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rat (OP)
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October 13, 2012, 03:33:06 PM |
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o how the mighty have fallen.
seriously. wtf happened?
they went from over 50% to like 2% of the hash rate.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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hazek
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October 13, 2012, 03:43:04 PM |
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What happened? Simple, a market regulated strictly by it's consumers i.e. a free market and the competition that comes with it. That's what.
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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BurtW
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All paid signature campaigns should be banned.
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October 13, 2012, 03:47:32 PM |
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Simple, my rig is down  |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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MrTeal
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October 13, 2012, 03:48:30 PM |
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Deepbit has a hell of a lot more than 2%. They have about 3.5TH/s or 15% of the network.
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crazyates
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October 13, 2012, 03:52:30 PM |
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Deepbit has a hell of a lot more than 2%. They have about 3.5TH/s or 15% of the network.
They've been at 3.5TH/s for a while now. The market grew, but they didn't. |
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os2sam
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Think for yourself
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October 13, 2012, 05:17:49 PM |
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They are busy on another project at the moment. It will be interesting to see what Deepbit does with the mining site when the other endeavor comes to fruition.
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A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
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server
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1 BTC =1 BTC
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October 13, 2012, 05:32:55 PM |
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13%  |
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eleuthria
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October 13, 2012, 06:05:48 PM |
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Blockchain.info is almost always wrong on Deepbit. Their hashrate distribution graph is not reliable at all when looking at Deepbit's portion.
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RIP BTC Guild, April 2011 - June 2015
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GenTarkin
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October 13, 2012, 09:04:22 PM |
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People finally wised up and realized there were smaller fee pools out there =P....
oh wait, people wiser?... so much for that theory..
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jgarzik
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October 13, 2012, 09:06:37 PM |
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Blockchain.info is almost always wrong on Deepbit. Their hashrate distribution graph is not reliable at all when looking at Deepbit's portion.
Quoted for emphasis. Blockchain.info data is wrong on deepbit, so it either skips that work, credits other categories with deepbit's work (because deepbit's blocks are first seen by blockchain.info from other sources). |
Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
Visit bloq.com / metronome.io
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piuk
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October 13, 2012, 09:23:02 PM |
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Blockchain.info data is wrong on deep bit
Yes blockchain has always had trouble with Deepbit. There are several other mining pools hosted in germany which makes their blocks difficult to tag correctly + they don't tag their coinbase. I created a script to parse https://deepbit.net/stats but our server ip was blocked. |
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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October 13, 2012, 09:32:50 PM |
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Blockchain.info data is wrong on deep bit
I created a script to parse https://deepbit.net/stats but our server ip was blocked. nice little Bitcoin world! such a fresh mind here! gorgeous!  |
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kwoody
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Technology and Women. Amazing.
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October 14, 2012, 01:56:31 AM |
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What happened to Deepbit you asked? As difficulty went up, rewards went down, and miners became discontent with how much they were making at Deepbit, and realized they could be making more at just about any other pool by comparison. PPS fee of 10% is straight fucked, yo.
Oh, and that graph only measures the number of blocks awarded to a particular pool or entity, not their actual hashrate. If Deepbit were mining at 100TH/s and found say, 3 blocks in an hour, and my imaginary pool is mining at 20TH/s and found say, 4 blocks in an hour, that graph would show my pool as bigger despite it actually being 1/5th the size. Make sense?
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Beans
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October 14, 2012, 02:16:47 AM |
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I've always been confused on how deepbit was so large to begin with. People have been asking about it for a long time, a logical answer is never given. I'm guessing the pool will disappear unless they lower fees.
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organofcorti
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Poor impulse control.
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October 14, 2012, 05:07:40 AM |
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It's still pretty close: 50BTC at 18.85% of the network blocks, Deepbit at 16.62% of the network hashrate, and BTCGuild at 14.61% of the network hashrate. More details at https://bitcointalk.org/index.php?topic=77000.msg1270918#msg1270918 and also at http://organofcorti.blogspot.comI think one of the reasons people are leaving Deepbit since is that other people are leaving. People just do what other people are doing. They mined at Deepbit because everyone else did. Now they're leaving it because everyone else is. Well, that and the recent DDoS. |
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eleuthria
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October 14, 2012, 05:36:11 AM |
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It's still pretty close: 50BTC at 18.85% of the network blocks, Deepbit at 16.62% of the network hashrate, and BTCGuild at 14.61% of the network hashrate. More details at https://bitcointalk.org/index.php?topic=77000.msg1270918#msg1270918 and also at http://organofcorti.blogspot.comI think one of the reasons people are leaving Deepbit since is that other people are leaving. People just do what other people are doing. They mined at Deepbit because everyone else did. Now they're leaving it because everyone else is. Well, that and the recent DDoS. Also increased variance. Deepbit's proportional variance used to be extremely low. As the network hash rate grew and Deepbit didn't, miners have been able to notice an increased variance with each difficulty increase. It's not that miners see other people leaving (directly), it's that Deepbit's speed remaining mostly stationary while the network has increased significantly is causing a large rise in how much their payouts under proportional vary. And as more people leave, the effect of hoppers is more pronounced, which hurts regular Deepbit miners even more than it used to. |
RIP BTC Guild, April 2011 - June 2015
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organofcorti
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Poor impulse control.
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October 14, 2012, 05:39:29 AM |
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It's still pretty close: 50BTC at 18.85% of the network blocks, Deepbit at 16.62% of the network hashrate, and BTCGuild at 14.61% of the network hashrate. More details at https://bitcointalk.org/index.php?topic=77000.msg1270918#msg1270918 and also at http://organofcorti.blogspot.comI think one of the reasons people are leaving Deepbit since is that other people are leaving. People just do what other people are doing. They mined at Deepbit because everyone else did. Now they're leaving it because everyone else is. Well, that and the recent DDoS. Also increased variance. Deepbit's proportional variance used to be extremely low. As the network hash rate grew and Deepbit didn't, miners have been able to notice an increased variance with each difficulty increase. It's not that miners see other people leaving (directly), it's that Deepbit's speed remaining mostly stationary while the network has increased significantly is causing a large rise in how much their payouts under proportional vary. That's quite a good point - I hadn't thought of that but of course that's exactly what prop miners at Deepbit will notice. And as more people leave, the effect of hoppers is more pronounced, which hurts regular Deepbit miners even more than it used to.
Well, I expected that too, but not this week for some reason. |
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-ck
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Ruu \o/
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October 14, 2012, 05:44:08 AM
Last edit: October 14, 2012, 06:03:38 AM by ckolivas |
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I've always been confused on how deepbit was so large to begin with. People have been asking about it for a long time, a logical answer is never given. I'm guessing the pool will disappear unless they lower fees.
2 major things. The non English speaking miners (mainly Russia and China) and inertia. The time deepbit took off was when bitcoin mining exploded in popularity and all the other pools were struggling under the load. Tycho took a chance and kept throwing lots of hardware at the problem which was an investment on his part that paid off, and it was the only reliable pool at the time. That reliability has kept a lot of users there since then, even though most other pools have since caught up and offer lower fees. It is the least modernised pool out there despite being the largest for almost 18 months and having changed very little in design or features and having high fees since then in spite of the bitcoin mining scene changing substantially in that time. All that will change dramatically with ASICs because throwing lots of pool hardware at the server end (which was the deepbit way) is just not going to cut it when we're talking about things being 50x the current demand. Even if the server will be able to take it, miners' internet connections will not be able to take it. Either deepbit will change its business plan to revolve around being an ASIC provider and slowly but surely shut down their mining pool, or they'll totally revamp their pool to support a new mining protocol (hopefully stratum) and start again to support their hardware. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
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organofcorti
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Poor impulse control.
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October 14, 2012, 05:47:25 AM |
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I've always been confused on how deepbit was so large to begin with. People have been asking about it for a long time, a logical answer is never given. I'm guessing the pool will disappear unless they lower fees.
I didn't see this post until ckolivas quoted, so here's your answer, Beans: from http://organofcorti.blogspot.com :  |
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Shadow383
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October 14, 2012, 01:23:36 PM |
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Deepbit has a hell of a lot more than 2%. They have about 3.5TH/s or 15% of the network.
They've been at 3.5TH/s for a while now. The market grew, but they didn't. They're at ~3.5TH/s and from my own observations probably being hopped by about 400Gh/s. It's a pity for me personally - deepbit being healthy massively increases my profitability |
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