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Question about shares and their relevance to coins
I understand that payment for shares are given once a block as been found/mined, but is there any correlation between the number of shares and how much VTC (in this case) that is awarded?
I'm thinking - is it safe to assume that eventually X amount of shares would accumulate to Y coins, or could there be valid - but wasted - shares? :)
Customer support service by UserEcho
At the beginning of the mining craze pools where mostly using Proportion Payout Schemes where shares directly converted into coins when a block was found. Unfortunately people abused the system by "pool hopping". Payout schemes like PPLNS which we are using were created for this reason. The FAQ explains the system quite well, give it a shot: https://poolmining.org/faq#payments
Alright, so if I understand everything correctly, payouts will be generated "averaged" as long as one stays in the pool? That would also mean every share is valid that gets accepted by the pool, I guess. :)
It's confusing unless the manager of the pool can break down the math of shares which he hasn't and people like me are complaining about the pool share work.
Let me try explain it with an example.
So, let assume the first block is a 100% effort block. That means all our shares are used to compute the reward, like a normal PPS scheme. Now the second block is a 150% effort block, that means that the third with the oldest shares of everyone is "ignored", and the reward computation is made exclusively on the later two thirds.
Get it?
https://github.com/coinfoundry/miningcore/blob/master/src/MiningCore/Payments/PayoutSchemes/PayPerLastNShares.cs#L119
he has released the code before
Several community members and myself provided detailed breakdowns multiple times here on the forum. Including detailed code samples.
This is the third and final reminder to stop spreading FUD.
I have to admit it is confusing. I've read through the FAQ portion on shares a few times, I get the general idea and I like it, but I just don't really understand.
Well we can't all be made to understand everything can we? :) To sum things up, the reward system this pool uses rewards loyal and consistent miners over pool hoppers that jump pools to get the quickest buck for the kilowatt.
By the way, the payout system we are using (PPLNS) is not some exotic invention created by us but is in fact used by the majority of pools out there. Isreali Mathematician Meni Rosenfeld invented it and proposed it here: https://bitcointalk.org/index.php?topic=39832. After which many many pools adopted it.