>> (p.1)
    Author Topic: Why all miners need to mine on a pool that pays them the tx fees.  (Read 36521 times)
    philipma1957 (OP)
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    December 23, 2017, 12:23:48 AM
    Last edit: March 12, 2020, 12:10:53 AM by frodocooper
    Merited by frodocooper (7), ABCbits (3), vapourminer (2), Synchronice (2), o_e_l_e_o (1), Steamtyme (1), bill gator (1), MrCrank (1), favebook (1)
     #1

    I was doing some math so here goes.

    Tx fees are nuts 600 sats are  not high enough.

    Block fees are 5 or 6 even 8 and 9 btc.

    Simple math is a block can have about 1000000 in room and the smallest transaction is 250
    That is 4000 transaction as a max.  Close estimate.

    So. Big pools make 20% of the blocks and do not pay tx fees to miners they keep the fees.

    So 20% of 144 is 29 blocks say that is 200 coins.

    If they. Do 100000. Sends of 0.001 and pay 0.001. They are doing 1/3 of the networks capablity for  that day.

    so 100,000  x 0.002 = 200

    but ½ is fees and ½ comes back to them

    so each day  they make 100 coins in fees  and they ensure the network stays clogged up.

    Instead of losing money  doing 100,000  x  0.001  in tx fees  they make a profit.

    So if you mine at antpool, btc.com, viabtc.com  or rent to nicehash  and don't do any sends the big pools can simply clog the network and make money doing it.

    My math is solid  As I use one 20% pool  and we know there are more then one 20% pool.

    Based on this I now mine at mmpool.org  as they pay the tx fees to the block hitter.

    This is not speculation this is math founded in fact.

    https://btc.com/

                24 Hours Change   3 Days Lucky

    1    BTC.com---------2506.00  PH/s
    2    AntPool----------2417.21  PH/s
    3    BTC.TOP---------2111.00  PH/s
    4    SlushPool--------1537.66  PH/s
    5    ViaBTC-----------1522.87  PH/s
    6    F2Pool-----------1112.35  PH/s

    so if the top 3 do what I say

    there is a big time issue for all of us.

    https://btc.com/stats/diff

    13400 ph is the current hashrate.

    Antpool and btc.com are the same company  that is 4900 of 13400

    or 36.56%

    lets break it down again using top 2 pools

    36.56 x 144 daily blocks = 52.6 blocks a day  with fees of  7 coins  = 368.2 coins

    150,000  sends of 0.001 + 0.001 tx fee = 300 coins  since  you are doing sends of 0.001  you get ½ back or 150 coins  and you spend 150 coins.

    Since you collect 368 coins   you  net  218 coins for your 52.6 blocks which is a sweet 4.14 coins in fees.

    since the max transactions in a day is  only 4000 x 144 = 560,000   and that is based on  227kb sends    which are only some.

    we do around

    https://blockchain.info/stats

    370,000 transactions a day.

    if antpool and btc.com  are taking 150,000 a day  in the way I say  the other transaction will be costly.

    Lets make this more clear.

    top 3 pools  get in on this

    this comes to 700013400 hash =  52.2 %

    lets say they do  220,000  sends of 0.001 + 0.001 tx fee

    they would be taking 220,000 of 370,000 sends   which is 59.4%  of the sends

    since 52.2% x 144 = 75.168 block  with fees of 7 coins  it is 526 coins in fees  collected  by the 3 of them combined

    since 220,000 x 0.001 = 220 coins  paid  they gain  306 coins  by doing this as a team of 3 pools

    this is not block with holding  it is fee manipulation  .

    My math is dead solid  factual  no speculation here.

    To combat this  all miners need to mine on fee sharing pools.  and stop mining on pools that keep fees.

    The math above shows the top 3 pools  will not stop doing this  since it makes them a shit ton of extra money.

    So all you big guys  leave those pools . Mine on pools that share the fees.

    check these charts

    the math shows  this to be the reason.


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