[ANN][POOL][DOGE][1% FEE] dogecoin.poolgen.com

[freynder]

Hello,

I have been mining with this pool for about a week now and it has been great so far; however, no blocks haven't been found in over a day. Is anything going wrong? did everyone just freak out because of the 1% fee?

Hello,

Nothing is wrong, this is just a combination of difficulty, hashrate and variance. With the current hashrate and difficulty, a block is expected to be found every 18.5 hours on average.  The current round seems to be a long one and we are already waiting for 32 hours for the block. That is just something that happens with low hashrate pools, variance is an important factor. On the other hand, most of the the previous 10 blocks have been found well below the average, so it works both ways. The 1% fee change had relatively little impact on the total hashrate, maybe 10% lower hashrate.

I hope this helps. You can find the same information on the Statistics->Pool and Block pages.

[odin84]

I see. Any chance you could explain to me what variance is? I'm still kinda new. Thanks!

[freynder]

I see. Any chance you could explain to me what variance is? I'm still kinda new. Thanks!

It is a statistics term indicating how far off results are from the average.

[GallawayB]

The 1% fee change had relatively little impact on the total hashrate, maybe 10% lower hashrate.

I hope this helps. You can find the same information on the Statistics->Pool and Block pages.

If the hashrate has been reduced by 10% does that then mean it has effectively reduced our collective ability to mine?

[freynder]

If the hashrate has been reduced by 10% does that then mean it has effectively reduced our collective ability to mine?

No, it just means that blocks are found at a lower rate. The reward is divided amongst less people as well which means it will be higher. Your ability to mine always stays the same, it is relative to your own hash power.

[GallawayB]

Wouldn't finding blocks at a lower rate be detrimental??

Not sure I understand... 

[freynder]

For the same hashrate (yours), you would get less frequent block rewards, but the amount of the reward would be greater, making the total profit long term the same.

[odin84]

Less hashrate means less people which means that we find blocks at a slower rate; however, that also means that when we do find a block, each contributing member gets a bigger piece of the pie (since there are less people to share the profits with).

[GallawayB]

Ah right, ok. Been almost 60 hours since a block find though, is it prudent to change pool? Seems some other people are doing ok.....

[JDMiner]

Hi:


Anyone know when this ends Ultra Super Heavy block ... more than 24 hours and nothing !!! my wallet hungry   

[freynder]

I checked all processes and everything is running fine, so it is just variance. It happens sometimes and is very noticeable on a low hash-rate pool unfortunately.

[GallawayB]

Oh man, 3 days of cloud mining and nothing :/ I've only got a week on it, lol!

[JDMiner]

Hi:

the truth really has very low hash pool by the few members and the fact that we do not have miner with hash / s over 10 GHs

[freynder]

The round has finally ended. Let's hope for a few short rounds now

[JDMiner]

YES !!!!    ,,,,,  finally finish this .... but we need more miners  and Hash/s

[freynder]

Hello all,

Please be informed that as of 2/6 the pool is owned and operated by user nonstopmine. An automatic payout to all miners has been processed. Payment system changed to PROP. The change should be transparent for miners and not require any change to their settings.