what do you think its worth? I sell it for 1.2 BTC or probably its the best to heat my living room with it.
better suggestions welcome.
difficulty will soon go up
Joerg

Dear Doc

Nothing is wrong with the pool.
the time to change the rules is when we at 0.45 (organofcorti s blog) luck index.
Yes its true: We can dive to 3.9 at the very same index.

But this is basic knowledge and no reason to change.

Dont get nervous.

joerg

PS anybody interested in a 570GH KNC Jupiter october batch in the EU for 1.5 BTC ?

Hello everyone

If you not believe in a long term growth of the bitcoin it makes no sense to invest in mining. you might be better off if you go to a casino and bet everything on red or black you have.
Whatever GH/W ratio you have it is only a matter of time till it makes no profit because of the electricity bill.

But mining is not dead. we just have to wait till the big guys feel the heat and the difficulty level will decrease and our miners will be profitable again.

The whole question of success or defeat is about to establish bitcoin as a method of payment instead of hoarding and speculating for a higher price.

Work for the acceptance of the coin is the key for a profit with mining.

We not only need more Gigahashs we need a broader audience to spend bitcoins and not only collect them.

best regards
Joerg

Hi Miramoto

I think it is normal. It is the absolute hashpower of the pool is growing, so your share is going down because its stable. As the time of 1 shift is decreased by the growing hashrate of the pool your relative share is decreasing.
This is nothing to worry about because the growing hashpower of the pool makes it more likely to find a block.
on the other hand increased difficulty with is a result of the growing hashpower of the whole bitcoin community will reduce your share anyway as long as you not add equal groth to your hashpower.
best regards
joerg

Im not a native english speaker, may be I have to clarify.

What I mean is, that the best way to make our bitcoin investement a succsess is to attract people into it.

The discussion I saw recently here is doing the opposite.

Thats what I mean.

the technical question of how an attack on mining pools could occur and how to counter it should be done between pool operators and technicians/coders on a seperate issue and not done in a relatively open forum. It drives people away from bitcoin.

I believe that the bitcoin is a good investement because it will attract people with its unique features.

And as it is in the meantime a multi billion industry it is in the interest of all people involved to protect the system.

If someone work to destroy the confidence of the community in bitcoin and in that way destroying your investement, Goldman Sachs,Deutsche Bank, HSBC should be the suspects.

Joerg

Hello everybody

Im surprised that the recent discussion about multipool and the possibility of a share witholding attack
is fought like a battle without real clue.

I start mining with a block erupter in November 2013 and increased hash power with 4 more block erupters, a 8 GH Jalapeno and recently with a KNC Jupiter. All this equipment I bought used.

Since November I didnt solve a block with my small hash power, but earned about 1.2 BTC on Bitminter.

I have not the knowledge and technical abilities to check my miners if they are doing things like that or not.

But I think that this witholding shares attacks are performed fully unintentional because they are creating a loose lossse situation for the miner, the pool operator and the attacker.

So lets go back to the pollite and helpfull features of this forum and dont blame people for completely unproven and unlikely things.

lets hope for another good run of easy find blocks and if you really seeing in every co miner a competitor instead of a colleague you are ready for a solo mining career.

Keep the forum clean of this unproven conspiracy theories or found your own bitcoin sect.

I like bitminter and its pool operator particular for its helpfull attitude towards even the strangest questions. As long as it is newbie friendly it will attract new people. Keep it like this.
Calm Down
Joerg

Quote
To experienced miners: yes, it is true, fewer and fewer people are mining. Mining is becoming more and more centralized. Small miners give up when their hashpower becomes insignificant and buying significant hashpower is out of their budgets. It is an unfortunate development. This may be important for the future of bitcoin.
Dr Haribo
Unqote

Dear Doc
Im mining since November 13 in your pool and read almost every post in the forum since. Even I dont understand everything I read I understood that this is a great and very helpful forum and you are taking every effort to keep it as friendly and helpfull as you can.

Thanks for that, I will stay mining with bitminter for that.

Here are some of my thoughts on the future of mining:


At the current grow rate bitcoin mining kills it itself with a rat race for hashrate and watts.
In a very foreseeable future it will be unprofitable, even for somebody paying 6c/KWh.

In my opinion the future of mining lays in the spread of specialised computers hosting a blockchain and a wallet and a miner ( say a blockerupter 335 MHs ).

If all bitcoin users would install this into their equipment the system would function self sufficient and the costs and rewards would be distributed evenly among the community.

This would create a rat race between major computer companies to give the most reward to their customers.

And the rat race starts again.

So enjoy to make money, but dont forget that everything earned on one is a loss for someone else.

I think that the real charme of bitcoin is a anarchistic one. I like it.

Joerg