Bitcoin.com Mining Pool Official Discussion Thread

[BitcoinNewsMagazine]

The key to ROI when buying hosted bitcoin mining contracts has always been to ignore advertising and search out lifetime contracts with the lowest fees. I have experience with lifetime contracts at both pool.bitcoin.com and ViaBTC. ViaBTC is PPS+ and is keeping an average 16% of the mining reward for their fees and electric while pool.bitcoin.com is averaging 27%. People recognize a bargain which is why ViaBTC is out of stock at present. They are planning to open an exchange similar to Hashnest where TH/s can be bought and sold but no ETA yet.

[ZenOfLogic]

So i got my first daily payout. .0216903 BTC. This means I'll lose about $780 for the month. This is so lame. I literally bought a 1 month contract hours before the 1 month contract was removed. Does bitcoin.com pool allow moving my contract to 3 month contract? I hate to think that they don't care how shafted I'm getting.

[zowki]

So i got my first daily payout. .0216903 BTC. This means I'll lose about $780 for the month. This is so lame. I literally bought a 1 month contract hours before the 1 month contract was removed. Does bitcoin.com pool allow moving my contract to 3 month contract? I hate to think that they don't care how shafted I'm getting.

The first payment is pro-rated if you bought in the middle of the day. Next payment should be higher.

[zowki]

1 TH/s payouts varies significantly from different pools and cloud mining providers. We take pride in being the highest paying mining pool and cloud mining provider in the world. Other services are not transparent and don't show the number of shares earned. We pay you a fixed number of shares per TH/s and display your shares earned per day so you can mathematically verify that we are paying what we promised.

For comparison purposes, I bought 1 TH/s of lifetime contracts from Hashflare.io, Genesis Mining, and Bitcoin.com Pool. I only have 1 full day of data. I will continue to update this post as I get more data.

Here are the results:

1 TH/s revenue per day (after subtracting daily fees)
Hashflare: 0.00022648 BTC per day
Genesis Mining: 0.00028670 BTC per day
Bitcoin.com: 0.00031791 BTC per day

Percentage of Hashflare (higher percentage is higher profit)
Hashflare: 100%
Genesis Mining: 126.58%
Bitcoin.com: 140.37%

Hashflare transactions screenshot:
http://i.imgur.com/xFrvREb.png

Genesis mining transactions screenshot:
http://i.imgur.com/O0uJRjR.png

Bitcoin.com pool transactions screenshot (first payment is less because I started mining in the middle of the day):
http://i.imgur.com/ykpkasY.png

The results of this experiment should be repeatable so you can give it a try.

[Kryptowerk]

I told you I will report back as soon as my 1 months contract ends.

So here are my numbers: I bought in for 0.3601 BTC for a 40 TH/s contract
Now my total return is 0.4074 BTC. That is a ROI of over 11%. Pretty good if you ask me!

[BitcoinNewsMagazine]

1 TH/s payouts varies significantly from different pools and cloud mining providers. We take pride in being the highest paying mining pool and cloud mining provider in the world. Other services are not transparent and don't show the number of shares earned. We pay you a fixed number of shares per TH/s and display your shares earned per day so you can mathematically verify that we are paying what we promised.

For comparison purposes, I bought 1 TH/s of lifetime contracts from Hashflare.io, Genesis Mining, and Bitcoin.com Pool. I only have 1 full day of data. I will continue to update this post as I get more data.

Here are the results:

1 TH/s revenue per day (after subtracting daily fees)
Hashflare: 0.00022648 BTC per day
Genesis Mining: 0.00028670 BTC per day
Bitcoin.com: 0.00031791 BTC per day

Percentage of Hashflare (higher percentage is higher profit)
Hashflare: 100%
Genesis Mining: 126.58%
Bitcoin.com: 140.37%

Hashflare transactions screenshot:
http://i.imgur.com/xFrvREb.png

Genesis mining transactions screenshot:
http://i.imgur.com/O0uJRjR.png

Bitcoin.com pool transactions screenshot (first payment is less because I started mining in the middle of the day):
http://i.imgur.com/ykpkasY.png

The results of this experiment should be repeatable so you can give it a try.

The results would be different if you included ViaBTC in your comparison. I am averaging 0.00038 to 0.00040 bitcoin revenue per day per TH/s. This is after fees, net payout. Yes ViaBTC is out of stock at present but that does not mean you settle for second best. You either wait or just buy and hold bitcoin.

[GreyWyvern]

The results would be different if you included ViaBTC in your comparison. I am averaging 0.00038 to 0.00040 bitcoin revenue per day per TH/s. This is after fees, net payout. Yes ViaBTC is out of stock at present but that does not mean you settle for second best. You either wait or just buy and hold bitcoin.

I think the problem is, since ViaBTC are always sold out, it's a bit tough for zowki to buy a plan to test.

[masterdidwell]

Hi All,

This would be my first drop comment here. I don't know if where would I be able to introduce my self. But just read this post and I'm so excited to learn everything about Bitcoins and mining before I will start to invents.

Thanks.

[ganeshk86]

Hi,

I am new to this and would like to invest here.

Because its mentioned in FAQs I have some queries are below :- I am so sorry for the simple queries.

1 )please some one of you explain to me that do I really need to create worker ? if so how can I do that ?

2) "Enter the worker password as d=xxx (where xxx is the difficulty). Recommended difficulty is your hashrate in terahashes multiplied by 1000. For example, if your worker has 12TH/s then please enter "d=12000" (without quotes) as the password." WHAT IS THIS WHEN IT SAYS SET WORKERS DIFFICULTY.

[BitcoinNewsMagazine]

The results would be different if you included ViaBTC in your comparison. I am averaging 0.00038 to 0.00040 bitcoin revenue per day per TH/s. This is after fees, net payout. Yes ViaBTC is out of stock at present but that does not mean you settle for second best. You either wait or just buy and hold bitcoin.

I think the problem is, since ViaBTC are always sold out, it's a bit tough for zowki to buy a plan to test.

Open an account at ViaBTC so you are on their mailing list. As soon as the next batch of miners are on line and they have TH/s for sale again you will be the first to know. They always send out an email when TH/s are restocked. What I am waiting for is the promised exchange where TH/s can be bought and sold, similar to Hashnest. Then you can buy TH/s mine for a few months then sell. pool.bitcoin.com is not "the highest paying mining pool and cloud mining provider in the world" until they raise payouts to equal or best ViaBTC.

[zowki]

Hi,

I am new to this and would like to invest here.

Because its mentioned in FAQs I have some queries are below :- I am so sorry for the simple queries.

1 )please some one of you explain to me that do I really need to create worker ? if so how can I do that ?

2) "Enter the worker password as d=xxx (where xxx is the difficulty). Recommended difficulty is your hashrate in terahashes multiplied by 1000. For example, if your worker has 12TH/s then please enter "d=12000" (without quotes) as the password." WHAT IS THIS WHEN IT SAYS SET WORKERS DIFFICULTY.

1) You don't need to create workers. We do create it for you automatically if you buy a cloud mining contract.

2) Setting worker difficulty is only for hardware mining. Please don't worry about this if you are cloud mining.

[zowki]

The results would be different if you included ViaBTC in your comparison. I am averaging 0.00038 to 0.00040 bitcoin revenue per day per TH/s. This is after fees, net payout. Yes ViaBTC is out of stock at present but that does not mean you settle for second best. You either wait or just buy and hold bitcoin.

I think the problem is, since ViaBTC are always sold out, it's a bit tough for zowki to buy a plan to test.

Open an account at ViaBTC so you are on their mailing list. As soon as the next batch of miners are on line and they have TH/s for sale again you will be the first to know. They always send out an email when TH/s are restocked. What I am waiting for is the promised exchange where TH/s can be bought and sold, similar to Hashnest. Then you can buy TH/s mine for a few months then sell. pool.bitcoin.com is not "the highest paying mining pool and cloud mining provider in the world" until they raise payouts to equal or best ViaBTC.

ViaBTC's contracts are $179 per TH/s. We sell at $129 per TH/s. They are 39% more expensive than us.

According to ViaBTC's website, they pay 0.00034066 BTC per day in profits per TH/s (according to this page: https://www.viabtc.com/contract/s9/)
Bitcoin.com pays 0.00031791 BTC per day in profits per TH/s.

They are 39% more expensive than us, but they only pay 7.2% more than us.

[ZenOfLogic]

So i got my first daily payout. .0216903 BTC. This means I'll lose about $780 for the month. This is so lame. I literally bought a 1 month contract hours before the 1 month contract was removed. Does bitcoin.com pool allow moving my contract to 3 month contract? I hate to think that they don't care how shafted I'm getting.

The first payment is pro-rated if you bought in the middle of the day. Next payment should be higher.

Yeah, it looks like I'm going to only lose about .01 bitcoin for the month. I may get another contract to make up the difference and consider this the price of being a newb. lol

[rogerver]

GreyWyvern, I think I broke your calculator while calculating if I should purchase an additional 50P to add to the pool.
(Sales have been great!)

Any chance you can fix it to accommodate larger numbers?

[GreyWyvern]

GreyWyvern, I think I broke your calculator while calculating if I should purchase an additional 50P to add to the pool.
(Sales have been great!)

Any chance you can fix it to accommodate larger numbers?

Ahahaha! Yes, it was a variable casting problem with bigger values of Current Daily Returns. I have fixed the issue.

[GreyWyvern]

Wow, is pool.bitcoin.com really at >4% of global hashrate already? Growing very fast!

[GreyWyvern]

I have updated the estimation tool to include a more accurate scheduling of difficulty increases. Previously the tool would add a difficulty increase every 14 days, but the average time between BTC difficulty increases is actually around 13.25 days, which can significantly change estimates, especially for longer term contracts!

On that note, as of right now it looks like the next difficulty "increase" is actually going to be negative! https://bitcoinwisdom.com/bitcoin/difficulty

Now would be a great time to get in on a contract that benefits from a lower than average difficulty increase!

[Kryptowerk]

I have updated the estimation tool to include a more accurate scheduling of difficulty increases. Previously the tool would add a difficulty increase every 14 days, but the average time between BTC difficulty increases is actually around 13.25 days, which can significantly change estimates, especially for longer term contracts!

On that note, as of right now it looks like the next difficulty "increase" is actually going to be negative! https://bitcoinwisdom.com/bitcoin/difficulty

Now would be a great time to get in on a contract that benefits from a lower than average difficulty increase!

Cool thing you keep optimizing things.

Wow, that decrease in total hashpower is strange, do you have any info on that?

[rogerver]

Wow, that decrease in total hashpower is strange, do you have any info on that?

There is an electrical safety inspection going on at one of the farms that supplies 80P to our pool.
It is expected to be completed on June 30th, so it should be back online then.

[mel]

I have updated the estimation tool to include a more accurate scheduling of difficulty increases. Previously the tool would add a difficulty increase every 14 days, but the average time between BTC difficulty increases is actually around 13.25 days, which can significantly change estimates, especially for longer term contracts!

On that note, as of right now it looks like the next difficulty "increase" is actually going to be negative! https://bitcoinwisdom.com/bitcoin/difficulty

Now would be a great time to get in on a contract that benefits from a lower than average difficulty increase!

GreyWyvern I have been using your tool for a couple days and it is amazing! Is there a chance you can add a break-even estimate? It would help in comparing the lifetime plan with the others since we all value money sooner more than money later

[masterdidwell]

I have updated the estimation tool to include a more accurate scheduling of difficulty increases. Previously the tool would add a difficulty increase every 14 days, but the average time between BTC difficulty increases is actually around 13.25 days, which can significantly change estimates, especially for longer term contracts!

On that note, as of right now it looks like the next difficulty "increase" is actually going to be negative! https://bitcoinwisdom.com/bitcoin/difficulty

Now would be a great time to get in on a contract that benefits from a lower than average difficulty increase!

GreyWyvern I have been using your tool for a couple days and it is amazing! Is there a chance you can add a break-even estimate? It would help in comparing the lifetime plan with the others since we all value money sooner more than money later

I did used his tool too when I first bought a minimum of 3 months contract.

Currently, my 5th day is ok... I did made my 1st withdraw to try it and got my BTC in no time.
I'm still monitoring how 4.00 Th/s performing for me.. and maybe after a month, I will get a lifetime contract if I have budget..

Looking forward for positive results.

[GreyWyvern]

GreyWyvern I have been using your tool for a couple days and it is amazing! Is there a chance you can add a break-even estimate? It would help in comparing the lifetime plan with the others since we all value money sooner more than money later

Thanks for the kind words!

The trouble with doing a break-even estimate is... which variable do I choose to move around? There are two: Lowering the avg. difficulty change will make ROI higher. Raising the % daily change in BTC vs USD will make ROI higher. And vice versa for both.

Really, once you have the Initial Cost, Daily Fee and Current Daily Returns values all in there, you are free to play with the bottom two variables as you wish. Even small changes can have a big impact! I don't think I'm going to put in any automated features.

In any case, I have added a notification in the Daily Breakdown text area that tells you on what day the plan broke even in terms of BTC. Hopefully that helps somewhat

[GreyWyvern]

I did used his tool too when I first bought a minimum of 3 months contract.

I'm happy I could help!

Currently, my 5th day is ok... I did made my 1st withdraw to try it and got my BTC in no time.

One thing to note is that each withdrawal entails bitcoin network fees. You will save BTC (and thus earn more) by withdrawing larger amounts less often than smaller amounts more often.

Best of luck!

[carlog12345]

Hi noob, question. When I tried the tool by grtywyvern, it says it will be unprofitable in 1.2 years. Any reason why it became unprofitable in 1.20 years? Is it because of the difficuly or the daily fees? Thanks

[GreyWyvern]

Hi noob, question. When I tried the tool by grtywyvern, it says it will be unprofitable in 1.2 years. Any reason why it became unprofitable in 1.20 years? Is it because of the difficuly or the daily fees? Thanks

For every block that gets added to the bitcoin blockchain, mining machines have to answer a very complicated math question that takes a lot of processing power. Every two weeks or so the difficulty of this math question is changed so that new blocks aren't being mined too quickly or too slowly.

Over time, as more miners bring their machines online, the total computing power attacking the math questions will increase, therefore over time the difficulty will increase along with it.

What that means is that the hashrate you buy today will be USELESS to attack the increasing complexity of the math questions in just a few years time. The amount of BTC you get for any given amount of hashrate will slowly, and inevitably, decrease over time. Since pool.bitcoin.com charges you a daily fee to keep your hashrate active, it is inevitable that the amount of BTC you are earning will eventually fall below the cost of the daily fee.

At this point, your Lifetime Plan will be canceled and hopefully you earned more BTC than you paid in to get it. At that point, prices will have changed so you can buy a new Lifetime Plan, which hopefully is also profitable.

"Lifetime Plans" are a misleading name. None of them will last a Lifetime, not even close unless the price of BTC vs USD goes absolutely parabolic. Most "Lifetime Plans" will last between 1 and 2 years.

[mel]

GreyWyvern I have been using your tool for a couple days and it is amazing! Is there a chance you can add a break-even estimate? It would help in comparing the lifetime plan with the others since we all value money sooner more than money later

Thanks for the kind words!

The trouble with doing a break-even estimate is... which variable do I choose to move around? There are two: Lowering the avg. difficulty change will make ROI higher. Raising the % daily change in BTC vs USD will make ROI higher. And vice versa for both.

Really, once you have the Initial Cost, Daily Fee and Current Daily Returns values all in there, you are free to play with the bottom two variables as you wish. Even small changes can have a big impact! I don't think I'm going to put in any automated features.

In any case, I have added a notification in the Daily Breakdown text area that tells you on what day the plan broke even in terms of BTC. Hopefully that helps somewhat

Definitely helps! As a fellow hodler, BTC break-even is all I really want Time to obsessively calculate possible world outcomes.

Heads up, all the text in the Daily Breakdown moved to one line:

[carlog12345]

Hi noob, question. When I tried the tool by grtywyvern, it says it will be unprofitable in 1.2 years. Any reason why it became unprofitable in 1.20 years? Is it because of the difficuly or the daily fees? Thanks

For every block that gets added to the bitcoin blockchain, mining machines have to answer a very complicated math question that takes a lot of processing power. Every two weeks or so the difficulty of this math question is changed so that new blocks aren't being mined too quickly or too slowly.

Over time, as more miners bring their machines online, the total computing power attacking the math questions will increase, therefore over time the difficulty will increase along with it.

What that means is that the hashrate you buy today will be USELESS to attack the increasing complexity of the math questions in just a few years time. The amount of BTC you get for any given amount of hashrate will slowly, and inevitably, decrease over time. Since pool.bitcoin.com charges you a daily fee to keep your hashrate active, it is inevitable that the amount of BTC you are earning will eventually fall below the cost of the daily fee.

At this point, your Lifetime Plan will be canceled and hopefully you earned more BTC than you paid in to get it. At that point, prices will have changed so you can buy a new Lifetime Plan, which hopefully is also profitable.

"Lifetime Plans" are a misleading name. None of them will last a Lifetime, not even close unless the price of BTC vs USD goes absolutely parabolic. Most "Lifetime Plans" will last between 1 and 2 years.

Thank you for your response. I now understand. In 1-2 years time, Lifetime plan will be cancelled because of the daily fees. The amount of BTC that will you will be getting that time will become smaller or negligible amount.

[GreyWyvern]

Heads up, all the text in the Daily Breakdown moved to one line:
Snip.PNG

Hrms, that's really weird! Works fine on Chrome-based browsers.

I think I have fixed it though.

[mel]

Heads up, all the text in the Daily Breakdown moved to one line:
Snip.PNG

Hrms, that's really weird! Works fine on Chrome-based browsers.

I think I have fixed it though.

Yes it is fixed in safari and firefox. Maybe I should switch to chrome :p

[hosul]

What is best strategy until 20% bonus end to get highest ROI? Must I buy more hash power after every day payout to reach best return to my investment?