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Question: What type of pool payouts do you prefer?
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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3933544 times)
bobsav2121
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August 07, 2014, 05:35:22 PM
 #17681

Something I don't understand.

We just had a block that took 29.5 hours.
Then we had a block that took 33 minutes.
I only got paid 13 cents more for the block that took 29 hours ?

The little voice in my head is confused.
Could someone give me the short and dirty explanation ?

bob

You get paid for each block found; time to find a block is irrelevant; found quickly or not is based on luck.
What you get paid for each block found is based (mostly) on the shares your miners contributed (how lucky they were)
On slush, reward also based on when you were mining the block if you weren't along for the whole ride (if you lose power and miners go down at beginning of round vs. going down at end of round you're luckier than vice-versa and your shares gained don't shrivel away)
So it depends on luck and luck and luck.


Well if that's the case then GHASH must have a horseshoe up their rear.  They keep plugging along at a steady pace and we are floundering.

What I meant by the first point is relative to pool hash rate but still true. Where round rates vary less on GHash (from seconds to hours) it's still based on luck. They hit the jackpot more because they bought more "lottery tickets" or have more pool hashing power (but how quickly still based on luck). Then of course each share is worth a lot less. But, at least you don't get penalized for dropping out during a round by your earned shares shriveling up.

I still dont quite understand what luck has to do with it , but whatever.
Yeah I have noticed the Slush hash rate varying quite a bit lately. People jumping to other sites when the blocks aren't coming, then coming back for whatever reason.
CEX 's rate seems to do nothing but climb, except for that incident a month or so ago when they announced they would keep their total rate under 39 % or something.
I know in the back of my head that it will PROBABLY even out in the long run, but the finish line is in sight as far as I'm concerned.
I dont think most miners will have the "time" they need.
With the soon to be skyrocketing difficulty people are going to find themselves at a negative ROI by Jan-Feb 2015.
So unless you have the latest power saving equipment or BTC price jumps dramatically ( which I don't think is going to happen ) I'm afraid a lot of people will find themselves stuck.
My self included, that's why I need the "steady" payout instead of hoping for the moon.

Bob
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iTzCorky
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August 07, 2014, 05:37:49 PM
 #17682

well I will give slush another 12 hours to find this block if not im gone somewhere else.
nottm28
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August 07, 2014, 05:42:30 PM
 #17683

well I will give slush another 12 hours to find this block if not im gone somewhere else.

Start with slush, all seems great when the luck is good, hit a few long blocks for a week or so, jump ship to ghash, get bored of the "consistency", come back to slush and ride the up down  wave - at least it's not boring...

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bobsav2121
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August 07, 2014, 06:52:04 PM
 #17684

well I will give slush another 12 hours to find this block if not im gone somewhere else.

Start with slush, all seems great when the luck is good, hit a few long blocks for a week or so, jump ship to ghash, get bored of the "consistency", come back to slush and ride the up down  wave - at least it's not boring...

The point a lot people are missing is the clock it ticking.. Do you really think this " mining " is going to last more than 1 year or so before it becomes a losing enterprise for most people unless you have the latest and greatest hardware, an even then the payouts will be less and less.
In the near future when all the "BTC" have been mined and there are no more " rewards" for mining, what then ?

All BTC will "mined" within 5 years maybe less, then no more " block" rewards.
The point I'm making is to  " make hay while the sun shines ". We dont have time to hang around waiting for things to " straighten out ".

Bob
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August 07, 2014, 07:00:56 PM
 #17685

In the near future when all the "BTC" have been mined and there are no more " rewards" for mining, what then ?
None of us will be alive in 2140 when that will happen.

Quote
All BTC will "mined" within 5 years maybe less, then now more " block" rewards.
Wrong - http://en.wikipedia.org/wiki/Bitcoin

Quote
The point I'm making is to  " make hay while the sun shines ". We dont have time to hang around waiting for things to " straighten out ".
"PATIENCE YOU MUST HAVE my young padawan"

BTC tips: 1KNK1akhpethhtcyhKTF2d3PWTQDUWUzHE
nottm28
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August 07, 2014, 07:01:55 PM
 #17686

well I will give slush another 12 hours to find this block if not im gone somewhere else.

Start with slush, all seems great when the luck is good, hit a few long blocks for a week or so, jump ship to ghash, get bored of the "consistency", come back to slush and ride the up down  wave - at least it's not boring...

The point a lot people are missing is the clock it ticking.. Do you really think this " mining " is going to last more than 1 year or so before it becomes a losing enterprise for most people unless you have the latest and greatest hardware, an even then the payouts will be less and less.
In the near future when all the "BTC" have been mined and there are no more " rewards" for mining, what then ?

All BTC will "mined" within 5 years maybe less, then now more " block" rewards.
The point I'm making is to  " make hay while the sun shines ". We dont have time to hang around waiting for things to " straighten out ".

Bob

Sigh - bitcoin wont be "all mined" in 5 years - you are looking at about 100 years away - current estimate is between 2110 and 2140.

Yes you will need to continually upgrade your hardware if everyone else is doing the same.

I've seen thousands of people like you pass through here with their pearls of wisdom. Read some stuff and find some stuff out. Stop blurting the first thing that comes into your head.

Start here: http://en.wikipedia.org/wiki/Bitcoin

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bobsav2121
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August 07, 2014, 07:19:01 PM
 #17687

well I will give slush another 12 hours to find this block if not im gone somewhere else.

Start with slush, all seems great when the luck is good, hit a few long blocks for a week or so, jump ship to ghash, get bored of the "consistency", come back to slush and ride the up down  wave - at least it's not boring...

The point a lot people are missing is the clock it ticking.. Do you really think this " mining " is going to last more than 1 year or so before it becomes a losing enterprise for most people unless you have the latest and greatest hardware, an even then the payouts will be less and less.
In the near future when all the "BTC" have been mined and there are no more " rewards" for mining, what then ?

All BTC will "mined" within 5 years maybe less, then now more " block" rewards.
The point I'm making is to  " make hay while the sun shines ". We dont have time to hang around waiting for things to " straighten out ".

Bob

Sigh - bitcoin wont be "all mined" in 5 years - you are looking at about 100 years away - current estimate is between 2110 and 2140.

Yes you will need to continually upgrade your hardware if everyone else is doing the same.

I've seen thousands of people like you pass through here with their pearls of wisdom. Read some stuff and find some stuff out. Stop blurting the first thing that comes into your head.

Start here: http://en.wikipedia.org/wiki/Bitcoin


Sorry!
I guess I'm not as friggin smart  as you.
Have a nice day
nottm28
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August 07, 2014, 07:20:23 PM
 #17688

well I will give slush another 12 hours to find this block if not im gone somewhere else.

Start with slush, all seems great when the luck is good, hit a few long blocks for a week or so, jump ship to ghash, get bored of the "consistency", come back to slush and ride the up down  wave - at least it's not boring...

The point a lot people are missing is the clock it ticking.. Do you really think this " mining " is going to last more than 1 year or so before it becomes a losing enterprise for most people unless you have the latest and greatest hardware, an even then the payouts will be less and less.
In the near future when all the "BTC" have been mined and there are no more " rewards" for mining, what then ?

All BTC will "mined" within 5 years maybe less, then now more " block" rewards.
The point I'm making is to  " make hay while the sun shines ". We dont have time to hang around waiting for things to " straighten out ".

Bob

Sigh - bitcoin wont be "all mined" in 5 years - you are looking at about 100 years away - current estimate is between 2110 and 2140.

Yes you will need to continually upgrade your hardware if everyone else is doing the same.

I've seen thousands of people like you pass through here with their pearls of wisdom. Read some stuff and find some stuff out. Stop blurting the first thing that comes into your head.

Start here: http://en.wikipedia.org/wiki/Bitcoin


Sorry!
I guess I'm not as friggin smart  as you.
Have a nice day

I can read if that's what you mean...

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Weed Stuff
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August 07, 2014, 07:42:32 PM
 #17689

interested what pool you use  ? i still understand about this . this like cloud mining ?
nottm28
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August 07, 2014, 08:18:16 PM
 #17690

interested what pool you use  ? i still understand about this . this like cloud mining ?

I use slush (this is the slush pool thread but not all people who post here mine here). There's a lot to understand when you first start but there are some good articles for newbies here...

https://bitcointalk.org/index.php?board=39.0

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xstr8guy
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August 07, 2014, 08:21:46 PM
 #17691

interested what pool you use  ? i still understand about this . this like cloud mining ?

Um, this is Slush's Pool thread. So let's assume that most people posting here are using Slush.  Wink

And no, this is nothing like cloud mining. You need hardware to pool mine.
bozo333
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August 07, 2014, 08:33:03 PM
 #17692

F... Slush!!!

Cursing won't help...

I do not won't to stick around until I just pay the electric company. Now divided between Ghash, BTCGuild and Slush (just token mining).
But BTCGuild has pretty awful bad luck streaks also. Makes me wonder if there may be other stuff going on as well.

We are not in a business run by saints nor the altruistic.

Anybody that can throw in 2cents worth about P2Pool mining?
Hitmouse
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August 07, 2014, 10:32:28 PM
 #17693

F... Slush!!!

Cursing won't help...

I do not won't to stick around until I just pay the electric company. Now divided between Ghash, BTCGuild and Slush (just token mining).
But BTCGuild has pretty awful bad luck streaks also. Makes me wonder if there may be other stuff going on as well.

We are not in a business run by saints nor the altruistic.

Anybody that can throw in 2cents worth about P2Pool mining?

P2Pool serves up a block about ever 6 to 24 hours. Sometimes a day and a half.  http://p2pool.info/ 
The software to setup is a bit buggy from my limited attempt. I thought it was a windows error so I set it up on Linux and got the same errors. It looks like it has potential but the proxy is just not ready for prime time from my experience.  Undecided
Billbags
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August 07, 2014, 10:49:22 PM
 #17694

F... Slush!!!

Cursing won't help...

I do not won't to stick around until I just pay the electric company. Now divided between Ghash, BTCGuild and Slush (just token mining).
But BTCGuild has pretty awful bad luck streaks also. Makes me wonder if there may be other stuff going on as well.

We are not in a business run by saints nor the altruistic.

Anybody that can throw in 2cents worth about P2Pool mining?

P2Pool serves up a block about ever 6 to 24 hours. Sometimes a day and a half.  http://p2pool.info/  
The software to setup is a bit buggy from my limited attempt. I thought it was a windows error so I set it up on Linux and got the same errors. It looks like it has potential but the proxy is just not ready for prime time from my experience.  Undecided

Just point your miner at someone's public node and it works perfict for P2pool. This link is a good place to start. Once you research and understand more you can run your own node if you like.


http://minefast.coincadence.com/index.html


Note: P2pool.org is not P2pool. There are several other stable public nodes ran by trusted bitcointalk.org members. If you use one make sure you have a good internet connection because latency can be an issue if you don't.


P2pool payout comparison:

https://bitcointalk.org/index.php?topic=416933.0


Listen: meat beat manifesto ~ Edge of no control (pt.1)
Read:"He who controls the past controls the future. He who controls the present controls the past." ~ George Orwell
Think: http://unenumerated.blogspot.com/2014/12/the-dawn-of-trustworthy-computing.html
kkurtmann
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August 08, 2014, 07:01:31 AM
 #17695

this bad luck streak seems just like back in Feb, March until we had an incredibly long good luck steak till a week or so ago. hopefully this bad luck streak is shorter.

all the newby theories above will look quite silly to them once they have read and learned how bitcoin and mining works.

https://www.buytrezor.com?a=55c37b866c11   well sir, I like it!
Searing
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August 08, 2014, 07:05:24 AM
 #17696

this bad luck streak seems just like back in Feb, March until we had an incredibly long good luck steak till a week or so ago. hopefully this bad luck streak is shorter.


statistically speaking does not the math imply..that eventually they have to balance out? ie this long luck street we had will now be matched by an equally long down streak?

(damn it scared self)

Searing

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August 08, 2014, 07:06:41 AM
 #17697

maybe, maybe not, that's how luck works, everything should balance out. may take a week a month or a year. i have been on this pool over 3 years and it always balances out and seemingly on the positive side ( dunno why, slush must be exceptionally lucky I guess)

https://www.buytrezor.com?a=55c37b866c11   well sir, I like it!
RogMiner
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August 08, 2014, 01:39:04 PM
 #17698

Pool luck is not really a measure of luck at all. Pool luck is a statistical calculation, like a probability; so for any given amount of hashing speed at a given difficulty level you should expect a certain return. This is like tossing a coin, if you toss it 50 times you should expect 25 heads and 25 tails, although you may not get exactly these proportions.

That's it plain and simple pool luck is a measure of probability and as we know from tossing coins (or probability studies at school) the more times you toss the coin the more chance you have of getting an equal number of heads and tails. Probability tells us that if we toss a coin twice we should expect 1 head and 1 tail, if this works out then our luck is 100%. Lets toss a coin 100 times, imagine we get 50 heads and 50 tails, again our luck is 100%, because we are getting the result that probability says we should get.

If the pool probability calculation says we should expect say 5 blocks in a day, then if we get 5 blocks out luck is 100%, if we solve 10 blocks a day then our luck is 200% and if we solve only 1 block a day then our luck is just 20%, but as with tossing a coin the more times we try the closer the overall result comes to 100%.

It is not surprising that Slush runs at about 100% luck over a long period of time as that is what you should expect from every pool, in fact any pool running significantly below 100% in the long term is probably cheating you as probability says that all pool should run at about 100% in the same way that you should get an even number of heads and tails.

for the noobs out there I will say that there will always be a variance in probability, in just the same way that you can maybe sometimes throw 5 heads in a row; this is normal and unpredictable, you could try chasing the variance by switching between pools in an attempt to only mine in a pool that is experiencing good luck but the chances are that you will be using pure guesswork to base your decisions on, and even though in the short term you may make some gains eventually the rules of probability will hit you and you will have a run of bad luck which will even your luck out to about 100%. The only real option is to choose your pool (or pools if that is what you want) and stick with it, you can console yourself with the thought that whenever you see a run of bad luck it is just getting you closer to your next run of good luck.

I hope this will make sense to everyone and stop people seeing conspiracies whenever the pool luck drops.
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August 08, 2014, 01:44:29 PM
 #17699

hi guys, can anyone advise me on import duty from china to uk via ups, i have just purchased 2 x s3 antminers at a total cost of 1.32 bitcoins approx £450.00p
could someone advise me what is the charge i will have to pay on import duty....thanks guys Huh Huh

nottm28
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August 08, 2014, 04:04:01 PM
 #17700

hi guys, can anyone advise me on import duty from china to uk via ups, i have just purchased 2 x s3 antminers at a total cost of 1.32 bitcoins approx £450.00p
could someone advise me what is the charge i will have to pay on import duty....thanks guys Huh Huh



I paid £201 to UPS for 4 miners - so I expect yours will be about £100 - they don't take cards btw - cash only or call the ups number 08457 877877 - option 0, 0 to pay by card when you know your miner is in the UK...

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