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Most efficient mining profits
Hello, I'm new to mining. I understand this is a smaller pool and that we get payed when a block is found. Those with experience in mining using L3+ could you let me know the benefits of mining in a small pool? I was looking at the blocks section and it looks like the last one was found 6 days ago and the once before that 2 months ago? Will the difference in price at payout be similar if I would have mined in a larger pool with faster blocks? It seems people that hop on when a block is about to be found would make the most profit. Will we be payed for the amounts of shares found? How is it split?
Customer support service by UserEcho
In theory, the rewards for a large pool and for a small pool should equal each other out over a long period of time (not days, not weeks, but most likely months). If you take any random period of time, it's just as likely that the reward of a small pool will be higher than that of a large pool, than it is likely that the reward will be smaller than that of a large pool. It's all about statistics, particularly variance and probabilities.
The payout is explained in the FAQ, how many of your shares get payed out for a specific block depends on the blocks effort. I'm further copying what I posted on another thread:
100% effort is the expected time it takes to find a block given the pool's hashrate and the network's difficulty.
If it is <100%, this means the pool found the block faster, using less effort than expected. Shares are the unit of effort. If the effort is <100%, some shares from previous block(s) are also included in the reward calculation given this is a PPLNS pool. See round 2 on the graphic in the FAQ.
If it is >100%, this means the pool found the block later, using
more effort than expected. If the effort is >100%, more shares were
generated than are used for reward calculation, and as a result of
PPLNS, the shares early in the stack are silently dropped and not
considered in the reward calculation. See the 5th round on the graphic
in the FAQ.