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Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01 - page 43. (Read 325004 times)

hero member
Activity: 658
Merit: 500
Visualize whirledps
I do understand, Doc.

I was just commenting on the sadness of seeing 11% shifts drop off.

I do have the prepay perk and the transactions fees are already in my wallet.

I mine full-time, but only with 2 S7's, the rest is rented. Just wish I was one of the lucky ones finding blocks. It seems to be many of the same people finding blocks even at much lower hash rate than I have been putting in for a few weeks.

I suppose it is a fallacy that the more hash you add to the pool, the more likely it is you will find a block. Just luck and some people appear to be much luckier than others.

I have never found a block and would certainly enjoy the thrill of that happening! Smiley
Thanks.
legendary
Activity: 2730
Merit: 1034
Needs more jiggawatts
I think that would extend the payable from approximately ~55 hours to ~ 82.5 hours.
If I understand PPLNS correctly, which I doubt I do, you would be extending the number of payable shifts, but each shift would also be worth less, so your net in the end would be the same (?).  Is that correct?  I don't think there's a way for you to magically get paid more BTC for doing the same amount of work.

You are correct. If you have 1% of the pool hashrate then you get 1% of the coins that are paid out. It's that simple if you mine 24/7, and you don't have to worry about shifts.

For part time miners if I increase the shifts then the variance goes down. That includes people renting hashes for a limited time. If you rent someone's hashing for a few hours then if we have long shifts you are more likely to have an average payout. If we have short shifts then you are more likely to have a very high or very low payout. Longer shifts even out the payouts more for those who don't mine 24/7.

But most importantly longer shifts would help with the negative psychological effect of seeing a shift with zero pay. Because of negativity bias (known deficiency of the human brain) people will over-focus on the unpaid shift even if it was a lucky day with high payouts overall. It makes people feel like they are losing when they are winning. This has caused people to leave the pool or send in angry complaints even at times when we have great luck and higher payouts than any other pool.

I suppose the block needs more confirmations to be payable. So payout is now pending.

Payouts happen after just a few seconds if you have the pre-pay perk enabled at the time when the block is found. Otherwise it happens when the confirmations have counted down.
hero member
Activity: 658
Merit: 500
Visualize whirledps
You may be completely correct. I don't know.

The only thing I see (from my point of view only), is that I have 10 work shifts consisting mostly of 11+% work shares and that slowly falls away to become 10's and 9's.

Well, another block was just found as I was writing this. Congratulations Fefox.

I wish I knew what your settings were Wink

** The BTC block was marked as stale at first. Then it changed to 99 confirmations left. Also, don't see any payouts. Not sure I understand. Oh well, I'm new at this.  Huh

I suppose the block needs more confirmations to be payable. So payout is now pending.
legendary
Activity: 1274
Merit: 1000
I think that would extend the payable from approximately ~55 hours to ~ 82.5 hours.
If I understand PPLNS correctly, which I doubt I do, you would be extending the number of payable shifts, but each shift would also be worth less, so your net in the end would be the same (?).  Is that correct?  I don't think there's a way for you to magically get paid more BTC for doing the same amount of work.
hero member
Activity: 2534
Merit: 623
Although not 11% shifts my best shifts (thanks to the rental) have just all disappeared aswell. Back to dust payouts for me  Undecided
hero member
Activity: 658
Merit: 500
Visualize whirledps
It certainly makes me sad to see 11+% worker shift scores fall off the eligible for pay board without making anything.

You mentioned in a previous post that you had some things in the works for the website.
Would any of those things include extending shift time or enabling pay for, say, 5 more shifts to remain active.

I can't begin to say I know the technical and financial inner workings of how all of this works. But in the unlikely case I'm ever asked, I would vote for the adding of 5 more payable shifts. I think that would extend the payable from approximately ~55 hours to ~ 82.5 hours.
Fewer 11% shifts falling by the wayside. Just a thought.
Smiley
hero member
Activity: 2534
Merit: 623
Well I've rented 5th and spent 0.05BTC on it. It's covered 4 shifts and still got 1day 15houts remaining. Thanks to bguillot I've earns half of that back so far. It's the first time it's ever looked likely to break even or make a profit!  Shocked
hero member
Activity: 2534
Merit: 623
Bravo Th1nk3r!!! No surely it's time for me to get a block with my mini mining menagerie  Cheesy
legendary
Activity: 1260
Merit: 1006
Mine for a Bit
My Miners are being delivered today so, should have them online here within a day.   WoooHooo!   Cheesy


Difficulty Adjustment Update as of 13:25 EST on 17Mar16:

Bitcoin Difficulty:   158,427,203,767
Estimated Next Difficulty:   165,315,993,538 (+4.35%)
Adjust time:   After 99 Blocks, About 15.9 hours
legendary
Activity: 1274
Merit: 1000
Why don't you like merged mining?
I guess because I'm a bit of a purist with things and I don't really care for alt coins like I do bitcoin.  Like you alluded to in cons, any time spent on the nmc side of things is time you could have spent on the btc side.  Part of me also also wonders, would the pool perform better if it weren't merge-mining?  I know you say (will all good reason and support I'm sure) that it does not affect btc mining at all, but in the back of my mind there is always that question.  I did uncheck "Merged mining stale flush" earlier at your suggestion.
legendary
Activity: 2730
Merit: 1034
Needs more jiggawatts
Does Bitminter run its own pool software?  If not, what software does it use?

All custom made.

My only complaint is that I'm not really a fan of merged mining, but with only 70GH of my hash here it's not a real concern for me at this point.  I would be interested to hear (unbiased) why this pool merge-mines and what the pros/cons of it are.

Why don't you like merged mining?

Pro: free namecoins.
Con: the time I spend to keep our namecoin nodes running could be better spent on something else. The namecoin software has been very unstable in the past. One pool controls a large majority of the hashrate in the namecoin world. That pool modified their nodes to hardfork at an earlier time than everyone else, causing problems for all the other pools (many orphaned namecoin blocks).

If you are concerned that you will get rejected (stale) bitcoin work when there is a namecoin block change, you don't at this pool. Old bitcoin work is still valid at Bitminter unless there was a bitcoin block change.

If you still don't want the server to tell your client to flush old work when there is a namecoin block change, then you can turn this off in your worker settings. Uncheck the "Merged mining stale flush".

Changes I have been considering:
  • Make "Merged mining stale flush" opt-in rather than opt-out.
  • Make namecoins opt-in. If you don't opt in your work is still used to create namecoin blocks, but you do not get namecoins and you do not have a namecoin balance shown on the website at all. Of course there would be no namecoin work flushing for your workers. This would remove the annoyance of namecoins for those who don't like them ("why am I getting namecoins" is one of the most common complaints). It could also be a small extra income for the pool.
legendary
Activity: 1274
Merit: 1000
I pointed my dust miners here to check it out, I like what I see so far.  Electricity is too high where I live to mine for profit, so I have a solo lottery S5 and a bunch of usb miners (another ~70GH) that I dust mine with because it's fun to see a little coin trickle in.  The dust miners have been on kano.is but since that pool grew so much recently I am below the payout threshold over there, so hoped them over here to hopefully start seeing payments again.

My two week evaluation period is coming to an end (I know, it's a short period to evaluate over, but...) and my total accumulated payout here is about equal to what it would have been with my dust miners still at kano.is.  I like that I can receive a payout here at anytime (with a fee) or keep letting my dust accrue to 0.01btc and then get a payout, so my usb miners will stay here for the time being, thanks.

Does Bitminter run its own pool software?  If not, what software does it use?

My only complaint is that I'm not really a fan of merged mining, but with only 70GH of my hash here it's not a real concern for me at this point.  I would be interested to hear (unbiased) why this pool merge-mines and what the pros/cons of it are.
hero member
Activity: 2534
Merit: 623
So what can we do to get these blocks faster? I want it to go back to the old trend of a Hard block (red) then a nice easy one straight away  Grin

Some miners used to put on red underwear...


Well I put on some red boxers and look what happens today  Cheesy
legendary
Activity: 1260
Merit: 1006
Mine for a Bit
Good Job mambo!  Get Another One!

Should be sending more hashing power here by the end of the week!

If you know of someone that is a Miner....Bring them here.
legendary
Activity: 1274
Merit: 1000
So what can we do to get these blocks faster?
Buy more miners, plug them in, and point them here!  Only thing you can do to increase your chances/frequency of block solving is to add more hash.
legendary
Activity: 2730
Merit: 1034
Needs more jiggawatts
So what can we do to get these blocks faster? I want it to go back to the old trend of a Hard block (red) then a nice easy one straight away  Grin

Some miners used to put on red underwear...
hero member
Activity: 2534
Merit: 623
So what can we do to get these blocks faster? I want it to go back to the old trend of a Hard block (red) then a nice easy one straight away  Grin
legendary
Activity: 2730
Merit: 1034
Needs more jiggawatts
Same miner as 10 days ago. But we had two other blocks inbetween.
legendary
Activity: 1260
Merit: 1006
Mine for a Bit
We Got One  - Great Job Saglimbeni!

Was it the same miner as before?
legendary
Activity: 2730
Merit: 1034
Needs more jiggawatts
I just bought some more S7 Batch 12 Miners.  As soon as they are delivered to my host I will get them mining here.  Thanks Doc for this Pool! 

Awesome!

Now let's get back on the lucky blocks Smiley
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