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Author Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01  (Read 324437 times)
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AriesIV10
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February 29, 2016, 06:57:04 PM
 #821

We should all rent a PedaHash or 2 from NiceHash at once and shake out another BTC.

Anyone in?

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February 29, 2016, 08:22:33 PM
 #822

Never rented hash before so don't know what to do   Undecided

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February 29, 2016, 08:33:51 PM
 #823

Never rented hash before so don't know what to do   Undecided

NiceHash.com is the best.  Sign up for an account.  Send bitcoin to the NiceHash Wallet.  Setup Pool details: mint.bitminter.com.  Create new order.  Don't forget to setup a new miner name on Bitminter to send the Hash to.

Watch the video:  https://youtu.be/_5OPQpfmwyY

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February 29, 2016, 09:29:13 PM
 #824

Never rented hash before so don't know what to do   Undecided

NiceHash.com is the best.  Sign up for an account.  Send bitcoin to the NiceHash Wallet.  Setup Pool details: mint.bitminter.com.  Create new order.  Don't forget to setup a new miner name on Bitminter to send the Hash to.

Watch the video:  https://youtu.be/_5OPQpfmwyY

Does it have to be a different worker or can it be the same worker name ive already got?

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AriesIV10
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February 29, 2016, 09:51:46 PM
 #825

Never rented hash before so don't know what to do   Undecided

NiceHash.com is the best.  Sign up for an account.  Send bitcoin to the NiceHash Wallet.  Setup Pool details: mint.bitminter.com.  Create new order.  Don't forget to setup a new miner name on Bitminter to send the Hash to.

Watch the video:  https://youtu.be/_5OPQpfmwyY

Does it have to be a different worker or can it be the same worker name ive already got?

It can be the same worker, but I would recommend that you create a new one to see the hashing difference.

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February 29, 2016, 09:55:44 PM
 #826

Never rented hash before so don't know what to do   Undecided

NiceHash.com is the best.  Sign up for an account.  Send bitcoin to the NiceHash Wallet.  Setup Pool details: mint.bitminter.com.  Create new order.  Don't forget to setup a new miner name on Bitminter to send the Hash to.

Watch the video:  https://youtu.be/_5OPQpfmwyY

Does it have to be a different worker or can it be the same worker name ive already got?

It can be the same worker, but I would recommend that you create a new one to see the hashing difference.

Well ive setup my account just waiting for the payment to clear (first time ive sent btc so hope ive done it correctly). Also set up another worker as you've suggested.

Still got to wok out the orders aspect, but would like to cover as many shifts as possible to raise my share of the block if one is found.

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AriesIV10
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February 29, 2016, 10:28:24 PM
 #827

Never rented hash before so don't know what to do   Undecided

NiceHash.com is the best.  Sign up for an account.  Send bitcoin to the NiceHash Wallet.  Setup Pool details: mint.bitminter.com.  Create new order.  Don't forget to setup a new miner name on Bitminter to send the Hash to.

Watch the video:  https://youtu.be/_5OPQpfmwyY

Does it have to be a different worker or can it be the same worker name ive already got?

It can be the same worker, but I would recommend that you create a new one to see the hashing difference.

Well ive setup my account just waiting for the payment to clear (first time ive sent btc so hope ive done it correctly). Also set up another worker as you've suggested.

Still got to wok out the orders aspect, but would like to cover as many shifts as possible to raise my share of the block if one is found.

Remember:  you want as much hashrate as you can get for the cheapest price for the longest period of time so, check the going rate for the orders in SHA256 before making an order as different times of the day have better rates than others.  Also, play around with the (btc, speed, and price) in the new orders to get the best value.

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February 29, 2016, 11:04:19 PM
 #828

Well ive sent 0.1btc to my nicehash wallet so ill see what that can get me  Cheesy

I can get 15Th for 53hours at 0.0030btc/th/day.

Having never done this before is that a good rate?

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AriesIV10
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February 29, 2016, 11:23:10 PM
 #829

Yes, that is a good test amount. 

I just bought in at .0029 which is pretty good for me, but it may not last long.

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February 29, 2016, 11:56:19 PM
 #830

Yes, that is a good test amount. 

I just bought in at .0029 which is pretty good for me, but it may not last long.

Thats good.   I have been renting 100th, 250th and 500th.   Waiting till I make a little back before I invest too much.. lolz

Nice to meet ya AriesIV10.

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March 01, 2016, 12:01:30 AM
 #831

Yes, that is a good test amount. 

I just bought in at .0029 which is pretty good for me, but it may not last long.

Thats good.   I have been renting 100th, 250th and 500th.   Waiting till I make a little back before I invest too much.. lolz

Nice to meet ya AriesIV10.



Very Wise!

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March 01, 2016, 04:17:26 PM
 #832

Well I'm renting 10Th for a couple of days hopefully it will pay for itself in that time. It keeps dropping out though. Is it better to do standard and adjust the price to get it running again or have fixed at a slightly higher price?

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March 01, 2016, 05:40:49 PM
 #833

Well I'm renting 10Th for a couple of days hopefully it will pay for itself in that time. It keeps dropping out though. Is it better to do standard and adjust the price to get it running again or have fixed at a slightly higher price?


Yes, I have rented and am hoping that one comes through very soon!  I heard the new block announcement sound effect go off about an hour ago...must have been a NMC.

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March 01, 2016, 06:52:24 PM
 #834

I have always rented Fixed at a slightly higher price.  Reason being is your order will go on pause if the price goes up on a standard order. Then after the price goes back down your miners will restart.  Here's the thing.  All of your miners dropping out near the end or in the beginning of a shift can dramatically decrease your return if its not fast enough to catch up work and get your regular shift work percentage.  I like to keep mine between 5-10% on all shifts, therefore guarantying a profit return, unless the block solve goes beyond 80%, but then again, if we hit 2 in a row after, its all good and 70% profit Smiley

Just my 2cents ....
 
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March 01, 2016, 07:05:21 PM
 #835

I have always rented Fixed at a slightly higher price.  Reason being is your order will go on pause if the price goes up on a standard order. Then after the price goes back down your miners will restart.  Here's the thing.  All of your miners dropping out near the end or in the beginning of a shift can dramatically decrease your return if its not fast enough to catch up work and get your regular shift work percentage.  I like to keep mine between 5-10% on all shifts, therefore guarantying a profit return, unless the block solve goes beyond 80%, but then again, if we hit 2 in a row after, its all good and 70% profit Smiley

Just my 2cents ....
 

That is exactly what I wanted to confirm. Looks like I'll be doing a fixed one next time then. Keep getting emails saying the hashrate has decreased  Roll Eyes

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March 01, 2016, 07:21:50 PM
 #836

I have always rented Fixed at a slightly higher price.  Reason being is your order will go on pause if the price goes up on a standard order. Then after the price goes back down your miners will restart.  Here's the thing.  All of your miners dropping out near the end or in the beginning of a shift can dramatically decrease your return if its not fast enough to catch up work and get your regular shift work percentage.  I like to keep mine between 5-10% on all shifts, therefore guarantying a profit return, unless the block solve goes beyond 80%, but then again, if we hit 2 in a row after, its all good and 70% profit Smiley

Just my 2cents ....
 

That is exactly what I wanted to confirm. Looks like I'll be doing a fixed one next time then. Keep getting emails saying the hashrate has decreased  Roll Eyes

Glad I could help.
Just remember that your rentals need to cover at least 24 hours, if not more, as each shift is 1/10 of your work, and is approx 6 hours each at the current time.
Its better to rent smaller for more hours, than to send 1pt for 6 hours..
Ex.( 1 pth would be 33% aprrox of pool, but 33/10 when your rental runs out and you get all 0's for the remaning shifts would equal only 3.3% of the 25 btc reward = 0.825 btc.
I can run 150 th for 24 hours for around .5btc, and get all shifts around 4%, therefore 25 x 4 %  = 1 btc, and if we hit two in a 24 hour period, well that's 2 btc, a 150% profit.

Just making it easier to understand for everyone.  Your not competing against the User hash-rate roster, just the total pool hash-rate.
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March 01, 2016, 07:32:37 PM
 #837

That's what I've tried to do for this trial of renting. Spread it out to cover ten shifts (approximately 50hours) so I cover as many as possible at a better rate so I get a better percentage of the share. If this pays off I'll try a bigger rental for shorter time.

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March 02, 2016, 09:37:20 AM
 #838

We should all rent a PedaHash or 2 from NiceHash at once and shake out another BTC.

Anyone in?
I'm in)
Let rock&roll&smokeit
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March 02, 2016, 04:07:09 PM
Last edit: March 02, 2016, 04:21:06 PM by ATCkit
 #839

http://organofcorti.blogspot.ca/search/label/weeklypoolstatistics

On organofcorti's blog, Bitminter looks like the best.

I put a couple rigs on here from time to time and have been happy. However, recently I found it disappointing when my shares were worth nothing.

http://prntscr.com/aaats7

Here's what the Reward System says:

 "When we create a new block you get a share of the income proportional to how much of the work in the last 10 completed shifts is yours. This reward system is known as PPLNS with shifts."

 It's good pool otherwise.

EDIT: I realize that the time since the last block was found is longer than usual. It was found by Fefox on 2016-02-29 01:20. However, losing submitted shares when there's an usually long block hurts. Especially as difficulty is so high and most pools are having longer blocks than usual right now. When miners are losing shares, that puts Bitminter at a disadvantage from a miner's perspective. Perhaps a new rewards system is required. For example: extend it from 10 shifts to 20 shifts??

EDIT 2: Another example where i got no reward for 4 shifts: http://prntscr.com/aab0ui
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March 02, 2016, 05:11:14 PM
 #840

When a block is found the last 10 shifts get paid. Sometimes we find
blocks quickly and a shift gets paid many times. Sometimes it takes a
long time to find a block and some shifts don't get paid at all.

This evens out over time.

If you mine 24/7 you won't notice it. Having 1% of the hashrate gets you
1% of the mined coins. Which shifts you got paid through doesn't really
matter. If you get paid 0.1 BTC for work you did in the morning and 0
BTC for your work in the evening, that is essentially the same as
getting 0.05 BTC for the morning and 0.05 BTC for the evening. The end
result is the same, you got 0.1 BTC.

If you are a part time miner you will notice some variance. If you mine
one hour per day, you could get very lucky or very unlucky with the
payout. In the future I hope to increase the size of the shifts to even
this out more for part time miners. For now the shifts need to be short
so it doesn't take too long from you do some work until it is fully
paid. We can change this if we are able to increase our percentage of
the global hashrate in the future.

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