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Author Topic: Bitminter bitcoin mining pool - Pays TxFees, Merged Mining, Fair PPLNS rewards  (Read 307862 times)
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johnPalli
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February 21, 2018, 10:59:20 AM
 #1521

Which is the real advantage of setting the minimum difficulty? Will it result in a lower rejected proof of works? Will it lower also the accepted proofs of works because of their higher difficulty? That's a thing that I never worried about but I'm wondering if should I be setting something to have better performance in some ways.
Thanks in advance to anyone that will explain me that.
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bigolin
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February 21, 2018, 02:00:09 PM
 #1522

Doc did we ban rental hash? I haven't been able to get any rentals to connect for about a day now. Just checking to see if there was a change.

No. Maybe it's complaining about low difficulty? Try setting the minimum difficulty on the worker you are using for rentals to 1048576. On the workers page, click the gear icon to access these settings.


It was not a difficulty issue as I have multiple rental "Workers" set to different difficulties since it can take up to 20 minutes to apply the settings. Essentially I have a 1, a 100k, etc. I tried to connect to each of them independently but no dice. I just wasn't sure if the issue was pool side, in that we made a change, or rig side. The biggest concern I had is that I had used the rigs before here and it worked flawlessly. When I tried it yesterday neither rig would connect. Ended up costing me a bit since technically they classified it as a pool issue since the rig was online and would have hashed at other pools.


I haven't tried setting one to 1048576, that seems pretty high. The majority of the rentals I look at suggest from 30k to 120k, which is why I have the 100k worker and the standard 1 worker, and then a 36 or 60k worker to have a nice balance of options. I guess I can try a worker with the higher difficulty you suggest and see what happens.
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February 21, 2018, 05:17:11 PM
 #1523

Which is the real advantage of setting the minimum difficulty? Will it result in a lower rejected proof of works? Will it lower also the accepted proofs of works because of their higher difficulty? That's a thing that I never worried about but I'm wondering if should I be setting something to have better performance in some ways.
Thanks in advance to anyone that will explain me that.
It has no effect on performance, only the feedback you receive from the pool e.g. your hash rate.
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February 22, 2018, 05:43:38 AM
 #1524

Can I just vent?

I asked for a miner for Xmas. I got it.

Plugged it in to Bitminter on 12/22.

Found a block on 12/26 which paid me about 2 shifts worth.

Ever since... Crickets.

Actually, not crickets... It sounds like a nonstop vacuum cleaner in the next room.

Sigh.

Long live Satoshi Nakamoto.
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February 22, 2018, 11:09:22 AM
 #1525

Can I just vent?

I asked for a miner for Xmas. I got it.

Plugged it in to Bitminter on 12/22.

Found a block on 12/26 which paid me about 2 shifts worth.

Ever since... Crickets.

Actually, not crickets... It sounds like a nonstop vacuum cleaner in the next room.

Sigh.

Long live Satoshi Nakamoto.


Hang in there. I started my miners up on January 5th, so I didn't even get the luxury of the 2 shifts worth. Once we pop this one we'll move on and start rolling in the luck. If we're lucky  Grin
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February 23, 2018, 05:20:58 PM
 #1526

Which is the real advantage of setting the minimum difficulty? Will it result in a lower rejected proof of works? Will it lower also the accepted proofs of works because of their higher difficulty? That's a thing that I never worried about but I'm wondering if should I be setting something to have better performance in some ways.
Thanks in advance to anyone that will explain me that.
It has no effect on performance, only the feedback you receive from the pool e.g. your hash rate.

I see, thanks for the info Mikestang.
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February 26, 2018, 12:02:15 PM
 #1527

I know, I know, but it is still a brutal block.
MrZipster
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March 03, 2018, 02:00:24 AM
 #1528

Well, it's 2am in the good old UK.

And I predict this block will fall on its arse by 6am my time.

Last 4 hours, here we go!!  Undecided Shocked Grin
johnPalli
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March 04, 2018, 02:24:18 PM
 #1529

This block is getting ridicolous. It serms that a few people just gave up. The total hash rate has dropped a bit.
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March 05, 2018, 11:21:13 PM
 #1530

I don't know if this has been brought up before or not, but these long gaps between blocks are likely to get more frequent i would think unless the pool grows rapidly enough to keep up with the increasing difficulty. Given that possibility, would it be possible to look at paying out the fees every ten shifts or so? That way we get a little bit back every now and then no matter what.  I honestly have no clue what that would amount to.
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March 06, 2018, 02:17:46 AM
 #1531

I don't know if this has been brought up before or not, but these long gaps between blocks are likely to get more frequent i would think unless the pool grows rapidly enough to keep up with the increasing difficulty. Given that possibility, would it be possible to look at paying out the fees every ten shifts or so? That way we get a little bit back every now and then no matter what.  I honestly have no clue what that would amount to.

The problem is, with PPLNSG, only the LAST 10 shifts get paid...so in this case the many shifts which were completed before the last 10 will receive nothing in exchange for their work. The only way to provide a payment to EVERYONE is to treat this like a completely different pool, which I don't believe is the goal. Many people are here because they prefer the PPLNSG Format, and in addition, believe in supporting smaller pools so that we remain decentralized. If more users come, then of course we will theoretically find blocks faster, but users will receive less BTC for their share due to having to spread the love to all the workers.

I guess I might be misunderstanding your question or thought, but it sounds like you are looking for more of a PPS pool which pays you per share no matter the luck of the pool. The biggest downside to these other than the obvious centralization issue, would be the higher fees that are charged to maintain that type of pool. Pool operators of PPS must pay the reward per share and to cover the times of bad luck, they charge higher fees. It's just the nature of the beast.

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March 06, 2018, 03:43:24 AM
 #1532

Hi again,

I'm happy with the payout system for blocks, I've been happy with it forever. Just cause it says newbie here doesn't mean I'm a newbie to mining or to the pool. I was just thinking about the income from the transaction fees could be distributed a little more frequently than once every block is found now that that blocks will start coming more slowly. That was my comment. I don't know if that is any interesting amount of bitcoin or not. I would say to use the say last 10 shifts format for this kind of payout scheme as well. I don't know, maybe I'm advocating uncoupling the payout of the transaction fees and the blocks from each other. Both should still be PPLNS though.
Biffa
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March 06, 2018, 09:57:15 AM
 #1533

You only get the fees if you find a block, there are no fees to distribute if a block is not found.

Mine at pools that pay transaction fees & don't mine empty blocks :: kanopool :: ckpool ::
If anyone wants a £100 bitmain coupon free please pm me.
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March 06, 2018, 07:16:23 PM
 #1534

Thanks Biffa, I didn't know that. I thought that some fraction of our hashes were actually being used for generate transaction fees on the network and we would be getting those paid to the pool. I was unaware that we only earned transaction fees upon the creation of a block. Thanks again.
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March 06, 2018, 07:18:13 PM
 #1535

Thanks Biffa, I didn't know that. I thought that some fraction of our hashes were actually being used for generate transaction fees on the network and we would be getting those paid to the pool. I was unaware that we only earned transaction fees upon the creation of a block. Thanks again.

That's the way it works for any and all pools.  You have to find a block first.
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March 06, 2018, 10:24:38 PM
 #1536

Hi Rifleman,

I got myself confused between 'pays TxFees' and the idea that we were somehow going to get income from hashing transactions that occur on the network and we could collect income just from processing the normal transactional behavior of the network. Someone collects all those little .00002 bitcoin fees from each transaction on the web and I was thinking that these coins would go to the people doing the hashing. So even though we weren't finding a block, we would be doing useful work for the network and there would be the possibility of deriving some income from it. I thought that was what the 'pays TxFees' meant in the description of the pool. I can see now that I was mistaken and did not understand things properly. I'm fully cognizant that other pools only pay when the blocks get found. I just thought we were special in some way in that we shared in this other kind of income as well, it was a misunderstanding of how things work.
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March 06, 2018, 10:51:49 PM
 #1537

Yeah, those transaction fees, we get them when we mine a block. There's noone on the web collecting them. And noone is earning them in between blocks. When we create a block we put transactions in the block. We earn the new coins created in the block, plus the transaction fees for the transactions we put in the block.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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March 06, 2018, 11:02:12 PM
 #1538

This long round is getting rather annoying and several people have been trying to end it by renting extra hashpower, but had problems getting that to work.

Mining servers have been updated today to make rentals run more smoothly on Bitminter:
  • Default worker difficulty is now 4096
  • Auto detect Nicehash worker and use minimum difficulty 1 million
  • Minor tweaks to difficulty auto adjustment algorithm

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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March 07, 2018, 04:34:36 AM
 #1539

Yeah, those transaction fees, we get them when we mine a block. There's noone on the web collecting them. And noone is earning them in between blocks. When we create a block we put transactions in the block. We earn the new coins created in the block, plus the transaction fees for the transactions we put in the block.


I guess I misunderstood too... So you're saying we aren't accumulating transaction fees since December.  The only transaction fees that are paid out are those that are part of the block that is found by us.   Is that right?

Is there some explanation other than a long run of bad luck for why this is taking so long? Has difficulty jumped that much higher? Other variables?
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March 07, 2018, 07:27:57 AM
 #1540

Yeah, those transaction fees, we get them when we mine a block. There's noone on the web collecting them. And noone is earning them in between blocks. When we create a block we put transactions in the block. We earn the new coins created in the block, plus the transaction fees for the transactions we put in the block.


I guess I misunderstood too... So you're saying we aren't accumulating transaction fees since December.  The only transaction fees that are paid out are those that are part of the block that is found by us.   Is that right?

Is there some explanation other than a long run of bad luck for why this is taking so long? Has difficulty jumped that much higher? Other variables?


Only variables that affects block finding is luck. Hashrate of the pool and difficulty play a big part in expected luck but not actual luck. In reality of course the ratio between hashrate and difficulty is the main driver of a pools efficacy.

Bottom line difficulty is going through the roof. It's doubled since the beginning of December. A pool needs to have doubled it's hashrate to keep up even with average (100%) luck. It also needs to be large enough to get its expected number of blocks within each difficulty change.

Bad luck will affect smaller pools over short time periods, but all pools no matter what size suffer from it. If a pool can maintain its Hash to difficulty ratio then over the long term given average luck, then Fees will play a part in how much is earned.

Mine at pools that pay transaction fees & don't mine empty blocks :: kanopool :: ckpool ::
If anyone wants a £100 bitmain coupon free please pm me.
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