Ok, I get it now. This post was actually a copy-paste of this post. So yeah, probably spam. It's good to have friends. |
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Pretty sure this is spam. Who advertises iPad cases in their sig?
Would a spammer make a question that specific? That seems a bit to good for someone who's job was writing a post that wouldn't get deleted. Did mod remove links? Yes, I removed the link. I'm not deleting the post because it's still a valid question. Was that really in order? People advertise their services in signatures. They should be bitcoin- related or accepting, but it's the person's first post, give them a break. |
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I am under the impression that many people here consider single bitcoins as nothing.
A single bitcoin goes for about $7, how is that nothing? Nothing wrong with donating, but TBH I can think of some worthier causes than you. Unrelated question folks,
I just received my first donation of 1BTC (THANK YOU SO MUCH!)
But when I click the transaction in my wallet program,
it says "From: Unknown."
Uhh... is this on purpose by the sender, wishing to be noble?
Is there something I need to do to see sending addresses?
You're not supposed to know who sent bitcoins. You can find out which address(es) it came from in block explorer, but there's no guarantee the sender even controls that address. You can make it work if you warn people to make sure they indeed control the sending address. Usually, Distinguishing senders is achieved by giving a different receiving address to each. If the community all gives a tiny bit toward getting another heavy miner up and running,
and is repaid for their generosity, it benefits the entire community,
Mining is a very small positive externality, partly because the increase in the difficulty will discourage other people from mining. It's not really a very worthy cause for soliciting donations. If you were under the impression that getting more people to mine is currently an important goal for Bitcoin development, you got it wrong. A 20% return can be attractive, if you can convince that you are actually willing and able to make good on the promise. |
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Welcome to Bitcoin.
A transaction is only valid if it's either a block generation reward or its input references unspent outputs. So you can't make them out of thin air.
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I love bitcoins, I have barely slept in 3 days.
Ok, his story checks out  |
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2. The original bitcoin client won't send to invalid addresses.
Isn't every address of sufficient length valid, even though no one actually owns it (yet)? No. You will note that if you go to the "send coins" interface and make a small change to the address, the client will notice this is not a valid address. I think this has something to do with the Base 58 encoding. |
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Honestly, I'm not surprised.
Do you have an exchange fee?
Yes, I have a fixed fee, and my rates embody a certain percentage fee relative to the mtgox rates. Right now I sell with 7% fee and buy with 0% fee. |
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Thanks to both of you for the quick answers. One final question and I'm done for the night.
Theymos talks about the node resetting the nonce. kjj talks about the node making changes in the merkle root and possibly the timestamp. Are you both talking about the same thing? Merkle root nonces? I thought that a miner was playing with the nonce itself to get a block. Is my inderstanding incorrect.
Thanks again, and I promise I'm done for the night.
I may come back with more newbie questions tomorrow, though.
The miner plays with the nonce to get a block, up to a point. Since nonce is a 32-bit integer which only allows for 4B values, eventually it will need to ask the server (whether locally or on a pool) for a new merkle root to work on (where things like the extra nonce have been changed). |
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My rule is generally to use my real name if it's common in the community. Looks like it's going to be more common here, so I'll bite.
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(unless the block becomes invalid, which isn't very common)
There were actually quite a few in the past 24 hours. Since I've only been doing this for a week or so and am not sure exactly what that means, it has me worried at bit; One of my GPU's is overclocked quite a bit and I'm worried it's causing invalid results to be sent to the pool, would that cause an invalid block? It seems the invalid blocks only occur during the times I participated, could that mean I caused the block to be lost for everyone by mistake? No. If your GPU spews out something invalid the program will reject it, and even if not, the pool will reject it (one of the key features of hashing is that it is easy to verify, so the pool will just reject anything sent to it that is not 100% kosher). I know about the invalid blocks recently, they're probably a result of some technical issue on slush's end which should be resolved shortly. |
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slush uses the score-based payout method described here. You will know how much you made before the blocks mature (unless the block becomes invalid, which isn't very common), but you will get it only after it matures (until then it will be "unconfirmed reward", but will not change). Deepbit's PPS rates drop because difficulty increases. This will cause an equivalent drop in the payouts of all pools. Deepbit's PPS calculates rates based on a 10% fee. slush's main advantage over deepbit's proportional is that it is more resistant to pool-hopping. |
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If you have no time for bitcoin, why you don't go for c4c ? i think it better for you.
Last time I checked, c4c took 50% fee, so to reduce variance it's better to use deepbit's PPS which only takes 10% fee. |
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Hi, Since bitcoins have been pretty volatile lately, I have changed the pricing of my 1 BTC Hosting package to donation based. Details on the site here: http://1btchost.com/dM Yeah, it was on my to-do list to ask you what are your plans for the present when "1 BTC/mo" is no longer impressively cheap. I totally get that the overhead of managing payments could be your most significant cost for this service. I hope you won't lose on this service. |
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I was going to bitch about the fact that this frequently asked question is not answered in the FAQ. And then it hit me that it would be more proactive to just answer the damn question. |
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On average, how much is each share worth? Does this sort of statistic even make sense or does it change too much in time?
Every share is worth on average the block reward divided by the difficulty. So if the reward (minus fee) is 49BTC and difficulty is 244139, we're talking about 0.0002 BTC which is 200 uBTC. And, while we're on the subject, every 4.3 billion hashes will give you on average one share. What most people do though is use a calculator like this and just look at the 50% rate to get an idea of what you'd make per day:
You should use the "Average" rate, not the "50%" rate. if not by the program, then by user. There is "Current shares CFD:" in stat, i think users must know how big is block, so they can choose go out and wait for next round or not. Why not make some kind of alerts like 'warning: block is large'?
You're half right, but on reverse. Deepbit uses a payout method called "proportional" which is unfair for people who stay in long rounds. Users of the pool can quit when the round is too long, and this is called the "pool-hopping" cheat (and hiding recent pool statistics is one technique used to prevent it). On the other hand, slush's pool is resilient against this cheat, and martok's is immune. |
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- How could this be detected if at all and how long such practice could continue undetected.
If in the long run hoping starts harming pools, I can foresee serious pools moving towards a closed registration system based on peer vouching while the OCN type of crowd would cater to the then overly exploited public pools. If in the long run hopping starts harming pools, I can foresee serious pools moving towards a cheat-proof scoring method. |
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It appears that most pools have implemented various anti 'pool hopping' defences which are usually delayed stats and threat of banning abusers.
Therefore here are a few simple questions for you.
- What would prevent a pool operator and/or his agents to do pool hopping themselves?
- How could this be detected if at all and how long such practice could continue undetected.
- How much wealth such kind of cheating would potentially transfer from pool users to a pool operator?
This is one more reason why people should use a hopping-proof pool, like martok's continuum. Even operators can't hop with it (they can outright lie about statistics and steal rewards from participants, but I think that's a separate issue, solvable by providing the right info). In the limit, participants get only 70% of their expected reward, and hoppers (who exploit one pool) get 126% I think. When there is an unlimited number of proportional pools and the cheater knows exactly the status of each, he can increase his reward x12 with the current difficulty. ...and the other pools wouldn't have miners at all in the first place!  Unless the cheater is big enough to go solo, hopping consists in going to hopping-proof pools when there are no fresh proportional pools to exploit. |
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I guess I just have to write a "meta pool" to try out pool hopping myself... In the end this could be even offered as a service  I guess if everybody would do it, in the end it would even out again anyways + I guess you also loose a bit of hashing power on the way from pool to pool, so if it would be done on a large scale, it might even give worse results. If everybody did it, all proportional pools would freeze once they get to 43.5% difficulty. |
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4) Lastly, having a score based pool is better than a share based pool because it defends against pool hoppers.
In a score based pool in theory "reverse pool hopping" would be possible, right? Don't hop in as early as possible, hop in when the pool takes already longer than expected to find a block. No. 4) Lastly, having a score based pool is better than a share based pool because it defends against pool hoppers. This is even more important if your pool is small (less than 10% of the network)
Actually, big pools are more vulnerable to hopping (at least for some easy implementations). Keep in mind that your reward will be the same on every pool in the long run, minus fee.
And minus what pool-hoppers take from you, if they exist. |
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there's really no one perfect way to pick a pool, all i can really say is, try to pick a pool and stick with it. you cant bounce around 5 pools in two days and compare notes on payout and variance.
You can't compare payouts in such a short time period. dont know if that was directed at me, or confirming to OP on what i said, because thats pretty much what i said. Very sorry, I seem to have missed a 't' in your post... Deleted my comment. |
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