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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3858549 times)
digital
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June 07, 2013, 07:13:30 PM
 #9781

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

If I help you out: 17QatvSdciyv2zsdAbphDEUzST1S6x46c3
References (bitcointalk.org/index.php?topic=): 50051.20  50051.100  53668.0  53788.0  53571.0  53571.0  52212.0  50729.0  114804.0  115468  78106  69061  58572  54747
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bigbeninlondon
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June 07, 2013, 07:15:20 PM
 #9782

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.
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June 07, 2013, 07:17:07 PM
 #9783

Checked the Gox graph lately? The last time BTC prices crashed this hard, Dwolla had just gotten snuffed out. Any idea what we're looking at this time? My guess is it has something to do with their policy change about account verification for fiat currency withdraws. Suppose it's going to jump back again? If so, it's a great time to swap your Gox dollars for BTC and sell them elsewhere if you don't just use them up instead. If it stabilizes at around $100, no big deal, still worth it for me. If it keeps dropping... Party's over! Everyone out of the pool. ASIC owners will enjoy their fancy bricks while GPU miners play games at max video settings.

It's really not much to worry about.  If you'd have been watching the price for the last two years you would realize that this is the most stable it has been since it was around $5 / btc.  The price of btc has been super volatile over the last 2-3 years...

Nothing to see here, move along...


Digital, you mentioned virwox as one of you're btc selling sites of choice. Does it take a while to get usd out of there? I've got a bunch in BTC-E i'm gonna unload when the price recovers and need a better/faster place to dump some coins. Thanks in advance.
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June 07, 2013, 07:21:54 PM
 #9784

incase people haven't realised it, the easiest way to turn BTCs into US$ is to buy ASICminers and sell them on eBay. heh.

*insert appropriate begging line here* 
BTC: 1CS6AV7VnjcPLxaTFoUhTjXK4mQCTzfSxE
Doge: DB22tiynvXKg7SyPpnH9jyfitKLTZb6ejc
auseeker
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June 07, 2013, 07:24:38 PM
 #9785

incase people haven't realised it, the easiest way to turn BTCs into US$ is to buy ASICminers and sell them on eBay. heh.


lol i bought 1 in arklan's group buy and its mining away happily right now. Was gonna buy more and sell on ebay, but everyone else has the same idea and the price will adjust itself accordingly i'm guessing.
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June 07, 2013, 07:27:33 PM
 #9786

incase people haven't realised it, the easiest way to turn BTCs into US$ is to buy ASICminers and sell them on eBay. heh.


lol i bought 1 in arklan's group buy and its mining away happily right now. Was gonna buy more and sell on ebay, but everyone else has the same idea and the price will adjust itself accordingly i'm guessing.

yeah but the price shouldn't drop below the exchange rate, otherwise it makes more sense to use them yourself.

*insert appropriate begging line here* 
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nottm28
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June 07, 2013, 07:32:31 PM
 #9787

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

Your hash rate should be stable - it will fluctuate slightly depending on individual worker luck - but if you had about 2 GH/s last week, then you should still have 2 GH/s this week. This is regardless of difficulty increases, increases in the pool hash rate or increases in the network hash rate.

That is the easy bit - your own hash rate is a relative constant.

Now, assuming your own hash rate remains constant (and you not adding in lots of usb miners - so you stay at 2 GH/s):

1) If the pool hash rate increases but the total network hash rate stays the same (so in other words, other existing miners move their rigs over to slush's pool)?

Then you should expect to find blocks more frequently - but your share of the payouts will go down slightly. Net effect is you earn the same over a week.

2) If slush's pool hash rate remains the same but the overall network hash rate increases?

Then you should expect to find blocks less frequently - but your share of the payouts will remain the same. Net effect is you earn less per week.

3) More typically, if slush's pool hash rate increases and the total network hash rate increases proportionally?

Then you should expect to find blocks relatively consistently - but your share of the payouts will go down. Net effect is you earn less per week.

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digital
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June 07, 2013, 07:38:19 PM
 #9788


Digital, you mentioned virwox as one of you're btc selling sites of choice. Does it take a while to get usd out of there? I've got a bunch in BTC-E i'm gonna unload when the price recovers and need a better/faster place to dump some coins. Thanks in advance.

Not at all.  But only if you use paypal.

I always use paypal.  Usually it takes a couple hours total.  And that includes confirmations.

Here's the process (it was a little confusing for me at first):

You deposit btc into your virwox wallett, wait for them to confirm
Sell the BTC for SLL
Sell the SLL for USD
Withdraw the USD via paypal.

Sometimes there is a delay before the paypal transaction gets proessed, but I've never had the total process take more than 6 hours.  And it works just as easy in reverse.  In my opinion it's the best way to buy and sell btc via paypal.

EDIT:  Fair warning though, it tends to be a little more pricey than waiting.  But for me it's worth the extra cost for getting my money (or btc) fast.

If I help you out: 17QatvSdciyv2zsdAbphDEUzST1S6x46c3
References (bitcointalk.org/index.php?topic=): 50051.20  50051.100  53668.0  53788.0  53571.0  53571.0  52212.0  50729.0  114804.0  115468  78106  69061  58572  54747
digital
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June 07, 2013, 07:43:09 PM
 #9789

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

nottm28 covered it in pretty good detail, but yeah you should see the same hashrate, but with a little LOWER payout, just as often.  At least in the current circumstances, where the total hash rate keeps going up.

And keep in mind, this is all talking in averages.  There will be variance in all the numbers, but they even out over time.

If I help you out: 17QatvSdciyv2zsdAbphDEUzST1S6x46c3
References (bitcointalk.org/index.php?topic=): 50051.20  50051.100  53668.0  53788.0  53571.0  53571.0  52212.0  50729.0  114804.0  115468  78106  69061  58572  54747
KNK
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June 07, 2013, 07:50:05 PM
 #9790

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

Your hash rate should be stable - it will fluctuate slightly depending on individual worker luck - but if you had about 2 GH/s last week, then you should still have 2 GH/s this week. This is regardless of difficulty increases, increases in the pool hash rate or increases in the network has rate.

That is the easy bit - your own hash rate is a relative constant.

Absolutely agree. I just want to add that if you have connection problems or the machine is by some reason lagged/busy (you play games or watching a movie) - you may expect some drops in your hashrate.

Another case is if you are load balancing between several pools (like me) - you may see quite a lot of fluctuations in hashrate per pool, based on connection delay to the pool, because of routing or busy (hence slow) server

BTC tips: 1KNK1akhpethhtcyhKTF2d3PWTQDUWUzHE
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June 07, 2013, 07:55:50 PM
 #9791


Digital, you mentioned virwox as one of you're btc selling sites of choice. Does it take a while to get usd out of there? I've got a bunch in BTC-E i'm gonna unload when the price recovers and need a better/faster place to dump some coins. Thanks in advance.

Not at all.  But only if you use paypal.

I always use paypal.  Usually it takes a couple hours total.  And that includes confirmations.

Here's the process (it was a little confusing for me at first):

You deposit btc into your virwox wallett, wait for them to confirm
Sell the BTC for SLL
Sell the SLL for USD
Withdraw the USD via paypal.

Sometimes there is a delay before the paypal transaction gets proessed, but I've never had the total process take more than 6 hours.  And it works just as easy in reverse.  In my opinion it's the best way to buy and sell btc via paypal.

EDIT:  Fair warning though, it tends to be a little more pricey than waiting.  But for me it's worth the extra cost for getting my money (or btc) fast.

Awesome!! Thanks for the advice on the steps to process the transaction. The speed i can withdraw my money is worth it to me as well. Looks like a nice alternative to the time intensive process i've been thru with coinbase. Thanks again!
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June 07, 2013, 08:14:18 PM
 #9792

Also wanted to to say that the difficulty increases are simply an indicator that the overall network hash rate is increasing. Each bitcoin block is, by design, meant to be found every 10 minutes on average. If a load of new asic miners come online, then clearly that 10 mins will become 8 mins or 7 say. So 'they' increase the difficulty so that we are back to on average 1 block per 10 mins.

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June 07, 2013, 08:54:05 PM
 #9793

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

er I misread....
....

  DIFF with NOT effect your worker hashrate.
Is it HOTTER in your area today? are you mining GPU's? look at the AMD Application does it say your GPU is locked at 95%?
when temps go up the AMD application does odd things. it will lock the GPU at a certain % or the card itself will cut the power etc etc...
nottm28
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June 07, 2013, 08:58:33 PM
 #9794

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

no. the person that replied to you did not understand or fully read what your said as their reply was correct but did not answer your question.
  DIFF with NOT effect your worker hashrate.
Is it HOTTER in your area today? are you mining GPU's? look at the AMD Application does it say your GPU is locked at 95%?
when temps go up the AMD application does odd things. it will lock the GPU at a certain % or the card itself will cut the power etc etc...

umm I am 'the person' and I think I did understand - but thanks for your post Smiley

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June 07, 2013, 09:00:33 PM
 #9795

The difficulty changes are designed to keep blocks being found at a steady pace.  So when the total hash rate of the network goes up, and blocks start getting found faster, the difficulty will go up so that blocks will continue to be found at the same rate.

That's how we can predict when the next block halving will be.  It's all about math.  And the reason your reward goes down, is because there is more hashing power finding about the same amount of blocks.  So if you don't increase your hash power at the same rate the network/pool hash rate increases, then your share of the pie will get smaller.

So the lower hashrate is specific to me, correct?  What I SHOULD see is the same hashrate, the same payout just less often.

no. the person that replied to you did not understand or fully read what your said as their reply was correct but did not answer your question.
  DIFF with NOT effect your worker hashrate.
Is it HOTTER in your area today? are you mining GPU's? look at the AMD Application does it say your GPU is locked at 95%?
when temps go up the AMD application does odd things. it will lock the GPU at a certain % or the card itself will cut the power etc etc...

umm I am 'the person' and I think I did understand - but thanks for your post Smiley

yeah ignore me i misread! your explanation was perfect
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June 07, 2013, 09:01:36 PM
 #9796

Yeah, bigbeninlondon responded to my post about the difficulty, which was not related to his question about his hash rate.

Although, nottm28 did respond to bigbeninlondon with a fairly complete answer...

And that's the problem with 15 people lurking in this thread.  4 new pages a day makes it hard to keep track of anything.

If I help you out: 17QatvSdciyv2zsdAbphDEUzST1S6x46c3
References (bitcointalk.org/index.php?topic=): 50051.20  50051.100  53668.0  53788.0  53571.0  53571.0  52212.0  50729.0  114804.0  115468  78106  69061  58572  54747
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June 07, 2013, 09:17:03 PM
 #9797

Yeah, bigbeninlondon responded to my post about the difficulty, which was not related to his question about his hash rate.

Although, nottm28 did respond to bigbeninlondon with a fairly complete answer...

And that's the problem with 15 people lurking in this thread.  4 new pages a day makes it hard to keep track of anything.

That is the point of a Forum.  I Corrected what I said right after I read what I posted but it was too late....

So the question still is open... why has his/her personal miners hashrate dropped. I say heat....
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June 07, 2013, 09:22:45 PM
 #9798

Yeah, bigbeninlondon responded to my post about the difficulty, which was not related to his question about his hash rate.

Although, nottm28 did respond to bigbeninlondon with a fairly complete answer...

And that's the problem with 15 people lurking in this thread.  4 new pages a day makes it hard to keep track of anything.

That is the point of a Forum.  I Corrected what I said right after I read what I posted but it was too late....

So the question still is open... why has his/her personal miners hashrate dropped. I say heat....

Could be heat - sometimes I just need to 'bounce' my workers...

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June 07, 2013, 09:23:46 PM
 #9799

Yeah, bigbeninlondon responded to my post about the difficulty, which was not related to his question about his hash rate.

Although, nottm28 did respond to bigbeninlondon with a fairly complete answer...

And that's the problem with 15 people lurking in this thread.  4 new pages a day makes it hard to keep track of anything.

slush created a monster - he must love it Smiley

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June 07, 2013, 09:35:09 PM
 #9800

Please don't kill getwork. the noobs are already bad enough as is! Seriously irc sucks right now.
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