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Topic: My Noob mining so far (Read 1379 times)

full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 27, 2013, 09:11:37 AM
#24
My rate usually goes between 180 and 270 due to my laptop being in use (adding hash rate), my wife playing WOW (lowering it a little), and me browsing the internet inbetween. So a good average would be 200.

Code:
Pooled mining earnings = hashes / 2^32 * B / D * (1 - f)
Pooled mining earnings per day  =  hashrate * 24 * 3600 / 2^32 * B / D * (1 - f)           
B = current block reward
D = current mining difficulty
f = Pool fee

So, your expected earnings per day will be (at current difficulty = 2968775) and a pool fee of 2%:

200e06 * 3600*24  / 2^32 * 25 / 2968775 * (1 - 0.03) = 0.03286384 btc

There's going to be a lot of variance in this figure. First, you have a low hashrate, so the variance in difficulty 1 shares produced per day will be more than for other miners, at about +/- 3%.

More importantly, if you mine at a pool that doesn't provide PPS, you're going to have to factor in the luck of the pool which will increase the variance in payout much more significantly. In this case, I'd average the earnings over a week or so (more for small pools).


Thanks man, that really sheds some light on things.
donator
Activity: 2058
Merit: 1007
Poor impulse control.
January 27, 2013, 07:50:03 AM
#23
My rate usually goes between 180 and 270 due to my laptop being in use (adding hash rate), my wife playing WOW (lowering it a little), and me browsing the internet inbetween. So a good average would be 200.

Code:
Pooled mining earnings = hashes / 2^32 * B / D * (1 - f)
Pooled mining earnings per day  =  hashrate * 24 * 3600 / 2^32 * B / D * (1 - f)           
B = current block reward
D = current mining difficulty
f = Pool fee

So, your expected earnings per day will be (at current difficulty = 2968775) and a pool fee of 2%:

200e06 * 3600*24  / 2^32 * 25 / 2968775 * (1 - 0.03) = 0.03286384 btc

There's going to be a lot of variance in this figure. First, you have a low hashrate, so the variance in difficulty 1 shares produced per day will be more than for other miners, at about +/- 3%.

More importantly, if you mine at a pool that doesn't provide PPS, you're going to have to factor in the luck of the pool which will increase the variance in payout much more significantly. In this case, I'd average the earnings over a week or so (more for small pools).




 
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 27, 2013, 06:10:19 AM
#22
You know, there's a whole thread listing mining pools with hashrate, fees and other variables:

https://bitcointalksearch.org/topic/btc-mining-pools-list-104664

On the whole, you'll earn on average 25btc/(current difficulty)*(share*difficulty at which share was submitted)*(1-fee), unless you're at a pool which pays proportionally (Slush's pool and DeepBit) where you'll earn a bit less due to pool hopping.

There's a bunch of information you might find handy at http://organofcorti.blogspot.com

I've seen similar comparisons, I'm just learning all the terms and math involved. Though, on a layman's term level, I'm looking for a rough estimate of bitcoin per 8 hours. Is this hard to determine with the randomness of the system, such as the luck factor? I would like to know this because I am planning on running my miner(s) when I am asleep (8 hours) or at work (8 hours). So that would be my real world shift. Right now, from the last week 50BTC was giving me somewhere around BTC.01-BTC.02 a real world shift (8 hours). This was done on my crossfire 2x Redwood 5xxx cards. I have a Radeon 7970 in the mail (finally an excuse to upgrade my 3 year old graphics cards). When that comes in the mail I want to have the perfect setup to mine. Thanks.

What's your current average hashrate (ccording to your mining software?

My rate usually goes between 180 and 270 due to my laptop being in use (adding hash rate), my wife playing WOW (lowering it a little), and me browsing the internet inbetween. So a good average would be 200.
donator
Activity: 2058
Merit: 1007
Poor impulse control.
January 27, 2013, 05:32:55 AM
#21
You know, there's a whole thread listing mining pools with hashrate, fees and other variables:

https://bitcointalksearch.org/topic/btc-mining-pools-list-104664

On the whole, you'll earn on average 25btc/(current difficulty)*(share*difficulty at which share was submitted)*(1-fee), unless you're at a pool which pays proportionally (Slush's pool and DeepBit) where you'll earn a bit less due to pool hopping.

There's a bunch of information you might find handy at http://organofcorti.blogspot.com

I've seen similar comparisons, I'm just learning all the terms and math involved. Though, on a layman's term level, I'm looking for a rough estimate of bitcoin per 8 hours. Is this hard to determine with the randomness of the system, such as the luck factor? I would like to know this because I am planning on running my miner(s) when I am asleep (8 hours) or at work (8 hours). So that would be my real world shift. Right now, from the last week 50BTC was giving me somewhere around BTC.01-BTC.02 a real world shift (8 hours). This was done on my crossfire 2x Redwood 5xxx cards. I have a Radeon 7970 in the mail (finally an excuse to upgrade my 3 year old graphics cards). When that comes in the mail I want to have the perfect setup to mine. Thanks.

What's your current average hashrate according to your mining software?
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 27, 2013, 05:14:06 AM
#20
You know, there's a whole thread listing mining pools with hashrate, fees and other variables:

https://bitcointalksearch.org/topic/btc-mining-pools-list-104664

On the whole, you'll earn on average 25btc/(current difficulty)*(share*difficulty at which share was submitted)*(1-fee), unless you're at a pool which pays proportionally (Slush's pool and DeepBit) where you'll earn a bit less due to pool hopping.

There's a bunch of information you might find handy at http://organofcorti.blogspot.com

I've seen similar comparisons, I'm just learning all the terms and math involved. Though, on a layman's term level, I'm looking for a rough estimate of bitcoin per 8 hours. Is this hard to determine with the randomness of the system, such as the luck factor? I would like to know this because I am planning on running my miner(s) when I am asleep (8 hours) or at work (8 hours). So that would be my real world shift. Right now, from the last week 50BTC was giving me somewhere around BTC.01-BTC.02 a real world shift (8 hours). This was done on my crossfire 2x Redwood 5xxx cards. I have a Radeon 7970 in the mail (finally an excuse to upgrade my 3 year old graphics cards). When that comes in the mail I want to have the perfect setup to mine. Thanks.
donator
Activity: 2058
Merit: 1007
Poor impulse control.
January 27, 2013, 04:46:00 AM
#19
You know, there's a whole thread listing mining pools with hashrate, fees and other variables:

https://bitcointalksearch.org/topic/btc-mining-pools-list-104664

On the whole, you'll earn on average 25btc/(current difficulty)*(share*difficulty at which share was submitted)*(1-fee), unless you're at a pool which pays proportionally (Slush's pool and DeepBit) where you'll earn a bit less due to pool hopping.

There's a bunch of information you might find handy at http://organofcorti.blogspot.com
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 27, 2013, 04:20:23 AM
#18
I don't know how I feel about this pool... I have let it run for about 3 hours (at work now) and it only shows 0.00248134 estimated, 0 confirmed... 0.00123154 estimated. So nothing is confirmed after 3 hours... I'm going to let this run for the full 8 hours I'm at work, one of my mining shifts, but if this isn't as good as 50BTC I'm going back to PPS, it's more consistant. Here is the math why this can't be faster than PPS in my mind.

After 3 hours, lets hypothesize this amount is even confirmed, I have 0.00248134.

24/3 = 8, if this ran 8 (3 hour) cycles I would make 0.00248134 X 8 = 0.01985072 a day...

That's less than .02 I was making about 0.04-0.06 a day not running 24/7 with 50BTC.

The namecoins are not worth much for exchange.

Is there some kind of bonus you make I don't know about that makes this worthwhile?

Any feedback from Slush Pool users would be helpful
newbie
Activity: 51
Merit: 0
January 27, 2013, 03:46:33 AM
#17
I have used my web hosting rig to pool mine with Deepbit and Slush for months at a time, for nice results. Payouts deviated less than 0.4% of my calculated expected earnings, which is negligible.

I have tried other pools, but I still prefer Deepbit and Slush.
newbie
Activity: 56
Merit: 0
January 26, 2013, 10:32:25 PM
#16
It's on the statistics page ( http://mining.bitcoin.cz/stats/ ), "total score of current round". Or you could just look at "estimated reward" on your account page, which does the math for you (Just remembered this; I haven't used Slush in awhile  Undecided )
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 26, 2013, 10:13:16 PM
#15
Sorry for the thousands of questions.

When does Slush give you namecoins, after a shift? and what exactly does the score number mean. for example my score right now is 66.8751?

The score is part of distributing the reward each round. The scoring scales exponentially, so shares later in a round are worth more than those near the start. The reward is simply ((Your score)/(Total pool score)*(25+(transaction fees)))

Ah, OK. how do you find the total pool score?
newbie
Activity: 56
Merit: 0
January 26, 2013, 10:07:59 PM
#14
Sorry for the thousands of questions.

When does Slush give you namecoins, after a shift? and what exactly does the score number mean. for example my score right now is 66.8751?

The score is part of distributing the reward each round. The scoring scales exponentially, so shares later in a round are worth more than those near the start. The reward is simply ((Your score)/(Total pool score)*(25+(transaction fees)))
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 26, 2013, 10:01:22 PM
#13
Sorry for the thousands of questions.

When does Slush give you namecoins, after a shift? and what exactly does the score number mean. for example my score right now is 66.8751?
newbie
Activity: 14
Merit: 0
January 26, 2013, 10:00:13 PM
#12
I'm trying this proxy thing out and it's working, but it keeps saying:

Statum from pool 0 requested work restart.

What does that mean?

Don't worry about it, it just means that the server is requesting bfg to process a new data set. Like saying "Hey man hold up I've got another thing for you here".

OK, sweet. Looks like it's working then. It's kind of gay that the minimum payout limit is BTC0.05 at Slush. 50BTC is BTC0.01. I don't think it really matters in the long run though. I can't figure out if there is a transfer fee from their website. Is there one, when you cash out?

I have no clue I haven't transferred anything yet.
full member
Activity: 126
Merit: 100
January 26, 2013, 09:55:01 PM
#11
Bitminter, is indeed pretty good.

Especially if you have a pretty okay rig
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 26, 2013, 09:52:26 PM
#10
I'm trying this proxy thing out and it's working, but it keeps saying:

Statum from pool 0 requested work restart.

What does that mean?

Don't worry about it, it just means that the server is requesting bfg to process a new data set. Like saying "Hey man hold up I've got another thing for you here".

OK, sweet. Looks like it's working then. It's kind of gay that the minimum payout limit is BTC0.05 at Slush. 50BTC is BTC0.01. I don't think it really matters in the long run though. I can't figure out if there is a transfer fee from their website. Is there one, when you cash out?
newbie
Activity: 14
Merit: 0
January 26, 2013, 09:47:30 PM
#9
I'm trying this proxy thing out and it's working, but it keeps saying:

Statum from pool 0 requested work restart.

What does that mean?

Don't worry about it, it just means that the server is requesting bfg to process a new data set. Like saying "Hey man hold up I've got another thing for you here".
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 26, 2013, 09:43:29 PM
#8
I'm trying this proxy thing out and it's working, but it keeps saying:

Statum from pool 0 requested work restart.

What does that mean?
full member
Activity: 219
Merit: 100
Ethics and Science need to shake hands
January 26, 2013, 09:36:33 PM
#7
+1 for Slush, the directions seem straight forward. Not sure about the casual style though
newbie
Activity: 14
Merit: 0
January 26, 2013, 09:34:23 PM
#6
I figured out this bfgminer and I think it had increased my mining by 20Mh! Will using this proxy method make it effect my web browsing while I mine?

No not at all, all it does is sniff port 8332 on the local host then when bfg miner connects to it, it connects to the server by the stratum protocol. It actually provides a minor increase in Mh/s as well.
full member
Activity: 154
Merit: 100
Don't dwell in the past, don't dream of the future
January 26, 2013, 09:32:14 PM
#5
I figured out this bfgminer and I think it had increased my mining by 20Mh! Will using this proxy method make it effect my web browsing while I mine?
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