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Author Topic: [4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool  (Read 4342134 times)
bozo333
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August 08, 2014, 10:29:30 PM
 #17681

slush found 9 blocks in the last 24 hours. seems pretty lucky to me.

You are free to fool yourself if you only look at 'good' data.  Grin That's why the really successful trade outfits (consider ours to be one of them) will never rely on a person interpreting a chart or whatever, because most see only what they want to see. I understand most here are hobbyists doing this on the side but there is much to be gained to treat any endeavor with utmost attention to detail.

   
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dbbrummel
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August 09, 2014, 03:15:49 AM
 #17682

The 'best' you can do in mining is join a pool so big it always makes you a little money.
There are freight trains and there are roller coasters. I find it interesting that Slush has
had a great day, even with lower pool GH/s and an increased LOD. If I can find this man
I will buy him a beer.
Billbags
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August 09, 2014, 03:53:49 AM
 #17683

Slush should be releasing the new website shortly. I can't wait to see/use it!!!

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
andyjjones
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August 09, 2014, 06:00:36 AM
 #17684

Over the last 1-2 months, what has been the average block finding time on Slush?
RoadStress
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August 09, 2014, 06:12:08 AM
 #17685

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.

Your explanations are good and make sense, however they do not take into account that sh*t can and does happen. I work for a private fund that has lost millions over the last 10 years to outfits like Madoff, Corzine, EDF Mann etc. Yet we are still around, which kinda lets you deduce that there must be substantial funds at work here ;-)

Those were all bona fide, on-the-level, trustworthy outfits...until they collapsed with a ton of money, including ours. And take note of this curious fact: Money never disappears, it's just that somebody else has it. So, without implying that Slush or anybody is skimming, is crooked, or whatever... You cannot blindly go through life like a clown on a minefield, hoping that nothing will ever go wrong and there is no evil.

For someone who works for a private funds you have little knowledge about how bitcoin mining works. A pool being unlucky doesn't mean that someone else is gaining that pool's money. Every pool has the same change of getting a block. What matters is only the speed of the pool in relate to how many block should that pool find on average. Imagine the pools as separate people tossing a coin. The faster pools just toss the coin faster, but everyone has a 50%-50% chance of hitting one side of the coin. Some may hit heads 5-10 times in a row, but they are not influencing each other. The luck is individual.

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
AFlatMinor
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August 09, 2014, 06:43:52 AM
 #17686

Over the last 1-2 months, what has been the average block finding time on Slush?


For the last 54 days

Average Block Time
4:11:11

Blocks/day
5.74
kcal63
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August 09, 2014, 07:56:05 AM
 #17687

Well it worked. Everyone do my block dance. I did and it started raining blocks after the drought  Grin
Gonna have to post "The Slush Block Dance" on Youtube so you can all follow along.
As my Grandmother said, "It all comes out in the wash".
An average is just that, what it will average over a longer period, not what to expect every day.
 
bobsav2121
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August 09, 2014, 02:44:21 PM
 #17688

Over the last 1-2 months, what has been the average block finding time on Slush?


For the last 54 days

Average Block Time
4:11:11

Blocks/day
5.74


Is there somewhere to track these figures or did you manually tally them.?

Bob
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August 09, 2014, 02:49:13 PM
 #17689

I just want to say thanks to Slushy for still running this great pool. I've be out of mining for a bout a year now but I'm back up and running again. Last year I blew my graphics card and then went with the BFL for a miner which failed. Now thoughh I have a couple of Antminer S3's. Cheers Slushy Smiley
bozo333
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August 09, 2014, 02:50:53 PM
 #17690

Over the last 1-2 months, what has been the average block finding time on Slush?


For the last 54 days

Average Block Time
4:11:11

Blocks/day
5.74


Would be interesting to see how the blocks per day changed with each difficulty increase!

   
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AFlatMinor
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August 09, 2014, 09:27:11 PM
 #17691

Over the last 1-2 months, what has been the average block finding time on Slush?


For the last 54 days

Average Block Time
4:11:11

Blocks/day
5.74


Would be interesting to see how the blocks per day changed with each difficulty increase!



What was the date of that?
bozo333
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August 09, 2014, 10:07:09 PM
 #17692

List of all BTC difficulty dates

https://bitcoinwisdom.com/bitcoin/difficulty

   
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RogMiner
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August 10, 2014, 02:35:43 PM
 #17693

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.

Your explanations are good and make sense, however they do not take into account that sh*t can and does happen. I work for a private fund that has lost millions over the last 10 years to outfits like Madoff, Corzine, EDF Mann etc. Yet we are still around, which kinda lets you deduce that there must be substantial funds at work here ;-)

Those were all bona fide, on-the-level, trustworthy outfits...until they collapsed with a ton of money, including ours. And take note of this curious fact: Money never disappears, it's just that somebody else has it. So, without implying that Slush or anybody is skimming, is crooked, or whatever... You cannot blindly go through life like a clown on a minefield, hoping that nothing will ever go wrong and there is no evil.

I am note sure I follow your logic here, Slush is not an investment fund it is a mining outfit, therefore the only sh*t that happens comes within the rules of probability. Slush does hold our bitcoins so there is a potential that he could shut up shop and run away with all the unpaid bitcoins, however setting your payment level at the minimum allowed and switching pools if a payment is late can go some way towards mitigating such a risk.

I would guess that as an investment fund you probably invest in shares, and by the sounds of things in shares with a high risk/return potential so you shouldn't be surprised when sh*t happens, in fact it should be a part of your investment strategy. If you are investing in shares then you should realise that a funds value is just virtual until it is crystallised by a sale of the shares. This means that if you invest say £10M in Google and it doubles to £20M then you have on paper a £10M profit but that £10M profit only really exists if you sell the shares. If before you sell those shares they drop back to £10M then you could say that you have made a £10M loss, but in reality you never realised the 10M profit so you have just broken even, in such an example the £10M never really existed so it isn't true that "somebody else has it", it really did never exist.

It is not the case that I "go blindly through life like a clown on a minefield" (although I do struggle to understand your analogy), I take the time to understand the risks and rather that trusting Slush not to do me out of bitcoins, I use statistics to ensure that the returns from Slush are within a margin of acceptability.

It's easy to through about inaccurate analogies, or to imply some wrongdoing this is why there are so many conspiracy theories in the world; considering the existence of a conspiracy or of pure evil without first ruling out the alternatives is a sign of a weak mind, or poor cognitive ability.

As luck seems to be back with us now we could deduce that the rules of probability are just demonstrating their usual variance, although some may say that this is evidence of some higher force reacting top the negative comments posted here, personally I like the rain dance theory and look forward to seeing the video.
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August 10, 2014, 03:26:27 PM
 #17694

I may have been away for a while but there has always been good days and bad. Some worse than others like when Slushy's pool was under dos attacks. The one thing though has always been that Slushy has striven to do his best for all of his customers on the pool. I know he gets his cut which he truly deserves but I am still thankful to him for all the hard work he puts in.  Smiley
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August 10, 2014, 03:27:49 PM
 #17695

+1 to RogMiner!
bobsav2121
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August 10, 2014, 05:05:25 PM
 #17696

Keep on dancin  Wink

Please
bobsav2121
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August 10, 2014, 05:12:04 PM
 #17697

Could someone give me the plain English version of what it is EXACTLY that we are "mining" for ?
I understand we are processing " transactions" but what is it that we find that " solves " a block and finishes it. ?

That is the part of this I dont understand.

People talk about the  " height " of the blockchain, what the hell is that supposed to mean.

I've watch Antonopolis or what ever his name is and he just throws out all these fancy terms that most people dont understand but they
all sit there and nod as he babbles on.

I would like to know what we are looking for ?

Bob
Billbags
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August 10, 2014, 05:23:11 PM
 #17698

This should help with your bitcoin questions. A lot of information is covered in the following links:

https://self-evident.org/?p=971

http://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-overview

www.reddit.com/r/Bitcoin/comments/17so2c/explain_bitcoins_like_im_a_mathcs_undergrad/

https://bitcoin.org/en/how-it-works

Note: The first link goes to a page of a series of papers where everything is in layman's terms. It's problably the best technical explanation of bitcoin you can find. You can use links at the top left of each page to see the entire 10 pages.

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
RogMiner
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August 10, 2014, 05:39:00 PM
 #17699

Could someone give me the plain English version of what it is EXACTLY that we are "mining" for ?
I understand we are processing " transactions" but what is it that we find that " solves " a block and finishes it. ?

That is the part of this I dont understand.

People talk about the  " height " of the blockchain, what the hell is that supposed to mean.

I've watch Antonopolis or what ever his name is and he just throws out all these fancy terms that most people dont understand but they
all sit there and nod as he babbles on.

I would like to know what we are looking for ?

Bob

I think you will find a reasonable explanation here http://www.coindesk.com/information/how-bitcoin-mining-works/ . However the short answer is that we are coding a block into a hash (a string of letters and numbers), once we have coded the entire block into a hash the pool gets a reward and we get a share of that reward. A block is a list of bitcoin transactions over a period of time.

So in a sense we are not looking for anything (as we are just coding); but you could say we are looking for unsolved blocks and as these unsolved blocks represent 25 bitcoins you could say we are looking for bitcoins.

Unless you want to get really technical I would suggest that you consider that we are digging in the earth looking for little clumps of bitcoins, in just the same way as some people dig in the earth and pan for gold. This isn't at all accurate but it does paint a nice picture in your mind, just imagine all your little asics with pick axes digging through the ground.
andyjjones
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August 10, 2014, 05:40:10 PM
 #17700

I understand we are processing " transactions" but what is it that we find that " solves " a block and finishes it. ?
I'm a newbie but I understand it this way.  When we solve a block, we solve a math equation whose difficulty is artificially inflated.
It's artificially inflated so that blocks are not solved too quickly, and hence maintains the systems integrity.
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