Topic: [4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool - page 271. (Read 4382671 times)

Could someone give me the plain English version of what it is EXACTLY that we are "mining" for ?
I understand we are processing " transactions" but what is it that we find that " solves " a block and finishes it. ?

That is the part of this I dont understand.

People talk about the  " height " of the blockchain, what the hell is that supposed to mean.

I've watch Antonopolis or what ever his name is and he just throws out all these fancy terms that most people dont understand but they
all sit there and nod as he babbles on.

I would like to know what we are looking for ?

Bob

Keep on dancin 

Please

+1 to RogMiner!

I may have been away for a while but there has always been good days and bad. Some worse than others like when Slushy's pool was under dos attacks. The one thing though has always been that Slushy has striven to do his best for all of his customers on the pool. I know he gets his cut which he truly deserves but I am still thankful to him for all the hard work he puts in. 

I am note sure I follow your logic here, Slush is not an investment fund it is a mining outfit, therefore the only sh*t that happens comes within the rules of probability. Slush does hold our bitcoins so there is a potential that he could shut up shop and run away with all the unpaid bitcoins, however setting your payment level at the minimum allowed and switching pools if a payment is late can go some way towards mitigating such a risk.

I would guess that as an investment fund you probably invest in shares, and by the sounds of things in shares with a high risk/return potential so you shouldn't be surprised when sh*t happens, in fact it should be a part of your investment strategy. If you are investing in shares then you should realise that a funds value is just virtual until it is crystallised by a sale of the shares. This means that if you invest say £10M in Google and it doubles to £20M then you have on paper a £10M profit but that £10M profit only really exists if you sell the shares. If before you sell those shares they drop back to £10M then you could say that you have made a £10M loss, but in reality you never realised the 10M profit so you have just broken even, in such an example the £10M never really existed so it isn't true that "somebody else has it", it really did never exist.

It is not the case that I "go blindly through life like a clown on a minefield" (although I do struggle to understand your analogy), I take the time to understand the risks and rather that trusting Slush not to do me out of bitcoins, I use statistics to ensure that the returns from Slush are within a margin of acceptability.

It's easy to through about inaccurate analogies, or to imply some wrongdoing this is why there are so many conspiracy theories in the world; considering the existence of a conspiracy or of pure evil without first ruling out the alternatives is a sign of a weak mind, or poor cognitive ability.

As luck seems to be back with us now we could deduce that the rules of probability are just demonstrating their usual variance, although some may say that this is evidence of some higher force reacting top the negative comments posted here, personally I like the rain dance theory and look forward to seeing the video.

List of all BTC difficulty dates

https://bitcoinwisdom.com/bitcoin/difficulty

What was the date of that?

Would be interesting to see how the blocks per day changed with each difficulty increase!

I just want to say thanks to Slushy for still running this great pool. I've be out of mining for a bout a year now but I'm back up and running again. Last year I blew my graphics card and then went with the BFL for a miner which failed. Now thoughh I have a couple of Antminer S3's. Cheers Slushy

Is there somewhere to track these figures or did you manually tally them.?

Bob

Well it worked. Everyone do my block dance. I did and it started raining blocks after the drought 
Gonna have to post "The Slush Block Dance" on Youtube so you can all follow along.
As my Grandmother said, "It all comes out in the wash".
An average is just that, what it will average over a longer period, not what to expect every day.
 

For the last 54 days

Average Block Time
4:11:11

Blocks/day
5.74

For someone who works for a private funds you have little knowledge about how bitcoin mining works. A pool being unlucky doesn't mean that someone else is gaining that pool's money. Every pool has the same change of getting a block. What matters is only the speed of the pool in relate to how many block should that pool find on average. Imagine the pools as separate people tossing a coin. The faster pools just toss the coin faster, but everyone has a 50%-50% chance of hitting one side of the coin. Some may hit heads 5-10 times in a row, but they are not influencing each other. The luck is individual.

Over the last 1-2 months, what has been the average block finding time on Slush?

Slush should be releasing the new website shortly. I can't wait to see/use it!!!

The 'best' you can do in mining is join a pool so big it always makes you a little money.
There are freight trains and there are roller coasters. I find it interesting that Slush has
had a great day, even with lower pool GH/s and an increased LOD. If I can find this man
I will buy him a beer.

You are free to fool yourself if you only look at 'good' data.   That's why the really successful trade outfits (consider ours to be one of them) will never rely on a person interpreting a chart or whatever, because most see only what they want to see. I understand most here are hobbyists doing this on the side but there is much to be gained to treat any endeavor with utmost attention to detail.

slush found 9 blocks in the last 24 hours. seems pretty lucky to me.

You are indeed wise to doubt stuff. I think the majority of people (on here anyway) are hobbyist miners hoping to make some money, experimenting, learning. If you apply the harsh reality of the cut-throat industries (we all work in), then most of us probably wouldn't be here.

I suppose there is a balance to be found between worrying about the potential "shit" that might happen, and spending a couple of grand on mining kit to "see what happens". Lighten up

Your explanations are good and make sense, however they do not take into account that sh*t can and does happen. I work for a private fund that has lost millions over the last 10 years to outfits like Madoff, Corzine, EDF Mann etc. Yet we are still around, which kinda lets you deduce that there must be substantial funds at work here ;-)

Those were all bona fide, on-the-level, trustworthy outfits...until they collapsed with a ton of money, including ours. And take note of this curious fact: Money never disappears, it's just that somebody else has it. So, without implying that Slush or anybody is skimming, is crooked, or whatever... You cannot blindly go through life like a clown on a minefield, hoping that nothing will ever go wrong and there is no evil.