[Closed] MineCo.in

[spiccioli]

Code:

# Current rate: 141 GH/s
# Time: 1 days 06:42:23
# Total Shares: 3569884
# Difficulty: 1888786
# Server Load: Low
# Your Shares:
Total this block: 17100
Eligible for Reward: 17109
# Your Reward: 0.23924596 BTC 

How comes my shares are now so high?

I was used to 4-5K shares eligible for reward... is something changed?

spiccioli.

[Christian Pezza]

please take off MyBitcoin from your website

How do I start ?

1) Get a bitcoin wallet

You need somewhere to store your rewards!
You can either download the official client from Bitcoin.org or get a hosted wallet at mybitcoin.com

[Grouver (BtcBalance)]

I am mining for about 3 hours straight and my pity 95mhash is still being recognized as 60 mhash on the minecoin server side.
Whats up with this Wuked?

[deti]

3 1/2 days without a new Block!?! Are you sure the pool is still connected securely to the network?

[BurningToad]

3 1/2 days without a new Block!?! Are you sure the pool is still connected securely to the network?

This round is at 8,697,535 shares, well within the realm of possibility.  My pool had two 11 million share rounds lately  

If the pool wasn't "connected" to the bitcoin network, it couldn't generate work to hand out to miners.  So I'm sure things are working normally.

[Neptune]

kind of wierd that the difficulty went down but our shares per block have skyrocketed....that block that took 4 days was over 9 million shares....what is the share record for a block?

[BurningToad]

kind of wierd that the difficulty went down but our shares per block have skyrocketed....that block that took 4 days was over 9 million shares....what is the share record for a block?

13 or 14 million shares last time I tried checking (about a week ago.)

[teukon]

Is there a plan to include a way to donate a percentage of my gains to the pool automatically?

[deepceleron]

# Your Shares:
Total this block: 17100
Eligible for Reward: 17109
# Your Reward: 0.23924596 BTC 

How comes my shares are now so high?

I was used to 4-5K shares eligible for reward... is something changed?

spiccioli.

The pool uses Pay-Per-Last-N-Shares, where your reward if a block is found is computed by how many recent shares you contributed in the period it took the whole pool to contribute (difficulty/2) shares. If the total pool hashrate decreases, you are able to submit a higher percentage of shares in the N shares window, and your reward is higher when a block is found. We of course prefer the more regular payouts that come with a higher hashrate, but your expected reward over time is the same whether the pool has a high or low total hashrate.

BTW, there is no penalty for jumping on in the middle of a long round on a PPLNS pool (and also no logical reason to leave on a long round either). The work you submit now determines your earnings on future block finds (the past luck does not matter), so mine away!

Is there a plan to include a way to donate a percentage of my gains to the pool automatically?

I like that there is no option on the site shaming users into donating a fixed percentage. The donations address from the pool's web site is 1D3ro6Xb9XDvPFCytiNLdSLDHpWXZoA2kn if you want to send something. BTW, this is the highest earnings pool around - a fair unhoppable payment system, no fees, and pays miners the transaction fees earned per block solve in addition to the 50BTC.

BTW, is Wuked on a legendary European vacation? He hasn't signed on to the forum since July 31 (although his sig shows he is still mining away...)

[teukon]

Is there a plan to include a way to donate a percentage of my gains to the pool automatically?

I like that there is no option on the site shaming users into donating a fixed percentage. The donations address from the pool's web site is 1D3ro6Xb9XDvPFCytiNLdSLDHpWXZoA2kn if you want to send something. BTW, this is the highest earnings pool around - a fair unhoppable payment system, no fees, and pays miners the transaction fees earned per block solve in addition to the 50BTC.

BTW, is Wuked on a legendary European vacation? He hasn't signed on to the forum since July 31 (although his sig shows he is still mining away...)

I understand.  Some pools have acted rather shamefully regarding their donation percentages.  Personally, I feel that a donation percentage box set to 0 by default accompanied by a polite sentence making the views of the pool owner on the subject clear would be ideal but if Wuked prefers it this way I'll try to calculate an appropriate donation and do so manually.

I noticed the included transaction fees and this is very much appreciated.  The PPLNS is a big winner for me too.  One thing that is bothering me about PPLNS is trust in the pool operator.  What is to stop a PPLNS pool operator from cashing in a winning block silently once in a while and keeping the reward for themselves.  I don't mean to cast doubt on the trustworthyness of Wuked at all; I'm sure no such scam is taking place.  Is there some kind of mechanism in place which makes it impossible for the pool operator to keep the odd block for themselves and if so how does it work?

[deepceleron]

What is to stop a PPLNS pool operator from cashing in a winning block silently once in a while and keeping the reward for themselves.  I don't mean to cast doubt on the trustworthyness of Wuked at all; I'm sure no such scam is taking place.  Is there some kind of mechanism in place which makes it impossible for the pool operator to keep the odd block for themselves and if so how does it work?

Any pool system besides PPS requires trust in the pool operator, regardless of the payment system used. A pool admin could withhold a winning block payment, or be contributing fake shares into the system so they get paid for work they didn't do. There doesn't seem to be a good way to hold a pool op accountable if you can't know from the outside when a pool has solved a block or verify that all contributed shares are from real miners.

With PPS there are typically high fees, since the pool operator is paying for mining in advance of block solves, takes a risk that there may be a long period of bad luck where he still has to pay miners, and also a PPS pool can be attacked by withholding - bad miners not submitting a winning share if found.

[teukon]

Any pool system besides PPS requires trust in the pool operator, regardless of the payment system used. A pool admin could withhold a winning block payment, or be contributing fake shares into the system so they get paid for work they didn't do. There doesn't seem to be a good way to hold a pool op accountable if you can't know from the outside when a pool has solved a block or verify that all contributed shares are from real miners.

With PPS there are typically high fees, since the pool operator is paying for mining in advance of block solves, takes a risk that there may be a long period of bad luck where he still has to pay miners, and also a PPS pool can be attacked by withholding - bad miners not submitting a winning share if found.

Thanks for the informative post.  There are few users here who are as clear or as eloquent.

[Wuked]

Hi Guys,

I've just got back from my vacation, sorry for being AWOL for so long!

I have quite a bit of work to get done on the pool, so I'll get on all of your messages as soon as possible.

It looks like we've had shocking luck over the last week, but I can assure you that everything seems to be running smoothly on the pool.

[gnar1ta$]

I think bad luck follows me around.  Switched my miners over from guild 3 days ago, they've been green on luck most of the last 3 days.  Not so much here.  If someone wanted to drink their variance sorrows away and was wondering what the probability of hitting X (lets just say 9 million) shares given current D difficulty, how would that be done? I vaguely remember spreadsheets of poisson, and normal distributions from statistics, but I don't know how use them.

[bitfoo]

If someone wanted to drink their variance sorrows away and was wondering what the probability of hitting X (lets just say 9 million) shares given current D difficulty, how would that be done? I vaguely remember spreadsheets of poisson, and normal distributions from statistics, but I don't know how use them.

Slush's pool has a graph of what you're looking for: http://mining.bitcoin.cz/stats/graphs/ - scroll to the bottom.

[deepceleron]

If someone wanted to drink their variance sorrows away and was wondering what the probability of hitting X (lets just say 9 million) shares given current D difficulty, how would that be done? I vaguely remember spreadsheets of poisson, and normal distributions from statistics, but I don't know how use them.

Slush's pool has a graph of what you're looking for: http://mining.bitcoin.cz/stats/graphs/ - scroll to the bottom.

Slush's probability graph is full of math fail. Let me re-twat a previous post of mine (note the probability below was from a lower difficulty):

The CDF is already at 99.999% probability of finding a block per Poisson distribution table since 4 hours ago.
It's now at 8 million shares and 16 hours @ 600ghash/s.

Mathematically very, very improbable, if not practically impossible
http://portal.acm.org/citation.cfm?doid=355993.355997
http://www.itl.nist.gov/div898/handbook/pmc/section3/pmc331.htm

(The probability of not solving a block within 960 minutes at current difficulty with 600ghash/s is <0.0000000000000001% and decreases exponentially after each passing minute)

I get a different answer. The chance of solving a block depends on difficulty.

Here is the probability of an individual hash solving a block: http://blockexplorer.com/q/probability

The current probability of solving a block with an individual hash is: 0.0000000000000001489590023459044440534704278888966655358

The current probability of not solving a block with one hash is therefore :
( 1 - 0.00000000000000014895900234590444 ) = 0.99999999999999985104099765409556

Let's call that chance of not solving with an individual hash (a number very close to 1, or 100%) "Z".

The probability of not solving a block with two hashes is Z * Z, better written as Z^2. Still nearly 100%. We need more hashes.

The pool averaged about 600Ghash per second. That is 600,000,000,000 hashes per second x 60 seconds per minute x 60 minutes per hour x 16 hours in the "imaginary" round. Probably around 34,560,000,000,000,000 hashes. That's another preposterous number, so I'll call that "hashTotal"

A pool trys hashTotal hashes in 16 hours, so the chance of not finding a block in that time is Z ^ hashTotal.

.99999... ^ 3.456E+16 = .02156 = 2.16% chance of not solving a block in 16 hours. Not improbable. Bruteforcing the nonce statistics don't enter into it, since everybody is doing random work on multiple blocks. Actual calculation done in Excel, not Matlab, so feel free to verify the percentage for me.

Note that also you cannot directly compute using shares or just multiply shares*difficulty, because the chance of finding a share (a difficulty 1 block solve) is also random with binomial distribution, and what is important is the complete number of individual hash attempts in the full difficulty problem.

[btcboston]

The current round is about to reach 10,000,000 shares.  At current difficulty, there is a roughly 1 in 254 chance of having a round that long (0.39274%)

[teukon]

Congrats on reaching 10`000`000 shares guys, that's really impressive.

[Wuked]

Go us

[Wuked]

Woooooo