The Bitcoin Forum

deltazulu

Guys :x

Stop mining BTC. You're just pissing into the wind. The pool hasn't mined any BTC blocks for 7 days now. You will get zero income. 0.00000000 . Nada. Zip.

https://i.imgur.com/r3kYWbv.png

Currently there is 36.57 PH/s still mining BTC.

https://i.imgur.com/cfZQaDu.png

The BTC network ...

deltazulu

Because of the lower difficulty on BCH we mine way more blocks than on the BTC chain. On BTC we mine about 1-2% of the total even with full hash rate on BTC. On BCH we can get 10-20% of the total. If you want to mine BCH you will have a much easier time exchanging that for BTC (because of the fast ...

deltazulu

To simplify the accounting, I reduced the BCH block reward to 98% instead of introducing a 2% fee.

BTC block reward remains the same at 105%.

Not sure I like this at all. Why not just take 2% from the BTC bonus rewards e.g. 100% BCH, 103% BTC? Already BCH mining rewards are not that flash with ...

deltazulu

We check for profitability every hour because we don't want to switch chains too often.

When we switch chains, we immediately stop mining the less profitable chain.

I think that's doubly bad if we immediately stop mining the less profitable chain because then we're throwing away all the work ...

deltazulu

Only 4 blocks mined on BCH and 2 on BTC for the last day. Are we mining less blocks due to the Bitcoin Cash DAA and swapping between chains too much?

How often does it check the difficulty? Difficulty adjusts on Bitcoin Cash every block now, so might be worth checking the profitability every BCH ...

deltazulu

Who are the stubborn miners still on BTC right now? Get on board the BCH rocket.

deltazulu

https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html

I don't think anyone was really wanting Segwit2x to go through on the Core side or the Bitcoin Cash side. I think this frees up some of the big miners to mine Bitcoin Cash exclusively now as they are no ...

deltazulu

I do think for myself, thank you very much. I do not need you to tell me to think for myself. Also I do not need you to try to force me to change my decisions. The issue is not "earn more money in the long-run", as you say. The issue is what will happen in the short-term, and what is happening in ...

deltazulu

Who wrote this blog? Why is there no author name? Are you asking the entire pool to act according to the wishes of an anonymous blogger?

I saw it posted https://www.reddit.com/r/btc/comments/7a21y1/an_open_letter_to_bitcoin_miners_from_another/ which seems to have a lot of community support ...

deltazulu

I think mining is in a lot of trouble in general. We have seen hash rate come online faster and faster, possibly due to the temporary and unsustainable increased mining profits from the BTC/BCH chain split, and now we are facing quite a different B1X/B2X chain split that will likely decrease ...

deltazulu

Payouts are correct, there isn't a bug.

You had an auto-withdrawal yesterday: https://console.pool.bitcoin.com/transactions?coin=bcc

Estimated revenue does not include cloud mining fees.

Ah yes, now I read that the withdraw page is Recent Manual Withdrawals. Not all withdrawals show there ...

deltazulu

Are you sure the payouts are working correctly with auto-withdraw enabled? I enabled it 4 or 5 days ago. My 'Account' page was showing Estimated 24hr revenue of ~0.007 BCC for 2-3 days now. And there's been no withdrawals in my account since 5 days ago. But my total balance is only showing 0.005 for ...

deltazulu

Auto withdrawal for BCC doesn't appear to work? I enabled it and the page refreshed but there's no other indication that it was successful.

Edit: I figured it out. You have to click Change Address first for it to save the address. Then you have to click Enable Auto Withdrawal. Then enable which days.

deltazulu

1 Satoshi per byte is too low for BCC. I experimented with different transaction fees and found out that anything less than 20 satoshis per byte doesn't get confirmed in the next block.

That's very strange. In theory $0 fees should be possible at the moment. Which miner is setting a minimum of ...

deltazulu

What are the transaction fees set at for withdrawing BCC? I hope it does not follow some BTC fee formula as that will be much too high. For example 0.0001 BCC is still much too high, it should be more like 1 satoshi per byte and for an average transaction, that's 257 satoshis (0.00000257 BCC). The ...

deltazulu

I wish there was an auto-switch feature to automatically switch between most profitable pool. Though it shouldn't only look at short term profitability, it should take into account the hash power of both chains as well. So in general if we're only mining 1% of blocks on BTC and there's low hash ...

deltazulu

I agree. I want to switch but it takes 18 hours and we all need to switch for it to be worth it.

Even a half or quarter of the main hash power would still mine more blocks and the rewards would be split fewer ways. Definitely worth it I think.

deltazulu

http://i.imgur.com/DjgmrQ0.png

Just some thoughts: with mining profitability of Bitcoin Cash equal to parity with Bitcoin Legacy it may be worth everyone switching over to mining Bitcoin Cash. The reason for this is because:

a) all the other pools have not switched yet and there are less ...

deltazulu

*Cough*

Don't tell any other mining pools but:

http://fork.lol/

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 ...

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 ...

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.

deltazulu

if you purchase a contract can you upgrade the contract to more th at any time?

I'm sure you can in the pool.bitcoin.com interface once logged in. Would depend on if they have hashrate available though, which it appears they are out of stock right now.

http://i.imgur.com/FPI1pcs.png

A few ...

deltazulu

deltazulu

We need all hash power on BCC as soon as possible or we won't mine anything. Other pools are throwing 100s of Ph/s at it.

deltazulu

Blocks are coming in a lot more quickly now. 12 in the last hour. The network will hit the golden block of 479808 (-40% difficulty reduction starts) in a matter of hours (less than 8) from this post (http://bitcointicker.co/bccnetworkstats/). The switchover can't happen fast enough. pool.bitcoin.com ...

deltazulu

Now it 23% more profitable to mine BCH compared to BTC, see http://i.imgur.com/3z9h8NX.png. Time to start mining some BCH blocks.

deltazulu

There's now profitable parity including fees to mine BCH (http://fork.lol), see screenshot http://i.imgur.com/XmHpob3.png.

deltazulu

It's obvious by now that Core has no intention of honouring Segwit2x so it should be within reason to abandon it as well.

Core team only want to keep the block limit low to push as many transactions as they can onto their proprietary, patented "Lightning" side networks. Miners will really lose ...

deltazulu

Bitcoin Cash mining is now more profitable to mine by 7% (https://cash.coin.dance/blocks). See screenshot http://i.imgur.com/mP89mqP.png.

The price is up over $552 USD now (https://www.coingecko.com/en/price_charts/bitcoin-cash/usd), see screenshot: http://i.imgur.com/Xv4LOmh.png.

Bitcoin Cash ...

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