Author Topic: [ANN] Go Mine It Alt-coin P2pool  (Read 4083 times)

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Offline lopheadedTopic starter

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[ANN] Go Mine It Alt-coin P2pool
« on: May 29, 2013, 04:22:31 AM »
Go mine it
newbielink:http://www.gomineit.com/ [nonactive]


           
Go Mine It


P2Pool is a decentralized mining pool that works by creating a peer-to-peer network of miner nodes.

PPLNS
1% FEE
US Server
newbielink:http://www.gomineit.com/ [nonactive]
Features that all P2Pool nodes offer:
•PPLNS
•No registration, Just start mining!
•Payout instantly whenever a block is found on any node.
•No minimum payout as long as you have an active share
•P2Pool pays the block reward AND all the TX fees in that block! Other pools keep the TX fees for themselves.
•Decent graphs show your progress and speed.
•No coins stored in the server's wallet. Better security. Payouts show up as a mined transaction.
•If node goes down, mine at another P2Pool node. No loss of PPLNS shares, other nodes guarantee your payout. Use other nodes as backups in your miner config.

Why should I mine on P2Pool?
P2Pool is a distributed mining pool. Nodes from around the world pool their hash power together to find blocks. A block found on any node = a payout for everyone, on every node!
Distributed hashing power helps keep the LTC network strong and safe.

Why should I not mine on P2Pool?
Some people do not like PPLNS, as payouts vary based on the luck of finding blocks. P2Pool must operate this way in order to leave 0 coins on the server.
P2Pool works best for miners who stick around for a while (see "What is PPLNS" below).
Miners with low hash rates may have huge variance.

Why does my miner say it has found a lot of shares but I have no payouts and P2Pool doesn't list my payout address?
The real P2Pool share difficulty is much higher than on normal pools. P2Pool essentially lies to your miner and tells it to work on relatively easy shares so that it submits shares every few seconds instead of every few hours. P2Pool then ignores any submitted shares that don't match the real share difficulty. By doing this, P2Pool can more accurately report your local hash rate and you can see if you are having problems quicker. Miners with low hash rates may have huge variance.

What is PPLNS
Pay Per Last Number of Shares.
Let's use a car analogy. Say you start mining (step on the gas). When you begin, your PPLNS rate is low but increasing (speedometer starting from 0 and going up). After several hours, you will reach your actual PPLNS rate. If you increase your hash rate (step harder on the gas), it will take some time for your pay rate to adjust. When you stop hashing (remove your foot from the gas), your pay rate will slowly decline (coasting to a stop), until hours later it reaches 0.
PPLNS method of payment is hop proof because it takes longer to ramp up to your actual pay rate.
PPLNS is influenced by luck. Whenever P2Pool finds a block, all miners are paid instantly at their current pay rate. If P2Pool finds several blocks in a row, everyone is paid again and again and again at their current pay rate. If P2Pool doesn't find a block for a while, then no payouts are issued.

What is a "mined" transaction?
A "mined" transaction is how a solo miner, or how a pool is paid for finding a block. A mined transaction contains the current block reward and all the TX fees collected in that block.
Mined transactions take 120 confirmations before they can be spent.
When P2Pool finds a block, it looks at the current pay rate of all miners, and rewrites the mined transaction, giving the correct amount to every miner.

If I switch from one P2Pool node to another, will I lose my PPLNS shares?
You can switch nodes on P2pool as much as you like with no penalty as long as you keep using the same payout address as your username.


P2Pool Node is running PPLNS Reward System So it will take about 24 hours of Steady Mining to See your expected Full reward amount.
« Last Edit: May 29, 2013, 04:26:01 AM by lopheaded »


 

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