What Is Mining And Mining Luck?
In this article, we explain mining luck for beginners and advanced miners alike. If you think that mining is only about solving some complicated math problems, then you are wrong. Miners play a guessing game. They are guessing all the time. How so? Is it possible that all this energy around the world is used for such nonsense? One of the most important parameters of any cryptocurrency network is block time, that is the time needed to find a new block. For Bitcoin, it is 10 minutes, while for Ethereum its 14 seconds. However, Bitcoin block may as well be found in 1 minute, or in 20 minutes. 10 minutes is the average block time (if lets say, we take 1000 blocks in a row). It means that every 14 seconds all Ethereum mining rigs get a new task (job) and try to find the solution for the new block by merely guessing. Its wrong to think that a specific rig or big mining pools spend a lot of time (hours or even days) trying to find a solution to one block the problem to solve is one and same for everyone, and it is changed every time a new block is found! Different mining algorithms are just different equations. Lets say; one algorithm is A + B = C, while another one is A x B = C. For each block you get constant A value, and you are also told that solution C is a number with 2 zeros at the end. So you are randomly going through B numbers until you find the right solution. Every cryptocurrency network decides on a one-to-one basis how many zeros number C must have at the end in the same way that the average time to find a block - block time stays within the range of allotted time. Example: N is a cryptocurrency network. You mine on your own. Block time is 1 minute. The network gives you a certain problem, the solution to which (number C) must have 2 zeros at the end. Your frien Continue reading >>
Eli5: Pool Luck Rate
Ok, so for a newbie in this mining pool buisness, this is what I would love to know: 3) What does it mean for a potential miner/invester in that pool? Further questions, if any, will be added below. 4) How often should a pool statistically find a block, or how long is the statistic time between each block? 5) How is a pool defined as unlucky/lucky? The money raised from these ads will be used to pay for improved forum software and other useful stuff. Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Ok, so for a newbie in this mining pool buisness, this is what I would love to know: 3) What does it mean for a potential miner/invester in that pool? Further questions, if any, will be added below. 1) mining is probabilistic in nature, if you find a block earlier than you statistically should on average you are lucky if it takes longer, you are unlucky 2) not possible to ELI5 - Cumulative Distribution Function requires advanced mathematics 3) nothing as it is random and unpredictable - though if it is continually unlucky perhaps you should avoid the pool Ok, so for a newbie in this mining pool buisness, this is what I would love to know: 3) What does it mean for a potential miner/invester in that pool? Further questions, if any, will be added below. 1) mining is probabilistic in nature, if you find a block earlier than you statistically should on average you are lucky if it takes longer, you are unlucky 2) not possible to ELI5 - Cumulative Distribution Function requires advanced mathematics 3) nothing as it is random and unpredictable - though if it is continually unlucky perhaps you should avoid the pool Many thanks for the great reply, already learned alot. 4) How often should a poo Continue reading >>
Ethpool Vs Ethermine
The costs of mining Ether can be very high, with electricity costs and the cost of setting up a mining rig that can process at the speed required. As the rewards of mining can be slow and intermittent, many miners choose to combine their hardware resources and create an ethereum mining pool , increasing the speed at which blocks are processed and the profits paid out. This post will focus on the two main pools,Ethpool vs Ethermine. For information on other pools, see our post on the top ethereum mining pools . Miners then share the rewards of the payout on proof of work. Ethereum is the fastest growing cryptocurrency, more than 2000% since its launch, in the market and Ethereum miners work for tokens called Ether. Payments to the miners can work on different principles and calculations, depending on the type of pool they have joined. Two of the biggest Ethereum mining pools are Ethpool and Ethermine, which run on the same platform and have combined process of more than 25% of the total network hashpower. However the manner in which the pools run, and the risks and rewards are quite different. Both pools run on a global network with servers based the United States, Europe and Singapore, which are fully redundant and run 24/7. Ethpool is a predictable solo mining pool and 100% of the proceeds are paid to the miner that contributed the most work. By using Ethpool you get the advantages of pooled mining with a solo mining payment scheme. Ethpool offer miners the ability to mine anonymously and supports all types of Ethereum miners. Full support is offered to miners, including those using Stratum protocol. There is a big reduction in variance so miners earn their payment as soon as their work is equal to the difficulty of the block. The site includes online mining statistic Continue reading >>
List Of Pools Ethereum Community Forum
I was looking for an updated list of pools and unfortunately I couldn't find any. So I decided to post the ones I know. Please share others I might have missed. 1. - 0.8% fees. Payouts released 2 times a day for balances higher than 0.5 ETH. 2. - 2% fees. Payouts released 4-6 times a day for balances higher than 1 ETH. 3. - 0% fees. Payouts released every 24 hours for balances higher than 1 ETH. 4. - Predictable Solo Mining pool. 0% fees. Payouts after 10 confirmations. More info on @dr_pra comments below. 5. - PPLNS 1% fees. Payouts released 2 times a day for balances higher than 0.1 ETH. 1. - 1% fees. Payouts are up to the miner (Manual or Automatic from 0.01 ETH). 2. - PPLNS 1 % fees. RBPPS 4% fees. Payouts are up to the miner (Manual from 0.1 ETH). 3. - 1% fees. 1. - Pool owner yet to reply either to @MrYukonC or myself about payout not been released for a couple of days. Awesome tool informed by @MrYukonC - . Good way to look for where to mine. Thank you guys for sharing the ones you know and thoughts you have about the ones I mentioned above. I'll update this list with more information you share on this thread. Continue reading >>
Ideal Bitcoin Mining Pool Luck Litecoin Android Mining
Ideal Bitcoin Mining Pool Luck Litecoin Android Mining Bitcoin Checker Medium Litecoin mining contract referral links. How does 'luck' affect solo miners? Larger mining pools typically offer more regular payments, lower processing fees, and higher rewards. Likewise, all moderators of this subreddit do follow the Modiquette. The minimum withdrawal amount is 0. Bixin is another mining pool that is based in China. It was the first Bitcoin mining pool and remains one of the most reliable and trusted pools, especially for beginners. So, all chance calculations aside, are you feeling lucky? I would expect a ration: The debate on the empty block topic has been argued for years since the early days. Buy Bitcoin In Vietnam Best Instant Ethereum recent controversy, Antpool remains the largest Bitcoin mining pool in terms of its Yahoo Finance Binance Lending On Poloniex Safe network hash rate. CPU is as you say, very useless. Don't use your CPU, use the electric bill your running up to go buy lottery tickets instead, better odds. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime. The US is home to 21 Inc. Pools can have a minor advantage if they're close together, but the miners connect through them instead of directly. Currently, every Bitcoin block has a Cloud mining is where you pay a service provider to miner for you and you get the rewards. Without miners, Bitcoin would be vulnerable and easy to attack. These days, finding the special number requires so much computational power that solo mining is like trying to win the lottery. Sign up to get your own personalized Reddit experience! Despite recent controversy, Antpool remains the largest Bitcoin mining pool in terms of its Bitcoin network hash rate. It is a public pool, but un Continue reading >>
What Is Pplns Give Me
First of all, if youre talking about PPLNS its important to understand how it works. PPLNS is short for Pay Per Last N Shares. The current proportional reward system is round based. One round is the time between the first share after the last found block and the share which solves a block. PPLNS however means that we no longer consider valid shares of one round, but we consider a number N of shares, no matter if theyre apart of the round or not. The number N is currently for each blockchain twice the difficulty (actually rounded down to an easy to calculate integer value). Let me illustrate PPLNS using the image below. One round has an arbitrary number of shares which is solely based on sheer luck. On proportional reward system only shares of one round are considered for calculating rewards. However with PPLNS, a quite constant number N of shares is considered for calculating rewards. This number N changes only with the difficulty. Please have a look at the image below: As you know the number of shares needed to solve a block within a round is different. Round one and three needed(difficulty * 2)shares to be solved. Round two and four are quite short rounds. There were less than(difficulty * 2)shares necessary to solve them. Round five however is a very long round which means the pool needed more than(difficulty * 2)shares to solve the block. From this follows that: Rounds one and three are like proportional rounds. All of your shares from the given round are considered for reward calculations For rounds two and four, shares from the previous rounds are considered for calculations as well (marked green). In other words: regardless of round boundaries we always consider the last(difficulty * 2)shares. Your portion of the amount of shares is used to calculate your reward Continue reading >>
How Does Varfee Work On Maxhash Ethereum Pool?
How does VARFEE work on MaxHash Ethereum pool? Simply put our new variable fee system (VARFEE) means that the pool only takes a fee when its performing well and finding blocks quickly for our miners.When the pool is performing average or below then you dont pay anything for our service. This means we have a mutual interest in miners getting more coins and higher earnings. We judge the performance and set the variable fee for the miners by using the variance percentage (sometimes called pool luck) over the last 16 blocks found by the pool. Variance percentage lower is better! When running at less than 100% the pool is finding blocks faster than average and each miner benefits from increased earnings produced by this better block finding performance.The pool is expected to find a block within 100% variance but through careful optimization of the pool software we aim to reduce it below 100%. More information on variance be found HERE Current average block variance percentage can be found on the POOL BLOCKS page of the website. The simple answer to this question you will get get more coins for your mining hash power. If the pool currently has 90% variance then each miner will get 10% more coins than expected during the period of x amount of blocks at 90% average variance. Miners have nothing to lose by switching to MaxHash! Worse case scenario is that we perform the same as every other pool and you will pay absolutely 0% pool fee and still have a chance every week of winning our unique JACKPOT reward system. You do not have to change or modify anything as a miner, other than just pointing your rig at our servers. Everything else is handled by our very clever back-end. Our unique VARFEE system is calculated by using this equation (100-variance*)/4 = VARFEE. *average varianc Continue reading >>
How Ethereum Mining Works
Today, miners play an important role in making sure ethereum works. This role isn't immediately obvious, though. Many new users think that the sole purpose of mining is to generate ethers in a way that doesn't require a central issuer (seeour guide" What is Ether? "). This is true. Ethereum's tokens are created through the process of mining at a rate of 5 ether per mined block. But mining also has another at least asimportant role. Usually, banks are in charge of keeping accurate records of transactions. They ensure that money isn't created out of thin air, and that users don't cheat and spend their money more than once. Blockchains, though, introduce an entirely new way of record-keeping, one where the entire network, rather than an intermediary, verifies transactions and adds them to the public ledger. Although a 'trustless' or 'trust-minimizing' monetary system is the goal, someone still needs to securethe financial records, ensuring that no one cheats. Mining is one innovation that makes decentralized record-keeping possible. Miners come to consensus about the transaction history while preventing fraud (notably the double spending of ethers) an interesting problem that hadnt been solved in decentralized currencies before proof-of-work blockchains. Although ethereum is looking into other methods of coming to consensus about the validity of transactions, mining currently holds the platform together. Today, ethereum's mining process is almost the same as bitcoins . For each block of transactions, miners use computers to repeatedly and very quickly guess answers to a puzzle until one of them wins. More specifically, the miners will run the blocks unique header metadata (including timestamp and software version) through a hash function (which will return a fixed-length, Continue reading >>
Wichtig - Pool-luck Beim Mining Beachten !
ich fhre in einem anderen Forum eine Unterhaltung zum Thema Mining-Pool Anbieter. Wo soll ich meine Hardware arbeiten lassen ? Da ich in verschiedenen Pools in der Mine arbeite hab ich hier eine wichtige Information fr alle Neueinsteiger. Achtet auch auf die Verteilmethode und das Pool-Luck, bevor Ihr zu minen beginnt. Hier einige Beispiele: Discus Fish zahlt nach PPS mit 4% Gebhr. Was bedeutet das ? Bei Pay-Per-Share erhlt jeder Teilnehmer unabhngig ob und wann ein Block gefunden wird, fr jeden eingereichten Share eine bestimmte Auszahlung. Diese setzt sich aus dem erwarteten Gewinn abzglich einer vom Mining-Pool einbehaltenen Gebhr zusammen. Teilnehmer knnen bei PPS ihre erwartete Auszahlung recht genau bestimmen, da sie anhand ihrer Hashrate abschtzen knnen, wie viele Shares sie finden werden. Oft wird diese Auszahlung, neben der Gebhr auf den Poolseiten in BTC per THs bekanntgegeben. PPS hat fr den Miner einige Vorteile, die fr den Mining-Pool Betreiber ein hheres Risiko bedeuten, weswegen es als Nachteil fr die Miner bei Mining-Pools mit PPS eine hhere Gebhr gibt. Es gibt keine Gefahr der Unterbezahlung aufgrund von anderen Teilnehmern durch Poolhopping. Das liegt daran, dass ein frhes Wechseln des Pools bevor ein Block gefunden wird, keine Auswirkungen auf den erwarteten Gewinn hat, da nur pro eingereichten Share bezahlt wird. Antpool oder BTC Guild zahlen nach PPLNS mit Gebhr (bei BTC Guild 2%) Pay-per-last-N-Shares (PPLNS) - Mining mit Glck Bei Pay-per-last-N-Share ist der Miningerfolg erheblich vom Pool-Luck geprgt. Ist der Pool im Glck gibt es mehr als normal, ist er im Pech gibt es weniger an Ausschttung. Man sollte sich deshalb die Pool-Luck Bilanz des Anbieters genau ansehen. Pool-Luck ist nicht planbar. Es gibt aber technische Fehler, die ein Betreiber ma Continue reading >>
Top 3 Luckiest Miners
Google defines luck as success or failure apparently brought by chance rather than through ones own actions, but in reality, luck will always need a pushing hand, and thats what we want to show you today: Good things come to those who waitGreater things come to those who are willing to work for it. These miners took their chances and got lucky. Thats the wonderful thing about Bitcoin, anyone can be a part of it, all you need is an internet connection! Are you ready to take your chance? 2 years ago, a miner known as BTC Phill bought his first Bitcoin ASIC miner, a usb block erupter (~330mh/s). He tried solo mining with it, despite the fact that it would take him 12 years to find a block. To his amazement, BTC Phill found a block six days after. Since then, he has bought more than 1TH/s worth of mining equipment, and hasnt found a block since. This is the block found by BTC Phill: click . Nowadays many users use old ASIC miners as lottery devices, knowing that they will probably never find a block. Stories like the one from BTC Phill will make you want to do the same. 2 Bitclub Mining operation received a 291.2409 BTC transaction fee In April 2016, the Bitclub Mining pool mined a block that contained a 291.2409 BTC tx fee for a 0.0001 BTC transaction. Most people agreed that the user meant to do the opposite and send a 0.0001 BTC fee to pay for a 291.2409 BTC transaction. Bitclub mined that block and tried to return it to the person who sent it, although no one came forward. Many believe the reason for that is that the funds might have been stolen, since they appear to have come from a mixing service. Bitclub also informed that if the funds remained unclaimed they would be donated to a charity. This is the block we are referring to: click . This next story doesnt really Continue reading >>
How Do Mining Pools Work? Is It Better Than Solo Mining?
How do Mining Pools Work? Is it Better Than Solo Mining? Admir Tulic October 24, 2017 420 no comments Lets start with the definition of pool mining: A Mining Pool is a protocol for a group of miners to work together, in order to smooth out their mined coins. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time. So, bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. The mining pool coordinates the workers. Its just like a lottery pool. Your odds of winning a lottery are very low, so you team up with a bunch of other people and agree to split the winning. This makes your odds of winning much higher, but the amount you win much lower. What a mining pool does is function as a coordinator for all the pool participants doing: Recording how much work all the participants are doing Assigning block rewards proportionally to participants Miners mine differently by running pool software instead of the bitcoin client and just performing hashes for the pool. The pool operator randomly verifies a small portion of the work submitted by each member of the pool. The member miners dont know which of their submissions will get verified so they cant cheat. If they cheat once in a while they might get away with it but not for long enough to matter. Traditionally, pools gave miners work units covering the entire nonce range 0-4,294,967,295. When the miner finishes work, he r Continue reading >>
Ethereum Mining Calculator And Profit Calculator
Ethereum Mining Calculator and Profit Calculator Warning: The coin daemon or block explorer is offline which may cause out dated estimated expected cryptocurrency earnings to be displayed. Days to generate one block mining solo: 177.94 Day(s) (can vary greatly depending on your luck) Days to generate one BTC: 1327.20 Day(s) (can vary greatly depending on the current exchange rates) Days to break even: N/A (can vary greatly depending on the current exchange rates) Estimated Expected Cryptocurrency Earnings The estimated expected cryptocurrency earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected cryptocurrency earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected cryptocurrency earnings can vary greatly depending on your luck and stale/reject/orphan rate. Continue reading >>
Ideal Bitcoin Mining Pool Luck Amd Firepro W9100 Ethereum Mining
Ideal Bitcoin Mining Pool Luck Amd Firepro W9100 Ethereum Mining Bitcoin mining radeon Bitcoin processing speed It is also a perfect gift for getting people knowing about Bitcoin and Bitcoin Elliptic Bitcoin Tracking Litecoin Average Transaction Time. In reality, you need to invest countless hours into researching the latest hardware setups and mining rings, and that's where CoinMiner's Mining Rigs come in. OpenCL on the gothe OpenCL logo are trademarks of Apple Inc So we look for inventive ways to evolve our family of workstation graphics cards to give you new ways of seeing your world at your desk in the cloud. Info is the question that this note explores: Firepro d bitcoin exchange Amd firepro s0 amd firepro s amd firepro s bitcoin will not tank long term due to asic s aud to bitcoin exchanges. This feature is not available right. I ve worked. Bitcoin mining vs dogecoin mining. Bitcoin miner calculator uk. You can buy and sell cryptocurrencies like Bitcoin or Monero at. Amd firepro d litecoin mining meilleur forum minecoin mineur comment configurer le portefeuille bitcoin historique des taux de bitcoin bitcoin trois transactions par seconde projections de prix litecoin. In just a few short years, bitcoin mining. Amd firepro d Bitcoin mining; erfahrungen mit Bitcoin mining; avalon Bitcoin mining company; Bitcoin cpu mining ubuntu Firepro v bitcoin exchange Firepro v bitcoin exchange. You might have some luck with mining some alt coins however but I m not certain I wouldn t bet on it. So you can imagine that, this card would be 60MH s. BitcoinThe world of Cryptocurrency Day Trading Calculator Ethereum Two Blocks Generated At The Same Time class graphics cards just got a lot more interesting. Com eXceed the Standards. To new mac pro owners has anyone done LTC mining. T Continue reading >>
Uncle Mining, An Ethereum Consensus Protocolflaw
Uncle Mining, an Ethereum Consensus ProtocolFlaw A year ago I was hired by Eth Dev Ltd through Coinspect to perform a security audit on the Ethereum design. One of our findings was that the uncle reward strategy in Ethereum was weird, and could lead to miners abusing the uncle rewards to almost triple the money supply. We discovered this problem because I had been working on the same problem for a long time, and posting in cryptocurrency mailing lists and in this blog about a variation of Nakamoto consensus protocol called DECOR+ , that is based on sharing block rewards between competing blocks. At that time I explained the flaw and suggested to limit the number of uncles to prevent an unbounded money supply function. I assumed the Ethereum core team would pick the DECOR+ protocol sooner or later, but Ethereum has now gone through several programmed hard-forks, and the problem still remains. Last week, and the night before a presentation of the RSK (a.k. Rootstock) smart-contract platform, I decided to explore the problem a little more, and I found to my surprise that the uncle mining strategy theoretically works in Ethereum at very low thresholds, and therefore the current Ethereum consensus protocol is certainly not incentive compatible. Uncle mining strategy consist of forcing you own blocks into uncles (blocks not in the best chain) in order to earn uncle rewards while preventing your blocks from contributing to the block difficulty adjustments. Uncle mining is a greedy strategy (or even it can be considered dishonest), as the greedy miners get monetary compensations while providing less of the expected service to the network: uncle mining does contribute to securing the network due to GHOST weighting, but does not contribute to increasing the network transaction p Continue reading >>
Ethereum Mining Pool Comparison The Best Ethereum Mining Pools
What is the best Ethereum mining pool? Once you build an Ethereum mining rig ,this is the next question youll want to know the answer to. The best Ethereummining pool should have the following characteristics: High Uptime You dont want to connect your rigs to an Ethereummining pool that is down and not making you money for an hour or two every day. Low Mining Fees Most pools charge 1-2% mining fees for their services. Anything more than that, and youre basically just giving away your hard earned ETH profits. Reasonable Minimum Payout This is especially important if you only have one mining rig, since you dont want your payout to take potentially a week or more of mining to arrive in your account. Most Ethereum mining pools payout when the mined amount accumulates up to 0.05 0.2 ETH. Ethereum Mining Reward System Without taking too much of a deep dive into the technical side, the Ethereum mining reward system utilized by a mining pool falls into two basic methods: PPLNS and PPS. 1. PPS stands for Pay Per Share. This means that every share you mine has a specific value to the Ethereummining network and thats what you get paid during the pools payout. If you mine off and on (or your WiFi drops in and out) over any given period of time, this is the payment type you want. 2. PPLNS stands for Pay Per Last n Shares. This is more of a variable number based on the luck of the pool. So, if the pool gets lucky and mines more blocks in a given timeframe, youll get a bigger payout. Of course, if the mining pool is unlucky, youll get less of a payout. If youre mining 24/7 and dont drop connection frequently, youll get roughly 4% more ETH using PPLNS vs PPS for Ethereum mining. Does the Ethereum Mining Pool pay Uncles? And furthermore, what is an Ethereum Mining Uncle? No, we arent t Continue reading >>