[Pool] Weipool Update

WeipoolWeipool Member Posts: 3
edited October 2015 in Mining
Hello Miners, We here at weipool would like to issue a friendly reminder that we currently charge no fees to miners. We have also upgraded to dedicated hardware and are currently configuring our systems to be fully redundant. We will be giving out 20 eth to a randomly selected miner who is active between 10/19 and 10/21. Check us out: weipool.org

We will be posting updates as we add more features.

Comments

  • ordoeordoe tehranMember Posts: 132 ✭✭
    Great pool, lucky today :-)
  • farwarefarware Member Posts: 116
    edited October 2015
    Seems like a decent pool!

    Reveal more about your identity please. Where are you located? Since your domain is whois protected + Cloudflare we need more details


    Post edited by farware on
  • farwarefarware Member Posts: 116
    Please post more details about your hardware specs, server location and any contact details you feel comfortable disclosing. Who are you and how did you first hear about Ethereum? What qualifies you to run a pool?

    Sorry for all the questions, but I read on reddit that OneEther was an exit scam so I want to protect myself and other miners.
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    edited October 2015
    @farware Just solo mine it's better for you and better for helping to decentralize the network. Now that I've got my own solo node up and working, I'm mining more compared to when I was pool mining.

    That's not to take away anything from weipool.org. I don't know much about them, but I also have not heard of any issues with them. However, more transparency is always better, especially after what happened with the OneEther.com scam.
  • farwarefarware Member Posts: 116
    I disagree, I used to mine 3 blocks per day with a hash rate of 210 MHs .. then I merged 2 machines into one large rig and since then I find 1 block per day. It's really annoying to run a node because of the constant problems. In the long run a pool is more stable.

    Right now some larger players have entered so you are competing with 200 against 2GH? Not gonna work. By joining a small pool you can leverage your lower hashrate and be the largest miner in a pool and generate more than you should.
  • farwarefarware Member Posts: 116
    By joining a smaller pool you can help to decentralize the mining too, because if we have a thousand smaller pools thats still better than just a few nodes that take all
  • WeipoolWeipool Member Posts: 3
    Hi farware, I understand the concern. Weipool and the code base have been operating since around the time Nanopool was released. We have been consistently paying out the entire time we have been in operation(we have not had the same hash rate as larger pools which is why our block total is still so low.). We have already updated to 1.2.2 and have updated the front end to reflect that. We are working on forming an LLC which when it comes out will reveal my personal information. I am willing to say right now that I personally am based out of the Research Triangle Park area in North Carolina (USA). We have one VPS in California for load balancing and extra DDOS protection. Our main server is on the east coast and has 2xIntel Quad cores, 16GB RAM, and a 2TB HDD. I first heard about Ethereum in 2014 at Cryptolina. I would argue that once we become an LLC with a direct tie to my personal information that would provide a significant incentive for Weipool to continue operating fairly. We should be able to release the LLC info within the next week.
  • farwarefarware Member Posts: 116
    Thank you for all the information, sounds good. I will contribute to your pool for a week and see how it goes, so far we've been unlucky today but who knows maybe tomorrow will be our day!

    Great to hear you are incorporating, sounds like a good idea, although it can be expensive to incorporate (at least in Europe it is).

    Anyway lets mine!
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    farware said:

    I disagree, I used to mine 3 blocks per day with a hash rate of 210 MHs .. then I merged 2 machines into one large rig and since then I find 1 block per day. It's really annoying to run a node because of the constant problems. In the long run a pool is more stable.

    Right now some larger players have entered so you are competing with 200 against 2GH? Not gonna work. By joining a small pool you can leverage your lower hashrate and be the largest miner in a pool and generate more than you should.

    @farware If you say so -- just make sure not to tell my wallet and node that, because they would disagree. :smile:

    Like I said, my average daily block rate when solo mining is right inline or better than when I was pool mining. My geth node has been running without issue for 6d 16h 36m 20s and I mined 8 blocks yesterday (slightly above average) with ~420 MH/s.
  • farwarefarware Member Posts: 116
    I think from a mathematical standpoint it would be best to have rigs split evenly: 50% solo mine and 50% pool, then you can smooth out some of the edges but that obviously depends on hash rate.

    For another 200MH/s to get to where you're at I'd have to shell out 1200€ approx on cards.

    Looks like you went back to pool mining too?
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    farware said:

    I think from a mathematical standpoint it would be best to have rigs split evenly: 50% solo mine and 50% pool, then you can smooth out some of the edges but that obviously depends on hash rate.

    For another 200MH/s to get to where you're at I'd have to shell out 1200€ approx on cards.

    Looks like you went back to pool mining too?

    I do agree that having a higher hashrate seems to help. But, I've seen a lot of reports from people with much lower hashrates than either of us, claiming that they are mining inline with what online calculators estimate.

    Yeah, at this point you would probably be better of just buying Eth directly. Unless, you plan to reuse the cards for other mining after you are done with Eth. Or, you can always sell them used when you're done to recoup costs.

    I have not gone back to pool mining -- I've been mining off my own geth node for about 7 days now with very good success.
  • farwarefarware Member Posts: 116
    Can you give us an update on the pool? Why every night at 4:30 in the night your geth goes down?

    If this happens again, I won't be back, sorry, last chance next day.

    Please add updates to the site so we at least know whats going on, DDOS or misconfiguration?
  • WeipoolWeipool Member Posts: 3
    Hello, we will add an updates page to our site. The problem was due to a problem when the back ends were restarted. We should not experience issues of this sort on a regular basis from now on.
  • farwarefarware Member Posts: 116
    Weipool said:

    Hello, we will add an updates page to our site. The problem was due to a problem when the back ends were restarted. We should not experience issues of this sort on a regular basis from now on.

    Thanks for the update
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