Bitcoin.com Mining Pool Official Discussion Thread

[Sirslicey]

Roger Ver and company, just want to personally thank you guys for your work in Bitcoin's past, present, and future. I've been using your mining pool for no more than a few weeks and am incredibly excited as to the work you guys are doing. The lifetime plan contract returns are a no-brainer as far as I'm concerned as well. The competition is in the dust. Thank you for being industry leaders.

[dima.prima]

105% block reward is awesome!!!!!

[zowki]

105% block reward is awesome!!!!!

Our block reward is now 110%.

Please see this post: post70500.html#p70500

[KevinMcKernan]

NewBee to pool.bitcoin.com.
Im certain this question has been asked but I don't see it on the FAQs.

If one commits a bitcoin to a lifetime 20TH/s contract, it appears it will generate close to $20/day for the lifetime of the contract (until no longer profitable). This looks like a ~130 day payback period on the $2600 BTC unless for some reason it is no longer profitable in that time window. What market forces would present this profitability risk? Trying to estimate how much more I should commit from cold storage but don't feel I understand at what point this contract will become unprofitable.

All links or advice welcomed.

Thank you

Kevin

[GreyWyvern]

NewBee to pool.bitcoin.com.
Im certain this question has been asked but I don't see it on the FAQs.

If one commits a bitcoin to a lifetime 20TH/s contract, it appears it will generate close to $20/day for the lifetime of the contract (until no longer profitable). This looks like a ~130 day payback period on the $2600 BTC unless for some reason it is no longer profitable in that time window. What market forces would present this profitability risk? Trying to estimate how much more I should commit from cold storage but don't feel I understand at what point this contract will become unprofitable.

The key is the regular adjustments to difficulty which are made. If you buy 20TH/s today, over time the difficulty will increase and it will earn you less and less BTC. Eventually the earned BTC will be less than the daily fee in terms of BTC and at that point the plan will become unprofitable and be canceled. For "lifetime plans" this will probably happen between 1 and 2 years.

I made a tool where you can estimate returns on a pool.bitcoin.com plan. You can find the link in my signature!

I'm not sure if right now is the best time to buy new contracts. The last difficulty "increase" was actually negative, so the Current Daily Return per TH/s for each plan should have gone up, but instead it went down. I'm not sure if this is a mistake or not, but all the plans are currently unprofitable considering historical difficulty increases and BTC vs USD price.

The pool admins may adjust the plan parameters to account for this, so I would wait, but keep checking.

[rogerver]

Would any statisticians like to chime in on how likely this horrible horrible recent luck for our pool is?
We have checked all our systems, and everything still looks fine, but this bad luck really is horrible!

[ZenOfLogic]

Mining reward lowered to 110%. So... I'll lose even more bitcoin on my one month contract. This is so bad.

[chiemekailo_forum]

Would any statisticians like to chime in on how likely this horrible horrible recent luck for our pool is?
We have checked all our systems, and everything still looks fine, but this bad luck really is horrible!

Is this why the daily returns has dropped sharply?
I thought it was only dependent on Difficulty and Bitcoin price. Better luck tomorrow, I pray.

[c0207148]

Would any statisticians like to chime in on how likely this horrible horrible recent luck for our pool is?
We have checked all our systems, and everything still looks fine, but this bad luck really is horrible!

Is this why the daily returns has dropped sharply?
I thought it was only dependent on Difficulty and Bitcoin price. Better luck tomorrow, I pray.

Yeah, PPS payout method is supposed not to be affected by "pool luck", would you please explain further ...?

[rogerver]

Yeah, PPS payout method is supposed not to be affected by "pool luck", would you please explain further ...?

If you are on PPS, then the pool luck has no effect on your payout.
If you are on PPLNS then your payout rises and drops with the luck of the pool.
Recently we have had hoooooorible luck.

[c0207148]

ok, thanks ... I bought cloud hashrate and is on PPS I found my payout dropped sharply yesterday...

[fabiocardozo]

My payments have gone down a lot, it is already in that value or you can go back up

thanks

[zowki]

Your revenue will increase again when transaction fee rewards in the block increases.

Due to low transaction fee rewards, we had to lower the block reward bonus from 120% to 110%. This was announced on the previous page already. However, we are still the worlds highest paying mining pool because the average block reward for the past week has been 109%. We have been paying a subsidy to you guys.

[KevinMcKernan]

Thanks for helping the Newbie!

Is there historical data beyond 7 days on the Fee/reward ratio. If this inverts for 7 days the lifetime contracts are void. This begs the question of how frequently the fees do this? At what BTC price do the rewards go under the fee? I think this is important to address with 110% block rewards as it looks like a Ponzi scheme other words.

[KevinMcKernan]

NewBee to pool.bitcoin.com.
Im certain this question has been asked but I don't see it on the FAQs.

If one commits a bitcoin to a lifetime 20TH/s contract, it appears it will generate close to $20/day for the lifetime of the contract (until no longer profitable). This looks like a ~130 day payback period on the $2600 BTC unless for some reason it is no longer profitable in that time window. What market forces would present this profitability risk? Trying to estimate how much more I should commit from cold storage but don't feel I understand at what point this contract will become unprofitable.

The key is the regular adjustments to difficulty which are made. If you buy 20TH/s today, over time the difficulty will increase and it will earn you less and less BTC. Eventually the earned BTC will be less than the daily fee in terms of BTC and at that point the plan will become unprofitable and be canceled. For "lifetime plans" this will probably happen between 1 and 2 years.

I made a tool where you can estimate returns on a pool.bitcoin.com plan. You can find the link in my signature!

I'm not sure if right now is the best time to buy new contracts. The last difficulty "increase" was actually negative, so the Current Daily Return per TH/s for each plan should have gone up, but instead it went down. I'm not sure if this is a mistake or not, but all the plans are currently unprofitable considering historical difficulty increases and BTC vs USD price.

The pool admins may adjust the plan parameters to account for this, so I would wait, but keep checking.

Thank you for the clarification. The link appears to have been dotted "..." and dysfunctional.
If the Price of BTC drops, The value of the BTC mined goes down and presumably inverts under the fees as well right?

[KevinMcKernan]

Would any statisticians like to chime in on how likely this horrible horrible recent luck for our pool is?
We have checked all our systems, and everything still looks fine, but this bad luck really is horrible!

Is ant pool using ASIC Boost?
https://www.reddit.com/r/Bitcoin/commen ... the_claim/

[rogerver]

At what BTC price do the rewards go under the fee?

I made a little graphic to help you understand:


So the current Bitcoin price would have to go under about $720 for the mining contracts to no longer be profitable at the current network difficulty.
In reality the Bitcoin price is likely to go up along with the difficulty.
Some day, likely more than a year in the future, the difficulty will be so high that your contract is no longer profitable.
There are lots of moving variables, but hopefully you will have made money dollar on dollar and Bitcoin on Bitcoin by that time.

[KevinMcKernan]

NewBee to pool.bitcoin.com.
Im certain this question has been asked but I don't see it on the FAQs.

If one commits a bitcoin to a lifetime 20TH/s contract, it appears it will generate close to $20/day for the lifetime of the contract (until no longer profitable). This looks like a ~130 day payback period on the $2600 BTC unless for some reason it is no longer profitable in that time window. What market forces would present this profitability risk? Trying to estimate how much more I should commit from cold storage but don't feel I understand at what point this contract will become unprofitable.

The key is the regular adjustments to difficulty which are made. If you buy 20TH/s today, over time the difficulty will increase and it will earn you less and less BTC. Eventually the earned BTC will be less than the daily fee in terms of BTC and at that point the plan will become unprofitable and be canceled. For "lifetime plans" this will probably happen between 1 and 2 years.

I made a tool where you can estimate returns on a pool.bitcoin.com plan. You can find the link in my signature!

I'm not sure if right now is the best time to buy new contracts. The last difficulty "increase" was actually negative, so the Current Daily Return per TH/s for each plan should have gone up, but instead it went down. I'm not sure if this is a mistake or not, but all the plans are currently unprofitable considering historical difficulty increases and BTC vs USD price.

The pool admins may adjust the plan parameters to account for this, so I would wait, but keep checking.

Thank you for the clarification. The link appears to have been dotted "..." and dysfunctional. ...never mind- found it here.
http://www.greywyvern.com/code/javascri ... itcoincalc
If the Price of BTC drops, The value of the BTC mined goes down and presumably inverts under the fees as well right?

[hosul]

At what BTC price do the rewards go under the fee?

I made a little graphic to help you understand:


So the current Bitcoin price would have to go under about $720 for the mining contracts to no longer be profitable at the current network difficulty.
In reality the Bitcoin price is likely to go up along with the difficulty.
Some day, likely more than a year in the future, the difficulty will be so high that your contract is no longer profitable.
There are lots of moving variables, but hopefully you will have made money dollar on dollar and Bitcoin on Bitcoin by that time.

Thank you guys helping us newbies. If I buy today 1 PT contract. How long did you think it will be profitable about and how sure in that moment I have earn more BTC than I have invest for it? Is it possible I don't earn my BTC back and that way make losses.

[chiemekailo_forum]

Your revenue will increase again when transaction fee rewards in the block increases.

Due to low transaction fee rewards, we had to lower the block reward bonus from 120% to 110%. This was announced on the previous page already. However, we are still the worlds highest paying mining pool because the average block reward for the past week has been 109%. We have been paying a subsidy to you guys.

I see the sense here, because I am on PPS plan and should not be affected by LUCK. However i also noticed that the reward dropped from +20% to +10% (110%).
I do hope this will increase again. But if you don't mind my asking for clarification; it is the recent 3-days' "bad luck" that prompted the transaction fee rewards in the block to decrease right.?! This would mean that luck can still affect PPS plan somewhat, and maybe with a real good luck we can get 130%+ payouts

[masterdidwell]

Hello Members,

Due to the low block transaction fees our block reward bonus has been lowered to 110% (as per our terms & conditions).

If/when block transaction fees increase to a level where we can increase our block reward again we will do so.

The average block reward for the past week is 109% of the base reward, so we're still the highest paying pool by far with our 110% reward.

Cheers!

I noticed in my dashboard daily revenue low. I assumed that it is because of this. Hopes that can recover for todays BTC result now.

I'm a newbie and I really don't know whats most of you here are talking about. It makes me to search a lot about mining already.

Thank you all for the hard work.

[Sirslicey]

I see that the initial cost per TH/s on the Lifetime Plan has gone up from $129 to $149. What is the cause of the price increase?

[rogerver]

But if you don't mind my asking for clarification; it is the recent 3-days' "bad luck" that prompted the transaction fee rewards in the block to decrease right.?! This would mean that luck can still affect PPS plan somewhat, and maybe with a real good luck we can get 130%+ payouts

The bad luck has nothing to do with our PPS payout amount. (It will affect your PPLNS payouts though)
Fewer people are willing to pay as high of fees to use Bitcoin at the moment, so the income per block has dropped.
Recently it was about 15BTC per block, but in the photo below you can see that it is now much lower, so we lowered our payout to 110% which is still more than the average fees at the moment.

[zowki]

I see that the initial cost per TH/s on the Lifetime Plan has gone up from $129 to $149. What is the cause of the price increase?

The price increase is due to low stock and very high demand. We adjust our prices based on supply and demand.

[steamtime]

Hi there,
New guy to mining, and was wondering is it currently worth mining PPLNS over PPS considering the 10% bonus is only paid on blocks with a reward of 15 or more, while PPS pays the 10% on every block? Is this bonus enough to think about going for the steady payout as I remember reading that in the long run you usually come out ahead 5% overall mining PPLNS ( no bonuses involved). Any and all tips and advice are appreciated, Thanks.

[zowki]

Hi there,
New guy to mining, and was wondering is it currently worth mining PPLNS over PPS considering the 10% bonus is only paid on blocks with a reward of 15 or more, while PPS pays the 10% on every block? Is this bonus enough to think about going for the steady payout as I remember reading that in the long run you usually come out ahead 5% overall mining PPLNS ( no bonuses involved). Any and all tips and advice are appreciated, Thanks.

PPS is more profitable than PPLNS on our pool.

For most other pools, PPLNS is more profitable.

[hosul]

I see that the initial cost per TH/s on the Lifetime Plan has gone up from $129 to $149. What is the cause of the price increase?

The price increase is due to low stock and very high demand. We adjust our prices based on supply and demand.

You guys in last page was sure how btc.com pool is most profitable because lower contract price and high payout. Now when payout have went down and prices and fees up can you do last pages calculation again how much more profitable btc.com pool is than viaBTC?

[zowki]

I see that the initial cost per TH/s on the Lifetime Plan has gone up from $129 to $149. What is the cause of the price increase?

The price increase is due to low stock and very high demand. We adjust our prices based on supply and demand.

You guys in last page was sure how btc.com pool is most profitable because lower contract price and high payout. Now when payout have went down and prices and fees up can you do last pages calculation again how much more profitable btc.com pool is than viaBTC?

We are still the most profitable pool, because we pay out 110% block reward (13.75 BTC per block) while the average actual block reward that our pool mined for the past week is 109%. We're giving more money than we are even earning.

[KevinMcKernan]

At what BTC price do the rewards go under the fee?

I made a little graphic to help you understand:


So the current Bitcoin price would have to go under about $720 for the mining contracts to no longer be profitable at the current network difficulty.
In reality the Bitcoin price is likely to go up along with the difficulty.
Some day, likely more than a year in the future, the difficulty will be so high that your contract is no longer profitable.
There are lots of moving variables, but hopefully you will have made money dollar on dollar and Bitcoin on Bitcoin by that time.

Thank you guys helping us newbies. If I buy today 1 PT contract. How long did you think it will be profitable about and how sure in that moment I have earn more BTC than I have invest for it? Is it possible I don't earn my BTC back and that way make losses.

Fascinating. Fair to assume the mining overhead is the Fee and it is a fixed cost at the same difficulty until the next version of ASICs come on line. Assuming 12% of the miners rewards are BTC fees.. does this go down or up with bigger blocks? I know this is currently going down as folks diversify pre-Aug 1st and if you are successful it may initially fall to historical fee levels but the micro transaction markets will kick in and there is chance the aggregate BTC fee revenue will be unaffected or even go up? Whats most concerning is the SeqWit attack vectors and the mess it creates. Do mining contracts Pre-Aug1st push this in favor of BU or has that ship sailed? Seems like Segwit vs BU support inverted lately despite this Peter Rizun Bombshell.

https://www.youtube.com/watch?v=hO176mdSTG0

[rogerver]

Fascinating. Fair to assume the mining overhead is the Fee and it is a fixed cost at the same difficulty until the next version of ASICs come on line.

The fees is fixed for the length of the contract. It doesn't change based on the Bitcoin price or network difficulty. Mostly it just pays for the electricity to run the miner.

Assuming 12% of the miners rewards are BTC fees.. does this go down or up with bigger blocks?

The extra 12% of bitcoin from fees will likely go down significantly, but the value of the 12.5 bitcoins in the base block reward will go up far far far far more than 12% due to the additional usefulness of Bitcoin, and the new users that will attract.