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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3894149 times)
Factory
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May 09, 2013, 05:45:46 PM
 #4581

if there is a pool discussion - just go for slush's pool, it's really good
+1

Slush's pool is definitely one of the best.
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May 09, 2013, 06:42:06 PM
 #4582

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me a pool that charges more? including any alt coin pool? no you can't, so BTCGuild is charging the highest fee in all crypto land. Therefore, outrageous.

3% PPLNS is not outrageous, it's standard. Not all pools pay tx fees and orphaned blocks. Orphaned blocks are worth an additional 1% to miners and tx fees another ~ 2%.

There's no point bringing up the PPS fee. Apart from the fact it was introduced to help reduce BTCGuild's proportion of the network, ASICMiner is mining on PPLNS so it has no  bearing on our discussion.

In my opinion, it would be wise to spread the load around to several pools. You can even mine with zero fees and they pay transaction fees at pool.itzod.ru.  Eligius has no fees either, but they don't pay transaction fees.  I don't see the point of mining at high fee pools.
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May 09, 2013, 07:08:18 PM
 #4583

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I guees the 10% will melt away shortly. Think about the hashpower that is directed to these altcoins now. The coins have to be sold too. So it will put pressure on the price. And so on... Wont work out for long.

You know how funny your argument is right? Think about the hashpower that is directed to Bitcoin now, the coins have to be sold too, so it will put pressure on the price?

Bitcoin isnt comparable to the altcoins. You should check the amount of worth traded each day in bitcoins and the amount of worth transferred in altcoins. Its way way less. Its the same with the orderbooks. So when you sell or buy bitcoins worht $10000 the price wont change. Do the same with a small coin the price will drop or rise a lot. Thats the difference. And thats why mining with big hashpower for altcoins wont last very long for a reasonable price.

I don't understand your logic, the amount of NMC produced per day is same, by mining at bitminter, some of that amount goes to AM instead of others. The amount that can be sold per day remains the same, why would you think AM mining some NMC will crash the NMC market? if you haven't noticed, NMC has risen over 10 fold over the last few month, so did LTC and PPC and many other alt coins. The alt coin market is only getting stronger, by a factor of 10 or more. AM selling some NMC is a drop in the bucket.

Alt coin has some serious advantages over Bitcoin. For example I find myself increasingly doing transactions in LTC, due to the lightning fast confirmation. Whenever I do BTC transactions, I find myself kicking myself for not doing it in LTC, because the confirmation time is so slow. Also I'm growing increasingly fond of the 1% interest on my PPC balance.

You can't understand his "logic" because he has none. 

The more hashpower is directed to a blockchain, the more secure it becomes.

The more secure a blockchain is, the more valuable it becomes.

BG deserves every Satoshi of whatever it wants to charge for access to the most reliable and high-performance pool around.

Ideally AM would load-balance between BM and BG, with priority going to BM for merged mining, tx fees, and network diversity. 


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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JimiQ84
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May 09, 2013, 07:30:46 PM
 #4584

Why are all of the latest namecoin blocks stale?

New blocks are showing as stale, I'll get this changed to "processing" or something like that soon.

Why are they like that for more than some seconds? Because while the mining server has a lighter load than usual, the payment processing system is lagging badly. I'll improve this soon.

Apologies for the confusion it causes to show so many "stale" blocks, especially with all the fast blocks we had today it looked crazy.

So that's why it shows stale even when it's not stale.
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May 09, 2013, 07:40:25 PM
 #4585

Why are all of the latest namecoin blocks stale?

New blocks are showing as stale, I'll get this changed to "processing" or something like that soon.

Why are they like that for more than some seconds? Because while the mining server has a lighter load than usual, the payment processing system is lagging badly. I'll improve this soon.

Apologies for the confusion it causes to show so many "stale" blocks, especially with all the fast blocks we had today it looked crazy.

So that's why it shows stale even when it's not stale.

Kindly request we stop talking about mining pools and altcoin mining. Friedcat has been around in btc/cryptocurrency land long enough, I trust his judgement when it comes to finding the right operational choices. e.g. - Solo vs pool, which pool, etc. And this horse has been beaten into the ground.

One note about merged mining. If ASICMINER did work on altcoins, they would instantly own over 50% of hashing power in said coin. This is unhealthy for said coin, and based on Friedcat's past comments, he is looking out for long term health of cryptocurrencies, and wouldn't do such a thing. (And besides, he's instantly make all other miners of the merged altcoin unprofitable.)
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May 09, 2013, 07:43:31 PM
 #4586

Why are all of the latest namecoin blocks stale?

New blocks are showing as stale, I'll get this changed to "processing" or something like that soon.

Why are they like that for more than some seconds? Because while the mining server has a lighter load than usual, the payment processing system is lagging badly. I'll improve this soon.

Apologies for the confusion it causes to show so many "stale" blocks, especially with all the fast blocks we had today it looked crazy.

So that's why it shows stale even when it's not stale.


 I have been mining with bit minter since aug 2012 pretty solid pool. I like asic miner being in two pools like I said 2 pools and solo maybe even 3 pools and solo would be nice in the long run.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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May 09, 2013, 07:47:37 PM
 #4587

One note about merged mining. If ASICMINER did work on altcoins, they would instantly own over 50% of hashing power in said coin. This is unhealthy for said coin, and based on Friedcat's past comments, he is looking out for long term health of cryptocurrencies, and wouldn't do such a thing. (And besides, he's instantly make all other miners of the merged altcoin unprofitable.)

What makes you think friedcat has no way to divert only a part of ASICMINER mining hashrate to merged mined coins, remaining below 50%, given that ASICMINER's hashrate is already diverted to 2 different pools?

P2pool tuning guide
Trade BTC for €/$ at bitcoin.de (referral), it's cheaper and faster (acts as escrow and lets the buyers do bank transfers).
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Maciek
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May 09, 2013, 08:00:26 PM
 #4588

Is it possible to order those ASIC USB miners at 2BTC each?
Where?

Cheers Smiley

amlt.coinfirm.io - The token of compliance by Coinfirm
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May 09, 2013, 08:07:22 PM
 #4589

Hi guys, sorry if this is the wrong thread.


About to purchase some PT shares through BTC-TC.

Please could someone point me to some more information?

Security (the most essential part of course... recently was burned in the Bitcoin-24 shutdown... although that was less security and more management issues), experience so far... how does the payout work? That sort of thing. I'm pretty sure I've got it but of course I need to know the finer details before making the purchase.

Best wishes

TRADE FOREX, STOCKS AND COMMODITIES without the paperwork with Bitcoin: https://1broker.com/m/r.php?i=3589

1BROKER has been around since 2012 and is going strong
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May 09, 2013, 08:23:01 PM
 #4590

Is it possible to order those ASIC USB miners at 2BTC each?
Where?

Cheers Smiley

> USB devices fully tested, 10,000 units ready for order at 1.99 BTC each.

where can you buy these?

[Group Buy] ASICMiner Block Erupter USB group buy (US/Canada)
https://bitcointalk.org/index.php?topic=195052.0;topicseen

[Group Buy - Eastern USA] Block Erupter USB [Lowest Fee]
https://bitcointalk.org/index.php?topic=195843.0

[Group Buy] ASICMiner Block Erupter USB in USA. 2.03496 per USB device @ 5 units
https://bitcointalk.org/index.php?topic=195647.0
    
Australia - USB Block Erupter Miner >300MH/s [Group Buy]
https://bitcointalk.org/index.php?topic=197446.0

ASICMiner Block Erupter USB Group Buy - Australia Only
https://bitcointalk.org/index.php?topic=196336.0

[Group Buy - UK Re-shipper] Block Erupter USB
https://bitcointalk.org/index.php?topic=195540.0

european group buy (closed?)
https://bitcointalk.org/index.php?topic=195037.0

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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May 09, 2013, 08:38:38 PM
 #4591

Hi guys, sorry if this is the wrong thread.


About to purchase some PT shares through BTC-TC.

Please could someone point me to some more information?

Security (the most essential part of course... recently was burned in the Bitcoin-24 shutdown... although that was less security and more management issues), experience so far... how does the payout work? That sort of thing. I'm pretty sure I've got it but of course I need to know the finer details before making the purchase.

Best wishes

I think this thread would be the best place to ask questions about this particular PT: https://bitcointalk.org/index.php?topic=148350.0
michaelGedi
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May 09, 2013, 08:41:43 PM
 #4592

Hi guys, sorry if this is the wrong thread.


About to purchase some PT shares through BTC-TC.

Please could someone point me to some more information?

Security (the most essential part of course... recently was burned in the Bitcoin-24 shutdown... although that was less security and more management issues), experience so far... how does the payout work? That sort of thing. I'm pretty sure I've got it but of course I need to know the finer details before making the purchase.

Best wishes

I think this thread would be the best place to ask questions about this particular PT: https://bitcointalk.org/index.php?topic=148350.0

thanks

TRADE FOREX, STOCKS AND COMMODITIES without the paperwork with Bitcoin: https://1broker.com/m/r.php?i=3589

1BROKER has been around since 2012 and is going strong
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May 09, 2013, 09:03:01 PM
 #4593


no, still open  Smiley

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May 09, 2013, 09:07:21 PM
 #4594

Just a quick note since there was talk in this thread about BitMinter's luck being so bad that something must be wrong.

organofcorti has performed a thorough audit: http://organofcorti.blogspot.com/2013/05/131-bitminter-and-luck.html

The results are in: BitMinter pays better than most pools even when we have bad luck (PPS miners are sad). And when we have good luck it's just awesome (PPS miners cry).

Back to your regular programming.

▶▶▶ Bitminter.com - Your trusted mining pool since 2011.
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May 09, 2013, 09:17:22 PM
 #4595

I tried asking this in one of the auction threads but got no response, is there any way to verify the people auctioning off direct shares? I would like to make a significant purchase but simply can't due to lack of information. Can someone at ASICMiner (with the seller's permission of course) confirm shares being auctioned are legitimate?
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May 09, 2013, 09:39:19 PM
 #4596

I tried asking this in one of the auction threads but got no response, is there any way to verify the people auctioning off direct shares? I would like to make a significant purchase but simply can't due to lack of information. Can someone at ASICMiner (with the seller's permission of course) confirm shares being auctioned are legitimate?

I think the best solution would be to simply use Escrow in this case.

Making Apps and Websites for people. I charge reasonable rates ($30-40/hour in BTC).
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May 09, 2013, 09:50:57 PM
 #4597

I tried asking this in one of the auction threads but got no response, is there any way to verify the people auctioning off direct shares? I would like to make a significant purchase but simply can't due to lack of information. Can someone at ASICMiner (with the seller's permission of course) confirm shares being auctioned are legitimate?

If you go through an escrow, you aren't really at risk anyway(And for any "significant" purchase, you should use an escrow!)

You can also confirm by asking for their address of ownership, and then looking through the transaction logs for the satoshi's.

Alternatively Friedcat can confirm if PM'd about the thread, but he is very busy.
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May 09, 2013, 09:56:39 PM
 #4598

I tried asking this in one of the auction threads but got no response, is there any way to verify the people auctioning off direct shares? I would like to make a significant purchase but simply can't due to lack of information. Can someone at ASICMiner (with the seller's permission of course) confirm shares being auctioned are legitimate?
See how I handled my auction. I detected a weakness with my method, so read my comments about it near the auction's end if you want to build on it.

P2pool tuning guide
Trade BTC for €/$ at bitcoin.de (referral), it's cheaper and faster (acts as escrow and lets the buyers do bank transfers).
Tip: 17bdPfKXXvr7zETKRkPG14dEjfgBt5k2dd
John (John K.)
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Will read PM's. Have more time lately


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May 10, 2013, 02:42:17 AM
 #4599

*knock knock* Friedcat, please respond to the backlog of share transfer requests.  Cry

*runs before angry shareholders burn me on the stake*

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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... it only gets better...


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May 10, 2013, 02:44:36 AM
 #4600

Friedcat, please respond to the backlog of share transfer requests.  Cry

Please...  Cheesy

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