Bitcoin Forum
June 24, 2024, 08:40:06 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Pools / Re: [P2Pool AU Node]Norgz Pool BTC 0% fee Matt's Relay on: December 17, 2014, 05:45:09 AM
Hi guys, new to the whole bitcoin scene and stumbled upon this pool.

Currently mining using GUIMiner and mining at 32ish MHash/s. I have a couple of questions:

What are shares? Mine is currently showing 10 shares accepted

How and when do I get my bitcoins?

If anyone could give me an answer, that would be great. Sorry, total noooob here.
Hi smoothfreeze, First of all you are not going to get a valid p2pool share on the sharechain with 32mh/s. you need around 1th/s to get shares that count towards a block.
Essentially there are small "shares" that are sent to you by the node, they contribute to a full share on the sharechain but you need to get a share before the next block comes and that share needs to stay valid until the block comes or it can drop off the sharechain.

In a nutshell it's a block broken up into a bunch of tiny bits, when you mine direct to bitcoin you must solve a whole block to get paid but on a pool, any pool, you mine shares and then you get a certain number of shares in the block based on your hashing power. each miner in a pool mines together to increase the chances of getting a block.

Aah, okay. So I was looking around the forum and I'm considering on purchasing this https://bitcointalk.org/index.php?topic=555471, a USB powered miner. Is this good enough for mining?
2  Bitcoin / Pools / Re: [P2Pool AU Node]Norgz Pool BTC 0% fee Matt's Relay on: December 17, 2014, 05:30:53 AM
Hi guys, new to the whole bitcoin scene and stumbled upon this pool.

Currently mining using GUIMiner on my laptop and mining at 32ish MHash/s (this is slow, right?). I have a couple of questions:

What are shares? Mine is currently showing 10 shares accepted

How and when do I get my bitcoins?

How do I keep track of the transactions?

Will mining on my laptop fry it?

If anyone could give me an answer, that would be great. Sorry, total noooob here.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!