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Author Topic: BitMinter.com * Optional Custom Miner, PPLNS, Merged mining, Newbie-Friendly! *  (Read 207943 times)
DrHaribo
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August 13, 2013, 06:10:35 PM
 #1041

i have some questions.

i have ben running bitminter for abit more than 2days now, bitminter says that i wil earn around 0,009 pr day. but i only have 0.00516256 on my account, and i dont know if that is from some older mining. i also get alot of work reject.

http://imgur.com/eTaXndI

What's your reject to total work ratio? I would consider up to 0.5% to be normal.

Much of your 2 days of mining have not been paid yet. There's a delay from you do some work until it is fully paid (10 shifts). The payments are also influenced by luck and we had some bad luck just now.

Here is some information about how the reward system works:

The approximate mint speed shown in BitMinter client is just that, an approximation. Bitcoin mining is like a lottery. How often we find a block, and earn bitcoins from that block, is random. Each hash you process is like a lottery ticket. Each hash has a (very low) chance of producing a block. You get paid with coins from a block whenever a block is found by someone mining in the pool. Your share of the income from a block is determined by the amount of work that you did in the most recent 10 shifts at the time the block is found.

Because of this, your daily income will vary with luck. That's often referred to as variance. There may also be some hours between two payouts if we are having bad luck and no blocks are found for a while.

In addition to that there is a delay from the time you do some work until that work is fully paid. The work you do is registered in a shift, and then that work is credited with income from new blocks we find until its shift is no longer among the 10 latest shifts. This takes a few hours. If you turn off the prepay perk then there is an additional delay having to wait for blocks to confirm, which takes about 20 hours.

So, assuming you have prepay on, if you do 24 hours of work and then look at the results, then only some of that work has been fully paid. The remaining work is still receiving pay, even if you stop mining. Needless to say that is not going to look very profitable, when you are looking at all the work you did but only part of the pay you are going to receive.

Comparing pools by how much you get paid for 24 hours of mining is pointless. The comparison becomes "which pool has the best luck today?" You can't use that data for anything. The luck a pool has today has no influence on its luck tomorrow. Believing that it does is called "gambler's fallacy" which you can ready about on wikipedia:

  http://en.wikipedia.org/wiki/Gambler%27s_fallacy

If you want to know how BitMinter's payouts have been over time you can read Organofcorti's very detailed analysis here:

  http://organofcorti.blogspot.com/2013/05/131-bitminter-and-luck.html

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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blo8i
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August 13, 2013, 06:47:09 PM
 #1042

i have some questions.

i have ben running bitminter for abit more than 2days now, bitminter says that i wil earn around 0,009 pr day. but i only have 0.00516256 on my account, and i dont know if that is from some older mining. i also get alot of work reject.

http://imgur.com/eTaXndI

What's your reject to total work ratio? I would consider up to 0.5% to be normal.

Much of your 2 days of mining have not been paid yet. There's a delay from you do some work until it is fully paid (10 shifts). The payments are also influenced by luck and we had some bad luck just now.

Here is some information about how the reward system works:

The approximate mint speed shown in BitMinter client is just that, an approximation. Bitcoin mining is like a lottery. How often we find a block, and earn bitcoins from that block, is random. Each hash you process is like a lottery ticket. Each hash has a (very low) chance of producing a block. You get paid with coins from a block whenever a block is found by someone mining in the pool. Your share of the income from a block is determined by the amount of work that you did in the most recent 10 shifts at the time the block is found.

Because of this, your daily income will vary with luck. That's often referred to as variance. There may also be some hours between two payouts if we are having bad luck and no blocks are found for a while.

In addition to that there is a delay from the time you do some work until that work is fully paid. The work you do is registered in a shift, and then that work is credited with income from new blocks we find until its shift is no longer among the 10 latest shifts. This takes a few hours. If you turn off the prepay perk then there is an additional delay having to wait for blocks to confirm, which takes about 20 hours.

So, assuming you have prepay on, if you do 24 hours of work and then look at the results, then only some of that work has been fully paid. The remaining work is still receiving pay, even if you stop mining. Needless to say that is not going to look very profitable, when you are looking at all the work you did but only part of the pay you are going to receive.

Comparing pools by how much you get paid for 24 hours of mining is pointless. The comparison becomes "which pool has the best luck today?" You can't use that data for anything. The luck a pool has today has no influence on its luck tomorrow. Believing that it does is called "gambler's fallacy" which you can ready about on wikipedia:

  http://en.wikipedia.org/wiki/Gambler%27s_fallacy

If you want to know how BitMinter's payouts have been over time you can read Organofcorti's very detailed analysis here:

  http://organofcorti.blogspot.com/2013/05/131-bitminter-and-luck.html

96/27752*100=0.345% rejected

282/27752*100=1.016% miscalc

but thanks for the help Smiley

BitGold.com/r/Aa6xV5
DrHaribo
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August 13, 2013, 08:50:02 PM
 #1043

96/27752*100=0.345% rejected

282/27752*100=1.016% miscalc

but thanks for the help Smiley

Reject ratio seems ok. Miscalculations are a bit high, but normal for some ASIC products. If this is on GPU you are probably overclocking too much.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
elor70
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August 13, 2013, 08:52:57 PM
 #1044

Making only 0.66 dollar a day... Sounds awful...

addzz
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August 13, 2013, 08:56:53 PM
 #1045

your java based client is far and away the easiest to get started with mining.  Thanks for making it!

BTC: 14cDn8PeuNwhNXB6JYFWBuVpiq8EByboWR
aminkorea
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August 13, 2013, 10:22:14 PM
 #1046

what is with the excessively long block times? 18 hours on the last block and into 14 hours for the current round.  Is this going to be the norm from now on? 

Sorry if this is the wrong forum, but I'm new here and am still trying to find my way around.
blo8i
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August 13, 2013, 10:23:24 PM
 #1047

Making only 0.66 dollar a day... Sounds awful...

haha i know, but i just have 2 usd stucks pluged in while i am at my mothers place, when ii get back home, i get 2 more THATS LIKE 1$ a day Smiley

i just sold a amazon giftcard, so i hope i can hit the 2,700mega-hashes / second and then take it from there. i do this as a hobby, and i am a student, so i dont have the much to throw in this.

BitGold.com/r/Aa6xV5
DrHaribo
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August 13, 2013, 10:30:16 PM
 #1048

what is with the excessively long block times? 18 hours on the last block and into 14 hours for the current round.  Is this going to be the norm from now on? 

What the norm will be for round lengths will depend on our share of the global hashrate. As the global hashrate goes up our pool hashrate has to grow at the same rate for our average round lengths to stay the same.

When this pool was young and only had a few miners a round could take 7 days sometimes, which meant you only got a single payout that week. At the time we had a very small share of the global hashrate.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
GoWings97
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August 15, 2013, 01:54:07 AM
 #1049

The Bitminter client is not recognizing my ASICMiner Erupter. I restarted the Bitminter client several times and it is not finding the Erupter. What can I do?
addzz
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August 15, 2013, 10:35:00 AM
 #1050


When this pool was young and only had a few miners a round could take 7 days sometimes, which meant you only got a single payout that week. At the time we had a very small share of the global hashrate.


that seems like a situation where having the sounds turned on would be nice....... when I turn them on now it's just too much (mainly just proof of work accepted is).

BTC: 14cDn8PeuNwhNXB6JYFWBuVpiq8EByboWR
DrHaribo
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August 15, 2013, 12:00:04 PM
 #1051

The Bitminter client is not recognizing my ASICMiner Erupter. I restarted the Bitminter client several times and it is not finding the Erupter. What can I do?

Which operating system are you on? Does it show up as a serial port? You installed the driver?

What happens if you go "devices" -> "scan all ports" in the menu? Any messages in the log at the bottom of the window?

that seems like a situation where having the sounds turned on would be nice....... when I turn them on now it's just too much (mainly just proof of work accepted is).

You can turn off individual sounds. Try turning off the proof of work accepted and proof of work rejected sounds.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
addzz
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August 15, 2013, 12:48:17 PM
 #1052


You can turn off individual sounds. Try turning off the proof of work accepted and proof of work rejected sounds.


oh yeah I have them turned off... I just mean that back then it made more sense to have them on because maybe they would be spaced out more.

BTC: 14cDn8PeuNwhNXB6JYFWBuVpiq8EByboWR
KampBTC
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August 16, 2013, 03:52:01 PM
 #1053

Like the GUI, very easy to use. Thanks
aminkorea
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August 19, 2013, 04:38:56 AM
 #1054

Why are my workers not able to connect and the site shows 0.00 Th/sec? This is frustrating.
mrrad
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August 19, 2013, 05:04:46 AM
 #1055

same here
aminkorea
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August 19, 2013, 05:49:48 AM
 #1056

This happens way too often. 
DrHaribo
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August 19, 2013, 11:49:17 AM
 #1057

There was a problem with the live hashrates on the websites not working today. I will have a fix for this shortly so it won't happen again so easily. It has happened a few times over the last months. Apologies for the inconvenience, I know broken stats can be confusing.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
Toby
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August 19, 2013, 12:15:31 PM
 #1058

I always had a lower rejected percentage than the total: i.e. I had 0.35% and total would be 0,45%. But since the live stats are back, for the 2 blocks after that, I have a very high reject percentage. Around 4 to 5% (as time passes that percentage wil go down, but stays a few percent higher than total for the pool). Can I do something about that?
Toby
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August 19, 2013, 12:20:03 PM
 #1059

I have a 24% reject at the moment, while the total is 1.35%

36% ?! now

I will restart my miners, because I'm also between 80 and 90gh/s instead of 120gh/s
DrHaribo
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August 19, 2013, 12:21:10 PM
 #1060

24% rejected work is very very high. Is there a problem with your internet connection?

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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