Status as of Friday, June 1, 2018

[Steve Sokolowski]

Good morning! Here's what's up today.

• Charity mining is about 10 days away from release. We'll be posting a poll to narrow the charity list soon.
• Vance has made a lot of progress with saving money on the backend. He's currently implementing code to automatically disable exchanges within 5 minutes of wallets becoming locked. Currently, Chris has to manually determine when wallets are locked, wasting lots of time and money. For those who aren't aware, many exchanges illegally allow trading while disallowing deposits and withdrawals; this is called a locked wallet. Some are so unethical as to make it difficult to actually determine whether a wallet is locked or not.
• Since there has been three days of full stability now after the last major release to obtain accurate hashrates, I ran some initial queries and determined that NiceHash miners who connect for short periods of time are now being paid about 12% less than they were before, and their new level of earnings is accurate based upon the actual money they earn. However, the data now is not yet statistically significant. If it holds through the end of the weekend, next week we will begin passing on an estimated 3% to customers.
• My task over the weekend will be to determine why the mining servers still continue to disconnect from WAMP periodically, causing various system issues. I had thought it was miners who have lots of rigs connected trying to obtain WAMP data for them, but I watched the calls and the execution time for that is trivial, so I'm still missing something. I had hoped to get ASICBOOST added this week, but unfortunately that will be delayed until next week.
• Constance made some changes to our block explorers. Now, you'll be able to search in one text field and it will determine what type of item you are searching for, instead of having to specify whether it is a wallet or block or anything else.

[o51888]

Reduce the reward of the nicehash miner? And reduced 12% of the reward? Like me, I am also a nicehash miner, but the average long-term hash rate is close to 7% to 8% of the x11 mine. Also be reduced to pay?

Why reduce the reward of the Niehash miner?

[CSZiggy]

why bother, no one cares.

[o51888]

Nicehash users were connecting in, and it wasn't just nicehash, any user connecting in with a large hashrate, were not being added to the system already hashrate to produce the correct profit payouts. They changed how their system figures out when new hashrates are added.


So before there was 1000 hash. Then nicehash would send another 200 more hash, but the system would still be paying out like only 1000 hash was on the system. All that changed is the system can now count that extra 200 more hash being added, and now uses 1200 hash to figure out how much profit to pay each miner.

So it's not NICEHASH that was punished, any large quantity of hash used to get more profit than it should have gotten because the pool didn't used to count the correct hashrate, and now it does, so you aren't paid less, you are paid what you SHOULD have been getting paid. SO before you were being OVERPAID and now its just normal.

The pool owners hope that now that (large new hashrates being added) aren't being overpaid 12%, that those 12% of profit can be distributed amongs all the miners across the whole day. So new hashrate added doesnt get 12% more, it just gets normal payouts now, and that 12% can go to the miners over the rest of the day, once the compute how much more to add on to everyone.

Thank you for your answer. My English is not very good, I didn't see it too well. What do you mean is that after this system update, the reward of the Nieshash miners will be less than before? And give it to other miners?

[CSZiggy]

why bother, no one cares.

[o51888]

Yes it will be much less than it was before. Before it was paying too much.
Now it is fixed and will pay just the right amount.

Thanks CSZiggy! Hopefully, do not reduce the rewards of the Nicehash miners. Because we are very risky and our profits are low. Now that the mining pool system has been renewed, there has been no profit and it is close to a loss.

Also, would you like CSZiggy, are you also a nicehash miner? How can I connect to the pool's Equithash algorithm? Please see this link: viewtopic.php?f=16&t=5339

[CSZiggy]

why bother, no one cares.

[o51888]

You would need to rent equihash miners from nicehash in order to mine equihash, you can't rent scrypt or sha-256 bitcoin miners and use them on the equihash algo. If you think the profits on scrypt are low, I do not think equihash has any higher of a payoff rate.
I would think if you cant get profit from scrypt you can't get a profit from equihash either, its margin seems much lower.


No, I do not use nicehash. I used to send hashingpower over to nicehash but have not used them since they got hacked and everyone lost money on their site. Until they get it all paid back I will not use their services. Due to how much profits are and how much I have to pay for electric, I turned my miners off last week. There is no sense paying $140 dollars in electric to mine 1 coin only worth $122. I'll just pay the $122 and buy the coin and not pay for the electric or the cooling to keep machines on and save my money by not running the miners.

I did buy the power of the Equithash algorithm and connected it to the prohashing mine pool, but it always showed an error and could not connect.