So this might be a dumb question, but do all 3 servers start new rounds whenever a share is found in any one of them? Or is each server basically acting like its own pool, each having its own rounds?
I ask because that will affect average time for a round to finish. Obviously if all 3 are pooled togehter, you'll find blocks 3x faster, albeit with lower payouts.
Rewards are combined between the 3 pool servers. This is the exact same as running on a single large pool, I've just split it across multiple datacenters in order to provide members with the option to manually point to a closer server.
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The point is that there is no motive for it.
You really don't think there are some powerful people out there that might have a motive to destroy a decentralized currency? I would say that's a bit naive. The larger Bitcoin grows, the more motive these people have. |
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So you are just experiencing variance. BTCGuild had better luck than deepbit over the past few days.
The real difference is when you pay less fee.
All things equal (except size which only affects variance), over time, you will earn more Bitcoins in pools where you pay less fee.
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PS, this is with fees and donations calculated in, so that isn't it.
How much are you donating at BTCGuild? |
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Yeah, I'm sure the vast majority of Bitcoin users are mining/investing out of the goodness of their heart and not for profit.
Also, telling people what to do usually doesn't work. You can preach all you want but at the end of the day if the system is that susceptible to disruption and can be breached that easily, then those flaws should be addressed internally.
Telling people not to use a specific pooling service is like putting a band-aid on a cancerous tumor.
Oh my... I never said anyone was doing anything out of the goodness of their heart. I said "if you want to make money", I don't know why you are intentionally misinterpreting what I say. I'm not telling anyone to do anything. I'm pointing out what I see as a problem. You can ignore it if you want. |
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Except no one is centralizing anything. If everyone wants to go to a specific pool and no one is forcing them, they should be allowed to do so.
They are indeed centralizing the network. They should be allowed and they are allowed to mine wherever they want. Why are you so argumentative? We aren't suggesting rules! We are suggesting people promote a healthy network for their own good. Ignore it if you want. If something bad happens because of the centralization of the Bitcoin network and investors stop buying, don't complain that there was nothing that could be done. |
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That's kind of a flawed analogy, since someone eating 3 pizzas and 2 fried chickens along with 4 pounds of bacon is only hurting his own health. I personally wouldn't do it, but I also wouldn't tell other people how to live their lives.
But for the sake of argument, assume everyone continues to mine on deepbit, and it grows past 50% of the share. Then what? Do we blame it on deepbit or do we go back to the drawing board and scrap the current algorithm? If there is a flaw in the system, we should break it and fix it instead of acknowledging that it exists and telling people what to do to circumvent it.
And if you want to make money with Bitcoin, you are hurting yourself by ignoring network health, if something happens partially because of your ignorance. As I said, Bitcoin isn't perfect. Mining was originally done on CPUs by individuals. Then GPU mining came about because it was faster. Then pooled mining came about because it reduced variance. And here we are today. The flaw in the system is that someone with enough dishonest hashing power can disrupt the system. The network can ignore the dishonest fork and continue on. The system won't break. But people may consider Bitcoin to be untrustworthy if such a disruption is easy to achieve. Condensing a majority of the mining power into one pool is a step in the direction of making that easier. The fix is voluntary: don't condense honest mining power. Until someone creates an impenetrable system (good luck) we use the best we have. We can either make the system more impenetrable or less impenetrable, it's up to the users. I'm suggesting the users work towards making the system more impenetrable. If you want to ignore that, or wait for a perfect system, that is your choice. |
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Who's asking for artificial regulations? We are asking for self-regulation.
You don't eat 3 pizzas, 2 fried chickens, and 4 pounds of bacon a day because you can, do you? That would be insanely bad for your health.
Bitcoin is not perfect. Nothing is. It's damn good though.
People who care about the security of the network will choose to regulate themselves to promote a healthy network.
No one is calling for imposed artificial regulations. And if they were, I would argue with them the same as I do with people who mine on deepbit.
I'm trying to let people know that there is a better way and hoping they will choose correctly.
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i've recently switched to BTCguild to try it out
currenty i'm seeing "this round shares" are not counting although total shares are being incremented this is very worry-some tbh
if 'this round shares' are not counting how can I be sure i'll be getting paid on all those submitted shares?!
Look at the main BTCGuild thread. The operator has acknowledged the issue and will fix it as soon as he can. It does not affect your payout, simply the stats on the website. |
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Swimmer: "Oh I get it!, Ghostbusters go after those LAUNDERERS and DRUG PEDDLERS at least we can LITIGATE .... THEM!"  Yes, that indeed makes sense. Sometimes that isn't how it works though. People use guns to murder others. Government outlaws guns.  The tool is often demonized and banned because of how evil people use it. In the process a lot of lawful citizens become outlaws, or abandon the tool (loss for society). EDIT: This really has nothing to do with the thread, and I think the interview was fine. Again, people are confusing Bitcoin exchanges with the Bitcoin network. |
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True, but the only way to get these folks to turn into marathon runners is to show them consistent success and tangible results.
they see $$$, they will be more likely to talk about it to friend/family buy rigs ect.
Well, it's hard to show anyone consistent success and tangible results when the market is so volatile!  Bitcoins are indeed a high risk investment. |
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Don't blame people for trying to make money, it is a bad economy. Any currency or "economy" needs to be able to withstand the smash and grab approach, in order for it to be taken at full merit.
I don't blame anyone for trying to make money. I think most people are short sighted when it comes to mining, which is a marathon, not a sprint. |
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when i started with mining deepbit was one and only pool with open registrations so thanks, i will stick to tycho
so far all things about double spending are more conspiracy theories than actual, immediate danger
as for these threads - they are all whining from people that are here for week or two, instead of doing some work, making few screenshots, summing up all pros and cons of all available pools, showing fees and pps options available, they have one thing and one thing only - let's ddos tycho's pool for "greater good"
there is plenty that can be done IF one really want to help spread computing power more evenly, but it seems that we have script kids invasion that just want to fire loic for lulz
OK. Mine where you like. I've posted in pretty much all of those threads and never whined or suggested DDOS. On any public forum you have to wade through some B.S. to get any decent information. There is plenty that can be done if you really wanted to help spread the computing power more evenly, but I guess you aren't concerned. That's OK. I'll keep being concerned if that's alright with you. |
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I love how every member who is likely holding large number of btc already always says more miner is good when we dont' need more power to secure network in any way right now. All pure nonsense powered by greed to raise the price in a bubble like fashion as fast as possible. We don't need more hashing power to secure right now and we haven't needed more for quite some time.
Don't assume things about people, it makes you look silly. Can you tell me how much hashing power is enough to secure a 200,000,000 dollar(USD) market? Do you know how much an attack would cost right now? What percentage of the market does the attack cost? I love how miners who are motivated by their petty greed don't want to see more hashing power come into the network and compete with them. |
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The bug isn't affecting your payout, just the display. The BTCGuild has had some long rounds. It's called variance.
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1) Provide security to the network, which you possibly threaten if you're in DeepBit.
FTFY 2) Make a profit off of it, lol 3% fee.
I agree but other pools have stale shares, downtime, weird score formulas, longer payouts, etc... each has it's own strong points. Nah, he was correct the first time. 2. To be a source of danger to Regardless if an attack occurs, mining in deepbit increases the ease of such an attack and is dangerous for the network. You buckle your seat belt when you drive, because you don't want to threaten your safety by not buckling it. You may never be involved in a wreck, but you take precautions against danger in case you are. |
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You should be in a pool. The lower the pools fee, the more Bitcoins you will earn. There is a guide at the top of the forums here.
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I agree with you Steve.
Many miners here get angry when new miners come into the network. They aren't concerned about Bitcoin security (look at the size of deepbit), they are concerned with making a quick buck. I'm sure a majority of miners don't even hold Bitcoins, they cash to fiat ASAP.
In the long run, we want intelligent, efficient, stable, distributed miners that are concerned with keeping the Bitcoin network secure. As long as the Bitcoin exchange rate is volatile (and increasing) we will get miners that don't understand what they are doing, and are concerned only about short term profits (ignoring what is best for the network and long term growth).
Hopefully none of this matters and the Bitcoin network will grow large and robust regardless. Hopefully the new miners will learn more about the way things work and dedicate themselves to Bitcoin's success.
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CPU mining is extremely difficult now. We use AMD GPUs to mine Bitcoins and most people do it in a pool. There is a guide at the top of the forums here.
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MtGox had a day where 1 million USD worth of Bitcoins were sold, then a day where over 2 million USD worth of Bitcoins were sold. Do you think they would be able do that kind of volume if they were scamming people? Maybe, but they would have to be damn good at scamming.
There are delays, apparently they don't have enough manpower to keep up with the demand for Bitcoin.
Also, there are other ways to sell Bitcoins. MtGox is just one exchange.
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