Something I don't understand.
We just had a block that took 29.5 hours.
Then we had a block that took 33 minutes.
I only got paid 13 cents more for the block that took 29 hours ?
The little voice in my head is confused.
Could someone give me the short and dirty explanation ?
bob
You get paid for each block found; time to find a block is irrelevant; found quickly or not is based on luck.
What you get paid for each block found is based (mostly) on the shares your miners contributed (how lucky they were)
On slush, reward also based on when you were mining the block if you weren't along for the whole ride (if you lose power and miners go down at beginning of round vs. going down at end of round you're luckier than vice-versa and your shares gained don't shrivel away)
So it depends on luck and luck and luck.
Well if that's the case then GHASH must have a horseshoe up their rear. They keep plugging along at a steady pace and we are floundering.
What I meant by the first point is relative to pool hash rate but still true. Where round rates vary less on GHash (from seconds to hours) it's still based on luck. They hit the jackpot more because they bought more "lottery tickets" or have more pool hashing power (but how quickly still based on luck). Then of course each share is worth a lot less. But, at least you don't get penalized for dropping out during a round by your earned shares shriveling up.
I still dont quite understand what luck has to do with it , but whatever.
Yeah I have noticed the Slush hash rate varying quite a bit lately. People jumping to other sites when the blocks aren't coming, then coming back for whatever reason.
CEX 's rate seems to do nothing but climb, except for that incident a month or so ago when they announced they would keep their total rate under 39 % or something.
I know in the back of my head that it will PROBABLY even out in the long run, but the finish line is in sight as far as I'm concerned.
I dont think most miners will have the "time" they need.
With the soon to be skyrocketing difficulty people are going to find themselves at a negative ROI by Jan-Feb 2015.
So unless you have the latest power saving equipment or BTC price jumps dramatically ( which I don't think is going to happen ) I'm afraid a lot of people will find themselves stuck.
My self included, that's why I need the "steady" payout instead of hoping for the moon.
Bob