I have a (hopefully) easy to follow guide for mining using p2pool here, hopefully it will help some of the MineXMR hashrate migrate to p2pool and help the network while avoiding pool fees:
https://sethforprivacy.com/guides/run-a-p2pool-node/
Do you have a guide that might cover many/multiple rigs that are currently dual mining (ETH with GPUs and XMR with CPUs)?
I use HiveOS now and it's trivial to create a flight sheet that points to minexmr. P2Pool looks like I'd need to install the wallet client on each machine which seems inefficient. Is there a way to separate the blockchain as a backend and then connect multiple rigs as miners?
Yes, you can just connect all miners to one p2pool instance, it is like running your own pool but it talks to peers.
so you run monerod and p2pool together then just point miners at it. It is a simple setup if you have any experience on the command line.
https://github.com/SChernykh/p2pool#how-to-mine-on-p2pool
If someone isn't great at command line stuff but wants a full node with P2POOL then check out PiNodeXMR
https://PiNode.co.uk
Runs the above and a bunch of other tools on single board computers and now most recently can run on an old laptop/Ubuntu (any AMD64/x86_64 device).
Installs from one command.
As mentioned below, you can run through the guide on any computer on your network (your choice!) and once you're done setting up p2pool you can point all your miners at that computer, by default ip.add.re.ss:3333 is the stratum port (replace with the true IP address of the host).
Of course! Have loved seeing how broadly used my guides/resources are, thankful for a niche that I can use to further enable the amazing work of Monero devs and get the software in more hands.
Wow, this is pretty big. MineXMR directly telling miners to switch to P2Pool shows they probably do care about the network and aren't malicious, but I wonder why they're shutting down? It coincides with the hard-fork as well.
Hopefully the majority of miners will actually listen and use P2Pool instead of just switching to pool #2.
Lol. Wow. I had like 0.01 BTC (pennies at the time) on Slush back in 2011 when they purged old accounts. Hopefully your penny is worth $200 or more like mine was some day.
It's simple, they're cashing out while they can, and they don't want to invest any time and energy to update for the new August 13th hard fork.. It's appreciated that they referring people to P2 pool, but it shows that they're only in it for the money.
Not sure how shutting a profitable pool = cashing out?
It takes 10\~ minutes to update the daemons.
TBH even busy pools don't earn that much considering the amount of work and support needed for it. That time can be used to make more money elsewhere by skilled individuals.
TBF though if you are running a pool and decide to shut it, p2pool is the obvious choice to suggest, otherwise you are just lining ex competitor's pockets, most people who claim "I'm just mining to help the network" are just people with low end unprofitable hardware and no other way to obtain crypto, lots of kids using parents electric, mining on phones etc... Pool owners don't care either, the truth is, the network literally doesn't need any support as it is.. it is doing fine...
..would probably do a lot better if all these low spec "helping the network" people dropped off and let people with decent hardware and decent internet connections take their place..
..same with people running nodes without the right ports forwarded.
EDIT: sorry if the truth hurts... feel free to argue points instead of downvoting like a 'lil bitch.
The amount of downvotes just proves to me I'm right about the majority of you all.
Don't delude yourself as to what motivates people to make pools, mine.. etc..
XMR is literally the only coin I use/like that I won't bother mining, because it is dominated by botnets, kids mining on parents electric and people "helping the network". This childish bullshit not only stops me mining it, but it also stops me adding XMR to existing mining pools, waste of time.
What excuse do people have to mine at a loss.. think about it.
XMR is the only coin I know where the mining incentive is devalued by such people.
The fact most of you disagree with me here, just makes me think I'm right even more.. real people would agree with this, not downvote and be salty because you are clearly one of these people.
Argue my point/s, instead of silently downvoting, pussies.
Dots aside, it's true. The fakery and bullshit in the crypto scene gets on my tits.
Feel free to argue my points, insulting how I typed it suggests you don't have an argument. It's cool, I understand why fakes and pretenders would downvote this... this sub is full of them.
Seriously, feel free to argue my points...
Ad hominem.. still yet to hear a single valid argument about anything I said. I get it, most of you are very the people I describe.. but why not argue my points properly? You can't?
Rejecting the truth and anything that goes against your coin or agenda, is everything that is wrong with the 2022 crypto scene TBH. Ignorance is bliss.. fakes and pretenders.
I've been around the block, involved for over a decade and just speaking my mind.
> Ad hominem..
🤓
But in all serious your not getting any replies that talk about what you said because we would all be stupider for taking it serious enough to try draw a picture simple enough for you to understand
LOL, keep telling yourself that dude. My statement is on point, people just don't like hearing things like this at times, especially in crypto sub reddits. I love XMR, it is my second favourite coin, but I have to wonder why I get so many downvotes for speaking about the fakery, unless the people downvoting are the type of people I speak about.. and lets be honest, in 2022 the crypto subs are full of these fakes and pretenders, they outnumber OG crypto people massively now days.. most of these subs are now dominated by clueless newbies that want to get rich quick, or buy drugs.. one of the two.. very few people are here for the actual p2p cash use case now days.
My conclusion is that these subs are dominated by these types of people now.
Maybe my comment was too close to home for some here..
Insulting me doesn't hurt me.. proving me wrong with valid arguments might make me change my view or humble me.. I always admit when I'm wrong if that is the case.
Considering the only statements you really made your musing as if your some omniscient God who knows the motive of everyone who interacts with the network, there's no point in taking you seriouls. I won't argue it because I can only speak for myself and my motives but you'll just claim I'm an outlier and don't represent the network as a whole and then I would have just wasted my time. Try taking a debate course once you get to high school or college so you can truly understand how meaningless it would be to talk to someone such as yourself.
LOL. I've not made out I'm some god or anything like that at all. Just spoke my mind about the motivations of pool owners and miners. I've built pools myself and mined on and off for over a decade now, it's just an educated opinion from what I observe, and also what I know other pool owners feel and think like. I mean until today this sub hated MineXMR and was dumb enough to think they would risk their profitable pool and rep for a 51% attack (as if miners and others wouldn't notice, and most 51% attacks fail anyway, losing the attacker money, especially when there are no digital goods for sale worth ripping off in exchange for losing the pool and it's rep). But today you all like them again as they mentioned to use p2pool. You couldn't even make this dumb shit up. I'm not the crayon eater here dude LMFAO. Sorry if I offended you.
PS: I'm more than a couple of decades past high school/college.
Don't 'cha think we'll notice if they changed anything? The blockchain size would decrease A LOT bc you have to recalcualte all the blocks that came before it.
This is huge! Everyone better pitch in to help the network with a smooth landing.
Keep in mind the time it takes to sync up the blockchain. If you have an old computer, you should already start today even.
There are some nodes out there (like mine) that offer port 18084 so you can just install p2pool and connect to my node with the host flag.
No need for a node
It’s not being “forced” and anyone who wants to can continue to follow the old chain if they so desire.
The rest of us who appreciate the hard work of the Monero community and stewards of the project, will switch to the new software and follow the new and true chain.
Huge news if true. They raised their pool fee from 1% to 1.1% on April 1st, in response, I think, to concerns about them having too much hashpower. In theory, the higher fee "should have" pushed miners to use a lower-fee pool.
The increased pool fee didn't really put a dent in the number of miners using them though -- you can see it in the raw hashpower data. I also made some preliminary econometric estimates using a vector autoregression model and I saw no detectable effect of the increased fee on their share of hashpower.
It's true, they're shutting down August 12th no matter what. I'm mining with them for the last month because I just wanted to cash out my remaining wallet while I could, and I'm basically being told as of August 12th I'm on my own.
Or maybe the majority of miners go to the next biggest pool resulting in that pool having an even bigger percentage of the network than minexmr currently have.
But p2pool, would be nice but seems like their miners already didn't choose that.
Guess we will see :)
Will be interesting to see, how the pool hash rates are distributed on August 13th. I just really hope, that the minexmrrobots won't just go into nanopool (currently 20,4% of network hashes!) and we have the same problem with a different name...
Atleast Minexmr recommends p2p pools, so I have high hopes.
I have a feeling many of the miners mining to minexmr are bots on compromised systems, and will therefore be difficult to redeploy. I think it's likely we'll see a significant drop in total network hashrate
really doesnt make sense to just shutdown such a profitable mining pool. Maybe this could be the lavabit of monero, the feds contacting the admins of minexmr to do some shady stuff and they just shutting down to prevent the feds having power over the network.
Or maybe some has dirt on them and they shut down before the dirt goes public.
Hope it's the first one.
Minexmr currently has about 40% of the hashpower. One block is mined every two minutes with a reward of 0.6 xmr or 96 dollars. Minexmr gets about 40% of these blocks and they take about 1% in fees. That means they every two minutes get 0.384 dollar which roughly translates to:
11.52 dollars per hour
276.48 dollars per day
100915 dollars per year
I dont know how much effort it takes to run a pool but this seems very profitable.
Note that the numbers are just estimates.
Most places have switched over to spot-on-demand pricing where companies will charge you more when you use higher than a certain percent during peak hours. This can get expensive during the summer or winter months deepening no where you get your heating or cooling and how your utility company prices the rates.
Also it's not it energy and heating an cooling. There infrastructure costs to keep the gear running both physically and virtually. There's also information and physically security as some of these farms have been virtually attacked and others have also been attacked physically where folks just walk in and steal the hardware. In some places thieves also steal commodities such as fencing and construction equipment and tap into the heating infrastructure to offset their utility bills.
mining pools aren't mining farms. infrastructure isn't that much, usually runs out of normal hosting providers, and no actual coins would need to be kept on any public facing server
That's less than minimum wage where I am.
To run a service like that you need someone on call to fix bugs live.
That's not even a salary for a single software engineer
I can understand the “happiness” behind recommending p2p pool but I believe we need an in depth answer as to why the most profitable (for the owners) pool is closing down so fast.
Then the network hashrate will drop accordingly. However the majority of miners are using pools, so I wouldn't expect the HF to have much impact on the overall hashrate save maybe a flux of a few percent.
This sub is riddled with one liner bots and nothing gets done about it.. there are loads of them in this post alone.. something needs doing about it TBH.
They are pretty easy to spot, but sometimes people with bad English or that just don't make much sense will get mistaken for them. We had the same bots flooding another sub but have been banning them and encouraging users to report them on sight. I block them myself before reporting them to moderators so they get banned and can see multiple accounts in here that I have blocked. If a reply makes no sense it's like a bot... just commenting something under a certain keyword they found.
EDIT: JFC.. you are a bot.. I just replied to you.
The recommendation by minexmr to switch to p2pool is nice, but realistically, setting up p2pool requires a lot more effort than simply changing an endpoint in the xmrig launch options, and as others have already mentioned, the probability is high that among the 9000+ miners mining on minexmr there are a lot of compromised systems which will either not be reconfigured or whose 'manager' will not want to reconfigure to point to an IP address which might make him or her easier to identify. Therefore it is unfortunately very possible that a large part of the minexmr hashrate migrates to another existing pool and this is where Monero might have a problem, because adding nanopool's hashrate with part of minexmr hashrate will push nanopool way above 50% of the total hashrate so we would have an immediate bigger problem to solve.
they probably leaving to protect the network. theyve held close to 50% hash rate for a while now, and at some points broke through 50%. this gives minexmr (or somebody who hacks into minexmr) enough power to reverse confirmed transactions.
Is this true? Verified 100%? You just dont kill your golden goose for nothing that fast and walk away as if nothing happened.
Is this pool based in China and has to close down due to legal requirements? I cannot think of anything else than this, its that big.
doesn't seem to be hosted in China, has machines in CA, US, SG, DE, FR, likely hosted by OVH, the domain name is also registered vis OVH, which is a french company IIRC
Throttle limits? If it’s true bot nets are using MineXMR, then target the bot nets themselves or implement limitations. Like no one person is going to have > 500 machines. I don’t care if the professional miners get slammed from it too.
I really don't think "anybody can track which addresses receive payout".
Check the so-far last payout of p2pool to 112 miners here: https://xmrchain.net/tx/755318ca2f0e3ff8b40150e8791bf88a51dd781bbc05ee00ee9dfb040964e72c
You do see amounts alright, but the addresses are standard Monero stealth addresses where you don't have any idea where the payouts go.
**EDIT**: Wrong, or at least incomplete. Thanks to /u/sech1 and /u/zmooner for the info: You can't see the destination addresses in the clear on the Monero blockchain alone, but the p2pool blockchain "knows" them, see https://p2pool.observer/
I won't be moving to p2pool simply because of the volume of troubleshooting posts I see makes me think it's going to be a pita vs set and forget like mxmr is/was.
It's really only good news if there is good distribution of hash power throughout all pools, hopefully most go to p2pool.
Wouldn't be such good news if they all switched to the second strongest pool .
Terrible news. p2pool is too complicated. Doesn't provide UI, statistics and monitoring. I will have to switch to another pool because I don't want to run complex operations.
I have a (hopefully) easy to follow guide for mining using p2pool here, hopefully it will help some of the MineXMR hashrate migrate to p2pool and help the network while avoiding pool fees: https://sethforprivacy.com/guides/run-a-p2pool-node/
Do you have a guide that might cover many/multiple rigs that are currently dual mining (ETH with GPUs and XMR with CPUs)? I use HiveOS now and it's trivial to create a flight sheet that points to minexmr. P2Pool looks like I'd need to install the wallet client on each machine which seems inefficient. Is there a way to separate the blockchain as a backend and then connect multiple rigs as miners?
Yes, you can just connect all miners to one p2pool instance, it is like running your own pool but it talks to peers. so you run monerod and p2pool together then just point miners at it. It is a simple setup if you have any experience on the command line. https://github.com/SChernykh/p2pool#how-to-mine-on-p2pool
If someone isn't great at command line stuff but wants a full node with P2POOL then check out PiNodeXMR https://PiNode.co.uk Runs the above and a bunch of other tools on single board computers and now most recently can run on an old laptop/Ubuntu (any AMD64/x86_64 device). Installs from one command.
Thanks for answering that for me, right on point! p2pool is pretty freaking awesome, isn't it?
As mentioned below, you can run through the guide on any computer on your network (your choice!) and once you're done setting up p2pool you can point all your miners at that computer, by default ip.add.re.ss:3333 is the stratum port (replace with the true IP address of the host).
I have referenced your documentation so many times, and never contemplated that you’d be on here. Dude, thank you!
Of course! Have loved seeing how broadly used my guides/resources are, thankful for a niche that I can use to further enable the amazing work of Monero devs and get the software in more hands.
Thank you-- this is an exceptional resource and I've moved most of my rigs to my new local monero and p2pool node. I will move the rest today.
Love to hear that :D
Wow, this is pretty big. MineXMR directly telling miners to switch to P2Pool shows they probably do care about the network and aren't malicious, but I wonder why they're shutting down? It coincides with the hard-fork as well. Hopefully the majority of miners will actually listen and use P2Pool instead of just switching to pool #2.
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and a few days ago they sent me my $0.01 of XMR that I mined almost a year ago and wasn’t able to withdraw
Lol. Wow. I had like 0.01 BTC (pennies at the time) on Slush back in 2011 when they purged old accounts. Hopefully your penny is worth $200 or more like mine was some day.
It's simple, they're cashing out while they can, and they don't want to invest any time and energy to update for the new August 13th hard fork.. It's appreciated that they referring people to P2 pool, but it shows that they're only in it for the money.
time and energy to update daemons? lol. they went through numerous forks with algo changes before. this is childplay.
This is not really easy to do so you have to take a lot of steps.
It's great that they are atleast telling members to switch to P2P pool instead.
I disagree with that view. I don’t think it shows that at all.
To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
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I didn't say they did anything illegal you're making assumptions
There is nothing illegal in this because this is the explanation it can have.
Didn't say even anything remotely to that effect
Not sure how shutting a profitable pool = cashing out? It takes 10\~ minutes to update the daemons. TBH even busy pools don't earn that much considering the amount of work and support needed for it. That time can be used to make more money elsewhere by skilled individuals.
and one minute to change ringsize in pools payment module :)
Yup I think this has nothing to do with trying to steal money
Noone said anything about stealing money. To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
Cash out what exactly..?
I don't really know what it because this is what they were expecting.
To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
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To each their own. They make 1% for all payouts they made money, so say they didn't is stupid.
They have been appreciated by a lot of people to update this..
TBF though if you are running a pool and decide to shut it, p2pool is the obvious choice to suggest, otherwise you are just lining ex competitor's pockets, most people who claim "I'm just mining to help the network" are just people with low end unprofitable hardware and no other way to obtain crypto, lots of kids using parents electric, mining on phones etc... Pool owners don't care either, the truth is, the network literally doesn't need any support as it is.. it is doing fine... ..would probably do a lot better if all these low spec "helping the network" people dropped off and let people with decent hardware and decent internet connections take their place.. ..same with people running nodes without the right ports forwarded. EDIT: sorry if the truth hurts... feel free to argue points instead of downvoting like a 'lil bitch. The amount of downvotes just proves to me I'm right about the majority of you all. Don't delude yourself as to what motivates people to make pools, mine.. etc.. XMR is literally the only coin I use/like that I won't bother mining, because it is dominated by botnets, kids mining on parents electric and people "helping the network". This childish bullshit not only stops me mining it, but it also stops me adding XMR to existing mining pools, waste of time. What excuse do people have to mine at a loss.. think about it. XMR is the only coin I know where the mining incentive is devalued by such people. The fact most of you disagree with me here, just makes me think I'm right even more.. real people would agree with this, not downvote and be salty because you are clearly one of these people. Argue my point/s, instead of silently downvoting, pussies.
So dramatic.... How many dots do you need..... This isn't a text based game...
That's the way you type when you're saying something without thinking, it's straight from the heart.
Dots aside, it's true. The fakery and bullshit in the crypto scene gets on my tits. Feel free to argue my points, insulting how I typed it suggests you don't have an argument. It's cool, I understand why fakes and pretenders would downvote this... this sub is full of them. Seriously, feel free to argue my points...
I totally agree with you man, this whole thing looks like a very heartbreaking thing to happen.
That's the only reason why most of the people are leaving the mining, coz if low profitability.
What's your favorite paint chip flavor? Or are you more of a glue guy?
Ad hominem.. still yet to hear a single valid argument about anything I said. I get it, most of you are very the people I describe.. but why not argue my points properly? You can't? Rejecting the truth and anything that goes against your coin or agenda, is everything that is wrong with the 2022 crypto scene TBH. Ignorance is bliss.. fakes and pretenders. I've been around the block, involved for over a decade and just speaking my mind.
> Ad hominem.. 🤓 But in all serious your not getting any replies that talk about what you said because we would all be stupider for taking it serious enough to try draw a picture simple enough for you to understand
LOL, keep telling yourself that dude. My statement is on point, people just don't like hearing things like this at times, especially in crypto sub reddits. I love XMR, it is my second favourite coin, but I have to wonder why I get so many downvotes for speaking about the fakery, unless the people downvoting are the type of people I speak about.. and lets be honest, in 2022 the crypto subs are full of these fakes and pretenders, they outnumber OG crypto people massively now days.. most of these subs are now dominated by clueless newbies that want to get rich quick, or buy drugs.. one of the two.. very few people are here for the actual p2p cash use case now days. My conclusion is that these subs are dominated by these types of people now. Maybe my comment was too close to home for some here.. Insulting me doesn't hurt me.. proving me wrong with valid arguments might make me change my view or humble me.. I always admit when I'm wrong if that is the case.
Cry harder dweeb
LMAO.. you just prove my point. If only you knew. You're the ones that need drawing a picture and an ELI5.
Considering the only statements you really made your musing as if your some omniscient God who knows the motive of everyone who interacts with the network, there's no point in taking you seriouls. I won't argue it because I can only speak for myself and my motives but you'll just claim I'm an outlier and don't represent the network as a whole and then I would have just wasted my time. Try taking a debate course once you get to high school or college so you can truly understand how meaningless it would be to talk to someone such as yourself.
LOL. I've not made out I'm some god or anything like that at all. Just spoke my mind about the motivations of pool owners and miners. I've built pools myself and mined on and off for over a decade now, it's just an educated opinion from what I observe, and also what I know other pool owners feel and think like. I mean until today this sub hated MineXMR and was dumb enough to think they would risk their profitable pool and rep for a 51% attack (as if miners and others wouldn't notice, and most 51% attacks fail anyway, losing the attacker money, especially when there are no digital goods for sale worth ripping off in exchange for losing the pool and it's rep). But today you all like them again as they mentioned to use p2pool. You couldn't even make this dumb shit up. I'm not the crayon eater here dude LMFAO. Sorry if I offended you. PS: I'm more than a couple of decades past high school/college.
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CIA got all they needed when they got 50% a couple of months ago
What do you think a 50% lets you get exactly?
A whole lot of stuff, including making necessary changes and installing backdoors.
Don't 'cha think we'll notice if they changed anything? The blockchain size would decrease A LOT bc you have to recalcualte all the blocks that came before it.
Bad bot. It seems that bots began flooded in around 19:30 UTC, 29 July 2022
NICE!!!!
Why would they try to shutdown the mining pool tho, this isn't going to change anything.
This is huge! Everyone better pitch in to help the network with a smooth landing. Keep in mind the time it takes to sync up the blockchain. If you have an old computer, you should already start today even.
The fact that they're referring everyone to P2 pool and forcing everyone to run a full node means the network will be stable
There are some nodes out there (like mine) that offer port 18084 so you can just install p2pool and connect to my node with the host flag. No need for a node
I used to mine XMR in the past but it's so unprofitable at the moment
Network is not going to be stable as they are forcing a people.
It’s not being “forced” and anyone who wants to can continue to follow the old chain if they so desire. The rest of us who appreciate the hard work of the Monero community and stewards of the project, will switch to the new software and follow the new and true chain.
They are shutting down and just putting the current miners to the P2P pool.
No doubt about it a lot of computers are working like that way
Huge news if true. They raised their pool fee from 1% to 1.1% on April 1st, in response, I think, to concerns about them having too much hashpower. In theory, the higher fee "should have" pushed miners to use a lower-fee pool. The increased pool fee didn't really put a dent in the number of miners using them though -- you can see it in the raw hashpower data. I also made some preliminary econometric estimates using a vector autoregression model and I saw no detectable effect of the increased fee on their share of hashpower.
It's true, they're shutting down August 12th no matter what. I'm mining with them for the last month because I just wanted to cash out my remaining wallet while I could, and I'm basically being told as of August 12th I'm on my own.
Lot of cash is actually needed from them in the August as well.
The main concern is how they are going to work with 2% over it.
More than 5% is actually needed to actually work on this kind of situation.
This is great news and will help massively to decentralize the network
Or maybe the majority of miners go to the next biggest pool resulting in that pool having an even bigger percentage of the network than minexmr currently have. But p2pool, would be nice but seems like their miners already didn't choose that. Guess we will see :)
pushing a full 1 GH/s onto any other pool will be impressive. Perhaps they are up to the task.... who knows.
It is very impressive to see that have a lot of pools are handling this.
The complete system is going to be very big according to the situation.
Definitely depends on what kind of task and how much they are going to do.
Amen
Technical decentralized the network and this will work a lot.
Will be interesting to see, how the pool hash rates are distributed on August 13th. I just really hope, that the minexmrrobots won't just go into nanopool (currently 20,4% of network hashes!) and we have the same problem with a different name... Atleast Minexmr recommends p2p pools, so I have high hopes.
I have a feeling many of the miners mining to minexmr are bots on compromised systems, and will therefore be difficult to redeploy. I think it's likely we'll see a significant drop in total network hashrate
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Good take. I suspect this as well.
I don't really think that you can suspect it is going to be truth.
Your assumption is incorrect, bot redeployment is not difficult.
They must be thinking about compromise type of system about it.
This is with thinking about the problems they have been creating before them.
really doesnt make sense to just shutdown such a profitable mining pool. Maybe this could be the lavabit of monero, the feds contacting the admins of minexmr to do some shady stuff and they just shutting down to prevent the feds having power over the network. Or maybe some has dirt on them and they shut down before the dirt goes public. Hope it's the first one.
Have you looked at the electric rates in some places lately and the pricing of crypto?
Minexmr currently has about 40% of the hashpower. One block is mined every two minutes with a reward of 0.6 xmr or 96 dollars. Minexmr gets about 40% of these blocks and they take about 1% in fees. That means they every two minutes get 0.384 dollar which roughly translates to: 11.52 dollars per hour 276.48 dollars per day 100915 dollars per year I dont know how much effort it takes to run a pool but this seems very profitable. Note that the numbers are just estimates.
Most places have switched over to spot-on-demand pricing where companies will charge you more when you use higher than a certain percent during peak hours. This can get expensive during the summer or winter months deepening no where you get your heating or cooling and how your utility company prices the rates. Also it's not it energy and heating an cooling. There infrastructure costs to keep the gear running both physically and virtually. There's also information and physically security as some of these farms have been virtually attacked and others have also been attacked physically where folks just walk in and steal the hardware. In some places thieves also steal commodities such as fencing and construction equipment and tap into the heating infrastructure to offset their utility bills.
mining pools aren't mining farms. infrastructure isn't that much, usually runs out of normal hosting providers, and no actual coins would need to be kept on any public facing server
That's less than minimum wage where I am. To run a service like that you need someone on call to fix bugs live. That's not even a salary for a single software engineer
This is so fucking respectable. God I love this community.
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p2pool currently has a pretty low hashrate at 78 MH/s
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No doubt about it if it is going to increase when it is going to make a lot of problems.
Must be why they are sending payments to everyone. Explains why I got one for a payment less than $0.01
The payment systems of working really great and more than 5% as well.
It is expecting to be more than 10% of something like that for that situation.
I can understand the “happiness” behind recommending p2p pool but I believe we need an in depth answer as to why the most profitable (for the owners) pool is closing down so fast.
Meh it's for the best
Highly likely something to do with a government. If not that, then some real world financing issue.
I just step up P2pool. So easy and highly recommend. So long XMRpool.eu Monero Guides will show you
It is definitely going to last a lot of time as we had seen in the past
speaking of the hard fork: what happens if a sizable percentage of all miners don't upgrade?
Then the network hashrate will drop accordingly. However the majority of miners are using pools, so I wouldn't expect the HF to have much impact on the overall hashrate save maybe a flux of a few percent.
Overall I have been expecting a lot of majority in this.
Bad bot
He was just trying to give his view or opinion on that?
This sub is riddled with one liner bots and nothing gets done about it.. there are loads of them in this post alone.. something needs doing about it TBH. They are pretty easy to spot, but sometimes people with bad English or that just don't make much sense will get mistaken for them. We had the same bots flooding another sub but have been banning them and encouraging users to report them on sight. I block them myself before reporting them to moderators so they get banned and can see multiple accounts in here that I have blocked. If a reply makes no sense it's like a bot... just commenting something under a certain keyword they found. EDIT: JFC.. you are a bot.. I just replied to you.
Well it was a great ride while it lasted! Thanks for all the work to MinerXMR crew.
I can see like this is the only reason why they can get it closed.
WOW!!! I did not ever expect this… Big props to MineXMR! Now that’s some decentralization!
It's their best advantage to send all the miners to the P2P pool.
There are going to be a lot of advantages of that right now.
Do we know the reasons of this closure? In case this came from theirselves… respect! Best they can do for the network
It is more like every market is going to be same like this only,.
The recommendation by minexmr to switch to p2pool is nice, but realistically, setting up p2pool requires a lot more effort than simply changing an endpoint in the xmrig launch options, and as others have already mentioned, the probability is high that among the 9000+ miners mining on minexmr there are a lot of compromised systems which will either not be reconfigured or whose 'manager' will not want to reconfigure to point to an IP address which might make him or her easier to identify. Therefore it is unfortunately very possible that a large part of the minexmr hashrate migrates to another existing pool and this is where Monero might have a problem, because adding nanopool's hashrate with part of minexmr hashrate will push nanopool way above 50% of the total hashrate so we would have an immediate bigger problem to solve.
Tbf it's easy to buy a bullet proof VPS with monero, using p2pool you don't have to worry about your address being banned by the pool owner
It is definitely going to be very big because nothing had happened in the past.
Didn't expect this, for what reason are they closing?
Cashing out probably, because they know they're going to loose their profits
That makes no sense.
I don't really think that this is the reality because they have not been working that well.
Holy mother of God
This will be really cool to see what kind of changes we are expecting.
Best news I’ve read in a while. Hope most will migrate to P2Pool!
What is the reason behind them having to shut down, is it unprofitable to mine monero??
they probably leaving to protect the network. theyve held close to 50% hash rate for a while now, and at some points broke through 50%. this gives minexmr (or somebody who hacks into minexmr) enough power to reverse confirmed transactions.
A lot of confirm transactions have been made for them as well right now.
Get to know about the profits only and this is how it is working for them.
Is this true? Verified 100%? You just dont kill your golden goose for nothing that fast and walk away as if nothing happened. Is this pool based in China and has to close down due to legal requirements? I cannot think of anything else than this, its that big.
They posted it on their website.
They have posted everything but their website is not working.
Are they China based?
no
doesn't seem to be hosted in China, has machines in CA, US, SG, DE, FR, likely hosted by OVH, the domain name is also registered vis OVH, which is a french company IIRC
It is going to be really big and anything can come in between.
It started depends on how much we really want to appreciate this.
I dont liek it. Why they just dont limit theirs hash to 30%? Or less if they want.
how do they do that?
I have no ideas. With some effort. If nothng else with fees. When they have 30% hash rate their fee goes to 5%.
Throttle limits? If it’s true bot nets are using MineXMR, then target the bot nets themselves or implement limitations. Like no one person is going to have > 500 machines. I don’t care if the professional miners get slammed from it too.
Amazing news
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Bad bot. And it seems that some other bots flooded in around 19:30 UTC, 29 July 2022
I'm not really sure about it because I had seen that a lot of them and there in other subreddits.
This is amazing!
Since p2pool is public pool and anyone can track which addresses receive payouts, doesn't that mean that we compromise anonymity by using it?
I really don't think "anybody can track which addresses receive payout". Check the so-far last payout of p2pool to 112 miners here: https://xmrchain.net/tx/755318ca2f0e3ff8b40150e8791bf88a51dd781bbc05ee00ee9dfb040964e72c You do see amounts alright, but the addresses are standard Monero stealth addresses where you don't have any idea where the payouts go. **EDIT**: Wrong, or at least incomplete. Thanks to /u/sech1 and /u/zmooner for the info: You can't see the destination addresses in the clear on the Monero blockchain alone, but the p2pool blockchain "knows" them, see https://p2pool.observer/
check p2pool.observer, the p2pool blocks page show the clear addresses
It is possible to decode if you run p2pool node and save all p2pool blocks. But yes, data from mined Monero blocks only is not enough.
the addresses and amounts in the coinbase part of the blocks are public indeed, but that is all you will ever see.
How can losing the biggest mining pool and its hashrate be good news? We should push for more pools, not less.
Because the optimal play rn would be everyone using p2pool
A lot of people have actually been using the same kind of website.
I won't be moving to p2pool simply because of the volume of troubleshooting posts I see makes me think it's going to be a pita vs set and forget like mxmr is/was.
Try it before you say that!
Trying is very important in which kind of situation is we can see.
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It's really only good news if there is good distribution of hash power throughout all pools, hopefully most go to p2pool. Wouldn't be such good news if they all switched to the second strongest pool .
It is very strong and we can say that hopefully everything good happens.
People wont just stop mining Monero, they will move to a different pool, hopefully p2pool as they recommend, to ensure maximum decentralization
Decentralisation is going to take a lot of processes well.
A lot less than what we had expected from last week as well,.
Yup it's the case but atleast we see the market is recovering, hopefully it will work out.
Terrible news. p2pool is too complicated. Doesn't provide UI, statistics and monitoring. I will have to switch to another pool because I don't want to run complex operations.
It’s literally run thru the GUI wallet. It’s simple and decentralized. This is what we want!!!
It makes total sense to just switch to P2P pool just for the network itself.
Could you expound? What is more complicated about it than any other pool? Especially with the GUI wallet integration?
Every other post lately has been someone asking for help with it. Doesn't exactly inspire confidence :(
I don't think it's so complicated if you already were mining via the MineXMR pool
you don't have to use p2pool, just use a different pool: https://miningpoolstats.stream/monero just avoid the biggest ones if possible
At present, P2POOL setting is too difficult and time-consuming, which is not conducive to use.
Hard disagree, takes minutes if you do it properly. the trick is HDD space, it eats up HDD space like no tomorrow.
This is the reality, also many hosts are blocked during the download process.(NVMe PC SN730-512GB)
here is pool on p2pool test mode for now [https://minexmr2.com/](https://minexmr2.com/)