Why are you still mining on AntPool?

[HagssFIN]

It's fucking dirty to have such "good PR" news by helping that guy and in the same time lie about miner rewards (tx fees specifically).

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[yukiko]

Antpool's fee structure:

Instructions
Payment Method   Fee   Description

PPLNS   0%   Assign to you alter AntPool found a new block and the new block confirmations more than 3 (Transaction fees not paid out to miners for maintaining cost and the bonus for our engineers)
Earnings = 12.5 BTC * Your share count in 2.5 difficulty cycle / Total share count in 2.5 difficulty cycle

PPS   -3%   Earnings = 12.5 BTC * Share Count of 1 Difficulty / Current Network Difficulty

PPS+   Block Reward 4%
Tx Fee2%   Earnings = 12.5 BTC * Share Count of 1 Difficulty / Current Network Difficulty + Tx Fee PPLNS

SOLO   1%   Assign 12.5 BTC to you alter AntPool found a new block which is for you and the new block confirmations more than 3 (Transaction fees not paid out to miners for maintaining cost and the bonus for our engineers)
If there is no new block found for you, then there is no mining revenue for you

----

Does PPS+ not imply they -are- paying the transaction fee out for this particular payment method? Looks like they are charging 4% on the block reward and 2% on transaction fees. Antpool fees are certainly much higher than other pools when it comes to proper transaction fee payout. But it doesn't appear they are pocketing the fees.

I in no way am stating people should mine on Antpool. Frankly, Antpool is too big and your shares of the payout is probably so tiny, the fee payout isn't helping much. I would speculate their hashnest is probably eating most of it so they keep most for themselves, just in a sneaky way.


edit: I made inquiry for further clarification on how they calculate the fee if it is based upon only PPS+ users or the entire network.

[Laviathon]

Yeah at current rate that works out about $1million a month they keep

Thats absolutely crazy!

[buwaytress]

Just out of curiosity, visited the link in your signature to see your mining pool. Unless stats aren't updated, it seems to show that the last block found was five months ago? I'm all for diversification of hash power but perhaps the reason people go for the biggest pool is simply because of the guarantee of something, no matter how small?

Good luck with bravo pool!

No, you're not mistaken.  My pool last found a block on 10/12/2016.  I hope you also looked at the minimal hash that is currently pointed to my pool as well.

My point in the original post is, "If all the same miners mining on AntPool were mining on my pool, they would have made 13.88% more BTC".  Well, on my pool it would have been 13.38% since I have a 0.5% fee.

People could be making a ton more coin for their hash, but because they think "OMG bigger is better!" they lose.

Thanks for the response Bravo. It's certainly a tough spot to move on from when you consider that most new and existing miners are as you say, out-of-the-box entrepreneurs who won't be embarassed to say that their intent first and foremost is to recoup their outlay on hardware.

Perhaps the target audience would be experienced miners who would have already recovered some and who then would see the longer term benefit of a pool they'd hit less often but ultimately earn more.

Do update the wiki with bravo pool. The word needs to get out from pools like yours.

[SA Bitcoin Brothers]

Yes people. Switch to smaller pools. I've moved away from Antpool. And it's great!

[-ck]

[kano]

Lulz, they conveniently left out the obvious in that graph, that the fall started before that point.
But who wants accuracy, when convenience can be used to deceive people

https://i.redditmedia.com/jGkQ4jIf37fJMPFFogB94Bu4uHLrS0nchdtG8nsjalA.jpg?w=1024&s=41b0fbd171ee5af4d8d8c18572f44e60

You can go back 2 or 3 days to get the peak before the fall started.

No, I have no support for antpool as is well known, but using deception is pretty tacky.

... or you could see the obvious that the price half way thru the red line is the same at the left

Edit: if you look at any unobscured 1 month graph, the fall started about the 16th

... and a graph that pretty much puts it at 16th Mar or later:

(antpool's first BU block according the the other graph was 6th Mar)
The orange line is the 6th Mar

[LabaDaba]

Seriosuly switch pools. All who aren't on Hashnest. Bitmain is cancer to bitcoin community, both with support of BTU and their crap miners.

[eddiephx]

Yes people. Switch to smaller pools. I've moved away from Antpool. And it's great!

Where to bro? New miner here i've jumped around some of the larger pools but i'm open to try out some more profitable mining pools. Any info would be appreciated. Thanks.

[NotFuzzyWarm]

So far best in my book is Kano pool, been with them for years.

[VRobb]

^^^ What he said!

[niko83]

I see Hashnest and Kano being suggested. In my short mining life I always used Slushpool, mainly because it has a very geeky web interface. 
I wonder how Slushpool compares to Hashnest or Kano. Not that I have any complaints.

[HannRa]

I see Hashnest and Kano being suggested. In my short mining life I always used Slushpool, mainly because it has a very geeky web interface.  
I wonder how Slushpool compares to Hashnest or Kano. Not that I have any complaints.

If you're mainly after investment profit, then Kano. If you are OK with paying double pool fees (2% Slush vs 0.9% Kano) for a prettier web interface and functionality to signal/vouch for future network upgrades (EC, SegWit, EXTBLK, BIP100), then Slush will be good. There are pools that charge even less in service fees, but they tend to be too tiny. I mine at Kano myself and the current hash rate of 80PH/s ensures blocks are found more frequently than "once in a blue moon".

Hashnest is an all-in-one cloud mining service and should not be compared to Kano or Slush which are mere mining pools.

[iaskaboutthis]

Hello! My question is probably at the wrong place but I ask here because i read this whole post and understood that in this forum there are some people who really know a thing or two about mining. I know nothing about mining. But I really want to start mining because it seems like a pretty  sweet opporunity and I need to find between 20,000$-40,000$ in the next 2-3 years for my education. The problem is that I have no clue where shall i start and how much money I will need to invest in hardware. I got a little off topic my question is: Can someone tell me where I could read some TRUTHFUL documentation on the whole deal, this should include the hardware i need the way i should set it up and how i should be mining to make the whole thing profitable. I hope my question is not too absurd and will get some feedback. Thanks!

[-ck]

Hello! My question is probably at the wrong place but I ask here because i read this whole post and understood that in this forum there are some people who really know a thing or two about mining. I know nothing about mining. But I really want to start mining because it seems like a pretty  sweet opporunity and I need to find between 20,000$-40,000$ in the next 2-3 years for my education. The problem is that I have no clue where shall i start and how much money I will need to invest in hardware. I got a little off topic my question is: Can someone tell me where I could read some TRUTHFUL documentation on the whole deal, this should include the hardware i need the way i should set it up and how i should be mining to make the whole thing profitable. I hope my question is not too absurd and will get some feedback. Thanks!

Please start looking in the mining speculation subforum for your answers and not posting in this unrelated topic.

[andydis]

I'm currently mining with one s9 on eu.pool.btc.com
does anybody think if i switch to https://kano.is i would see much difference?

[Greg M]

 There are so many other pools out there that are more profitable. How someone could invest thousands in an ASIC and not research pools is beyond me. I guess you are right when you say they just leave the default pools set as is.
 
 Also I have heard people say that they think because they bought from Antminer 🐜 that it must be best to mine with them at Antpool. Boy oh boy are they wrong. Thanks for sharing this. Its worth it if we get even one miner to switch from 🐜pool.

[lebahye]

Personally, I've supported P2Pool for years running my own node and merge mined 8 other coins.  I did not pay any transaction fees.  Unfortunately, in order to be sustainable, I need to be at >50pHs.

[miguelmorales85]

I dont know why people still in that Pool. They are not loyal to Satoshi's ideas.
I always prefered to mine at Kano. The luckiest pool out there.

[carizmerlin31]

Seriously folks.  Why are you mining there?  You are giving up SO MUCH coin.  Here's just the past 24 hours:

In the past 24 hours, Antpool has made 29.50355862BTC for themselves from transaction fees ALONE.  They've solved 17 blocks, which means they've made an average of about 1.74BTC per block.  That turns into 13.88% fees they are charging their miners.

Why are you giving up 13.88% of your income?

Mine on a pool that pays you for your work.

I'm curious to how much of their hashrate is simply b/c they put themselves as the target pool.  I hope/trust users do actually change the payout address to their own, but maybe some see the btc coming to their wallet and think it 'good enough'

i would think readers of this pool sub-forum wouldn't be your target audience - and likely don't use their poo(l)

That would be an interesting stat... I bet it is a pretty large percentage of the user base that leaves things as they are from the factory.  Investors with too much money, and not enough sense who want to get in on the "Bitcoin thing".

they line up in droves to buy their used miners and mine at the pool.  how greedy can one company be?  boy, we've all come a long way from geeks at our computers mining bitcoin for $10.  only wanting enough bitcoin to buy another gpu for gaming.  but hey,  let's just give them or any other greedy farm corp your money.

Where would these greedy fucks be if Bitcoin was still under $100?   Hmmm  Imagine if the fastest miners were still the usb miners? Then bitcoin wouldn't be in the hands of the wealthy. and still in the hobbyist.

sorry kinda went off track there.  probably not the thread for this 

No problem... preach away .  This thread isn't self-moderated.

SO what is the best and reliable mining pool we can choose?