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Author Topic: Bitminter bitcoin mining pool - Pays TxFees, Merged Mining, Fair PPLNS rewards  (Read 304223 times)
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bigolin
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January 17, 2018, 11:50:42 AM
 #1421

Hi,

I am new to mining and new to Bitminter. I am mining with my S7 in Bitminter pool for weeks but didnt received any BTC yet. I read that it pays when it finds block, but when?!

Is Bitminter good for me with an old S7 should find another pool which pays faster? (I have to pay the electricitiy bill soon)

Thanks,
uristn

First of all, welcome to the pool.

Secondly, many users struggle with the same question on a long block such as the one that we are currently mining. You can track under Statistics - Shifts (work effort) which shifts are currently available for pay. You'll also notice the most recent two shifts that fell off the pay availability did so with a zero payout. Unfortunately, this sometimes happens, but it's less common than I feared when I arrived.

As far as your S7, you will be very happy when a block is found and you are paid, and then another block is found quickly and you are payed twice for the same work. Sometimes even more.

As I stated earlier, many users struggled with the same question...until their first block. Then they were hooked. PPLNSG pools are the best, and BitMinter is one of if not THE best pool to be a part of.

I personally have 4 miners, two of which are at other pools until I earn enough BTC for the electric and then they will be here and at other PPLNSG pools. Hopefully you can stick with it here as once a user leaves, the amount of their reward begin to fall off the current shifts available for payment. Then you have to mine again to get rid of all those zeroes and it's just not worth it! 1 S7's electric cost shouldn't be too much, and I would encourage you to just cover it in USD this month and continue with BitMinter.

Best of luck!
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DrHaribo
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January 17, 2018, 01:04:23 PM
 #1422

Antminer A3, to mine Blake 2b.

Note that this miner cannot mine bitcoin and you can't use it on Bitminter.

It may look like you will earn almost 11 BTC the first year if you mine Blake coins and sell them. The reality is that an ASIC for these coins will change everything, like it did with bitcoin in 2013. Noone will make as much as these numbers show now. If you had the only ASIC you would still not make that much. Because even your one ASIC miner would raise the difficulty. Still someone could make some quite good earnings in the beginning. Like it was with bitcoin. The people who got the first ASICs had some very profitable mining before the difficulty went up. In this case that's probably Bitmain themselves. By the time you receive the miner the difficulty will already be much higher than it is today. If you have one of the early orders you may still make a good profit - noone knows. At least Bitmain is not like Butterfly Labs that mined on customer ASICs until it was less profitable and only then finally shipped them.

I am new to mining and new to Bitminter. I am mining with my S7 in Bitminter pool for weeks but didnt received any BTC yet. I read that it pays when it finds block, but when?!

Finding a block is like a lottery. You can't predict when it will happen. With the current hashrate the average time for us to find a block is just under 2 weeks. We are working on getting the hashrate up. It has gone from 2 PH/s to 7 PH/s in a fairly short span of time. Hopefully we will have more frequent blocks in the future as our hashrate keeps growing.

Is Bitminter good for me with an old S7 should find another pool which pays faster? (I have to pay the electricitiy bill soon)

Whether you have an S7 or S9 doesn't really matter for which pool you should choose.

If you can't pay the electricity bill without frequent payouts, then perhaps you should mine on an extremely expensive PPS pool instead. While Bitminter is a very cheap pool to mine at, the payouts aren't at regular intervals. With PPS you pay extremely high fees, but you get paid regularly - and that is why you pay the high fees. If you have a PPS pool with 3% fee on the newly created coins and 100% fee on transaction fees, that's a total fee rate of about 28% currently. Bitminter has a 1% fee and optional donations to unlock perks, but you can turn that off.

Still, you may have to mine at 28% fee instead of 1% fee, because otherwise you are not able to pay the bills. Like they say, it's expensive to be poor.

What bigolin said is another option. You can do some high-fee PPS mining to ensure that you can pay the bills and put the rest on low-fee PPLNS mining.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
bigolin
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January 17, 2018, 01:53:13 PM
 #1423

Holy SMOKES I got quoted and mentioned in a DrHaribo post!

Have we ever figured out the issue with the amounts changing once a shift has fallen off? I know I spoke with someone about it with BitMinter and they were going to look into it. Since that time I have sold my old gear and purchased all my new equipment. Just a recap essentially what I'm seeing is even though the shift is no longer eligible for pay, and an amount is assigned to it in the "Pay per hour per Th" column, once another shift completes, that amount will be adjusted. I'm just not sure why it would adjust or which amount is correct, the first one or the final amount. Sometimes it will adjust as far as 4 shifts later.

Thanks in advance for any insight!
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January 17, 2018, 07:40:29 PM
 #1424

Holy SMOKES I got quoted and mentioned in a DrHaribo post!

lol Tongue

Have we ever figured out the issue with the amounts changing once a shift has fallen off?

Shifts appear to show inaccurate per-shift earning stats for a while after they are finished. I haven't had time to look more closely at this, but I will.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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January 17, 2018, 08:02:43 PM
 #1425

We really need to hit a block here!!!   
bigolin
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January 18, 2018, 04:08:25 PM
 #1426

Come on and pop!

67% here we go! I feel a pop coming!
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January 18, 2018, 07:34:17 PM
 #1427

Come on and pop!

67% here we go! I feel a pop coming!

We at 67.25 now *cross fingers*   If this gets dragged on we better hit one immediately thereafter Cheesy
johnPalli
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January 20, 2018, 12:59:35 PM
 #1428

Let’s hope to hit that today! 70% and Growing
bigolin
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January 20, 2018, 08:21:32 PM
 #1429

Let’s hope to hit that today! 70% and Growing

I'm ready. I brought two more S9's over to BitMinter to try and speed it up. Plus anytime it starts looking like it might be a super long block, I try to start ramping up some extra hash power.
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Today at 10:57:42 AM
 #1430

Let’s hope to hit that today! 70% and Growing

I'm ready. I brought two more S9's over to BitMinter to try and speed it up. Plus anytime it starts looking like it might be a super long block, I try to start ramping up some extra hash power.

That's also my intention with other 2 S9 that I'll receive in March. I just hope they will able to repay themselves because of the difficulty that is increasing so badly.
bigolin
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Today at 02:45:42 PM
 #1431

Let’s hope to hit that today! 70% and Growing

I'm ready. I brought two more S9's over to BitMinter to try and speed it up. Plus anytime it starts looking like it might be a super long block, I try to start ramping up some extra hash power.

That's also my intention with other 2 S9 that I'll receive in March. I just hope they will able to repay themselves because of the difficulty that is increasing so badly.

As long as they are profitable you should be good to go as they will eventually pay themselves off. Of course, the higher the BTC value is, the quicker it's paid off. You can always sell off one of your S9's which then covers the cost of the first one (by eBay prices) and you are in the green on the one. That's always an option and one I considered as well.
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