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Author Topic: [1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]  (Read 833213 times)
DrHaribo
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June 17, 2013, 08:14:52 PM
 #3521

http://bitcoin.stackexchange.com/questions/10731/mining-pool-hashrate-effect-on-a-miners-income

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PCMiner
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June 17, 2013, 08:44:35 PM
 #3522

It basically translates to:  Bigger pool with higher hash rate = more payouts that are smaller.   Smaller pool with lower hash rate = less payouts but the payouts are larger.  In the end it's more or less equal.  Some people just like to see money pile up a bit at a time vs a large payout every so often.
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June 17, 2013, 08:49:44 PM
 #3523

That's true if the difficulty stay the same.
Considering that the difficulty is going up fast, it's more profitable to find bloc faster before the difficulty rises again.

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Subw
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June 17, 2013, 08:54:05 PM
 #3524

Most miners don't pause if there is an error but hammer the server quickly with requests if something is wrong. So if you don't want to become part of the DDoS attack, cgminer and bfgminer are good choices.


Is there any settings for cgminer to fine tune it's connectivity is such situations (i mean ddos attacks) ?
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June 17, 2013, 09:10:06 PM
 #3525

is there a backup server option for guiminer?  would like to stay with you Dr., just seems like it's been down more often lately.  wish you luck with correcting this!
DrHaribo
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June 17, 2013, 09:13:18 PM
 #3526

That's true if the difficulty stay the same.
Considering that the difficulty is going up fast, it's more profitable to find bloc faster before the difficulty rises again.

No, not necessarily more or less profitable, but more likely to be close to average profitability.

The thing with difficulty going up in big jumps and probably never going back down to the old level is that if you had some very good or very bad luck just before the change in difficulty, then that luck does not as easily even out.

It's easy to assume that what will happen is that you will have bad luck and then difficulty rises, because many people tend to see the negatives.

But what happens if you have very good luck and then the difficulty goes up?

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Mastergerund
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June 17, 2013, 09:33:15 PM
 #3527

But what happens if you have very good luck and then the difficulty goes up?

Then you don't notice, because...

Quote
because many people tend to see the negatives.

So sad. We try so hard to be more objective, but our innate psychological foibles keep tripping us up!

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SilentSonicBoom
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June 17, 2013, 09:34:43 PM
 #3528

Are we still having issues with downtime?

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June 17, 2013, 10:16:22 PM
 #3529

Ok. I have to be honest. The downtime/problems are starting to annoy me to the point of starting to consider making BTCGuild my primary, and Bitminter as my secondary.
lenny_
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June 17, 2013, 10:41:48 PM
 #3530

I already did similar thing - I moved to Slush pool. No downtimes on Slush since change.
Can't pool operator afford buying stronger DDoS protection  Huh

DARKNET MARKETS >> https://DARKNETMARKETS.COM
lenny_
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June 17, 2013, 11:01:10 PM
 #3531

With the new difficulty level, we desperatly need more hashpower, when does cloudhashing is supposed to join us ?

This is why I had to leave, with a low rate you get stuck on bad blocks for too long. If you have a high hash rate then the bad blocks are over faster giving you more chances for good luck.

You only have less variance in a bigger pool. No advantage in the long run.

Not true.
Let's do some calculations:
Pool1:   1 TH, finds block every 23.07 hours, 1.04 blocks/day.
Pool2: 10 TH, finds block every 2.307 hours, 10.4 blocks/day.
Mining with same hashrate, payouts will be statistically equal.

But there's one interesting thing:

Each block in Bitcoin network have ~0.5, sometimes even more! of Transaction Fees.
In Pool1, we have this bonus only 1 time per day. In Pool2, we have it 10 times a day.
So on Pool2 with stronger power, will collect more Transaction Fees and users get it split between them 10 times per day instead of 1! That's ~5-10 BTC more for pool, every day.
Bonus reward for miners equals ~1/3 of block everyday, at no extra cost? Sure thing.

That's why it's better to mine on bigger pool, more rewards (thanks to network transaction fees) to split and smaller variance.

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eleuthria
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June 17, 2013, 11:21:49 PM
 #3532

With the new difficulty level, we desperatly need more hashpower, when does cloudhashing is supposed to join us ?

This is why I had to leave, with a low rate you get stuck on bad blocks for too long. If you have a high hash rate then the bad blocks are over faster giving you more chances for good luck.

You only have less variance in a bigger pool. No advantage in the long run.

Not true.
Let's do some calculations:
Pool1:   1 TH, finds block every 23.07 hours, 1.04 blocks/day.
Pool2: 10 TH, finds block every 2.307 hours, 10.4 blocks/day.
Mining with same hashrate, payouts will be statistically equal.

But there's one interesting thing:

Each block in Bitcoin network have ~0.5, sometimes even more! of Transaction Fees.
In Pool1, we have this bonus only 1 time per day. In Pool2, we have it 10 times a day.
So on Pool2 with stronger power, will collect more Transaction Fees and users get it split between them 10 times per day instead of 1! That's ~5-10 BTC more for pool, every day.
Bonus reward for miners equals ~1/3 of block everyday, at no extra cost? Sure thing.

That's why it's better to mine on bigger pool, more rewards (thanks to network transaction fees) to split and smaller variance.

The larger pool would split those bonus rewards (tx fees) with more people.  There *shouldn't* be a difference in how much you make based on pool size assuming uptime and fees are the same.  The exception is that a smaller pool can screw you on variance before big difficulty changes.  On the flip side, you can end up WAY ahead of what you should before those big changes on a smaller pool.  In the long run these shortfalls/big wins should even out, and you can never know which side you'll be on until it has already happened.

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June 18, 2013, 12:21:20 AM
 #3533

With the new difficulty level, we desperatly need more hashpower, when does cloudhashing is supposed to join us ?

This is why I had to leave, with a low rate you get stuck on bad blocks for too long. If you have a high hash rate then the bad blocks are over faster giving you more chances for good luck.

You only have less variance in a bigger pool. No advantage in the long run.

If you have 24 hours in a day and it takes 12 hours for each block you only have 2 chances in that 24 hours to find blocks. If you have 3 times the hash rate and find blocks every 4 hours you have more chances to make blocks in a 24 hour period. Making blocks quickly is important when the dif is going up every 10 days.

Can't tell if serious, or bad at math.

LOL either way  Grin
SilentSonicBoom
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June 18, 2013, 12:28:59 AM
 #3534

Any update on downtime?

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June 18, 2013, 12:56:17 AM
 #3535

Down here as well.  I would recommend anyone with the java client to switch to cgminer so you have backup pool capability.

M

Cgminer has always confused me. I know very little about coding. Do you know of any very simple and very basic guides to Cgminer. More detailed then "run your Cgminer with these settings" or "add this to your conf file."  I know what a conf file is but I have no idea what to do with it.  Thanks.

John122
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June 18, 2013, 01:25:47 AM
 #3536

Cgminer has always confused me. I know very little about coding. Do you know of any very simple and very basic guides to Cgminer. More detailed then "run your Cgminer with these settings" or "add this to your conf file."  I know what a conf file is but I have no idea what to do with it.  Thanks.

Very basic guide for CGMiner :
- Install the software.
- Create a .bat file using notepad containing the following :

c:
cd \Program Files (x86)\CGMiner\cgminer-3.2.1-windows
cgminer -o stratum+tcp://mint.bitminter.com:3333 -u YourUsername_YourWorker -p WorkerPassword

Change the directory according to where you installed it.

- Double-click on the .bat file to run CGMiner.
- Profit!
Guardian of Forever
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June 18, 2013, 02:55:31 AM
 #3537

I have a noob question; I have got BFGminer running on the stratum server. I am a windows user, not a command line person in any way, I notice there is zero hash rate on website counter, ie under another attack. But my command line window show My workers are sending/receiving work packets. Am I mining? Do you have an optimum setting suggestion for BFGminer setup?

I will be helping Bitminters hashrate as soon as I get my ASCI rigs. We must think about keeping the bitcoin community strong and diversified. there is a piece of the mining pie for everyone; we can't let one pool/group have monopoly control of mining.
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June 18, 2013, 04:53:21 AM
 #3538

I have a noob question; I have got BFGminer running on the stratum server. I am a windows user, not a command line person in any way, I notice there is zero hash rate on website counter, ie under another attack. But my command line window show My workers are sending/receiving work packets. Am I mining? Do you have an optimum setting suggestion for BFGminer setup?

I will be helping Bitminters hashrate as soon as I get my ASCI rigs. We must think about keeping the bitcoin community strong and diversified. there is a piece of the mining pie for everyone; we can't let one pool/group have monopoly control of mining.

90% of the time, if your miner is submitting shares, they are being counted even if the website front end may be down.  I say 90 because there may be rare circumstances when that's not the case but Dr. will have to chime in on that.
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June 18, 2013, 05:45:27 AM
 #3539

I see the current hash rate is half what it was a couple of days ago. I think its important for the pool to protect against the intermittent DDOS otherwise within a short while there'll be no one left. Which would be a shame.

What is the motive for the DDOS you think ? Another pool need more ?
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June 18, 2013, 06:10:19 AM
 #3540

It's been bad.  Everytime I see the hash rate goes up, I point my miner at the pool and then in moments it goes to 0 again and I get connection issues.
Grrrr!
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