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Author Topic: What's generally considered the best pool to join?  (Read 5860 times)
jctusmc03
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November 29, 2011, 05:27:09 AM
 #1

What's generally considered the best pool to join that someone could link me to, or perhaps even a website that is reputable that handles rankings? I'm not so sure solo mining is going to get me anything.

I'm churning out 870 mh/s, I'm unsure if that's good enough for solo'ing exactly, or if I'm even doing this correctly. If that is good enough for solo what's a really good guide for solo mining that goes into great detail so a noob like me can learn the ropes to it?

What's the best software for mining? I'm currently using GUIMiner for my 2x 5870's and my 4670, is that good?

Also, my bitcoin wallet program had to be re-installed and I've lost my original receive coins address, is there a way to get this back or should I just concentrate on the new address?
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Transisto
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November 29, 2011, 08:20:59 PM
 #2

Anything but Deepbit,

I personnaly like nmcbit.com because they offer both proportional and per share reward

and have Merged mining, meaning you get both BTC and NMC, you can also convert them directly on the site.

EDIT: Why not DeepBit ?   They have high fees and threaten the whole network security by having more than 50% of mining power.

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November 29, 2011, 08:32:24 PM
 #3

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

Choose one that seems fair, and probably one that isn't too small.  Also, make sure you are happy with the reward method as some have high fees or quirks that advantage hoppers (and my opinion and investigation says that tends to be the smaller ones).

Personally, I mine at Deepbit because it suits my setup, but not much at the moment because of price.  Slush also looks interesting and his posts on the forum are sensible so you can get good feedback/information.
Meni Rosenfeld
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November 29, 2011, 08:47:08 PM
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What's generally considered the best pool to join that someone could link me to, or perhaps even a website that is reputable that handles rankings?
This is a hotly debated topic. There are bad pools and good pools but you won't find any consensus about which is which. At this point in time, personally I would recommend eclipsemc.com, yourbtc.net or bitminter.com.

I'm churning out 870 mh/s, I'm unsure if that's good enough for solo'ing exactly
It's not.

What's the best software for mining? I'm currently using GUIMiner for my 2x 5870's and my 4670, is that good?
It should be about as good as any other software.

Also, my bitcoin wallet program had to be re-installed and I've lost my original receive coins address, is there a way to get this back or should I just concentrate on the new address?
Try looking in the "receive coins" tab or "receiving" tab of the address book (depending on the Bitcoin software version). If it's not there then it's probably in an old version of your wallet.dat file. If you lost this file you can't use that address anymore so you should focus on the addresses in the new file (and keep a backup of it). In any case reinstalling the software shouldn't harm the wallet file if you keep the data directory intact.

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nmat
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November 29, 2011, 09:25:11 PM
 #5

I wonder how could you spend 4 hours in the newbie section without realizing that you can't solo mine with that hardware and that lost wallet means lost addresses.
Meni Rosenfeld
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November 29, 2011, 09:37:51 PM
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I wonder how could you spend 4 hours in the newbie section without realizing that you can't solo mine with that hardware and that lost wallet means lost addresses.
<sarcasm>
Congratulations, you've invented a new game - stand with a stopwatch next to newbies and see how long it takes them to become experts in the various intricacies of Bitcoin.
</sarcasm>

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PatrickHarnett
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November 29, 2011, 09:59:02 PM
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I wonder how could you spend 4 hours in the newbie section without realizing that you can't solo mine with that hardware and that lost wallet means lost addresses.
<sarcasm>
Congratulations, you've invented a new game - stand with a stopwatch next to newbies and see how long it takes them to become experts in the various intricacies of Bitcoin.
</sarcasm>

+1

They could solo mine with that hardware, they just might not see blocks very often.

Plus, to jctusmc03, Meni has looked pretty carefully at different pools so checking his recommendations would be a sound idea.
nmat
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November 29, 2011, 10:01:40 PM
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I wonder how could you spend 4 hours in the newbie section without realizing that you can't solo mine with that hardware and that lost wallet means lost addresses.
<sarcasm>
Congratulations, you've invented a new game - stand with a stopwatch next to newbies and see how long it takes them to become experts in the various intricacies of Bitcoin.
</sarcasm>

Sorry for my bitterness but when I first got here there were 'flashing signs' all over the newbies section saying stuff like "wallet.dat is the most important file ever", "solo mining is not worth it", "we don't accept paypal", etc. I was just wondering what did he read during those 4 hours...

Anyway, OP, here is some help: http://tpbitcalc.appspot.com. You need to wait around 2 months to mine a block with those cards. This is a probability, which means that you may hit a block next month or 3 months from now.
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November 29, 2011, 10:45:12 PM
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Anyway, OP, here is some help: http://tpbitcalc.appspot.com. You need to wait around 2 months to mine a block with those cards. This is a probability, which means that you may hit a block next month or 3 months from now.

Good calculator - I had not seen that one before.
likuidxd
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November 29, 2011, 10:52:57 PM
 #10

Anything but Deepbit,

I still don't understand how they are one of the biggest.

That said, it's all personal preference. Personally I like the different varieties of proportional. When the pool hits a nice luck streak it's like winning the lotto! But, PPS and SMPPS (so long as the pool can produce) are nice as well for a steady income

PatrickHarnett
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November 30, 2011, 08:01:51 PM
 #11

Anything but Deepbit,

I still don't understand how they are one of the biggest.

That said, it's all personal preference. Personally I like the different varieties of proportional. When the pool hits a nice luck streak it's like winning the lotto! But, PPS and SMPPS (so long as the pool can produce) are nice as well for a steady income

Some reasons could be:
1: It is large.  That gives some stability and they find blocks reasonably often.
2: 3% isn't too huge a fee for many, especially when linked with #1.
3: The payment/reward is simple cf Slush for newbies.  different methods, not one necessarily better than the other.
4: When setting up miners via Guiminer, deepbit is fairly easy and works.  (When I first started and couldn't get solo running, it was one I chose due to likely variance.  It could have as easily been Slush's Pool.)

Why do people prefer different things? That's partly what gives marketers their jobs.  For example, buying computer hardware, some people prefer buying online, others with a real person, some the big companies, others the local store.  Different people have different needs/wants.

Meni Rosenfeld
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November 30, 2011, 09:03:59 PM
 #12

3: The payment/reward is simple cf Slush for newbies.  different methods, not one necessarily better than the other.
The proportional method used by deepbit is necessarily worse than all others. If a newbie really wants simplicity he should go for PPS, preferably in a pool with lower fee than deepbit's 10%.

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PatrickHarnett
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November 30, 2011, 09:09:27 PM
 #13

3: The payment/reward is simple cf Slush for newbies.  different methods, not one necessarily better than the other.
The proportional method used by deepbit is necessarily worse than all others. If a newbie really wants simplicity he should go for PPS, preferably in a pool with lower fee than deepbit's 10%.

I agree the 10% is amazingly high! 
bittenbob
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November 30, 2011, 11:22:58 PM
 #14

How is their proportional 10%. From what I see it is 3% and non matured shares are still paid. Their PPS is not a very good rate and if I look at how many shares I would have produced there I would have significantly less BTC if I did PPS. I tried slushs several times when I could not connect to deepbit but every share I mined except for 1 block which I only had about 5 shares for did not mature. For that reason alone I have stuck with deepbit.
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November 30, 2011, 11:41:24 PM
 #15

I agree the 10% is amazingly high!
When Deepbit was created there were only two online pools: Slush's and Bitpenny. Slush's was proportional and Bitpenny was PPS with 10% fee.
Later Bitpenny was hit by a bad luck run and had to close because 10% turned out to be not enough. That's one of reasons why I decided not to make it lower.

How is their proportional 10%. From what I see it is 3% and non matured shares are still paid.
10% is for PPS, 3% is for proportional.

Welcome to my bitcoin mining pool: https://deepbit.net ~ 3600 GH/s, Both payment schemes, instant payout, no invalid blocks !
Coming soon: ICBIT Trading platform
bittenbob
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November 30, 2011, 11:44:58 PM
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So then are we all in agreement that for proportional that Deepbit is the best pool?
PatrickHarnett
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December 01, 2011, 12:19:46 AM
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So then are we all in agreement that for proportional that Deepbit is the best pool?

No, that conclusion has not been reached, and is unlikely to be reached.  I also didn't think I needed to spell out the 10% vs 3% for the pps vs prop.
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December 01, 2011, 12:25:15 AM
 #18

It was poorly explained and since I mine with Deepbit I know I only lose 3%. If you read exactly what was written it looked like they take 10% from everything. Simply not true.
likuidxd
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December 01, 2011, 12:32:34 AM
 #19

No, I think it was pretty well written. That's what comma's are for.

Proportional pools are all the same over time, their only difference will be in fees. A pool already makes its own BTC on every block found there, typically the fees that have been attached by transactions and donations. Get yourself in a pool that you like, without a fee, there are a lot to choose from.

If I may add my own 2 bitcents, you may enjoy 0% fee PPS style pools better at 870 MH/s.

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December 01, 2011, 12:46:32 AM
 #20

A pool already makes its own BTC on every block found there, typically the fees that have been attached by transactions and donations.
How much BTC can pool make on a TX fees per day ?

Welcome to my bitcoin mining pool: https://deepbit.net ~ 3600 GH/s, Both payment schemes, instant payout, no invalid blocks !
Coming soon: ICBIT Trading platform
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