Frequently Asked Questions

Mining Instructions

How do I start mining on this pool?
  1. If you are mining with a GPU, download and install a suitable miner. If you are using an FPGA, it will generally have its own mining software.
  2. Configure your mining software to point to mvis.ca:8080. Port 8080 is set up for the RPC protocol, which is compatible with most 0xBTC mining software.

  3. Start your miner, wait a few minutes until it has sent in a few shares, and then visit http://mvis.ca/miners.html and verify that your miner has been recognized by the mining pool. Use the Miner Account search box at the top-right to access your mining details page. Verify that the mining pool is receiving your submitted shares.
  4. If gas prices happen to be very high when you start mining, or at any other time, you will see an error messages saying "Mining operations suspended due to high gas prices. Please try again later." One way to deal with this is to just leave your miner running. It will keep trying to connect with the pool, and will eventually succeed when gas prices come down. (They tend to cycle up and down at certain times of the day.) Your mining software will likely go to idle and let you save electricity while it is waiting.
Can I mine to an exchange wallet, like Hotbit or Coinbase, for example?

No. You need to use an external, non-exchange, wallet. MetaMask is a very good choice, although there are other options as well. The main reason you can't use an exchange wallet is because of the way this mining pool handles deposits. When the pool sees an incoming ETH deposit, it looks at the "Sender" address to determine which miner sent the deposit. The problem with exchange wallets is that when you send ETH, the funds don't actually originate from your wallet. Instead, they come from one of the exchange's "hot-wallets". As a result, the mining pool will not know which miner sent the deposit.

The solution is to set up an ETH address in an external wallet, like MetaMask. You would then do a 2-step transfer: first send ETH funds from the exchange into your MetaMask wallet address, and then transfer the ETH from MetaMask into the pool.

How will I receive payouts?

By default, payouts will be sent out on the Ethereum Mainnet as a regular ERC20 token transfer. Alternatively, you can receive your payouts on the Polygon Network (formerly Matic). The advantage to having payouts on the Matic network is that they are basically free. The disadvantage is that withdrawing your tokens from Matic to Ethereum Mainnet is fairly expensive (about 3x the cost of an ERC20 transfer). You can set your payout preference on your Miner Profile Page.

If you choose to have your payouts on the Matic network, you can use the official block explorer to view your payouts, or better yet, configure MetaMask to connect to the Matic network so you can have full control of your tokens. Once connected to the network, you will also have to use the Add Token feature to add 0xBTC to your wallet. The address for 0xBTC on Matic is 0x71b821aa52a49f32eed535fca6eb5aa130085978.

Does MVis Pool support Workers? How do I set it up?

Yes, workers are supported. The term "workers" refers to a feature whereby the mining pool will track the hashrate of each individual mining rig, and display it on your profile page. This allows you to monitor your mining farm and watch out for individual mining rigs that need special attention.

To set up for workers, simply append a unique alpha-numeric identifier to the end of your ETH address in your mining rig configuration screen. For example, 0x0123...0123,worker-001. You can use all numbers if you want. If you want your mining rigs to sort naturally in numeric order, pad the numerical part of the worker name with leading zeros as in the example given, so they are all the same length.

How do I change settings on my profile page?

To change any of your settings, you first need to prove you are the owner of that particular ETH address. There are two ways to do that. One is by signing a message using MetaMask, and the other is by entering a password. If you want to use the password method, please see the next FAQ entry, "How do I set a password on my account?"

To use MetaMask message signing, select that option when given the choice, then unlock your wallet and select your ETH mining address as the active wallet and make sure it is connected to the web page. Signing a message does not cost any money or gas fees.

How do I set a password on my account?

To set a password on your account, append a special string to the end of your ETH mining address on one of your mining rigs, in the form pwd=my_password. Use a comma or period to separate. For example, 0x0123...0123,pwd=abc123. If you also use worker names, put the password at the end. For example 0x0123...0123,worker-001,pwd=abc123

IMPORTANT NOTE: You do not have to put the password on all your mining rigs! You only have to put it on one. Once that miner connects up to the pool for the first time, that password will be recognized and set on your account. That password will stay on your account even if that mining rig goes offline.

Where can I get support?
Please visit the official MVis Discord.

Fees

What fees does this pool charge?
This pool charges a small, fixed percent fee to cover the basic operating costs of running a pool. This is payable in 0xBTC tokens, and is automatically deducted from your mining rewards. There are also ETH charges to cover transaction fees. These can vary quite significantly in short periods of time due to the volatile nature of blockchain gas prices, so there is no fixed percentage. There is however, a handy fee calculator on the deposit page which can help you estimate fees for the short-term future.
How does the pool decide how much ETH to deduct from each miner?
ETH fees are charged to the miner using a system similar to the Pay-Per-Share scheme used to award tokens. At the end of each 4 hour round, the total submitted share credits from all miners is used to calculate the 'theoretical' number of mints that would have occurred, and that, in conjunction with the current gas price, is used to come up with a total ETH fee, which is then charged to individual miners in proportion to the number of share credits they submitted.
How do I pay my ETH fees?

You can either send ETH to the pools minting account address on Ethereum Mainnet, or you can send WETH (Wrapped ETH) to the same address on the Matic Network. The address to send to in either case is 0x7d3ebd2b56651d164fc36180050e9f6f7b890e9d.

For detailed instructions on sending ETH, please see the Deposit ETH page. For sending WETH on Matic, see the next FAQ entry.

Can I pay my ETH fees on Matic by sending WETH?

Yes. Send WETH to 0x7d3ebd2b56651d164fc36180050e9f6f7b890e9d. Make sure the transaction originates from your mining address, so the pool knows who sent it. In other words, send directly from YOUR wallet (ie. MetaMask). Do NOT send from an exchange wallet.

The following information may be of some use to you:
  • If you're never used Matic before, you first need to connect your wallet to the Matic Network.
  • Next, you need to acquire some WETH. One way to do that is to transfer (deposit) ETH from the Ethereum Mainnet to the Matic Network. It will show up on Matic as WETH. To make the deposit, use the Polygon Web Wallet.
  • Alternatively, you could deposit just about any other crypto asset, and then swap that for WETH on the Quickswap exchange.
Do I need to deposit ETH before I start mining?
No. You can start mining immediately, and you will be awarded tokens as usual. Eventually, though, your ETH account will start going negative, which will disable payouts, but you can continue mining. Once you have enough tokens and you want a payout, simply deposit enough ETH to bring your account up to at least zero.
How can I check my current ETH balance on the pool?
You current ETH balance is displayed on your miner profile page, in the Miner Stats section. There is a also a detailed ETH transaction history a little further down under "Account History - ETH".
What happens if my ETH balance goes negative?
Your payouts will be disabled. You can still mine, and you will be awarded tokens. To receive a payout, simply deposit enough ETH to bring your balance to zero or greater.
What is the Effective Fee?
The effective fee is the combination of the fixed pool fee, and the variable ETH transaction fees, expressed as a percent of your mining rewards. It is a measure of the overall current mining profitability. This will vary over time, mostly because of changing gas prices, but also due to changing market conditions affecting the price of ETH and 0xBTC. You can see the current effective fee on the Pool Info page.
What is the Effective Fee Threshold?
The effective fee threshold is the point at which the mining pool will disconnect your miner from the pool, and refuse new connections. While this may sound crude, it has the significant advantage of allowing your mining rig to go idle and save electricity during times of high gas prices, without you having to constantly monitor the situation. When gas prices go down and mining is profitable once again, the pool will begin accepting connection attempts from your miner, and mining operations can resume. The effective fee threshold is set at 65%.
Is there an API for the Effective Fee?
Yes there is. You can find it right here: https://mvis.ca/api/effectivefee

Payout Scheme

What payout scheme does this mining pool use?

This pool uses a Pay-per-Share (PPS) scheme. The basic idea is that you are awarded tokens on a regular basis, every 4 hours, regardless of whether the pool mines a block or not. Your rewards are calculated based on your submitted shares. This is in contrast to the Proportional payout scheme used by a lot of pools, where you only get tokens when the pool mines a block.

If the mining pool hits a run of bad luck and doesn't mine a block in a while, a portion of your rewards may be held back depending on the current pool balance, but it will be kept on your account and paid back later when the pool is having better luck.

What are some of the specific details of this payout scheme?
  • The pool starts with a balance of 150 tokens. You can always check the current pool balance on the Pool Info page
  • Tokens are awarded in rounds lasting 4 hours each.
  • At the end of each round the credits earned from your submitted shares are totaled and converted to a token reward using the formula: (totalCredits / networkDiff) * blockReward.
  • When your rewards meet the minimum threshold, you receive a payout, minus the pool fee.
  • In the event the pool runs into a bit of bad luck and doesn't mine a block in awhile, the pool token balance will start to drop since it is still doing regular payouts. If the pool balance drops below 100 tokens, a proportional amount of your payout will be held back and put in a special Holding account that you can see on your Miner Details page.
  • Later, when the pool has better luck and mines some blocks, the pool balance will start to rise again. When it gets back above 150, your regular payouts will have an extra payback amount added to them to gradually reduce the Holding balance to zero.
  • You can expect your earnings to be about 20% better than predicted by the well known 0xBTC Mining Calculator, since it uses a 0.8 fudge factor .
What is the Pool Token Balance?

The Pool Token Balance is where your payments come from and where mint rewards are deposited to. This is what makes it possible for the pool to payout on a regular time schedule, even when it has not mined a block. The idea is that hopefully the payments and the rewards will balance out. I initially seeded the pool account with 150 of my own tokens to kick things off.

What is a Holdback?

A holdback is when tokens that you are owed are transferred into a special holding account instead of being paid out to you. This happens when the pool balance runs low due to a spell of bad luck.

Remember that as a miner, your token rewards are calculated assuming that the mining pool will be able to mine blocks at a perfectly consistent rate, but of course it doesn't work that way in real life. The actual profit of the mining pool is subject to variance, or to put it more simply, luck. If the mining pool has a run of bad luck and doesn't mine as many blocks as expected, the pool token balance can run low. When this happens, a portion of your mining rewards will be held back and put in a special holding account. Later, when the pool has better luck, the tokens will be paid back to you.

Stratum Protocol

What exactly is the Stratum protocol anyway? Why do I need it.

The Stratum protocol is a more efficient way for the pool and the miner to talk to each other. It uses the concept of "push notifications", where the pool sends certain mining parameters to the miner only when necessary. (If you are a computer dev, you could also compare it to a websocket connection).

This is in contrast to the legacy RPC protocol. RPC stands for Remote Procedure Call. Under this protocol, the mining software continuously queries the mining pool (often multiple times per second) to see if any of the mining parameters have changed. It does this by sending an HTTP request. This is very wasteful and inefficient, given that the mining parameters typically only change every 10 minutes on average.

How do I use the Stratum protocol on MVis Mining Pool?

First of all, note that most 0xBTC mining software does not support the Stratum protocol. This is especially true if you have a hosted FPGA mining rig on HashAltCoin (HAC). Your only option for a HAC hosted rig is to use the RPC protocol (port 8080).

However, if you are in possession of your mining rig, you can use a Stratum Proxy to connect to the pool. See The FAQ entries below on running a Stratum Proxy.

How do I run a Stratum Proxy?
  1. Download the Stratum Proxy .zip file and extract it to a folder of your choice. If you are running Linux, please see the Readme for alternate instructions.
  2. Double-click StratumProxy.exe to start the program.
  3. Enter an ETH address in the text box provided. This is the ETH address you will receive payouts to from the pool. This address needs to match the ETH address set in your mining software.
  4. Once you have done that the proxy should start automatically, and you should see some output in the log window at the bottom.
  5. Start your mining software and point it to http://localhost:8080.
Where can I get technical specs on the stratum protocol as implemented by MVIS Token Pool?
Right here: Stratum Specification

Other

Does MVIS Token Pool support merge mining?
No. Merge mining is the equivalent of printing money. It dilutes the value of 0xBTC.