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I'll take the same pick I took last time: +1.76 to +2.00.
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Unfortunately, the average Joe probably won't care one way or the other. He's going to get his BTC payout for mining on f2pool, AntPool, whatever pool, and will continue to mine there unless those payments fail to get to his wallet. Furthermore, the people on the side of the argument that even empty blocks secure the blockchain aren't helping matters any. It's almost too bad that there's any BTC awarded for finding a block. Those pools would change their tunes very quickly if they got nothing from finding a block. You can bet they'd stuff every transaction they could into a block.
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At what price would you buy one ?
I wouldn't, simply because the next generation is around the corner. Let's say that I did purchase one, however. At the current network difficulty and BTC exchange rate, that S5 would expect to make ~$3.25 a day before power costs. ROI would be ~123 days. Using a very conservative network difficulty adjustment value of 2%, we're up to ~136 days. That right there should have convinced me not to purchase one in the first place... and I assumed free power in my numbers. |
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Not only is it possible, but it is also recommended. An offline, or cold-storage wallet, is a great place to keep the larger quantities of coin. A connected wallet (like Bitcoin Core or MultiBit HD) running on your computer that's online can be used to make purchases, pay bills, whatever. Finally, a mobile or online wallet for everyday spending when you're out and about. The amount of coin you keep in each decreases as you go: cold storage has the highest (least risk), mobile has the least (most risk).
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As has been stated, your power costs are the key factor to consider when thinking about purchasing mining hardware. Even at $0.10 per kWh, you're going to struggle to find a profit (an S5 would expect to net you about $1.80 a day currently).
The ones who make it are the ones who've got access to lots of very cheap power, buy bulk hardware direct from the manufacturer at a discount, pay very little for space, etc. In other words, the farms.
Home and hobby miners are squeezed out more and more. For example, last week you could get an S5 directly from Bitmain for about $375 plus shipping. Today, that same S5 will cost you $400 plus shipping. If we assume the numbers I used above remain constant (which they don't), that new S5 would take you 222 days of mining to pay for itself.
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Feel sorry if you ordered an s-5 at the new higher price of 439 plus shipping. Good luck with that.
Gotta love Bitmain... Finance guys: hey, BTC is trending up? Woohoo! Raise the price of the miners!!! Hardware guys: sweet! We can sell off those old S5s from our data center for even more $$!!! Makes more room for these shiny new S7s! Sales guys: well... they're not saying anything at all... they're still too drunk to form complete thoughts. |
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Anyone know how to ban peers on bitcoin qt. I'm not sure it's possible.
Also can anyone point me in direction of a good tutorial for bitcoind?
Bitcoin 0.11.0 solves the freezing i was seeing (recommended to upgrade if you have issues) This release supports running a fully validating node without maintaining a copy of the raw block and undo data on disk. AKA pruning which has to be manually activated by using below code in
bitcoin config and don't use it if you use the wallet function because it turns it off. (also incompatible with -txindex will auto. turn it of)
prune=N : where N is the number of MB to allot for raw block & undo data (don't know what is a good number they mention 550mb though)
They are also recommending these for the transaction flooding
minrelaytxfee=0.00005
limitfreerelay=5 defualt=10
I'm not sure you can ban peers directly with the core software. If needed, I just add firewall rules to block the IP addresses of the bad peers. If you're using Ubuntu and ufw, it's absurdly easy: My local node has been updated to core 0.11.0 and 14.0-9. While I'm still seeing higher-than-usual rejected hash rate percentages, I haven't experienced the freezing/lost contact issues again. So far, so good. |
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To see how well the network coped with the recent "stress tests" I ran the numbers again, from block 364145 until the most recent one: 365138. The following screenshot is pretty telling:  The most recent block in the list, found by f2pool was indeed an empty block. There are around 20,000 unconfirmed transactions. |
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Why would they? The pool operators have no clue what is going on. I find it humorous when I go to the website and am greeted with "Welcome To Beast BTC, we are a new mining pool devoted to PPLNS, which is currently in pre-stage level."
PPLNS in pre-stage level? Yeah...
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When I view my Antminer and I see it found a block, is there somewhere else it will show me the blocks are done and I can reboot it?
If your Antminer shows it found a block, then it's already done and gone. You're not waiting for it to finish up anything. You can reboot any time you want. |
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No, I can't say I've ever waited 5 days for the core to synchronize... unfortunately, you're doing this on some pretty low-end hardware. That 1.4GHz dual core AMD CPU isn't going to set any records, and chances are you've got a 5400RPM mechanical drive in there as well. Sorry it's taking so long for you.
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It would be exceedingly helpful if you posted the transaction ID so we can give you some more information about what may have happened.
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And another week of poor luck has passed us by. A lot of things happened recently... adoption of BIP66, p2pool upgrade to 14.x, "stress tests", and so on. I'm not trying to insinuate these things caused the bad luck, but we've certainly had a number of things thrown at us all at once. At least the blocks that p2pool did mine this week contained transactions, unlike our friends over in China who have the vast majority of the BTC network's hash rate. Tens of thousands of transactions waiting to confirm, and they're sill pumping out empty blocks.
Here are the numbers:
7/3 - 7/10
NastyPoP - 0.02039533BTC
NastyP2P - 0.02521461BTC
Expected - 0.030289BTC
Luck - 71.40%
OP updated.
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Also, there are going to be no fees, not sure if someone said there is going to be fees but the pool is programmed currently for no fees, the server dues and such will be taken out of the admin's payments, as a donation to the pool made by them individually. I assume by the part I bolded that these admin payments are simply earned coin from the admin's own personal miners that are mining on the pool with everyone else, and not 0.3 BTC pulled directly from the found blocks as you stated earlier in this thread. Exactly! The admin's personal miners are paying for the system, and if needed, the investors are willing to step in too. So, full 25 BTC to the miners. What about transaction fees? Are those paid to the miners as well, or does the pool keep them? |
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And our Chinese pools continue to mine empty blocks, even with 13k unconfirmed transactions waiting... 364748 mined by f2pool is empty.
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Also, there are going to be no fees, not sure if someone said there is going to be fees but the pool is programmed currently for no fees, the server dues and such will be taken out of the admin's payments, as a donation to the pool made by them individually. I assume by the part I bolded that these admin payments are simply earned coin from the admin's own personal miners that are mining on the pool with everyone else, and not 0.3 BTC pulled directly from the found blocks as you stated earlier in this thread. |
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There is a risk with every single crypto currency (even BTC) that it could end up worth nothing at all.
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The sad thing is that assuming you went through the proper eBay channels (like paying with paypal, communicating only through eBay, etc), you as the seller can still be screwed pretty badly. Even if you mark the items as no returns or refunds on the sale, if the buyer files a complaint and says the item wasn't as described, he's likely to win that dispute. The buyer has 45 days from the date of payment to file a claim with eBay stating the item was not as described. Feasibly the guy could get your miner, plug it in, mine for a month and then file a claim. He'd be refunded. It's a sad situation, but eBay basically offers no protection whatsoever to the seller.
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Even though I didn't pick it, I'm happy that things dropped back down to the 2.5% increase range... for a while there it really looked like we were going to see north of 5%. Chances are exceptionally good it'll be over 50G when it happens, but with the price of BTC at $285, my S3s will remain plugged in another couple weeks  |
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