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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3852087 times)
nottm28
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June 07, 2013, 11:06:22 AM
 #9741

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.

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June 07, 2013, 11:11:02 AM
 #9742

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.
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June 07, 2013, 11:50:46 AM
 #9743

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.

So, with ~1GHs, that I have, I can expect to find the block - never, and constantly decreasing reward from mining? Right?  Cry

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kanta
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June 07, 2013, 12:08:35 PM
 #9744

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.

So, with ~1GHs, that I have, I can expect to find the block - never, and constantly decreasing reward from mining? Right?  Cry

Well, except for the part where the block is found faster so as your payments shrink, they come in faster. You have to look at the whole thing, not just part of it
EasyQuest
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June 07, 2013, 12:09:22 PM
 #9745

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.

So, with ~1GHs, that I have, I can expect to find the block - never, and constantly decreasing reward from mining? Right?  Cry

I remember about 3 months ago, I had about 4.0GH/s and the pool speed was growing and my rewards was around 0.025-0.03 but it was grown since and my speed has grown as well but I am stuck at 8.0GH/s with rewards of 0.013 to 0.015 :S No worries we solve blocks faster now.
nottm28
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June 07, 2013, 12:12:40 PM
 #9746

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.

So, with ~1GHs, that I have, I can expect to find the block - never, and constantly decreasing reward from mining? Right?  Cry

Fraid so... current network hash rate is approx 120000 GH/s - so if you wanted to follow arklan's (admirable) plan and maintain 0.1% of the total network hash rate - you would currently need to be mining with approx 120 GH/s.

If and when I finally get my bfl 30 GH/s I am going to move my GPU's to LTC mining - seems to be the preferred model according to some...

[EDIT] meant to link to this http://blockchain.info/charts/hash-rate

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arklan
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June 07, 2013, 12:16:49 PM
 #9747

Does anyone have, the "lower reward" syndrome?  Huh
After every round i got much lesser reward than usual... I am beginning to panic!
These are usually around 0.0025, but now
18452    2013-06-07 10:39:27    0:14:40    2847270    229    0.00187782    240218    25.28180000    98 confirmations left
18451    2013-06-07 10:24:47    0:36:58    7112700    622    0.00193577    240216    25.46560009    96 confirmations left
18450    2013-06-07 09:47:49    1:31:11    17439636    1328    0.00158006    240210    25.31299996    90 confirmations left

It's not hard to work out.

The overall bitcoin network hash rate is increasing rapidly whereas your own mining hash rate remains the same. So you will get less unless you increase your own personal hash rate in line with the overall bitcoin network hash rate.


and, in short, you have to do this FOREVER. thus, don't speak of a desired hashrate goal, but percentage of total network. personally i'm hoping to eventually maintain .1% of the whole.

So, with ~1GHs, that I have, I can expect to find the block - never, and constantly decreasing reward from mining? Right?  Cry

Fraid so... current network hash rate is approx 120000 GH/s - so if you wanted to follow arklan's (admirable) plan and maintain 0.1% of the total network hash rate - you would currently need to be mining with approx 120 GH/s.

If and when I finally get my bfl 30 GH/s I am going to move my GPU's to LTC mining - seems to be the preferred model according to some...

[EDIT] meant to link to this http://blockchain.info/charts/hash-rate


yea... i'm slightly far off from my stated goal... 6.5 ghash right now, and that's only cause of the USB miners...
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June 07, 2013, 12:26:12 PM
 #9748


yea... i'm slightly far off from my stated goal... 6.5 ghash right now, and that's only cause of the USB miners...

I just ordered 10 ASIC USB, so I will be getting 3.36 GH/s coming. Equals to about 11GH/s Getting them on Saturday.
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June 07, 2013, 12:39:46 PM
 #9749

I invested about 6 BTC in hardware a month ago, and thought that i will cover my expences for ~4-5 months with mining, but now it's just pointless!  Sad I can't keep up with this, maybe a couple more days and then back to wasting time and gaming...
Litecoins sounds good, but now, everybody with GPU mining rigs will switch over to them, while ASIC-s will mine BTC...

Game Over!

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arklan
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June 07, 2013, 01:32:46 PM
 #9750

i can't imagine that this kind of increase in difficulty will last too long. 6 months, a year at the outside, then we'll start to stabilize. ...i hope.
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June 07, 2013, 01:36:42 PM
 #9751

i can't imagine that this kind of increase in difficulty will last too long. 6 months, a year at the outside, then we'll start to stabilize. ...i hope.


The difficulty can go a long way in a year.  Especially with all the asics that have yet to ship...

Not to mention the fact that the asic manufacturers are going to start upping their game.  So there is a good chance that this will continue indefinitely...

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EasyQuest
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June 07, 2013, 01:41:01 PM
 #9752

i can't imagine that this kind of increase in difficulty will last too long. 6 months, a year at the outside, then we'll start to stabilize. ...i hope.

ASICs......... If people can manufacture them then more hashing power continue to be added to the market........ There is no stopping. ASICMiner, Avalon, and Butterfly Labs (Possibly more)  all can produce as much as they can but all know that difficulty will rise constantly so they hold off. Who knows these people can probably produce ASICs for litecoin as well meaning crypto currency is not just some poor man's rich dream with his computer but a rich man opportunity to make more money. :S
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June 07, 2013, 01:56:48 PM
 #9753

i can't imagine that this kind of increase in difficulty will last too long. 6 months, a year at the outside, then we'll start to stabilize. ...i hope.

ASICs......... If people can manufacture them then more hashing power continue to be added to the market........ There is no stopping. ASICMiner, Avalon, and Butterfly Labs (Possibly more)  all can produce as much as they can but all know that difficulty will rise constantly so they hold off. Who knows these people can probably produce ASICs for litecoin as well meaning crypto currency is not just some poor man's rich dream with his computer but a rich man opportunity to make more money. :S

I don't understand why ALIBABA doesn't have 30+ Chinese manufacturers creating Miners for sale.
You can find anything you want there, anything! with many many different companies making it.
Android TV devices there are pages and pages of copycat makers... what is taking them so long for Miners?!?
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June 07, 2013, 02:00:15 PM
 #9754

Basically, we are in an Arms Race. The people who increase their hash rate consistently will hold their own. Those who increase their hash rate at an increasing rate will pull ahead. Those who don't increase their hash rate will fall by the wayside. And just like in the Cold War, the winners will be the ones who manage to bankrupt their competition. Remember, this is just a game... Shocked

Oh, i did notice that Slush's pool has increased it's share by .3%. we are back to 10%.

*insert appropriate begging line here* 
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June 07, 2013, 02:22:24 PM
 #9755

Just the beginning I sacrificed a bit of my Hash Rate to gain much better infrastructure off Asics 3 months from now.  What I'm running now I'm hoping to be 10 times that by the end of the year.  Which really may just put me where I am right now lol.  But 10x of that would be 100x today and 10x that would be 1000x today.  Its not going to keep multiplying exponentially for very long ASIC or not.

Eric

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June 07, 2013, 02:29:36 PM
 #9756

I think ASIC will start the demise of bitcoin from the consumer point of view, if you cant mine for BTC why pay a premium to buy them when a debit card and amazon will be cheaper for any LEGAL goods you might want to buy. Speculation and slightly dodgy transactions is all people will want BTC for.
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June 07, 2013, 02:30:39 PM
 #9757

I think ASIC will start the demise of bitcoin from the consumer point of view, if you cant mine for BTC why pay a premium to buy them when a debit card and amazon will be cheaper for any LEGAL goods you might want to buy. Speculation and slightly dodgy transactions is all people will want BTC for.

Why cheaper?

Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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June 07, 2013, 02:32:05 PM
 #9758

I think ASIC will start the demise of bitcoin from the consumer point of view, if you cant mine for BTC why pay a premium to buy them when a debit card and amazon will be cheaper for any LEGAL goods you might want to buy. Speculation and slightly dodgy transactions is all people will want BTC for.

Fluctuations in price are nothing new.

In my opinion, It doesn't really matter.
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June 07, 2013, 02:39:12 PM
 #9759

I think ASIC will start the demise of bitcoin from the consumer point of view, if you cant mine for BTC why pay a premium to buy them when a debit card and amazon will be cheaper for any LEGAL goods you might want to buy. Speculation and slightly dodgy transactions is all people will want BTC for.

Or to keep from getting robbed aka Cyprus

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June 07, 2013, 02:51:40 PM
 #9760

I think ASIC will start the demise of bitcoin from the consumer point of view, if you cant mine for BTC why pay a premium to buy them when a debit card and amazon will be cheaper for any LEGAL goods you might want to buy. Speculation and slightly dodgy transactions is all people will want BTC for.

Why cheaper?


If you cant mine for coins you have to buy them, people selling BTC here in the UK charge a premium (up to about 10%), bank transfers to exchanges are pretty much non existent.
an item costing £80 on amazon is most likely going to cost more somewhere else e.g (insert Btc store here) due to lack of purchasing power.
And for newbies, the hassle of setting up the wallet, finding stores, obtaining Btc (no easy task)

Everyone can afford a GPU, not many can afford 2k+ for asic.
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