Hi, could someone give me a rough estimate on how long one would have to mine to achieve 1 bitcoin ?
Say the scenario/setup is as follows:
- 7970 GPU (500 avg Mhash/s)
- 24/7 operation
- Slush's pool (or similar)
Thank you
I am thinking it would be measured in light years... just to let you know, 1 light year is exactly 1 year, and you will be 9460730472580800 metres away You are right!  |
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Hi, could someone give me a rough estimate on how long one would have to mine to achieve 1 bitcoin ?
Say the scenario/setup is as follows:
- 7970 GPU (500 avg Mhash/s)
- 24/7 operation
- Slush's pool (or similar)
Thank you
I am thinking it would be measured in light years... |
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It seems to me a person would not want to do testing between pools from one difficulty change to another as it would not be a fair comparison.
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BTC earned 100
BTC paid to members 56.7433733621021136
BTC Bonus paid to members 5.67433733621021136
Potential BTC left after payouts 37.58228930168767504
Oh and guess how I know these figures? Because all these stats needed to put this together are clearly posted on s0br's pool. Nothing is hidden at all I see it all and did the math on my FREE computer calculator.
So from this little common sense chart we can see not only is it possible for a pool to pay the highest reward of any pool out there, not only can you really run a profitable PPS pool but he can also pay a 10% bonus and still have a few BTC left over after its all said and done.
Your arguments are nonsense as they show a complete disregard of long term luck and variance in bitcoin mining. How true ck as luck is only temporary ...good and bad. The last 24 hours has been good to the pool but the prior 24 hours was not so kind. |
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"The biggest issue with BAN is that they are hiding where the extra 10% is coming from.
Why do people hide things unless they don't want people to know it."
Disclaimer: (I really have no knowledge if the pool is profitable or not).
Yes you do, because they "claim" to pay you 10% extra - that means they are making a loss on every block they payout on..... Think about it. No I can not answer that as I believe the pool controls a large part if not the majority of the hashing power. But as a PPS pool I really don't care. Um, of course you cannot answer that, you are not s0br ... However, anyone ignoring all the FUD about BAN, and not mathematically challenged, can clearly see that it is a loss and thus the pool cannot continue it forever. It is also statistically proven that a PPS pool cannot even continue 0% bonus payouts forever However anyone that is not mentally challenged can read what s0br posted over 3 months ago https://bitcointalk.org/index.php?topic=722202.0 that the bonus was only temporary until the pool hit 5Th. I also don't remember him ever saying that the pool will never charge a fee? But on that first page /post he made, it also says "This pool is intended to be a free service for a new company we're launching in the Fall and will be promoting soon. " so just maybe the pool is intented to not be a profit maker in itself but a service for something else that will make more money than any pool can. And of coarse I can not answer about the pools profitability as I can not answer that about any of the other pools. I have not seen anyone question Slush, BTC Guild or the others if they are profitable or not? You don't need to question Slush or BTC Guild - unless you are mathematically challenged - they already say how much of the pool income they keep - it's not 0% ... or -10% like BAN You can even work out from their payout schemes what income will be, that you'd then have to remove running costs and 'other' costs but those aren't known. Running costs and 'other' costs have to come from somewhere ... I see on the 'new' thread there is listed 26 BAN servers ... wow that sounds like high running costs ... So me being mentally challenged, I guess this 'new' thread below is just him spamming the pools forum making multiple pool threads so I can ask one of the mods to delete it and merge it back into that other thread that I've only posted in once coz someone linked my cgminer S1 binary release in there? https://bitcointalk.org/index.php?topic=854368.0As hard as it maybe for some here to understand, sometimes a persons success is not measured in dollars and just maybe not everyone is trying to earn a living off their mining pool. As far as asking the mods to do much, the forums seem to have a different standard depending on who you are or which mod you talk to. I don't see the new thread as spamming as the other thread is locked but you do what ever you think needs to be done. There are plenty of scam accusations posted on BAN's thread by someone that already has his own scam thread for him and the lynch mob to post in but I guess it's ok to harass and make false accusations and the mods just let it go on even tho it's off topic for the thread. |
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"The biggest issue with BAN is that they are hiding where the extra 10% is coming from.
Why do people hide things unless they don't want people to know it."
Disclaimer: (I really have no knowledge if the pool is profitable or not).
Yes you do, because they "claim" to pay you 10% extra - that means they are making a loss on every block they payout on..... Think about it. No I can not answer that as I believe the pool controls a large part if not the majority of the hashing power. But as a PPS pool I really don't care. Um, of course you cannot answer that, you are not s0br ... However, anyone ignoring all the FUD about BAN, and not mathematically challenged, can clearly see that it is a loss and thus the pool cannot continue it forever. It is also statistically proven that a PPS pool cannot even continue 0% bonus payouts forever However anyone that is not mentally challenged can read what s0br posted over 3 months ago https://bitcointalk.org/index.php?topic=722202.0 that the bonus was only temporary until the pool hit 5Th. I also don't remember him ever saying that the pool will never charge a fee? But on that first page /post he made, it also says "This pool is intended to be a free service for a new company we're launching in the Fall and will be promoting soon. " so just maybe the pool is intented to not be a profit maker in itself but a service for something else that will make more money than any pool can. And of coarse I can not answer about the pools profitability as I can not answer that about any of the other pools. I have not seen anyone question Slush, BTC Guild or the others if they are profitable or not? |
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"The biggest issue with BAN is that they are hiding where the extra 10% is coming from.
Why do people hide things unless they don't want people to know it."
Disclaimer: (I really have no knowledge if the pool is profitable or not).
Yes you do, because they "claim" to pay you 10% extra - that means they are making a loss on every block they payout on..... Think about it. No I can not answer that as I believe the pool controls a large part if not the majority of the hashing power. But as a PPS pool I really don't care. |
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"The biggest issue with BAN is that they are hiding where the extra 10% is coming from.
Why do people hide things unless they don't want people to know it."
s0br has let it be known, even back when the amount was 25% that he pays it himself. He has bought BTC to cover what the pool does not cover with found blocks. I was once on the chat with him and he thought he had misplace some coins ( like 2 blocks worth) only to find out a day later when he sent out a pool email that his wallet had been compromised. Even thru trials like that the man has always paid and i have a feeling he is well funded. At the beginning he was doing it all himself and found out it may have been a bigger task than he thought but with so many miners here for the "hobby" and mining at a loss why is it so hard to believe someone wants to build a pool that he can use himself even if it is not a financial positive cash flow at this time?
Disclaimer: (I really have no knowledge if the pool is profitable or not).
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Is your PC connected to router with Ethernet cable? http://m.ebay.com/itm/201216503973?nav=SEARCHIf so buy a Ethernet switch like this and plug your router cable into it and run one cable out to PC the 2 more one to each miner. I have a Dell 16 port I paid $20 off EBay and it works great.
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what i tried to do was setup my computers ip to have the same 3rd number as the miner. but it has to be the same 3rd number as the modem?
Yes you change the last numbers to something not already being used but do not change the others |
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My first miner is using 192.168.0.163 and my second one is setup to use 192.168.1.164 (since the default IP of the miner is 192.168.1.99)
it cannot use 192.168.1.164, it has to use 192.168. 0.164 because they are on your 192.168.0.1 router Yes good catch Biodom! Or was that a typo? |
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I just bought 2 S3's from private party here in the US. Paid .82 for both shipped to me. He has 7 more to sell if anybody is interested. He is taking BTC for payment at $175 each. Trustworthy person who I have bought off before. I like buying off Bitmain but the price with shipping makes it hard to justify unless BTC keeps going up.
that person is throwing money out of the window with bitmain charging ~$280 (w/shipping to US) Agree but glad I snagged them |
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My first miner is using 192.168.0.163 and my second one is setup to use 192.168.1.164 (since the default IP of the miner is 192.168.1.99)
Ok have you checked to make sure that .164 is not being used by something else. I have Fing app on my phone to check. If not then I would push the miner reset button and start over with the factory settings to try and get started. |
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I just bought 2 S3's from private party here in the US. Paid .82 for both shipped to me. He has 7 more to sell if anybody is interested. He is taking BTC for payment at $175 each. Trustworthy person who I have bought off before. I like buying off Bitmain but the price with shipping makes it hard to justify unless BTC keeps going up.
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Are you using a different IP address for both?
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Considering that alot of people are actually using btc to buy stuff(shady stuff like iks, but w/e) I think this uptrend is being caused by upcoming holiday season
I paid for a hotel room last week on Expedia in BTC |
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This "free electricity" bullshit needs to stop!
News flash... you don't really have free electricity... you just think you do. If you are renting an apartment or office with electricity included in your lease, or you live in a dorm room or your Mom's basement... someone is paying that monthly bill. And that someone is going to notice a large-scale mining operation when that bill rolls in.
And you probably have a very limited amount of that "free electricity". Certainly not enough to have a mining operation that brings in more than measly pocket change. An average size American home can run about 10THs of mining equipment. Mine barely does just that and it's touch and go if the A/C and pool pump are running at the same time. And the income it brings in these days is negligible. So in your average office/apartment, you'd be lucky to run 2THs before you blew circuit breakers... much less if you're in a dorm room.
So please stop saying you have "free electricity" unless you have a wind turbine, a hydro dam, solar farm, nuclear reactor or a perpetual motion machine in you backyard. And if you do, you'd make much more money selling your excess electricity back to the utility company.
Shwew, now I feel better!
I read where China provides free electric to business there so who is to say if there is not other Countries or Cities doing the same? But for the most part you are right. |
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I can read just fine. I just wonder why you need to "Educate" everyone about what could happen if you're not making insinuations, accusations, or something like it. This is supposed to be a thread about where people can mine to make more money, and all the "evidence" against that is speculative bullshit.
You guys don't like this pool? Fine. No one's making you mine here. Kano, you can start your own thread to promote your own pool and I hope it does well. I've read the same theory that you have, I just wonder why you feel the need to point out that pool operators could theoretically steal blocks and you could theoretically call the police. Do you send this kind of love to Eclipse MC too, or is Josh somehow exempt from your wise decrees?
In the world I live in, we try new things when the status quo sucks. Like all the existing pools that don't consistently pay well. Good luck with your pool dude. Rest assured no one from our team is gonna show up on your thread and start spreading theoretical drivel.
I think what Kano was referring to was with a PPLNS pool could hid blocks but miners would catch on unless the pool controlled a large amount of the hash rate and it's miners hit the block but as long as others find the block and it's shows on their miners then it would be hard to hide. I really think he was not referring to BAN hiding blocks and really it would serve no purpose anyways. |
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