Bitcoin.com Mining Pool Official Discussion Thread

[BitDuke]

Hi everyone, first time time poster.
First of all thank you to everyone who has taken the time to explain all things cloud mining, its been very informative and useful.

I did have one question on the subject of luck (appreciate this doesn't affect my returns) I was looking at info in the Blocks tab on the Pool Statistics section on left hand side of Dashboard. I don't know how average luck is calculated/weighted but it just doesn't look right to me. Block 474074, for example, 2000+% luck but average barely moved. Block 474129 125% luck but average luck went down.
No doubt I'm missing something obvious, but just curious what it is!

Duke

[Neoclassical]

Hi everyone, first time time poster.
First of all thank you to everyone who has taken the time to explain all things cloud mining, its been very informative and useful.

I did have one question on the subject of luck (appreciate this doesn't affect my returns) I was looking at info in the Blocks tab on the Pool Statistics section on left hand side of Dashboard. I don't know how average luck is calculated/weighted but it just doesn't look right to me. Block 474074, for example, 2000+% luck but average barely moved. Block 474129 125% luck but average luck went down.
No doubt I'm missing something obvious, but just curious what it is!

Duke

Would also like to know this.

[zowki]

I don't know how average luck is calculated/weighted but it just doesn't look right to me. Block 474074, for example, 2000+% luck but average barely moved. Block 474129 125% luck but average luck went down.

Average luck is calculated from the last 100 blocks. The average luck went down at block 474129 because 100 blocks back, the luck was even higher.

[fabiocardozo]

I am worried about the decrease so great that my payments have had, keep going down even more, buy 5TH/s , and the truth every time I see more difficult to recover my investment
=(

[mel]

I am worried about the decrease so great that my payments have had, keep going down even more, buy 5TH/s , and the truth every time I see more difficult to recover my investment
=(

Don't despair, the price of bitcoin is dropping due to speculators exiting the crypto market. Coinmarketcap shows bitcoin dropping way less than the market overall. Bitcoin will go back up and the maintenance fee will drop.

Fortunately/unfortunately the block bonus may not come back up to 20% since transaction fees are low and may stay low depending on how this scaling business plays out. Let's just watch and hope to be surprised by the bitcoin price quickly rebounding.

[rogerver]

We just added an additional 50P of pre-sale hash rate at our lowest price ever. $119/TH.
Contracts start Sept 30th.

[GreyWyvern]

We just added an additional 50P of pre-sale hash rate at our lowest price ever. $129/TH.
Contracts start Sept 30th.

Hey Roger. The Lifetime contracts used to be $129 per TH/s so this is not really your lowest price ever. Also, it's tough to judge whether it's a good deal to buy such a plan when we have no idea what the price will be by Sept 30th. I mean, ANYTHING could happen after Aug 1st.

I'm concerned that there are extra variables I need to add to my tool. Where can I learn more about "luck" and how it affects PPS earnings? According to my estimation tool, the last difficulty change was negative, so returns should have gone up. Instead they went down, by about 12%. So I'm definitely not accounting for something.

[mel]

I'm concerned that there are extra variables I need to add to my tool. Where can I learn more about "luck" and how it affects PPS earnings? According to my estimation tool, the last difficulty change was negative, so returns should have gone up. Instead they went down, by about 12%. So I'm definitely not accounting for something.

Have you accounted for the change in the block payout? It went from 120% to 110%. If block rewards go back up to around 15btc due to expensive transaction fees this pool may increase it to 120% again, but my personal prediction is that high transacton fees are behind us.

The PPS Is not affected at all by luck.

[rogerver]

Hey Roger. The Lifetime contracts used to be $129 per TH/s so this is not really your lowest price ever.

You are right, so I just dropped it to $119.
The luck of our pool doesn't affect the PPS payout in any way. (Of course I like to be lucky more than not)

[Sirslicey]

We just added an additional 50P of pre-sale hash rate at our lowest price ever.
Contracts start Sept 30th.

Very interesting option Roger! However, I'm not totally sure where the potential value for such a contract lies. It seems like you save $30 per TH/s however you are (as of today) waiting about 80 days until the contract starts. That is a lot of missed returns in that time frame.

Is there something I'm missing? Where is the gamble?

[GreyWyvern]

Very interesting option Roger! However, I'm not totally sure where the potential value for such a contract lies. It seems like you save $30 per TH/s however you are (as of today) waiting about 80 days until the contract starts. That is a lot of missed returns in that time frame.

Is there something I'm missing? Where is the gamble?

The gamble is on what happens after August 1st. This is also a gamble for pool.bitcoin.com as well.

If SegWit2x has big problems and the price of BTC drops considerably (or even stays the same), you've lost a LOT of value in terms of BTC. But OTOH, if SegWit2x is a big success and the price of BTC doubles in the two months from August 1st to Sept 30th, then pool.bitcoin.com will have sold these contracts at a ludicrous discount.

Remember that while the initial price appears cheaper, there will be ~six difficulty increases between now and then, so the Current Daily Return by then (assuming average historical difficulty increases) for 50 TH/s will be something like 0.01405676 instead of 0.01951600 like it is now. My estimation tool isn't very great at predicting the future that far ahead, but all historical things considered, 1 BTC will need to be worth $3,818 USD by Sept 30th (and continue to increase) in order for you to break even on one of those contracts. Any value over that will quickly increase your ROI. A BTC value of $5,000 on Sept 30th will give you an almost 60% ROI in terms of BTC!

If you're optimistic about SegWit2x then buy. For those of us who are a bit nervous about the change, I don't think the Lifetime pre-orders are a good deal. I am a slow and steady type of investor

[mel]

Very interesting option Roger! However, I'm not totally sure where the potential value for such a contract lies. It seems like you save $30 per TH/s however you are (as of today) waiting about 80 days until the contract starts. That is a lot of missed returns in that time frame.

Is there something I'm missing? Where is the gamble?

The gamble is on what happens after August 1st. This is also a gamble for pool.bitcoin.com as well.

If SegWit2x has big problems and the price of BTC drops considerably (or even stays the same), you've lost a LOT of value in terms of BTC. But OTOH, if SegWit2x is a big success and the price of BTC doubles in the two months from August 1st to Sept 30th, then pool.bitcoin.com will have sold these contracts at a ludicrous discount.

Remember that while the initial price appears cheaper, there will be ~six difficulty increases between now and then, so the Current Daily Return by then (assuming average historical difficulty increases) for 50 TH/s will be something like 0.01405676 instead of 0.01951600 like it is now. My estimation tool isn't very great at predicting the future that far ahead, but all historical things considered, 1 BTC will need to be worth $3,818 USD by Sept 30th (and continue to increase) in order for you to break even on one of those contracts. Any value over that will quickly increase your ROI. A BTC value of $5,000 on Sept 30th will give you an almost 60% ROI in terms of BTC!

If you're optimistic about SegWit2x then buy. For those of us who are a bit nervous about the change, I don't think the Lifetime pre-orders are a good deal. I am a slow and steady type of investor

This really is an interesting option! Another outcome is if the network hard forks and this pool mines the BU side of the fork. Then the same 50TH will get way more BTU than it will BTC-no-hardfork because the total network hash power will be split (not saying BU won't get the BTC name, just calling it BTU for clarity.) In this scenario, we would have bought the lifetime BTU contract with the pre-fork, higher value bitcoins! A good deal for anyone wanting BU coins as opposed to segwit coins who thinks there will be a hard fork.

However I will hold my coins because I want to have them on both prongs of the fork, and can (I hope) sell the segwit coins for BU coins directly if it comes to that. But I am very intrigued by this gamble.

[Markwell]

Greywyvern,

Your tool is really useful however it only accounts for initial cost in fiat and not bitcoin equivalent at the date of purchase leading to large ROI differences on bitcoin returns.

[elea]

can any1 explain me how this lifetime contract work at all?

im really sorry for asking this but im pretty new in this btc thing. so i wonder; when i buy a lifetime contract from bitcoin.com pool, what will it give to me?

will it mine for me on a cloud server and provide me some btcs everyday? or will it just give me an access to a certain pool, and let me mine with my own device.

i am asking these because its important for me since i dont have a proper machine to mine. i tried with my own pc with niceash's miner program but it was like just 0.06$/day. so basically; it was not even worth the electricity i spent and plus i was not able to use my pc anymore since the cpu usage meters hit up.

can someone explain please?

[c0207148]

Hi :


"
you will get hashrate mined for you and provide you some btcs everyday "

[syedadeelhaider]

HOW TO WORK IN THIS POOL PLEASE EXPLAIN ME ? AND WHAT IS MEAN OF INVITATION? HOW MUCH PROFIT WE GET ON WHAT INVESTMENT PLEASE EXPLAIN THANK YOU

[bitkilo]

can any1 explain me how this lifetime contract work at all?

im really sorry for asking this but im pretty new in this btc thing. so i wonder; when i buy a lifetime contract from bitcoin.com pool, what will it give to me?

will it mine for me on a cloud server and provide me some btcs everyday? or will it just give me an access to a certain pool, and let me mine with my own device.

i am asking these because its important for me since i dont have a proper machine to mine. i tried with my own pc with niceash's miner program but it was like just 0.06$/day. so basically; it was not even worth the electricity i spent and plus i was not able to use my pc anymore since the cpu usage meters hit up.

can someone explain please?

Hello,

Our lifetime plans are named as such because they will run until no longer profitable, that means when the daily fee exceeds the daily revenue of the plan. We estimate that our lifetime plans should run for about ~1.3 years.

You will need to purchase a cloud mining contract to mine on the Bitcoin.com mining pool as we do not support CPU or GPU mining.
You can view the prices of all our contracts here: https://pool.bitcoin.com/index_en.html#buyhashrate , just adjust the slider bar on the plan you wish to purchase and you will see the USD/BTC value change.

HOW TO WORK IN THIS POOL PLEASE EXPLAIN ME ? AND WHAT IS MEAN OF INVITATION? HOW MUCH PROFIT WE GET ON WHAT INVESTMENT PLEASE EXPLAIN THANK YOU

To learn more about bitcoin mining please have a look at the following link: https://www.bitcoin.com/bitcoin-mining

This thread is about the Bitcoin.com mining pool, you can view the prices of all our contracts here: https://pool.bitcoin.com/index_en.html#buyhashrate

[GreyWyvern]

Greywyvern,

Your tool is really useful however it only accounts for initial cost in fiat and not bitcoin equivalent at the date of purchase leading to large ROI differences on bitcoin returns.

I'm not sure what you mean by this. The tool takes the initial cost and puts it in terms of BTC using the price vs USD at the start of the contract. You can even adjust the starting price of BTC vs USD if you want to estimate contracts bought at past or future prices.

Can you elaborate on what you were saying?

[Markwell]

Sure thing, the initial cost is USD and your calculator bases the cost of the contract in BTC at the current USD rate rather than the BTC/USD rate at the time of purchasing the contract. Even if we were to adjust the BTC value to the valur on date of purchase the increase of over time % would be based on a historical price rather than the current constant.

Would it be possible to implement the price of the contract in USD with an option to enter the amount of BTC spent if the purchase was made in BTC?

Edit: apologies as I've realised I could be misinterpreting the use of the calculator because it works for the point of initial purchase but not as a way to track the ROI statistics at a given time after purchase, you would also need to have an input for earnings to date. Maybe something you'd be interested in developing:D?

[GreyWyvern]

Sure thing, the initial cost is USD and your calculator bases the cost of the contract in BTC at the current USD rate rather than the BTC

I'm still confused, or misunderstanding. That's what it's supposed to do. When you buy a contract, pool.bitcoin.com will charge you an amount of BTC with a USD value equal to the current BTC/USD exchange rate.

If you already bought a contract, and know exactly how much BTC you paid, you can do this:

Go to the "Purchased Contracts" page, and you will see the amount in USD your current plan(s) cost. If you expand the dropdown of the plan, you will see exactly how much BTC you paid for it. If you divide the USD Initial Cost by the amount of BTC you paid, you will get the exchange price of BTC on the day you bought the plan.

Take that number and paste it into the tool in place of the USD value of 1 BTC and then the Initial Cost you provide will match with the BTC you actually paid.

Hope that helps!

[Markwell]

Sure thing, the initial cost is USD and your calculator bases the cost of the contract in BTC at the current USD rate rather than the BTC

I'm still confused, or misunderstanding. That's what it's supposed to do. When you buy a contract, pool.bitcoin.com will charge you an amount of BTC with a USD value equal to the current BTC/USD exchange rate.

If you already bought a contract, and know exactly how much BTC you paid, you can do this:

Go to the "Purchased Contracts" page, and you will see the amount in USD your current plan(s) cost. If you expand the dropdown of the plan, you will see exactly how much BTC you paid for it. If you divide the USD Initial Cost by the amount of BTC you paid, you will get the exchange price of BTC on the day you bought the plan.

Take that number and paste it into the tool in place of the USD value of 1 BTC and then the Initial Cost you provide will match with the BTC you actually paid.

Hope that helps!

I have rewritten my post - Mobile prematurely submitted! I'll check the calculator out again I might have missed something.

[Markwell]

Sure thing, the initial cost is USD and your calculator bases the cost of the contract in BTC at the current USD rate rather than the BTC

I'm still confused, or misunderstanding. That's what it's supposed to do. When you buy a contract, pool.bitcoin.com will charge you an amount of BTC with a USD value equal to the current BTC/USD exchange rate.

If you already bought a contract, and know exactly how much BTC you paid, you can do this:

Go to the "Purchased Contracts" page, and you will see the amount in USD your current plan(s) cost. If you expand the dropdown of the plan, you will see exactly how much BTC you paid for it. If you divide the USD Initial Cost by the amount of BTC you paid, you will get the exchange price of BTC on the day you bought the plan.

Take that number and paste it into the tool in place of the USD value of 1 BTC and then the Initial Cost you provide will match with the BTC you actually paid.

Hope that helps!

I tried what you suggested and it's a good workaround! What are your thoughts on adding a btc earned to date?

[GreyWyvern]

I tried what you suggested and it's a good workaround! What are your thoughts on adding a btc earned to date?

I don't know. If more people ask for it, perhaps. But I really don't think it's within the scope of what the tool estimates. It just does whole contracts.

[hosul]

Very interesting option Roger! However, I'm not totally sure where the potential value for such a contract lies. It seems like you save $30 per TH/s however you are (as of today) waiting about 80 days until the contract starts. That is a lot of missed returns in that time frame.

Is there something I'm missing? Where is the gamble?

The gamble is on what happens after August 1st. This is also a gamble for pool.bitcoin.com as well.

If SegWit2x has big problems and the price of BTC drops considerably (or even stays the same), you've lost a LOT of value in terms of BTC. But OTOH, if SegWit2x is a big success and the price of BTC doubles in the two months from August 1st to Sept 30th, then pool.bitcoin.com will have sold these contracts at a ludicrous discount.

Remember that while the initial price appears cheaper, there will be ~six difficulty increases between now and then, so the Current Daily Return by then (assuming average historical difficulty increases) for 50 TH/s will be something like 0.01405676 instead of 0.01951600 like it is now. My estimation tool isn't very great at predicting the future that far ahead, but all historical things considered, 1 BTC will need to be worth $3,818 USD by Sept 30th (and continue to increase) in order for you to break even on one of those contracts. Any value over that will quickly increase your ROI. A BTC value of $5,000 on Sept 30th will give you an almost 60% ROI in terms of BTC!

If you're optimistic about SegWit2x then buy. For those of us who are a bit nervous about the change, I don't think the Lifetime pre-orders are a good deal. I am a slow and steady type of investor

This really is an interesting option! Another outcome is if the network hard forks and this pool mines the BU side of the fork. Then the same 50TH will get way more BTU than it will BTC-no-hardfork because the total network hash power will be split (not saying BU won't get the BTC name, just calling it BTU for clarity.) In this scenario, we would have bought the lifetime BTU contract with the pre-fork, higher value bitcoins! A good deal for anyone wanting BU coins as opposed to segwit coins who thinks there will be a hard fork.

However I will hold my coins because I want to have them on both prongs of the fork, and can (I hope) sell the segwit coins for BU coins directly if it comes to that. But I am very intrigued by this gamble.

This pool sure mine alternative chain only after fork?

When I use calculator, what is good "% daily chg. BTC vs USD"? With 0.1% i get results:

Results
Plan cost: 42.98814120 BTC
Payout:
30.00529152 BTC ($95343.61 USD)
Gain/Loss:
-12.98284968 BTC (-30.20% ROI)
$1818.61 USD (1.94% ROI)

1 BTC = $3177.56 USD
at end of plan
Lifetime Plan became unprofitable in
1.04 years (379 days)

[c0207148]

Yesterdat I saw in my account the estimated 24hr revenue is 0.000426116 btc.
Today in my account the pending payout for today is 0.0003440588 btc

Actually I expected that the pending payout for today is 0.000426116 btc
What is the reason for the differences ? Or am I misunderstanding something ?

[zowki]

Yesterdat I saw in my account the estimated 24hr revenue is 0.000426116 btc.
Today in my account the pending payout for today is 0.0003440588 btc

Actually I expected that the pending payout for today is 0.000426116 btc
What is the reason for the differences ? Or am I misunderstanding something ?

The pending PPS payout increases every hour until it is paid out.

Also, we just had a 13.5% difficulty increase: https://bitcoinwisdom.com/bitcoin/difficulty

[c0207148]

Yesterdat I saw in my account the estimated 24hr revenue is 0.000426116 btc.
Today in my account the pending payout for today is 0.0003440588 btc

Actually I expected that the pending payout for today is 0.000426116 btc
What is the reason for the differences ? Or am I misunderstanding something ?

The pending PPS payout increases every hour until it is paid out.

Also, we just had a 13.5% difficulty increase: https://bitcoinwisdom.com/bitcoin/difficulty

Thank you for your quick reply. In this case, the "estimated 24hr revenue" is not accurate at all...

[zowki]

Thank you for your quick reply. In this case, the "estimated 24hr revenue" is not accurate at all...

It is accurate for the current difficulty.

Yesterday we had a difficulty increase. If you try the revenue calculator again, it will reflect the new difficulty increase.

[Hitov]

Can I cancel my contracts and return BTC back?

[hosul]

Can I cancel my contracts and return BTC back?

If you have life time contracts and it is possible buy with escrow from pool.bitcoin.com. I can pay old price what was when had 20% bonus. $129 or what it was?