Guys using pool btc calculator http://tradebtc.net/bitcalc.php i entered 4ths and i got this Your Average 1diff Shares per Minute: 55,879.3545 shares/min does that means 4ths power has 55,879 in 47,610,564,513 (current difficutly) chances a minute to find a block of bitcoins?All shares submitted does is shows the pool you are working to solve the block. The number submitted has to do with the difficulty you are mining to the pool at. It has nothing to do with the odds of solving a block.
Yes it does mean that. That's the correlation between diff and shares. Each 1 diff share has 1 in 47billion chance of finding a block. It might just be me but it doesn't seem that far fetched for a 300ghs machine submiting 4,190.9516 shares/min to have a decent chance at finding a block. another question if the difficulty is 47 billion is there in turn 47 billion diffrent shares? or is every share a random number that just appears after it is hashed? say i hash 1 share and it is 30,230 can someone else find the same 30,230 share or is there only one until the block is solved? LOL... You have a far different definition of decent chance than I do. Anyway, to answer your question about shares, miners can submit the same difficulty share many times. |
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So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?
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Someone posted Meni's pool analysis document again recently in the p2pool thread. https://bitcoil.co.il/pool_analysis.pdfAlthough not all of it is gospel, there is an interesting calculation in the appendix that people mining here should take note of (of course directly related to what I've said before) If a PPS pool charges a 5% fee, and at any point in time, (only) has a reserve of 250BTC, then the chance of eventual bankruptcy is ... ~81.9% without paying BTC into the pool by the operator. To have the chance of eventual bankruptcy to be 0.1% on a PPS pool charging a 5% fee, requires a reserve of ... ~1727 BTC Important to note of course those numbers are if the pool is charging a 5% fee. ... not a 0% fee ... or even a -1% (a 1% bonus) as is the case here. (N.B. I updated the numbers above for 25BTC since the original doc is back when the block reward was 50BTC) I wonder if s0br has any idea at all about any of this. Don't forget that the pool paid a 10-12% bonus for a long time. The only way it didn't BK the pool right away is the pool controlled a very large amount of the hash (and the pool op was putting addition capital in as needed) but at times a large portion of that hash was in the form of rentals at a high rate, which had to burn thru coins as well. Again if this was only going to be a short term issue until the pool got used for another venture that would make the money, as we were lead to believe, I could understand it better. But the way its gone it seems this pool is doomed no matter what happens now.
This is precisely what I and many others have been saying since the pool started. The model is completely unsustainable. You are always reliant upon the pool operator to contribute coins from his own pocket, and when the pool operator decides to stop contributing those coins you stop getting paid. Look at the numbers Kano posted. At a 5% fee you need about 1727 coins in reserve to have a pretty good chance of avoiding bankruptcy. This pool is doomed. Always has been. |
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The question as asked can't be done; however, change the last bit from keeping the block for yourself to not submitting the solution at all and you've just described a block withholding attack.
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Your best bet is to export and then import the private keys into the other wallet if the app allows it. However that process will give the new wallet access to all of the coins of the address you imported.
If you just want to transfer some coins then you send them to yourself. I'm sorry you don't like the transaction fees but that's how the process works. Bitcoin has no knowledge that the addresses in the Windows wallet and the addresses in the android wallet are owned by you, so your analogy of paying a dime to take money from your wallet to put it in your pocket is invalid.
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few more questions : what is a block : ? how do we get blocks : ?? suppose i want to launch my own coin, how do i provide blocks : ?? where do i get the block from to provide that to the pool :  the best algo for coin : ?? how do i make a pool : ?? thank you A block is a collection of transactions that have been verified by a miner. For BTC you get blocks by mining. To create your own coin you write code. You can start with an existing coin and modify its source to your liking or you can devise your own brand new one. Once you've created your coin you need to create the genesis block. That block is the starting point onto which all other blocks are added. The best algorithm is very subjective. Bitcoin uses double SHA256. Litecoin uses scrypt. Dark (now Dash) uses X11. There are a lot of good choices for pools out there: MPOS, NOMP, etc. Or you could write your own like ck did. |
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All that means is you haven't found a better one yet.
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Im using my alienware and im only getting 58.3 Mhash at the highest. (and btw this is my first time mining.)
Mining BTC with any CPU or GPU is a waste of time and energy. You might want to try some other coin algorithms like X11. |
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Also in your .conf file put the IP address of your S5. For example let's assume it's 10.0.1.25: |
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and how to mine with altcoin and can I transfer from alt to bit boin?
You mine with your GPU or CPU and trade the coins on an exchange for BTC. Good luck. |
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Ahh... I was thinking I wasn't seeing it right  By the way, I've certainly mined in your pool. Currently my gear is on MRR and has been rented pretty much non-stop. When it's not rented its pointed to ck's solo pool. The only gear I've got on p2pool any more are 2 S3s that have been running the long-term test on OgNasty's pool. He was trying to use ckpool for that at some stage. No idea what he ended up doing. (ckpool recently added ipv6 support so maybe that's related to his recent comment?) I'm pretty sure that it's ckpool on top of the p2pool backbone. You connect as BTCADDRESS-PoP to the pool. Every miner submits shares that are tracked just like they would be in a typical ckpool installation; however, they are all being pointed to a single address that mines to p2pool. It's actually a pretty ingenious way to handle variance for the small miners on p2pool. The only downside to it is that you're stuck on his node(s). You can't move to another p2pool node because your miner doesn't individually submit share-chain shares. Currently he's got two nodes running this. One in EU and the other is on the east coast of the US. |
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Ahh... I was thinking I wasn't seeing it right By the way, I've certainly mined in your pool. Currently my gear is on MRR and has been rented pretty much non-stop. When it's not rented its pointed to ck's solo pool. The only gear I've got on p2pool any more are 2 S3s that have been running the long-term test on OgNasty's node. |
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The exception is windpath's node - he scrapes the blockchain data to get the p2pool blocks regardless of whether the share that solved it is on the p2pool share chain. Where's windpath's node? |
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In cases like this last block, you cannot because the share that solved the block was either DOA or orphaned - so it didn't make it onto the p2pool share chain, and hence there's no record of the share itself. That's interesting. I suppose wouldn't be necessary to make it to the P2Pool chain; that'd just slow down the announcement of the found block? No. P2Pool tracks shares, which is how it determines what each miner will be paid when one of those shares is also the solution of the block. In the case of orphaned shares, you add a share to the chain, but a longer chain has already been accepted by the network. Therefore, your share is not added to the share chain and is orphaned. However, because your share also solved the block of Bitcoin, the new block is created and added to the blockchain. Miners are paid (because the generation transaction information is part of the block), but the share itself is not recognized by p2pool. That's why virtually every single p2pool UI out there doesn't show this block - they all base block finds off of accepted p2pool share chain shares. The exception is windpath's node - he scrapes the blockchain data to get the p2pool blocks regardless of whether the share that solved it is on the p2pool share chain. |
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Great. A Block! I also sent some BTC using sendmany. Thank you for the 0.39755 mBTC! Although the block only has 2 transactions… I suppose that's better than the previous block, which only had 1 (the coinbase one)… I just joined P2Pool on 4/5/15 and am pretty pleased. How do we determine the address corresponding to the person in the P2Pool who actually mined this block so we can thank him/her directly? No, it had lots of transactions. If it only had 1 transaction it would be pretty much as bad for bitcoin as the last one. As for thanking them ... well it is completely random finding a block ... and they get thanked by getting a block finder reward by getting a small % of everyone's expected payout from everyone mining on p2pool You looking at something different than I am? Last block found by p2pool was 352654, and that block had only 2 transactions, of which the generation transaction was one... so it's almost just as bad as the last one |
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Great. A Block! I also sent some BTC using sendmany. Thank you for the 0.39755 mBTC! Although the block only has 2 transactions… I suppose that's better than the previous block, which only had 1 (the coinbase one)… I just joined P2Pool on 4/5/15 and am pretty pleased. How do we determine the address corresponding to the person in the P2Pool who actually mined this block so we can thank him/her directly? In cases like this last block, you cannot because the share that solved the block was either DOA or orphaned - so it didn't make it onto the p2pool share chain, and hence there's no record of the share itself. However, if the share that solves the block does make it onto the share chain, then you can see the payout address of the share (I'm just taking a random share here and not one that solved a block): Share data
Timestamp: Sat Apr 18 2015 14:58:23 GMT-0400 (EDT) (1429383503)
Difficulty: 2852459.6919484762
Minimum difficulty: 2852459.6919484762
Payout address: 1Mag5XQcm81yP3rz8qJvXbU1KSWypKmPur
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Just a few small corrections to what Amph wrote. Block halving rate: The more correct answer here is every 210,000 blocks. At a target of 10 minutes per block, this is 4 years. Target timespan in hours: Amph stated every 2 weeks. This is the target for difficulty adjustment. The more correct answer here is every 2016 blocks, the network difficulty is adjusted to normalize the 2016 blocks to 2 weeks. In other words, if 2016 blocks took less than 2 weeks, difficulty goes up. If they took longer than 2 weeks, difficulty goes down. Merkle hash with a timestamp: from the wiki: Once the latest transaction of a coin is buried under enough blocks, fully spent transactions which preceded it can be discarded in order to save disk space. To facilitate this without breaking the block's hash, transactions are hashed in a Merkle tree, with only the root included in the block's hash. Old blocks can then be compacted by stubbing off branches of the tree. The interior hashes need not be stored.
and Upon receiving a new transaction a node must validate it: in particular, check if all transaction's inputs have not been spent yet. To carry out that check the node needs to access the blockchain. Any user, who don't want to trust his network neighbors, should keep a full local copy of the blockchain, because he can't know in advance, which inputs ought to be verified...
A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which are available by querying network nodes until it's apparent that the longest chain has been obtained. Then, get the Merkle branch linking the transaction to the block it is timestamped in.
Hope this helps. block halving rate : the speed at which the block reward halve(every 4 years)
block halving : the diminution of the block reward(now is 25, will be 12.5)
Target spacing in minutes : 10 minutes
Target timespan in hours : every two weeks
Coinbase maturity : 100 confirmations
Genesis block : the first block that start the chain
Merkle hash with a verifiable timestamp : i don't know
Windows Qt binaries : just the qt exe
blockchain explorer : it's the famous site, a decentralize public ledger, it also work as a wallet
Coin parameters : diff retarget, block time, block amount, initial block reward
premine : when a coin is mined before the launch
nodes : ip address to speed up your initial sync
linux server with static IP : well this should be obvious...just a server that run on linux with a ip that don't change over time
CPU mining : mining that utilize processor
GPU mining : mining that utilize graphic card
i will request to please answer in simple english as much as possible. i understand some tech definitions but i would really need a great help understanding in simple english.
Thanks for anyone who will answer
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In other words, this week's numbers are a big fat goose egg. On the bright side, it's the very first week of the test that both NastyP2P and NastyPoP paid exactly the same  . Actually you did earn 0.00028594 BTC mining on NastyPoP last week. NastyPoP miners split the earnings of 300 NastyFans seats as a bonus in addition to mined coins. That amount is currently not terribly exciting, but this does highlight the fact that NastyPoP miners will earn BTC even if p2pool doesn't find any blocks. You're absolutely right about the earnings. When I saw the transaction notification I thought it might have been some faucet payout and didn't even think it would be from NastyPoP seat donations. I'll amend the numbers to reflect the payout. |
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You could always send the balance of the old into a new address in the wallet on the new laptop. Otherwise you'd use the dumpprivkey and importprivkey commands.
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The title of this thread includes "Hop-Proof". While I expect that is really just hyperbole, I wondered what it would mean to be "Hop Proof"? Contracts with the pool members to never use another pool? Kind of like getting married? You're correct. There really is no such thing as a hop-proof pool. As long as you control your hardware, you can point it anywhere you want to mine. PPLNS pools in general discourage hopping, but they certainly don't prevent it. |
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