Bitcoin Forum
May 07, 2024, 10:40:51 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
1715121651
Hero Member
*
Offline Offline

Posts: 1715121651

View Profile Personal Message (Offline)

Ignore
1715121651
Reply with quote  #2

1715121651
Report to moderator
There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715121651
Hero Member
*
Offline Offline

Posts: 1715121651

View Profile Personal Message (Offline)

Ignore
1715121651
Reply with quote  #2

1715121651
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!