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

[bobsav2121]

I think its funny how people have come to believe that this magic cash cow will continue to give milk.
I've been mining with my own hardware since the beginning of the year.
From what I see is that home mining will soon come to a screeching halt.
Unless you have a way to cut your electric cost dramatically or the price of BTC skyrockets ( which is not going to happen ),
home mining will be over and done by early 2015.
The difficulty is going to skyrocket in the next few months, and like it or not the numbers dont lie.
Go to any BTC mining calculator and put in your  TRUE  numbers for power costs and speed and you will see what I mean.
Yes some people who have very low power costs and newer hardware that is more efficient will be able to hold on a few more months but anyone buying in now is done before they start.
It's not only the difficulty increase but what a lot of people don't know is that the BLOCK REWARD is soon to be cut if half.
Once that happens it doesn't matter what hardware you have you still dont have a chance.
Ok rant is over, good luck and it was fun while it lasted.
JMHO
Bob

There's still 100 000 blocks to be found before then.

Yeah but at what cost ?

[Billbags]

These are not my numbers, I'm just repeating what I've read from the major professional monetary firms that deal with this type of speculation. Once the bitcoin becomes more widely used as form of payment on the internet, the price will quickly jump to $100,000 a bitcoin. Once the total mined bitcoins get closer to the 21 million mark, the price will rise to $1,000,000 a bitcoin. Please don't shoot the messenger. Bitcoin was worth $48 a bitcoin this time last year.

[bobsav2121]

These are not my numbers, I'm just repeating what I've read from the major professional monetary firms that deal with this type of speculation. Once the bitcoin becomes more widely used as form of payment on the internet, the price will quickly jump to $100,000 a bitcoin. Once the total mined bitcoins get closer to the 21 million mark, the price will rise to $1,000,000 a bitcoin. Please don't shoot the messenger. Bitcoin was worth $48 a bitcoin this time last year.

Yeah but the problem is that its not being adopted by the masses .
Yeah some stores are  accepting it but they immediately sell it and convert to fiat.
All the selling is keeping the price stagnant .

The average mom and pop have no friggin clue what BTC is.
Plus there are some BIG players that have a stranglehold on the market and can just about do whatever they want.
Until BTC becomes a household word I'm afraid were spinning our wheels and as always  the big guys with deep pockets manipulate the price the way they want and make the profit.

[Billbags]

^ You are exactly right. I'm hoping these new stand alone wallets will help that out along with bitpay service growing bigger.

[oskuro]

Seriously??? Is this REAL?:

22744    2014-09-05 23:47:22    16:38:03    94748423641    20309840    0.00000379    319285    25.08303967    99 confirmaciones pendientes

i have been mining this last block like 95% of it. Just left and started mining on another pool because im testing pools.

And i just receive 0.00000379?? 16 hours block, and i have been mining it like 15 hours, and i receive that? WHY? because when block was solved next hour, i had my miners off???

that suks really..........



i have double shares than previous block and i receive 0.00000379 BTC???

[Billbags]

This is a score based pool(most are pplns which are even more strict) so when you leave you loose the value from the shares of blocks not solved yet and when you come back it takes some time to build back up. Pool hopping doesn't work. It's programmed into a pools software to make you loose profits thus preventing cheating by hopping around to pools having good luck at that time.

[oskuro]

This is a score based pool(most are pplns which are even more strict) so when you leave you loose and when you come back it takes some time to build back up. Pool hopping doesn't work. It's programmed into a pools software to make you loose profits thus preventing cheating by hopping around to pools having good luck at that time.

so i mine 15 of 16 hours and instead of earning 0.00625253 BTC for example, i earn 0.00000379 Just for 1 hour without mining???

Wow SO FAIR yeah..........

[Billbags]

Right, until that block is solved and confirming, you loose shares if you leave. There is a small delay, but it will go to zero reward quickly.

Note: These practices were put in place quickly by the pools because of cheating. People had wrote papers on techniques to pool hop and miners were abusing the network. So pools implemented hop proof software.

[oskuro]

Right, until that block is solved and confirming, you loose shares if you leave. There is a small delay, but it will go to zero reward eventually.

its so much in 1 hour, if i mined 15 hours to receive nothing......... but ok...

[Billbags]

I learned the hard way also. Now I just "set it and forget it".

[bobsav2121]

I learned the hard way also. Now I just "set it and forget it".

Yeah but what sucks is if  you have a internet or power problem that takes your machines down you get penalized

[oskuro]

I learned the hard way also. Now I just "set it and forget it".

Yeah but what sucks is if  you have a internet or power problem that takes your machines down you get penalized

+1... that system is not fair. Then it's not pps because I had all those shares and i received nothing because I just mined 15/16 hours . 15 hours lost . Fukin great system

[Billbags]

I think only a few like polmine and discus fish are PPS now, but they charge a lot for it.

[sjc1490]

I learned the hard way also. Now I just "set it and forget it".

Yeah but what sucks is if  you have a internet or power problem that takes your machines down you get penalized

+1... that system is not fair. Then it's not pps because I had all those shares and i received nothing because I just mined 15/16 hours . 15 hours lost . Fukin great system

There is a whole thread on Pools if you aren't happy here: https://bitcointalk.org/index.php?board=41.0

All pools have some sort of penalty to prevent hopping which is what you did do. We all have been bit by it.

[eleuthria]

All pools have some sort of penalty to prevent hopping which is what you did do. We all have been bit by it.

No, actually Slush is pretty much the ONLY pool with an actual *penalty* to people that leave, by constantly degrading old submissions so they rapidly become worthless.  With PPLNS, the expected value of your share is the same whether you stop mining the second you submit it or you keep mining.  With PPS, your share has a pre-determined value.  With Eligius' CPPSRB, it's the same.  Those are really the 3 dominant payment methods used by all major pools these days, and all 3 are anti-hopping by being unhoppable, not by trying to penalize users if they leave the pool.

EDIT:  And for the post below:  Slush's score system is hoppable.  It's just not hopped much because the profitability of pool hopping is virtually 0 when there aren't multiple large hoppable pools, so nobody bothers anymore.

[bspurloc]

I learned the hard way also. Now I just "set it and forget it".

Yeah but what sucks is if  you have a internet or power problem that takes your machines down you get penalized

+1... that system is not fair. Then it's not pps because I had all those shares and i received nothing because I just mined 15/16 hours . 15 hours lost . Fukin great system

and if u came into the 16 hour block with 30minutes left u would have got paid like u were here all 16 hours.
basically if you dont like it dont mine slush.

it stops pool hopping.

[sjc1490]

All pools have some sort of penalty to prevent hopping which is what you did do. We all have been bit by it.

No, actually Slush is pretty much the ONLY pool with an actual *penalty* to people that leave, by constantly degrading old submissions so they rapidly become worthless.  With PPLNS, the expected value of your share is the same whether you stop mining the second you submit it or you keep mining.  With PPS, your share has a pre-determined value.  With Eligius' CPPSRB, it's the same.  Those are really the 3 dominant payment methods used by all major pools these days, and all 3 are anti-hopping by being unhoppable, not by trying to penalize users if they leave the pool.

EDIT:  And for the post below:  Slush's score system is hoppable.  It's just not hopped much because the profitability of pool hopping is virtually 0 when there aren't multiple large hoppable pools, so nobody bothers anymore.

I stand corrected "penalty" might not be the correct wording in referring to the other pools, but it is the anti hopping mechanism in place here (as the loss itself will discourage hopping).

[eoakland]

I learned the hard way also. Now I just "set it and forget it".

Yeah but what sucks is if  you have a internet or power problem that takes your machines down you get penalized

+1... that system is not fair. Then it's not pps because I had all those shares and i received nothing because I just mined 15/16 hours . 15 hours lost . Fukin great system

Oskuro, oyes loco...yo me arte de los blockes de slush, de ves en cuando se me va el senal de internet y todo el tiempo que dure minando esta perdido.  me cambie a Ghash.  como dice 3Ball MTY "intentalo" alamejor te gusta mas. 

eoakland

[kcal63]

ok my dance doesn't seem to be working this time. Someone else's turn to find the right rain dance

and yeah we all get frustrated when a miner or pi craps out 3 minutes before a 23 hour block is solved and your payout is 1/2 what it would have been but so it goes. If you want straight PPS there are other pools out there, please find one, I would like a bigger share of my favorite slushy.

[kkurtmann]

yes, all you whiners leave so we can have your share of the pie