The pool reward is pps so blocks are not necessarily paid at a 10% loss based on luck. PPLNS would be that way.
So when the pool is lucky it breaks even. When the pool is unlucky or has even luck it takes a loss. Over time it takes a massive loss. Several PPS pools went bankrupt in the past, even when charging fees. If they have a trick or they think they have a trick to stay ahead of luck then it works until it falls apart and in the mean time I am happy with these rewards.
It's not illegal or a scam to throw away hundreds of bitcoins and pay miners too much. That's a whole different discusison. I've only heard of one pool doing something like this before, and they were "investing" the coins in a ponzi scheme. Asking questions here is not "stupid questions". Noone is a "complete noob idiot" for asking questions in a situation like this. "A trick", "business structure" or "rewards in the blocks we solve" makes absolutely no sense. It sounds like a scammer talking. |
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Hey doc, is there a way to change my username on this forum to match my bitminer13 username on bitminter?
I don't know if it's possible to change the username on this forum. yessss nice green block with my name on it !!!!  Congrats  Is the luck page broken now?
Using Chrome it doesn't display.
Works fine on Chrome for me. Could you try disabling plugins and see if that fixes it? There are some plugins that break webpages. |
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What makes you think he is running on a 10% loss, I suggest you do a little more research into pools management, maybe take a class or two if you can find one, or just call s0br maybe if you ask nicely he will share with you how to profitably run a pool without scamming and unethically screwing your members.
If instead of charging a fee you pay out a 10% bonus then you are running at a 10% loss. Ask yourself, how can a pool consistently over pay it's miners?
Actually there is a trick and I know it and I bet the rest of the loyal BaN members have figured it out as well. if you have a business structure like s0br has set up, you can pay bonuses and still make a wonderfully nice profit. You just have to be smarter than the keyboard you are typing on. In your case you clearly lack this skill.
There is no trick with a mining operation on its own. Maybe he has a side business that runs with a profit. But if the mining operatiion pays out 10% more than what comes in, then it's running at a 10% loss. If you are paying someone 11 BTC to mine 10 BTC for you then you are losing bitcoins fast. Where is that payment coming from?
Very simple from the rewards in the Blocks we solve DAAAH
So when a block is created and the pool gets 25 BTC it pays out 27.5 BTC from those 25 BTC. That makes sense. |
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If you want the best you can't go wrong with Bitminter
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Apologies that the live hashrates fell out for a minute. I was tweaking the machinery a bit.
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Have you had a chance to look at the new USB U3s
Not yet. I guess it's not compatible with U1 and U2 ? |
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Hey Doc did anything change on US2?
- Starting difficulty 16 (was 4) - Minimum difficulty 4 (was 2) PM me any errors and I'll look into it. |
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Dear i want some Help , i am new user in bitminter , i am mining within 1 week , i have a 2Th/s ASIC Miner , i set my worker Minimum difficulty :1024 and run 24 H my miner , after 24 Hr or above i received Payment 0.02413243 BTC or around etc.
i want to more work for good income ,
plz tel me best way for good work i don't know about more mining ,
I replied to your email. Let me know if you need any more help. |
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Anyone have other suggestions?
Eleuthria +1 |
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It's sad to see BTC Guild will be shut down or sold.
It feels like an era is nearing the end. Of all the 2011 mining pools only a handful remain at this time. Maybe I'm just being nostalgic, but it feels like
some of the new pools and even new miners are increasingly motivated by greed and know and care less and less about Bitcoin.
I hope you'll still be a part of the community. Perhaps we will see another Bitcoin-related project from you in the future.
Thanks for recommending Bitminter.
Being in competition with BTC Guild wasn't easy. But it was always a competition of gentlemen.
Thank you for playing fair and honest. Thanks for being responsible when BTC Guild got too much of the global hashrate. Thanks for caring about Bitcoin and the community.
BTC Guild is a huge success and something you can always be proud of.
I tip my hat to you, sir.
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Maintenance completed as planned.
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Reminder: quick maintenance run coming up in 20 minutes. Miners will be disconnected for a moment.
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And watch the Shift section randomly remove proofs of work for me. It'll go up to say 5534, then a second later back tick to 5498.
Like it says on the top of the page the updates multiple times per second are extrapolations. Real numbers are updated once per minute. This means that if your hashrate drops, as an update from the server comes in your accepted number can go down. Extrapolation was too high. If your hashrate increases, as a server update comes in your accepted number will suddenly jump up. Extrapolation was too low. |
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If you have the line gen=1 in your .conf file, then you will start confirming transactions when you open the wallet. If you are using Windows, the Task Manager will show if you are using CPU resources.
Only do this if you are willing to mine on average 500 000 years to find a block. |
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This is a thread about mining pools.
Advertisements and non-mining pool info should be posted somewhere else.
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Please nobody smack me in the head with this question, I'm quiet new to the whole bitcoin thingy, so to be able to mine coins, first of all I need to buy an external hardware that I need to plug into the computer, then after that I use the bitminter client right? because just now i've registered and downloaded the client, then hit "start engine" and I was a bit lost after that it said to me "no devices found" which is why I came here to ask this. also tried downloading another program bfgminer from another site Yeah, you need specialized (ASIC) bitcoin mining hardware. CPU mining ended in 2011 and GPU mining in 2013. You'd earn less than you pay for the electricity and it would be so slow that you never even earn enough to reach the minimum cash out limit. So people only mine with ASICs now. Bitminter client only supports a few ASIC models. Check the first page of this thread for a list. Best profitability is with big ASIC machines (low price per GH/s). Those are standalone machines that you don't need a PC for at all, so no need for Bitminter client. Configure them with a web browser, then you can switch your PC off. |
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Good payouts last 2 weeks, low payouts last 2 days. This is normal. Mining results vary with luck.
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Must... leave it... be...
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Looks like good old DDoS attacks are back.
Some users got blocked along with the attacker as DDoS filtering kicked in.
Should be back to normal again now.
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There was a few seconds outage on the main server (mint.bitminter.com) about an hour ago. It was barely long enough for the pool hashrate to drop a bit and go back up.
It looks like it's having some problems again now. I'm looking into it right now.
The second server, us2.bitminter.com:3333 is running normally.
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