[1050 TH] BitMinter.com [1% PPLNS,Pays TxFees +MergedMining,Stratum,GBT,vardiff]

[DrHaribo]

Hi.. I new to bitcoin mining. Currently have a usb asic miner with a speed of 2Gh/s. By watching the rise of the difficulty, it may not profitable at all because while calculating, i found that higher dificulty requires longer mining and the longer i mine with the same speed, the lower the income. So what should i do? Any suggestion?

As long as the income is higher than the electricity cost, it is profitable. Are you really at the point now where you are losing money to electricity costs?

[1714145534]

1714145534

[1714145534]

1714145534

[1714145534]

1714145534

[Flashman]

With the worst case scenario that you're running only a single 2gh stick on a host laptop and therefore sucking about 50W at the wall, in an area where there's high high 40c per kilowatt hour rates, then with current exchange rate, you're making only about 40c a day while costing 50c a day to run.

Solutions... i) mine at a slight current loss figuring BTC will top $5000 later this year... ii) put the stick in a machine that's on for other purposes to host... iii) get an old WRT54G router mod it for USB, mod flash larger, install cgminer, run on that for about 10W total consumption (This should be a less than $5 option, sure spend $$ on a Pi instead if you also want to defer your payoff date into the next century)...  iv) investigate advantages in time of use pricing, if you get 10c/kwh overnight, only mine overnight! ... v) Run more hashing hardware for better economies of scale

[Epoch]

Just looking at the NMC blocks: https://bitminter.com/blocks?commodity=NMC

6 stales out of 20 blocks. That's quite a bit over Bitminter's norm. Anything different happening recently?

[kevinscy]

Hi.. I new to bitcoin mining. Currently have a usb asic miner with a speed of 2Gh/s. By watching the rise of the difficulty, it may not profitable at all because while calculating, i found that higher dificulty requires longer mining and the longer i mine with the same speed, the lower the income. So what should i do? Any suggestion?

As long as the income is higher than the electricity cost, it is profitable. Are you really at the point now where you are losing money to electricity costs?

Well, i'm still a university student  so at the moment, i could ignore the electricity bill. i just started mining 8 days ago. Still dont know when i could afford to buy mining rig coz it's expensive. I have a plan to buy usb asic 1 by 1 for a few months but maybe at that time it's useless coz the difficulty..
Currently mining at bitminter pool..

[kevinscy]

With the worst case scenario that you're running only a single 2gh stick on a host laptop and therefore sucking about 50W at the wall, in an area where there's high high 40c per kilowatt hour rates, then with current exchange rate, you're making only about 40c a day while costing 50c a day to run.

Solutions... i) mine at a slight current loss figuring BTC will top $5000 later this year... ii) put the stick in a machine that's on for other purposes to host... iii) get an old WRT54G router mod it for USB, mod flash larger, install cgminer, run on that for about 10W total consumption (This should be a less than $5 option, sure spend $$ on a Pi instead if you also want to defer your payoff date into the next century)...  iv) investigate advantages in time of use pricing, if you get 10c/kwh overnight, only mine overnight! ... v) Run more hashing hardware for better economies of scale

i mine using a 2004 laptop, Compaq v2000 presario. Spec: 1.6ghz single core, windows xp. I run it with full power battery saver while connected to power source. Deactivate all apps that consume cpu. Running at 34 degress celcius and even the cpu fan didnt spin at all  because the chip doesnt need it. I doubt it suck 50W but anyway im still a university student. At the moment, electricity bill can be nullified.

Talk about for more hashing, it's okay if i buy another same devices for about 3 to 4 months later (1 pieces) USB ASIC miner? or it's better to do cloud mining? thanks before

[CCCrypto]

Does anyone have advice on connecting to Bitminter via stratum proxy with a Bitfury rig?

I'm trying to connect using stratum+tcp://mint.bitminter.com (on the admin page), and the noncerate is just flashing 0GH/s. I can't figure it out and it's very frustrating.

EDIT: I was typing in 'stratum+tcp://mint.bitminter.com' instead of just 'mint.bitminter.com' on the admin page. Thanks for the help.

[Flashman]

i mine using a 2004 laptop, Compaq v2000 presario. Spec: 1.6ghz single core, windows xp. I run it with full power battery saver while connected to power source. Deactivate all apps that consume cpu. Running at 34 degress celcius and even the cpu fan didnt spin at all  because the chip doesnt need it. I doubt it suck 50W but anyway im still a university student. At the moment, electricity bill can be nullified.

Those are a solid piece of kit, made before the great lead free solder folly. I'm actually running a similar spec from same era, with a v2000 as a spare if it dies. Think the CPU will be running 600mhz in low power mode. It's probably sucking about 20W or so.

[rm1023]

Hi.. I new to bitcoin mining. Currently have a usb asic miner with a speed of 2Gh/s. By watching the rise of the difficulty, it may not profitable at all because while calculating, i found that higher dificulty requires longer mining and the longer i mine with the same speed, the lower the income. So what should i do? Any suggestion?

As long as the income is higher than the electricity cost, it is profitable. Are you really at the point now where you are losing money to electricity costs?

Well, i'm still a university student  so at the moment, i could ignore the electricity bill. i just started mining 8 days ago. Still dont know when i could afford to buy mining rig coz it's expensive. I have a plan to buy usb asic 1 by 1 for a few months but maybe at that time it's useless coz the difficulty..
Currently mining at bitminter pool..

I am a student as well.  You would be better off using the money to buy Bitcoin and holding it rather than buying a usb erupter.  You would also make more profit mining PPC and converting it to BTC at this difficulty level.  I decided to point my blades at a PPC pool and convert to BTC when the price is right instead of buying new mining equipment.  I buy BTC monthly based on what I would have mined if I had upgraded my equipment, which at the time I was considering a KNC Jupiter.  I have made more profit just buying BTC, so it has worked out so far.  I hope this helps in your decision making.

[fungal]

Anyone else getting the impressions we got 2 very bad pieces of luck suddenly?

Been waiting for a while since the 98.6% block...

has anyone crunched the numbers on the % of bad luck we are getting of recent?

I split my Block Erupters between bitminter and btcguild to hedge against this type of thing, anyone else got thoughts on this?

[kevinscy]

Anyone else getting the impressions we got 2 very bad pieces of luck suddenly?

Been waiting for a while since the 98.6% block...

has anyone crunched the numbers on the % of bad luck we are getting of recent?

I split my Block Erupters between bitminter and btcguild to hedge against this type of thing, anyone else got thoughts on this?

yeah.. this 2 blocks is very very bad XD

[kevinscy]

Hi.. I new to bitcoin mining. Currently have a usb asic miner with a speed of 2Gh/s. By watching the rise of the difficulty, it may not profitable at all because while calculating, i found that higher dificulty requires longer mining and the longer i mine with the same speed, the lower the income. So what should i do? Any suggestion?

As long as the income is higher than the electricity cost, it is profitable. Are you really at the point now where you are losing money to electricity costs?

Well, i'm still a university student  so at the moment, i could ignore the electricity bill. i just started mining 8 days ago. Still dont know when i could afford to buy mining rig coz it's expensive. I have a plan to buy usb asic 1 by 1 for a few months but maybe at that time it's useless coz the difficulty..
Currently mining at bitminter pool..

I am a student as well.  You would be better off using the money to buy Bitcoin and holding it rather than buying a usb erupter.  You would also make more profit mining PPC and converting it to BTC at this difficulty level.  I decided to point my blades at a PPC pool and convert to BTC when the price is right instead of buying new mining equipment.  I buy BTC monthly based on what I would have mined if I had upgraded my equipment, which at the time I was considering a KNC Jupiter.  I have made more profit just buying BTC, so it has worked out so far.  I hope this helps in your decision making.

oh i see.. that's sound a good option too. Thanks . Anyway which ppc pool did you use?

[redled]

Still over time our luck is not so bad.
I just calculated the average cdf of 2014 and we're on 52%.

[fungal]

Still over time our luck is not so bad.
I just calculated the average cdf of 2014 and we're on 52%.

What about a rolling 12 months? That could be a better statistics, as there may be some outlyers which may skew the result with such a small sample group.

[organofcorti]

Still over time our luck is not so bad.
I just calculated the average cdf of 2014 and we're on 52%.

How did you do that?

Edit: just checked myself, and I get 77.8% since the start of the year. That's still not unusual, but I'm interested as to how you came to your result.

[Flashman]

I hate big blocks and I can not lie,
You other brothers can't deny
That when a block completes with just a little bit of haste,
And a red CDF in your face,
You get STUNG!!

[redled]

How did you do that?

Edit: just checked myself, and I get 77.8% since the start of the year. That's still not unusual, but I'm interested as to how you came to your result.

I just took the average of all CDF in 2014 (at this moment we stand on 50.55%).
When I look at the average time (which is 5h 30min from Block 277999 - 282669) I see my CDF calculation is wrong.

[organofcorti]

How did you do that?

Edit: just checked myself, and I get 77.8% since the start of the year. That's still not unusual, but I'm interested as to how you came to your result.

I just took the average of all CDF in 2014 (at this moment we stand on 50.55%).

Ah, I see. No, you can't average CDFs.

When I look at the average time (which is 5h 30min from Block 277999 - 282669) I see my CDF calculation is wrong.

No, time doesn't make a difference either.


You need to calculate the following:

lower incomplete gamma fn(number of blocks, actual shares/expected shares*number of blocks)/(number of blocks -1)!


Edit Read this:   http://en.wikipedia.org/wiki/Erlang_distribution

[Korxax]

Heh, we are actually doing better since the difficulty went UP. 


Korxax


1NtV1q29FtRAYAkMJHMYbASZLiLur2FQe

[induktor]

Site down?

[DrHaribo]

Site down?

No. What are you observing?