Choosing a pool


#1

I chose a pool and configured my wallet without doing much research. While my taking-forever-to-finish-plot is plotting, I’ve had some time to read and ponder more. I quickly realized that I should have put more time into this, but I figure better to sort it out now rather than after I start mining (and have accrued a “historical” balance?). So, some questions:

  1. What factors should I consider when choosing a pool? I assume the primary factors are the pool’s costs, historical vs current-block-reward payout split, and possibly website features/usability. Any other factors?
  2. I’d like to better understand why pools often have a historical payout. Is the motivation to provide more consistent/reliable earnings for miners, to provide a lock-in effect so miners have a disincentive to switch pools, a combination, or something else?
  3. Where’s an up-to-date list of pools? I’ve searched before asking, but so many of the resources I found have a last update time of over a year ago, it seemed worth asking before I start mining. Many of the pools I’ve come across are also concerningly unprofessional (pictures of girls in bikinis) suggested they’re being run by a 13 year old.
  4. Any personal recommendations? From my browsing so far, I’m liking https://burst.cryptoguru.org/.
  5. Can I switch an existing wallet (configured to use one pool) to a different pool? On a related note, when I asked for a couple burst to configure my new wallet, I received three – one to set a name, one to configure a pool, and … what was the third one for? Can I use that to reconfigure my wallet for a different pool or do I need to keep a balance of one in order to receive my first pool payout? (I’d also like to fully understand the “new wallet configuration cost” so I can be sure to send enough burst to new miners once I’m on my feet.)
  6. Considering solo-mining: To estimate how long it will take to forget a block solo, is the following formula accurate?

Assumptions: (a) one block every 4 minutes = 360 blocks per day, (b) netdiff is reasonable estimate for total network plot size
Let N = your total plot size in TB
expected blocks before plot contains best deadline = (N / netdiff)
expected days = 360 * (N / netdiff)

So, with a 16TB plot and a netdiff of 200,000, you’d get 0.0288 days, or a little over a month (1.16 months).

  1. How much additional compute power is required for mining solo as opposed to using a pool? My machine isn’t the fastest (1100 nonces/min) and it seems like in addition to checking all my deadlines each block, I’d need to verify that the pending transactions are valid as well as confirm newly forged potential blocks.

Sorry for so many questions! This is what happens when you have nothing else to do while waiting for plotting while the in-laws are visiting :wink:


#2

Excellent post with very valid questions. I’ll do my best to help.

  1. In my opinion, the most important thing for a pool is stability. Overall, unless you are mining with hundreds of terabytes, you will more or less end up with the same amount of Burst (it’s not something to really worry about). But another thing to consider is how pools calculate a miner’s share in rewards for each block the pool finds.

  2. I want to lean towards the reasoning being that payments will be more consistent for people…customer support is the huge time suck for pool owners, and having to deal with tons of people asking where their Burst are all the time is no fun. This is still very common, but I think this tries to relieve some of that.

  3. It has been so long since I looked for a pool, I couldn’t be able to provide you an up to date list.

  4. If you want to be in the most reliable pool (the owners are the actual Burst developers), use this pool. There is also no fee. Why would someone go elsewhere?

  5. You can always change your reward assignment to another pool, or back to yourself for solo mining. You are never stuck with any pool. As for the three Burst, it was just extra because people usually mess up on something. You actually only need ONE Burst to start if you do everything right. Setting a reward assignment to a pool (if you choose the right one), will provide the transaction needed to activate (produce the public key) for your address, and also set your reward assignment.

I haven’t really thought about the additional CPU requirements for running a wallet for solo mining. You can, of course, run a wallet on another machine and use that. I prefer the stability of a pool with someone always making sure the wallet is online :slight_smile:


#3

Thanks, this is very helpful. A couple follow-up questions:

Re #1: How exactly does the pool determine the payouts? I assumed it was based on the deadlines submit by miners, paying out proportionally more of the pot to the miners with better deadlines. Of course there’s always randomness at play, but I’d expect on average payouts would scale linearly with the miner’s plot size. So, why is it the case that “unless you have hundreds of TBs you’ll more or less end up with the same amount of Burst”? Am I correct in my understanding that mining with a 16TB plot will on average payout twice as much as 8TB?

Re #4: I didn’t realize this forum was affiliated with either a pool or the Burst developers themselves – excellent! This settles the question for me, but now I’m left wondering what this pool’s address is. I wasn’t able to find a pinned mining pool setup tutorial or any mention of a getburst.net pool for that matter.


#4

Here is a thread that might help you understand pool payouts better -
https://burstforum.net/topic/4082/help-understanding-mining-pool-payouts

Yes, you assume correctly that 16TB will on average receive twice as much as 8TB.

I forgot to post the pool address, sorry. https://burst.cryptoguru.org/

This forum is a supporter of the PoC Consortium, the current Burst developers, but we do not run our own pool. Perhaps in the future :slight_smile:


#5

@riz @ryanw I mine at cryptoguru.org with 8TB.
Is it normal that i have different deadlines in the Blago Miner (Qbundle) and on the https://50-50-pool.burst.cryptoguru.org Pool site.
On the Pool site it’s much higher.
Are something wrong with my plots or Blago settings?


#6

The first thing that comes to mind is maybe hdd scanning is taking too long? It could be a fast block as well…that the best deadline did not make it in time.


#7

I am plotting on the same disk. Will test if that is the reason. Thought Speed doesn’t effect the deadline.


#8

I am so stupid :confounded: Blago show the deadline in days and pool website in hours.


#9

lol, glad you got it figured out :slight_smile: