Explain the "Date Time Difficulty Yield (Estimated)" in more details in http://www.groupfabric.com/pool/
The table has "yield" units which seem to keep decreasing,
they were once 0.4 satoshies
then decreased to 0.3 satoshies a couble of months ago
yesterday to 0.2
and now to 0.1
What's going on?
Bitcoin Miner has been discontinued. Please see https://www.groupfabric.com/pool/ for shutdown information.
thanks for the explanation Mr Alex ( founder Group Fabric )
well I have mined 4.126 sats over a 6montth period that works out 0000.2 pence sterling don't it
Also, we are working on several projects to boost mining performance, but this R&D intensive and something that takes time.
Yeah my yields are tanking bad.
Additionally, I have watched the miner and each time I get fluctuated difficulty rate which is switching around and retracting the Satoshi values mined. Like I might go up to say 14.653 and then the difficulty changes and retracts the work done to the previous unit value of say 14.324 until it finds an accepted packet and does this continued build and retract each time the difficulty is changed. But its not sending a high rejection. Why ?
Additionally why is the yield as you are indicating tied to the price of the coin. The price of the coin should have nothing to do with yield (difficulty and hash rate would affect yield). Unless we are mining in an alternative currency and converting based on your logic below that is what you are stating.
And in turn I will state that if that is the case then why is the app called Bitcoin Miner and not Litecoin to bitcoin hash conversion miner.
Complete waste of time and electricity with that 0.2 yield (estimated). I suppose that the problem becomes from the less people that are mining more than the increased difficulty.
Also turnned mine off when i got home from work and seen i only farmed 300 in 14 hrs complete waste of time went back to nice hash witch pays me around 50c a day
Matteo Lovato commented
Thanks for the explanation.
Now the yeld is back to 0.2 Sat.
To make it easy: when the value grow up quickly the yeld goes down; when the BTC value decrease and became stable the yeld increase. It is correct?
Bitcoin Miner's default pool is a multi-pool which means it has your miner mine whatever it can get you the best return on.
Let's take Litecoin as an example (one of the Scrypt currencies) -
The current Litecoin network difficulty is 1034767. Litecoin rewards 50 LTC per block, and has an exchange rate right now of ~0.01 BTC/LTC.
To get the average number of hashes per block from a Litecoin network difficulty, you multiply by 2^32 or 4294967296, so 1034767 * 4294967296 = 4,444,290,423,980,030 hashes on average to earn 50 a block reward of LTC.
Stratum (the standardized mining protocol uses 65536 Scrypt hashes as a difficulty 1).
To compute what a difficulty 1 share is worth at face value:
65536 Difficulty 1 Scrypt Hashes / 4,444,290,423,980,030 Litecoin Scrypt Hashes * 50 LTC per Block * 0.01045 BTC/LTC exchange rate * 100,000,000 Satoshis / BTC = ~0.0008 Satoshis per share @ difficulty 1.
When you are getting yields of .1 or .2 or .3 Satoshis / share it means you are getting very good yields relative to the work your miner is performing (considering a face value of 0.0008 Satoshis/share).
Additionally, the mining pool carries all of the exchange arbitrage risk so when the Bitcoin price goes up by over 1000$ in a couple days and yields drop, that just ends up being a reality of living in a world where prices are not constant.
A simple understanding would say that if Bitcoin price goes up 2x then yields should only go down by half, however if the pool algorithms have reserves and are betting that the price will go down, it can allow yields to temporarily stay higher than they should be. When you additionally add in leverage, you can get situations where the pool payout yields higher than the face value over sustained periods of time, which then ends up being a cost that we end up paying.
Value of bitcoin certainly didn't go up by 3x and difficulty didn't just triple.
I turned off the things I had running.
Same here... A couple of days ago, my computer was producing 1000 satoshis/day, now 300 satoshis/day!!!
Matteo Lovato commented
I agree! What's going on???????