Quote from: kano on Today at 01:46:18 AM

Quote from: DaveF on May 19, 2024, 03:07:41 PM

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If VIA or Braiins does not find a block for a week I really don't care. I got paid less.

-Dave

Corrected your line.

To this day I have yet to understand why most miners have zero understanding of the word 'variance'
I guess the correct word would be short-sighted.

Variance means UP and DOWN.
So you are not getting paid less on non-PPS, you are getting paid, varying above and below a higher amount, with an expected higher return.

Just like every business on the planet - some higher and some lower times/seasons.

And to state the obvious, that is exactly how bitcoin works - no matter how big or small the pool is - blocks are random with variance - an expected average time.

Since you compared it to something that is not even comparable, I'll use the same faulty comparison:
Or even as employees in any good company, your wage depends on how the company performs (and how you perform)

The last PPLNS block your pool found was back in January. How much BTC are people mining there not going to make vs mining @ a PPS pool because the next block you find is happening after the 1/2ing although they make less per share they still got all their PPS shares until the 1/2ing paid at a higher rate. And some unknown time in the future when you may find a block they will get a higher % of 3.125+fees. 4 Years ago at the last 1/2ing how much BTC did people loose because they were mining at your pool for months with no block. Yes after that you had a good bit of luck which has now been followed by some really bad luck.

There is a thing as opportunity cost of money. A large PPLNS pool with less variance overcomes that, a smaller one like Ocean or yours does not.

As Phil said a bad month and he could be into pocket for thousands, 2 months and he is in for even more. Others are in the same boat.
Had they been using a PPS pool in that scenario there could be enough BTC coming in to buy another miner.
The flip side of that is that mining in a PPLNS pool might have generated more BTC.

The risk / reward varies for person to person.

Using the 'Or even as employees in any good company, your wage depends on how the company performs (and how you perform)' statement that you made:

in some jobs you don't care how the company does you are a drone stocking shelves or answering calls or whatever. No bonus, no stock options, just that paycheck at the end of the week. That is PPS. If the company implodes on Friday in a couple of days you are at the next job being a drone stocking shelves or whatever. Making more or less what you did before with no real loss.

If you are higher up you get bonuses or stock options or whatever that is PPLNS. But if the company implodes you don't get that bonus at the end of the year because the company is gone and your stock options are now worthless.

-Dave