15

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

The size of a pool, its total hashrate and the distribution of hashrate between bigger and smaller miners, have no effect on the rewards you, mining with a specific hashrate, will obtain on average. The total block rewards collected by the pool are proportional to the number of blocks it finds per time unit, which is proportional on average to its total ...


13

The way you describe it it's not possible. The pool sends you the template of the block that you ought to be working on. Should you really find a block it is bound to the block template you received from the pool, i.e., the nonce that satisfies the proof-of-work difficulty is only valid because it is valid in combination with the template. Since the block ...


12

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 ...


11

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

The answer is hidden in this forum post here. "You have the same problem that is common in P2Pool threads, your miner is (relatively) slow compared to the size of the pool, as such you are not solving the required 1 P2Pool share every 24 hours (not the work your miner is submitting). You will get paid when your miner solves a share with a difficulty ...


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

Sure, you can use your own blocks to send transactions instead of spreading them out on the peer-to-peer network and let anyone include them in their blocks (may require fees). The upside as you say is that you can save on fees. The downside is that it can sometimes be a long wait, even for a big pool. Still could be a good idea to offer these payouts for ...


5

You should count each share as valuable as the difficulty of the pre-determined target for that miner. If you count the actual value of the hash it found itself, either the math won't work, or you'll introduce massive variance instead of reducing it (which a pool is intended to do). When you choose a particular share difficulty D, you are restricting the ...


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

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/...


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 ...


2

The server will reject all shares that are below the difficulty it specified in your getwork request. Reasons for the server to lower the difficulty of accepted shares: Less variance for users Reasons for the server to raise the difficulty of accepted shares: Lowers bandwidth usage Something from 4 to 10000 is about right.


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

Mining, by construction, is a stochastic process. A Poisson Process to be precise. This means that even at a constant difficulty the time between a miner finding a block and the next is randomly distributed. As difficulty rose, this meant that you could go months without finding a block and then have a single afternoon where you found 2 in a row. This ...


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

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

The payout method in p2pool is based on PPLNS. In this method, every share is rewarded for each block found within the next N shares. Depending on the exact value of N and the luck in finding blocks by the pool, this can mean several blocks.


1

The p2pool payout method is based on PPLNS, so if your shares are not in the window of the blocks found, you will not get any payments. I do not know if there is any other problem that could prevent you from receiving payment. By the way, in centralized pools it is also true that you only get payment when a block is found, unless they are using PPS.


1

The Size of the pool does matter. It Has to be big enough to take blocks. So long that it can take blocks at a relative frequency, No pool is going to pay out shares of blocks that they take no stake in if they cannot get a block to begin with. That being said, the smaller of the largest is the best. A block is a block, it pays a set amount, getting that ...


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 ...


1

I don't believe it really matters whether you mine with a small pool or a big pool. In a small pool, you would receive bigger rewards per share, but would receive them less frequently. In a larger pool, you would receive smaller rewards more frequently. Both pools get the same reward for a block, it's just distributed differently, and the bigger pool ...


1

Changes in the difficulty are irrelevant to the choice between DGM and PPS. However, with DGM you'd want to mine in either a large pool or a combination of pools to minimize your variance.


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