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Title: My bitcoin reward keeps decreasing!? Post by: wolfEXE57 on December 21, 2014, 08:16:53 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help! Title: Re: My bitcoin reward keeps decreasing!? Post by: Martijnvdc on December 21, 2014, 08:27:34 AM The total hashrate of the network keeps increasing. The more devices participate, the more calculating power there is.
The network adapts, by increasing the difficulty, so that blocks keep coming at 10 minute intervals on average. Your 4 miners have a certain hashrate, which doesn't change. However, your proportion of the total hashrate gets lower and lower, since the network gets bigger and bigger. It's normal for your income to get lower over time, and it's the nature of bitcoin. Title: Re: My bitcoin reward keeps decreasing!? Post by: elasticband on December 21, 2014, 08:39:46 AM i am seeing questions lime this far too often now. People really buy and mine without understanding the basic principles. ........ the world is doomed
Title: Re: My bitcoin reward keeps decreasing!? Post by: Farmer17 on December 21, 2014, 09:15:50 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! 3 months ago, the difficulty was 29,829,733,124. Today, the difficulty is 39,457,671,307. The difficulty has increased 32%, and so your mining reward has decreased accordingly. Title: Re: My bitcoin reward keeps decreasing!? Post by: ranochigo on December 21, 2014, 12:36:40 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Bitcoin difficulty adjusts every 2016 blocks, 2 weeks on average. The network would adjust the difficulty according to the average timing between each blocks. The network would then increase or decrease the difficulty to try to make the interval between blocks to be 10 minutes. If the 2016 blocks take more than 2 weeks to solve, the difficulty would decrease and vice versa. The higher the difficulty, the less your earnings would be. The difficulty has increased tremendously therefore, your earnings has decreased.Please help! Title: Re: My bitcoin reward keeps decreasing!? Post by: Amph on December 21, 2014, 01:28:14 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! this is the basic of all basic, the diff simple rised and you gain less, now the diff is declining a bit Title: Re: My bitcoin reward keeps decreasing!? Post by: sl@ppy on December 22, 2014, 03:14:25 AM i am seeing questions lime this far too often now. People really buy and mine without understanding the basic principles. ........ the world is doomed It has always been this way. This is what makes societies go round Title: Re: My bitcoin reward keeps decreasing!? Post by: Sindelar1938 on December 22, 2014, 04:17:42 AM That's the way it works. Get in the mining hardware arms race or stop mining.
Title: Re: My bitcoin reward keeps decreasing!? Post by: ndnh on December 22, 2014, 05:43:43 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! Assume two variables. x - your mining power y - total mining power. x remains the same. y keeps rising and difficulty rises. Your return = x/y falls. Title: Re: My bitcoin reward keeps decreasing!? Post by: hyphymikey on December 22, 2014, 05:55:17 AM More people mine = less coins per miner
Should have just bought coins and held on to them Title: Re: My bitcoin reward keeps decreasing!? Post by: rz20 on December 22, 2014, 08:24:27 AM 1 - Hash rate has grown 30% in 3 months.
2 - More people mining in your pool. Title: Re: My bitcoin reward keeps decreasing!? Post by: lynn_402 on December 22, 2014, 04:24:59 PM 1 - Hash rate has grown 30% in 3 months. 2 - More people mining in your pool. It makes no difference that there are more people mining in his pool, except that the payments are more likely to happen often and to be regular. Title: Re: My bitcoin reward keeps decreasing!? Post by: kpitti on December 22, 2014, 05:19:51 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! What price you (or your parents) pay for electricity which is consumed by your HW? As you understnad the difficulty in the mining I think it`s important to understand your cost too. Have a look here on Bitcointalk around, get some basic informations. Good luck Title: Re: My bitcoin reward keeps decreasing!? Post by: ChuckBuck on December 22, 2014, 05:29:04 PM If I had 4 Antminer U2's running I wouldn't be pool mining for chicken scratch, I'd be solo mining for the BTC lotto.
If you didn't read up and research about mining rewards vs difficulty vs network hash rate, don't know what to tell you. If you were wise, I'd get off Slush and mine at one of these: http://www.kano.is/ http://solo.ckpool.org/ At least this way if you have the luck of the Irish, you'd get 99.5% of a block or 24.875 BTC instead of mice droppings everyday. Title: Re: My bitcoin reward keeps decreasing!? Post by: Kprawn on December 22, 2014, 07:26:27 PM If I had 4 Antminer U2's running I wouldn't be pool mining for chicken scratch, I'd be solo mining for the BTC lotto. If you didn't read up and research about mining rewards vs difficulty vs network hash rate, don't know what to tell you. If you were wise, I'd get off Slush and mine at one of these: http://www.kano.is/ http://solo.ckpool.org/ At least this way if you have the luck of the Irish, you'd get 99.5% of a block or 24.875 BTC instead of mice droppings everyday. You will need all the luck of all the Irish in Ireland to accomplish that. ;) The difficulty might decrease, if more solo miners pull out, but the days from making money from solo mining, has come and gone. >:( Title: Re: My bitcoin reward keeps decreasing!? Post by: LiteCoinGuy on December 22, 2014, 08:17:00 PM this is why :)
https://blockchain.info/de/charts/hash-rate?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= Title: Re: My bitcoin reward keeps decreasing!? Post by: sifter on December 22, 2014, 08:21:36 PM There's this;
https://bitcointalk.org/index.php?topic=39168.0 https://en.bitcoin.it/wiki/Difficulty https://blockchain.info/de/charts/hash-rate?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= http://bitcoin.stackexchange.com/questions/23099/what-does-the-mining-difficulty-number-really-mean Title: Re: My bitcoin reward keeps decreasing!? Post by: goosoodude on December 23, 2014, 01:21:54 AM The total number of coins generated per day is kept fixed. So if more miners are mining the difficulty to mine increases to keep the coin generation number fixed.
Title: Re: My bitcoin reward keeps decreasing!? Post by: sifter on December 23, 2014, 09:47:37 AM Next year July guys, the block halves, be ready.
Title: Re: My bitcoin reward keeps decreasing!? Post by: activebiz on December 23, 2014, 10:51:55 AM the higher the difficulty the lower the rewards. you can use a profitability calculator to estimate your reward
Title: Re: My bitcoin reward keeps decreasing!? Post by: Stedsm on December 23, 2014, 01:01:06 PM Next year July guys, the block halves, be ready. Chaos.. No one is ever going to ROI again. Title: Re: My bitcoin reward keeps decreasing!? Post by: HeroCat on December 23, 2014, 01:39:50 PM The difficulty has increased, and your daily mining is less profitable, simple as that ;)
Title: Re: My bitcoin reward keeps decreasing!? Post by: ChuckBuck on December 23, 2014, 01:47:15 PM The difficulty has increased, and your daily mining is less profitable, simple as that ;) If you want to get technical, the difficulty has actually decreased the last two periods and is on pace for a third straight decrease: Code: Difficulty History Though yes, the point you were trying to make is network hash rate growth is exponentially increasing, even with the 3 most recent difficulty decreases, though it seems we may reach a point of equilibrium in the not so distant future. For the noobs, there's too many dudes mining the same gold nugget, that you only end up with gold dust on your pickaxe. Biggest pickaxe gets the biggest chunk. Title: Re: My bitcoin reward keeps decreasing!? Post by: sakira on December 23, 2014, 03:07:17 PM because difficult bitcoin increasingly rising.
I was so. income from 0.0017 is now just getting 0.00025 Title: Re: My bitcoin reward keeps decreasing!? Post by: Mobius7 on December 25, 2014, 11:02:55 AM Next year July guys, the block halves, be ready. Chaos.. No one is ever going to ROI again. Nope it is not. The next block halving is going to happen around July 2016 instead. So we are going to continue having a 25 block reward for one and a half year. Title: Re: My bitcoin reward keeps decreasing!? Post by: Bananana on December 26, 2014, 04:04:17 AM Next year July guys, the block halves, be ready. Are you sure its next year july? I though its 2016 july which is about 1 and half year from now. Title: Re: My bitcoin reward keeps decreasing!? Post by: valvalis on December 26, 2014, 04:22:02 AM the higher the difficulty the lower the rewards. you can use a profitability calculator to estimate your reward and also you should keep increasing your hashrate constantly. the bigger network the less your propotion rewards. Title: Re: My bitcoin reward keeps decreasing!? Post by: yenzae0215 on December 26, 2014, 05:10:50 AM Next year July guys, the block halves, be ready. Are you sure its next year july? I though its 2016 july which is about 1 and half year from now. what is the effect of that? Title: Re: My bitcoin reward keeps decreasing!? Post by: SirChiko on December 26, 2014, 11:07:22 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. No it isn't problem with your hardware the total hashrate of network and diff is increasing so you still own lower and lower percentage of mining power wich maked you earn way less coins.Please help! Title: Re: My bitcoin reward keeps decreasing!? Post by: fildza on December 26, 2014, 12:12:21 PM Did you just mine without understand about mining? Difficulty keep increasing. You not get same btc everyday dude
Title: Re: My bitcoin reward keeps decreasing!? Post by: Agestorzrxx on December 26, 2014, 12:46:20 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. the hash rate is increasing. It is hard and hareder to mine bitcoin.Please help! Title: Re: My bitcoin reward keeps decreasing!? Post by: sifter on December 26, 2014, 01:54:58 PM Next year July guys, the block halves, be ready. Chaos.. No one is ever going to ROI again. Nope it is not. The next block halving is going to happen around July 2016 instead. So we are going to continue having a 25 block reward for one and a half year. Whoops :D I seem to have jumped the gun. Well it's almost 2015 so we're getting close. Title: Re: My bitcoin reward keeps decreasing!? Post by: Sonny on December 27, 2014, 06:58:05 AM Next year July guys, the block halves, be ready. Are you sure its next year july? I though its 2016 july which is about 1 and half year from now. what is the effect of that? Miners will get just 12.5 btc + tx fee after halving, so older ASICs will not be profitable to run. Some miners may shut down their ASICs. Those planning to buy ASICs may switch to buy bitcoin directly as well. Title: Re: My bitcoin reward keeps decreasing!? Post by: sgk on December 30, 2014, 07:32:28 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! The number of people mining Bitcoins keeps increasing, but the reward stays at 25 BTC / block. This gives everyone less Bitcoins as time passes. Unless the number of people (total hashrate) decreases, this is bound to happen this way. Title: Re: My bitcoin reward keeps decreasing!? Post by: Pierre11 on December 30, 2014, 08:36:12 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! The number of people mining Bitcoins keeps increasing, but the reward stays at 25 BTC / block. This gives everyone less Bitcoins as time passes. Unless the number of people (total hashrate) decreases, this is bound to happen this way. Hash rate is actually going down, so rewards might increase in the future. Title: Re: My bitcoin reward keeps decreasing!? Post by: Vod on December 30, 2014, 10:16:24 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! I used to make 5 bitcoins per minute (no joke!). Now, with the same hardware I couldn't make one bitcoin in a decade. :-\ Title: Re: My bitcoin reward keeps decreasing!? Post by: CrackedLogic on December 30, 2014, 10:21:31 PM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! I used to make 5 bitcoins per minute (no joke!). Now, with the same hardware I couldn't make one bitcoin in a decade. :-\ I used to have a 50GH/s asic that could pull just over 1.5 bitcoins a month. If I still had it now it would be making just enough to cover the tx fee Title: Re: My bitcoin reward keeps decreasing!? Post by: sgk on December 31, 2014, 10:31:13 AM So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool. Please help! I used to make 5 bitcoins per minute (no joke!). Now, with the same hardware I couldn't make one bitcoin in a decade. :-\ Man, you're just making me go crazy. I wish I had woke up early to Bitcoin mining! How would it feel to have thousands of BTC sitting in a USB drive somewhere in the corner of my desk? :D Title: Re: My bitcoin reward keeps decreasing!? Post by: Corenin on December 31, 2014, 10:43:52 AM your rewards decreasing because the time you started mining difficulty was lower then now
as difficulty for bitcoin mining rise , mining rewards for your hardware keep decrease Title: Re: My bitcoin reward keeps decreasing!? Post by: Small on December 31, 2014, 10:47:41 AM Yes, as what other people said,
difficulty makes mining bitcoin for your bitcoin miner harder, therefore you get less rewards in the given time. Since that's how Bitcoin and the miner community is, it's a lot more profitable if you moved your hashing power to a different cryptocurrency (SHA 256 that is) since you can get a lot more of the coins and just exchange it for a better value than you are getting with mining bitcoin. Title: Re: My bitcoin reward keeps decreasing!? Post by: Domino on January 01, 2015, 04:44:11 PM Since that's how Bitcoin and the miner community is, it's a lot more profitable if you moved your hashing power to a different cryptocurrency (SHA 256 that is) since you can get a lot more of the coins and just exchange it for a better value than you are getting with mining bitcoin. Or more easily, you can point your hashrate to a profit-switching pool, and the pool will keep tracking the profitability and choose the best coin for you automatically. |