Bitcoin.com Mining Pool Official Discussion Thread

[zowki]

Hi there,

Just wondering if there is an issue with the BCC hashrate readouts? It appears 5 hours ago my miner dropped off, and shows a 0 current hashrate but also a 0 hashrate average for 24 hours. The graph clearly shows it had been hashing prior to the 5 hour mark. I didn't check my miner status before leaving for work, but it did appear to be operating as normal 4 hours ago. I also did not receive an email alert for an offline miner. Thanks

It is a known issue where the 24 hour average appears as zero if the worker is offline for more than 3 hours. You can see when your worker was last online by looking at your hashrate graph.

As for email alerts, that is not for BCC workers, only BTC workers for now. I will add alerts for BCC workers later.

[steamtime]

Okay thanks for the info, I did see where it went offline. I did check the graph but as I'm at work I wanted to see if there was an issue in the pool readout or if my worker is offline for another reason.

[x01bit]

hola. I am newbie

[mel]

Looks like BCC has another six EDAs coming that will bring it down to about 9% of the other chain's difficulty. It will be more profitable again in a few blocks if I'm not mistaken.

https://cash.coin.dance/blocks

I am unsure of the long term consequences of the EDA... It will cause the inflation to speed up for BCC at least during these fork wars, which seems minor overall... Does anyone have any predictions for potential long term consequences of the EDA? Will the inflation rate always be about 4 times faster because ten minute blocks get reduced to 2.5 minute blocks in 12 hours? Will the EDA not get triggered when there's not another bitcoin to mine?

[KableK]

Looks like BCC has another six EDAs coming that will bring it down to about 9% of the other chain's difficulty. It will be more profitable again in a few blocks if I'm not mistaken.

https://cash.coin.dance/blocks

I am unsure of the long term consequences of the EDA... It will cause the inflation to speed up for BCC at least during these fork wars, which seems minor overall... Does anyone have any predictions for potential long term consequences of the EDA? Will the inflation rate always be about 4 times faster because ten minute blocks get reduced to 2.5 minute blocks in 12 hours? Will the EDA not get triggered when there's not another bitcoin to mine?

You are mistaken, currently there is only one difficulty adjustment that is "locked-in": http://bch.xbt.it/?interval=0

What we don't know yet is how long the next blocks will take, if you change that interval high enough you'll notice we're in for 2 or more difficulty adjustments. What you are saying will likely happen if the blocks take long enough but it's not as soon as you think.

[mel]

You are mistaken, currently there is only one difficulty adjustment that is "locked-in": http://bch.xbt.it/?interval=0

Ah ok thanks for the link.

[KableK]

You are mistaken, currently there is only one difficulty adjustment that is "locked-in": http://bch.xbt.it/?interval=0

Ah ok thanks for the link.

No problem. There are now 4 EDA's locked in.

http://bch.xbt.it/?interval=0

[deltazulu]

The fork.lol site shows practical equal profitability between the chains now.

One question I have is, why bother continuing to mine BTC at all? With the high fees, how will you even get your mining rewards out? They'll be eaten by fees and slow confirmation times.

[sayurichick]

the profitability for both chains are close enough that i'm going to mine BCC since i think in the long term, it'll be more lucrative to have more.

will probably swap back in 2-3 days

[mel]

the profitability for both chains are close enough that i'm going to mine BCC since i think in the long term, it'll be more lucrative to have more.

will probably swap back in 2-3 days

Agreed. If I withdrew the BTC and traded it for BCC immediately, even with no fee, I would only get about 5% more BCC than if I just straight mined BCC. With my expectation that the exchange rate will get less favorable (price of BCC will go up), I feel like it's safer to just mine BCC.

[IlanE]

Can anyone tell me how much the transaction fee is to auto withdraw your BTC from this pool? Is it 0.001 BTC if so that sounds very high to me?

[zowki]

Can anyone tell me how much the transaction fee is to auto withdraw your BTC from this pool? Is it 0.001 BTC if so that sounds very high to me?

Yes, it is 0.001 BTC. BTC fees are high due to small blocks and high network congestion.

BCC withdrawal fees are only 0.0001 BCC.

[rogerver]

Can anyone tell me how much the transaction fee is to auto withdraw your BTC from this pool? Is it 0.001 BTC if so that sounds very high to me?

Bitcoin fees vary from day to day.
You can track it here: https://bitcoinfees.21.co/

Bitcoin Cash fees are almost free. (The way Bitcoin used to be before Blockstream forced the blocks to become full)

[deltazulu]

Once logged into the console.pool.bitcoin.com interface it shows this message:

10% Block Reward Bonus!
We are paying a 10% higher block reward for BTC mining. See the fees page for info. Thank you for using our pool and supporting on chain scaling!

Why does BTC mining get a 10% higher reward? How does mining BTC support on chain scaling? Isn't BTC the opposite of on chain scaling (with artificially limited block size and proprietary side chain / Lightning network) and it's actually BCC that is supporting on chain scaling?

[Sirslicey]

I understand you guys are working on BCC being accepted as payment for purchased contracts, however do you have an estimate on when that will be released?

Thank you.

[farzin]

The fork.lol site shows practical equal profitability between the chains now.

One question I have is, why bother continuing to mine BTC at all? With the high fees, how will you even get your mining rewards out? They'll be eaten by fees and slow confirmation times.

There are a couple of reasons that people continue to mine BTC. One is expectation of future BTC price: Some people think BTC price will drop to about $3,800, but others think it will increase to the $4,500 to $5,000 range. If the price of BTC goes up, it will cover the fees. The other reason is that the network difficulty of BCC keeps changing and has some very sharp changes to it, this is clearly shown in the fork.lol site. The result is that many miners keep switching back and forth between BTC and BCC and try to "time it right", essentially chasing profits. This is not an issue of ideology, which is whether they like BTC better or BCC better. They are purely chasing profits. You will see this "coin-switching" mentality in miners all over the world, especially I think miners who are in China and Eastern Europe.

There are other miners who try to hedge against the very sharp changes in BCC difficulty by mining both BTC and BCC at the same time.

A few articles have been written about miners who switch between BTC and BCC (whichever gives them the highest profit on that specific day, or in those few specific days). Here is a good article: https://news.bitcoin.com/bitcoin-cash-b ... n-profits/.

[zowki]

Once logged into the console.pool.bitcoin.com interface it shows this message:

10% Block Reward Bonus!
We are paying a 10% higher block reward for BTC mining. See the fees page for info. Thank you for using our pool and supporting on chain scaling!

Why does BTC mining get a 10% higher reward? How does mining BTC support on chain scaling? Isn't BTC the opposite of on chain scaling (with artificially limited block size and proprietary side chain / Lightning network) and it's actually BCC that is supporting on chain scaling?

BTC gets a 10% bonus due to high transaction fee rewards. BCC does not have high tx fee rewards.

That message is left over from before we introduced BCC mining. You were supporting on chain scaling because our pool signaled for Bitcoin Unlimited.

I will edit that message.

[zowki]

How long before the lifetime contract restocks again? Will the price of Pre-Order Plan 1 decrease once we restock hashes since it's sitting at $249/TH (same as lifetime plan)...? Or yet, how do you determine the prices of the contracts?

We are planning to restock in late September. Might be earlier though.

Our prices are based on supply and demand.

[SameerNaik]

Are there any plans to allow splitting the hashrate of a contract?
If i have a 10TH/s contract it would be awesome if i could split the hashrate between mining BTC (5 TH/s) and BCH (5 TH/s).

[zowki]

Are there any plans to allow splitting the hashrate of a contract?
If i have a 10TH/s contract it would be awesome if i could split the hashrate between mining BTC (5 TH/s) and BCH (5 TH/s).

Eventually I would like to do this, but there are more urgent features to develop at the moment.

[fiatoshi]

Ya'll come on back over to the BCH mine!

fork.lol.PNG (4.65 KiB) Viewed 8422 times

There's not a massive difference between the current fiat profitability of BTC and BCH (see above)
and with BCH you can mine about 10 times as much cryptocoin as BTC!

[bitkilo]

Ya'll come on back over to the BCH mine!

fork.lol.PNG

There's not a massive difference between the current fiat profitability of BTC and BCH (see above)
and with BCH you can mine about 10 times as much cryptocoin as BTC!

Another great site to check which coin is more profitable to mine is: https://cash.coin.dance/blocks
This site shows that just now it is currently 29.5% more profitable to mine on the original (BTC) chain.

[fiatoshi]

Thank you bitkilo. The current trend I've observed is that BTC to BCH profitability (short-term USD profitability) frequently fluctuates between 1.25x-ish and 1.15x-ish during the day (fluctuating as blocks are mined), with the expected next post-adjustment (currently projected to be four days away) figure always being lower (1.05x-ish). Exchange rate wise, BCH has been rising with the current rally on BTC, rather than being left behind.

[deltazulu]

Thank you bitkilo. The current trend I've observed is that BTC to BCH profitability (short-term USD profitability) frequently fluctuates between 1.25x-ish and 1.15x-ish during the day (fluctuating as blocks are mined), with the expected next post-adjustment (currently projected to be four days away) figure always being lower (1.05x-ish). Exchange rate wise, BCH has been rising with the current rally on BTC, rather than being left behind.

Yes, I think the key is short term profitability vs long term. For the short term, the profitability of BCH is not too bad, as long as there's enough hashrate in the mining pool so we have a better chance of mining a few blocks per day. For the long term I am supporting BCH because the network is better. Lower fees attract more people to use it as a currency. I suspect as more merchants adopt BCH then the price will rise. I will hold it for the long term. I don't know what BTC are up to, but high fees and long transaction confirmation times make it unusable as a currency.

[bitkilo]

Can we get an update on the BCH payment for mining contracts? How long from today should we expect to be able to purchase with BCH? And the restock of hashes?
Just to get my head around the price system; if BTC price rises, would contract prices increase too?

Hi Sonny,

Fancy seeing you here
I am not sure of the exact date that the option to purchase contracts with Bitcoin Cash will be made available but i know that it is one of the top couple of items the devs have on their "to do list" so shouldn't be far off.

Our cloud mining contracts are priced in USD rates per TH so if BTC or BCC go up in value this won't cause the price to go up. The recent price rises have been due to low stocks and high demand, we can't often source enough hashrate to keep up with sales. Sometimes we have to buy smaller bulk stocks that cost more than we have planned for so this will also drive up the price per TH.

Our pre-order plans are still the best value for money, esecially the pre-order #2 that is much cheaper per TH still, i am guessing that it won't stay at this price for long.

[RaymondChong]

Currently I have a 5 TH/s contract that is mining BTC.

Is it possible that I buy another pre-order 5 TH/s contract, but use it to mine BCC?

[punit2502]

Currently I have a 5 TH/s contract that is mining BTC.

Is it possible that I buy another pre-order 5 TH/s contract, but use it to mine BCC?

Yes it is possible.

[bitkilo]

Currently I have a 5 TH/s contract that is mining BTC.

Is it possible that I buy another pre-order 5 TH/s contract, but use it to mine BCC?

Yes it is possible.

That is correct, we do offer bitcoin cash mining on out pool. You can even switch the current hashrate you have to mine BCC when it is more profitable to do so.
This is a great site for checking which coin is more profitable to mine: https://cash.coin.dance/blocks
It is currently 23.8% more profitable to mine on the original BTC chain, this changes regularly.

Thank you for mining with Bitcoin.com

[tomppa]

Is it possible to pay order from pool account balance? If not, are you planning to add this feature at some point? Would be awesome feature to avoid transfer fees.

[bitkilo]

Is it possible to pay order from pool account balance? If not, are you planning to add this feature at some point? Would be awesome feature to avoid transfer fees.

We don't have this feature available just yet but it is something the devs have on their "to do list"
It is quite a regularly requested feature to add so i am sure they will add it soon enough