Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01 - page 56. (Read 325004 times)

I think Spondoolies is undermining the decentralisation aspect of BTC with this technology at this time under these terms.  Or am I to conservative? 
As their customer I let my opinion be known to them.  Anyway, in the very near future mining will only be for very big players I guess.
For me (14TH/s) I give it only 1 year of mining at most.   ( And I hope some luck will return to our pool )
Maby Ethereum is an alternative for those who are becoming to small for BTC.  If you still have some graphic cards left.
Ethereum is tested right now and has some promising features.

Some users are having problems connecting to the main mining server. We are now over on a backup server. If you were having problems connecting then it should work again now.

With Spondoolies selling 110TH/s machines that consume 0.15W per GH/s only to large players, I really do not see how small miners are going to survive at all.   We are now dividing up about a block a day amongst us all.   If a minimum order is 15-20 machines (like the rumors say), each person that buys into Spons will be adding 1.7-2.2 PH/s all by themselves.   At some point the amount you receive gets so insignificant that you do not care.   I find it all kind of depressing.

"we" created this situation for everything in the world of electronics and not only... of course not me and you but bigger wales.
let's remember butterfly labs that i personaly order 3 units of asic and reached my door 1 unit after 1,5 years!!!!!!!!and in reality steal me when refund me in $ when i cancelled my 2 orders but i paid in BTC and NOWHERE in terms was this describing that if you cancel you will be refuned in $. why i would ever in the world wanted again to order from US anything? of course will buy from China since every order reached my door with 3 days maximum delay...
this need to think: when we do business act like pro and not like amatures.

I think the most likely danger from bitcoin hashpower majority being within one country or legal area is transaction censorship. Maybe something like what the US government have done or still does today within the old financial systems. They have blocked payments to Wikileaks, Russian banks, etc. It would be foolish to assume that the Chinese are so much nicer than the Americans and would never do such a thing.

When you have hashpower majority you can simply orphan any blocks that contain transactions you don't approve of.

You can also double spend.

I suppose it might also be possible that a nation would want to do lots of double-spends to make transactions unreliable, if they wanted to destroy Bitcoin.

They may want some coins under the table so to speak.

The issue is not that the four biggest pools are in China .

The issue is almost every miner for retail sale comes from China.

why want to do this to the pools? just curious why a goverment want to call and speak with this pools...
with exchange i understand it but with pools?

4 chinese pools have roughly 60% (Antpool, F2Pool, BTCC Pool and BW). If the chinese government decides to give them a call, like they did with exchanges in Dec 2013, then we have a problem. Actually, the mere fact that we currently have to trust the chinese government not to do this makes Bitcoin something less than the trustless decentralized network it's supposed to be.

Been away for a while, do you mean china in general has 60% or do you mean a few people in china have 60%?   I guess I should go look up Organ's thread too.

i setup my miners to bitminter pool for 3-4 months now...

just to share my experience, all perfect until now, no problems. i use google OpenId and always check my status of the workers minimum 3 times per day. i buy also new miners because of brake down some old ones and put them also here. overall experience 100% satisfied, i suggest to use this pool.

You can create an AOL account with almost no info (and all of it made up if you want).  I created one for the sole purpose of being able to chat with someone who used a MAC since AIM is compatible with that whole MAC chat thing, whatever it is called.  Then when I signed up on bitminter I just used that same AOL account and it works fine (except when AOL openID was broke for a minute there).  https://my.screenname.aol.com/_cqr/login/login.psp?

By the way, thanks for wanting to mine responsibly. Many miners these days don't even know why decentralization is important for bitcoin. Even fewer have noticed that China has over 60% of the hashpower and what a problem this could be.

The idea in 2011 was to simplify things for users so they don't have to remember so many passwords. Nowadays people use password managers, so that is less of an issue. While some do like the "single sign-on" others don't want to link accounts for privacy reasons. Adding login with user name and password is on the TODO list. Until that is implemented the easiest way would be to create a separate account at Google, Verisign or similar only for logging into Bitminter if you want to avoid having any connection to your regular Google account.

Originally (in 2011) I also thought there would be less support requests related to login issues (no lost passwords). It turns out there's a lot of "I deleted my Google account. How can I log in now?" or "I got banned by Google". Not to mention angry emails accusing me of working with the NSA to spy on people. Or users swearing about how dumb the website is that doesn't recognize them, after they create an account with their own Google account, but are then unable to log in with their girlfriend's Google account.

A lot of users just don't understand OpenID, or even the "log in with Google" or "log in with Facebook" that many websites have. So yeah, name and password would probably have been a better choice.

That said, over 350 000 people have registered and most of them manage(d) fine.

I really like the idea of decentralise transaction verification so I would like to support pools with low hashing power. However, the only thing that stops me to support Bitminter is the requirement to use an online account to mine on Bitminter. I don't have and I don't want to have an online account managed by any companies like AOL, Yahoo, etc. But out of curiosity if you don't mind to explain, what is the reason why having online account is mandatory to mine on Bitminter? Why can we not register an account which is localised on Bitminter network? Or why can we not use our Bitcoin address to mine on Bitminter?

There is no display showing the amount of work you got paid for for each block. You can see the payment for each block under "my account" -> "transaction history" in the website menu. You can see your work in each shift under "statistics" -> "shifts" in the menu. When a block is found the work that gets paid is the work in the 10 last completed shifts at the time.

If your 4 hours of work is still within the last 10 shifts (see shifts page), then it can still get paid from blocks we find until those shifts are no longer the 10 latest ones.

Thank you for your prompt reply. But is there any way I can see how many shares are contributed by me vs the whole pool for a particular block ? Just like Antpool did here => https://www.dropbox.com/s/10nivr4ld72vho8/2015-10-18%2013.27.30.jpg?dl=0

Since I mined at the rate of 880 Gh/s (average) on bitminter, constantly for 4 hours and then stopped it, will this be another reason for not getting any rewards of those shares till now ? Or, haven't a single block been mined until now ?

Not at all


BTC reward and Namecoin reward are on two different difficulty. Someone made a Namecoin block but the share wasn't high enough to solve a Bitcoin block.

Check the Block Income page => https://bitminter.com/blocks?commodity=all

EDIT: or just follow DrHaribo indications

That's only for statistics. You can change the filter at the bottom of the table to show your work for all time or since last reset. The reset does not actually remove any work and has no effect on payouts. It works similar to a trip meter in a car.

You get paid when blocks are found. Read more here: https://bitcointalksearch.org/topic/m.2769824

Will the share rates become zero and no reward is given if I click on "Work counts reset" button on my active worker? Incidentally I clicked on it while hashing and till now didn't get any rewards for those shares which were reset before! But, fortunately I got rewards of the Namecoin shares only! OP, please throw some light on this!

Probably way too late for this, but I would support BIP101. Miners have enough power. BIP100 will add unnecessary uncertainty.