Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01 - page 30. (Read 324945 times)

Well it's nice to finally see an elusive bitminter member

We will do it soon I can feel it in my creaky old bones.

About abandoning the block, many have suggested this, but this is already what we do. Every hash is already a different block. We are trying billions upon billions of different blocks per second. If we kept hashing the same block then nothing would happen. We abandon every block after just a single try. But it can take many attempts before we find a valid one.

Thanks th1nk3rs! If we can finally find the next block and get some more hashrate in then we get things going again.

No, there is no abandoning a block.  The pool is constantly creating new block templates based upon the currently unconfirmed transactions it wishes to include into a block.  The pool then appropriates work to miners, and each miner attempts to find a hash that will successfully meet the requirements and solve the block.

I have been mining with bitmain for a little while now after a false start during the gpu mining craze, and I have pretty much reinvested everything in more miners, going from a used S4 to several S7's and S9.

I have never seen anything like this and it is frustrating this time of year, as it is my games fund lol.

How long can this really go on, and is it not possible (just out of curiosity here) to simply abandon the block and hope for greener pastures?

It is crazy that I am currently so high on the list.

Hat's off to you mate, well done.
I'm splitting mine for a bit, so bored of no activity.  I quite enjoy watching the pennies roll in, but I know it'll be a bigger one because of all the leavers.

Well I thought it was time to register and say hello rather than banging my head on the wall watching the block.

I'm sticking with the pool regardless as it's always done me right and in the process of changing all the old SP35s over to the S9s so I should kick in around 2000 TH/s in the next month or so depending on when the batch is delivered to Iceland.

Hope everyone else sticks with it for as long as they can.

Cheers

Yea FedEx and thinker are still here, 5th 6th and chi264 have gone though.

I'm staying positive though my share has increased so when a block does turn up I'll be better off 

Guys,

I have mine here for like 2 years and always kept going going whatever luck we had during that time.

I feel the pain.

I wish you guys a green horizon !

Mine on

EDIT: You guys still have Fefox ! probably the oldest account in the top 50

I get worried when I reach near the top 50!

Well I never thought I would see the pool this low, but still I bet there a block on the horizon soon. I can feel it 

COME ON BLOCK!!!!!!!

Agreed, but I meant the situation is insane.  Many people abandoning now...which is a shame.

CDF is the chance that you would have found a block with a certain amount of work at a certain difficulty.

With bitcoin you are never 100% certain to find a block with any amount of work.

As the amount of work approaches infinity the chance you would find a block approaches 100%

Work never actually reaches infinity. You can never do an infinite amount of work. So no matter how much work you do you are never certain to find a block. But with huge amounts of work you can get very close to 100%

Currently we've done 1547 billion work and difficulty is 253 billion. So we're over 6x difficulty. The worst we have seen in the pool was 11x difficulty. We had a larger share of the global hashpower though, so that amount of work took less time back then.

Thankfully these events are very rare.

It's not insane... the value can never reach 100%.  Just like dividing by 2 can never reach 0.  Sure, you'll get awfully close, but you'll never hit that line.

It is insane, but I don't think it'll ever get to 100%, I'm sure I'll be corrected here, but it's a distribution so 100% is not actually there, it might get to 99.99, they will add another dp if it does 😁 then 99.991.  but like going the speed of light, in theory can only get to 99.9999999 etc... Unless someone wants to talk about quantum theories!
When found though, you'll get more as less people mine, this is a worry though, very close to dropping below 2000TB!

So who fancies sorting this block out then? Because quite frankly I've had enough of it 

Seriously though what does happen if it hits 100%? Is it going to be like the "millennium bug"?

This is terrible...someone with a big rig please help!  (ps, don't think we will get to 100%....that's not quite possible).  The trouble is (as previsously discussed), the pool is shrinking now which makes things worse....
And whilst the last difficulty went down slightly, the next one looks like it's going up in 3 days!

Please...anyone with a monster rig...step in and help.

And the pool is down to almost 2PH.  Let's knock this one out before 100% CDF!

Someone, please!

Solve this damned thing already...

25 days...?

Mining luck is completely random.

When something is random there will be runs of the same sometimes - that is just how randomness is. If you couldn't have runs of the same luck, then it wouldn't be random, would it?

You can't predict tomorrow's luck based on today's luck. That is gambler's fallacy: https://en.wikipedia.org/wiki/Gambler%27s_fallacy

But over time the randomness evens out. See the law of large numbers: https://en.wikipedia.org/wiki/Law_of_large_numbers

That said, some miners believe they can predict completely random events in the future. We have had such people try to pool hop Bitminter. When you come and go in a pool that is safe from pool hopping, it is completely random whether you get good or bad results. Of course if they got good results then they took that as evidence that they could indeed predict the future. No. If you play roulette, put your money on black and win, that doesn't mean you have magical powers. You were just lucky.

So there will be people coming back to the pool after the next block is found, thinking they are able to predict that "the luck must turn now". And maybe they will get lucky. But that doesn't mean they are people with magical abilities who are abusing the pool. It just means they were lucky. The thing is, with our reward system, when you do some work there is no way to know how well that work will be paid until later. Also, all work is treated the same, whether you are a 24/7 miner or part-time miner. So the reality is that they were just helping to search for a block, and their work is paid the same way as everyone else's.

Thanks Doc,

I am not talking about pool hoping for the next block, which is what your link
was mainly about, i am talking about pool hoping for runs of luck, over weeks
or months.  
I agree, no one will know what the next block will be, this one could be solved in
another minute or (god help us) another month.


The best description that I have heard for bitcoin mining is a room full of people
yelling out numbers at the host, who has a number in his head, awarding the block
to the first person who correctly yells the number in his head, or a bit like reverse bingo.

My anecdotal evidence of mining alts and btc in small pools or solo, is that
luck is not random, you get runs of luck, you can go for long periods without
luck, then get six blocks in as many days.  What basically always happens is that
over time everything does even out.

Now, the question with bitcoin mining is, is this number truly random or psuedo-random,
does whatever creates this number that everyone is guessing have some preference or
bias coded in to even out those correct guesses over a long period of time.

If it does, and what I have experienced over the years leads me to believe that it does,
then luck is not 100% random, whilst I may not know what the next one will be, I an pretty
sure that bad luck will be followed by good luck, to even things out, and in small pools
the luck takes longer in time to change and is much more viariable.

That is why I think your 10 shift system is not going to stop 'pool switchers' when the
luck turns, and those mining now, earning less in the good luck times than we should.

Your shift system worked well when difficulty was much lower and your percentage of
the total pool much higher, but as I said, you can hire 10pet pretty cheaply and easily
and the current 10 shifts would be over in a day.

I dont have a doctorate in maths, but I have a reasonable understanding of it.

I would be happy to wait several weeks to get paid out, if it meant a fairer playing field

cheers grant