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Author Topic: [1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]  (Read 774739 times)
jfederkins
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July 07, 2014, 12:36:18 AM
 #6921

Out of interest I went back and looked at the block history on BitMinter ... and how things have changed ...

The oldest entry is the 3rd July 2011 and took 14 days 3hrs and 10 mins! (When Bitminter started). Difficulty was 1,379,192 and the pool speed registered at 0.0 Thps ... naturally DrHaribo made the block that day.

Three blocks were solved on 4th July 2012 (none on the third) and the pool speed was 0.2 Thps.

3rd July 2013 shows 6 blocks solved and the pool speed was 5.9 Thps and difficulty was 21,335,329.

3rd July 2014 ... 3 years on from the start... (only 12 months later than the last stats) - 'hello! and welcome to ASIC miners' - 1 block solved at a difficulty of 16,818,461,371.

As I write we are on a 1 Day 15 hour block ... and counting ... but there have been a few good days recently ... and the pool is running at 1367 Thps.

What will 3rd July 2015 show? We can't even speculate.




Don't you wish you could go back to 2012 with a couple of S1's?
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IamCANADIAN013
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July 07, 2014, 12:47:44 AM
 #6922

Out of interest I went back and looked at the block history on BitMinter ... and how things have changed ...

The oldest entry is the 3rd July 2011 and took 14 days 3hrs and 10 mins! (When Bitminter started). Difficulty was 1,379,192 and the pool speed registered at 0.0 Thps ... naturally DrHaribo made the block that day.

Three blocks were solved on 4th July 2012 (none on the third) and the pool speed was 0.2 Thps.

3rd July 2013 shows 6 blocks solved and the pool speed was 5.9 Thps and difficulty was 21,335,329.

3rd July 2014 ... 3 years on from the start... (only 12 months later than the last stats) - 'hello! and welcome to ASIC miners' - 1 block solved at a difficulty of 16,818,461,371.

As I write we are on a 1 Day 15 hour block ... and counting ... but there have been a few good days recently ... and the pool is running at 1367 Thps.

What will 3rd July 2015 show? We can't even speculate.




I did the same thing a while back and was pretty amazed at how far Bitminter and mining in general has advanced. Looking at even the past 6 months or so is surprising, mining has advanced a great deal so far this year.  It's only going to ramp up again when the next round of even more powerful miners hit the market.

The pool speed has doubled in just the past 3 months.   Shocked

allnite
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July 07, 2014, 02:40:14 AM
 #6923

Just a thought for the "pros" at what "bit" does anyone do an auto payout?  Ie 1.00000000 or 0.10000000? Or what is considered the " norm" or safe?  Asking cause I'm greener than grass!  Thanks in advanced!
HerbPean
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July 07, 2014, 04:38:49 AM
 #6924

Just a thought for the "pros" at what "bit" does anyone do an auto payout?  Ie 1.00000000 or 0.10000000? Or what is considered the " norm" or safe?  Asking cause I'm greener than grass!  Thanks in advanced!

Consider your wallet the most secure place to keep your BTC. So don't stack them too much on bitminter.

The amount is pretty much related to the amount you're mining every day. Just move them once a week or every two weeks ? Tongue

You can do it manually or through the auto-payout. It's a personal choice ;-)
jjdub7
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July 07, 2014, 05:39:29 AM
 #6925

Just a thought for the "pros" at what "bit" does anyone do an auto payout?  Ie 1.00000000 or 0.10000000? Or what is considered the " norm" or safe?  Asking cause I'm greener than grass!  Thanks in advanced!

Manual withdrawal only costs 10k satoshi, so for withdrawals > 0.02 BTC, its cheaper to do them manually since at that point 0.5% of the sum becomes more expensive.

Math:

breakeven = 0.0001 BTC (flat fee) / 0.005 (auto-withdraw donation) = 0.02 BTC withdrawals

Auto-withdraw is free.

"Chips, picking chips off rocky thumbnail, chips.
Horrid! And gold flushed more." - James Joyce
cenicsoft
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July 07, 2014, 02:22:36 PM
 #6926

Hey, we are hitting WAY TOO MANY BLOCKS.    I do not hear anyone complaining.    What is going on???

no worries next block wil take 3 days and we all start to cry about it Grin

You had to go and jinx it!

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oskuro
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July 07, 2014, 02:26:32 PM
 #6927

Hey, we are hitting WAY TOO MANY BLOCKS.    I do not hear anyone complaining.    What is going on???

no worries next block wil take 3 days and we all start to cry about it Grin

You had to go and jinx it!

This fukin block.... jeez!!!!!! what a nightmare......  Angry Angry Angry
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July 07, 2014, 02:33:55 PM
 #6928

Manual withdrawal only costs 10k satoshi, so for withdrawals > 0.02 BTC, its cheaper to do them manually since at that point 0.5% of the sum becomes more expensive.

Auto cash out doesn't cost 0.5%. It's actually completely free.

So auto cash out is always cheapest. But you may want to cash out before reaching the minimum for the auto cash out, or you may want to send less than your entire balance somewhere - in those cases the manual "send coins" is useful.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
oskuro
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July 07, 2014, 03:43:53 PM
 #6929

Hey, we are hitting WAY TOO MANY BLOCKS.    I do not hear anyone complaining.    What is going on???

no worries next block wil take 3 days and we all start to cry about it Grin

You had to go and jinx it!

This fukin block.... jeez!!!!!! what a nightmare......  Angry Angry Angry

98 % 2 days 9h52mins amazing  Grin Grin
allnite
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July 07, 2014, 04:04:43 PM
 #6930

Hey, we are hitting WAY TOO MANY BLOCKS.    I do not hear anyone complaining.    What is going on???

no worries next block wil take 3 days and we all start to cry about it Grin

You had to go and jinx it!

This fukin block.... jeez!!!!!! what a nightmare......  Angry Angry Angry

98 % 2 days 9h52mins amazing  Grin Grin

To boldly go where no other pool has gone before
jjdub7
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July 07, 2014, 04:08:44 PM
 #6931

Manual withdrawal only costs 10k satoshi, so for withdrawals > 0.02 BTC, its cheaper to do them manually since at that point 0.5% of the sum becomes more expensive.

Auto cash out doesn't cost 0.5%. It's actually completely free.

So auto cash out is always cheapest. But you may want to cash out before reaching the minimum for the auto cash out, or you may want to send less than your entire balance somewhere - in those cases the manual "send coins" is useful.


Whoa, wait Doc - it is free!  Am I losing my memory or did it "cost" a 0.5% donation at one point?

And actually...now that I think of it, do mining pools qualify for status as non-profit organizations?  Because logically, if the IRS wants to tax mining income at the income rate - donations to the pool should be equivalently tax-deductible for miners.

"Chips, picking chips off rocky thumbnail, chips.
Horrid! And gold flushed more." - James Joyce
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July 07, 2014, 04:21:29 PM
 #6932

98 % 2 days 9h52mins amazing  Grin Grin

To boldly go where no other pool has gone before

We've had 99.9% CDF before, and we've also had 14 day rounds (a long time ago). While annoying, it's nothing special I'm afraid.

Whoa, wait Doc - it is free!  Am I losing my memory or did it "cost" a 0.5% donation at one point?

No, auto cash out was always free.


And actually...now that I think of it, do mining pools qualify for status as non-profit organizations?  Because logically, if the IRS wants to tax mining income at the income rate - donations to the pool should be equivalently tax-deductible for miners.

I think most pools are for-profit.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
jjdub7
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July 07, 2014, 04:35:20 PM
 #6933


And actually...now that I think of it, do mining pools qualify for status as non-profit organizations?  Because logically, if the IRS wants to tax mining income at the income rate - donations to the pool should be equivalently tax-deductible for miners.

I think most pools are for-profit.


Eh, I don't necessarily mean you, DrHaribo, own the pool and take a salary draw from the proceeds, or even we, the miners, make a profit by participating in it as a collective entity. 

I mean the entity Bitminter itself (similar to the whole discussion of how businesses are legally treated as if they are 'persons')...how is it legally classified?  A business with you as the sole proprietor? 

I know that in the States, for example the not-for-profit health insurer Highmark is able to classify itself with separate tax liability from its for-profit subsidiaries due to how the organization is structured legally (a number of for-profit subsidiaries pay their respective stakeholders, leaving a decent amount of tax-deductible revenue aside for the non-profit operations of the parent organization as a distinct entity).

"Chips, picking chips off rocky thumbnail, chips.
Horrid! And gold flushed more." - James Joyce
gb1971
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July 07, 2014, 04:38:14 PM
 #6934

Hey, we are hitting WAY TOO MANY BLOCKS.    I do not hear anyone complaining.    What is going on???

no worries next block wil take 3 days and we all start to cry about it Grin

You had to go and jinx it!

This fukin block.... jeez!!!!!! what a nightmare......  Angry Angry Angry

98 % 2 days 9h52mins amazing  Grin Grin

To boldly go where no other pool has gone before
damn i wish i said it would be 1 day................... Roll Eyes
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July 07, 2014, 04:50:29 PM
 #6935

Sorry, Bitminter isn't a non-profit organization.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
oskuro
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July 07, 2014, 06:35:15 PM
 #6936

This is a world record? almost 99%?  Grin
HerbPean
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July 07, 2014, 06:37:40 PM
 #6937

i'm wondering how much work is the last % of the CDF. What is the exact calculation formula to know how much effort you need to get to a X% CDF  ? we did like 2.x% in the last 12 hours.
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July 07, 2014, 06:39:21 PM
 #6938

This is a world record? almost 99%?  Grin

It's not a new record (yet, they had 99.9%) of difficulty but it will the most effort we put in a block for sure.
oskuro
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July 07, 2014, 06:47:50 PM
 #6939

This is a world record? almost 99%?  Grin

It's not a new record (yet, they had 99.9%) of difficulty but it will the most effort we put in a block for sure.

wow.... incredible really..... 2 days and 13 hours.... WTH  Grin Grin Grin
christhegoth
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July 07, 2014, 06:56:38 PM
 #6940

This is a world record? almost 99%?  Grin

It's not a new record (yet, they had 99.9%) of difficulty but it will the most effort we put in a block for sure.

wow.... incredible really..... 2 days and 13 hours.... WTH  Grin Grin Grin

I thought my new miner was on the fritz.

Pedal faster! Someone feed the hamsters!

This block is seriously chewy.
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