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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3933757 times)
RogMiner
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June 27, 2014, 05:29:14 PM
 #17101

So as I understand it if you have say 1TH/s at the moment you should expect to receive say about .005 per block (excuse the crude figures but they are really for explanation purposes only), and if we currently gat an average of about 5 blocks a day, you earn about about .025BTC per day.

If the difficulty increases then as long as everything else stays the same you should expect about a 20% drop in revenue, this means that you will only see an average of 4 blocks a day, so now you are looking at about 0.20 btc a day.

Now what really happens is that as difficulty increases people invest in new hardware and push up their hash rates to continue to earn more than the electric costs. If you leave your has rate the same your share of the block will decrease in real terms. So what happens is that difficulty goes up and hash rate goes up leaving us still finding about 5 blocks a day but if you haven't increased your hash rate then your earnings will actually go down by 20% per block. In other words your reward per block will drop to .04 and we will still find about 5 blocks a day.

Your cloice is ever decreasing revenues until the revenue is less than the electric cost, at which point you need to retire your equipment (unless you expect BTC prices to increase dramatically), or an ever increasing spend on equipment in the hope that you can play the margins and make more than you spend.

If like me your doing it because its fun, and you hope to make your money back when BTC are worth $1,000,000 each then just keep your old kit and wait, if however this is a real money making exercise then you must increase your hash rate and keep an eye on energy prices if you want to turn a profit.
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mstrongbow
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June 27, 2014, 05:31:18 PM
 #17102

If the difficulty goes up and u have 900 gh and receive .01 as reward per block found does the reward for your work drop as the difficulty goes up?

Correct. That is why a cryptocurrency miner must continually increase their hashrate

Not correct, increasing difficulty will not alter your slush reward per round - just makes blocks harder to find and hence you find them less often...

I stand corrected.  Grin

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June 27, 2014, 05:44:22 PM
 #17103

So as I understand it if you have say 1TH/s at the moment you should expect to receive say about .005 per block (excuse the crude figures but they are really for explanation purposes only), and if we currently gat an average of about 5 blocks a day, you earn about about .025BTC per day.

If the difficulty increases then as long as everything else stays the same you should expect about a 20% drop in revenue, this means that you will only see an average of 4 blocks a day, so now you are looking at about 0.20 btc a day.

Now what really happens is that as difficulty increases people invest in new hardware and push up their hash rates to continue to earn more than the electric costs. If you leave your has rate the same your share of the block will decrease in real terms. So what happens is that difficulty goes up and hash rate goes up leaving us still finding about 5 blocks a day but if you haven't increased your hash rate then your earnings will actually go down by 20% per block. In other words your reward per block will drop to .04 and we will still find about 5 blocks a day.

Your cloice is ever decreasing revenues until the revenue is less than the electric cost, at which point you need to retire your equipment (unless you expect BTC prices to increase dramatically), or an ever increasing spend on equipment in the hope that you can play the margins and make more than you spend.

If like me your doing it because its fun, and you hope to make your money back when BTC are worth $1,000,000 each then just keep your old kit and wait, if however this is a real money making exercise then you must increase your hash rate and keep an eye on energy prices if you want to turn a profit.


Correct Smiley

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Mentalfloss
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June 27, 2014, 07:10:24 PM
 #17104

WTF? Diff Increase 30%?
some more such increases and i have to sell my S1 Antminers Sad
damn electricity prices.



dude! haven't you seen what is still to be delivered? network hash rate will probably double by the end of summer.

I retired 18 Erupter Blades a few weeks ago and my S1's will no longer be profitable soon as well. The blades were running since September of last year and did well, the S1's covered their cost and just a little over. It makes me wonder how the guys who spent >$2,000 on terrahash units will be doing in a couple of months, do you think they'll manage to recover 50% of cost before they are fully depreciated?

Are you looking to sell any of them? Electricity doesn't cost me a thing so I might be interested.

I dumped them all on eBay. I paired them standing them up in an old ATX motherboard with a 350 watt power supply for each pair, advertising them as Bitcoin Starter Kits. All nine pairs went with Buy It Now purchases in 24 hours. Suckers...  Wink Even if electricity is free your time is not, and I don't know about anyone else but a pair of these takes too much attention to run for a month and earn a measly 0.01 at the next jump.
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June 27, 2014, 07:24:46 PM
 #17105

If the difficulty goes up and u have 900 gh and receive .01 as reward per block found does the reward for your work drop as the difficulty goes up?

Correct. That is why a cryptocurrency miner must continually increase their hashrate

Not correct, increasing difficulty will not alter your slush reward per round - just makes blocks harder to find and hence you find them less often...

Slightly correct Not exactly.  You would assume if the difficulty is increasing, the pool hash rate is at least increasing slightly.


Assuming your hash rate does not grow:
1) Pool hash rate is growing at the same rate as the network => Same rate of block finds, but you get a smaller reward per block.
2) Pool hash rate is shrinking proportionally to the network (IE: Network grows 30%, pool only grows 20%) => Lower rate of block finds, you get a smaller reward per block.
3) Pool hash rate doesn't change => Lower rate of block finds, you get the same reward per block.
4) Pool hash rate is growing faster than network growth rate => Faster rate of block finds, but you get smaller rewards per block

In all 4 scenarios though, your expected earnings are decreasing since your hash rate is stagnant while the network difficulty continues to grow.


I've bolded the one that is most likely given the current mining climate.  Manufacturers are continuing to build up private mining farms which effectively shrink the share traditional pools have of the network, since Bitcoin is a zero-sum game.  For every large private farm that comes online, the amount which pools are able to obtain shrinks.



EDIT:  Edited to clarify what I was responding to.

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nottm28
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June 27, 2014, 07:55:20 PM
 #17106

Slightly correct actually...

Nah. If the only thing to increase was difficulty then your reward per round on slush pool would not change. You'd just find fewer blocks...

Original statement was either 'correct' or 'incorrect' - mathematics knows of no 'slightly correct' - unless you bring in quantum theory...

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June 27, 2014, 08:03:40 PM
 #17107

Massive drop in network hash rate with 292 block to be solved before the next difficulty jump - coincidence?

Slush lost 1 PH/s (~25%)
Ghash lost 10 PH/s (~25%)

That's some power to be able to turn off 25% on the network...

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June 27, 2014, 08:33:08 PM
 #17108

And the rich get richer while we just mine away.............

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June 27, 2014, 08:33:25 PM
 #17109

Slightly correct actually...

Nah. If the only thing to increase was difficulty then your reward per round on slush pool would not change. You'd just find fewer blocks...

Original statement was either 'correct' or 'incorrect' - mathematics knows of no 'slightly correct' - unless you bring in quantum theory...


Edited post to clarify that I was responding to your statement about difficulty not affecting slush reward per round.

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nottm28
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June 27, 2014, 09:29:43 PM
 #17110

Slightly correct actually...

Nah. If the only thing to increase was difficulty then your reward per round on slush pool would not change. You'd just find fewer blocks...

Original statement was either 'correct' or 'incorrect' - mathematics knows of no 'slightly correct' - unless you bring in quantum theory...


Edited post to clarify that I was responding to your statement about difficulty not affecting slush reward per round.

Sorry to be pedantic:

...
2) Pool hash rate is shrinking proportionally to the network (IE: Network grows 30%, pool only grows 20%) => Lower rate of block finds, you get a smaller reward per block.

I've bolded the one that is most likely given the current mining climate.
...

Your bold'un is still not quite right.

As long as your hash rate increases proprtionally with the pool hash rate, then the no matter what happens with difficulty or network hash rate, your block reward will remain the same. You might find fewer blocks however but your block reward only goes down if you don't match the increases in your pool rate.

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lashworth
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June 27, 2014, 10:40:36 PM
 #17111

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.
Donkeycongo
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June 27, 2014, 11:23:23 PM
 #17112

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.

You should add some screenshots, visual aids help ppls help you

And i dunno about cpu's, they might be too slow to register

also where we in the middle of a long round, no results will show except for estimate reward until a block is solved.

(Edit) If your hell bent on using cpu's, you can add them to guiminer from memory, just add the same way you did your cards.

You should try script mining with the HW you have

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June 27, 2014, 11:58:39 PM
 #17113

Sorry to be pedantic:

...
2) Pool hash rate is shrinking proportionally to the network (IE: Network grows 30%, pool only grows 20%) => Lower rate of block finds, you get a smaller reward per block.

I've bolded the one that is most likely given the current mining climate.
...

Your bold'un is still not quite right.

As long as your hash rate increases proprtionally with the pool hash rate, then the no matter what happens with difficulty or network hash rate, your block reward will remain the same. You might find fewer blocks however but your block reward only goes down if you don't match the increases in your pool rate.

I clearly stated at the top of the numbered list "Assuming your hash rate does not grow".

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kkurtmann
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June 28, 2014, 04:13:31 AM
 #17114

way to duke it out

https://www.buytrezor.com?a=55c37b866c11   well sir, I like it!
kkurtmann
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June 28, 2014, 04:14:59 AM
 #17115

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.


all this is quite normal. you have too small of a portion of the entire network to even register. welcome to the pool Smiley

https://www.buytrezor.com?a=55c37b866c11   well sir, I like it!
Donkeycongo
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June 28, 2014, 05:33:17 AM
 #17116

way to duke it out

Grabs popcorn and a beer, hue hue
Donkeycongo
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June 28, 2014, 05:42:01 AM
 #17117

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.


all this is quite normal. you have too small of a portion of the entire network to even register. welcome to the pool Smiley

I added a GPU 7970 as new worker over an hour ago (Shits N Giggles), it pulls 627.4063295 Mh on Account page, but cannot confirm if it would get included in any reward as it on the same account as my others.

Wouldnt he would get something seeing slush goes down to .0000000 poompteenth bit now in its hourly average?
mstrongbow
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June 28, 2014, 07:20:13 AM
 #17118

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.


all this is quite normal. you have too small of a portion of the entire network to even register. welcome to the pool Smiley

I added a GPU 7970 as new worker over an hour ago (Shits N Giggles), it pulls 627.4063295 Mh on Account page, but cannot confirm if it would get included in any reward as it on the same account as my others.

Wouldnt he would get something seeing slush goes down to .0000000 poompteenth bit now in its hourly average?


How hot is that GPU running? I accidentally "quick switched" the coins on my rig (was playing with block erupters) and walked away...after less than an hour I received email notification from my mining software informing me a device exceeded a warning temperature. I checked the rig (gaming machine) and my 2x 5970's had been mining Bitcoin and were hot! I dont remember their hashrates tho


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Donkeycongo
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June 28, 2014, 09:28:56 AM
 #17119

I am a noob, but I really need help.  Not personal, just technical. I am using mining.bitcoin.cz and guiminer on my windows system.

My nvidia cards appear to be working properly, and data shows up on my account page just fine. I have a dual cpu 6-core xeon workstation and my cpus are on vacation most of the time, so I added rpcminer, and although guiminer show good results in Mhash/s nothing appears on my account page.  There's no way I can see what's going on except that the cores are all maxed, so something is happening but nothing appears on my account page.

I decided to use mining_proxy.exe and this allows me to at least see some activity from rpcminer but most of the msgs are requests asking for new work.
(2014-06-27 16:36:07,663 INFO proxy getwork_listener._on_authorized # Worker 'my_worker's name' asks for new work)

Is all this normal?

Thank-you for your help.


all this is quite normal. you have too small of a portion of the entire network to even register. welcome to the pool Smiley

I added a GPU 7970 as new worker over an hour ago (Shits N Giggles), it pulls 627.4063295 Mh on Account page, but cannot confirm if it would get included in any reward as it on the same account as my others.

Wouldnt he would get something seeing slush goes down to .0000000 poompteenth bit now in its hourly average?


How hot is that GPU running? I accidentally "quick switched" the coins on my rig (was playing with block erupters) and walked away...after less than an hour I received email notification from my mining software informing me a device exceeded a warning temperature. I checked the rig (gaming machine) and my 2x 5970's had been mining Bitcoin and were hot! I dont remember their hashrates tho

77c I have side case mounted fans from when i was running duel 5850's with no mounted fans just heat Pipe/sink mod, still have one of them gpu's crossfired, cpu is water cooled, so no heat in the box, everything inc cpu radiator is set to extract bar to side fans and 1 front over hdd's.

Just ran the 5850 as a miner, it peaks at 66c no mounted fans,, just air from the side case. It a good cool box, its getting old now, but the mobo GA-55-UDP didnt allow me to have duel 5850's with the heat sink mod - eg not enough space between cards and it is a large pipe when u add the fans, the original 5850 fans and casings ( that fit) would rattle and groan like old mother hubard at an orgy with no lube.

*EDIT 5850 pulls 230+ (the other 5850 might do more as it was less heat stressed over time from my fan set up)
so if you where to run a 7970+5850 still not hitting a Gh and the pwr used in micro btc, "forget about it" in my best ganster voice.
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June 28, 2014, 01:54:36 PM
 #17120

This place is rapidly becoming a boring nerd fest.
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