Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01 - page 86. (Read 324945 times)

Shift size has been reduced to 0.1x difficulty (10 shifts = 1x difficulty worth of work). That is 25% of the former shift size. This means the delay from you do some work until that work is fully paid will be much shorter than before. Because of the increasing difficulty this delay had grown to over 5 days. The new shift size should make the delay more reasonable.

The downside is increased short term variance. This doesn't matter if you are mining in the pool 24/7. It's the same coins being paid out, and if you have 1% of the hashrate then you get 1% of the coins. But if you mine in the pool part time then you may notice greater variance with your part time mining, meaning you can notice the good and bad luck swings more than before. The chance will be higher for shifts with very good pay, but also shifts with zero pay. This can be painful for part time miners if they mine at the "wrong" time, and don't mine during the high-paying shifts. If our hashpower increases in the future we will increase the shift size to reduce short-term variance again.

Since BTC is going down, some will just stop mining. Another 10% drop and it might be more then once

It would be great to catch a break.  Even if only this once...

There was a difficulty decrease way back in early 2013 I believe.

I also follow the same. The estimation follow a trend where is over-estimate the difficulty for the most part until like 2 days remains. Then, most of the time, the estimation is really really close to reality. There is another important trend to know too, it's that most of the time, at the end of a difficulty a bunch of Hashrate is added into the network. So for now, we are close to 1-2% but more hashrate could be added until the end of the difficulty. BTC is going down tho, might not happen.

EDIT: all indications for now tell us that we might see the first negative adjustment since a long time. (maybe forever ? can't tell)

I follow quite a few, but as a small-time miner (~ 1 Tbps + or -), I am partial to:  https://bitcoinwisdom.com/bitcoin/difficulty

This shows both Bitcoin and Litecoin difficulty metrics and predictions -- both of which I am mining (FYI: my one and only pool that I've mined BTC on for almost a year is BitMinter)

And it just so happens, that as I write this, it predicts the next difficulty at just+0.91% above current; however, that has been falling all week. Will we see a difficulty DROP this time?  It's still looking that way, but of course not guaranteed until it happens.

 

I don't know if you guys follow the general Macro metrics of Bitcoin but I like to see what's happening at a high level.  Here is a chart I've been watching closely.  The wat I see it, more transactions spread around the network means more adoption.  I feel as though this could be a good leading indicator of where the BTC market is heading. Obviously we all look at the current price but with that aside, do you guys have any charts that you watch? 

https://blockchain.info/charts/n-transactions-excluding-popular


Heavy Hash rate folks, I'd be particularly interested to see what you're watching.

Sorry for the confusion, all my miners points here on Bitminter, all the time. It's just that yesterday, they were jumping on my fail-over pool for no apparent reason.

I tend to as electricity prices are high here and I have them come on in the day (sunshine) so I can use the salar panels on the roof....

Been considering selling off the USB block erupters (333) and the cubes I got... as it is starting to become non-ecconomical... even with alt coins...

All good now

Anyone else got their miners jumping in and out of the Pool ?

Nice job Fefox, as i said, i hope to upgrade soon from the 190gh i have my self.

I'd like to second this.  Glad to see you guys around and involved. 

I canceled a bunch of hardware and went with spondoolies, also had to do a massive electrical upgrade that took forever to complete.  still have loads of hardware to get online this winter

Hey Fefox, is that allso the hash power you talked about almost a year ago??

Nice to see you got more power working, hope to have more hash power hopefully around Januari my self.

Yeah you did!  Good to see some heavy hitters sticking around through the good and bad luck. 

Hell for a minute I thought they did
Blockchain fails again... what a let down

Edit: Yeah they did

5 days, 13 hours and 22 minutes 138,964,201,926 hashes till PasProfeta made the one that mattered. I need to sell my miners and move on with life.

got some Spondoolies online today... hopefully they can help power thru this block now. 

Instead of looking at how much you get for a block, it's better to look at how much you get per proof-of-work that you mined in each shift. To shift the focus over to this view, which people can understand, and away from the confusion that pay-per-block makes, I should probably remove the "expected per block" info on the website, and add info about what the pay was per proof-of-work in each shift.

Seeing this from the point of view of the work you are doing, not the blocks that are found: there is a delay from you do some work until it is fully paid. If you mine for 1 hour, we find a block, and you get a small payout, what does that mean? It doesn't mean you got a really bad pay for your 1 hour of work and you need to work for 5 days until you start being paid properly. It means your 1 hour of work just began receiving pay and it will take 5 days until that 1 hour of work is fully paid.

You also see this when you stop mining, and you keep getting paid for 5 more days. That's not the pool compensating you because it punished you in the beginning. It's the delay from work to pay.

If you do some mining on monday, you won't know what pay you get for it until friday.

Reducing the size of the shifts so you get paid 1 to 2 days after the work is done instead of 5 days and some hours later, will make this look less bad for people who misunderstand. And the website changes I am thinking of above will make it less likely that people misunderstand.

I want people to think "I did X amount of work in shift Y. How was the pay for that." Seeing mining from this angle leads to sound logic.

I don't want people to think "I got X pay for this block. Looks like I have to ramp up to full hashrate in 10 shifts before the pool pays me properly." Seeing mining from this angle leads to utter confusion and misunderstandings.

To be honest?  That is exactly what I thought... It is what as been keeping me from bringing more gear online on this pool.  At this rate, I'd use up half a difficulty level bringing up my "share per shift" and I just can't afford it.  In my other pool I'm being paid per share and if I add more I get paid more. 

Where can I read how this actually works?