Frequently Asked Questions
A: When the pool finds a block, new coins are generated and sent to the pool as a reward. The reward remains in a pending state until it has reached 100 confirmations (which typically takes 4 hours to complete). After the 100 confirmations, the pool starts the process of paying the miners for their shares. If the miner has a balance of 0.1 Zen / 1.0 Snowgem or higher, they are paid in full. If the account balance is less than 0.1 Zen / 1.0 Snowgem, the balance remains on the server until the miner reaches this threshold, then are paid in full. Most miners will typically see some form of payment usually within a couple of days.
Q: Why should I join this pool? The block discovery rate is slower than the other larger pools out there.
A: A great question! The act of "mining" essentially supports the coin itself. Transactions are arranged into blocks, and it's the miners' job to discover these blocks. Miners are paid a block reward as an incentive to search for blocks. Originally, it was thought that everyone would participate/mine individually. By everyone participating individually, the coin is protected against fraud due to a built in voting mechanism where one miner would have to have the majority of the hashpower of the network in order to outvote and create fraudulent transactions, etc. Unfortunately, there are pools of miners now comprising of 1/3 or more of all network hashpower, putting the integrity of the coin at risk. "Decentralized" mining is highly desired as it safeguards against potential fraud. In summary, choosing to mine with a smaller pool levels the playing field and supports the health of the coin.
Q: Yeah, but won't I get paid more with a pool that finds blocks faster?
A: Believe it or not, no, and here's why. A pool with a large number of miners finds blocks faster. When the blocks are found, the miners are paid for their shares, but each miner makes up a very small portion of the overall shares and subsequentlly only gets paid a small amount. With a smaller pool, blocks are discovered less frequently, but the payouts are larger since each miner has more shares towards that block percentage wise than if they were with a larger pool. Payouts are much larger as a result. You either get paid a little frequently, or a lot infrequently. After a couple of weeks, you end up with virtually the same amount of profit whether you mine with a large or small pool!
Q: If I have more than one computer mining, is it possible to have both systems mine with the same wallet address?
A: Yes! With most mining software, you simply add a dot "." to the end of the wallet address, then a nickname of your choosing on each system to track them seperately. That's all there is to it!
Q: I've been mining on this pool for a little while now and I don't think I'm earning what I should, why?
A: Being a smaller pool, blocks are discovered less frequently. If you happen to join during a stretch of bad luck, it will defintely look like you're not earning what you'd expect. However, due to the magical and mysterious forces of math, you will absolutely end up earning more after a short while as the next block or perhaps the one after that will be found sooner than it should have. When this happens, you do better than you normally would elsewhere, but in the end, it just balances out the times where you weren't as lucky. After a couple of weeks of mining, you can add up your rewards and divide by the days you spent mining and you'll see that the average is where it needs to be. You just need to hang in there and keep mining. The luck does and WILL turn (for good and bad!).
Q: What is PROP?
A: PROP stands for "Proportional", and is a payment system type that awards miners for their mining efforts towards finding a block. In a PROP based system, miners' shares are divided by the total number of shares accumulated by the pool between block discovery, and are paid according to their percentage of effort towards finding that next block. For example, if a total of 100 shares were accumulated by the pool by the next block discovery, a miner with 5 shares would receive 5% of the block reward. When a block is discovered, everyone is paid out (after the necessary confirmations), and everyone's shares are reset back to zero for the next round.
PROP systems are great for miners who only mine occasionally, but want to be paid equally for their efforts. They're also great for larger miners that would like to be able to better predict their earnings. Traditionally, the main downside of PROP based systems is that they don't punish "pool hopping", since everyone is paid for their shares equally, regardless of when they were accumulated between block discovery. Fortunately, pool hopping isn't as big of an issue for a pool that is discovering blocks on a fairly regular basis. The simplicity and predictability PROP offers ends up being a better choice for some pools as a result.
Q: What is the difference between "Immature" and "Balance" on the workers page?
A: When the pool finds a block and calculates what to pay the miners, the amount owed is sent to everyone's immature balance while the block reward is being confirmed. Once the block reward reaches 100 confirmations on the blockchain (usually this takes about 4 hours), the immature balance is added to the regular balance. If the total balance owed is greater than or equal to 0.1 Zen / 1.0 Snowgem, the entire balance is then paid to the wallet address (usually within 1 hour). Balances that are below 0.1 Zen / 1.0 Snowgem remain on the server until the miner accumulates enough zen to reach the 0.1 threshold. Unfortunately, we cannot send payments on balances less than 0.1 Zen / 1.0 Snowgem due to transaction costs and overhead.
Q: What happens if I stop mining before a block is discovered?
A: All shares accumulated towards the next block are paid out fairly and equally when the next block is discovered by the pool. There's NO penalty for coming and going, other than not getting more shares for more work! This ends up being great for those of you who mine with your main PC or want to have the flexibility to mine other coins without being punished for it. Check out "What is PROP?" above for more information about how miners are rewarded for their work.
Q: Why is my hashrate reporting one number on the website, and a different number on my miner?
A: The pool/website doesn't actually know what the client hashrate is, so the number being reported on the website is actually a best guess based on the rate of submitted shares. When you first join the pool, the number of data points to calculate this with is minimal, so the numbers can appear a bit off. Over time, the hashrate average should become very close to what the miner software is reporting. If there's a large discrepancy after hours of mining, there's a good chance there may be an efficiency problem.
Q: What is efficiency?
A: Efficiency is a representation of the work performed by the miner, and the recognition of that work by the server. For example, if your miner is reporting a hashrate of 10KSol/s and you have 50% efficiency, you would only be getting paid for 5KSol/s worth of work in the end. One of the largest contributors to efficiency issues is network related issues. If your system cannot deliver it's proof of work to the server, the work performed becomes worthless. The name of the game is to keep the efficiency as high as possbile. Occasional dips below 100% are normal and nothing to be worried about, but sustained numbers below 100% usually mean there's something worth investigating to make sure you're maximizing your investment.
MORE FAQ'S COMING SOON!