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Switching to BTC Guild but keeping Eligius; and other news
Topic Started: Nov 5 2013, 09:02 PM (476 Views)
Corather
Administrator
BitMinter is a great pool but it's just too small now. You need at least 500 TH pool size now to compete with the big boys and Eligius is right up there (barely), but BitMinter is just too small. I am now mining on all 3 pools until the end of November and at that time I'll phase out BitMinter unless they get a huge influx before the end of the month. The reason I'm staying is for the off chance we may win a miner, so I'll stay in the game at least that long.

The miner is doing great under Firmware 0.98.1. The hash rate remains unchanged at 142 GH, and the hardware errors have gone down even further. They are now at around .05% which is definitely within the realm of reason. The miner now runs around 63c and below. It's a little toasty but it seems that those miners which suffer from the dreaded die 0 failure run better at temps around 60.0c. The beta firmware ran a little cooler but hardware errors were just a little higher at .1%.

Bitcoins price has been skyrocketing in the last few days. Up to $250.00 per coin from 200. That's a 20% rise within a week so expect a correction. I wouldn't buy BTC right now unless you're actually purchasing something with it like more cloud hashing. CEX-IO's per GH is "0.10875" right now which is not it's low and I expect it to fluctuate within the next week as the market stabilizes with the difficulty change.

Difficulty change! I'll distribute BTC today. Yay. :)

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Corather
Administrator
Wow, how many predictions can I make and be wrong about all of them. BTC managed to climb over 800 dollars a coin on average due to the congressional hearings on Bitcoin and the relatively positive outcome. I watched in awe as the price rose and rose and I knew it was heading for a major correction. Well that time has come, as of this writing it's down to 500 dollars a coin and crashing ever lower but I have confidence it'll even out in the midterm.

And what about BTC Guild? The numbers just don't add up, it appears no matter how much I think BitMinter is too small a pool to mine with, it surprises me every time there's a payout. It's consistently higher than even Eligius so how can I just drop them. BTC Guild on the other had has been a disappointment, it looks like it was averaging lower than either Eligius or BitMinter, and it would only payout to 2 decimals which was discouraging so I discontinued mining there.

The profitability sheet had a major malfunction. I fixed the percentages so they accurately reflect whats going on. I can't believe I made such a silly mathematical error. Also it seems the payouts are now beginning to match closer the expected average return which is good. It's a little on the low side but I don't expect it to be 100% in compliance with the estimate. It is nice to have a guild line however and I'm glad I put the sheet together. The data from it has been invaluable even this early in the game.
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