Re: [BitAffNet] How we're the #1 Bitcoin Mining Pool In The World (proof inside)
I wonder how BAN feels keeping 37.5% of the pools earnings and not paying it out to the miners? I guess that makes BAN happy
Almost 48hrs since BAN found a block so I would say that 37.5% is getting burned up fast. But then again with me getting paid PPS I really don't care how much he makes, but am glad he does to help pay the bills.
Yes I was grinning as I wrote them ...
Yes, what you said is actually the exact point of the comments we've made about long term, but specifically, the statistical expectation is a loss.
All PPS pools indeed have to deal with the statistical expectation that they will eventually run out of BTC generated by mining, that's why they pretty much all charge higher % fees on PPS.
... and that -10% means the expectation is sooner.
PPS also means that a block withhold is a successful direct attack on the pool, not the miners or the withholder.
So again any PPS pool would want to be working out how to cover that if it happened.
I understand what your saying but one difference with BAN is you can set your payout as low as every hour and with no fee. So what s0br did was take all the risk away from the miners. I never was a big fan of PPS pools when I tried them in the past but am happy with the steady payouts. This pool got me to move from GHash. I have a few more miners coming today and have signed up on your pool and may point one of them that way to try it out, but also noticed this morning your pools was having a hard time getting a block.
I guess I never figured BAN would always pay a bonus as it started at 12.5% and at one point 25% for a day to pay back losses shares, then to the 10% it is now. s0br posted that the bonus was to get people to mine at the pool and get the hash rate higher faster but said it was to maybe only last till the pool hit 5PH. The amount he pays out on the bonus is only paid to the miners he does not control which I have a feeling might be 40-50% of the pool. A lot of businesses do a promotion to help kick start it and I see this as no different. Again this is all just my opinion which does not mean much. 😉
The accounts not receiving the 10% would be the accounts owned by the pool since the 10% extra is quite bigger drain on a pool wallet than I gather most realise.
That ~37.5 BTC bonus the pool found would be used up in 15 blocks of 10% bonus payments to all miners.
Yes that very lucky 4 block streak would have to happen once every 15 blocks for the pool to continue paying out a full 10% to every account, using the BTC the pool mines.
So while the hourly PPS payouts keep happening with the bonus 10%, you are indeed ahead of any other PPS pool charging a fee to cover the high risk to the pool for using PPS.