The Mining Pool Payout System You Need to Know: Full Pay-Per-Share

I've been diving deep into crypto mining lately, and let me tell you - understanding how you get paid is crucial if you want to avoid getting screwed over. Full Pay-Per-Share (FPPS) is one payment method that's caught my attention, and I think you should know about it too.

What the hell is FPPS anyway?

FPPS is basically a mining pool payment system where you get a guaranteed payout for every share you submit, regardless if the pool finds a block or not. From my experience, this is actually pretty fair compared to some of the other sketchy systems out there.

When I first started mining, I had no clue how shares worked - they're just proof that you're contributing computing power to the network. With FPPS, I don't have to stress about whether the pool gets lucky or not - I just get paid.

How this actually works in practice

The calculation is straightforward but reveals how these pools make their money:

Payout per share = (Block reward + Transaction fees) / Network difficulty

The pool then takes their cut - which is often higher than advertised, if we're being honest.

For example, with a 6.25 BTC block reward plus 1 BTC in fees at 20 trillion difficulty, each share pays out 0.0000000003125 BTC. After the pool skims their 2% (which sometimes mysteriously becomes 3-4%), you get 0.00000000030625 BTC per share.

Why I prefer FPPS (mostly)

I've tried different pool payment methods, and FPPS has some clear advantages:

• No bullshit - you know exactly what you're getting paid
• Predictable income - helps me plan my electricity costs
• Low stress - I don't obsess over pool luck factors

The downsides nobody talks about

Let's be real though - nothing's perfect:

• These pools charge hefty fees compared to others. I've seen some that claim 2% but are effectively charging closer to 4%
• It encourages people to run inefficient mining setups since you get paid regardless
• The pool operator can get absolutely wrecked if they miscalculate, and some smaller pools have collapsed under these obligations

My take

FPPS works well for me as a mid-sized miner. I don't have to worry about pool hopping or deal with wildly fluctuating payouts. Yeah, I pay slightly higher fees, but the predictability is worth it.

For smaller miners just getting started, it's probably your safest bet - you'll get consistent payments without needing to understand the complexities of block rewards and luck factors.

Just make sure you're using a reputable mining platform that can actually fulfill their payment obligations - I've seen too many fly-by-night operations disappear with miners' funds when BTC prices tank.