BitMinter.com * Optional Custom Miner, PPLNS, Merged mining, Newbie-Friendly! *

[ThatFatGuy]

honestly, check eBay.com for miners under $50 us, often with free shipping.  Or check the marketplace here at the forum.

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[MonocleMan]

So I've been trying different pools and I decided to try this one. I wanted to check and make sure I wasn't missing anything. I've been mining with bitminter now for 6 hours. I have yet to be paid anything and it looks like no blocks have been discovered since I joined, is this true? Do I have a setting broken?

MM

[DrHaribo]

So I've been trying different pools and I decided to try this one. I wanted to check and make sure I wasn't missing anything. I've been mining with bitminter now for 6 hours. I have yet to be paid anything and it looks like no blocks have been discovered since I joined, is this true? Do I have a setting broken?

Welcome to BitMinter

It can take a few hours sometimes before we find a new block.

You can see all our blocks here: https://bitminter.com/blocks
You can see live what's going on here: https://bitminter.com/livestats/big

I posted some info about payouts here:
https://bitcointalk.org/index.php?topic=22432.msg2818113#msg2818113

[MonocleMan]

So the current block is 9+ hours old. And this is not the first 7+ hour block you guys have had in the last 48 hours. I thought Slush was having bad luck.

[DrHaribo]

So the current block is 9+ hours old. And this is not the first 7+ hour block you guys have had in the last 48 hours. I thought Slush was having bad luck.

The time to find a block depends on the hashrate too. Since Slush's pool has higher hashrate they will find blocks more often on average.

In the beginning, when this pool had just started out, it could take two weeks to find a block.

Many don't understand how a pool's hashrate affects them. This can be useful reading: http://bitcoin.stackexchange.com/questions/10731/mining-pool-hashrate-effect-on-a-miners-income

[Marsupial]

So basically, luck will alter "the number of blocks one of your shift effort will be paid for" instead of the usual immediate payback..? Is there a big variance there in case of very bad lucks?

I am trying to figure out if this is a good thing or a bad thing for newbie miners, as opposed to Slush's or Eligius' methods.

[DrHaribo]

So basically, luck will alter "the number of blocks one of your shift effort will be paid for" instead of the usual immediate payback..? Is there a big variance there in case of very bad lucks?

The effect from good or bad luck can be considerable over a short time span. Over more time it evens out.

I am trying to figure out if this is a good thing or a bad thing for newbie miners, as opposed to Slush's or Eligius' methods.

Slush's pool has variance too.

[Marsupial]

I don't think I like Slush's.

The way score are assigned, it can mean you mine for nothing for hours, being that the only interesting part of the work is at the end. I know it is meant to prevent from hopping and ending with zero hashrate to complete a block, but it virtually mean that the initial work is useless, and someone hopping in at the end would score higher than someone cutting off just before completion no matter how long it had been working.

Eligius' method somehow guarantee work will get rewarded even in case of bad luck, but every share is worth less than it could elsewhere. Helps when there's lots of bad luck, but if the pool would be having pure good luck for a while, it wouldn't turn out as extraneous BTC for miners.

Now, paying with shifts is somewhat more obscure to figure out. Whoever came up with this idea had a lot to think about. I guess the best is to try it out, which is what I am doing today & observing the end results.




Is the number of blocks each shifts will be rewarded for somewhat the the same in the long run, or is there lots of variance there? For instance, is the math made so a very unlucky shift could get zero blocks while a very lucky one could see 10+ blocks?


BTW I am still new to mining, and am just very interested in the whole mechanics behind everything bitcoin.

[pwhtguru]

  Setup asic blade single help. OK I got everything hook up 12volts to all lanes. During configuration I get chip 0000xxxx00000000000and so on.
Entered address for bitminter x2. also entered user_worker:pass user_worker:pass. Why is it not starting up?Please help. What am i missing?

[DrHaribo]

Setup asic blade single help. OK I got everything hook up 12volts to all lanes. During configuration I get chip 0000xxxx00000000000and so on.
Entered address for bitminter x2. also entered user_worker:pass user_worker:pass. Why is it not starting up?Please help. What am i missing?

Which address did you enter? Are you mining through stratum proxy or directly to BitMinter?

The blades use the getwork protocol. If you connect directly to the pool make sure you use port 8332. Not 3333, which is Stratum.

A better solution is to set up stratum proxy, and connect it to BitMinter using Stratum. Then let your blades connect to the proxy with getwork. But maybe this is what you are doing?

[caelaiden]

Hey guys so I feel like I am having a problem with my mining, I just recently got back into mining bitcoins again and I have a Geforce GT 650m and it is only Mhps is only 21.70 and my friend who runs a inferior graphics card is running almost double my Mhps at around 41Mhps. So I feel like I might be doing something wrong can anyone help me out?

https://i.imgur.com/kpwaeVJ.png

[DrHaribo]

Hey guys so I feel like I am having a problem with my mining, I just recently got back into mining bitcoins again and I have a Geforce GT 650m and it is only Mhps is only 21.70 and my friend who runs a inferior graphics card is running almost double my Mhps at around 41Mhps. So I feel like I might be doing something wrong can anyone help me out?

Nvidia cards are very slow for mining, much much slower than AMD cards. Also, mobile versions of the chips run much slower than desktop versions. Anyway, even AMD cards are very slow for mining these days as ASIC-based mining devices are taking over. I don't think any graphics card can make a profit mining right now unless you have free electricity.

https://en.bitcoin.it/wiki/Mining_hardware_comparison#ASIC

Compare those ASIC products to the graphics cards on the same page.

[DrHaribo]

I have got a hundred of vps with xeon cpu that can mine with a speed of 1mh/s,.is it profitable?

If you pay for electricity, no. If you don't, then yes. But the profit will be so tiny that it won't be worth your time setting up and managing 100 extremely slow miners.

[keeron]

I am a little confused at the dual mining (BTC + NMC). I tried looking up the main thread as well as the site, but no luck. Is there a way to turn off the NMC mining? Would the experts here recommended it (maybe it helps improve the BTC mining). For reference, I am using ASICMINER USB devices.

[SgtSpike]

I have got a hundred of vps with xeon cpu that can mine with a speed of 1mh/s,.is it profitable?

You'll make a whopping 0.02 BTC/month for your trouble.

[DrHaribo]

I am a little confused at the dual mining (BTC + NMC). I tried looking up the main thread as well as the site, but no luck. Is there a way to turn off the NMC mining? Would the experts here recommended it (maybe it helps improve the BTC mining). For reference, I am using ASICMINER USB devices.

We use our BTC hashes to also create NMC. NMC allows creating NMC blocks with BTC work - this is called "merged mining". If you don't want these free coins that don't slow down your BTC mining, then you can set NMC donation to 100% to get rid of them.

Some namecoin info:

We get namecoins with our bitcoin mining with no additional effort. Only got namecoins so far? You will get bitcoins when we create the next bitcoin block. Read more and get a namecoin wallet from http://dot-bit.org Get a namecoin GUI from http://dot-bit.org/forum/viewtopic.php?f=9&t=341 You can sell namecoins at exchanges: [1] https://btc-e.com/ [2] https://vircurex.com/

[keeron]

Thanks for clearing that up! For some reason, I totally missed on the merged mining part to mean what it actually was. This makes sense and quite possibly (once I get used to your pool/miner - just switched from another one), I'll most likely donate the namecoins back.

I am a little confused at the dual mining (BTC + NMC). I tried looking up the main thread as well as the site, but no luck. Is there a way to turn off the NMC mining? Would the experts here recommended it (maybe it helps improve the BTC mining). For reference, I am using ASICMINER USB devices.

We use our BTC hashes to also create NMC. NMC allows creating NMC blocks with BTC work - this is called "merged mining". If you don't want these free coins that don't slow down your BTC mining, then you can set NMC donation to 100% to get rid of them.

Some namecoin info:

We get namecoins with our bitcoin mining with no additional effort. Only got namecoins so far? You will get bitcoins when we create the next bitcoin block. Read more and get a namecoin wallet from http://dot-bit.org Get a namecoin GUI from http://dot-bit.org/forum/viewtopic.php?f=9&t=341 You can sell namecoins at exchanges: [1] https://btc-e.com/ [2] https://vircurex.com/

[sysops666]

Hi guys I'm brand new. and I finally got my jalapeno and i was doing 0.06 per day. It stayed that way for 9 days straight. after that it dropped to 0.05. now its getting 0.03 and the speed is still that same. what went wrong?

[DrHaribo]

Hi guys I'm brand new. and I finally got my jalapeno and i was doing 0.06 per day. It stayed that way for 9 days straight. after that it dropped to 0.05. now its getting 0.03 and the speed is still that same. what went wrong?

Daily earning will be affected by our luck in finding blocks. But I guess what you are talking about here is the difficulty going up. As more and more ASICs go online the difficulty is increasing rapidly, causing you to earn less with the same hashpower.

The bitcoin system automatically adjusts with the aim of creating a block every 10 minutes on average. As more hashpower is added globally there is less for everyone because you have to share with all the new hardware.

[scrubadub]

While all true, i think specifically he is asking about his "expected per block" going down. That goes down as more people join the pool. However with more people joining the pool, we will all mine more blocks (on average). So you are getting less per block, but hopefully more blocks (though we have been unlucky lately)

However as the Dr. has pointed out, as the difficulty goes up (and it went up ~30% last time) everyone will mine less bitcoins for the same hashrate