See here for an example:

http://forum.bitcoin.org/index.php?topic=7427.0

Charts... I want all of them, and I want them configurable.

Take a look at the logarithm charts of price over difficulty and difficulty over price specifically.

Also, please incorporate a live ticker that users aren't forced to refresh the page hundreds of times a day.

That was pure awesome. Thank you.

Could you cite your sources please?

+1

Pay-Per-Share will always, or almost always anyway, net you less than Proportional. Even more so mining at Deepbit where Tycho charges you a 10% fee when using Pay-Per-Share versus a 3% fee for Proportional.

Slush charges a flat 2% fee. In all likelihood... you would make more by switching to Slush's pool. If you want to avoid fees all together, BTC Guild is a nice pool that allows you to donate if you want extra features, but it offers its base level of services for no fee.

Even if you were intent on using the Pay-Per-Share model, other pools offer it for a lower fee.

Some people believe statistics are a lie apparently.

It's apparent that statistics and math mean absolutely nothing to you. Like so many others, the PayDay Loan option has you with Dollar/Bitcoin signs in your eyes. All the while, the man behind the counter is laughing at you.

First off, I apologize for starting a new thread.

I find myself absolutely astounded at the amount of ignorance about how Bitcoin actually works. I will admit to not understanding it fully in all of its glory, but some of it isn't really that hard.

Totally ignoring any other claims about network security, here is why every miner on Deepbit should switch to another pool.


Tycho charges a 3% fee for Proportional work and a 10% fee for his Pay-Per-Share model. If any miner were to switch to a 0% fee pool,  of which there are a few, that miner would earn 3-10% more BTC.

People have the misconception that being in a larger pool guarantees you will make more BTC. This isn't the case. Having more hashing power just means that the variability of what you earn for each block will be more stable. On a smaller pool, the amount an individual earns for each block will vary more, sometimes by several bitcents. Averaged out over time, usually 7 days is all it takes, the total amount earned from each pool, if you discounted the fees they take out, would be the same.

Use the calculator at http://www.alloscomp.com/bitcoin/calculator.php.

The numbers it provides are by no means a guarantee of what you will earn forever, but they are statistically correct for the current snapshot of the network. Over a long enough period of time, if the difficulty and your MHash rate stay constant, that is the number of BTC you will earn in a given day, week, month, even year. The size of the pool you mine in has absolutely no effect on it. The only thing you're doing is giving away a percentage of your earnings for whatever services the pool provides you that you can't get elsewhere.

With the exception of Tycho's instant payout button, there is NO advantage to mining on Deepbit that can't be found elsewhere. Consider that when you decide to go shopping around for a new pool.

It genuinely makes more sense to go to a different pool.

Tycho charges a 3% fee for Proportional work and a 10% fee for his Pay-Per-Share model. If any miner were to switch to a 0% fee pool,  of which there are a few, that miner would earn 3-10% more BTC.

People have the misconception that being in a larger pool guarantees you will make more BTC. This isn't the case. Having more hashing power just means that the variability of what you earn for each block will be more stable. On a smaller pool, the amount an individual earns for each block will vary more, sometimes by several bitcents. Averaged out over time, usually 7 days is all it takes, the total amount earned from each pool, if you discounted the fees they take out, would be the same.

With the exception of Tycho's instant payout button, there is NO advantage to mining on Deepbit that can't be found elsewhere.

Being that Tycho charges 3% fee for Proportional and 10% for Pay-Per-Share, you would make 3-10% more at a pool with no fees, of which there are several.

It's rather irresponsible of both Tycho and the miners on Deepbit to continue in the current fashion.

I can understand Tycho's personal hesitation to limit the number of users allowed to mine at Deepbit considering he's probably making a lot of money right now. However, his short term gains could very well disappear if something were to happen to destabilize the whole Bitcoin economy as a result of one pool's greater than 50% share of the hashing power.

I think the increased fee structure is a brilliant idea to provide Tycho with more income while also using market principles to drive some users to other pools. It could be instituted with a rather low rate increase for different levels at first and then ramped up to drop network power down to the desired global level.

As for miners, I've never understood people's fascination with Deepbit. You're paying through the nose in order to get an instant payout feature. Have some patience and settle in for the long haul, you'll make more coin and stress less.

You're kind of a jerk, huh?

Slush,

I'm probably wrong, but I think I'm missing A payout. I received one at 6/7/11 @ 1:03 UTC, and I woke up at 13:00 UTC to only a confirmed reward of 0.05 BTC. Miners were going all night. What would be a good way to check?

Oh I got the idea right... I have two extra, currently empty, x1 slots on my motherboard...

@rhuian: I checked your post and clicked on the link, but the site said no items were found. Did you already finish selling off all of them?

Where does one acquire these expanders?

Please do cause a panic. I could use some cheap coins.

You're helping the network at least by making transactions process faster, but in terms of generating any type of income or profit... I'd say drop out.

Eh, we're all boned when the zombie apocalypse hits anyway. Enjoy the rally while it lasts

I think Deepbit has a good thing going for it. Tycho has worked hard to give it features that the large user base of miners want. Until other pools offer at least as much as can be found at Deepbit, people aren't going to switch. Other pools need to focus on stealing what Deepbit already has. It's harsh to say it like that, but it's the truth. While collectively it is in Bitcoin's best interest to switch pools, individuals aren't going to make that choice until the market makes it enticing for them.

I've stayed with Slush's pool personally because I have no reason to move elsewhere. I like the system, and it's in no danger of approaching that 50% danger zone. I have to admit that I've been eyeballing BTC Guild due to the 0% fee and the option of having miner idle alerts.