Sorry, I meant I get 620,000khash/s on my 5970.
I'm considering pooled mining since I have to constantly reboot my machine and don't like the "luck" aspect.
Can anyone tell me if it's be more profitous for me to use Slush', or this mining pool, given the "heavy hitter" mining I'm doing?
Topic: Instant-Payout Mining - BitPenny.com - page 5. (Read 35158 times)
At 620Kh/s, you will solve a block every 5 years, 37 weeks at the current difficulty. Since difficulty will keep going up, you are likely to never actually solve a block on your own.
However, your expected return per hour is 50/50027, or .000999460 BTC/hour.
Mining at BitPenny at the current difficulty, you will solve one share on average every 1 hour and 55 minutes, 27 seconds, earning .00173091 BTC, the equivalent of about .0009 BTC/hour.
However, your expected return per hour is 50/50027, or .000999460 BTC/hour.
Mining at BitPenny at the current difficulty, you will solve one share on average every 1 hour and 55 minutes, 27 seconds, earning .00173091 BTC, the equivalent of about .0009 BTC/hour.
Hi, could you explain how you calculated these times?
http://www.alloscomp.com/bitcoin/calculator.php
At 620Kh/s, you will solve a block every 5 years, 37 weeks at the current difficulty. Since difficulty will keep going up, you are likely to never actually solve a block on your own.
However, your expected return per hour is 50/50027, or .000999460 BTC/hour.
Mining at BitPenny at the current difficulty, you will solve one share on average every 1 hour and 55 minutes, 27 seconds, earning .00173091 BTC, the equivalent of about .0009 BTC/hour.
However, your expected return per hour is 50/50027, or .000999460 BTC/hour.
Mining at BitPenny at the current difficulty, you will solve one share on average every 1 hour and 55 minutes, 27 seconds, earning .00173091 BTC, the equivalent of about .0009 BTC/hour.
Hi, could you explain how you calculated these times?
I like the idea very much. 10% sounds ok for me, mostly not because of risk associated with variance, but because this pool is going to be used rather by slower miners, so higher server maintenance cost compared to income (many getworks, not so many blocks). Also using bitcoin address as login is very clever.
Thank you for the support
I like the idea very much. 10% sounds ok for me, mostly not because of risk associated with variance, but because this pool is going to be used rather by slower miners, so higher server maintenance cost compared to income (many getworks, not so many blocks). Also using bitcoin address as login is very clever.
"Take" is actually a bit of a misnomer, as the server only gives out.
I like your service, but please, don't mist the reality that earn 50BTC against your pool is like mining standalone with higher than current difficulty, something around +10%. It is absolutely OK, as you take a risk of block variance and must be ready for unlucky times, but it is real cut off.
Sorry if this didn't sound right; the server certainly returns 10% less than expected value, as I went on to reiterate in the rest of the post. I've also placed it in the description:
Quote
*Please note that in order to keep this service viable, the server pays out less than the expected value of mining alone.
What I meant to say is that BitPenny does not take a part of the winning block (it does not directly "tax" actual winnings that a miner makes), since it pays before the block is found. It takes 10% of the expected value.
I felt that it was important to make this distinction to stress the core feature of BitPenny - that the user does not suffer when there are few generators connected to the server, or during any unlucky streaks or any other issues, since he still makes 90% of his expected value regularly, even during the times when the server loses realized BTC.
I am started mining at 2500khash/s. Let see when i get atleast 0.1BTC
"Take" is actually a bit of a misnomer, as the server only gives out.
I like your service, but please, don't mist the reality that earn 50BTC against your pool is like mining standalone with higher than current difficulty, something around +10%. It is absolutely OK, as you take a risk of block variance and must be ready for unlucky times, but it is real cut off.
Bob only gets a share of half the blocks created by Alice's pool, although he's connected 24/7.
Which is, of course, irrelevant. Bob gets all money corresponding to his hashrate. There is no reason why user with 1 hash/s should get a penny from every block.
Simply said, only difference between this and my pool is that OneFixt take risk on his own, but cut payments for 10%. I don't take risk of mining probability, so miners payouts are not _so_ clear (but they are at least at daily scope), but I don't cut off payments (except donations).
Both modes fits to another audience, so it's OK, but don't say "this is better for XYZ miners, because those big players on slush's pool cut off your money", that's not true.
I was curious, what percentage does this pool "take"?
Sorry, might not be wording my question right, but I was wondering what you meant by it is running at 87.5% specifically in comparison to regular mining
Sorry, might not be wording my question right, but I was wondering what you meant by it is running at 87.5% specifically in comparison to regular mining
"Take" is actually a bit of a misnomer, as the server only gives out. What happens is that the server pays you 90% of your statistical expected return, and keeps the actual return, which could be anything depending on luck. You might lose a few percent over your expected value due to stale blocks resulting from network overhead, which is how BitLex ended up with 87.8% return.
At 620Kh/s, you will solve a block every 5 years, 37 weeks at the current difficulty. Since difficulty will keep going up, you are likely to never actually solve a block on your own.
However, your expected return per hour is 50/50027, or .000999460 BTC/hour.
Mining at BitPenny at the current difficulty, you will solve one share on average every 1 hour and 55 minutes, 27 seconds, earning .00173091 BTC, the equivalent of about .0009 BTC/hour.
You could withdraw your first .01 BTC in about 11 hours and 7 minutes.
I was curious, what percentage does this pool "take"?
Sorry, might not be wording my question right, but I was wondering what you meant by it is running at 87.5% specifically in comparison to regular mining
I'm also curious what this pool would compare to other pools in net income such as slush' pool, etc... I'm running 620 or so khash but I'm considering pooling cuz I just have to always end up rebooting my computer and such due to it also being a workstation
Sorry, might not be wording my question right, but I was wondering what you meant by it is running at 87.5% specifically in comparison to regular mining
I'm also curious what this pool would compare to other pools in net income such as slush' pool, etc... I'm running 620 or so khash but I'm considering pooling cuz I just have to always end up rebooting my computer and such due to it also being a workstation
it's fine running multiple miners with a single address.
your choice to use a single address, or one for each miner.
your choice to use a single address, or one for each miner.
Is it possible to point more than one miner using the same payment address, or is only one miner per address ?
another (offtopic)question - are u accepting lindens for bitcoins :-)
of course i do.
Great - i sent you a pm - ty so much for answering my questions. Cant wait to do a exchange with you!
another (offtopic)question - are u accepting lindens for bitcoins :-)
of course i do.
i can try 
Alice runs a pool.
Bob's miner gets 500khash/s, which earns him about 1share every 2hours.
Bob's miner is connected to Alice's pool.
Alice's pool is that big, that it creates ~1block per hour.
Bob only gets a share of half the blocks created by Alice's pool, although he's connected 24/7.
Alice runs a pool.
Bob's miner gets 500khash/s, which earns him about 1share every 2hours.
Bob's miner is connected to Alice's pool.
Alice's pool is that big, that it creates ~1block per hour.
Bob only gets a share of half the blocks created by Alice's pool, although he's connected 24/7.
guess they'll lose more on pools (the more the bigger a pool gets) than the ~12.5% on this server.
Can you explain this more, please?
it sure is,
when you connect to the server, your miner asks for some data and starts hashing that data,
all found "winning-hashes" are automagically sent to the server.
when you connect to the server, your miner asks for some data and starts hashing that data,
all found "winning-hashes" are automagically sent to the server.
o wow thanks so much for the help!!
another (offtopic)question - are u accepting lindens for bitcoins :-)
it sure is,
when you connect to the server, your miner asks for some data and starts hashing that data,
all found "winning-hashes" are automagically sent to the server.
when you connect to the server, your miner asks for some data and starts hashing that data,
all found "winning-hashes" are automagically sent to the server.
this server is (just like slush's pool) running at a difficulty of 1,
so you should be able to find a matching hash every hour or so even on slower CPUs.
you get paid for each and every hash you submit (and that has been accepted),
it doesn't matter if anyone solves a block or not and it also doesn't matter how many others use the system,
you get a fixed amount (0.00173091) for each hash you submit.
i've been running a miner on bitpenny for >16hours now with a performance of ~87.8%,
sure, it's less than "average" solo-mining, but a stable, steady income that you can count on (no need for luck) and it's paid instantly.
great service, especially for very slow miners that might not find a single hash within pool-round-duration-time,
guess they'll lose more on pools (the more the bigger a pool gets) than the ~12.5% on this server.
i'll keep testing it for a while
so you should be able to find a matching hash every hour or so even on slower CPUs.
you get paid for each and every hash you submit (and that has been accepted),
it doesn't matter if anyone solves a block or not and it also doesn't matter how many others use the system,
you get a fixed amount (0.00173091) for each hash you submit.
i've been running a miner on bitpenny for >16hours now with a performance of ~87.8%,
sure, it's less than "average" solo-mining, but a stable, steady income that you can count on (no need for luck) and it's paid instantly.
great service, especially for very slow miners that might not find a single hash within pool-round-duration-time,
guess they'll lose more on pools (the more the bigger a pool gets) than the ~12.5% on this server.
i'll keep testing it for a while
is the hash submitted automatically? im sorry im a noob i know
thanks for explaining :-)
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