AdminAlex (CEO / Founder, GroupFabric)

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  1. 25 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    It's something we want to add eventually - Microsoft recently banned on-device mining from Microsoft Store apps which forced us to replace on-device mining with cloud mining.

    Our current priority is restoring on-device mining for users with an add-on from our website, then improving yields with newer hashing algorithms.

    After that we want to give users the ability to tune their payout frequency so they can minimize wallet fees, and after that offer an Android version.

    Additionally we also want to have an affiliate program so users can also have another way to be successful like you mention.

    Everything we're working on right now is to make the mining experience better and more profitable for users. There's only 24 hours in a day and it's a lot of code to write, but we are making progress slowly.

  2. 14 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Hi Justin, agreed - we're not happy with mining performance right now (Microsoft's recent ban of on-device mining meant we had to disable GPU and CPU mining, so right now hash rate is comming out of our own cloud).

    We're working on the add-on to re-enable on-device mining; it's a ton of code and we need to make sure it's done right. Hopefully in a month or two it will be ready.

    Best,

    Alex

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Justin Ferber/LuckeY - Bitspeed.io is requesting you to deposit Bitcoin in order to get permanent future payouts; that's likely a pyramid/ponzi scheme (if it's too good to be true...you know what they say).

    GroupFabric will never request payments for any sort of perpetual future payout. Our apps are free (ad-supported) and users keep what they mine.

    In the future we hope to offer some a way to turn off ads in exchange for a % of what is mined, but it's our belief that the core application should be free and we should only do well if users want to run our apps.

  3. 5 votes
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Do you mean labeling each share listed on the pool website? If so, that is something we do want to do!

  4. 20 votes
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    3 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We're working on a version where users can choose to disable ads in exchange for a % of what is mined.

  5. 189 votes
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    13 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    At the moment Google doesn’t allow miners on their Play store, so any miner we would develop would only be available via side-loading. Because of this we’re working on improving profitability for users by adding support for more mining algorithms like CryptoNight (Monero) and Ethash (Ethereum) over an Android version.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We're still working on it, but engineering resources are limited and most of our work as been focused on improving or maintaining profitability for users.

  6. 16 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We do have some items planned for website later this year - our first priority right now is improving yields for users with better mining algorithms.

  7. 22 votes
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    The reason it's hard to find shares on SHA-256 pools is that the default pool in Bitcoin Miner is actually a multi-pool, where it has your miner mine whatever is most profitable for your PC/Phone, and then converts it over to Bitcoin.

    When you directly mine SHA-256d, the hash rates will be higher but yields lower due to the much easier SHA-256d mining function. Directly mining SHA-256d means you end up competing with large datacenters filled with ASIC hardware coupled to dedicated power plants.

    What we're working on is improving the internal mining engines to support more currencies so users can use Bitcoin Miner to also mine PC friendly currencies like Monero and Ethereum.

    However to make it user friendly also requires a default mining pool (for users who don't want to deal with pool setup or other companies), and for this reason we no longer offer a Litecoin Miner since we'd then have to support more than one payout currency.

    On Dogecoin - we no longer offer Dogecoin Miner because Dogecoin was changed so that it could be earned when mining Litecoin (merge mined). Since most Litecoin pools allow dual mining of both Dogecoin and Litecoin, it didn’t make sense to have a standalone Dogecoin miner.

    Also, the Dogecoin project hasn’t been updated for over 3 years, so it’s fairly risky as there hasn’t been much developer support. You can view confirm this via their source code repository on GitHub at https://github.com/dogecoin/dogecoin.

  8. 119 votes
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    19 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    @ Matteo - it's a fair concern, we did do some upgrades over the past two weeks and yields have improved slightly. There's been an overall recession lately however we're continuing to work on improving yields.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Still working on the engineering for improved mining algorithms.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Yields have already gone up - also global mining difficulty is significantly higher than it was months ago which negatively affects yields.

    What will have the largest positive impact on yields is when we can get more mining engines online that support more currencies which is what we're currently working on.

    This is not something you can wish into existence. It takes months of real R&D to do.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Yes - we're hoping to see significantly improved yields within 1-3 weeks.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Yields are also affected by Bitcoin network fees - the Bitcoin network clears approximately 2000-3000 transactions every 10 minutes, and there are over 100,000 transactions in Bitcoin's queue right now. This number increases or decreases depending on how many people are sending transactions. For up to date stats on this, please see https://jochen-hoenicke.de/queue/#24h

    When fees are high yields will also go down, at the moment fees have been exceedingly high for the past two months.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    The default pool in Bitcoin Miner is a multi-pool, where it has your miner mine whatever is most profitable for your PC/Phone, and then converts it over to Bitcoin.

    Fees are good if they are on the currency you are mining (converting from - these add to the yield).

    Fees are bad if they are on the currency you are receiving (converting to - these remove from the yield and can slow payouts).

    Directly mining Bitcoin's SHA-256d hash algorithm would unlikely be profitable to PCs and Phones due to the extreme competition from datacenters filled with ASICs, coupled to dedicated power plants.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Another thing to note are the current status of network fees as incurred by the pool, you can monitor this here: https://jochen-hoenicke.de/queue/#24h

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    More math needed.

    Bitcoin dropped from 10k$ to 8k$ for ~10 minutes, then went up to 11k$/BTC.

    The yield of 0.2 Satoshis / Share @ difficulty 1 was at 7k$/BTC.

    The yield of 0.17 Satoshis / Share @ difficulty 1 represents a 15% drop, however going from 7k$/BTC to 11k$/BTC represents a 57% gain.

    Complaining about a 15% yield reduction when the underlying asset has experienced a 57% gain in short period of time doesn't make sense, since you're still earning 33% more (1.57 * .85 ~= 1.33).

  9. 10 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Kiriki is right - we mine the best currency available to try and get the best yield for users. Our main engineering focus is adding support for more currencies behind the scenes to improve yields further.

  10. 67 votes
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    12 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Owen - one thing to try is running in Power Saving mode and to test how much energy is being used over the baseline power of your machine. A cheap device for doing this in the states is the Kill-A-Watt ($15-$20), but your local hardware store should have something like this in the UK as well.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    I should also say that we do want to build this feature - right now we're working on improving user mining profitability which should make this less of an issue (but still something on our TODO list).

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Network fees have been around 1 Satoshi/byte for around 6 months. Make sure your wallet isn't overcharging on fees. Also - many wallets let you set the fee you include when sending. A typical transaction right now should cost under 400 Satoshis @ 1 Satoshi/byte.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We agree! Enabling users to set a higher minimum payout is a feature we want to do. Right now we're working on revamping all of the mining engines to improve user yields because if users earn more, then the minimum payout is less of an issue.

    The reason the pool automatically issues payouts instead of user requests is because the mining pool can issue multiple payouts in one large transaction (AKA batching in Bitcoin parlance), rather than lots of small ones. This reduces Bitcoin network load and keeps network fees lower for everyone.

  11. 3 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Blockchain.com doesn't charge to receive Bitcoin - however nearly all wallets charge to send bitcoin (the later is core to the Bitcoin protocol and not specific to any wallet).

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We're working on a feature to let users raise the minimum payout, but until this feature is ready, the best thing to do would be to use a wallet that doesn’t have such business practices.

    If your only option is to use a wallet that charges fees, we recommend using a wallet like Blockchain.info that doesn’t charge fees to accumulate payouts, then once you have enough, transfer to your main wallet to avoid fees.

  12. 18 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    All the comments here are valid - we have been reworking a lot of the internal scheduling code. Hopefully over the next couple months we'll be able to have better fine-tuning of controls so users can set what % of CPU is used for mining.

  13. 10 votes
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    4 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Also - to your comment on the Android app - our only release platform at the moment is the Windows Store but we are looking into Xbox and Android versions (after the user profitability work gets done). The Google Play and Apple stores do not allow on-device mobile mining so at best we'd have to offer an option via side-load.

    Apps that do not perform on-device mining generally require the users to interact with ads, since otherwise no real value is being created.

    We don't take any shortcuts - Bitcoin Miner is a real miner and AFAIK the only DirectX based miner out there (Microsoft only certifies DirectX for GPU operations on the Windows Store).

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Hi NS, first thanks for the thoughtful comment.

    The default pool in Bitcoin Miner is actually a multi-pool, where it has your miner mine whatever is most profitable for your PC/Phone, and then converts it over to Bitcoin.

    We are working on adding more mining engines as right now as we don't have CryptoNight or Ethash cores which negatively affect yields As-is, users keep everything they mine as our app development is ad-supported (this is so we only do well if users want to run the application). While we don't charge fees because of this, some users have asked for an option to remove ads so we're also looking into seeing if we can offer that in the future for a small % of what is mined. Our first priority is improving mining yields for users however.

    Our engineering team is fairly small - unfortunately that means that often we have to spend time on mining pool security and scalability work rather than the Bitcoin Miner app itself. This is something that isn't as visible as people only notice when something goes wrong.

    As to the company name - the original focus was on something else before we launched Bitcoin Miner back in 2013, and have never bothered to change it as we've been mostly focused on the engineering rather than marketing!

  14. 1 vote
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Thanks for the feedback! It's true we'd like to better organize this information. Generally we issue payouts between Friday and Monday as this is when network fees are congestion is low which lets us keep yields higher for users. It's also correct that we don't publish specific times as otherwise the payout transactions could be targeted by network spam attacks. Our systems do issue payouts every week to all accounts with balances of at least 5000 Satoshis, and if a user doesn't have 5000 Satoshis at the time of a payout the balance simply rolls forward (it is not lost).

  15. 3 votes
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    This is a feature we want to do, but for the moment if your only option is to use a wallet that charges fees, we recommend using a wallet like Blockchain.info that doesn’t charge fees to accumulate payouts, then once you have enough, transfer to your main wallet to avoid fees.

    Wallets like Xapo, Kraken, Luno, and Coins.ph charge large fees to receive bitcoin (often the entire amount of the transaction). You can change your wallet and payout address in Bitcoin Miner at any time and the server will use the updated payout address during its next payout cycle.

  16. 29 votes
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    13 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    As a reminder: please contact support@groupfabric.com or file a support ticket if you have questions on individual payouts.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Transactions can't be refused in Bitcoin as they are one way and permanent - your wallet is confiscating those Satoshis; we'd recommend immediately switching to another wallet that doesn't have those business practices. If you need the bitcoin transaction ids of a payout to follow up with your wallet's support department, contact support@groupfabric.com with the payout address used in Bitcoin Miner.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    A good time to issue transactions to minimize fees is over the weekend when network congestion is low; at the moment fees are under 5 Sat/byte. Tradeblock is a great resource for identifying when network fees will be low. Another thing is that many wallets are relatively poor at estimating fees, so its a good idea to "get a feel" for how high of a fee to attach to transactions. This is one reason we moved to a weekly payout schedule so we could minimize fees and speed up transactions (plus it lowers fees for users when they receive smaller but larger transactions).

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We'd like to add features like this, but until we can don't use wallets like Xapo or other ones that charge fees to receive Bitcoin. The Bitcoin protocol doesn't impose fees when receiving, it's purely the poor business practices of these wallets. Blockchain.info and Coinbase.com both do not charge fees to receive Bitcoin.

  17. 1 vote
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Internally the website uses UTC, which is then converted to your local time when shown - that said, the pool can issue payouts on 1-3 days before that date because it depends on the level of Bitcoin network congestion and network fee optimization.

  18. 20 votes
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    3 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Agree - we actually have a large work item for the site - right now the work looks roughly like this:

    1. Improve user yields (Monero, possibly Ethereum support)
    2. Get Xbox version working (improve yields for users)
    3. Add ability for users to set payout minimum (improve user yields)
    4. Bech32 address support (also improve user yeilds)
    5. Make improvements to site/add more precise miner controls/QoL improvements/try to improve background mining support

    Huge amounts of coding!

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Having more status updates is something we'd like to do, however at the moment all of our efforts are going into improving the product and we do not have a large team for things like site updates and such.

  19. 7 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    All good ideas!

  20. 103 votes
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    18 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Yes it is - however we're trying to get profitability improvements done first for users.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Gen. Linza - our highest priority is improving yields for users. Once we finish that work the next item is looking at platforms like Xbox and Android.

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Still working on it!

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Probably sometime in late October or early November - right now we're finishing up the Android version!

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    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We actually have this pretty much done - Microsoft just hasn't opened up the Xbox Store to app devs yet but it is coming soon!

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