[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[ataranlen]

I think I broke something!

Approx. cluster performance:    118.862 Ghash/s

http://i7.photobucket.com/albums/y264/ataranlen/Ibrokesomething.png

[bitjet]

I think I broke something!

Approx. cluster performance:    118.862 Ghash/s

http://i7.photobucket.com/albums/y264/ataranlen/Ibrokesomething.png

THatd be nice if it was true!!

[xenon481]

You obviously don't understand how this works. This is like playing the lottery. The actions beforehand have ABSOLUTELY NO BEARING on the outcome of the next play.

Umm, actually, in this case - It kinda does.

By playing in a pool, we don't compete against one another.  Slush has kindly broken the problem space up for us so we can cooperate on solving the same target, rather than each going our own way and possibly duplicating effort.  Otherwise, the gripers who point out that "they" solved X blocks but only got such-and-such a share in it would have a valid complaint.

That said - We have a pretty damned big problem space, so the difference between truly random and cooperative amounts to something on the order of one part in 2^128 (256 -80 bits for the fixed-per-block state vector, -32 bits for the share difficulty, -16 bits for the current difficulty).  But still, it gives us just the teensiest edge vs each of us hashing on our own.   

OK, an itty bitty tiny, so small it can't really be noticed difference, and only until we have to start working on a new block which can happen multiple times within one round. Especially on that 9+ hour round...... 

[Dude65535]

There is no duplication of effort among solo miners since each is working on a slightly different block. Each miner has a different block because each uses a different address to receive the 50 BTC for the solution.

[bitjet]

There is no duplication of effort among solo miners since each is working on a slightly different block. Each miner has a different block because each uses a different address to receive the 50 BTC for the solution.

So is it better to consolidate my 4 gpu cores to work as one miner. use all my processing power for one miner?

[ronaldmaustin]

No, he's saying that you don't want your different GPU's working on the same problem and thus duplicating your own efforts on your other 3 GPU's.  That's why you chose a different mining name for each GPU.  I have used the same name for multiple GPUS in the past and saw no difference, so I don't know if it is just theoretical.

Hey, here's some "FUN FACTS" . . .

1) 73.098 Ghash/s current  
2) Average time to find block 35 minutes
3) Blocks per month 1234.29
4) 61714.29 Bitcoins per month
5) .831 USD/Bitcoin Mt.Gox
6) $51,284.575 per month Generated by Slush's miner
7) 2% MINIMUM of $51,284.75 gross profit to Slush = $1025.69

Raises a few questions.

1) Are the Czech tax authorities going to sit idly by while over a half million USD goes untaxed?
2) If prices continue along the current long term curve, how much is really generated in a year?
3) If hashs on Slush's server continue along the current curve, how many Ghash/s will that be up to in a year?
4) How does difficulty increase figure into the above calculations?
5) Does the gross profit represent a net profit or net loss to Slush? (Slush is entitled to be paid for his time.  I point this out only because with a minimum fee, it has crossed over to being a viable business instead of a charity with donations and I wonder whether others may compete.)

[Aqualung]

Approx. cluster performance:    209.218 Ghash/s

is that true?

[slush]

Approx. cluster performance:    209.218 Ghash/s

is that true?

No, it's the (known) bug.

[mizerydearia]

6) $51,284.575 per month Generated by Slush's miner

Raises a few questions.

1) Are the Czech tax authorities going to sit idly by while over a half million USD goes untaxed?

1/20th of a million?

[ronaldmaustin]

1/20th of a million?

Your mastery of mathematics does you credit.  However, the tax man, wherever he may be, seems to tax this kind of thing about once a year and my post questions projected returns over that period.  1/20 * 1000000 * 12 >  "a half million".  I do not believe Slush would be responsible for the tax, were he in the US, and Slush would likely only be responsible for tax on 2%.  But tax laws are wildly different everywhere.

[slush]

Your mastery of mathematics does you credit.  However, the tax man, wherever he may be, seems to tax this kind of thing about once a year and my post questions projected returns over that period.  1/20 * 1000000 * 12 >  "a half million".  I do not believe Slush would be responsible for the tax, were he in the US, and Slush would likely only be responsible for tax on 2%.  But tax laws are wildly different everywhere.

a) Pool isn't crunching money, but Bitcoins. I don't see any law talking about Bitcoin taxes yet.
b) I didn't withdraw the bitcoins from pool fees, so I don't have any tax duties yet.
c) When I withdraw the bitcoins, I'll pay 15% tax of "other income".

[ronaldmaustin]

Your mastery of mathematics does you credit.  However, the tax man, wherever he may be, seems to tax this kind of thing about once a year and my post questions projected returns over that period.  1/20 * 1000000 * 12 >  "a half million".  I do not believe Slush would be responsible for the tax, were he in the US, and Slush would likely only be responsible for tax on 2%.  But tax laws are wildly different everywhere.

a) Pool isn't crunching money, but Bitcoins. I don't see any law talking about Bitcoin taxes yet.
b) I didn't withdraw the bitcoins from pool fees, so I don't have any tax duties yet.
c) When I withdraw the bitcoins, I'll pay 15% tax of "other income".

I'm not concerned and neither should you be.  The points I make on this board are pretty much general "what ifs" when things get bigger.  I suppose pooled mining won't last that long.  However, if our IRS saw that the equivalent of 20+ million dollars comes into creation, you can be sure they want a piece.  In Las Vegas, if you win a large amount, they tax you right there.  I don't know if they'd let you go home with the chips on the promise to pay the tax when you come back and sell them to the cash cage.  They equate the win with money, just like the win of a car.  I don't know whether they'd tax the Bitcoins as cash, but they would impute a certain value to the Bitcoins and tax someone on that.  Now, here in the US, the IRS would realize that it was not completely feasable to tax the person who got the Bitcoins due to anonymity reasons, so I think they would tax mining pools here, theorizing that the mining pool actually took possession of the asset before passing it along, and have the mining pool do "withholding" just like an employer does with wages, or Vegas does with chip winnings.  Hopefully this flies under their radar, or we base the mining pool in Switzerland or the Grand Cayman Island.

[CD-RW]

~ BitCoins don't exist.

And the revenue the exchanges make have their tax already calculated.

[gusti]

It seems that BPM daily graphs ("Your daily reward" and "System daily reward") are delayed 1 day now.

[thordin9]

hi guys, i am new to bitcoin and pool mining. I think there is a bug in the web interface.
 Here's what just happened

I had over 4btc total reward (3+confirmed) and the sent threshold was set to 5.0 btc.
1 hour ago i decided to set the threshold to 1.0 btc and shortly after i received a payment of 1.0 btc
however my balance went to 0. Have i lost my btc?

Well nvm , i just received my btc 

[theGECK]

It seems that BPM daily graphs ("Your daily reward" and "System daily reward") are delayed 1 day now.

It would be hard to give you a daily total without the day being done. The totals for the day day is posted right as soon as  it is done, afaik.

[gusti]

It seems that BPM daily graphs ("Your daily reward" and "System daily reward") are delayed 1 day now.

It would be hard to give you a daily total without the day being done. The totals for the day day is posted right as soon as  it is done, afaik.

Showing Feb 19th totals at this moment, that is 2 days ago.

[foo]

It seems that BPM daily graphs ("Your daily reward" and "System daily reward") are delayed 1 day now.

It would be hard to give you a daily total without the day being done. The totals for the day day is posted right as soon as  it is done, afaik.

Showing Feb 19th totals at this moment, that is 2 days ago.

I see the 20th. It's probably your browser cache or something...

[bitjet]

I see 20th too. It would be nice to have an hourly graph with hourly average though.

[gusti]

Cannot fix it, checked on another machine with same result.
Maybe a problem with my account.