AdminAlex (CEO / Founder, GroupFabric)

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  1. 6 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Current Bitcoin network difficulty is in terms of exa-hashes per second; make sure your expectations are realistic relative to the capabilities of your hardware as many firms invest hundreds of millions of dollars into data-centers and custom power plants.

  2. 54 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We're still working on the user profitability improvements. Once we get the user profitability improvements online then we will be working on quality improvements like this. We do want to get this done too as it is a huge quality of life improvement.

  3. 46 votes
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    15 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    The NVidia 8800GTX, GTS-240 and Intel G41 are DirectX 10 cards or lower; unfortunately native DirectX 11 cards are needed as before DirectX 11, the physical hardware doesn't support compute shaders large enough for mining.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    All Radeons that support DirectX 11 or later should work - one thing to make sure of is that Crossfire is disabled and that you are running the latest drivers.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Right now all of these cards should be supported!

    Here is some more information for the curious if you see different hash rates:

    Bitcoin Miner often mines alternate currencies which are more profitable on PCs and phones, which is exchanged over to Bitcoin by the server to improve yields for users. Typically these alternate currencies have harder hash functions which have lower hash rates, but end up having a higher yields.

    While Bitcoin Miner can mine SHA-256d directly, you would be competing with huge datacenters in China filled with custom ASIC hardware coupled to dedicated power plants.

    If you want to mine Bitcoin directly, Bitcoin Miner supports a custom mining pool option – if you directly connect to another Bitcoin mining pool that uses SHA-256d, you will see higher hash rates but the yield will likely be much lower.

    You can see the hash function being mined on the main screen (SHA-256d, Scrypt, or X11) – depending on which is being mined the rates will be different, but the work being done is the same.

    Also Bitcoin Miner has Performance and Power Saving modes, by default Power Saving is selected but you can use Performance mode to maximize hash rate.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Working on it! What graphics card are you using?

  4. 2 votes
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Mining performance is determined by how much work your computer can get done. That said we are working on adding newer and more profitable algorithms soon.

  5. 123 votes
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    23 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    5000 Satoshis – it is set to this with very good reason:

    1. Bitcoin protocol’s hard minimum transaction size is 546 Satoshis; amounts smaller than this do not get validated
    2. Bitcoin Core’s minimum transaction relay size is 2730 Satoshis; amounts smaller than this do not get transmitted
    3. Most wallets charge fees on amounts smaller than 5000 Satoshis, and some on amounts smaller than 10000

    Effectively 5000 Satoshis is the smallest payout we can reliably issue to users as this is determined by the Bitcoin network itself.

    TBH - the Bitcoin network is heavily overloaded at the moment and we should probably raise the limit to 10000 Satoshis. Likely we will do this once our profitability improvements come online.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Payouts usually happen between Friday and Monday, and are executed when Bitcoin network congestion is low to minimize fees and speed up transaction time. We post approximate date ranges to prevent attackers from targeting our systems when payouts are ongoing. Additionally this this is a price/time optimization problem; if a user receives 7 daily payouts of 1000 Satoshis or 1 weekly payout of 7000 Satoshis, it will cost the user 7x as much in network fees to use the 7x1000 Satoshis when they go to spend it.

    However, please file a support ticket in the future if you have questions. The feature request forums are not the place for these types of support questions.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Ernesto - please use support@groupfabric.com or the ticketing system for account questions. Your specific question is answered on the mining pool page.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Payouts are currently weekly for accounts with balances of at least 5000 Satoshis.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    This is tricky because we don't like to hold payout balances - there is no banking interest and all it does is create risk (hackers, etc.) until a payout is issued. Many users also want to get paid as-soon-as-possible, so this is a good idea, but there are several other cases we need to work through first.

  6. 54 votes
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    6 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    When using a Custom Pool, you have to set your payout address on the custom pool's website. The Payout Address screen in Bitcoin Miner is only for the default Bitcoin Miner Pool.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    It's something we'd like to do, but would require a whole mining pool deployment as our apps have a default pool option for users who don't want to deal with mining pool setup.

    That said, our Bitcoin Miner app can also mine Litecoin if you use the custom pool option.

  7. 106 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We are working on this - one challenge with Windows Store apps is they can only use DirectX, which means we have to do custom implementations for each. Also Cryptonight uses a different block format than Ethereum, which is different from X11. All of this requires custom code. Organizations like NiceHash typically take existing Open Source implementations and rebrand them as their own, but this is something we cannot do as such code would be incompatible with ours.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Working on it!

  8. 5 votes
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    3 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Not that we're not motivated - just that all our staff is engineering focused due to the rush of new users, and that we're spending all our time focusing on improving user profitability.

  9. 67 votes
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    5 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    You don't lose shares - the amount shown when mining is for the session, but the pool tracks your accumulated balance. You can view your accumulated balance at http://www.groupfabric.com/pool.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Appreciate the feedback Levi! All these features are great.

    Quick note - Microsoft adds release hurdles on a per-country-basis once money is charged. The reason Bitcoin Miner is free with ads is to make it as accessible to as possible to people. Also ads fund ongoing development. Assuming continued features and improvements, would you be willing to pay for something that removed ads for a year? If not, what other things would be needed to make it worthwhile (mining reports, profitability analysis of different pools, etc.?)

  10. 59 votes
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    12 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We haven't forgotten about this - we've been trying to get more profitable algorithms in the app at the moment so users earn at a fast rate to make this less of an issue.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    We highly recommend switching to a wallet that does not charge fees when receiving Bitcoin. Blockchain.info and Coinbase.com are good options that do not charge fees. Xapo is one of the worst as they often charge fees equal to the entire amount of the transaction.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    It's something we have on our list of items to have as an option, however most users want to be paid as soon as possible which is why we have auto pay right now,

  11. 38 votes
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    12 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Also, we are working on several projects to boost mining performance, but this R&D intensive and something that takes time.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Please see the 9 month global difficulty growth:

    https://bitcoinwisdom.com/bitcoin/difficulty

    https://bitcoinwisdom.com/litecoin/difficulty

    (Litecoin is also one of the alternate currencies the default pool in Bitcoin Miner can mine and exchange to Bitcoin).

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    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.

  12. 1,055 votes
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    90 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Do not send money to scammers posting about Windows 7 launchers. Bitcoin Miner will not run on Windows 7 at the moment.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Anonymous - payouts are automatic every 48 hours - however please file a support ticket as these forums are for feature request discussion.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    michsan - please file a support ticket; these forums are for feature discussion requests.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Hi Robert - it all depends on your PC/Phone hardware - faster CPUs and GPUs will mine more bitcoin. That said, we are working on adding support for more currencies on the back-end so we can further boost profitability.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Windows 10 is supported and available though the Microsoft Store!

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    As a mid-term fix - Microsoft has announced Windows 10 which will be a free upgrade for Windows 7 users and will be out shortly.

    I know this doesn't help Windows 7 users in the short-term - we've had a long list of work items around boosting user profitability (otherwise mining doesn't make sense!). While this doesn't address Windows 7, it means Bitcoin/Litecoin/Dogecoin will stay excellent for a long time to come.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Still working on items people have requested - currently working on getting Litecoin support out soon...

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    FYI we haven't forgotten about this - we're working on several updates to the current version since they will also end up in the Win 7 version.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Great idea, we're working really hard on expanding the number of platforms we support and will add this to the TODO list.

  13. 204 votes
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    6 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    It's still under development, we've been focused on improving profitability for users right now as well as upgrading the capabilities of the mining pool.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Working on it!

  14. 7 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    The default pool in Bitcoin Miner is a multi-pool, where it tries to have your machine mine what will be most profitable, and the pool then converts the proceeds to Bitcoin. Supporting more payout currencies is something we may eventually do, but internally the mechanism would be the same.

  15. 5 votes
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    1 comment  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Whenever your miner solves a share at a difficulty it shows up on the mining pool site (also the Accepted count in your miner goes up).

    The pool tries to adjust your difficulty so you find a share approximately every 20 seconds. When your miner is finding them faster the difficulty is increased, and when it is finding shares slower the difficulty is lowered.

    This has the effect of minimizing the bandwidth and network load needed for mining. Higher difficulty values are credited with higher Satoshi amounts, but if your miner is not finding shares then the difficulty is lowered.

    A share has to be completed / accepted before it can be credited, otherwise the miner hasn't completely solved the work.

    Also, agree the display could be better, it's a by-product of the stats that are traditionally shown in miners but not-necessarily friendly to new users.

  16. 24 votes
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    3 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    It's reasonable feedback to add more tutorials - however Bitcoin literally is money. Right now we're focused more on engineering items around boosting profitability and adding support for more devices, so we may not be able to get to this in the near-term.

  17. 27 votes
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    4 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Hi Minefox - what GPU are you using? If Bitcoin Miner is using your CPU it might be that it is having a hard time using your GPU.

    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    This is a fair request - however Bitcoin Miner will already use less of the CPU if it sees a GPU - Bitcoin Miner in Power Saving mode will always allocate work to the most efficient device.

  18. 237 votes
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    11 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Working on it!

  19. 23 votes
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    2 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    Interesting idea, thanks for the suggestion!

  20. 47 votes
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    6 comments  ·  General  ·  Flag idea as inappropriate…  ·  Admin →
    AdminAlex (CEO / Founder, GroupFabric) commented  · 

    As long as your account is over the minimum, the entire balance should be paid at the time of payout.

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