Quote from: sonikku13 on January 27, 2014, 02:41:09 PM

Honestly, if it was possible that the pool could be PPS, I'd be all over it.

Hi sonikku13

Thank you for the input. Here comes a bit of a long answer, please bare with me.

I know your probably already know this, but I just want to post these two quotes from wiki and one from mulipool, just for anyone else who does not know what the difference is between PPS and other approaches to mining pools.

From wiki: P2Pool mining nodes work on a chain of shares similar to Bitcoins blockchain. When a block is found, the reward is divided among the most recent shares in this share-blockchain. Like the puddinpop and Luke-Jr approaches, p2pool pays via generation.

From wiki: The Pay-per-Share (PPS) approach, first described by BitPenny, is to offer an instant flat payout for each share that is solved. The payout is offered from the pool's existing balance and can therefore be withdrawn immediately, without waiting for a block to be solved or confirmed. The possibility of cheating the miners by the pool operator and by timing attacks is thus completely eliminated. This method results in the least possible variance for miners while transferring all risk to the pool operator. The resulting possibility of loss for the server is offset by setting a payout lower than the full expected value.

From multipool: "this is not a PPS (Pay-Per-Share) pool. Pay-per-Share pools generally charge a much higher fee, in the neighborhood of 3-5%. This pool uses a modified Proportional scoring system. Your balance will not update until a block is found."

Basically, if we were to do PPS, we would have to take a fee, or at least hold on to some of the coins for a while, as a kind of insurance. Since we want to be free and we want the miners to get the most value from their mining power, we have decided for now, not to go with PPS.

Having said that, one of the big advantages of PPS, is the transparency, and that is a major selling point for us. Quote about PPS from above. "The possibility of cheating the miners by the pool operator and by timing attacks is thus completely eliminated.". However, as important as transparency is, it comes in after our #1 priority which is maximizing profits for the miners. And a fee is less profits, which is why we want to avoid it.

Once we launch, I will make a post on our forum, dedicated to discussing this issue. If there is a strong demand for PPS and people are willing to leave a % of their coin as an insurance or pay a fee to cover the risk, we could implement PPS mining down the road. But in the early stages, it will be "Pay Per Work"

Ps. I can assure everyone, that we will do everything possible to show the miners what is happening with their coin, until they are paid out. We will post all the transactions from wallets to exchanges, the exchanges rates and so on.

Thank you for your input.

Quote from: Cryptos2go on January 27, 2014, 10:33:35 AM

In addition to what Wipeout2097 said:

1. Your pool needs to have the ability to divide its hashing power between coins, dynamically shifting hash power as markets and difficulty dictate.

2. You need to trade well, probably better than well, manually and automated/trade bot whatever.

As an example we were mining mooncoin a couple days ago while it was nowhere near the most profitable coin. A couple hours later it reached #2-3 maybe higher (via price, not just a big diff drop) . He sold, we profited. What happened? I don't know and I'm not asking. Cool

1. Yes, we are working on optimizing this right now.

2. Yes. we are working on optimizing this right now. There are a couple of different ways to go with this. Using multiple exchanges to help avoid an instant "sell order" flood is apparently the most effective method for the time being. Good trade bots helps as well, but trading is an art that very few people can do with any kind of profitable consistency. To put it in simple terms. We don't want to gamble with other peoples money.

Thank you for the input.