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How much available power does this "mining center" have? What are the costs of that power? What is the cooling situation? Shelving and cabling? Other equipment like switches, routers, power supplies, etc? How many S9s are you planning to bring online? Are there other costs associated with this space (like rent/lease/employee payroll)?
All of those are sunk costs. Some are immediate, others are ongoing.
Let's assume you are planning to put up 100 S9s. That's roughly 1.3PH. Just the hardware alone will run you about $200,000. At current difficulty, that 1.3PH expects to earn you about $27,000 a month. Just to recoup your hardware costs (assuming no network difficulty increases and BTC price remaining stable) will take you about 7.5 months. That doesn't include any other expenses like power, maintenance, rent/lease, etc.
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That model allows for your message to be appended to AntPool's signature on the coinbase transaction. Anyone can add whatever message they want to any transaction. Using Bitcoin Core, you create a transaction with your hex-encoded message, sign the transaction and send it out. Prior to 0.12.x, this had to be done manually (I wrote code to do it a while back), but now it's part of the createrawtransaction API. |
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All bitcoin daemons have been updated to version 0.13.1. Mining was not impacted in any way.
Good luck to all!
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I was still thinking about this thread, and i actually forgot to say a couple of things in my previous post:
Before completely abandoning the idear to start mining, you could also investigate following paths:
- this forum has members selling their older gear for a fraction of the price. If you could find somebody from your country that wants to sell you an S7 + PSU or an avalon 6 + PSU (and controller, i think the avalon 6 needs a controller, but i'm not 100% sure) you might be able to work out a profitable deal.
By buying recent hardware like an S7 or avalon 6 with all the "extra's" (like PSU, controller, cables) included from somebody from your own country, you pay a fraction of the price for the hardware, no custom's fees, small postage fees,... And you have somebody in your own language to help you out when setting up everything.
- you might want to give up on bitcoin mining because of the investment, but you could also invest in one or two decent GPU's, usb powered risers and use your pc to mine altcoins using those GPU's... The investment is smaller, the warranty on a new GPU is usually a lot longer, they usually sell those GPU's from a shop in your country,...
Anyways, if you chose any of the 3 options i talked about (a new S9, and older S7 or avalon 6, GPU mining), you allways have to make a full plan and do all the calculations beforehand... A lot of people buy gear only to find out they cannot break even.
Yes, the A6 needs a separate controller. A raspberry pi works in this capacity. You can chain a bunch of A6 together on a single rPi controller. |
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Perhaps a better analogy is to think of the payments you've received as nuggets of gold and the transaction as a crucible. You take several nuggets (unspent outputs) that you've received and toss them all into a crucible (transaction). The crucible (transaction) now has a total value that has been provided to it. Melt the nuggets together and now they no longer exist as separate nuggets. Then you pour out some of that melted gold into one or more molds (new unspent outputs) that you will give to pay for something. Once the right amount has been poured out for each person you are paying, you pour the remaining amount out into a mold for yourself that you will keep as "change" from the transaction and will use in the future to provide value to a new transaction.
Great analogy Mr. Hamilton! To continue that analogy, the fees would be calculated based upon the number of nuggets you initially dump into the crucible and into how many molds the melted gold must be distributed from the crucible. Once you've determined everything (number of nuggets, number of molds and how much of the gold you're willing to pay for the smelting services) you broadcast that work order to a network of workers. If you offer a lot of gold for the smelting, a lot of smelters will pick up that work order and try to complete it as soon as possible. If, on the other hand you don't offer a lot of gold for the smelting services, very few, if any, smelters will bother with it. |
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Using your analogy of pennies and quarters...
Let's say you want to send $0.25 to somebody. If you have a quarter, you just hand it to them. It's a single unit. If you have pennies, you need to collect 25 of them.
Each of the cases results in the same thing: the receiver got his 25 cents. The difference is in how you sent it. In the first case, you had a single input to the transaction: a quarter. In the second case, you have 25 inputs to your transaction.
It's not the transaction ID, but rather the contents of the transaction that determines the size.
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You're comparing a SCRYPT miner to a SHA-256 miner. Not really apples to apples comparison there.
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Don't worry, you chose a relatively small fee compared to the transaction size. I had a transaction size over yours and preferred to pay 10k satoshis only. I was told it's possible for my transaction to never be confirmed and I was scared; I woke up the next day with it already confirmed for hours. You know need patience and it'll be confirmed soon.
I am also scared to be honest because I need this transaction to get confirmed ! I faced a similar issue a few days back transaction not getting confirmed due to low fee but user "QuickSeller" got my transaction confirmed in minutes when I sent him 0.0001 BTC. He has access to some pool . PM him. Pretty sure he's with macbook-air on f2pool. |
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The problem is with the number of unconfirmed transactions on the network. Yesterday there was a backlog of over 40k. Right now, there are over 20k transactions waiting.
Since most mining pools pick the most profitable transactions to mine first, the higher the fee paid, the more likely the transaction to be included sooner.
The person who sent you that coin used the typically recommended fee of 0.0001BTC per kb. Unfortunately, due to the backlog, the average transaction fee to get included in the next block is about 10 times that.
Your only recourse is to 1) wait or 2) contact the sender and see if they'll do a double spend.
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Transaction mentioned in OP has confirmed. Thread can be locked.
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Yeah... let's evaluate...
10TH/s for 4.2BTC not gonna get it until April if I'm lucky.
(9.5TH) 2xS7 for 5.6BTC I have in my hands next week.
I mine for 12 weeks with those S7s before I have the possibility of getting yours. Even with 10% increases every jump, I'm still going to mine about 3BTC in that timeframe. That more than makes up for any price difference between the two miners.
Good luck with that.
LOL... Guess I was wrong on the date I would have gotten the miner. Shipping in March or April, huh? Glad you guys actually got a unit built, but you missed your mark by over half a year. |
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Wiki username: jonnybravo0311
Thanks!
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This belongs in the alt coin forum. No BTC mining on the URL in the OP.
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Transaction was confirmed in block 435993, so this topic can be locked.
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Unfortunately, there's not a whole lot you can do about that transaction. You could try to double spend it (start Bitcoin core with -zapwallettxes to remove the unconfirmed transaction), then create a new transaction with higher fees.
You could try to contact some of the larger pools (macbook-air for f2pool) to see if they'll push your transaction.
Or you can wait. There are currently over 40k unconfirmed transactions.
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Only big scale mining is profitable as you might find out soon enough, there can't be any positive income with less than 10 antminer s9.
Not true. The number of miners you have is not relevant. What is relevant is how much it costs you to run those miners. Right now, the S9 is profitable. At an electricity cost of $0.10 per kWh, the S9 costs you $3.30 a day to run. It expects to make 0.01289 BTC a day, which translates into $8.63, netting you $5.33. Obviously those numbers will change based on network difficulty and of course BTC -> USD conversion. Doesn't matter if you've got 1 or 1000. An S7 (4.73TH for 1293W), on the other hand barely breaks even with an electricity cost of $0.10. That miner would expect to earn 0.00469 BTC a day (roughly $3.14 currently) and cost you $3.11 to run netting you a whopping $0.03 a day. If having a single miner isn't profitable, having 1000 of them won't be either. |
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This might be arguing semantics, Phil, but a transaction has inputs and outputs. It isn't composed of other transactions. The number of inputs and outputs determines the size of the transaction itself. The size of the transaction determines the fee one should apply. In other words, you might be a miner that receives many small payments from a pool... let's say you get 0.01 BTC per block. If you wanted to send me 1 BTC, that would require 100 inputs and 1 output (assuming no change). It's a single transaction, not a transaction composed of 101 other transactions  . The hundred transactions that sent the miner 0.01 BTC each have already been accounted. |
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I think the problem with "CrPPSRB" lies in its presentation. People see that they are being paid back shares when the pool is lucky and think they're making out. What is glossed over (and kano clearly points out), is that the absolute theoretical max reward is 100%. You can never, ever go above that value because at its heart, it's a PPS system. With PPLNS, you can "make up" for swings in bad luck by having swings of good luck. Using kano's pool as an example, you can see from the monthly statistics that while August and September were "bad", March, April, May, June, July and October were good. The pool's lifetime is 105.04%. Same holds true with my own pool. Although, with the small hash rate, I'm far more susceptible to swings of variance, to date my pool is running 105.74%. You simply cannot ever achieve that on any PPS variant.
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Well that didn't last long... there is no longer a BTC mining pool at the provided URL. Currently only some alt coin mining is available.
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You need some way to attract miners to your pool. That's what it all boils down to. The more miners you convince to hash with you, the more coin you can make as a pool operator. The problem is that the vast majority of the hash rate belongs to China. Chinese pools represent over 75% of the network. They continue to grow because that's where so much gear is produced and hosted. Cheap all around costs mean higher profits from mining operations. Look at the non-Chinese pools distribution for the past 3 months... Slush - about 6.16% of the network Kano - about 2.35% of the network Eligius - about 0.12% Bitminter - about 0.12% Believe me, if I were running a pool for profit, I'd have closed it down a long time ago |
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