Once all wallets are SegWit ready, would we see a dramatic change in tx fees or do we still have to depend on miners not shifting large amounts of hashing power between BCC and BTC? This looks like a bigger problem than Block sizes at the moment. The bigger block size or more effective use of blocks, just delay the inevitable outcome <congestion> when miners swap to more profitable chains.
How can we reduce this impact, when miners act in this way, other than adding more hashing power from other sources? Miners will follow the most profitable chain.
If miners spend 25% of their time mining BCH indefinitely then bitcoin difficulty will drop by 25%. This will go some way towards alleviating delays associated with them switching to it. Yes transactions will be slower while they're on BCH but not as slow as now and then transactions will be faster once they switch back. Of course this will only be while BCH has any perceived value, and this mining rush on it should make people aware what it really should be worth... As for segwit I expect quite a lot will switch to segwit addresses and transactions in time and we'll see maybe a doubling of transaction throughput long term from segwit activation alone. That's not enough to save us indefinitely. |
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Yes, but if a block is "accepted" via normal solo mining, then that means you found A solution to the actual block. On ckpool, your submissions are "accepted" but are not necessarily actual solutions to the block. Or at least that's per your communication.
Your understanding is the same as mine and appears correct. CKsolo functions like all pools do, in that it "accepts" shares regardless of if they are greater than network difficulty, and like I mentioned (and CK is quoted above) this is shown as feedback so you can see your miner working. You could set the vardiff to equal network difficulty, then you would only see an accepted share if it had the potential to be a block solve. Additionally a lot of drivers internally use the share counter to give you the hashrate of the device and if no shares are ever accepted they won't display a meaningful hashrate. Shares mean "your share of the block reward" on a regular pool but they do not mean that on this pool since only the block finder gets the block reward (minus my fee.) |
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There's virtually nothing left to do in the mining client space, only improved drivers for existing hardware and drivers for new hardware. As the vast majority of drivers are now maintained by the hardware manufacturers themselves now, and the biggest manufacturer (Bitmain) don't contribute code back to the master cgminer code, that means there really is nothing to do for them. |
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Can i ask a question, i don't know if its ok to you that i posted here.
But i just want to ask if KanoCkpool.com is a legit cloud mining site?
Thankyou.
Never heard of it. Quite sure it'll be a scam, like most cloud mining is. |
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I love it when a plan comes together...
I used to hear this from the movie .... or TV series. I think we both are old  I knew someone would get the reference  |
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Freaking expensive. Forget it.
So Every country doing mining except for australia ?  Even with the cheapest off peak electricity domestic rates you're only barely breaking even with what you mine. The only way to make it affordable is to use the excess heat to warm your house which then ends up being profitable; modern mining hardware is extremely loud though so you probably wouldn't tolerate them in your house anyway. Unless you can get commercial rates for electricity, or produce your own through solar, wind etc., it is basically futile (having mined on and off in Australia for 6 years now.) The only other way is to mine at a loss and hope bitcoin keeps rising to offset your earlier losses, in which case it makes more sense to just convert dollars into bitcoin now and HODL. |
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Why is it impossible? All big pools are well connected but one of them might be just slightly better connected then the others.
Moreover selfish mining even increases your relative share of blocks if you have a poor connectivity to the network but a minig power of about 33%.
No such thing. Once the data has left the miner it propagates across the internet at the same rate these days. That's like saying you will shoot a missile after someone else shoots one when you see it and it will arrive first, even though they both travel at the same rate. By the time you've seen it it has already travelled some distance, possibly even all the distance to its targets. It takes a maximum of 200ms to get to anywhere on the internet these days except during network outages and connectivity failures. There is latency involved between one bitcoin node receiving a block and propagating it to another bitcoin node, but no miner is only connected to just one node. |
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Is it because bitcoins have had several years of difficulty increases?
Yes, but not only that, it has had difficulty increases based on the hardware that has been mining bitcoin, and that hardware is ALL asics which are 1 million times more efficient than GPUs so the difficulty is 1 million times too high for GPUs to make profits. Mining with a GPU for a year will get you about 2 cents worth of bitcoin in a denomination so small that no pool would even give it to you. |
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Freaking expensive. Forget it.
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It has almost nothing to do with bitcoin cash. Segwit activation is the first step towards adding new features to bitcoin - it doesn't magically speed up all transactions just by being activated. Next all exchanges, wallets and service need to start using segwit transactions for it to actually ease pressure on fees and block sizes. So far only very few segwit transactions have been made as most transactions are still normal transactions and they do not get faster or cheaper just because segwit is activated.
On the other hand what you're currently seeing with fees going up and transactions being delayed is a concerted spam effort coordinated by people trying to make it look like the bitcoin blockchain is congested and needs a controversial 2x upgrade in November which is being pushed by the NYA miners when most of the userbase and developers are against it and will not agree to their threats. It's artificial and does not represent the real economy situation.
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110TH will cover 5 of the current network diffs in about 6 years... Oh look, it's >700TH again, so divided by 7 and it's about 9 months.
So I don't hit 100% payout rate for 6 years <-> 9 months? Ouch. You should know by now I never give optimistic information because I prefer to pessimise and if things are better people are happier (maybe I should give completely unrealistic promises and then more people will join??) The ramp up is an exponential process though in SPLNS so you'll get close to your optimal reward much sooner than the 9 months. |
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Payout goes up and down with current block reward. If you saw it when there were a lot of high fee transactions it will have been a lot higher. Your payout will ramp up to be proportional to your commitment to the pool over 5 network diffs' worth so if you've been mining with us since day zero at the moment and been 3% you'll be 3% of the payout. With SPLNS you ramp up faster than PPLNS but it still takes some time.
Oh ok, thanks for clearing that up. How long is 5 network diffs' worth? Currently at 110T 110TH will cover 5 of the current network diffs in about 6 years... Oh look, it's >700TH again, so divided by 7 and it's about 9 months. |
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Question:
I was watching my payout and I noticed that an hour ago it was higher than it is now. I've been connected steadily since the first block was solved.
Is that normal? It went down from 215k sat to 199k.
So far the numbers it's showing me seem a little under the PPS rates I've been getting elsewhere, but I was hoping maybe if I leave it going a while it'll improve. Right now I'm about 3% of the total pool hashrate, I thought the way the payouts worked is if it happened to magically get solved right now, I'd get basically 3% of the block reward. No? Now it seems like I misunderstood.
Here's my payout address, if that helps 1DFdEQfrScwmnaC1oYnqvwri6esN89dNCB
Payout goes up and down with current block reward. If you saw it when there were a lot of high fee transactions it will have been a lot higher. Your payout will ramp up to be proportional to your commitment to the pool over 5 network diffs' worth so if you've been mining with us since day zero at the moment and been 3% you'll be 3% of the payout. With SPLNS you ramp up faster than PPLNS but it still takes some time. |
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Wow i forgot about that address, yup its in there and i got paid, NICE, TY -ck I love it when a plan comes together... |
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You could always try stuffing Butters in a dress and making him dance around to bring in new miners.  I'm pretty sure that will work, that's Marketing 101 right there. Now you're talking sensible options for expanding the pool right there. |
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