Topic: [4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool - page 259. (Read 4382671 times)

Just wondering why would you want to do that ?

Bob

lets say I have set miner to restart every 1 hour, does that mean the mined shares will be lost?

"One of the bad things is when you lose internet service, like a lot of TW customers did this morning, your shares can shrivel away. I wish they would change that. I don't think pool hopping that big a deal"

I agree and it's not just an unexpected loss of internet.

Taking one or more of your miners down for  " maintenance" or " re-arranging "  can and will cost you.

I dont know the ins and outs of pool hopping but I think regular users shouldn't be penalized.

Bob

I had, and still running, 8 overclocked S1s for a total of 1.6 Th/s. One of the nice things about slush is that it lets you know and keeps track of blocks found by your miners in your user stats. I've never seen that at other pools.

One of the bad things is when you lose internet service, like a lot of TW customers did this morning, your shares can shrivel away. I wish they would change that. I don't think pool hopping that big a deal.

If you don't mind me asking, how much hashpower were you pointing at Slush's when you found that block?

Also, congrats on finding the block!

Why not?
Bitcoin system is set to produce a block every ~10min with or without transactions in case there are none as it was in it's first days. The first transaction ever is in block 170 should we loose 169 blocks because there are no transactions?

Why does the Bitcoin system allow for blocks with 0 transactions? 

Correction. It had 1 transaction - the 25 BTC award.

Congrads and thanks.

I found the following block while mining with slush.

https://blockchain.info/block/000000000000000014bf07c25415110d1d565cc60db69f5acb3743843ede2937?site=slush

It had 0 transactions. Too bad I wasn't solo mining

So a block includes these 4 things:

1. A set of transactions
2. A timestamp
3. The 256-bit hash of the preceeding block
4. A nonce sufficient to make the hash of the block not exceed the current target

I now assume the transaction amount could be ZERO if that's the number needed in the control theorys feedback loop to ensure the proper amount of time a block needs to be completed to get 2016 blocks every 2 weeks.

Update: If someone could confirm or disprove this, it would be appreciated greatly. I can't find that transaction figures would deal with time in the block equations, so my theory on zero transactions may be false.

60minhr∗24hrday∗7dayweek 10minblock=2016 in 2weeks

Tcurrent=Tprior∗tprior/2weeks

D=work/2(32)=2(256)/(Tcurrent+1)∗2(32)

hashes/second≈D∗2(32)/600

Update:
To validate a block, a node checks several things including that the block’s hash does not exceed the current target, that the timestamp inside the block is not too far in the future or the past, and that all transactions inside the block are valid. So now I'm assuming zero transactions = no invalid transactions. This would make the node accept the block and cue it to be confirmed while transmitting it to the other nodes.

Last Update:
I had totally forgotten the fact that transactions happen everyday without fees, so I now realize that a block with no transaction FEES doesn't mean there wasn't any transactions and most importantly a block can be solved with zero transactions. Sorry for the madness, just trying to understand block #317553.Time to log off, relax and enjoy the pools good luck for awhile.

Myself as well. I was able to buy a single S1 + PSU for $110, as then two more for 0.065 each.

@Billbags, it was probably found right after another block, so there were no new transactions to include. It happens once and awhile.

I got a couple Antminer S1's for about $70 a pop after lots of bargain hunting.  Amazing what you find when people misspell stuff.  I used to find the usb block erupters for dirt cheap cause they would spell it block eruptOr.  Search and you shall find.  Also amazing what you can find on craigslist too got an Antminer S2 for $650 once.

JT

haha an S1 for $50...
 imagine someone being that dumb...
cuz you know you cant buy an upgrade kit for them to make them S3's... no really you cant just yet

maybe a Block eruptor Cube, those are only worth $50. s1's lil under $150 at x5 the hashing rate
wow funniest thing on ebay is people selling corsair 500+'s with a cube for under $50... the power supply is that value! nice deals if you can snag it!

You can hop on Amazon and buy one of these for $27 USD  http://www.amazon.com/BITMAIN-ANTMINER-U2-Bitcoin-Overclockable/dp/B00ITD5NV6/ref=pd_sim_sbs_pc_1?ie=UTF8&refRID=1R9GF4V3NFV2KX7Z4RPC   it will be around 10x as fast as your video card is and only use 2 watts. save yourself some money on your energy costs and save your graphics card.  It will be a good intro to bitcoin mining. but its not going to make you rich.

I started out with 3 of those and a Raspberry Pi and a USB powered hub and a USB Fan from Arctic. it was fun and enough to get me addicted hehe.

do not mine with graphic card, your btc mined is even less then getting those free bitcoin at https://www.landofbitcoin.com/?r=phqCKSzE8j0J1vMW
get asic miner, usd 50 might get you a s1 if u bargain hard

Hello and welcome to mining.

Mining Bitcoin with a graphics card is not cost effective, it was the case some time ago that you could get good returns on a graphics card but that time has now passed. As you have found out you can earn about £0.01 a day with your graphics card but it will use about £1.00 a day in electricity meaning you will lose about £30 a month.

That said mining is great fun and if you want to really join in you need to be mining with an ASIC, with your $50 budget there isn't much you can do, but if the cost of electricity doesn't phase you then your next step could be to buy a cheap 2GH/s USB ASIC miner, however I would recommend checking out eBay for an Antminer S1 which are dropping in price all the time, you won't make any money unless the price of Bitcoin goes through the roof but if you underclock it there are still some months useful mining available.

As things stand the only way to make money is to spend money, and even then you may just lose everything so be careful, read the posts in this forum and in the hardware forum before spending any money and then you will be able to make an informed decision. Please heed this warning and don't rush out and buy anything, hardware prices will always come down so you have plenty of time to decide your next move.

Finally, be careful with your graphics card, overclocking it will make almost no difference to your hashing rate but it will eventually break your card, mining with your graphics card 24/7 will eventually break it. You don't want to end up with a huge electricity bill and no gaming machine, that really would be the worst of all worlds.

If you are going to mine at the low end then please just do it for fun, as doing it for money is a huge risk.

Hello! I'm new to Bitcoin mining in general, and I followed a tutorial on how to get started. They suggested this pool. I just wanna say that I don't know like anything about bitcoin, besides the basics, and I'd like to know if I should go any further with what I am doing.

I have an ATI (or AMD) Radeon HD 7770 (GHz Edition) that I use for gaming and, well, this. I get 200 Mhash/s, and I wanna know if this is good for mining. I've mined about 0.00000494 BTC so far, and that's within a day. I also want to know if I should upgrade to a better Graphics Card or an ASIC thingy later on.

I know this thing is good for beginner users, and I just hope it survives everything I throw at it.

Anyway, thank you

I like Bitcoin so far btw. I just wish there was a method I could take. (I only have like $50 to spend right now)

Those calcuators are not perfict, but they will come out with more efficient miners. The 37ghs miners I was using in November used 340watts. So I sold and replaced with new ones(180ghs/370w and 24ghs/60w), which I sold and replaced with(1000ghs/1120w and 32ghs/40w), which I sold and replaced with(900ghs/860w and 443ghs/370w). This is the system I've had to use to keep making profits along with certain pool strategies. If it gets to a point they can't improve the chips, they will have to supply more chips that are under volt/under clocked extremely and/or find another style of mining like they have before(ie..solo to pool to original network to getwork to asic and stratum). But yes, the miners you have now will most likely be obsolete in early to mid 2015. Also remember only 21 million bitcoins will ever be mined, so the price will go up dramatically as long as people keep utilizing this p2p system.

Am I calculating this right? 

That the early part are 2015 it will no longer be cost effective to run miners based on the increasing difficulty. In other words varying costs of electricity and hardware will mean by March , April of 2015 most mining operations will be running in the red even with payed off miners and low cost electricity based on the current floating value index of bitcoins?

From what I have read there isn't any new miners / hardware that is capable of being cost effective when calculated against the upcoming difficulty.

I wonder what will happen to the HUGE cloud mining companies?

The only way I see mining continuing is a revolution in hardware and low cost electricity or massive price shift in bitcoins.

So whats next?