AdminAlex
(CEO / Founder, GroupFabric)
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85 results found
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1 vote
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20 votes
An error occurred while saving the comment 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 supportHuge amounts of coding!
An error occurred while saving the comment 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.
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Well after running through a bunch of other programs and apps I have a few ideas that will help out.
7 votesAn error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
All good ideas!
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103 votes
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Yes it is - however we're trying to get profitability improvements done first for users.
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Still working on it!
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Probably sometime in late October or early November - right now we're finishing up the Android version!
An error occurred while saving the comment 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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8 votes
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Paul - please contact support@groupfabric.com for payout questions.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
We've never had users concerned about receiving funds earlier than quoted - could you please help us understand more in depth here? The mining pool specifies the payout date to set expectations, however payouts can be issued at any time before that date if the Bitcoin network conditions permit (low congestion).
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59 votes
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Hi Julio - please contact support@groupfabric.com with the payout address you have set in Bitcoin Miner for payout questions.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Lisa - this is for feature requests, please use the Contact Support function if you need help.
That said, Bitcoin Miner lets you set any Bitcoin receive address generated from a wallet as the payout address so Xapo should work just fine.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Xbox 360 doesn't have the platform-level code to enable Windows apps to run on it - other challenges with X360 are that it uses a different CPU instruction set (PowerPC), so any mining cores would have to be completely re-written (all of our CPU mining cores are at this point in hand-tuned X86/X64/ARM assembly).
Unfortunately it's a completely different process to ship an X360 app than it is a Win10/Xbox One app, so it's unlikely we'll ever see publicly available miner for a stock X360. It would be a massive undertaking for a developer and for Microsoft to back-port a lot of their infrastructure.
Finally, the X360 GPU doesn't support DirectX 10 Shader Model 4, which is the first version of Direct X that supports compute shaders and has the minimum capabilities needed for mining (more than 32 temp registers for example). Without SM4 compute shaders, the only thing you can use is the CPU, which you wouldn't want to as the X360 CPU is very old.
Separately, Xbox One does have DX12/AMD Mantle which I'm pretty exited to be working on right now!
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Right now we don't take out fees from mining proceeds - we've found most users prefer ads or an ability to pay to disable ads over mining fees. The nice thing is users get to keep everything they mine!
Development has been ongoing and we have been working closely with Microsoft, but don't have anything to announce with regard to Xbox One yet. Our highest priority is boosting yields, getting Android support online, and better Windows 10 support (which carries over to Xbox).
It's a lot of coding and integration work - right now there are several outstanding bugs on each of the platforms that are blocking release and we're working with MSFT and GOOG respectively on them.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Yes. :) These are all really good points (we do want to do all of them). Wallets are tricky because they have much higher engineering requirements due to security and network requirements. Ads are tricky because they provide recurring revenue which supports development and lets the app be free. Without ads there would have to be some sort of recurring fee or per-transaction model to support development (open to ideas here).
Mainly it comes down to engineering resources and scheduling though. However we are looking at all of these!
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6 votes
An error occurred while saving the comment 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.
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58 votes
An error occurred while saving the comment 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.
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51 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Working on it! What graphics card are you using?
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3 votes
An error occurred while saving the comment 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.
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130 votes
An error occurred while saving the comment 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 10000Effectively 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Payouts are currently weekly for accounts with balances of at least 5000 Satoshis.
An error occurred while saving the comment 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.
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59 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
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110 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Working on it!
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5 votes
An error occurred while saving the comment 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.
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67 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.?)
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62 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment 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,
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38 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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).
An error occurred while saving the comment 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.
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1,151 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
michsan - please file a support ticket; these forums are for feature discussion requests.
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Windows 10 is supported and available though the Microsoft Store!
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Still working on items people have requested - currently working on getting Litecoin support out soon...
An error occurred while saving the comment 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.
An error occurred while saving the comment 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.
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353 votes
An error occurred while saving the comment 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.
An error occurred while saving the comment AdminAlex
(CEO / Founder, GroupFabric)
commented
Working on it!
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7 votes
An error occurred while saving the comment 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.
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.