Eligius: 0% Fee BTC, 105% PPS NMC, No registration, CPPSRB

[kodiak1120]

Thanks WizKid...  I figured that out after posting... but is that what's causing the warning on my address? 

[1714520123]

1714520123

[wizkid057]

Thanks WizKid...  I figured that out after posting... but is that what's causing the warning on my address? 

Probably.  Blockchain.info shows that on a whole slew of addresses for what reason I have no idea.  It even shows on all of Eligius's cold wallet addresses, and some personal addresses of mine that are just normal bitcoin client txns.

So, I'd just ignore it.

[MiningDavid]

Any status on what's happening with the Namecoin payouts?

My last Namecoin payout from ELigius was on August 16th, 2014.

[dankefoss]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

[baddw]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

Yes, the difficulty increase means that it takes that much longer for you to hit your threshold.  Unless you build up your hashrate to keep up with the difficulty increases, your payouts will become less and less frequent, if you keep your payout threshold the same.

[mdude77]

How long does it take?  I'm at 24 hours since I changed it, still not showing up in payout queue.

M

If you set a minimum below your current balance?  I'm not going to disclose the exact timing on that...

Otherwise they generally take effect within 24 hours.

Going on 36 hours since I changed my payout to be below my balance, yet above the minimum payout, and I'm still not in the payout queue.

M

[Biontic]

  we just hit 12 hours for this block *sigh* been over a week since we had one that long...

Oh well  - suck it up buttercup - that's the way the cookie crumbles. 

Wizkid: any news on NMC payouts?
Thanks

[wizkid057]

I've been waiting for the namecoin folks to release a patch that lets namecoind run for more than 30 minutes before crashing.

[Biontic]

I've been waiting for the namecoin folks to release a patch that lets namecoind run for more than 30 minutes before crashing.

  Ah - fair enough! Thanks for the quick response

[toxiclabs45]

Hello

I rarely as for help on this forum and I was hoping because of my rasperberry pi and 2ghz stick It will take some time to reach the min payout of  0.00131072. So I was hoping if anyone would put in a 180ghz miner or something and reach greater than  0.00131072 I would appreciate it.
http://eligius.st/~wizkid057/newstats/userstats.php/14sWKc93CyS8s6qyWBcFNMs6k7NLB1hAHu
I took my miner off and I hope it would queue at any amount but i don't think it isn't.
thanks

[dankefoss]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

Yes, the difficulty increase means that it takes that much longer for you to hit your threshold.  Unless you build up your hashrate to keep up with the difficulty increases, your payouts will become less and less frequent, if you keep your payout threshold the same.

I saw absolutely no change from any of the other difficulty increases. And since we theoretically have the same amount of miners hashing away, makes no sense that it should take now 2-1/2 days longer?

[GrapeApe]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

Yes, the difficulty increase means that it takes that much longer for you to hit your threshold.  Unless you build up your hashrate to keep up with the difficulty increases, your payouts will become less and less frequent, if you keep your payout threshold the same.

I saw absolutely no change from any of the other difficulty increases. And since we theoretically have the same amount of miners hashing away, makes no sense that it should take now 2-1/2 days longer?

Oh Man... (Face in palms). You need to do some reading.

You probably didn't notice the changes in income before because the jumps in diff were a lot smaller than normal the last was 20.86%.

Go here https://bitcoinwisdom.com/bitcoin/difficulty

Aug 19 2014    23,844,670,039    20.86%    170,686,797 GH/s
Aug 08 2014    19,729,645,941    5.30%    141,230,307 GH/s
Jul 25 2014    18,736,441,558    8.08%    134,120,673 GH/s
Jul 12 2014    17,336,316,979    3.08%    124,098,191 GH/s

[wizkid057]

This seems to be a common problem with the latest bunch of people who bought mining hardware. Too many have no idea what they're doing, have done next to zero research, and expect to just get rich overnight.

Some of the emails, posts, PMs, and support requests I've seen along these lines have been pretty ridiculous.  I seriously should make a hall of shame for such things.

Example: Some guy bought a 5Gh/s miner for like $100 not long ago and was expecting something like 100% ROI *per day* and was trying to claim that I was stealing his profits somehow...

[ProfMac]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

Yes, the difficulty increase means that it takes that much longer for you to hit your threshold.  Unless you build up your hashrate to keep up with the difficulty increases, your payouts will become less and less frequent, if you keep your payout threshold the same.

I saw absolutely no change from any of the other difficulty increases. And since we theoretically have the same amount of miners hashing away, makes no sense that it should take now 2-1/2 days longer?

The network difficulty is a measure of how much mining is occurring on the entire network.  You are competing with all of them.  As difficulty rises, your profits drop.  In the course of 1 year, Avalon ASIC miners went from about 5 BTC / day to not paying for the electricity they use.

[lightfoot]

This seems to be a common problem with the latest bunch of people who bought mining hardware. Too many have no idea what they're doing, have done next to zero research, and expect to just get rich overnight.

Some of the emails, posts, PMs, and support requests I've seen along these lines have been pretty ridiculous.  I seriously should make a hall of shame for such things.

Example: Some guy bought a 5Gh/s miner for like $100 not long ago and was expecting something like 100% ROI *per day* and was trying to claim that I was stealing his profits somehow...

*nod*

This is why I got out of the chip adding business once my cost to do so would exceed the value they would hash. I had to explain to a bunch of people why this was a stupid idea, it was plain weird.

Maybe that's the root problem with mining: People are just completely irrational. It's the only explanation that the mining difficulty is now rising above the cost of power: People are mining at a literall loss not in terms of capital ROI but in terms of operating expenses. This drags down profits for the rational poeple, might drive them out of the market.

C
(Kind of rational)

[baddw]

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

Yes, the difficulty increase means that it takes that much longer for you to hit your threshold.  Unless you build up your hashrate to keep up with the difficulty increases, your payouts will become less and less frequent, if you keep your payout threshold the same.

I saw absolutely no change from any of the other difficulty increases. And since we theoretically have the same amount of miners hashing away, makes no sense that it should take now 2-1/2 days longer?

The previous difficulty increases were pretty small: 3%, 8%, 5%.  (Any of which would have been the lowest difficulty increase in over a year.  To have 3 such tiny increases in a row was almost hard to believe.) The most recent one was 20%.  The upcoming one will be in the 15% range.

Your payouts occur only after you have entered the queue.  (How long it takes for your payout to occur once you've entered the queue can vary by 24-48 hours, depending on the pool's luck and some other factors, including how many other people enter the queue ahead of you.) You only enter the queue once you have hit your threshold.  If the difficulty is 20% higher then it will take 20% longer to hit your threshold.  That would take the 3.5 days to 4.2 days.  (Add on an extra 5% and we're at 4.4 days.)  The rest of the difference is easily explained by normal queue variance.  Read the link in my sig for more explanation of the queue.

[dankefoss]

Oh Man... (Face in palms). You need to do some reading.

You probably didn't notice the changes in income before because the jumps in diff were a lot smaller than normal the last was 20.86%.

Go here https://bitcoinwisdom.com/bitcoin/difficulty

Aug 19 2014    23,844,670,039    20.86%    170,686,797 GH/s
Aug 08 2014    19,729,645,941    5.30%    141,230,307 GH/s
Jul 25 2014    18,736,441,558    8.08%    134,120,673 GH/s
Jul 12 2014    17,336,316,979    3.08%    124,098,191 GH/s

Thanks for taking the time. I was thinking we had a big jump prior to the 23,844 jump. My bad (I have been reading by the way). Dan

This seems to be a common problem with the latest bunch of people who bought mining hardware. Too many have no idea what they're doing, have done next to zero research, and expect to just get rich overnight.

Some of the emails, posts, PMs, and support requests I've seen along these lines have been pretty ridiculous.  I seriously should make a hall of shame for such things.

Example: Some guy bought a 5Gh/s miner for like $100 not long ago and was expecting something like 100% ROI *per day* and was trying to claim that I was stealing his profits somehow...

If you are referring to me wizkid057, you are completely mistaken and completely out of line. I have been doing nothing but acquiring information for the last 2 months. Everyone must start somewhere.



Thanks for taking the time to explain it lightfoot and baddw!!

-Dan

[crashoveride54902]

This seems to be a common problem with the latest bunch of people who bought mining hardware. Too many have no idea what they're doing, have done next to zero research, and expect to just get rich overnight.

Some of the emails, posts, PMs, and support requests I've seen along these lines have been pretty ridiculous.  I seriously should make a hall of shame for such things.

Example: Some guy bought a 5Gh/s miner for like $100 not long ago and was expecting something like 100% ROI *per day* and was trying to claim that I was stealing his profits somehow...

ahh there is a sucker born every minute huh? wow, wonder if the person that sold him that told him he would get that much mining? would be sad if that is the case

[wizkid057]

This seems to be a common problem with the latest bunch of people who bought mining hardware. Too many have no idea what they're doing, have done next to zero research, and expect to just get rich overnight.

Some of the emails, posts, PMs, and support requests I've seen along these lines have been pretty ridiculous.  I seriously should make a hall of shame for such things.

Example: Some guy bought a 5Gh/s miner for like $100 not long ago and was expecting something like 100% ROI *per day* and was trying to claim that I was stealing his profits somehow...

If you are referring to me wizkid057, you are completely mistaken and completely out of line. I have been doing nothing but acquiring information for the last 2 months.

You were the one who asked the question about low estimated earnings.  The fact that the cause was obvious based on the difficulty increases points to you not understanding something at the core of bitcoin mining before purchasing and putting hardware online.  Anyone who actually did research would already have known exactly what was going on.  If you had truly been "acquiring information for the last 2 months" then difficulty vs income would have certainly been one of the first things you came across.

Not going to turn this into some ridiculous argument, but I'm certainly not "out of line."  

[JLebowskiTheDude]

I have been doing nothing but acquiring information for the last 2 months.

Just to reiterate wk's point using your own posts:

Newby question. I've been mining with Eligius for a month now. How come it went from a 3-1/2 day payout, fairly consistently, to now a 5-1/2 day payout? Is that just the luck of the pool for now or is there another explanation. I noticed it happened around the time of this last difficulty increase.

And since we theoretically have the same amount of miners hashing away, makes no sense that it should take now 2-1/2 days longer?

It's not "completely out of line" to point out that if you missed how difficulty increases will affect earnings which will of course certainly affect payout frequency assuming payout amount remains constant, then wk is right.  You haven't been very diligent in your research.  The bold part of your posts above illustrate that very plainly.

Everyone does have to start somewhere.  There's nothing wrong with not knowing.  

But accusing someone of somehow "stealing" from you when you're largely ignorant of what's going on isn't very wise.