Very cool, glad to see people such as yourself involved in Bitcoin - true innovators and entrepreneurs!

Hopefully you will be pointing your hashpower towards a free Bitcoin

[rogerver]

jwithrowa0, Very cool!
If I may be so bold as to ask:

• How many watts total is your solar system?
• Is it able to charge the batteries enough during the day to keep the miner running all night?
• How much did the whole setup cost?
• Was there a government subsidy of the price as well?

Thanks for posing something so interesting!

[jwithrowa0]

Very cool, glad to see people such as yourself involved in Bitcoin - true innovators and entrepreneurs!

Hopefully you will be pointing your hashpower towards a free Bitcoin

I will do my best - I certainly plan to contribute to Bitcoin.com's pool when it is ready to roll. Free markets, free minds, and sound money strike me as noble causes worth pursuing. And good whiskey, can't forget that one.

I can't claim credit for anything in this set-up other than the Antminer, however. My partner handles the solar piece of the puzzle, I just happened to peak his interest in Bitcoin and provide the mining rigs.