Pages:
Author

Topic: My bitcoin reward keeps decreasing!? (Read 2610 times)

hero member
Activity: 662
Merit: 500
January 01, 2015, 11:44:11 AM
#41
Since that's how Bitcoin and the miner community is, it's a lot more profitable if you moved your hashing power to
a different cryptocurrency (SHA 256 that is) since you can get a lot more of the coins and just exchange it for
a better value than you are getting with mining bitcoin.

Or more easily, you can point your hashrate to a profit-switching pool, and the pool will keep tracking the profitability and choose the best coin for you automatically.
sr. member
Activity: 266
Merit: 250
Grow SMALL amount of BTC by earning it
December 31, 2014, 05:47:41 AM
#40
Yes, as what other people said,
difficulty makes mining bitcoin for your bitcoin miner harder, therefore you get less rewards in the given time.

Since that's how Bitcoin and the miner community is, it's a lot more profitable if you moved your hashing power to
a different cryptocurrency (SHA 256 that is) since you can get a lot more of the coins and just exchange it for
a better value than you are getting with mining bitcoin.
legendary
Activity: 1008
Merit: 1000
December 31, 2014, 05:43:52 AM
#39
your rewards decreasing because the time you started mining difficulty was lower then now
as difficulty for bitcoin mining rise , mining rewards for your hardware keep decrease
sgk
legendary
Activity: 1470
Merit: 1002
!! HODL !!
December 31, 2014, 05:31:13 AM
#38
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!

I used to make 5 bitcoins per minute (no joke!).  Now, with the same hardware I couldn't make one bitcoin in a decade.   Undecided

Man, you're just making me go crazy. I wish I had woke up early to Bitcoin mining!

How would it feel to have thousands of BTC sitting in a  USB drive somewhere in the corner of my desk?  Cheesy
legendary
Activity: 1050
Merit: 1000
December 30, 2014, 05:21:31 PM
#37
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!

I used to make 5 bitcoins per minute (no joke!).  Now, with the same hardware I couldn't make one bitcoin in a decade.   Undecided

I used to have a 50GH/s asic that could pull just over 1.5 bitcoins a month. If I still had it now it would be making just enough to cover the tx fee
Vod
legendary
Activity: 3668
Merit: 3010
Licking my boob since 1970
December 30, 2014, 05:16:24 PM
#36
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!

I used to make 5 bitcoins per minute (no joke!).  Now, with the same hardware I couldn't make one bitcoin in a decade.   Undecided
hero member
Activity: 502
Merit: 500
December 30, 2014, 03:36:12 AM
#35
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!

The number of people mining Bitcoins keeps increasing, but the reward stays at 25 BTC / block.
This gives everyone less Bitcoins as time passes.

Unless the number of people (total hashrate) decreases, this is bound to happen this way.

Hash rate is actually going down, so rewards might increase in the future.
sgk
legendary
Activity: 1470
Merit: 1002
!! HODL !!
December 30, 2014, 02:32:28 AM
#34
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!

The number of people mining Bitcoins keeps increasing, but the reward stays at 25 BTC / block.
This gives everyone less Bitcoins as time passes.

Unless the number of people (total hashrate) decreases, this is bound to happen this way.
hero member
Activity: 868
Merit: 1000
December 27, 2014, 01:58:05 AM
#33
Next year July guys,  the block halves, be ready.

Are you sure its next year july? I though its 2016 july which is about 1 and half year from now.

what is the effect of that?

Miners will get just 12.5 btc + tx fee after halving, so older ASICs will not be profitable to run.
Some miners may shut down their ASICs. Those planning to buy ASICs may switch to buy bitcoin directly as well.
hero member
Activity: 574
Merit: 500
CoinBooster Rep
December 26, 2014, 08:54:58 AM
#32
Next year July guys,  the block halves, be ready.

Chaos.. No one is ever going to ROI again.

Nope it is not. The next block halving is going to happen around July 2016 instead. So we are going to continue having a 25 block reward for one and a half year.

Whoops  Cheesy I seem to have jumped the gun.

Well it's almost 2015 so we're getting close.
sr. member
Activity: 462
Merit: 250
December 26, 2014, 07:46:20 AM
#31
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!
the hash rate is increasing. It is hard and hareder to mine bitcoin.
sr. member
Activity: 322
Merit: 250
Ask me anything if you have any problem
December 26, 2014, 07:12:21 AM
#30
Did you just mine without understand about mining? Difficulty keep increasing. You not get same btc everyday dude
legendary
Activity: 966
Merit: 1000
December 26, 2014, 06:07:22 AM
#29
So I've been mining for about 2-3 months non-stop using 4 antminer U2's and when I first started out I was getting a little over 0.00002000 BTC , now I'm only getting 0.00001300 is there any reason? I'm using a raspberry pi as the controller hub all of my miners are at 2 giga hashes and don't really fluctuate. The only thing I could think of is my pool which is shush pool.
Please help!
No it isn't problem with your hardware the total hashrate of network and diff is increasing so you still own lower and lower percentage of mining power wich maked you earn way less coins.
full member
Activity: 140
Merit: 100
December 26, 2014, 12:10:50 AM
#28
Next year July guys,  the block halves, be ready.

Are you sure its next year july? I though its 2016 july which is about 1 and half year from now.

what is the effect of that?
hero member
Activity: 784
Merit: 500
DeFixy.com - The future of Decentralization
December 25, 2014, 11:22:02 PM
#27
the higher the difficulty the lower the rewards.  you can use a profitability calculator to estimate your reward

and also you should keep increasing your hashrate constantly.
the bigger network the less your propotion rewards.
sr. member
Activity: 481
Merit: 250
December 25, 2014, 11:04:17 PM
#26
Next year July guys,  the block halves, be ready.

Are you sure its next year july? I though its 2016 july which is about 1 and half year from now.
hero member
Activity: 532
Merit: 500
December 25, 2014, 06:02:55 AM
#25
Next year July guys,  the block halves, be ready.

Chaos.. No one is ever going to ROI again.

Nope it is not. The next block halving is going to happen around July 2016 instead. So we are going to continue having a 25 block reward for one and a half year.
hero member
Activity: 532
Merit: 500
December 23, 2014, 10:07:17 AM
#24
because difficult bitcoin increasingly rising.

I was so. income from 0.0017 is now just getting 0.00025
hero member
Activity: 1372
Merit: 783
better everyday ♥
December 23, 2014, 08:47:15 AM
#23
The difficulty has increased, and your daily mining is less profitable, simple as that  Wink

If you want to get technical, the difficulty has actually decreased the last two periods and is on pace for a third straight decrease:

Code:
Difficulty History

Date Difficulty Change Hash Rate
Dec 17 2014 39,457,671,307 -1.37% 282,449,013 GH/s
Dec 02 2014 40,007,470,271 -0.73% 286,384,627 GH/s
Nov 18 2014 40,300,030,328 1.76% 288,478,854 GH/s
Nov 05 2014 39,603,666,252 10.05% 283,494,086 GH/s
Oct 23 2014 35,985,640,265 2.81% 257,595,247 GH/s
Oct 09 2014 35,002,482,026 0.98% 250,557,526 GH/s
Sep 25 2014 34,661,425,924 16.20% 248,116,151 GH/s
Sep 13 2014 29,829,733,124 8.75% 213,529,547 GH/s
Aug 31 2014 27,428,630,902 15.03% 196,341,788 GH/s
Aug 19 2014 23,844,670,039 20.86% 170,686,797 GH/s
Aug 08 2014 19,729,645,941 5.30% 141,230,307 GH/s
Jul 25 2014 18,736,441,558 8.08% 134,120,673 GH/s
Jul 12 2014 17,336,316,979 3.08% 124,098,191 GH/s
Jun 29 2014 16,818,461,371 24.93% 120,391,236 GH/s
Jun 18 2014 13,462,580,115 14.51% 96,368,902 GH/s
Jun 05 2014 11,756,551,917 12.44% 84,156,677 GH/s
May 24 2014 10,455,720,138 18.10% 74,844,960 GH/s
May 12 2014 8,853,416,309 10.66% 63,375,223 GH/s
Apr 29 2014 8,000,872,136 14.64% 57,272,474 GH/s
Apr 17 2014 6,978,842,650 14.04% 49,956,502 GH/s
Apr 05 2014 6,119,726,089 22.23% 43,806,706 GH/s
Mar 24 2014 5,006,860,589 17.80% 35,840,504 GH/s
Mar 13 2014 4,250,217,920 11.39% 30,424,245 GH/s
Feb 28 2014 3,815,723,799 21.92% 27,314,015 GH/s
Feb 17 2014 3,129,573,175 19.39% 22,402,357 GH/s
Feb 05 2014 2,621,404,453 19.49% 18,764,744 GH/s
Jan 24 2014 2,193,847,870 22.59% 15,704,175 GH/s
Jan 13 2014 1,789,546,951 26.16% 12,810,076 GH/s
Jan 02 2014 1,418,481,395 20.12% 10,153,885 GH/s
Dec 21 2013 1,180,923,195 30.01% 8,453,378 GH/s
Dec 10 2013 908,350,862 28.41% 6,502,229 GH/s
Nov 29 2013 707,408,283 16.07% 5,063,826 GH/s
Nov 17 2013 609,482,680 19.29% 4,362,847 GH/s
Nov 05 2013 510,929,738 30.70% 3,657,378 GH/s
Oct 26 2013 390,928,788 46.02% 2,798,377 GH/s
Oct 16 2013 267,731,249 41.45% 1,916,495 GH/s
Oct 06 2013 189,281,249 27.19% 1,354,928 GH/s
Sep 25 2013 148,819,200 32.13% 1,065,289 GH/s
Sep 14 2013 112,628,549 29.56% 806,227 GH/s
Sep 04 2013 86,933,018 32.22% 622,291 GH/s
Aug 24 2013 65,750,060 29.40% 470,657 GH/s
Aug 13 2013 50,810,339 35.88% 363,715 GH/s
Aug 03 2013 37,392,766 19.63% 267,668 GH/s
Jul 22 2013 31,256,961 19.47% 223,746 GH/s
Jul 11 2013 26,162,876 22.63% 187,281 GH/s
Jun 29 2013 21,335,329 10.32% 152,724 GH/s
Jun 16 2013 19,339,258 23.92% 138,436 GH/s
Jun 05 2013 15,605,633 28.41% 111,709 GH/s
May 25 2013 12,153,412 8.64% 86,998 GH/s

Though yes, the point you were trying to make is network hash rate growth is exponentially increasing, even with the 3 most recent difficulty decreases, though it seems we may reach a point of equilibrium in the not so distant future.

For the noobs, there's too many dudes mining the same gold nugget, that you only end up with gold dust on your pickaxe.  Biggest pickaxe gets the biggest chunk.
hero member
Activity: 658
Merit: 500
December 23, 2014, 08:39:50 AM
#22
The difficulty has increased, and your daily mining is less profitable, simple as that  Wink
Pages:
Jump to: