Next block..

edited March 2014 in Bitcoin

Is anyone else concerned over the block time? It's all but a month until the last block was found, can't we do something??

Comments

  • We need more miners.

    Network hashrate as almost double in 1 month and pool is approximately at the same speed.

     
  • We need some sort of publicity campaign!

  • Yea, we don't have a chance, may have to move to get paid before the miners are worthless.

  • If what khaos is saying is correct, mining on this pool is worse than futile at best. The worse it is the less miners, the less miners the worse it is and so it goes round....network difficulty gets harder etc etc.... my advice cut your losses now, i did and in the space of 1 week have already made more btc elsewhere than i would have received from here if i had have remained.If you also look through btc posts there are also those who believe the figures for miners/ shares/ dividend ..do not add up!

  • Mining here on bitcoins has been very uneventful because of the long time pay out. So far it shows I may make 1/3 as much from here once a block is found compared to other pools like btcguild and eclipsemc. And I have had my miners running on a 30 minute rotate between all three to see which was gaining the most. The pplns on this pool only benefits long term miners that are willing to wait for a block and payout, where as the other pools still using pps pay out more often to the point it is exceeding what this pools payout will be by almost 4 times as much..

    Now i dont have much toward miners at this moment, but even with my low rate this pools possible payout is small compared to the other two.

    I only have it rotate back here still to make sure that I have shares listed when ever a block is finally found here to see what payout I may end up with. If smaller than the other two it will not be worth continuing to mine here for btc.. the alt coins here are doing ok though.

  • That's it Drakona, the longer the wait, the harder the difficulty, the harder the difficulty the longer the wait.... Round and round again.... Only to get worse... See my previous post about dwindling miner numbers .

  • I did see your post and I do agree with it and that is sort of sad really. But such goes for different pools, not enough miners to keep the pool going enough to make it worth enough for more miners to stay or come here. I will keep mine rotating back here until I get enough to pay out and at that point, probably remove here from the mining pool list for bitcoins.

    the other coins are not doing so bad even for just cpu mining being a new miner. then again this was one of those lets try and see how it goes ventures. if it turns out not be worth it in the long run can allways sell my miner stuff on amazon or ebay.

  • I agree it's frustrating to wait for a block several weeks.

    But I don't think you'll get less BTC here, than at an other pool. There are much bigger pools, which have far bigger hash rate and therefore they are cracking blocks in hours instead of weeks for this pool. But you get there far smaller reward than here. It's balanced in long run.
    E.g. I was mining few months ago at Slush's pool, he was cracking block in average every two hours. From time to time, there was 16h block and everybody was like: "OMG! something is wrong! Fix it!" And then there were blocks solved literaly in seconds. Nobody was complaining about fast blocks.
    This is the way BTC mining works. Choose big pool for frequent more steady micro rewards, or choose small pool with unregular big rewards. In long run it's the same. With two differences, you don't have much big pools without fees and small pool is less likely to be a target of DDoS or other attack.
    Look into history of blocks on this pool, there were fast blocks, I'm sure after this "bad" block we will have soon one or maybe more fast blocks.
  • If what your saying about Slush's pool is true, you have to ask yourself taking into consideration difficulty/ hashrate / number of miners, how much more difficult it will be to find a block on this pool giving these three factors, just look back over last blocks, you can see a huge  increase in time tbetween blocks, potentially you could be mining here for months before a small return, when you consider what you have spent on electricity......as Khaos said "We need more miners.

    Network hashrate as almost double in 1 month and pool is approximately at the same speed." and the you can read my posts above as to how difficult this will be as time presses on.
  • You are trying to analyze random process. Number of shares which you need to solve a block is random. Difficulty means only what is average number of shares you need to solve a block in long run.

    If I take Slush example again. Block took 16h instead of average 2h. That means it took 8 times more time. If we estimate, that hashrate was constant whole time, it took 8 times more shares that was difficulty.
    We have ~11,5Gshares right now, we started with this block at difficulty 3,8G I think. So if we are unluck like at Slush's pool, it would take we wold need 30,4Gshares to solve this block. (Or even more if we take rising difficulty in calculation) Let's hope this won't happen, but it is perfectly possible.
    More miners means we mine faster, so we reach e.g. 30,4Gshares faster, but reward would be lower as well, since we need to pay extra mines as well.
    What I'm trying to say, that number of miners on a pool or hashrate of a poll have no effect on your rewards in long run.
    If you want more regular rewards, you need to switch to pool with higher hash rate and pay fees. But I'm staying here, waiting for my juicy fast blocks. :)
  • The question is how long for?   Good Luck.

  • :) You  still don\t understand. That's cute.

    Answer is noone knows.
    I advise you to study how bitcoin mining works.
  • edited March 2014

    95% isnt about luck, maybe when you realize there comes a point when it becomes unviable to mine where the odds are stacked against you. But hey thats your perogative...Maybe from what your saying.....less is more....you would be better off mining on your own.

  • Wheter mining is viable or not is completely another matter.
    Whole mining is about probability (we can call it luck). You never know how many shares you need to solve a block.
    How can odds be against you? You get as big reward as big your submitted number of shares compared to other miners is...
    I'm not saying solo mining is best. I'm not even saying this poll is best. Not for everyone is best the same.
    I just said that you get aproximately same reward at any pool and I'll stay here because I like this pool.
  • edited March 2014

    if you guys want to stay on the pool the PPC pool is now up and running

  • edited April 2014

    .

  • edited March 2014

    ppc.give-me-coins.com:3338 should be in getting started etc etc :)

  • I look at it this way. 30 days without a payout, payout expected to be less that .5 coins. Moving to a big pool, nets about 30-40 a day, my estimated reward will be less than the ten days at another pool. Its not really about the random and longevity, every 11 days that random luck, gets about 15% worse.

    I jumped ship, already have 50% of my estimated pay that is still floating here. Hopefully we do mine another block. In the mean I'll rotate a miner here, without a substantial portion of the block here though, you have very little to win without a payout in 30 days.

    To each his own, once I get my next shipment in, I'll probably mine here, I like this pool, the features and the size.

    Happy Mining

  • at the rate for electricity, it was not worth mining for nothing, potentially forever, here

  • Sadly i had to move my miners away.  Someone needs to do a marketing campaign or something and get some hashing power migrated over here.

  • There is something wrong with this pool. The pool goes offline TWICE during this round. Coincidence? And the fact that we havent found a block after 1.3 BILLION shares? The admin is doing something... I'm sure of it... 


    Waiting for the day that he gets caught.
    And now,I'm off to Eligius pool
  • edited April 2014

    think somebody cant read previous posts where its explained that 11th against 54 ph its going to be almost impossibel to find a block.

    We cant be held responsible for internet problems....... pool hashrate chart doesnt have any huge gaps in it as far as i can see besides miners leaving and comming back/joining. Its all been explained in this thread.
    if you would like to speak to us like adults you will find that we have nothing to hide and the technical details behind pool mining and or mining in general apply to this situation.

  • Whatever the reason, its being well talked about over at bitcointalk forum.

  • I think we need to evaluate the BTC pool. its clear that we do not and will not have the hashrate to find blocks at a decent timeframe and i see to much negativity both here in our own forums and elsewhere according to bbfn2001.

    It seems to be mainly those who do not understand how things work but accusing the pool of stealing or hiding coins or whatever other random things people want to dream up is not what any of us want to see especially after all the work we put into this site and community.

  • I still have my measily 1.6 rotate back here but I have it rotate to other places too and have allready had confirmed rewards equal to twice as what I will get here. One good thing about here is the PPC is not too bad. Just sort of hate moving my miner off btc even though would not be a big loss compared to others that have higher rates than me. Still would be about a months time wasted though to give up completely. So letting it continue to rotate here for when ever this pool does get lucky enough to get a block again. to stubborn to just give up completely on it yet.

  • Just joined the pool and am waiting for this block to finish. And then will start to mine here.

    But i just saw a comment here that made me laugh.
    aklf complained about 1.3billion shares, currently it is 14billion..

    Another Pool i'm currently mining for shortly had a block with 21,058,122,170 shares before finding a block.
    So it is not very likely to need so many shares ... but it is not impossible. That's the problem when playing with odds ..

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