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Author Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01  (Read 324339 times)
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HerbPean
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October 01, 2014, 07:51:01 PM
 #61

Anyone else got their miners jumping in and out of the Pool ?

All good now
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fungal
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October 01, 2014, 11:53:50 PM
 #62

Anyone else got their miners jumping in and out of the Pool ?

I tend to as electricity prices are high here and I have them come on in the day (sunshine) so I can use the salar panels on the roof....

Been considering selling off the USB block erupters (333) and the cubes I got... as it is starting to become non-ecconomical... even with alt coins...
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October 02, 2014, 03:22:01 PM
 #63

Anyone else got their miners jumping in and out of the Pool ?

I tend to as electricity prices are high here and I have them come on in the day (sunshine) so I can use the salar panels on the roof....

Been considering selling off the USB block erupters (333) and the cubes I got... as it is starting to become non-ecconomical... even with alt coins...

Sorry for the confusion, all my miners points here on Bitminter, all the time. It's just that yesterday, they were jumping on my fail-over pool for no apparent reason.
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October 03, 2014, 01:54:52 PM
 #64

I don't know if you guys follow the general Macro metrics of Bitcoin but I like to see what's happening at a high level.  Here is a chart I've been watching closely.  The wat I see it, more transactions spread around the network means more adoption.  I feel as though this could be a good leading indicator of where the BTC market is heading. Obviously we all look at the current price but with that aside, do you guys have any charts that you watch? 

https://blockchain.info/charts/n-transactions-excluding-popular


Heavy Hash rate folks, I'd be particularly interested to see what you're watching.
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October 03, 2014, 03:18:29 PM
 #65

I don't know if you guys follow the general Macro metrics of Bitcoin but I like to see what's happening at a high level.  Here is a chart I've been watching closely.  The wat I see it, more transactions spread around the network means more adoption.  I feel as though this could be a good leading indicator of where the BTC market is heading. Obviously we all look at the current price but with that aside, do you guys have any charts that you watch? 

https://blockchain.info/charts/n-transactions-excluding-popular


Heavy Hash rate folks, I'd be particularly interested to see what you're watching.

I follow quite a few, but as a small-time miner (~ 1 Tbps + or -), I am partial to:  https://bitcoinwisdom.com/bitcoin/difficulty

This shows both Bitcoin and Litecoin difficulty metrics and predictions -- both of which I am mining (FYI: my one and only pool that I've mined BTC on for almost a year is BitMinter)

And it just so happens, that as I write this, it predicts the next difficulty at just+0.91% above current; however, that has been falling all week. Will we see a difficulty DROP this time?  It's still looking that way, but of course not guaranteed until it happens.

 
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October 03, 2014, 03:26:30 PM
 #66

I don't know if you guys follow the general Macro metrics of Bitcoin but I like to see what's happening at a high level.  Here is a chart I've been watching closely.  The wat I see it, more transactions spread around the network means more adoption.  I feel as though this could be a good leading indicator of where the BTC market is heading. Obviously we all look at the current price but with that aside, do you guys have any charts that you watch?  

https://blockchain.info/charts/n-transactions-excluding-popular


Heavy Hash rate folks, I'd be particularly interested to see what you're watching.

I follow quite a few, but as a small-time miner (~ 1 Tbps + or -), I am partial to:  https://bitcoinwisdom.com/bitcoin/difficulty

This shows both Bitcoin and Litecoin difficulty metrics and predictions -- both of which I am mining (FYI: my one and only pool that I've mined BTC on for almost a year is BitMinter)

And it just so happens, that as I write this, it predicts the next difficulty at just+0.91% above current; however, that has been falling all week. Will we see a difficulty DROP this time?  It's still looking that way, but of course not guaranteed until it happens.

  

I also follow the same. The estimation follow a trend where is over-estimate the difficulty for the most part until like 2 days remains. Then, most of the time, the estimation is really really close to reality. There is another important trend to know too, it's that most of the time, at the end of a difficulty a bunch of Hashrate is added into the network. So for now, we are close to 1-2% but more hashrate could be added until the end of the difficulty. BTC is going down tho, might not happen.

EDIT: all indications for now tell us that we might see the first negative adjustment since a long time. (maybe forever ? can't tell)
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October 03, 2014, 04:54:14 PM
 #67


EDIT: all indications for now tell us that we might see the first negative adjustment since a long time. (maybe forever ? can't tell)

There was a difficulty decrease way back in early 2013 I believe.

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theweiss
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October 03, 2014, 06:21:17 PM
 #68

It would be great to catch a break.  Even if only this once... Grin
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October 03, 2014, 07:07:17 PM
 #69

It would be great to catch a break.  Even if only this once... Grin

Since BTC is going down, some will just stop mining. Another 10% drop and it might be more then once Wink
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October 03, 2014, 07:23:47 PM
 #70

Shift size has been reduced to 0.1x difficulty (10 shifts = 1x difficulty worth of work). That is 25% of the former shift size. This means the delay from you do some work until that work is fully paid will be much shorter than before. Because of the increasing difficulty this delay had grown to over 5 days. The new shift size should make the delay more reasonable.

The downside is increased short term variance. This doesn't matter if you are mining in the pool 24/7. It's the same coins being paid out, and if you have 1% of the hashrate then you get 1% of the coins. But if you mine in the pool part time then you may notice greater variance with your part time mining, meaning you can notice the good and bad luck swings more than before. The chance will be higher for shifts with very good pay, but also shifts with zero pay. This can be painful for part time miners if they mine at the "wrong" time, and don't mine during the high-paying shifts. If our hashpower increases in the future we will increase the shift size to reduce short-term variance again.

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October 03, 2014, 08:01:56 PM
 #71

Shift size has been reduced to 0.1x difficulty (10 shifts = 1x difficulty worth of work). That is 25% of the former shift size. This means the delay from you do some work until that work is fully paid will be much shorter than before. Because of the increasing difficulty this delay had grown to over 5 days. The new shift size should make the delay more reasonable.

The downside is increased short term variance. This doesn't matter if you are mining in the pool 24/7. It's the same coins being paid out, and if you have 1% of the hashrate then you get 1% of the coins. But if you mine in the pool part time then you may notice greater variance with your part time mining, meaning you can notice the good and bad luck swings more than before. The chance will be higher for shifts with very good pay, but also shifts with zero pay. This can be painful for part time miners if they mine at the "wrong" time, and don't mine during the high-paying shifts. If our hashpower increases in the future we will increase the shift size to reduce short-term variance again.


No Prob Doc just let us know when the good time is and we will all be set!!

thanks for the update.  I still thinks 10-20 mins is better but that is just me ;-)

Fahlcor
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October 04, 2014, 12:05:45 AM
 #72

Yeah, the long shifts were actually sort of nice for me, as I lease my antminers on leaserig. When they get picked up, usually it wasn't for a full shift, so I avoided large holes, I just have a shift of lower speed than the others.  I bumped my lease price a bit to accommodate and still had someone rent for around 5 hours today, so I may move the rate up a little bit more and see what happens.
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October 04, 2014, 11:28:13 AM
 #73

To show how your mining has been paying, which is better?

  • Pay per proof-of-work (share) in bitcoins e.g. 0.0000000002056180 BTC
  • Pay per billion proofs-of-work (shares) e.g.0.20561798 BTC
  • Pay per proof-of-work (share) in satoshis e.g. 0.02056180 satoshis
  • Pay per TH/s e.g. 0.0000000478741685 - what 1 TH/s earned per second
  • Pay per TH/s/shift e.g. 0.0005170410195979 (3 hour shift) or 0.0010340820391959 (6 hour shift) - what 1 TH/s earned for a variable time period
  • Pay per TH/s/hour e.g. 0.0001723470065326 - what 1 TH/s earned per hour
  • Pay per TH/s/day e.g. 0.0041363281567834 - what 1 TH/s earned per day
  • Something else?

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marklyon
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October 04, 2014, 04:14:58 PM
 #74

Estimated TH/hr would be a useful metric, I think, particularly if projected against other pools.
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October 04, 2014, 04:42:45 PM
 #75

I also like Th/hr (average).  But please don't take away any of the existing stats such as expected earnings per block, etc.  Those are still very useful, considering many of us ONLY mine at BitMinter.  But he more stats, the better.

One question on the new shift sizes... I see the current shift at around 3 1/2 hours; however the percentage shows ~25%.  Shouldn't this be closer to 100%, given that each shift is now around 3 1/2 hours, give or take some minutes, based on the current pool hash rate?

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October 04, 2014, 05:21:19 PM
 #76

I also like Th/hr (average).  But please don't take away any of the existing stats such as expected earnings per block, etc.  Those are still very useful, considering many of us ONLY mine at BitMinter.  But he more stats, the better.

You can still see how much you got paid for a block in your transaction history.  Do you still need the prediction of what you might get if we found a block right now?

The reason I want to remove it is that it has caused so much confusion and invalid interpretations of how the reward system works. I want to remove stats that people don't understand and that leads to wrong assumptions, and replace it with stats that are understandable.

When people see they get low pay per block until they have mined 10 shifts, they assume they have to mine for free to ramp up the shifts before they get proper pay. That's incorrect and the logic is wrong. But the stats shown today easily lead people down this train of thought.

I'd rather have people look at how they mined from 06:00 to 09:00 and got paid X coins for that work. Then they worked from 09:00 to 12:00 and got paid Y coins for that. Here you see clearly what is happening. There is no mining for free to ramp up the shifts, and the stats shown do not lead you to that wrong assumption either.

I think stats that lead people to broken logic and misinterpretation are best removed.

One question on the new shift sizes... I see the current shift at around 3 1/2 hours; however the percentage shows ~25%.  Shouldn't this be closer to 100%, given that each shift is now around 3 1/2 hours, give or take some minutes, based on the current pool hash rate?

Sorry, I had forgotten to update the score/completion display in the livestats. If you refresh the page you should see the correct shift completion percentage. You may need to clear your browser cache.

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Fahlcor
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October 04, 2014, 05:57:17 PM
 #77

I like BTC/thash/day as that is what a lot of the rental sites are using.  easy for comparison then.

and sites like http://poolpicker.eu/graph show hmash/day but that is easy to convert.

just my quarter.

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October 04, 2014, 08:29:02 PM
 #78

Oke, i must be understanding this way wrong.

I see that the shifts are shorter, my work is less because of the shift time i see.

Then i look at what i now earn per block, W.T.H., is this a really bad joke.

First with 3 blocks i have 0.01 btc and now that is gonna be after 10 blocks.

The only profit i see now that the heat is drying my clothes faster when they hang after being washed.

Now i must actually stop mining... not fun.




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October 04, 2014, 08:54:50 PM
 #79

I see that the shifts are shorter, my work is less because of the shift time i see.

Everyone's work per shift is less because the shift is shorter. Your percentage of work in the shift is the same.

Then i look at what i now earn per block, W.T.H., is this a really bad joke.

The shorter shifts do not change what you get per block. If you have x% of the pool hashpower then you get x% of the coins that are paid out. Same as always.

First with 3 blocks i have 0.01 btc and now that is gonna be after 10 blocks.

If you got 0.01 BTC per block then you will keep getting that until your hashrate or the pool hashrate changes (changing your percentage of pool hashpower).

Pay per block is very confusing and pretty much irrelevant though. Better shift stats coming soon, which will be much more useful.

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October 04, 2014, 08:59:36 PM
 #80

Little scared because of what i see, but i know that i must trust what you say.

Thanx for all you do Dr.

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