Dunno but it sucks

I've been on Bitminter since November of 2013

I remember when the pool hit 200 TH. In January it got to 350th/s, and server crashed for half a day.
By the time it came back online, almost half of the people moved to other pools. So it was 200th/s again.

Soon it ballooned to 400, then quickly to 600, and 1,000 TH. Just recently the pool had 1,600 TH/s processing power.

3 weeks ago the string of bad luck happened, followed by some very long chains. I was thinking: one more 99-percenter, got to be followed
by few 10-15% chains, right? But it did not happen.

In August I've made 55% of BTCs I should have made by mining on Bitminter. A half.

Difficulty keeps climbing. We had one stale chain that cost us a day. Pool is at 1k. We have lost 37% of the processing power (from 1.6k we had)

I like Bitminter but I think this pool is in trouble.

freddyfarnsworth

I have done just that. For the past 10 days or so I run 8TH here and 8TH elsewhere.

Look at this:

http://home.comcast.net/~bacanj/btc/BAD.jpg

There is another pool out there with ~12,000TH that solves a chain every hour or so, on average. The payout is less, but it is distributed.
For them a bad chain is 3 hours long.

Right now on Bitminter and with current difficulty to computing power ratio easy chains, let's say 15-20 hrs, are awesome.

However, 84 hours to solve ONE chain? Or 77 & 74 hour chains one after the other? You don't make enough to cover electricity costs.

Bitminter becomes kind of a lottery now. Easy chain: you make a killing, anything more it turns into disaster.

Also the 3% fee is 33% higher than other pools with the same perks.

Why do you need the shifts filled? Each proof of work in a shift is paid the same amount. The pay per proof of work is not affected by how much you mine in a shift or how many shifts you mine. All work is paid the same fair way. It's easy to get tricked by the payout per block to think you get bad pay until you mined 10 shifts. But this is incorrect.

That said, I am thinking of reducing the length of each shift.

The problem is that there are two psychological issues with shift lengths. The one above is what you get with long shifts. With short shifts you increase the chance of a shift with zero pay. Seeing a shift with zero pay triggers some very strong reactions with some people - even to the extent of claiming they got ripped off and leaving the pool. In reality it's just a little more variance. High paying and zero paying shifts even each other out just the same way shifts with high payouts and tiny payouts do.

Then there are the real issues of shift length: how long does it take from I do some work until I get paid, and how is the short-term variance affected? But in reality I think the two perceived issues above are more important than these two real issues. If people perceive them to be important and real problems, then that's what they become.

We have to strike a balance between long and short shifts. Currently the work in 10 shifts equal 4x difficulty. Should we go to 2x diff or 1x diff?


Cheaper perks are coming soon.

Dear Doc

Nothing is wrong with the pool.
the time to change the rules is when we at 0.45 (organofcorti s blog) luck index.
Yes its true: We can dive to 3.9 at the very same index.

But this is basic knowledge and no reason to change.

Dont get nervous.

joerg

PS anybody interested in a 570GH KNC Jupiter october batch in the EU for 1.5 BTC ?

what do you think its worth? I sell it for 1.2 BTC or probably its the best to heat my living room with it.
better suggestions welcome.
difficulty will soon go up
Joerg

Yes, the more work you do the more you get paid. But the pay for each proof of work is the same. There's no bonus for doing lots of work, or punishment for doing little work.

Again ......you also have to account for Difficulty every 12 days. When you get 3 or 4 blocks in 12 days. You can NEVER make that up.
Do the math. Good luck or bad luck. you can't go back in time.

is this normal?  My HW is a 0 on my antminr s1.  My other are far higher.
https://scontent-a-ord.xx.fbcdn.net/hphotos-xfp1/t31.0-8/10339198_10152001796979229_7891836767182734861_o.jpg