17

TL;DR: Just read the second paragraph of "Concrete Numbers". Wallet Recommendation: Electrum Doing this in Electrum is very simple. Just switch to the Send tab and then (in the menu) choose Tools → Pay to many. The "Pay to" field will become a text area and a popup will open, telling you how to send money to many addresses. Note that the unit of the ...


13

With the Bitcoin Core client, you can create a transaction sending coins to several addresses. On the "Send" tab, there is an "Add Recipient" button at the bottom of the screen; click it as many times as needed to add a form for each recipient. Enter all the addresses and the corresponding amounts to be sent, and you will get a single transaction sending ...


12

What do the mining workers do differently then if they would be mining solo? A miner that is mining within a third-party pool doesn't need the entire block chain. In fact it doesn't need to be connected to any peers of the Bitcoin network. These miners work entirely outside of the network and could technically just need to communicate to the administrator ...


7

Transactions have a list of inputs and a list of outputs. Many transactions just have two outputs, one that pays to the receiver of the funds, and one that sends the leftovers ("change") back to the sender of the funds. Since this is the most common transaction type, this is what most bitcoin interfaces are designed for. With that said, there are a few ...


6

I was confused by this as well, but I figured it out through trial and error. AM means arbitrary message (they should have explained this), which is a regular message you send to the forging pool through your wallet. First you must join the forging pool (Account Balance -> More Info -> Account Leasing). No additional message is necessary at this point. ...


5

How does Eligius pay miners directly from the newly generated coins? It simply generates the coinbase transaction to include payments directly to its miners, instead of only a transaction to itself. What are the pros and cons of this compared to how Slush does it? Here are some I can think of: Pros: No transaction fees necessary for these payouts (...


5

Broadly speaking, there are two ways of paying pool miners. The first way is to have a wallet and send payments to miners through that when they ask for them. The second way, which both eligius.st and p2pool use, is to keep track of how many shares people get, and set the coinbase transaction to pay the block reward directly to them once a block is found. ...


4

The mining pool coordinates the workers. Think of it like a lottery. If you and your friends all buy tickets in the lottery the group has a better chance of winning. To be fair in the lottery example everyone should be rewarded proportional to the amount of money spent on tickets. So if there are 20 tickets for the pool one person purchased 10 and two people ...


4

Well, that post is quite old. Variable-difficulty shares weren't a thing then. That said, I'm pretty sure the fix is as follows: When a share is submitted, the post says you should assign to it a score of 1/D. Instead, assign to it a score of d/D, where d is the share's difficulty. That's it. Also, you should have a look at https://bitcoil.co.il/...


2

To go from GH/sec to BTC/day, use this: BTC/day = GH/sec * 1,000 * 25 * 24 * 3,600 / 2^32 / difficulty(in millions) Because: the block reward is currently 25, there are 24 hours in a day, 3600 seconds in an hour, and the base share difficulty is 2^32. So 100GH/s, at the current difficulty of 707 million will yield: 100 * 1,000 * 25 * 24 * 3600 / 2^32 / 707....


2

If I understand multi-PPS correctly, it's really simple. How does multi-PPS work: Miner Alice registers with Bob's pool: she gives Bob one of her addresses (to use for payouts) and Bob gives her one of his addresses (to use in coinbase transactions). Bob will give Alice credit for mining shares which pay that coinbase address, and at defined intervals or ...


1

They do so just like anyone else sending Bitcoin to someone; they create a Bitcoin transaction and broadcasts it to the network. It works in exactly the same way as you sending Bitcoin to someone else. The mining pool operator goes into the pool's wallet, chooses the "send" option in that wallet, and enters the addresses and amounts to be paid for each miner....


1

When a share of difficulty d > 1 is submitted, treat it as though d shares, each of difficulty 1, were submitted simultaneously.


1

This is an interesting question, but also a very difficult one to answer. No, all pools don't pay exactly the same. But looking at how much a pool paid out over a few days is pointless due to variance. Another mistake common with beginners is to try to find some magic ratio between your hashrate and the pool's hashrate that will let you earn more. In ...


1

Armory can do this in a couple of clicks as far as I remember, you'll be able to do it with one fee if I'm not mistaken but you are going to need to download the whole blockchain.


1

First it should be understood that Multi-PPS aspires to solve only one aspect of mining centralization - the centralization of many small miners in a few large pools. It doesn't solve the problem of huge mining entities that enjoy economies of scale - though, I don't think that problem is too great to begin with, as I claimed in here. Under the assumption ...


1

Deepbit allows PPS (pay per share) or Prop (proportional) mining. Under PPS, you get credited for each share you mine. Under Prop, you get credited after the pool finds a block, with the 25 BTC split proportionally among the miners based on how many shares they have. Since Deepbit has 1% of the total hashrate (according to Blockchain.info), on average it ...


1

At Bitminter the work in the last 10 finished shifts get paid when a block is found. If you only have work in the current unfinished shift at the time when the block is found, there is no payment. If you only have work in old shifts (not the 10 latest ones) at the time when the block is found, there is no payment. After you have done some work and the ...


1

From what I know of it and the research I've done personally, bigger pools mean smaller payouts more often, while smaller pools mean bigger payouts less often. Overall you make the same amount over the same amount of time, based on your own mining equipment's productivity. What it comes down to is how often you want to be paid - big lump sum once in a blue ...


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