Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01

[gt_addict]

Anyone know what kind of miners the last two blocks were found with? Never seen those names on the top minera list.

[in2tactics]

Anyone know what kind of miners the last two blocks were found with? Never seen those names on the top minera list.

I have no clue, but it sure was a nice find by MINEO13CC considering he is averaging between 10 and 12 TH/s.

[gt_addict]

Certainly was a nice one. Good to see a smaller miner get one. I've got no chance as I'm only just pushing 1Th lol.

[in2tactics]

Certainly was a nice one. Good to see a smaller miner get one. I've got no chance as I'm only just pushing 1Th lol.

I have yet to find a block for Bitcoin. I have no allusions about my chances as I am in a similar boat to yours. I guess my Litecoin block finds will have to tide me over for now.

[bwstacker1]

              gt_addict, I hear ya man. But I only got 250 in my miners. I have made 1500 off of them. Free electric helps a lot though. Imagine some one hitting with those geko things. But those sticks are efficient though. Good luck to ya.

[gt_addict]

Good luck to you too

Best share ive got so far was 8G on my S3+. Best share on my cgminer with the U3's and gecko was 195M so they are close. Just wish I knew which of the ones on cgminer got that close lol. Its frustrating not being able to expand the window any larger or be able to scroll up and down the shares list.

On a different note, can someone crack this block please. I don't want to have to crack out the red boxers again, they just aren't my colour 

[AaronS]

With a heavy heart, after 2 years and 4 months of exclusive mining with Bitminter, I shut down my Jupiter today.  It had barely been breaking even (or probably losing money) for some time now and I needed the space back, plus, with the weather warming up I really didn't want the heat in the house anymore and my shed is full of other things.  I sold it cheap on Craigslist and hoped to recommend the new owner use Bitminter, but when he picked it up he only wanted the power supplies and actually left the Jupiter with me.  It now sits, lonely and cold, in it's original shipping box.

I started mining in December 2013.  The difficulty was 707 Million and my 675 GH/s was making almost half a bitcoin a day!  With the price bouncing around $1000 US, every minute of downtime would have been expensive.  Bitminter was, and always has been, solid.  Back then we were finding 10+ blocks a day.  Four months in, I found my one and only block: 290714.  It was a green block with 20.5% CDF, 2h33min.  The feeling when I checked the Blocks list and saw my name was amazing.

Newer firmware, which I didn't want to install because it would mean downtime, bumped me up to about 720 GH/s.  A major power outage last fall knocked out one of my 4 modules, reducing me to 560 Gh/s, but it didn't really matter anymore. Today, at the current difficulty of 166 billion (an increase of more than a factor of 200 since I started) my Jupiter was making about 0.05 bitcoin a month, and dropping all the time.

Mining has been good to me and I have no regrets.  As great as it was to be "in" when ASICs were first appearing, it seems to me that it marked the beginning of the end of the hobbyist miner as it meant data centers of miners became practical, well, that and the huge increase in the value of bitcoin meant it was worth doing.  I fear for bitcoin as the mining becomes more centralized and more geographically localized: it's losing the distributed nature that is central to it's security.

My intention for writing this is not to bring anyone down, I just wanted to share my melancholy with people who would understand.

Best of luck to you all, and a special thanks to the Dr.

[bwstacker1]

With a heavy heart, after 2 years and 4 months of exclusive mining with Bitminter, I shut down my Jupiter today.  It had barely been breaking even (or probably losing money) for some time now and I needed the space back, plus, with the weather warming up I really didn't want the heat in the house anymore and my shed is full of other things.  I sold it cheap on Craigslist and hoped to recommend the new owner use Bitminter, but when he picked it up he only wanted the power supplies and actually left the Jupiter with me.  It now sits, lonely and cold, in it's original shipping box.

I started mining in December 2013.  The difficulty was 707 Million and my 675 GH/s was making almost half a bitcoin a day!  With the price bouncing around $1000 US, every minute of downtime would have been expensive.  Bitminter was, and always has been, solid.  Back then we were finding 10+ blocks a day.  Four months in, I found my one and only block: 290714.  It was a green block with 20.5% CDF, 2h33min.  The feeling when I checked the Blocks list and saw my name was amazing.

Newer firmware, which I didn't want to install because it would mean downtime, bumped me up to about 720 GH/s.  A major power outage last fall knocked out one of my 4 modules, reducing me to 560 Gh/s, but it didn't really matter anymore. Today, at the current difficulty of 166 billion (an increase of more than a factor of 200 since I started) my Jupiter was making about 0.05 bitcoin a month, and dropping all the time.

Mining has been good to me and I have no regrets.  As great as it was to be "in" when ASICs were first appearing, it seems to me that it marked the beginning of the end of the hobbyist miner as it meant data centers of miners became practical, well, that and the huge increase in the value of bitcoin meant it was worth doing.  I fear for bitcoin as the mining becomes more centralized and more geographically localized: it's losing the distributed nature that is central to it's security.

My intention for writing this is not to bring anyone down, I just wanted to share my melancholy with people who would understand.

Best of luck to you all, and a special thanks to the Dr.

    What are you doing with that miner man i got frrr electric. You want to sell it? If so what you want for it. I got psu man.

[bwstacker1]

Thanks for the opinions on the shift length.

I do concur with scyth3. However, based on my previous assessment, I would also opine that having a greater risk versus reward ratio will attract more renters looking for a higher potential payout and will therefore increase the pool's average hashing rate.

Personally I agree. It seems pointless to gamble with a small jackpot and with the odds stacked against you (as they always are at casinos and when renting overpriced hashes). On the other hand, people do play the penny slots at casinos for hours. There must be some attraction to it.







 i have won big money off of pennies Dr. Spent  4 and won 6000 ONCE. iT IS ALL IN THE LUCK. i LIKE bITCOIN FOR THIS REASON. iT IS THE THRILL OF WHAT COULD HAPPEN. We WOULD NEVER REALLY MAKE ANY MONEY IF EVERYONE WAS ALREADY ON THE WAGON. You have to be thee before the store. lol
 

[DrHaribo]

AaronS, thanks for mining with us for such a long time.

It is indeed a shame that mining has become so centralized.

I hope you'll still be part of the bitcoin world, even though you won't be mining.

[wmabern]

Six and a half freakin' days for a block!!  
That's not sustainable.

When you plan out your strategies for 5 to 6 1/2 days max to hit a block and it's already over 6 days 13 hours in duration. That certainly throws a left-handed monkey wrench into the gears.

Well, that might be a good thing because the last time I bitc#ed and complained, a block was found soon after (actually it was found as I typed) So let's hope for the best and cross the fingers!
:-)

[gt_addict]

I was thinking the same thing when I checked the website. I wore red underwear (not the girlfriends stuff though) when the cdf turned red but no joy. Can't remember the last time I saw a 90% block.

[wmabern]

The last 90% block (92%) only took 5 days 13 hours

[wmabern]

Even a 96.4% CDF block back in December only took 4 days and 22 hours!  

Continuing to watch those high percentage scores fall into non-payable zone is getting very, very old.

I may have to look around at some of the other pools that pay out more frequently, but with a smaller payout. I know they will eventually work themselves out evenly in the long run. But...
But the long run isn't today.

I'm pretty sure that is the reason the hash power is going somewhere else. Which in turn causes a vicious circle. Less hash=longer to hit a blocks.

Hitting 4 or 5 blocks a month is not doing it. (That number may be, and probably is slightly inaccurate, but is probably becoming the average.) I know it evens out eventually, so I don't need to hear about that info.

rant/

Also just noticed the difficulty has gone back up again. Oh joy!

[wmabern]

It's also interesting (and annoying) to see that in the last two months the same person has a hit a block 4 separate times. That's pretty damn lucky.

No personal animosity, just wish it were me. If I weren't too busy today (and hated math) I would sit down and and try to figure out the odds of that happening. I'm sure the odds are pretty darn steep.
Maybe that person should be playing Powerball also.

[cardseller121]

ON the accounts page what does the future column represent?

[gt_addict]

i cant see what you are on about. What specific section of the "my account" menu are you talking about?

[teslaman]

Continuing to watch those high percentage scores fall into non-payable zone is getting very, very old.

I may have to look around at some of the other pools that pay out more frequently, but with a smaller payout. I know they will eventually work themselves out evenly in the long run. But...
But the long run isn't today.

I'm pretty sure that is the reason the hash power is going somewhere else. Which in turn causes a vicious circle. Less hash=longer to hit a blocks.

I thought I should chime in on this, since lengthening the payable shifts would actually force me to leave. I'm not sure how much longer I can keep my ~10.7TH of Neptune miners running anyways, but that would certainly kill it for me. Those dead zones are a gambling opportunity to save on electric without losing anything. Just 24hrs of downtime saves me $15. I hope to keep going until the halving, but we'll see. Would be great to see that idea bring more power hungry miners back to the pool, even if they only mine for around 2/3 of the month.

I could be wrong, but I doubt that most people leave over the payable shift length and instead leave because of the periods of bad luck. Nearly a week is a long time to see no payouts and some people just don't have the patience.

Hitting 4 or 5 blocks a month is not doing it. (That number may be, and probably is slightly inaccurate, but is probably becoming the average.) I know it evens out eventually, so I don't need to hear about that info.

rant/

Also just noticed the difficulty has gone back up again. Oh joy!

The luck has indeed been bad lately. Jan and Feb were great though, well above expected earnings, so I can't complain. Sucks when it evens itself out though.  

Thank you for your pool DrHaribo! I started mining on Bitminter and will likely end here.  I think BTCGuild is the only other Bitcon pool I've used. Wish I could keep going, but the centralization is a killer. Can't say I'd cry over a few KnC-sized data centers burning to the ground, lol.

[bwstacker1]

Continuing to watch those high percentage scores fall into non-payable zone is getting very, very old.

I may have to look around at some of the other pools that pay out more frequently, but with a smaller payout. I know they will eventually work themselves out evenly in the long run. But...
But the long run isn't today.

I'm pretty sure that is the reason the hash power is going somewhere else. Which in turn causes a vicious circle. Less hash=longer to hit a blocks.

I thought I should chime in on this, since lengthening the payable shifts would actually force me to leave. I'm not sure how much longer I can keep my ~10.7TH of Neptune miners running anyways, but that would certainly kill it for me. Those dead zones are a gambling opportunity to save on electric without losing anything. Just 24hrs of downtime saves me $15. I hope to keep going until the halving, but we'll see. Would be great to see that idea bring more power hungry miners back to the pool, even if they only mine for around 2/3 of the month.

I could be wrong, but I doubt that most people leave over the payable shift length and instead leave because of the periods of bad luck. Nearly a week is a long time to see no payouts and some people just don't have the patience.

Hitting 4 or 5 blocks a month is not doing it. (That number may be, and probably is slightly inaccurate, but is probably becoming the average.) I know it evens out eventually, so I don't need to hear about that info.

rant/

Also just noticed the difficulty has gone back up again. Oh joy!

The luck has indeed been bad lately. Jan and Feb were great though, well above expected earnings, so I can't complain. Sucks when it evens itself out though.  

Thank you for your pool DrHaribo! I started mining on Bitminter and will likely end here.  I think BTCGuild is the only other Bitcon pool I've used. Wish I could keep going, but the centralization is a killer. Can't say I'd cry over a few KnC-sized data centers burning to the ground, lol,



    Would be nice to own those data centers though. I remember the days that btc guild was the shit. Now look at antpool. They have almost forced people to mine with them if they want stead payouts. But there will be no variance on income though with such large pools.
But people will have payout of some coins everyday though.

[wmabern]

Continuing to watch those high percentage scores fall into non-payable zone is getting very, very old.

I may have to look around at some of the other pools that pay out more frequently, but with a smaller payout. I know they will eventually work themselves out evenly in the long run. But...
But the long run isn't today.

I'm pretty sure that is the reason the hash power is going somewhere else. Which in turn causes a vicious circle. Less hash=longer to hit a blocks.

I thought I should chime in on this, since lengthening the payable shifts would actually force me to leave. I'm not sure how much longer I can keep my ~10.7TH of Neptune miners running anyways, but that would certainly kill it for me. Those dead zones are a gambling opportunity to save on electric without losing anything. Just 24hrs of downtime saves me $15. I hope to keep going until the halving, but we'll see. Would be great to see that idea bring more power hungry miners back to the pool, even if they only mine for around 2/3 of the month.

I could be wrong, but I doubt that most people leave over the payable shift length and instead leave because of the periods of bad luck. Nearly a week is a long time to see no payouts and some people just don't have the patience.

Hitting 4 or 5 blocks a month is not doing it. (That number may be, and probably is slightly inaccurate, but is probably becoming the average.) I know it evens out eventually, so I don't need to hear about that info.

rant/

Also just noticed the difficulty has gone back up again. Oh joy!

The luck has indeed been bad lately. Jan and Feb were great though, well above expected earnings, so I can't complain. Sucks when it evens itself out though.  

Thank you for your pool DrHaribo! I started mining on Bitminter and will likely end here.  I think BTCGuild is the only other Bitcon pool I've used. Wish I could keep going, but the centralization is a killer. Can't say I'd cry over a few KnC-sized data centers burning to the ground, lol.

I wasn't necessarily advocating for longer shifts ( I don't think I was, or not in the way I'm thing about it). Maybe I was and didn't even know it .

I was looking at something like increase the number of payable shifts from say the current 10, to maybe 12 or 15. I don't know if that would be considered making the shifts longer or how that would effect payouts. I'm a newbie to all of this, so I don't really understand how changing one part of the system would have an effect on another part of the system or the users of the pool.

If someone has a few minutes, and could enlighten me in simple-mans English and in just few paragraphs or two, I would greatly appreciate it.

When I hear the term "lengthening the shifts", I think of increasing the time it takes for one complete shift (which currently has been hovering around 5 to 6 hours depending on the hash being put it to the shift) being increased to 8 or 10 hours or something like that to hit 100%.
That wasn't what I was talking about or intending.

The thoughts I'm having is to leave the 5-6 hours it takes to complete a shift untouched so you are still completing  the shift counter in the same amount of time as before (until the shift counter reads 100%.) (And at ~5-6 hours)
BUT,
Instead of completed shift work being rolled off the "Still eligible for pay" table after 10 shifts (~55-65 hours), we keep those shifts eligible for pay for, maybe, 2 or 5 more shifts.

Is that what you mean when you say "lengthening the shifts" (because the wording confuses me) and I'm just looking at it in some weird, odd way??
Or, does it make a difference if that is done and does it take longer for payouts or cause lower amounts of payouts?

Please, someone in the know please enlighten me as what the damages would be and why what I propose is such a bad idea. I'm just trying to understand.
Please explain in simple English, (please) as it has taken me 30 minutes or more to type out what I think I'm trying to say. LOL
As I'm not sure if what I typed out was what I have meant to type say anyway! 

Thanks for any and all insights!!!