Smaller pools find less blocks on average, but miners there will get bigger shares of the block. So say you have a lot of hash at a 40% of network pool, you might get 0.1 bitcoins every hour, but at a 10% pool you might get 0.4 bitcoins every 4 hours, or a 1% pool 4 bitcoins every 40 hours for the same hashpower. Over a reasonable timeframe, to average out luck variances, you should end up with the same amount of coins over time.
This is technically true over the long run, however the short run the smaller pools will have a larger variance and could end up earning more or less over short periods of time. If the pool earns less over the 'first short period' that you start mining on the pool then you could potentially end up loosing a large portion of your total potential earnings from your miner 
Topic: Are Mining Pools the downfall of the Bitcoin - page 2. (Read 2209 times)
I noticed in some pools that it took a massive 6 hours to find a block.
i don't have find any block in 8 month.
deal with it (and help the network instead of try to compete the farms ... with pools).
Ok so finding blocks is the problem, not solving them.
All the info on Internet like Coinwarz show profit if you find blocks immediately and doesn't allow for looking hours for blocks.
So 1 big pool please, the more pools we get the longer we search for blocks, the less we earn.
All the info on Internet like Coinwarz show profit if you find blocks immediately and doesn't allow for looking hours for blocks.
So 1 big pool please, the more pools we get the longer we search for blocks, the less we earn.
None of what you wrote is correct.
"Finding" blocks is the same as "solving" blocks. Both words are simplifications of the description of actual process.
The number of pools has nothing to do with how quickly blocks are added or how much anyone earns. Blocks are added every 10 minutes on average, regardless of how many miners or pools are operating.
Ok so finding blocks is the problem, not solving them.
All the info on Internet like Coinwarz show profit if you find blocks immediately and doesn't allow for looking hours for blocks.
So 1 big pool please, the more pools we get the longer we search for blocks, the less we earn.
All the info on Internet like Coinwarz show profit if you find blocks immediately and doesn't allow for looking hours for blocks.
So 1 big pool please, the more pools we get the longer we search for blocks, the less we earn.
solo mine, show them all
Show what? How much money you're waisting when solo mining without finding blocks?
What's the chance for some one to find a block as solo miner?
Whatever your hashrate, you will only earn money when your pool finds a block. So when all the pools that you are not with are finding blocks, your own pool is eating up electricity for nothing. I noticed in some pools that it took a massive 6 hours to find a block.
Have I got this wildly wrong or should all pools integrate into one big one?
Have I got this wildly wrong or should all pools integrate into one big one?
Integrating all the pools into one won't change anything because eliminating a pool does not reduce power usage. it is the miner, not the pool, that is using all the electricity.
Anyway one pool doing all the mining is bad for Bitcoin.
Id prefer it if they did begin using a p2p system for the mining that way people wouldn't have to eat dirt when luck isn't on their side... but it really cuts down on the profits... a guaranteed profit for everyone participating or... one big payout for the larger pools.
It's tough, you gotta be able to convince people to join p2p pools... it's better, more censorship resilience and you don't have to worry about centralized mining.
but... you try to convince people.
It's tough, you gotta be able to convince people to join p2p pools... it's better, more censorship resilience and you don't have to worry about centralized mining.
but... you try to convince people.
Smaller pools find less blocks on average, but miners there will get bigger shares of the block. So say you have a lot of hash at a 40% of network pool, you might get 0.1 bitcoins every hour, but at a 10% pool you might get 0.4 bitcoins every 4 hours, or a 1% pool 4 bitcoins every 40 hours for the same hashpower. Over a reasonable timeframe, to average out luck variances, you should end up with the same amount of coins over time.
solo mine, show them all
mine DGM, example is mmpool.org.
research the Double Geometric Method, it's the best way to mine.
research the Double Geometric Method, it's the best way to mine.
Every pools got the same chance to find a block based on your pool's hash rate. If your pool keeps mining, you will find block. Another thing is that in order to prevent 51% attack, the hash power of any single pool cannot reach to 51% , otherwise there will be threat imposing to the blockchain.
I am new to mining. I have several S3's and an S4 and have started mining today.
What I have noticed as a relative outsider is the following:
Whatever your hashrate, you will only earn money when your pool finds a block. So when all the pools that you are not with are finding blocks, your own pool is eating up electricity for nothing. I noticed in some pools that it took a massive 6 hours to find a block.
Have I got this wildly wrong or should all pools integrate into one big one?
What I have noticed as a relative outsider is the following:
Whatever your hashrate, you will only earn money when your pool finds a block. So when all the pools that you are not with are finding blocks, your own pool is eating up electricity for nothing. I noticed in some pools that it took a massive 6 hours to find a block.
Have I got this wildly wrong or should all pools integrate into one big one?
Jump to: