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

[nethyb]

UPDATE:

As the market goes wild for BitSharesX I’m feeling the pressure to enable miners to take advantage of cheap ’BTSX’ before the whole world is talking about it 

I’m now prioritising on making the ‘core’ multi-pool functionality available as soon as possible i.e. Simply pointing your rigs at the X11 and Scrypt stratums and getting regular payouts in BTSX.

I’ll then focus on visual and usability improvements on the pool website design, reporting and statistics that will deliver a more polished look to help with attracting a new BitShares audience.

Progress over the past few weeks:

• Implemented and tested X11 and Scrypt Multi-Pool mining with auto profit switching to most profitable coins
• Load tested with 500MH of scrypt and 4000MH of X11 hashing mining power
• Significant DDOS Filtering & Protection (It’s a given the pool will be targeted for DDOS)
• Implemented and tested auto exchanging of mined coins
• Implemented being able to simply provided a BTSX address instead of needing to create/register an account to mine
• Basic mining statistics are functional

Most of the recent effort has been in modifying the standard pool code to support and integrate the bitsharesx client to support auto-payouts of BTSX and there is still significant effort required to complete this and have it fully tested.

But as soon I’m comfortable that BTSX payments and reporting are robust, I’ll open the pool up for beta testing, probably a couple of weeks still.

Thanks to those that have voted for the minebitshares-com delegates - we’ve made it to the top 101 (thanks to BM really) and have been reliably producing blocks but we’re close top the bottom in terms of votes and could get knocked out at any time - if you have’t done so, please vote for the delegates to show your support.

[nethyb]

I'm voting for you the next time I move funds

   and thanks...

[bytemaster]

I'm voting for you the next time I move funds

[ssjpts]

good idea!

[nethyb]

Progress is OK, we're now at the stage of working on setting up auto payouts in BTSX.

All going well, we'd like to open it up to the community for beta testing, probably week after next.

We'll start with scrypt and x11 algos, and potentially expand to sha256 later.

As to fee's, we'll be looking to cover costs and effort in management of coin selection to maximise pool profitability. Most multi-pools operate at between 2% and 4% so we'll probably start of at 3% and see how we're doing.

If we can get our delegates in the top 101 and producing blocks then that'll help with costs and maximise BTSX payouts for the miners, or even give us the ability to offer bonus payouts etc...

I'm really hoping that the pool will help to bring a new audience and associated demand to BitShares and so increase the overall value of our BTSX investments.

Time will tell though, and in some ways, hopefully the pools contribution to BTSX value will be insignificant compared to the upcoming marketing initiatives that I have a sense are being worked on and the new DACS that are soon to be released.

While your waiting for the pool to be beta ready, best thing you can is to up-vote the minebitshares.com delegates and ask other to do the same.. 

[liondani]

 

1. any details about fees?
2. which coins will you support?

[crazybit]

cool

[jonte]

Any news...


BTSX: jonte

[CLains]

Excellent initiative! 

[Shentist]

would be good to give some interested miners a chance to transfer the energy bill in btsx without buying bts. hope you get it running.

[lzr1900]

very cool

[cass]

great initiative

[th4o]

Great! I would love to see a cryptonote multipool with btsx payout

[oco101]

I remember that discussion that Luckybit started, I thought it was brilliant idea. Good luck guys  hope this is gonna work. I like the the idea of mining BitGOLD very much.
 Exciting times.

[luckybit]

MineBitShares.com - A virtual mining multi-pool for BitSharesX
Making the unminable, mineable! - Coming Soon

I'm initiating a delegate campaign to support MineBitShares.com.

MineBitShares.com is a mining pool which will direct the miners hashing power to mine the most profitable traditional POW based crypto currencies that is automatically exchanged for BTSX and paid daily to miners.

It’s likely the pool will help attract and retain new members of the crypto community to BitShares, and by automatically selling other crypto currencies to buy BitSharesX, it’ should also have a positive effect on the price.

When the BitSharesX asset exchange is launched we could even enable miners to mine gold - or at least the value in BitGOLD! Imagine the possibilities!

luckybit kicked off a great discussion and poll earlier in the year -  “If a multipool were set up today to directly mine for BTS as payout how would you react?” and it looked liked two thirds of those polled we’re interested.  http://bitsharestalk.org/index.php?topic=3587.0

The pool is currently being setup and hosted by a UK based crypto services provider, at which point we can start the development customizations to facilitate payouts in BTSX. In all likelihood, I expect it’ll take at least a month for us to be production ready, but I’ll keep the thread updated for those interested in helping us test it etc.

Currently http://www.minebitshares.com points to a landing page and delegate campaign site.

As I’m not (yet) a know member of the BitShares community, I’d also like to invite a well known, trusted member of the community to join the campaign - you don’t have to be technical, but it would useful if you could commit to regular auditing of the pool operation and payouts once we get going. Reach out in the thread or PM if you think this will suit you.

Initial Delegates:

Code: [Select]

wallet_approve_delegate www.minebitshares-com
wallet_approve_delegate www2.minebitshares-com
Approve www.minebitshares-com
Approve www2.minebitshares-com

Seed Nodes:
euseednode.minebitshares.com  (Ireland)
auseednode.minebitshares.com (Sydney)


Who is nethyb? I’ve been a passive BitShares evangelist, PTS miner and investor in BitShares since Dec 2013.
Mining PTS (remember when is was 0.02BTC ) was how I initially became aware of BitShares and soon realised it wasn’t just another coin - leading me to become a regular AGS investor. I’m an IT professional of 20 years based in Australia.

Here is a signed message from one of my BTC AGS donation addresses (1AgXeiurCHScStPbK8QaTr79icGLKbeFxS)
MineBitShares.com - A virtual mining multi-pool for BitSharesX
G9B8ehbdJoG589x4fQcLoXPFvwLPwHKV1I2lBpTsHVsB/SjrqBIt4LKTQVR0Ee5d3DHOaYNjKe5YHpuNogBIU5c=

 

And with this announcement we have entered into a competition with the Blackcoin community which they cannot win. I tried to get them on board because it would have been mutually beneficial but they prefer competition.

Let me know in what ways I can help this operation. I of course support.