MineBitShares.com - A virtual mining multi-pool for BitShares

[iHashFury]

I have been comparing my old pool simplemulti.com with http://pool.minebitshares.com using 30MH

Minebitshares is a little more profitable as it stands.

0.0059289 BTC (simplemulti)

0.0060 BTC (minebitshares)

about 1.33963 BitUSD a day for 30MH

Mining BitGOLD or BitSILVER would be great for marketing

30MH is about 0.03265865064 grams of BitGOLD a day

or 2.43569090909 grams of BitSILVER a day

[matt608]

Mining bitGOLD would be great too, mining gold with a computer!  Could that be an option?

[nethyb]

minebitshares.com as it is, is not an attractive pool to the miners.  It is limited to only two algos - scrypt and X11, and some limited coins.  It does not have a baseline profitability comparison eg to LTC, and estimated earnings per day.  If you want to attract miners, you need to match what the multipools offer.

Profitability comparison is nice I agree. I been mining for a week or so now and I been happy with the payouts. I wasn't doing any better with clevermining if that is any consolation. Just saved me from converting my BTC to BTS.. and at least this way I am not subject to the BTC price craziness lately.

I'm just testing the profitability calcs now - todays payout worked out to be 4.285 BTS/MH/Day (0.04640245  BitUSD/MH/Day) (0.00020423  BTC/MH/Day) for Scrypt

What this means if your lucky (or foolish  ) enough to have a 300MH/s TITAN ASIC miner you'll earn 1,285 BTS or 13.92 BitUSD  per day - without bytemasters 5% bonus.

In a few days and you'll be able to directly mine BitUSD - even less volatility.

[BunkerChainLabs-DataSecurityNode]

minebitshares.com as it is, is not an attractive pool to the miners.  It is limited to only two algos - scrypt and X11, and some limited coins.  It does not have a baseline profitability comparison eg to LTC, and estimated earnings per day.  If you want to attract miners, you need to match what the multipools offer.

Profitability comparison is nice I agree. I been mining for a week or so now and I been happy with the payouts. I wasn't doing any better with clevermining if that is any consolation. Just saved me from converting my BTC to BTS.. and at least this way I am not subject to the BTC price craziness lately.

[luckybit]

What if I matched your payout with a 5% bonus?    That would make your pool more profitable than all of the other pools.  This would increase hash power and therefore total buy pressure on bts. 

What would it take to get your daily payout to $2000?

It appears, yet again we've thinking along the same lines.

How about i raise your 5% by having a 0% pool fee and payouts of 10,000USD per day along with 4,000 new BitShares/BitAssets users

I've actually been developing a proposal to present to the community for 'MineBitShares Reloaded' here is the bullet point summary:

MineBitShares re-invents itself as a core marketing asset for BitShares and BitAssets owned by the community
Charge zero fees for the pool thereby making it most profitable/popular multi-pool
The pool pays out only in BitAssets - BitUSD, BitCNY, BitGold, BitSilver (BitBTC if you really want)
East/West geo-located redundant pools with Chinese language support
I donate the pool, pool code,  website, delegates, send nodes etc to the community
We attract the following community team members to develop and maintain the pool by sharing the proceeds from a 100% paid delegate:
       Pool Developers – node.js, javascript, website/front end
       Pool Operators  -  Linux, VPS, DDoS admin, POW coin daemon/research, exchange payouts
Pool costs (VPS’s, DDoS, Website) are covered by a 100% delegate position or affiliate/referral fees

The critical part in all this is getting the team together, as I’ve spent a considerable amount of my limited personal time over the past 6 months in getting the pool to where it’s at today and managing it on a daily basis, and realize, there is no way I could achieve this on my own in a timely manner.

Although I won't get pool fees, I get to see my project's vision realised, help BitShares and my investments succeed and would be one of the pools paid developers/operators.

So your bonus and support will ensure this initiative has every chance of success, but ultimately the community would also need to support it.


Also, I bumped in to the (crypto friendly) owner of BitGild http://www.bitgild.com at a local bitcoin meet last year and realized it would be a win-win-win for the pool to enable BitShares BitGold payouts along with an affiliate relationship with a company like BitGild. I've pitched this idea to him and waiting for a reply back.  Eventually  your bonus and the pool fee delegate could be replaced by affialte fees, maybe not only with BitGold but with exchanges we refer BitCNY, BitUSD payout miners to...

What your thought's on the effectiveness on paying out in BitAssets only?

Note : I've done some research on estimating the 4000 users and 40+BTC. I believe that by removing the pool fee and now your bonus, ensuring minebitshares is the most profitable multi-pool for miners there is no reason why the pool could not attract at least 2,000 users from multipool.us and/or coinking.io and generate 40BTC daily in BitAsset payouts.  It would be very reasonable to assume these 2000 users would at least tell one of their mining buddies about the pool/BitShares/BitAssets etc.

The bonus should only be given if a certain criteria is met. For example if the payout per day passes a certain threshold.

[nethyb]

minebitshares.com as it is, is not an attractive pool to the miners.  It is limited to only two algos - scrypt and X11, and some limited coins.  It does not have a baseline profitability comparison eg to LTC, and estimated earnings per day.  If you want to attract miners, you need to match what the multipools offer.

You make very good points cube, baseline profitability is very important so miners KNOW it's the most profitable pool. I'm working on it and hope to be able to at least list the profitability in a raw format along with the BitUSD relaunch.  i.e. 0.00022 BTC/MH/Day equivalent so it can be listed on multi-pool comparison site such as  http://poolpicker.eu etc.

I've asked for help in developing and managing the pool in this thread.. MineBitShares Reloaded – We’re Hiring https://bitsharestalk.org/index.php?topic=13917.0;topicseen

Drop me a line if you could help.

[xeroc]

Can we please please cannibalize this news already prior to launch?
reddit, bittcointalk, coindesk, ......

[cube]

minebitshares.com as it is, is not an attractive pool to the miners.  It is limited to only two algos - scrypt and X11, and some limited coins.  It does not have a baseline profitability comparison eg to LTC, and estimated earnings per day.  If you want to attract miners, you need to match what the multipools offer.

[BunkerChainLabs-DataSecurityNode]

The code changes to faciliate payouts in BitUSD  is progressing very well, and I'd expect to be able to cutover this coming weekend.

Guys, I would't recommend going out an buying any new hardware to mine bitUSD as it'll take you a long time to recover your costs, when electricity is taken into account.

Off course, if you have already having mining hardware (and/or a free source of electricity) then our pool will be the most profitable multi-pool and will pay out in bitUSD, taking away any crypto volatility risk and providing a yield.

If you want to just try the pool out and see how it works, rent some hashing power at nicehash.com and create an order like the following:

Awesome work! Good to be honest about mining hardware. Now IF IF IIIIIF someone REEEALLY wants to get into it.. don't buy new.. go to ebay and buy used. Tons of people are selling off their hardware now because of the profitability. Another option is mining contracts from a cloud mining offering.. but those are folding left and right now, so don't buy long term into anything. Or you can just rent from others like nethyb said from nicehash.

Looking forward to mining for bitUSD!! 

[nethyb]

The code changes to faciliate payouts in BitUSD  is progressing very well, and I'd expect to be able to cutover this coming weekend.

Guys, I would't recommend going out an buying any new hardware to mine bitUSD as it'll take you a long time to recover your costs, when electricity is taken into account.

Off course, if you have already having mining hardware (and/or a free source of electricity) then our pool will be the most profitable multi-pool and will pay out in bitUSD, taking away any crypto volatility risk and providing a yield.

If you want to just try the pool out and see how it works, rent some hashing power at nicehash.com and create an order like the following:

[proctologic]

MineBitShares BitUSD must be listed on coinwarz.com

 

 

[BunkerChainLabs-DataSecurityNode]

MineBitShares BitUSD must be listed on coinwarz.com

 

[iHashFury]

MineBitShares BitUSD must be listed on coinwarz.com

[mf-tzo]

I'm looking into buying Hashing power for the mining pool. Can I get paid directly in BitUSD now?
Do you have tutorials for complete newbie like me to throw money at this?

Same question from me...

[BunkerChainLabs-DataSecurityNode]

Awesome on the  !