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Question: What type of pool payouts do you prefer?
Bitcoins - 3187 (80.5%)
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Author Topic: [150+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 4268502 times)
-ck
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March 31, 2014, 05:14:25 AM
 #16121

Slushs pool holds too small a market share of hashing. Slushs is only 2% of the hash power... its only going to get worse as the two or three largest hashing pools get even bigger. Ghash, BTC Guild, and Discus... Heck even Eligius are way to big. Its unfortunate that they could not have worked some more even distribution limits into the BTC math to keep it more evenly distributed. Those big ones should burn to the ground... seriously... They should all burn...

While I agree more decentralisation is ideal, there is no way to stop people from pointing their hashes wherever they want, and market forces dictate this more than any logical reason.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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March 31, 2014, 05:37:24 AM
 #16122

We are due for an ORPHAN...

so we are also due for 5 people declaring something is wrong and they are moving their miners.

and go...
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March 31, 2014, 01:44:31 PM
 #16123

Who is selling such large volumes of BTC and forcing the price so low?

It is yet another "China will ban bitcoin" rumor.   China is responsible for a significant part of the speculation market in bitcoin.

I myself am holding ..but i think it is 80/20 that China will ban bitcoin businesses etc from dealing with banks in the mainland directly.......won't effect current 'advocates" but would certainly
stop the growth/rush to BTC the ordinary guy starting now would have

the interesting question is will this effect miners? ie you can't even build miners in china anymore?
...ie if so..that would ..not sure what that would do....but the combo
or IRS claims in USA a china ban on bank xfers (hong kong they would move but still) and all the china exchanges have to go
at least to hong kong or out of China mainland... and all the asic mnfg would have to move shop out of China...well that would be quite the drop kick in the....well I can't say makes my tummy hurt and my gonads shrink....
...well you know...guess all our prayers have been answered for 'cheap coin" damn..

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March 31, 2014, 02:14:38 PM
 #16124

Why couldn't ASIC manufacturing remain China? Will the ban extend to buiding IC's that can hash sha256 that are purchased in fiat? There's nothing in that which says your dealing in bitcoin. Could be viewed as good for the economy if it promotes business done in fiat. China remains the makers and supplies the world's miners. Might be the boost the little guys need since they won't be so readily mining thier inventory.
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March 31, 2014, 03:37:06 PM
 #16125

Why couldn't ASIC manufacturing remain China? Will the ban extend to buiding IC's that can hash sha256 that are purchased in fiat? There's nothing in that which says your dealing in bitcoin. Could be viewed as good for the economy if it promotes business done in fiat. China remains the makers and supplies the world's miners. Might be the boost the little guys need since they won't be so readily mining thier inventory.

The company I deal with only accepts BTC.. it could get complicated if they could not accept BTC.  Using the USD is just way to expensive...  It would be bad news if they could not accept BTC.   We need a french revolution.. but the people have been stripped of their ability to do antying.. every where.
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March 31, 2014, 05:58:42 PM
 #16126

Well given the option between fiat or a load of post holes followed closely thereby tumble weeds rolling through the floors of your offices; I'm sure where there's a will there's a way.
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March 31, 2014, 10:48:10 PM
 #16127

Who is this major 'Unknown' taking this massive chunk of BTC?!

http://bitcoincharts.com/bitcoin/
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March 31, 2014, 10:52:50 PM
 #16128

Who is this major 'Unknown' taking this massive chunk of BTC?!

http://bitcoincharts.com/bitcoin/

Really? If anyone knew who it was, would it be unknown? Actually, it isn't one, but many. It is a grouping of all unidentified miners.
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Poor impulse control.


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March 31, 2014, 11:45:02 PM
 #16129

Who is this major 'Unknown' taking this massive chunk of BTC?!

http://bitcoincharts.com/bitcoin/

Really? If anyone knew who it was, would it be unknown? Actually, it isn't one, but many. It is a grouping of all unidentified miners.

Well, some of us have better estimates of "unknown". The total for the past week is about 11%, and I'm working on getting that down too:



Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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April 01, 2014, 12:31:23 AM
 #16130

Who knows who "Unknown" really is.  It's probably KNC mining with their customers' money.  That is an illegal activity know as "conversion."  But we're all messed if the U.S. government decides to use that massive NSA datacenter in Utah to mine Bitcoin.  I might could envision a collective rock-throwing raid on KNC in Sweden, but disrupting that monster in Utah would be more problematic.
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April 01, 2014, 12:54:58 AM
 #16131

Who knows who "Unknown" really is.  It's probably KNC mining with their customers' money.  That is an illegal activity know as "conversion."  But we're all messed if the U.S. government decides to use that massive NSA datacenter in Utah to mine Bitcoin.  I might could envision a collective rock-throwing raid on KNC in Sweden, but disrupting that monster in Utah would be more problematic.

I just increased the size of the chart so you can see KNC's segment clearly shown.

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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April 01, 2014, 02:37:46 AM
 #16132

22 minute block...  the good old days.  Roll Eyes
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April 01, 2014, 02:51:33 AM
 #16133

22 minute block...  the good old days.  Roll Eyes
It's officially April Fools Day server time.
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¯\_(ツ)_/¯


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April 01, 2014, 04:19:14 AM
 #16134

Quote
80/20 that China will ban bitcoin businesses etc from dealing with banks in the mainland directly


China doesnt let business freely exchange for dollars so far as I know so btc ban probably slots into that policy; command economy and all
btc is a network economy supposedly

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April 02, 2014, 11:00:52 AM
 #16135

First off, it's my fault for that last long block. I added a new cube yesterday. Cheesy

Secondly I have to share my idiot moment of the week. I was frustrated beyond anything trying to get it set up. I put in the settings with the IP address and whatnot and then tried to get to the cube via another computer on my network. So I would put it back to factory settings, try different things and try to connect again. No matter what I did, I couldn't reach the cube. I was about to throw it through a window until I realized the network cable I had going to the switch had come just slightly unplugged. Popped it in and I was hashing away. I guess I was the butt of my own April Fool's joke.


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April 02, 2014, 12:20:45 PM
 #16136

man you guys are having some bad luck over here.
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April 02, 2014, 01:34:02 PM
 #16137

man you guys are having some bad luck over here.

It looked like that especially in the last 1 week.

As a newbie, I tried to analysis using the statistics from the site (https://mining.bitcoin.cz/stats/):

In this line and if the luck meant average against the world, the latest is  176% 89% 100% for 1 7 30 days.    Hence it seems it is just average (100%) if you calculate over 1 month.  But the 89% is very bad (and reflect the feel in the last 1 week).  But the 176% currently (because after a long wait we have 0 hour one), that seems just wide fluctuation of a small pool.  May be one has to be patient.

What I do not understand if one look at say this: http://bitcoinchain.com/pools

You can see that slush pool have average 258,349 GH/s but it only got 56 blocks but other having much less GH/s got more blocks.  Is that normal and are we getting less block than we should. 

It comes back, what does that meant the pool luck statistics reported in the site.  If it does not reflect the average block per time period per GH/s, what does it meant?

Just asking as I am still in this pool. 

===

Another question whilst I am still in this pool, is my average average?

My 200 GH/s based on stat. should gave me 0.02 per day (per http://www.bitcoinx.com/profit/) but in this site it is average 0.0125 per day for the last 2 weeks (with last 10 rounds now is 200+ GH/s).  Is that a bit below expectation or it is the bitcoinx too optimistics about this.

In any case may be I should be happy as I saw all these TH/s machine coming everywhere now.  I think that 0.125 / day is not going to last even ...
 

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April 02, 2014, 03:13:36 PM
 #16138

We are due for an ORPHAN...

so we are also due for 5 people declaring something is wrong and they are moving their miners.

and go...

300 gh/s Avalon, a 19 hour block and a BTC reward of 0.00002856!!!  Might as well be an orphan.
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April 02, 2014, 06:13:39 PM
 #16139

man you guys are having some bad luck over here.

It's all about to change. I made a new tin foil hat and this one is shaped like a pirate's... Arg!
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April 02, 2014, 06:25:52 PM
 #16140

Today I've gotten more blocks on slushies than on my peercoin mining pool.

WTH D7.. How am I getting more BTC BLOCKS?!?!.. /end rant
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