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Title: Newbie mining question -- Fees? Post by: Celroc Amaul on January 15, 2014, 09:28:59 AM Hi all,
So, I was reading about how different mining pools charge different fees. Would I be right to assume that a fee will only come out of the profit I make mining, or might I be required to cover some of the fees out-of-pocket so to speak? Or rather, is there a potential to lose existing bitcoins while mining, I mean? Thanks! Celroc Title: Re: Newbie mining question -- Fees? Post by: Rannasha on January 15, 2014, 11:19:49 AM Hi all, So, I was reading about how different mining pools charge different fees. Would I be right to assume that a fee will only come out of the profit I make mining, or might I be required to cover some of the fees out-of-pocket so to speak? Or rather, is there a potential to lose existing bitcoins while mining, I mean? Thanks! Celroc Pool-fees always come out of the mining-income. So a 25 BTC block mined by a pool with a 1% fee will yield 24.75 BTC distributed among the miners. There are no up-front costs. Title: Re: Newbie mining question -- Fees? Post by: bitpop on January 15, 2014, 01:11:35 PM Use bitparking
Title: Re: Newbie mining question -- Fees? Post by: Omikifuse on January 15, 2014, 01:38:20 PM Hi all, So, I was reading about how different mining pools charge different fees. Would I be right to assume that a fee will only come out of the profit I make mining, or might I be required to cover some of the fees out-of-pocket so to speak? Or rather, is there a potential to lose existing bitcoins while mining, I mean? Thanks! Celroc Well, it charge 1% immediately when the pool found a block. The pool don't take into consideration your electricity bills and so on :) Title: Re: Newbie mining question -- Fees? Post by: Hashcesar84 on January 17, 2014, 11:20:19 AM Hi all, So, I was reading about how different mining pools charge different fees. Would I be right to assume that a fee will only come out of the profit I make mining, or might I be required to cover some of the fees out-of-pocket so to speak? Or rather, is there a potential to lose existing bitcoins while mining, I mean? Thanks! Celroc The pool take fees directly from the block solved. So it can't take your bitcoins confirmed! Title: Re: Newbie mining question -- Fees? Post by: libitum on January 19, 2014, 01:25:03 AM I use Eligius. It is the most popular one because it has zero fees. It has 1900 TH/s.
UI is the worst, but for the price, I am happy with it. Title: Re: Newbie mining question -- Fees? Post by: bitpop on January 19, 2014, 02:55:23 PM No best pool is bitparking
Title: Re: Newbie mining question -- Fees? Post by: Celroc Amaul on January 19, 2014, 08:08:25 PM Hi all, So, I was reading about how different mining pools charge different fees. Would I be right to assume that a fee will only come out of the profit I make mining, or might I be required to cover some of the fees out-of-pocket so to speak? Or rather, is there a potential to lose existing bitcoins while mining, I mean? Thanks! Celroc The pool take fees directly from the block solved. So it can't take your bitcoins confirmed! Ah, okay, perfect, that's just what I wanted to know. Thank you! And thank you to everyone else who answered as well :) Title: Re: Newbie mining question -- Fees? Post by: alibuggy on January 23, 2014, 02:05:40 PM Sorry for noob question. Can anyone explain me what happend with founded block in pool mining? Who gets reward for that? All who participate with hash for that block or just the finder? Does reward depends on pool or coin policy...
THX Title: Re: Newbie mining question -- Fees? Post by: bitpop on January 23, 2014, 04:12:56 PM Sorry for noob question. Can anyone explain me what happend with founded block in pool mining? Who gets reward for that? All who participate with hash for that block or just the finder? Does reward depends on pool or coin policy... THX Everyone shares, it's the whole point Title: Re: Newbie mining question -- Fees? Post by: h3rlihy on January 23, 2014, 04:16:10 PM When the block is found everyone that contributed gets a share of the mined coin. That's the whole point of pool mining. And yes the pool fees only come out of mining profit, you don't need to be getting your credit card out to start pool mining ;D
Title: Re: Newbie mining question -- Fees? Post by: bitpop on January 23, 2014, 04:20:08 PM Use bitparking
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