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Author Topic: so bitcoins are luck and shares are solid?  (Read 1841 times)
ddd1
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May 13, 2012, 11:09:54 PM
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I'm still wery green when it comes to understanding mining.

But lets say I have 100mhash, according my calculations it should be about 85shares/hour.
So regardless how lucky, I will always get 85shares ignoring stales and network problems?

So this means one day is 24*85shares= 2040shares.

On a PPS pool before fees I get about 0.05bitcoins/day.

So ignoring fees after 20days I would have mined 1BTC and the share is solid at 85shares/hour ignoring stales and network problems?

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DILLIGAF
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May 13, 2012, 11:44:51 PM
 #2

I'm still wery green when it comes to understanding mining.

But lets say I have 100mhash, according my calculations it should be about 85shares/hour.
So regardless how lucky, I will always get 85shares ignoring stales and network problems?

So this means one day is 24*85shares= 2040shares.

On a PPS pool before fees I get about 0.05bitcoins/day.

So ignoring fees after 20days I would have mined 1BTC and the share is solid at 85shares/hour ignoring stales and network problems?



Yes but you ignore the difficulty there as well in that 20 days it is most likely to have increased/decreased either lowering or raising your return respectively.
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May 14, 2012, 04:34:43 AM
 #3

I'm still wery green when it comes to understanding mining.

But lets say I have 100mhash, according my calculations it should be about 85shares/hour.
So regardless how lucky, I will always get 85shares ignoring stales and network problems?

So this means one day is 24*85shares= 2040shares.

On a PPS pool before fees I get about 0.05bitcoins/day.

So ignoring fees after 20days I would have mined 1BTC and the share is solid at 85shares/hour ignoring stales and network problems?


How many hashes does it take to find a share?
On average, one share will be found for every 2^32, or 4.295 billion, hashes calculated. So at 1 MHash/s, you will find a share on average every 72 minutes.
from
https://en.bitcoin.it/wiki/Mining_pool_reward_FAQ
when it says "on average" around Bitcoin stuff it means luck is involved Smiley
there will not be a significant variance from your 100mhash - but there is some Smiley

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af_newbie
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May 14, 2012, 09:42:18 PM
 #4

I'm still wery green when it comes to understanding mining.

But lets say I have 100mhash, according my calculations it should be about 85shares/hour.
So regardless how lucky, I will always get 85shares ignoring stales and network problems?

So this means one day is 24*85shares= 2040shares.

On a PPS pool before fees I get about 0.05bitcoins/day.

So ignoring fees after 20days I would have mined 1BTC and the share is solid at 85shares/hour ignoring stales and network problems?



It all depends on various factors: downtime, power/network outages, other technical issues etc.

In my experience, 100 Mh/s produces about 1.5 shares/minute, so your 85 shares/hr might be in the range.

Try to find a PPS pool that will work well with your miner software. 
For example, I use cgminer and abcpool.co works very well with it.

On PPS, you should earn ~2000 shares/day with your 100 Mh/s.  How many BTCs? It depends on difficulty.

If you use p2pool, you might earn more or less. Depending on your miner's luck.

Aseras
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May 14, 2012, 11:18:17 PM
 #5

P2pool is very bad for small miners <500 mhash. There's a good chance you'll never get a share into the blockchain.
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May 14, 2012, 11:21:03 PM
 #6

P2pool is very bad for small miners <500 mhash. There's a good chance you'll never get a share into the blockchain.

Really?  The sharechain is dynamically sized to be roughly 1 day long.  Someone has a "good chance" of getting 0 shares in 24 hours?
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Gerald Davis


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May 14, 2012, 11:21:49 PM
 #7

To the OP luck is involved in shares.

On AVERAGE you will find 1 (diff 1) share per 2^32 hashes there is variance (luck) in the short run. 
Aseras
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May 14, 2012, 11:34:26 PM
 #8

That's why p2pmining or whatever exists. The problem is the 10 second LP. Slower miners wont finish work before its reset. Some of my slower miners ( a dual 5750 getting 300 mhash ) will only get 1 share on a good day at the default difficulty.
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Gerald Davis


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May 14, 2012, 11:49:05 PM
 #9

That's why p2pmining or whatever exists. The problem is the 10 second LP. Slower miners wont finish work before its reset. Some of my slower miners ( a dual 5750 getting 300 mhash ) will only get 1 share on a good day at the default difficulty.

Except your math is nonsense.

300 MH/s is 2.6*10^13 hashes per 24 hours.
That is ~ 6000 diff 1 shares or ~ 7 diff 800 shares.

The odds of you getting 1 or less in 24 hours is 0.7%. 

There is no such thing as progress towards a share.  Each hash is independent it either is a share or it is worthless.  You don't work towards a share so LP doesn't affect smaller miners any more than larger ones.

While it is true the variance for small miners on p2pool can be high your reasons are not.
ddd1
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May 16, 2012, 05:59:37 AM
 #10

Well I have one PC with one card giving me 420mhash when AFK and when using it giving me 320mhash.

The other one has 2 cards and gives a total of 1240mhash.

Seems like LP is default for CGminer, is this good for my 2 PC to use longpoll?
Both PC's are mining to same worker, so I only have one worker to pool.
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May 16, 2012, 09:40:34 AM
 #11

Well I have one PC with one card giving me 420mhash when AFK and when using it giving me 320mhash.

The other one has 2 cards and gives a total of 1240mhash.

Seems like LP is default for CGminer, is this good for my 2 PC to use longpoll?
Both PC's are mining to same worker, so I only have one worker to pool.
longpoll is good to use, that's why it is cgminers default Smiley
most pools don't mind if you use single or multiple workers - check your pools policy on this
personally I prefer 1 worker per PC as its easier to manage

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May 18, 2012, 09:33:51 PM
 #12

That's why p2pmining or whatever exists. The problem is the 10 second LP. Slower miners wont finish work before its reset. Some of my slower miners ( a dual 5750 getting 300 mhash ) will only get 1 share on a good day at the default difficulty.

Except your math is nonsense.

300 MH/s is 2.6*10^13 hashes per 24 hours.
That is ~ 6000 diff 1 shares or ~ 7 diff 800 shares.

The odds of you getting 1 or less in 24 hours is 0.7%. 

There is no such thing as progress towards a share.  Each hash is independent it either is a share or it is worthless.  You don't work towards a share so LP doesn't affect smaller miners any more than larger ones.

While it is true the variance for small miners on p2pool can be high your reasons are not.

+1
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May 25, 2012, 11:04:33 PM
 #13

p2pmining.com worked wonders for my 90mhash nivida card, so if you want ot use p2pool with 100mhash, thats the way to do it.
jl2012
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May 26, 2012, 02:31:04 AM
 #14

Wrong. Although it is shares paying you, finding a share is all about luck. Let's assume there is no downtime or other technical problems. If you are lucky, you will get >2040 shares per day, and vice versa. 2040/day is just an average.

Mining is just like tossing a coin: head is a share, and tail is not a share. You will expect 1000 heads out of 2000 tosses, but at the end you most likely will have something not 1000 and close to 1000.

I'm still wery green when it comes to understanding mining.

But lets say I have 100mhash, according my calculations it should be about 85shares/hour.
So regardless how lucky, I will always get 85shares ignoring stales and network problems?

So this means one day is 24*85shares= 2040shares.

On a PPS pool before fees I get about 0.05bitcoins/day.

So ignoring fees after 20days I would have mined 1BTC and the share is solid at 85shares/hour ignoring stales and network problems?



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