Bitcoin Forum
April 24, 2024, 10:56:18 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Pool with High hash rate vs pool with low hash rate?  (Read 8175 times)
djex (OP)
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
April 16, 2011, 07:55:45 PM
 #1

So I'm just getting into mining and I've tried slush, deepbit and btcmine pools. From what I've observed over the past few days is that each pool has roughly a steady total hash rate.

Deepbit: ~120Ghash/s
Slush: ~180Ghash/s
BTCmine: ~5.7Ghash/s

My question is will they all eventually equate to the same amount of earnings over time? I noticed that my estimated reward for slush over 1 hour is much lower than my estimated reward for btcmine. Now I'm assuming that this is because btcmine has fewer people mining and there for I get a larger portion but it will also take longer to finish a block on btcmine than slush's pool. To me it would seem that this would even out with the other pools over time but since I'm not 100% on the math and am fairly new to bitcoin maybe someone here can confirm this for me.

Also, if there is any benefit from mining on a pool with a higher hash rate apposed to a lower hash rate what would that be?

Smiley  : 1LbvSEJwtQZKLSQQVYxQJes8YneQk2yhE3
1713999378
Hero Member
*
Offline Offline

Posts: 1713999378

View Profile Personal Message (Offline)

Ignore
1713999378
Reply with quote  #2

1713999378
Report to moderator
The forum was founded in 2009 by Satoshi and Sirius. It replaced a SourceForge forum.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1713999378
Hero Member
*
Offline Offline

Posts: 1713999378

View Profile Personal Message (Offline)

Ignore
1713999378
Reply with quote  #2

1713999378
Report to moderator
1713999378
Hero Member
*
Offline Offline

Posts: 1713999378

View Profile Personal Message (Offline)

Ignore
1713999378
Reply with quote  #2

1713999378
Report to moderator
vuce
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
April 16, 2011, 08:07:17 PM
 #2

In case all three have the same % of provision, it is best to choose the one with the highest hash rate, as it will result in lower deviation.
EPiSKiNG
Legendary
*
Offline Offline

Activity: 800
Merit: 1001



View Profile
April 16, 2011, 08:07:30 PM
 #3

The higher the hashrate, the more likely a block will be found and the faster that this can occur.  With lower hashrate pools, blocks will be found less frequently, but you will receive a bigger reward.  I choose to err on the side of likelihood and frequency of block finding, hence I use deepbit.

But really, it'd probably be the same over the long run.

-EP

YOU CAN TRUST ME! EPiSKiNG-'s COINS!! BUYING / SELLING BTC - USA --- View my OTC Trading Feedback!!
<gribble> You are identified as user EPiSKiNG-, with GPG key id 721730127CD7574D, key fingerprint EBFC267F8F10EFD1FB84854D721730127CD7574D, and bitcoin address 1EPiSKiNG139bzcwTm8rxMFNfFFdanLW5K
JWU42
Legendary
*
Offline Offline

Activity: 1666
Merit: 1000


View Profile
April 17, 2011, 12:44:58 AM
 #4

But it is nice when BTCmine found 3 blocks in 7 hours - more BTC in that timeframe than I get from Deepbit in a week  Grin

Also - BTCmine charges just a 2% commission.

I would like to see BTCmine grow to a 3rd alternative to slush and deepbit.

That said, I have mined at all three and have nothing but good things to say about all of them.

ataranlen
Hero Member
*****
Offline Offline

Activity: 846
Merit: 1000


The One and Only


View Profile WWW
April 18, 2011, 11:10:07 AM
 #5

But it is nice when BTCmine found 3 blocks in 7 hours - more BTC in that timeframe than I get from Deepbit in a week  Grin

Also - BTCmine charges just a 2% commission.

I would like to see BTCmine grow to a 3rd alternative to slush and deepbit.

That said, I have mined at all three and have nothing but good things to say about all of them.

I'm a member of all three, and I mine with slush and deepbit on a rotating weekly basis, It tends to even out how much I earn Cheesy I have yet to really use BTCMine a whole lot.

MineTexas.com Minecraft Server We accept Bitcoin and Dogecoin.
Deepbit on Facebook: http://www.facebook.com/pages/Deepbit/151108048294815
djex (OP)
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
April 19, 2011, 04:58:37 AM
 #6

I'm a member of all three, and I mine with slush and deepbit on a rotating weekly basis, It tends to even out how much I earn Cheesy I have yet to really use BTCMine a whole lot.

Interesting. I think I'll give that a try for a few weeks and see how its goes. Think I'll throw in a week of BTCMine as well.

Smiley  : 1LbvSEJwtQZKLSQQVYxQJes8YneQk2yhE3
slurch
Member
**
Offline Offline

Activity: 70
Merit: 10



View Profile WWW
April 19, 2011, 05:01:00 AM
 #7

In case all three have the same % of provision, it is best to choose the one with the highest hash rate, as it will result in lower deviation.

This. Smiley

Donations accepted at: 1AXKzVc1tTmfC6VkWwBNSzKqThqhwsC5mY
For what, I have no idea...
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 3920
Merit: 2348


Eadem mutata resurgo


View Profile
April 19, 2011, 05:30:09 AM
 #8


A pool with lower hashrate is closer to mining solo, more variance (deviation) but more opportunity for luck ... good and bad.

Horses for courses.

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!