Many are familiar with the litany of misconceptions being used to make small blocks seem reasonable in Bitcoin. Under the current censorship regime they seem to multiply like vermin, so it bears squashing one now and again with cold hard facts to help keep you sane. Here's squashing another: There are no small miners anymore
At least, not in the way you think.
One complaint I've heard over and over is "what about the costs bigger blocks will have on small miners? Won't that cause centralization pressure in mining?"
The thinking here is: were bitcoin to grow wildly successful with a big-block growth policy, eventually the computers that run the miner's node will start to be as expensive as the miners they're running. Large node costs favor larger miners because they're amortized over a larger hashrate. Eventually, it will be so expensive that you'll have just one miner in one datacenter and then bitcoin is no better than PayPal (that old refrain).
To small blockers, this great evil was made even more apparent Craig_S_Wright
dropped his "$20,000 computer to run bitcoin" comment. How could anybody afford $20,000? That's so much money!
Like most arguments for small blocks, it all sounds logical until you actually look at the numbers involved. Solo vs. Pool Mining
You don't solo mine unless you have enough hashpower to overcome block volatility. Solo mining is the most hair-raising experience. Are your miners working? Are they solving hashes? What if you get orphaned? Is your node down? Is someone attacking you? Where are the blocks today? Can I solve enough blocks this week to pay my electric bill? Etc. etc.
Its much less hair raising the more hashpower you have. At around 5% of the network hashpower you're mining 7.2 blocks a day - a healthy cadence that keeps you sane, and can help you spot trouble where your automated systems might miss it.
If you have less than 1% of the hashpower, you're almost certainly pool mining: otherwise the volatility is just too much. You connect to the pool of your choice over stratum, and mine together with others. You aren't running a full network node to do this (the pool you choose takes a portion of the reward to run one on your behalf).
So the "small" miners who might be hurt by larger blocks run between 1% and 5% of the network. Any smaller than that and they're pool mining, any larger and they're not a small miner anymore.
How much might bigger blocks harm small miners? How much does $20,000 (our worst-case scenario) compare to their other costs and capital outlays? If we found it was some large percentage, say 5%, or even 1%, there's a reasonable argument to be made that big blocks disproportionately harm small miners, and we should take these arguments seriously.
How much does it actually cost to buy enough equipment to own 1% of the bitcoin hashrate? $21,000,000
That's right. Twenty One Million Dollars. Do the math yourself: an Antminer S9 costs $3,600 today (less if you wait, but the hashrate is growing) and you need about 6,100 of them to own 1% of the bitcoin network (this number is growing daily).
That's just the miners! You also need a building, cooling fans, 8MW worth of utility transformers, cable, labor to install everything, circuit breakers, etc. etc. etc.
Remember that crazy $20,000 worst-case node that seemed insanely expensive?
$20,000 is a rounding error
in comparison with $21,000,000. It's literally less that 0.1%. Even a $20,000 node wouldn't measurably increase a small miner's costs
How does this cost compare to some other costs a "small" miner might encounter?
If you've bought $21M of equipment from China, you could easily spend more than $20,000 fat-fingering the customs forms. With that much hashrate on the line you lose $20,000 for every 5 hours
your miners are delayed in shipping (or installation, or turn-on, or whatever). Takes an extra day to install the last 20% of your miners? That just cost you $20,000 right there. Forgot to buy spare power supplies and 1% of the ones you had failed? Probably cost you more than $20,000.
The numbers you're dealing with here as even a "small" miner are just huge.
Which just goes to show: There's no such thing as a small miner anymore
At lease not one that would be impacted by larger blocks. What about small pools, eh? Wouldn't they face centralization pressure?
The same economics works for pools as it does for miners. Pools with less than 5% of the hashrate struggle with volatility just like small solo miners.
If you're running a pool that's handling 1% of the network's hashrate, you have $3,000,000 a month worth of BTC flowing through that place. The lease on a $20,000 computer is what, $1,000 a month? That's 0.03% of your revenue. Almost anything you do will effect your pool's profitability more than that. Conclusion
So if you're like me and aren't convinced that cost increase numbers like 0.1% and 0.03% represent measurable centralization pressure, take solace in knowing that you're not alone in finding that whole class of arguments ridiculous.
Indeed, those of use who aren't innumerate agree with you.
When it comes to Bitcoin (BTC) mining, the major questions on people’s minds are “how profitable is Bitcoin mining” and “how long would it take to mine one Bitcoin?” To answer these questions, we need to take an in-depth look at the current state of the Bitcoin mining industry — and how it has changed — over the last several years.
Bitcoin mining is, essentially, the process of participating in Bitcoin’s underlying security mechanism — known as proof-of-work — to help secure the Bitcoin blockchain. In return, participants receive compensation in bitcoins (BTC).
When you participate in Bitcoin mining, you are essentially searching for blocks by crunching complex cryptographic challenges using your mining hardware. Once a block is discovered, new transactions are recorded and verified within the block and the block discoverer receives the block rewards — currently set at 12.5 BTC — as well as the transactions fees for the transactions included within the block.
Once the maximum supply of 21 million Bitcoins has been mined, no further Bitcoins will ever come into existence. This property makes Bitcoin deflationary, something which many argue will inevitably increase the value of each Bitcoin unit as it becomes more scarce due to increased global adoption.
The limited supply of Bitcoin is also one of the reasons why Bitcoin mining has become so popular. In previous years, Bitcoin mining proved to be a lucrative investment option — netting miners with several fold returns on their investment with relatively little effort.
bitcoin mining hardware
The mining hardware you choose will mostly depend on your circumstances — in terms of budget, location and electricity costs. Since the amount of hashing power you can dedicate to the mining process is directly correlated with how much Bitcoin you will mine per day, it is wise to ensure your hardware is still competitive in 2019.
Bitcoin uses SHA256 as its mining algorithm. Because of this, only hardware compatible with this algorithm can be used to mine Bitcoin. Although it is technically possible to mine Bitcoin on your current computer hardware — using your CPU or GPU — this will almost certainly not generate a positive return on your investment and you may end up damaging your device.
The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. These are specially-designed machines that offer much higher performance per watt than typical computers and have been an absolutely essential purchase for anybody looking to get into Bitcoin mining since the first Avalon ASICs were shipped in 2013.
When it comes to selecting Bitcoin mining hardware, there are several main parameters to consider — though the importance of each of these may vary based on personal circumstances and budget.
Performance per Watt
When it comes to Bitcoin mining, performance per watt is a measure of how many gigahashes per watt a machine is capable of and is, hence, a simple measure of its efficiency. Since electricity costs are likely to be one of the largest expenses when mining Bitcoin, it is usually a good idea to ensure that you are getting good performance per watt out of your hardware.
Ideally, your mining hardware would be highly efficient, allowing it to mine Bitcoin with lower energy requirements — though this will need to be balanced with acquisition costs, as often the most efficient hardware is also the most expensive. This means it may take longer to see a return on investment.
In countries with cheap electricity, performance per watt is often less of a concern than acquisition costs and price-performance ratio. In most countries, operating outdated mining hardware is typically cost prohibitive, as energy costs outweigh the income generated by the mining equipment.
However, this may not be the case for those operating in countries with extremely cheap electricity — such as Kuwait and Venezuela — as even older equipment can still be profitable. Similarly, miners with a free energy surplus, such as from wind or solar electric generators, can benefit from the minimal gains offered by still running outdated hardware.
The lifetime of mining hardware also plays a critical role in determining how profitable your mining venture will be. It’s always a good idea to do whatever possible to ensure it runs as smoothly as possible.
Since mining equipment tends to run at a full (or almost full) load for extended periods, they also tend to break down and fail more frequently than most electronics — which can seriously damage your profitability. Equipment failure is even more common when purchasing second-hand equipment. Since warranty claims are often challenging, it can often take a long time to receive a warranty replacement.
In many cases, one of the major criteria used to select mining hardware is the price-performance ratio — a measure of how much performance a machine outputs per unit price. In the case of cryptocurrency mining hardware, this is commonly expressed as gigahashes per dollar or GH/$.
Under ideal circumstances, the mining hardware would have a high price-performance ratio, ensuring you get a lot of bang for your buck. However, this must also be considered in combination with the acquisition costs and the expected lifetime of the machine — since the absolute most powerful machines are not always the cheapest or the most energy efficient.
Acquisition costs are almost always the biggest barrier to entry for most Bitcoin miners since most top-end mining hardware costs several thousand dollars. This problem is further compounded by the fact that many hardware manufacturers offer discounts for bulk purchases, allowing those with deeper pockets to achieve a better price-performance ratio.
Acquisition costs include all the costs involved in purchasing any mining equipment, including hardware costs, shipping costs, import duties, and any further costs. For example, many ASIC miners do not include a power supply — which can be another considerable expense, since the 1,000W+ power supplies usually required tend to cost several hundred dollars alone.
Ensuring your equipment runs smoothly can also add in additional costs, such as cooling and maintenance expenses. In addition, some miners may want to invest in uninterruptible power supplies to ensure their hardware keeps running — even if the power fails temporarily.
Current Generation Hardware
One of the most recent additions to the Bitcoin mining hardware market is the Ebang Ebit E11++, which was released in October 2018. Using a 10nm fabrication process for its processors, the Ebit E11++ is able to achieve one of the highest hash rates on the market at 44TH/s.
In terms of efficiency, the Ebang Ebit E11++ is arguably the best on the market, offering 44TH/s of hash rate while drawing just 1,980W of power, offering 22.2GH/W performance. However, as of writing, the Ebang Ebit E11++ is out of stock until March 31, 2019 — while its price of $2,024 (excluding shipping) may make it prohibitively expensive for those first getting involved with Bitcoin mining.
Another popular choice is the ASICminer 8 Nano, a machine released in October 2018 that offers 44TH/s for $3,900 excluding shipping. The ASICminer 8 Nano draws 2,100W of power, giving it an efficiency of almost 21GH/W — slightly lower than the Ebit E11++ while costing almost double the price. However, unlike the E11++, the 8 Nano is actually in stock and available to purchase.
ASICminer also offers the 8 Nano Pro, a machine launched in mid-2018 that offers 80 TH/s of hash rate for $9,500 (excluding shipping). However, unlike the Ebit E11++ and 8 Nano, the minimum order quantity for the 8 Nano Pro is curiously set at five, meaning you will need to lay out a minimum of $47,500 in order to actually get your hands on one (or five).
While the 8 Nano Pro doesn’t offer the same performance per watt as the Ebit E11+ or AICMiner 8 Nano, it is one of the quieter miners on this list, making it more suitable for a home or office environment. That being said, the ASICminer 8 Nano Pro is easily the most expensive miner per TH on this list — costing a whopping $118.75/TH, compared to the $46/TH offered by the E11++ and $88.64 offered by the 8 Nano.
The latest hardware on this list is the Innosilicon T3 43T, which is currently available for pre-order at $2,279, and estimated to ship in March 2019. Offering 43TH/s of performance at 2,100W, the T3 43T comes in at an efficiency of 20.4GH/W, which is around 10 percent less energy efficient than the Ebit E11++.
The T3 43T also has a minimum order quantity of three units, making the minimum acquisition cost $6837 + shipping for preorders. All in all, the T3 43T is more costly and less efficient than the E11++ but may arrive slightly earlier since Ebang will not ship the E11++ units until at least end March 29, 2019.
Finally, this list would not be complete without including Bitmain’s latest offering, the Antminer S15-28TH/s, which — as its name suggests — offers 28TH/s of hash power while drawing just under 1600W at the wall. The Antminer S15 is one of the only SHA256 miners to use 7nm processors, making it somewhat smaller than some of the other devices on this list.
Like most pieces of top-end Bitcoin mining hardware, the Antminer S15 27TH/s model is currently sold out, with current orders not shipping until mid-February 2019. However, the S15 is offered at a significantly lower price than many of its competitors at just $1020 (excluding shipping), with no minimum quantity restriction. At these rates, the Antminer comes in at just $37.78/TH — though its energy efficiency is a much less impressive 17.5GH/W.
Mining Hardware Mining Hardware Comparison
Performance (GH/W) Price Performance Ratio ($/TH)
Ebang Ebit E11++ 22.2GH/W $46/TH
ASICminer 8 Nano 21GH/W $88.64/TH
ASICminer 8 Nano Pro 19GH/W $118.75/TH
Innosilicon T3 43T 20.4GH/W $53/TH
Antminer S15-28TH/s 17.5GH/W $37.78/TH
How To Select a Good Mining Pool
Mining pools are platforms that allow miners to pool their resources together to achieve a higher collective hash rate — which, in turn, allows the collective to mine more blocks than they would be able to achieve alone.
Typically, these mining pools will distribute block rewards to contributing miners based on the proportion of the hash rate they supply. If a pool contributing a total of 20 TH/s of hash rate successfully mines the next block, a user responsible for 10 percent of this hash rate will receive 10 percent of the 12.5 BTC reward.
Pools essentially allow smaller miners to compete with large private mining organizations by ensuring that the collective hash rate is high enough to successfully mine blocks on regular basis. Without operating through a mining pool, many miners would be unlikely to discover any blocks at all — due to only contributing a tiny fraction of the overall Bitcoin hash rate.
While it is quite possible to be successful mining without a pool, this typically requires an extremely large mining operation and is usually not recommended — unless you have enough hash rate to mine blocks on a regular basis.
Although it is technically possible to discover blocks mining solo and keep the entire 12.5 BTC reward for yourself, the odds of this actually occurring are practically zero — making pool collaboration practically the only way to compete in 2019 and beyond.
Selecting the best pool for you can be a challenging job since the vast majority of pools are quite similar and offer similar features and comparable fees. Because of this, we have broken down the qualities you should be looking for in a new pool into four categories; reputation, hash rate, pool fees, and usability/features:
The reputation of a pool is one of the most important factors in selecting the pool that is best for you. Well-reputed pools will tend to be much larger than newer or less well-established pools since few pools with a poor reputation can stand the test of time.
Well-reputed pools also tend to be more transparent about their operation, many of which provide tools to ensure that each user is getting the correct reward based on the hash rate contributed. By using only pools with a great reputation, you also ensure your hash rate is not being used for nefarious purposes — such as powering a 51 percent attack.
When comparing a list of pools that appear suitable for you, it is a wise move to read their user reviews before making your choice — ensuring you don’t end up mining at a pool that steals your hard-fought earnings.
When it comes to mining Bitcoin, the probability of discovering the next block is directly related to the amount of hashing power you contribute to the network. Because of this, one of the major features you should be considering when selecting your pool is its total hash rate — which is often closely related to the proportion of new blocks mined by the pool
Since the total hash rate of a pool is directly related to how quickly it discovers new blocks, this means the largest pools tend to discover a relative majority of blocks — leading to more regular rewards. However, the very largest pools also tend the have higher fees but often make up for this with sheer success and additional features.
Sometimes, some of the largest pools have a minimum hash rate requirement ù leaving some of the smaller miners left out of the loop. Although smaller pools typically have more relaxed requirements with reduced performance thresholds, these pools may be only slightly more profitable than mining solo.
When choosing a suitable pool, typically one of the major considerations is its fees. Typically, most pools will charge a small fee that is deducted from your earnings and is usually around 1-2 percent — but sometimes slightly lower or higher.
There are also pools that offer 0 percent fees. However, these are often much smaller than the major pools and tend to make their money in a different way — such as through monthly subscriptions or donations.
Ideally, you will choose the pool that offers the best balance of fees to other features. Usually, the pool with the absolute lowest fees is not the best choice. Additionally, pools with the lowest fees often have the highest withdrawal minimums — making pool hopping uneconomical for most.
Usability and Features
When first starting out with Bitcoin mining, learning how to set up a pool and navigating through the settings can be a challenge. Because of this, several pools target their services to newer users by offering a simple to navigate user interface and providing detailed learning resources and prompt customer support.
However, for more experienced miners, simple pools don’t tend to offer a variety of features needed to maximize profitability. For example, although many mining pools focus their entire hash rate towards mining a single cryptocurrency, some are large enough to offer additional options — allowing users to mine other SHA256 coins such as Bitcoin Cash (BCH) or Fantom if they choose.
These pools are technically more challenging to use and mostly designed for those familiar with mining, happy to hop from coin to coin mining whichever is most profitable at the time. There are even some exchanges that automatically direct their combined hash rate at the most profitable cryptocurrency — taking the guesswork out of the equation.
bitcoin mining pool
Best Mining Pools for 2019
The Bitcoin mining pool industry has a large number of players, but the vast majority of the Bitcoin hash rate is concentrated within just a few pools. Currently, there are dozens of suitable pools to choose from — but we have selected just a few of the best to help get you started on your journey.
Slushpool was the first Bitcoin mining pool released, being launched way back in 2010 under the name “Bitcoin Pooled Mining Server.” Since then, Slushpool has grown into one of the most popular pools around — currently accounting for just under 10 percent of the total Bitcoin hash rate.
Although Slushpool isn’t one of the very largest pools, it does offer a newbie-friendly interface alongside more advanced features for those that need them. The pool has moderately high fees of 2 percent but offers servers in several countries — including the U.S., Europe, China, and Japan — giving it a good balance of fees to features. BTC.com
is another potential candidate for your pool and currently stands as the largest public Bitcoin mining pool. It is responsible for mining around 17 percent of new blocks. Being the largest public mining pool provides users with a sense of security, ensuring blocks are mined regularly and a stable income is made.
Image courtesy of Blockchain.info
is owned by Bitmain, a company that manufacturers mining hardware, and charges a 1.5 percent fees — placing it squarely in the middle-tier in terms of fees. Unlike other platforms, BTC.com
uses its own payment structure known as FPPS (Full Pay Per Share), which means miners also receive a share of the transaction fees included within mined blocks — making it slightly more profitable than standard payment per share (PPS) pools.
Another great option is Antpool, a mining pool that supports mining services for 10 different cryptocurrencies, including Bitcoin, Litecoin (LTC) and Ethereum (ETH). AntPool frequently trades places with BTC.com
as the largest Bitcoin mining pool. However, as of this writing, it occupies the title of the third-largest public mining pool.
What sets Antpool apart from other pools is the ability to choose your own fee system — including PPS, PPS+, and PPLNS. If you choose PPLNS, using Antpool is free but you will not receive any transaction fees from any blocks mined. Antpool also offers regular payouts and has a low minimum payout of just 0.001 BTC, making it suitable for smaller miners.
Last on the list of the best Bitcoin mining pools in 2019 is the Bitcoin.com
mining pool. Although this is one of the smaller pools available, the Bitcoin.com
pool has some redeeming features that make it worth a look. It offers mining contracts, allowing you to test out Bitcoin mining before investing in mining equipment of your own. According to Bitcoin.com, they are the highest paying Pay Per Share (PPS) pool in the world, offering up to 98 percent block rewards as well as automatic switching between BTC and BCH mining to optimize profitability.
While your mining hardware is most important when it comes to how much BTC you can earn when mining, your electricity costs are usually the largest additional expense. With electricity costs often varying dramatically between countries, ensuring you are on the best cost-per-KWh plan available will help to keep costs down when mining.
Most commonly, large mining operations will be set up in countries where electricity costs are the lowest — such as Iceland, India, and Ukraine. Since China has one of the lowest energy costs in the world, it was previously the epicenter of Bitcoin mining. However, since the government began cracking down on cryptocurrencies, it has largely fallen out of favor with miners.
Technically, Venezuela is one of the cheapest countries in the world in terms of electricity, with the government heavily subsidizing these energy costs — while Bitcoin offers an escape from the hyperinflation suffered by the Venezuelan bolivar. Despite this, importing mining hardware into the country is a costly endeavor, making it impractical for many people.
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term.
if you are looking to buy bitcoin mining equipment here is some links:
Model Antminer S17 Pro (56Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 56Th/s for a power consumption of 2385W. https://miningwholesale.eu/product/bitmain-antminer-s17-pro-56th-copy/?wpam_id=17
Model Antminer S9K from Bitmain mining SHA-256 algorithm with a maximum hashrate of 14Th/s for a power consumption of 1323W. https://miningwholesale.eu/product/bitmain-antminer-s9k-14-th-s/?wpam_id=17
Model T2T 30Tfrom Innosilicon mining SHA-256 algorithm with a maximum hashrate of 30Th/s for a power consumption of 2200W. https://miningwholesale.eu/product/innosilicon-t2t-30t/?wpam_id=17
mining wholesale website: https://miningwholesale.eu/?wpam_id=17
It seems with the stock market of bitcoin becoming more stable that it is a good time to jump on to Bitcoin and Alt coin mining. This is not because I want passive income or to get rich, I just want to learn and be pro-active. Electricity is not a problem. However, start up capital is. submitted by
I have low (average) spec computers and a small budget - but very low cost electricity. I do not mind if it is not profitable as I just want to learn and get into it. I want to start by Solo mining but I am open to cloud mining as well. I have been told it is best to start with lower currencies to learn the software as you find more blocks more often (lower value).
First question: Is it best to start with a BitMain antminer USB to the computer or to go all in with an old S9 Antminer or to go brand new? I want to keep my initial investment low to learn the software and system. So I am thinking the BitMain Antminer is best for me (around £45-55) rather than a second hand s9 Antminer (£200-300). Please can you tell me some good start up software to buy from ebay etc.
Second question: This is related to the initial set up of the piece of software in question and how to decrypt blocks when found.
Any further advice/help would be greatly appreciated - I am going to be buying some software and doing some more research in the next week. I have a E-Wallet on CoinBase and BlockChain already as I own a few cyrpto-currency at the moment.
Thank you for your time!
Right so basically i have never mined for a crypto before and now im starting as i want to get in with bitcoin but wanna see first with a smaller coin if i like the whole concept or not. I set everything up and its all working like, but my problem is i dont know if im pool mining or not ? I see on the CMD ( im using CPU ) it says i have 7.816433 shares and there is a difficulty of 8.212224. Does this mean im pool mining ? Also does anyone know how i can tell if im pool mining or solo ? submitted by
P.S: i know i cant mine bitcoin with a CPU so incase you try to say bitcoin is completely different as i need an antminer or a really good graphics card, i have a NVIDIA GeForce GTX 1080 and i know its a good graphics card
Building Whalesburg submitted by
We are getting questions from investors and bloggers who are not professional miners. They know in common words what it means, what hardware miners use but are not so familiar with numbers of this field. We regularly get questions how much profit Whalesburg will bring to our customers. So we decided to write a post which explains the basics of mining ROI.
This article is not for skilled miners; some details are not covered here! What is typical ROI in mining, how Whalesburg will improve it?
Mining ROI hardly depends on the hardware you use (GPU or ASICs), cryptocurrency prices, network difficulty, hashrate and other variables, which changes over time. It means that real data may hardly differ from those provided in this article.
Let’s refer to a well-known website Cryptocompare.com on the page of Antminer S9 (https://www.cryptocompare.com/mining/bitmain/antminer-s9-mine
). This website is quite popular and has an API used by thousands, so the data seems to be trustworthy. It tells that the price of a single piece of S9 is $2,725, its power consumption equals 1,375W, return per year is $3560 (incl. electricity costs) and ROI equals 130%.
This way you will get $3560 — $2725 = $835 net income at the end of the first year if variables below will remain same. The second year will bring you $3560 more. Note calculations was made using price of 1 BTC = $10516, electricity price $0.12 per kW/h and network difficulty = 18,633,837 PH/s.
Now let’s take a look at whattomine.com website on SHA 256 algorithm: screenshot is in a Medium post
As you can see, there is an option to mine UNIT which more profitable than BTC by 31% (!!!). So switching some of the pool’s hashpowers to this coin and converting UNIT to BTC on the fly could increase miners profit. This is the main concept of Whalesburg smart mining pool.
There is another problem — low UNIT’s network hashrate which can prevent this coin being such a profitable one if we will switch all our powers to it.
We are developing an algorithm which will vary hash powers among new coins and split profits between all participants. So, if someone will mine COIN1 with 130% BPR (BTC Profit Rate) and other will mine Bitcoin with 100% BPR — each of them both will get 15% more profit than just mining BTC. A module which responds for payouts will convert them to BTC by intent and split rewards among participants with PPLNS method.
Same picture we can see on other algorithms. For example our MVP use Ethash: screenshot is in a Medium post Will your partners who are mining hosting companies hold WBT or they will propose Whalesburg to their clients?
All partners will have a will to hold WBT tokens for their clients, and they agree to such terms. The fee of 0,45% is cheap; additionally, they get a monitoring tool built to fulfill their needs. It is a win-win deal. Clients of our partners are investors, not IT geeks. They don’t need to hold these tokens to see increased ROI in reports. We offer services to any size mining facilities. They will want to hold our tokens and use our software. Can you make some more concrete arguments in favor of Whalesburg regarding time-saving and increased ROI? Time-saving:
Now miners need to set a bunch of tools like EthMiner, Autominer, Claymore, Afterburner, and others. We incorporate all this functionality in one. Miners need to analyze the profitability of dozens of coins, look for good pools, create and run a .bat or .sh file to stop/run miners. They need to understand this all! Miners need to monitor the state of their hardware manually, and if something happened (drops of hash rate), they need to become a hardware doctors and to heal their farms. Let me tell you a story. Miner has a mining rig built with 8 GPU cards. He mines ETH with X MH/s. Suddenly he finds that hash rate become 0.6X MH/s — this is a 40% drop!!! But all the cards are working, responding at the same delay and have the same hash rate which is (0.6
X)/8 MH/s. So Miner takes out GPUs one by one and restarts this rig until he founds one GPU card which causes a problem. He replaces this card with another one, and his rig’s hash rate returns to X MH/s. He still doesn’t know what is wrong with his GPU card. The Whalesburg monitoring tool can prevent failures and diagnose problems automatically and notify Miner. Even try to heal it disconnecting card programmatically. Return rate:
A long time ago we experimented with my friends who own mining rigs and who were mining ETH. We’ve chosen most popular “smart mining pools” like Nicehash, Miner gate, suprnova.cc and solo mining mode with Claymore miner. The last mode was to mine with Whalesburg proof-of-concept solution — it was EthMiner + Autominer which connects to a pool of the most profitable coin among EtHash algorithm. So we connected five mining farms of the same hash rate to each of these modes and start to gather live statistics. A week was gone, and we calculated profits, rates, metrics: Lowest was solo mode mining with Claymore (obvious reasons — low hash rate, high difficulty). And still it brought to rig owner around 80% to average experiment income; Then go Nicehash and Minergate with 90% of average income, and both more-less were looking similar. Suprnova.cc was the best among all the previous and gave 115% of average experiment income. Whalesburg.com chart was hopping from one coin to another frequently at the start, then it stabilized and showed 125% of average income. Why we generate more profits, strong part:
The first server-side auto-witching algorithm. The one in the world — all other smart pools leave this to a clients side. Transparent fees. Blockchain-based accounting shows we are not hiding a penny and using actual exchange rates. We have more Ethash coins already, at the start. We have other architecture that other mining pools, the proprietary software we coded our own from scratch. To be confident we can promise at least +15% income to whatever they use now. Weaknesses:
Whalesburg is in the early stage. We have just released an MVP. Our pool’s hashrate on start will be low comparing to the biggest pools on the market. This is what we need to work out, but it will be easy.
— Whalesburg team
— Join telegram chat: https://t.me/whalesburg Test our MVP: http://pool.whalesburg.com Stay tuned!
As a side project I decided to buy a secondhand Bitcoin ASIC, an Antminer S5, and give a shot at solo mining on testnet so that I could generate some coins. Unlike on mainnet, which has so much mining competition that you’ll probably never find a block, the difficulty on testnet is low enough that solo mining is worthwhile. The following instructions should work for any ASIC that uses ... Solo mining, while potentially more profitable, can be a betting game where the hashrate competes against bigger pools. However, joining a pool may increase the chances of sharing a block reward. A case study recently performed on the latest ASIC, Antminer S17, shows that mining one bitcoin per year is possible with consumer electronics. There ... Solo Mine Bitcoin - Bitcoin-en.com. The chance of successfully mining Bitcoin (ever solving a block) is very slim  these days. Whatever the reason is for you do decide to mine Bitcoin without joining a pool, these are the steps to achieve mining Bitcoin by yourself without joining force with others. You're now ready to solo mine against Bitcoin Core, you just have to point your antminer at the IP address of the computer running BFGminer, and the miner should show up in the top section of BFGminer with its hashrate showing as "PXY" (stratum proxy). Any blocks will be paid out to the coinbase address shown in BFGminer, which is a new one ... hi guys, i be cut to the point, i need someone to help me with information about how to mine solo on the antminer, or in the worst case how to create my personal pool, and, even when i thank you all for the intentions, no, i don't want to know if it's profitable, i don't care if i lose my money, the amount of miners is not open to discussion, as i say, i just want to know how to do it, not if ...
How to mine Bitcoin BITMAIN Antminer S9 review!!! [----- [... Newbie guide for those who want to try solo bitcoin and litecoin mining, using bfgminer and cgminer. The config files shown in the video are available in the... mining expanse mining expanse solo mining ethereum mining eth mining etc mining zcash mining zcash bitcoin btc-~-~~-~~~-~~-~-Please watch: "How to start mining ANONymous (ANON) on pool with nVidia ... Antpool from bitmain is an advanced mining pool offering many coins to mine including bitcoin. This tutorial will demonstrate antpool mining bitcoin and bitmain antpool setup with antminer. 💰Buy & Sell Bitcoin💰 https://www.coinbase.com/join/551c497db555bcb102000040 Get $10 worth of Bitcoin when you buy $100 worth of Bitcoin through me. *Disclaim...