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Etherium mining -

mminer 6 years ago updated 6 years ago 7

Dear Coinfoundry-team,


I am quite new to mining, so please be patient with my question here. It's about my profitability. I picked this place here because people seem to be helpful.


Well, I mined Etherium at about 190 MH/s. According to https://etherscan.io/ether-mining-calculator I should be able to make around ETH 0.00057172 ($0.48) per hour, just talking about revenues. So considering I have been mining for around 107 hours, and the last payment was made six hours ago, we are looking at around 100 hours of mining. So I should receive about ETH 0,05717196 ($48,06), right? If I deduct the pool fee, it should be still 0,055456798 ($46,62), right?


However, what I got transferred was ETH 0.0396 ($33.24). Not sure if that's connected but I have read the FAQ saying this being a small pool. I think I would require a bit more explanation to understand why my payout is less than I expected it to be. I appreciate your explanation.


Thanks in advance!



Best regards


Markus

+1

You should read up on how pools work.  Pools only pay out when a block is found.  There are not many people in the pool, so the finding of blocks is very inconsistent.   


Check the pool for how many blocks it found and when.

https://coinfoundry.org/pool/eth

There is a blocks tab right under the graph.   

1 block has been found 10 hours ago, the one before that 6 days ago.    Any pool that pays out once every few days isn't going to have consistent income over 107 hours.  You'd have to mine way longer to see the correct average income.

Dear Inkie,


Thank you very much for your explanation and the hint with the blocks. That gave me some good insight. So that's what you mean by large intervals. Ok, now I got it, I think. I have to look at it for longer terms. My 107 hour testing was not representative then, I assume.


I was just doing my maths and wondering if mining is profitable at all. But with your explanation I will see it when the next blocks are found.



Best regards


Markus

Ah, and could someone please correct the typo in the subject, please?

+1

Like Inkie said, with the long block time windows and relevant inconsistencies, looking at profitability over a period of X hours is highly inaccurate. A more representative sample would be weeks, event 10 weeks at least.


If you are worried about profitability, don't be, it's still very profitable pretty much everywhere in the world (energy prices) and at every pool out there. On average it evens out to about same profit-abilities everywhere, assuming you are not getting stale shares, which small miners get at the big pools with no variable difficulty adjustments. You're safe here.

I'm new to this pool, if been mining for over 24hr at over 130Mh/s should I see any change in my balances by now?

@Matthew , you only see a balance change when the pool finds blocks. See Inkies first response down here.

Dear all,


That sounds good. Thanks for all your kind replies. Let's see how it goes!



Best regards


Markus