Bitcoin.com Mining Pool Official Discussion Thread

[mel]

we did get a difficulty reduction. 2 of them.

So I've been measuring time between each block and the block 5 before it, and thinking if these 6 blocks span more than 12 hours we get a difficulty reduction. It looks like in that table they are measuring the distance between a block and 6 blocks before it, which is the time span of SEVEN blocks.

I don't think we got any reductions.

Does the reduction take effect immediately upon the sixth block >12 hours being mined? That is what I thought. Why are there future blocks on the table?

Edit: It DID drop! Never been so happy to be wrong. Here are a couple useful articles on this for anyone interested:
https://medium.com/@jimmysong/bitcoin-c ... c589099a8e
https://medium.com/@BillionairePal/the- ... 5dcedb7fed

[chiemekailo_forum]

I have a cloud mining account for 12TH/s. It started with a PPS (before mtc fee) of 0.00511334 BTC at 120% block reward. Now the same plan is doing 0.00351035 BTC at 100% reward.
Now, 0.00511334 - 0.00351035 = 0.00160299, which is 45.66% of 0.00351035 BTC.
How can a PPS return from 120% to 100% be up to a 45.66% drop in our BTC earnings? Am I missing something in the payment formula.? This all excludes mtc fees.

Earlier, on August 2nd, the pool said:

Just wanted to provide an update letting you know that we have had to reduce the block reward back down to 100% since transaction fee rewards significantly reduced after the BCC hard fork.

...and that was when the 12TH/s PPS dropped to 0.00351035 BTC. Am I missing something in the payment formula???

[jedimstr]

So with the latest additional difficulty drops and more Bitcoin Cash hashpower coming online in other pools (and the Hostel owner from Hong Kong), I see most of the Bitcoin.com hashrate that was mining BCC is back on BTC now. Is everyone just waiting for the forward facing UI changes to show Account stats to go live? Shouldn't we be trying to grab blocks while we can before more mining pools come onboard while difficulty is down?

[sayurichick]

So with the latest additional difficulty drops and more Bitcoin Cash hashpower coming online in other pools (and the Hostel owner from Hong Kong), I see most of the Bitcoin.com hashrate that was mining BCC is back on BTC now. Is everyone just waiting for the forward facing UI changes to show Account stats to go live? Shouldn't we be trying to grab blocks while we can before more mining pools come onboard while difficulty is down?

i agree, and it does seem BCC hash rate is increasing. last two times i checked.

[Cassey]

Back when I see a payout. Hash is too expensive to dedicated without that, or stats.

[PSD13]

Greetings... please add the info panel which coin is currently more profitable for mining - btc or bcc - in % function or +- profits

[GreyWyvern]

Greetings... please add the info panel which coin is currently more profitable for mining - btc or bcc - in % function or +- profits

You can find that info on the coin.dance site here: https://cash.coin.dance/blocks

[PSD13]

Greetings... please add the info panel which coin is currently more profitable for mining - btc or bcc - in % function or +- profits

You can find that info on the coin.dance site here: https://cash.coin.dance/blocks

Thanks for link! This info "It is currently 109% more profitable to mine on the original chain" or something similar or automatic changer of chain would be good.

[captgnh]

I'm new on this pool and need some clarification. I am mining BCC right now. In settings I have added a BCC receiving address. I just added BTC mining as a failover, but when I switch to the BTC pool my receiving address is the same as BCC. Shouldn't I be able to add a BTC receiving address in that setting configuration?

[Cassey]

Unfortunately, this pool hasn't finsihed the conversion to BCC. You can mine it, but no real stats beyond your hash power are shown. There are other issues like you noticed: BCC and BTC deposit addresses are the same... last block mined is the same... etc.

[rogerver]

I just wanted to let everyone know that we are actively monitoring this thread and implementing feature requests as fast as possible.

[thallios]

New to bitcoin.com and cloud mining. From what I can tell, at this point, investing in bitcoin cloud mining seems to be more about supporting the bitcoin infrastructure than earning money on an investment. In looking at the different plans offered in the bitcoin.com cloud mining pool, and plugging them into GreyWyvern's calculator, not a single plan will deliver more BTC than you put into it. (Unless I am missing something, or not using the calculator correctly, I left it on the default settings assuming that they were the broad averages.)

If that is indeed true, what keeps all of you investing in the cloud mining pool?

If I'm wrong, what am I missing?

I'm really hoping I'm wrong because I like the idea of supporting cryptocurrency, but I want to make sure I'm at least making something back on my investment that would be more than just buying bitcoin directly.

[Cassey]

Good to know Roger. Please add number of miners active on each pool, pool hashrate, and for BCC something like "blocks found in last 12 hours". A real nice expectation setter would be to do the math and display expected blocks/week found by the pool based on pool hashrate. Believe you already spotted my comment about keeping transaction fees. How about splitting those 50/50? I know you need to earn a living, but those fees are becoming a larger and larger part of the payout. It would also make you stand out amoungst pools... Alternatively cap the overall fees to 5% of what is earned in block reward PLUS transaction fees - or something like that.

[zepto]

I just wanted to let everyone know that we are actively monitoring this thread and implementing feature requests as fast as possible.

I'm sure that you understand fast is not more important than good. I am prepared to wait for good. (And yes, even though I spent time mining BCC with you during the split).

[shadrachogiriki]

I am new to btc mining, I need coaching pls

Thanks

[mel]

I am new to btc mining, I need coaching pls

Thanks

Just read through this whole thread, start to finish. Many questions have already been answered. You can also click "Start here" at the top of the page and get more beginner's resources.

[sayurichick]

i have been informed by support that we will not be seeing any returns of the bitcoin cash mining...

The reason I chose to mine bitcoin cash at a loss was for those tokens (there's at least 50 bcc in their wallet) .

My contract has only been a week or so , is it possible to get a partial refund and cancel?

[GreyWyvern]

New to bitcoin.com and cloud mining. From what I can tell, at this point, investing in bitcoin cloud mining seems to be more about supporting the bitcoin infrastructure than earning money on an investment. In looking at the different plans offered in the bitcoin.com cloud mining pool, and plugging them into GreyWyvern's calculator, not a single plan will deliver more BTC than you put into it.

My tool is a bit less relevant these days because of the unpredictability of Bitcoin vs. Bitcoin Cash.

However, zowki noted earlier that historical difficulty increases (>5%) have been relatively high and probably not sustainable. He estimated that the average difficulty increase for BTC should settle between 2% and 3% IIRC. In that case, the lifetime plans at pool.bitcoin.com should become profitable in terms of BTC.

You're partially correct in that a lot of it is about supporting the Bitcoin infrastructure, especially putting your money behind an organization voting for big blocks and Satoshi's original vision. But depending on your outlook, it can also be profitable; don't rely too heavily on the historical values for difficulty and BTC price increase.

[sayurichick]

how is it going to be profitable if we dont get any of the bitcoin cash tokens the pool has mined?

[chiemekailo_forum]

In looking at the different plans offered in the bitcoin.com cloud mining pool, and plugging them into GreyWyvern's calculator, not a single plan will deliver more BTC than you put into it.

Personally, I don't understand the calculator myself. I reasoned that people won't be mining at all if the outcomes of the calculator were the case (no offence @GreyWyvern ). In all fairness, I do believe it is difficult for the calculator to predict accurately because it may be trying to determine very irregular and non-linear interactions by a model that is at best linear (the periodic guesstimated values over time.)

I use spreadsheets and charts to predict future expectations, and I'm comparing the real outcomes with both my predictions and the calculator predictions. It has been 2 months now and I'm not too off track (I need to be way off track for the calculator to be correct). In fact, my shift from expected can be well explained by the drop back from 120% to 100% reward due to reducing transaction fee earnings by the pool, as I started tracking from the 120% period.
I am still working the data and in time I will be able to say how my tracking has worked out for me.

You may also want to check out other prediction wares...,
https://bitcoinwisdom.com/bitcoin/calculator
https://btc.com/tools/mining-calculator
Since these calculators are designed to accommodate the use of mining hardware (e.g.. Antminers), you will have to adjust for certain measures such as replacing "Hardware Price" with your Cost to purchase your hashrate, and set delivery, setup & maintenance costs to zero. Electricity price will be the pool's fee for your purchased hashrate. etc.

[mel]

how is it going to be profitable if we dont get any of the bitcoin cash tokens the pool has mined?

You have to pay your share of the electricity bill. You pay with what you mine, so ALL of your (currently undervalued) BCC were sold immediately for fiat to pay the bill. They then footed the overage, per their policy, as I doubt it even covered the electricity to run your hash rate.

You pointed out that you would be mining "at a loss." There is no profit for anyone, including pool.bitcoin.com, if it is at a loss. There is still time to mine some BTC and sell it for BCC at an exchange before BCC becomes the more profitable chain to mine.

[jedimstr]

Another aspect to all of this is that the hostel/unknown miner from Hong Kong is taking majority of the blocks/hashrate on the BItcoin Cash chain, basically controlling the difficulty adjustment activations. Via, Bitcoin.com and others need to counter this potential >51% attack vector soon.

So what's the ETA on actually getting BCC stats/payments at least on parity with BTC for the pool? Can the "newer" features mentioned here wait until parity feature set and stats are live?

[GreyWyvern]

I would like some sort of option where, if Bitcoin.com decides to officially abandon Segwit2x and move the bulk of their hashpower to BCH, my cloud mining contract gets immediately switched with it. Any chance for that?

[chiemekailo_forum]

I would like some sort of option where, if Bitcoin.com decides to officially abandon Segwit2x and move the bulk of their hashpower to BCH, my cloud mining contract gets immediately switched with it. Any chance for that?

I dont intend to abandon BTC completely at all. Is this intended at all here? I think it is just best to be able to switch between both chains individually to maximise profits.

[GreyWyvern]

I would like some sort of option where, if Bitcoin.com decides to officially abandon Segwit2x and move the bulk of their hashpower to BCH, my cloud mining contract gets immediately switched with it. Any chance for that?

I dont intend to abandon BTC completely at all. Is this intended at all here? I think it is just best to be able to switch between both chains individually to maximise profits.

pool.bitcoin.com will always give you the choice of what chain to mine. But right now the bulk of their hashpower (like 98%) that isn't sold via cloud contracts, is pointed to the legacy chain. That means that even if you DO point your cloud mining hashrate at BCH, you likely won't make much because while Bitcoin Cash's difficulty is only 13% of the main chain, Bitcoin.com is only attacking it with 2% of its total hashrate. Bitcoin.com isn't going to find the same number of blocks on the BCH chain as the BTC chain as it stands.

Once (if?) they switch all their main hashpower to BCH, they will find blocks at a much higher rate and it will be more profitable to cloud mine it.

I just would like the option to have my cloud mining contracts follow the bulk of Bitcoin.com's mining pool. I don't want them to force their cloud miners to switch.

[Neoclassical]

So with the latest additional difficulty drops and more Bitcoin Cash hashpower coming online in other pools (and the Hostel owner from Hong Kong), I see most of the Bitcoin.com hashrate that was mining BCC is back on BTC now. Is everyone just waiting for the forward facing UI changes to show Account stats to go live? Shouldn't we be trying to grab blocks while we can before more mining pools come onboard while difficulty is down?

i agree, and it does seem BCC hash rate is increasing. last two times i checked.

Yeah, we just have to give it more time.

[sayurichick]

how is it going to be profitable if we dont get any of the bitcoin cash tokens the pool has mined?

You have to pay your share of the electricity bill. You pay with what you mine, so ALL of your (currently undervalued) BCC were sold immediately for fiat to pay the bill. They then footed the overage, per their policy, as I doubt it even covered the electricity to run your hash rate..

I don't think this is true.
The BCC are still visible on their wallet. it hasn't moved.

Also, at the time they were under the 100 block rule and could not be sold anyways.

[mel]

how is it going to be profitable if we dont get any of the bitcoin cash tokens the pool has mined?

You have to pay your share of the electricity bill. You pay with what you mine, so ALL of your (currently undervalued) BCC were sold immediately for fiat to pay the bill. They then footed the overage, per their policy, as I doubt it even covered the electricity to run your hash rate..

I don't think this is true.
The BCC are still visible on their wallet. it hasn't moved.

Also, at the time they were under the 100 block rule and could not be sold anyways.

That is a matter of internal accounting. Whether they actually paid your electricity bill that day or a week later, whether they paid it with BTC or BCC or fiat on hand doesn't affect the policy.

We pay $0.28 per TH per day for our contracts directly out of the daily revenue, converted to fiat at the current rate. I don't remember which, but they state the exchange that they use for conversion rates and the exact time every day that they take the rate. BCC may not have been on that exchange yet, but it wasn't even close to profitable so don't get too stuck on it. I recommend reading the policy now, because they don't give refunds and you are in for the full duration.

If I misrepresented anything, I hope the staff will correct it. I am just a contract customer like you : ) BCC is still less profitable to mine than BTC and likely will be for about another week.

[thallios]

My tool is a bit less relevant these days because of the unpredictability of Bitcoin vs. Bitcoin Cash.

However, zowki noted earlier that historical difficulty increases (>5%) have been relatively high and probably not sustainable. He estimated that the average difficulty increase for BTC should settle between 2% and 3% IIRC. In that case, the lifetime plans at pool.bitcoin.com should become profitable in terms of BTC.

You're partially correct in that a lot of it is about supporting the Bitcoin infrastructure, especially putting your money behind an organization voting for big blocks and Satoshi's original vision. But depending on your outlook, it can also be profitable; don't rely too heavily on the historical values for difficulty and BTC price increase.

Thank you, that makes sense and is good to hear. I have to say this is one of the most helpful forums I've seen on any topic. A lot of good information here.

[deltazulu]

Before starting mining Bitcoin Cash with pool.bitcoin.com, is it critical to create a new Bitcoin Cash wallet and receiving address? Or can the funds accumulate in the site somehow first? Currently unsure which wallet is safe to use and was considering Electrum Cash, but there's some warnings about it (https://electrum.org/bcc.txt) and (https://electrum.org/bcc2.txt).