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Release time:2019-01-20
Bitcoin Mining

Bitcoin Mining

Bitcoin, the first cryptocurrency ever created has indeed become the most widely used digital currency on earth. Ever since the existence of Bitcoin in 2009, it has witnessed unprecedented growth across the world. The reason for its worldwide acceptance is no other than its ability to changed the way transactions are conducted in many electronic platforms. Conventionally, electronic card transactions take approximately three business days to get confirmation. On the other hand, Bitcoin transactionstake few minutes to be confirmed on the blockchain. Unlike ever before, the world is now able to transfer and receive funds locally and internationally at low costs, and the potential is increased given that a significant number of people in developing countries do not have access to the formal financial system, and compared to the developed countries where the competition is fierce in the financial institutions, little number of banks available in the under-developed countries imposed very high fees during international transactions. Being universal and decentralized with low remittance, it’s gradually drawing in more users in such countries. Unlike the centralized fiat payment systems, Bitcoin is fully open-source and decentralized. Transactions can be verified independently at any time, and payments can be made instantly and directly without an intermediary. Due to the widespread proliferation of the internet and mobile devices, more people in the developing world now have access to web services. It therefore follows that the number of Bitcoin users should increase as a result. Citizens who find it inconvenient to access traditional banking services will seek out virtual systems such as Bitcoin, and as internet usage increases within the developing world, one can only predict that the adoption of Bitcoin (and cryptocurrencies generally) will go viral. Bitcoin’s distributed confirmation model gets around the expensive and time-consuming system by using peer-to-peer technology to operate without a central authority or banking institution. Contents 0.1 How The Bitcoin Is Created?1 What is Bitcoin Mining?1.1 Who Are Miners?1.2 Rewards For Mining2 What’s the Point of Bitcoin Mining?3 Bitcoin Mining Requirements3.1 Hardware3.1.1 The CPU3.1.2 The GPU3.1.3 The FPGA3.1.4 The ASICS3.2 Software4 Cloud Mining5 What Are Bitcoin Mining Pools?5.1 Commonly Used Pool Payment Methods5.1.1 Pay-per-Share (PPS):5.1.2 Double Geometric Method (DGM):5.1.3 Bitcoin Pooled Mining (BPM):6 How to Start Bitcoin Mining7 Conclusion: Should You Start Bitcoin Mining?How The Bitcoin Is Created?Being a distributed system with no central point of failure, have you've ever wondered where Bitcoin comes from? and how it goes into circulation? The answer is that it gets “mined” into existence. What is Bitcoin Mining? Bitcoin operates as a peer-to-peer platform. This peer-to-peer platform generates Bitcoins through Bitcoin mining. Why do we need Bitcoin mining? We need it because there’s no central government managing Bitcoin. Typically, a central government issues new coins for a currency. The U.S. Mint issues U.S. dollars, for example. With Bitcoin, there’s no Bitcoin mint. There’s just Bitcoin users. That’s what makes it a peer-to-peer currency. Bitcoin users generate new Bitcoins by running specialized software on their computers. This software solves math problems (Bitcoin algorithms). The more math problems that computer can solve, the more Bitcoins that user will generate. Computers solve these problems using their processing power: the more processing power you have (like in your GPU and CPU), the more Bitcoins you’ll be able to mine. As more and more Bitcoin users run their mining software, the math problems become harder and harder to solve. This keeps the growth of Bitcoins at a steady pace – which means the currency won’t suddenly collapse if a million people downloaded and install Bitcoin mining software. The difficulty of Bitcoin mining doesn’t change on-the-fly. Instead, it changes about every 2 weeks based on the changing computational power of the Bitcoin network. Now that you got a brief overview of what it is. Lets jump in-depth and see how it works. Bitcoin mining is the process by which the transaction information distributed within the Bitcoin network is validated and stored on the blockchain. Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The concept of Bitcoin mining is simply the process of generating additional Bitcoins until the supply cap of 21 million coins has been reached.  What makes the validation process for Bitcoin different from traditional electronic payment networks is the absence of middle man in the architecture. The process of validating transactions and committing them to the blockchain involves solving a series of specialized math puzzles. In the process of adding transactions to the network and securing them into the blockchain, each set of transactions that are processed is called block, and multiple chains of blocks is referred to as the blockchain. Technically, during mining, the Bitcoin mining software runs two rounds of SHA256 cryptographic hashing functionon the block header. The mining software uses different numbers called the nonceas the random element of the block header for each new hash that is tried. Depending on the nonce and what else is in the block the hashing function will yield a hash of a 64-bit hexadecimal number.  To create a valid block, the mining software has to find a hash that is below the difficulty target. The difficulty is a number that regulates how long it takes for miners to add new blocks of transactions to the blockchain. Because the target is such an unwieldy number with tons of digits, people generally use a simpler number to express the current target. This number is called the mining difficulty.  This difficulty value updates every 2 weeks to ensure that it takes 10 minutes (on average) to add a new block to the blockchain. The difficulty is so important because, it ensures that blocks of transactions are added to the blockchain at regular intervals, even as more miners join the network. If the difficulty remained the same, it would take less time between adding new blocks to the blockchain as new miners join the network. The difficulty adjusts every 2016 blocks. At this interval, each node takes the expected time for these 2016 blocks to be mined (2016 x 10 minutes), and divides it by the actual time it took. It can be calculated as follows: Expected / Actual 20160 / Actual If miners were able to solve each block more quickly than expected; say 9 minutes per block for example, you’d get a number like this: 20160 / 18144 = 1.11 Each node then uses this number (1.11) to adjust the difficulty for the next 2016 blocks: difficulty x 1.11 = new difficulty If the number is greater than 1 (i.e. blocks were mined quicker than expected), the difficulty increases. If the number is less than 1 (i.e. blocks were mined slower than expected) the difficulty decreases. Every miner on the Bitcoin network now works with this new difficulty for the next 2016 blocks. At most, the difficulty will only adjust by a factor of 4, to prevent abrupt changes from one difficulty to the next. The mining difficulty expresses how much harder the current block is to generate compared to the first block. So, a difficulty of 20160 means to generate the current block you have to do 20160 times more work than the work done in generating the first block. Who Are Miners?The blocks chain is secured by the miners. Miners secure the block by creating a hash that is created from the transactions in the block. This cryptographic hash is then added to the block. The next block of transactions will look to the previous block’s hash to verify it is legitimate. Then the miner will attempt to create a new block that contains current transactions and new hash before any other miner does. In the process of mining, each Bitcoin miner is competing with all the other miners on the network to be the first one to correctly assemble the outstanding transactions into a block by solving those specialized math puzzles. In exchange for validating the transactions and solving these problems. Miners also hold the strength and security of the Bitcoin network. This is very important for security because in order to attack the network, an attacker would need to have over half of the total computational power of the network. This attack is referred to as the 51% attack. The more decentralized the miners mining Bitcoin, the more difficult and expensive it becomes to perform this attack. Rewards For MiningAs specified by the Bitcoin protocol, each miner is rewarded by each block mined.  Currently, that reward is 12.5 new Bitcoins for each block mined. The Bitcoin block mining reward halves every 210,000 blocks, when the coin reward will decrease from 12.5 to 6.25 coins.  Currently, the total number of Bitcoins left to be mined amounts to 4,293,388. This means that 16,706,613 Bitcoins are in circulation, and that the total number of blocks available until mining reward is halved is 133,471 blocks till 11:58:04 12th Jun, 2020 When the mining reward will be halved. I addition to the block reward, Bitcoin miners are rewarded for all of the transactions they process. They receive fees attached to all of the transactions that they successfully validate and include in a block. Because the reward for mining blocks is so high (currently at 12.5 BTC), the competition to win that reward is also fierce among miners. At any moment, hundreds of thousands of supercomputers all around the world are competing to mine the next block and win that reward. In fact, according to, ” the total power of all the computers mining Bitcoin is over 1000 times more powerful than the world’s top 500 supercomputers combined”. What’s the Point of Bitcoin Mining? Bitcoin mining is an essential part of the world’s largest cryptocurrency. Bitcoin help keep the Bitcoin network safe, stable, and secure. How does Bitcoin mining keep the network safe, stable, and secure? Mining Bitcoins does two things. First, it adds transactions to the block chain. Second, it releases new Bitcoins. When you mine Bitcoins, you’re compiling all recent Bitcoin transactions into blocks and trying to solve a difficult puzzle (the Bitcoin algorithm). Whichever miner solves the puzzle first gets to place the next block on the block chain and claim their rewards. Those rewards include the newly released Bitcoin as well as transaction fees from the Bitcoin transaction that just got added to the block chain. Not all Bitcoin transactions have transaction fees. The reward for mining Bitcoins has diminished over time. This is done on purpose to slow the release of Bitcoins over time. There will only be 21 million Bitcoins released over the entire course of the project. The reward for mining is cut in half every 210,000 blocks, or about every 4 years. In 2009, the block reward was 50 Bitcoins. In 2014, it was reduced to 25 Bitcoin. Bitcoin Mining Requirements Anyone who can run the mining program on the specially designed hardware can participate in mining. Over the years, many computer hardware manufacturers have designed specialized Bitcoin mining hardware that can process transactions and build blocks much more quickly and efficiently than regular computers, since the faster the hardware can guess at random, the higher its chances of solving the puzzle, therefore mining a block. Hardcore Bitcoin miners invest tens of thousands of dollars into their computers (or multiple computers). Early in the days of Bitcoin, miners realized that graphics cards were much better suited to solving Bitcoin algorithms than traditional CPUs. As a result, Bitcoin mining computers often have two or three GPUs. There are also specialized Bitcoin mining computers anyone can buy. These computers are specially built for just one task. They mine Bitcoins using Application-Specific Integrated Circuit (ASIC) chips. We’ll discuss the two basic mining requirements below: Hardware Over the years, due to the advancement in technology and need for more efficient hardware, there have been four major types of hardware used by miners. The CPUIn order to have an edge in the mining competition, the hardware used for Bitcoin mining has undergone various developments, starting with the use the CPU. The CPU can perform many different types of calculations including Bitcoin mining. In the beginning, mining with a CPU was the only way to mine Bitcoins and was done using the original Satoshi client. Unfortunately, with the nature of most CPU in terms of multi-tasking, and its optimization for task switching, miners innovated on many fronts and for years now, CPU mining has been relatively futile. The GPUAfter some months later, after the network started, it was discovered that high end graphics cards were much more efficient at Bitcoin mining. The Graphical Processing Unit (GPU) handles complex 3D imaging algorithms, therefore, CPU Bitcoin mining gave way to the GPU. The massively parallel nature of some GPUs allowed for a 50x to 100x increase in Bitcoin mining power while using far less power per unit of work. But this still wasn’t the most power-efficient option, as both CPUs and GPUs were very efficient at completing many tasks simultaneously, and consumed significant power to do so, whereas Bitcoin in essence just needed a processor that performed its cryptographic hash function ultra-efficiently. The FPGAA few years ago, CPU and GPU mining became completely obsolete when FPGAs came around. An FPGA is a Field Programmable Gate Array, which can produce computational power similar to most GPUs, while being far more energy‐efficient than graphics cards. Due to its mining efficiency, and ability to consume relatively lesser energy, many miners shifted to the use of FPGAs. Field Programmable Gate Array (FPGA) was capable of doing just that with vastly less demand for power. Its real virtue was the fact that the reduced power consumption meant many more of the chips, once turned into mining devices, could be used alongside each other on a standard household power circuit. The ASICSAn ASIC (application-specific integrated circuit) is a microchip designed for a special application, such as a particular kind of transmission protocol or a hand-held computer.  An ASIC is a chip designed specifically to do only one task. Unlike FPGAs, an ASIC cannot be repurposed to perform other tasks. An ASIC designed to mine Bitcoins can only mine Bitcoins and will only ever mine Bitcoins. The inflexibility of an ASIC is offset by the fact that it offers a 100x increase in hashing power compared to the CPU and GPUs, while reducing power consumption compared to all the previous technologies. As Bitcoin’s adoption and value grew, the justification to produce more powerful, power-efficient and economical devices warranted the significant engineering investments in order to develop the final and current iteration of Bitcoin mining semiconductors. ASICs are super-efficient chips whose hashing power is multiple orders of magnitude greater than the GPUs and FPGAs that came before them. Succinctly, it’s a custom Bitcoin engine capable of securing the network far more effectively than before. It is conceivable that an ASIC device purchased today would still be mining in two years if the device is power efficient enough and the cost of electricity does not exceed its output. Mining profitability is also dictated by the exchange rate, but under all circumstances the more power efficient the mining device, the more profitable it is. Unfortunately, as good as the ASICS there are some downsides associated with Bitcoin ASIC mining. Although the energy consumption is far lower than graphics cards, the noise production goes up exponentially, as these machines are far from quiet. Additionally, ASIC Bitcoin miners produce a ton of heat and are all air‐cooled, with temperatures exceeding 150 degrees F. Also, Bitcoin ASICs can only produce so much computational power until they hit an invisible wall. Most devices are not capable of producing more than 1.5 TH/s (terrahash) of computational power, forcing customers to buy these machines in bulk if they want to start a somewhat serious Bitcoin mining business. SoftwareWhile the actual process of Bitcoin mining is handled by the mining hardware itself, special Bitcoin mining software is needed to connect the Bitcoin miners to the blockchain. The software delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain. The best Bitcoin mining software can run on almost any desktop operating systems, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on the platform. Not only does the Bitcoin mining software relay the input and output of the Bitcoin miners (hardware) to the blockchain, but it also monitors them and displays general physical statistics such as the temperature, hash rate, fan speed, and average speed of the mining hardware. Cloud Mining Managing mining hardware at home can be hectic, considering electricity costs, hardware maintenance, and the noise/heat generated by dedicated hardware that has to be run in data centers. Because of the high energy costs for running a powerful Bitcoin miner, many operators have chosen to build data centers known as mining farms in locations with cheap electricity. To ease the stress of mining, these operators dedicated to renting out their mining hardware for a service called Bitcoin cloud mining. As innovative as the idea may sound, it is essential to know that there are both advantages and disadvantages to Bitcoin cloud mining. Some of the advantages include: It removes cloud factors such as investing in Bitcoin mining hardware, having it shipped to your door for a fee, and running the risk of paying VAT on top of all that.There are no settings to worry about, as nearly every Bitcoin cloud mining provider will automatically point your rented hardware to a Bitcoin mining pool.No shipping costs and VAT risk to take into account, Bitcoin cloud mining seems to be a safe bet when it comes to entering the mining scene.Also, some disadvantages of cloud mining may include the following: No full control over the mining equipment: As a customer, with cloud mining you’re never in full control of the hardware you rent, because you cannot physically or remotely access the miner itself.You are forced to trust a third party with your assets. You’ll have to rely on a centralized third‐party service provider to be honest with you and not to pocket a share of earnings for itself.Unexpected charges for maintenance costs.What Are Bitcoin Mining Pools? Early in the days of Bitcoin, it was possible for one miner to mine a steady number of Bitcoins on his or her own. As Bitcoin has become more popular, however, the algorithm has proven too difficult for single miners to handle. That’s why miners have started joining Bitcoin mining pools. Bitcoin mining pools push the processing power of multiple computers together to solve Bitcoin algorithms. Each miner in the pool receives a share of the Bitcoins being mined. That share is proportionate to the amount of processing power input into the pool. Another advancement in mining technology was the creation of the mining pool, which is a way for individual miners to work together to solve blocks even faster. As a result of mining in a pool with others, the group solves many more blocks than each miner would on his own. Bitcoin mining pools exist because the computational power required to mine Bitcoins on a regular basis is so vast that it is beyond the financial and technical means of most people. Rather than investing a huge amount of money in mining equipment that will (hopefully) give you a return over a period of decades, a mining pool allows the individual to accumulate smaller amounts of Bitcoin more frequently. When deciding which mining pool to join, one needs to weigh up how each pool shares out its payments and what fees it deducts. There are many schemes by which pools can divide payments. Most of which concentrate of the number of shares which a miner has submitted to the pool as proof of work. A mining pool sets a difficulty level between 1 and the currency’s difficulty. If a miner returns a block which scores a difficulty level between the pool’s difficulty level and the currency’s difficulty level, the block is recorded as a ‘share’. There is no use whatsoever for these share blocks, but they are recorded as proof of work to show that miners are trying to solve blocks. They also indicate how much processing power they are contributing to the pool the better the hardware, the more shares are generated. The other factor to consider is how much the pool will deduct from your mining payments. Typical values range from 1% to 10%. However, some pools do not deduct anything. It is important to note that mining pool should not exceed over 50% of the hashing power of the network as this could lead to 51% attack for the Bitcoin network. If a single entity ends up controlling more than 50% of a cryptocurrency network’s computing power, it could wreak havoc on the whole network. Commonly Used Pool Payment MethodsMajor schemes invented in calculating the share(s) of each member include: Pay-per-Share (PPS):This is the most basic version of dividing payments. This method shifts the risk to the pool, guaranteeing payment for each share that’s contributed. Thus, each miner is guaranteed an instant payout. Miners are paid out from the pool’s existing balance, allowing for the least possible variance in payment. However, for this type of model to work, it requires a very large reserve of 10,000 BTC to cover any unexpected streaks of bad luck. Double Geometric Method (DGM):The DGM model is a hybrid approach that enables the operator to absorb some of the risk. Here, the operator receives a portion of payouts during short rounds and then returns it during longer rounds to normalize payments for pool participants. Bitcoin Pooled Mining (BPM):BPM is a payment model where older shares from the beginning of a block round are given less weight than more recent shares. One of the biggest benefits of BPM is that its design inherently reduces the ability to cheat the mining pool system by switching pools during a round. This model is also known as “SLUSH’S POOL” How to Start Bitcoin Mining Anyone with an internet connection and basic computer hardware can participate in Bitcoin mining. Unfortunately, “participating” in Bitcoin mining isn’t the same thing as actually making money from it. The new ASIC chips on the market today are specifically designed for mining Bitcoin. They’re really good at Bitcoin mining, and every time someone adds a new ASIC-powered computer to the Bitcoin network, it makes Bitcoin mining that much more difficult. Another thing to consider before mining Bitcoins is that you’ll need to pay for electricity and hardware. Those are the only two real costs associated with Bitcoin mining. Some people have purposely based their Bitcoin mining operations near cheap sources of electricity. By relocating to these areas and operating large Bitcoin mining networks, you can mine Bitcoins at the cheapest possible rate. North America’s largest Bitcoin mining operation, for example, is run by MegaBigPower and is located on the Columbia River in Washington State. The Columbia River provides an abundance of hydroelectric power to the surrounding area, making that part of Washington State the cheapest source of electricity in the nation. Electricity is used not only to power the computers, but also to keep them cool. Just like people base their Bitcoin mining operations near sources of cheap electricity, some people have purposely placed their Bitcoin mining operations in places with cool climates. In any case, here’s a basic step by step guide you’ll need to go through to start mining Bitcoin: Step 1) Go to and download the Bitcoin client for your OS Step 2) Install the client and let it download the Bitcoin block chain. That block chain is about 6GB in size. You can also order the Bitcoin block chain on a DVD if you don’t want to burn through that much data. Step 3) Once your client has fully updated, you’ll need to click “New” in the Bitcoin client to get a new Bitcoin wallet. Your wallet is just a long alphanumeric sequence. Make sure you keep a copy of your wallet.dat file on a thumb drive. Print a copy out and keep it in a safe location. Put a copy in cloud storage. You do this because if your computer crashes, then you’ll lose all your Bitcoins if you can’t access the wallet.dat file. Step 4) Join a Bitcoin mining pool. There are thousands of Bitcoin mining pools on the internet today. If you don’t join a pool, then you’re probably never going to make any money from Bitcoin mining. The algorithms are just too difficult for single users to solve and you’re unlikely to be awarded Conclusion: Should You Start Bitcoin Mining?Ultimately, Bitcoin mining is becoming an arms race. In the early days, anyone with a decent PC could generate Bitcoins through Bitcoin mining. Today, you need to collaborate with other Bitcoin miners in pools, strategically choose the location of your Bitcoin mining operation, and purchase ASIC-powered computers that are specially designed to handle Bitcoin mining. Unless you’re prepared to do all of those steps, Bitcoin mining will be a frustrating and unprofitable operation. [FREE] Get Our Best Crypto Trading, Mining & Investing Hacks: *Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews I will never give away, trade or sell your email address. You can unsubscribe at any time. Review Review

Pro:High paying referral program Low fees Sell back option of the mining contractsCon:Lack of information on the company Clients are unable to select mining pools No social media presenceAt Terabox, clients can join the easiest and most efficient way of bitcoin mining in the cloud. The competitive prices along with the free trial attracts many customers to Terabox to try out their services. Once choosing the cloud mining service provided by Terabox, clients no longer need to worry about the issues that hardware mining can go along with. No tax or custom issues, shipping costs upon equipment purchase, no need to bother with hardware upgrades to keep up with difficulty level. Cloud mining does not make noise or heat and does not require any electricity costs. Clients at Terabox can benefit however all the benefits and earnings that cyptocurrency mining can provide. About TeraboxTerabox offers cloud mining contracts for bitcoin since November 2014. The About section on the Terabox website shows couple of pictures about the mining farm. The mining rigs are nicely organized in a server room, although the equipment itself is not visible on any picture. This mysteriousness follows the company along as there is no background information on the company’s location, owners or founders. The domain registration was done through Privacy Inc –  company specialized to value their clients privacy very much. They want to keep their identity as secretly as possible. For a cloud mining company it is very suspicious, if they do not provide company information or at least it cannot be tracked back, on a market where distrust is at a very high level. How can they trust clients to invest in their services if they do not even know who are they paying the bills to? Terabox on Social MediaTwitter: AddressN/A Services ProvidedTo sign up at Terabox, users need to provide login credentials and their account is created right away. After purchasing hashpower in the cloud based bitcoin mine, the mining rigs start to earn profits to the clients immediately. Customers can later decide whether to keep the earnings on their account or have it reinvested into further hashpower automatically. Terabox guarantees to have the lowest available price compared to its competitors by continuously monitoring the market rates. The live account dashboard show real time results to the clients in a transparent and user friendly way, so customers can be on the top of their earnings all the time. Users are not able to select mining pools at Terabox cloud mining. They justify this by the fact that they developed a software that always choose that mining pool which earns the most, so it is more profitable to the customers. The cloud mining contracts at Terabox are expiring after 5 years term automatically. Before the expiration date, Terabox offers the unique opportunity to sell back contracts to the company. Certain holdback periods are applicable before the purchased contracts can be sold back, depending on the frequency of the payouts. Manual contracts can be sold at anytime, but contracts with weekly payout must wait 60 days and the owners of monthly payout contracts must wait 90 days before these contracts can be sold back to Terabox. At Terabox, clients may refer new customers to sign up for cloud mining services. In exchange, they receive 10% share from the purchased hashpower via the referral program. This 10% is a very high rate compared to the other cloud mining affiliate programs out there. Terabox only accepts bitcoin as payment. There is no other option, like credit cards or wire transfers or alternative payment providers such as PayPal. Just the plain, old bitcoin is accepted at Terabox Fees and Pricing ScheduleIn order to see the fees of the cloud mining contract, users have to  register first at Terabox. After registration, users can pay for the cloud mining services. Users can purchase hashpower from 1 GH/s up to even 600 000 GH/s for the bitcoin cloud mining service. The pricing schedule of the plans are based on the payout frequency. The less frequent the payout, the cheaper the cloud mining contract is at Terabox. The bitcoin cloud mining contracts are priced in a range from 0.11BTC to 0.16BTC  for each contract that consist of 1000 GH/s mining power. The manual contract costs 0.16 BTC, in this case clients may cash out the earning anytime they wish to do so. The contracts with weekly payout costs 0.14 BTC and the contracts with monthly payout costs 0.11 BTC. Terabox has a nicely built calculator that shows the clients the cost of the cloud mining activity if the desired hashpower is given. The smallest fraction of mining power available for purchase is 1 GH/s. There are also four different vouchers available at Terabox with predefined amount of hashpowers in the amount of 15 / 100 / 250 / 500  GH/S which can be purchased for the clients themselves or can be given as a gift as well. As a special sign up bonus, Terabox offers 2500 GH/s mining power after registration. If the new client purchases any amount of hashpower within one week after registration, Terabox allocates an additional 2500 GH/s mining power to boost earnings at the beginning. Terabox offers cloud mining couponsto give new customers one reason more to sign up with them. Terabox User ExperienceTerabox is proud of its support team. On the website they promise that the responses to each queries are made within 12 hours and the average answer time is only 1 hour. This is definitely one of the fastest support option available on the market. At least this is what they promise on the website, but in fact there are many user complains online that the support team is not responding to their questions. Also there are couple of unsatisfied clients who were unable to cash out earnings after a certain period of time from their Terabox account. The only social media account that Terabox has is a Twitter account. Even that one is not updated regularly. Although they have 150 followers, there is only one tweet about their launch in 2014. There is no other social media presence about Terabox and they are not online on any bitcoin forum either. Overall ConclusionThe pricing transparency and low fees may attract many customers to Terabox bitcoin cloud mining. The special features like sell back option of contracts and the referral program that is paying high share are definitely something worth considering. However the lack of information on the company background and the missing social media presence can make users doubtful, whether Terabox is a legitimate cloud mining provider at all. Proshigh paying referral programlow feessell back option of the mining contractsConslack of information on the companyclients are unable to select mining poolsno social media presenceGo to Terabox.meWrite a Review Cancel ReviewName: E-Mail: (will not be published)


last updated on 08/11/2018 (dd/mm/yyyy) INSTALLATIONDownload the latest RELEASE (.zip package) from it to your Desktop (MultiPoolMiner will NOT work from folders such as "C:\Program Files\")Make sure you have all pre-requisites installed/updated from the IMPORTANT NOTES section below.Right-click on the (required) Start.bat file and open it with a Notepad application. Multiple start.bat files are included as examples.Edit the Start.bat file with your details (such as YOUR username, wallet address, region, worker name, device type). New users should NOT edit anything else. Please see COMMAND LINE OPTIONS below for specification and further details.Save and close the Start.bat file you just edited.Launch the Start.bat file you just edited.Let the benchmarking finish (you will be earning shares even during benchmarking).Done. You are all set to mine the most profitable coins and maximise your profits using MultiPoolMiner. IMPORTANT NOTESIt is not recommended but to upgrade from a previous version of MultiPoolMiner, you may simply copy the 'Stats' folder.Having PowerShell 6 installed is now a requirement. Windows 64bit, All other versionsMicrosoft .NET Framework 4.5.1 or later is required for MultiPoolMiner to function properly. Web InstallerCCMiner (NVIDIA cards only) may need 'MSVCR120.dll' if you don't already have it: Make sure that you install both the x86 and the x64 versions.CCMiner (NVIDIA cards only) may need 'VCRUNTIME140.DLL' if you don't already have it: Make sure that you install both the x86 and the x64 versions.It is highly recommended to set Virtual Memory size in Windows to at least 16 GB in multi-GPU systems: Computer Properties -< Advanced System Settings -< Performance -< Advanced -< Virtual MemoryPlease see the FAQ section on the bottom of this page before submitting bugs and feature requests on Github. and Stats are produced in text format; use them when submitting issues.Currently mining with up to 6 GPUs is fully supported. Where required advanced users can create additional or amend current miner files to support mining with more than 6 graphics cards.COMMAND LINE OPTIONS(case-insensitive - except for wallet addresses (e.g. BTC), see Sample Usage section below for an example)Listed in alphabetical order. Note: For basic operation not all parameters must be defined through start.bat. -AlgorithmSupported algorithms sorted by pool can be found at The following algorithms are currently supported: Bitcore, Blakecoin, Blake2s, BlakeVanilla, C11, CryptoNightV7, CryptoNightHeavy, Ethash, X11, Decred, Equihash, Groestl, HMQ1725, HSR, JHA, Keccak, Lbry, Lyra2RE2, Lyra2z, MyriadGroestl, NeoScrypt, Pascal, Phi, Phi2, Phi1612, Polytimos, Quark, Qubit, Scrypt, SHA256, Sib, Skunk, Skein, Timetravel, Tribus, Veltor, X11, X12, X11evo, X16R, X16S, X17, Yescrypt*Note that the list of supported algorithms can change depending on the capabilities of the supported miner binaries. Some algos are now being mined with ASICs and are no longer profitable when mined with CPU/GPU and will get removed from MPM. Special parameters:ethash2gb - can be profitable for older GPUs that have 2GB or less GDDR memory. It includes ethash coins that have a DAG file size of less than 2GB (and will be mined when most profitable). Ethereum and a few other coins have surpassed this size therefore cannot be mined with older cards.ethash3gb - can be profitable for older GPUs that have 3GB or less GDDR memory. It includes ethash coins that have a DAG file size of less than 3GB (and will be mined when most profitable). Ethereum and a few other coins have surpassed this size therefore cannot be mined with older cards.decrednicehash - if you want to include non-dual, non-Claymore Decred mining on Nicehash. NiceHash created their own implementation of Decred mining protocol.Note that the pool selected also needs to support the required algorithm(s) or your specified pool (-PoolName) will be ignored when mining certain algorithms. The -Algorithm command is higher in execution hierarchy and can override pool selection. This feature comes handy when you mine on Zpool but also want to mine ethash coins (which is not supported by Zpool). WARNING! If you add all algorithms listed above, you may find your earnings spread across multiple pools regardless what pool(s) you specified with the -PoolName command. -CreateMinerInstancePerDeviceModelNewer miner files can create separate instances for each card model. This increases profit. Not all miners currently support this feature (more coming).By default this feature is turned off. To enable add '-CreateMinerInstancePerDeviceModel' to your start batch file.Note that this will trigger some benchmarking. -CoinName [Zcash, ZeroCoin etc.]Limit mining to the listed coins only; this is also a per-pool setting (see Advanced Configuration)Note: Only the pools ending in ...Coins expose the coin name in their API. -ConfigFile [Path\ConfigFile.txt]The default config file name is '.\Config.txt'If the config file does not exist MPM will create a config file with default values. If the file name does not have an extension MPM will add .txt file name extension.By default MPM will use the values from the command line. If you hardcode config values directly in the config file, then these values will override the command line parameters (see Advanced Configuration). -Currency [BTC, USD, EUR, GBP, ETH ...]Choose the default currency or currencies your profit stats will be shown in. -DelaySpecify the number of seconds required to pass before opening each miner. It is useful when cards are more sensitive to switching and need some extra time to recover (eg. clear DAG files from memory) -ExcludeCoinNameSimilar to the -CoinName command but it is used to exclude mining unwanted coins; this is also a per-pool setting (see Advanced Configuration) Note: Only the pools ending in ...Coins expose the coin name in their API. -DeviceNameChoose the relevant GPU(s) and/or CPU mining. [CPU, GPU, GPU#02, AMD, NVIDIA, AMD#02, OpenCL#03#02 etc.] -DisableDualMiningTo prevent dual algorithm mining, add -DisableDualmining to your start batch file. -DonateDonation of mining time in minutes per day to aaronsace. Default is 24, minimum is 10 minutes per day (less than 0.7% fee). The downloaded miner software can have their own donation system built in. Check the readme file of the respective miner used for more details. -ExcludeAlgorithmSimilar to the -Algorithm command but it is used to exclude unwanted algorithms. Supported algorithms sorted by pool can be found at; this is also a per-pool setting (see Advanced Configuration) -ExcludeCoinName [Zcash, ZeroCoin etc.]Similar to the -CoinName command but it is used to exclude selected coins from being mined; this is also a per-pool setting (see Advanced Configuration) Note: Only the pools ending in ...Coins expose the coin name in their API. -ExcludeDeviceNameSimlar to the -DeviceName command but it is used to exclude unwanted devices for mining. [CPU, GPU, GPU#02, AMD, NVIDIA, AMD#02, OpenCL#03#02 etc.] -ExcludeMinerNameSimilar to the -MinerName command but it is used to exclude certain miners you don't want to use. This is useful if a miner is causing issues with your machine. A full list of available miners and parameters used can be found here: Newer miners, e.g. ClaymoreEthash create several child-miner names, e.g. ClaymoreEthash-GPU#01-Pascal-40. These can also be used with -ExcludeMinerName. -ExcludePoolNameSimilar to the -PoolName command but it is used to exclude unwanted mining pools. -IgnoreFeesBeginning with version 3.1.0 MPM makes miner and pool fees part of the profitability calculation. This will lead to somewhat lower, but more accurate profit estimates.Set this flag to ignore miner and pool fees (as older versions did) -IntervalMultiPoolMiner's update interval in seconds. This is a universal timer for running the entire script (downloading/processing APIs, calculation etc). It also determines how long a benchmark is run for each miner file (miner/algorithm/coin). Default is 60. -MinerNameSpecify to only include (restrict to) certain miner applications. -MinerstatusKeyBy default the MPM monitor uses the BTC address (-Wallet) to identify your mining machine (rig). Use -MinerstatusKey [your-miner-status-key] to anonymize your rig. To get your minerstatuskey goto to -MinerstatusURL and monitor your mining rig's status by including the command above. Wallet address must be set even if you are only using MiningPoolHub as a pool. You can access the reported information by entering your wallet address on the address. By using this service you understand and accept the terms and conditions detailed in this document (further below). -PoolName [ahashpool, ahashpoolcoins, blazepool, blockmasters, blockmasterscoins, hashrefinery, miningpoolhub, miningpoolhubcoins, nicehash, yiimp, zergpool, zergpoolcoins, zpool, zpoolcoins]The following pools are currently supported (in alphabetical order): - AHashPool / AHashPoolCoins in BTC (Bitcoin address must be provided using the *-Wallet* command)- BlazePool in BTC (Bitcoin address must be provided using the *-Wallet* command)- BlockMasters / BlockMastersCoins in BTC (Bitcoin address must be provided using the -wallet command, see below), or any currency available in API (Advanced configuration via config file required, see below)Pool allows mining selected coins only, e.g mine only ZClassic (Advanced configuration via Config.txt required, see below)- HashRefinery http://pool.hashrefinery.comPayout in BTC (Bitcoin address must be provided using the *-Wallet* command)- MiningPoolHub / MiningPooHubCoins 'miningpoolhub' parameter uses the 17xxx ports therefore allows the pool to decide on which coin is mined of a specific algorithm- 'miningpoolhubcoins' allows for MultiPoolMiner to calculate and determine what is mined from all of the available coins (20xxx ports).Usage of the 'miningpoolhub' parameter is recommended as the pool have internal rules against switching before a block is found therefore prevents its users losing shares submitted due to early switching. A registered account is required when mining on MiningPoolHub (username must be provided using the *-Username* command).Payout in BTC (Bitcoin address must be provided using the *-Wallet* command), or any currency available in API (Advanced configuration via config file required, see below)Pool allows mining selected coins only, e.g mine only ZClassic (Advanced configuration via config file required, see below)- Nicehash in BTC (Bitcoin address must be provided using the *-Wallet* command)- NLPool in BTC (Bitcoin address must be provided using the -wallet command, see below), or any currency available in API (Advanced configuration via config file required, see below)Pool allows mining selected coins only, e.g mine only ZClassic (Advanced configuration via Config.txt required, see below)- YiiMP Yiimp is not an auto-exchange pool. Do NOT mine with a BTC address. A separate wallet address for each mined currency must be provided in config file (Advanced configuration via config file required, see below)- Zpool in BTC (Bitcoin address must be provided using the *-Wallet* command), or any currency available in API (Advanced configuration via config file required, see below)***IMPORTANT**: For the list of default configured pools consult 'start.bat.' This does not rule out other pools to be included. Selecting multiple pools is allowed and will be used on a failover basis OR if first specified pool does not support that algorithm/coin. See the *-Algorithm* command for further details and example.*-PricePenaltyFactorDefault factor with which MPM multiplies the prices reported by ALL pools. The default value is 1 (valid range is from 0.1 to 1.0).E.g. If you feel that the general profit estimations as reported by MPM are too high, e.g. %20, then set -PricePenaltyFactor to 0.8.This is also settable per pool - see advanced configuration below. The value set on the pool level will override this global setting. -ProxySpecify your proxy address if applicable, i.e -Region [Europe/US/Asia]Choose your region or the region closest to you. -ShowMinerWindowBy default MPM hides most miner windows as to not steal focus (Miners of API type 'Wrapper' will remain hidden). All miners write their output to files in the Log folder. -ShowPoolBalancesDisplay the balances of all enabled pools (excluding those that are excluded with -ExcludeMinerName) on the summary screen and in the web GUI.Note: Only balances in BTC are listed, other currencies are currently not supported. -ShowPoolBalancesDetailsDisplay extra balances details (total of each currency) and the exchange rates for all currencies on the summary screen. -ShowPoolBalancesExcludedPoolsDisplay the balances of all pools (including those that are excluded with -ExcludeMinerName) on the summary screen and in the web GUI.Note: Only balances in BTC are listed, other currencies are currently not supported. -SSLSpecifying the -SSL command (without a boolean value of true or false) will restrict the miner application list to include only the miners that support secure connection. -SwitchingPreventionSince version 2.6, the delta value (integer) that was used to determine how often MultiPoolMiner is allowed to switch, is now user-configurable on a scale of 1 to infinity on an intensity basis. Default is 1 (Start.bat default is 2). Recommended values are 1-10 where 1 means the most frequent switching and 10 means the least switching. Please note setting this value to zero (0) will not turn this function off! Please see further explanation in MULTIPOOLMINER'S LOGIC section below. -UseDeviceNameForStatsFileNamingMiner speed stat files will use the device model as part of the file name. This keeps benchmark results valid when new cards of a different model are added or when the the order of the cards are change.E.g. CcminerNevermore-GPU#00-GPU#02_Lyra2z_HashRate.txt -< NVIDIA-CcminerNevermore-2xGtx1080ti_Lyra2z_HashRate.txt -UseFastestMinerPerAlgoOnlyUse only use fastest miner per algo and device index. E.g. if there are 2 or more miners available to mine the same algo, only the fastest will ever be used, the slower ones will also be hidden in the summary screen. -UserNameYour username you use to login to MiningPoolHub. -WalletYour Bitcoin payout address. Required when mining on AhashPool, BlazePool, Hash Refinery, Nicehash and Zpool (unless you have defined another payout currency (Advanced configuration via config file required, see below)). -WatchdogInclude this command to enable the watchdog feature which detects and handles miner and other related failures.It works on a unified interval that is defaulted to 60 seconds. Watchdog timers expire if three of those intervals pass without being kicked. There are three stages as to what action is taken when watchdog timers expire and is determined by the number of related expired timers. Stage 1: when 1 timer expires relating to one miner/algorithm combination, the one miner/algorithm combination is kickedStage 2: when 2 timers expire relating to one miner file, the one miner file is kickedStage 3: when 3 timers expire relating to one pool, the pool is kickedWatchdog timers reset after three times the number of seconds it takes to get to stage 3. -WorkerNameTo identify your mining rig. SAMPLE USAGE---------- (check "start.bat" file in root folder) ---------- @cd /d %~dp0 @if not "%GPU_FORCE_64BIT_PTR%"=="1" (setx GPU_FORCE_64BIT_PTR 1) < nul@if not "%GPU_MAX_HEAP_SIZE%"=="100" (setx GPU_MAX_HEAP_SIZE 100) < nul@if not "%GPU_USE_SYNC_OBJECTS%"=="1" (setx GPU_USE_SYNC_OBJECTS 1) < nul@if not "%GPU_MAX_ALLOC_PERCENT%"=="100" (setx GPU_MAX_ALLOC_PERCENT 100) < nul@if not "%GPU_SINGLE_ALLOC_PERCENT%"=="100" (setx GPU_SINGLE_ALLOC_PERCENT 100) < nul@if not "%CUDA_DEVICE_ORDER%"=="PCI_BUS_ID" (setx CUDA_DEVICE_ORDER PCI_BUS_ID) < nul @set "command=& .\multipoolminer.ps1 -Wallet 1Q24z7gHPDbedkaWDTFqhMF8g7iHMehsCb -UserName aaronsace -WorkerName multipoolminer -Region europe -Currency btc,usd,eur -DeviceName amd,nvidia,cpu -PoolName miningpoolhubcoins,zpool,nicehash -Algorithm blake2s,cryptonightV7,cryptonightV8,cryptonightheavy,decrednicehash,ethash,ethash2gb,ethash3gb,equihash,keccak,lbry,lyra2re2,lyra2z,m7m,neoscrypt,pascal,sib,skein,skunk,x16r -Donate 24 -Watchdog -MinerStatusURL 2" start pwsh -noexit -executionpolicy bypass -command "& .\reader.ps1 -log 'MultiPoolMiner\d\d\d\d-\d\d-\d\d.txt' -sort '^[^]' -quickstart"start pwsh -noexit -executionpolicy bypass -command "& .\reader.ps1 -log '^((?!MultiPoolMiner.+.txt).)$' -sort '^[^]*' -quickstart" pwsh -noexit -executionpolicy bypass -windowstyle maximized -command "%command%"powershell -version 5.0 -noexit -executionpolicy bypass -windowstyle maximized -command "%command%" pause ---------- END OF CONTENT OF START.BAT ---------- ADVANCED CONFIGURATIONAdvanced config options are available via config fileMPM supports customized configuration via config files. The default config file name is '.\Config.txt'.If you do not include the command line parameter -ConfigFile [Path\FileName.txt] the MPM will use the default file name. If the config file does not exist MPM will create a config file with default values. If the file name does not have an extension MPM will add .txt file name extension.The default config file contains only the parameters which are also available per command line.Note: More config items are added to the live configuration during runtime. For full list of available config items at runtime see the API at http://localhost:3999/config. All items could also be added manually to the config file (use with caution as this might lead to unpredictable results). The config file is a JSON file and human readable / editable. A good primer for understanding the JSON structure can be found here: Warning: The JSON file structure is very fragile - every comma counts, so be careful when editing this file manually. To test the validity of the structure use a web service like the complete file). Sample content of 'Config.txt'{"VersionCompatibility": "3.1.0","Wallet": "$Wallet","UserName": "$UserName","WorkerName": "$WorkerName","API_ID": "$API_ID","API_Key": "$API_Key","Interval": "$Interval","Region": "$Region","SSL": "$SSL","DeviceName": "$DeviceName","ExcludeDeviceName": "$ExcludeDeviceName","MinerName": "$MinerName","ExcludeMinerName": "$ExcludeMinerName","Algorithm": "$Algorithm","ExcludeAlgorithm": "$ExcludeAlgorithm","PoolName": "$PoolName","ExcludePoolName": "$ExcludePoolName","CoinName": "$CoinName","ExcludeCoinName": "$ExcludeCoinName","Currency": "$Currency","Donate": "$Donate","Proxy": "$Proxy","Delay": "$Delay","Watchdog": "$Watchdog","DisableDualMining": "DisableDualMining","MinerStatusUrl": "$MinerStatusUrl","MinerStatusKey": "$MinerStatusKey","SwitchingPrevention": "$SwitchingPrevention","ShowMinerWindow": "$ShowMinerWindow","UseFastestMinerPerAlgoOnly": "$UseFastestMinerPerAlgoOnly","IgnoreFees": "$IgnoreFees","ShowPoolBalances": "$ShowPoolBalances","ShowPoolBalancesDetails": "$ShowPoolBalancesDetails","ShowPoolBalancesExcludedPools": "$ShowPoolBalancesExcludedPools","CreateMinerInstancePerDeviceModel": "$CreateMinerInstancePerDeviceModel","UseDeviceNameForStatsFileNaming": "$UseDeviceNameForStatsFileNaming","PricePenaltyFactor": "$PricePenaltyFactor","Pools": {},"Miners": {}}There is a section for Pools, Miners and a general section Advanced configuration for PoolsSettings for each configured pool are stored in its own subsection. These settings are only valid for the named pool. CoinName [Zcash, ZeroCoin etc.]Only mine the selected coins at the specified pool. E.g. you do not want to mine Zcash & ZeroCoin at Zpool: "ZpoolCoins": {"CoinName": ["Zcash","ZeroCoin"]}Note: Only the pools ending in ...Coins expose the coin name in their API. ExcludeAlgorithmDo not use the configured algorithms for mining at the specified pool. E.g. you do not want to mine Equihash and Ethash2GB at Zpool: "ZpoolCoins": {"ExcludeAlgorithm": ["Equihash","Ethash2Gb"]}ExcludeCoinName [Zcash, ZeroCoin etc.]Exclude selected coins from being mined at the specified pool. E.g. you do not want to mine Zcash & ZeroCoin at Zpool: "ZpoolCoins": {"ExcludeCoinName": ["Zcash","ZeroCoin"]}Note: Only the pools ending in ...Coins expose the coin name in their API. To change payout currency of a poolIf a pool allows payout in another currency than BTC you can change this. For each pool you can statically add a section similar to this (see http://localhost:3999/config): "Zpool": {"BTC": "$Wallet","Worker": "$WorkerName"}The payout currency is defined by this line:"BTC": "$Wallet", (MPM will use the the wallet address from the start.bat file) E.g. to change the payout currency for Zpool to LiteCoin replace the line for BTC with "LTC": "", (of course you need to insert a real LTC address) "Zpool": {"LTC": ">YOUR_LITECOIN_ADDRESS<","Worker": "$WorkerName"}Note: Not all pools support this, for more information consult the pools web page PricePenaltyFactorIf you feel that a pool is exaggerating its estimations then set a penalty factor to lower projected projected calculations. E.g. You feel that Zpool is exaggerating its estimations by 10% - Set PricePenaltyFactor to 0.9: "Zpool": {..."PricePenaltyFactor": 0.9,...}Advanced configuration for MinersSettings for each configured miner are stored in its own subsection. These settings are only valid for the named miner. Advanced general configurationSettings in this section affect the overall behaviour of MPM and will take precedence over command line parameters. Ignore pool and miner feesBeginning with version 3.1.0 MPM makes miner and pool fees part of the profitability calculation. This will lead to somewhat lower, but more accurate profit estimates. To ignore miner and pool fees (as older versions did) add '"IgnoreFees": true' to the general section: {..."SwitchingPrevention": "$SwitchingPrevention","IgnoreFees": true,...} PricePenaltyFactorDefault factor with which MPM multiplies the prices reported by ALL pools. The default value is 1 (valid range is from 0.1 to 1.0).E.g. You feel that MPM is exaggerating its profit estimations by 20% for ALL pools - Set PricePenaltyFactor to 0.8: }..."SwitchingPrevention": "$SwitchingPrevention","PricePenaltyFactor": 0.8,...} To show miner windowsBy default MPM hides most miner windows as to not steal focus. All miners write their output to files in the Log folder. To show the miner windows add '"ShowMinerWindow": true' to the general section: {..."SwitchingPrevention": "$SwitchingPrevention","ShowMinerWindow": true,...}Note: Showing the miner windows disables writing the miner output to log files. Miners of API type 'Wrapper' will remain hidden. Pool BalancesMPM can gather the pending BTC balances from all configured pools. To display the balances of all enabled pools (excluding those that are excluded with -ExcludeMinerName) on the summary screen and in the web GUI add '"ShowPoolBalances": true' to the general section:{..."SwitchingPrevention": "$SwitchingPrevention","ShowPoolBalances": true...} To display the sum of each currency in the balances (depending on 'ShowPoolBalancesExcludedPools' including those that are excluded with 'ExcludeMinerName') and the exchange rates for all currencies on the summary screen add '"ShowPoolBalancesDetails": true' to the general section: {..."SwitchingPrevention": "$SwitchingPrevention","ShowPoolBalancesDetails": true,...}To display the balances of all pools (including those that are excluded with -ExcludeMinerName) on the summary screen and in the web GUI add '"ShowPoolBalances": true' to the general section:{..."SwitchingPrevention": "$SwitchingPrevention","ShowPoolBalancesExcludedPools": true...}Note: Only balances in BTC are listed, other currencies are currently not supported. Miner speed stats file namingBeginning with MPM 3.1 all miners definition files support an alternate naming scheme for miner speed stat files. They will use the device model as part of the file name. This keeps benchmark results valid when new cards of a different model are added or when the the order of the cards are change. E.g. CcminerNevermore-GPU#00-GPU#02_Lyra2z_HashRate.txt -< NVIDIA-CcminerNevermore-2xGtx1080ti_Lyra2z_HashRate.txtTo use this alternate naming scheme add '"UseDeviceNameForStatsFileNaming": true' to the general section:{..."SwitchingPrevention": "$SwitchingPrevention","UseDeviceNameForStatsFileNaming": true,...} UNPROFITABLE ALGORITHMSAs more and more algorithms can be mined with ASICs mining them with GPUs becomes unprofitable.To add algorithms to the list edit 'UnprofitableAlgorithms.txt' in the MPM directory. ["Bitcore","Blake2s","Blakecoin","BlakeVanilla","CryptoLight","CryptoNight","Groestl","Keccak","KeccakC","Lbry","Lyra2RE","Decred","Quark","Qubit","MyriadGroestl","Nist5","Scrypt","ScryptN","SHA256d","SHA256t","Sia","Sib","X11","X13","X14","X15"] Note: MPM will no longer mine/benchmark these algorithms as main algorithms, but they will still be used as secondary algorithm for dual miners. MULTIPOOLMINER'S LOGICGeneral overview:The various pools estimated profit values (visible on their respective web pages) are determined by the pools themselves. Each algorithm's estimated profit value is a combination of the current mined coin's last known exchange value in BTC, the coins network difficulty (or network hashrate) and the current pools overall hashrate.MPM polls all pools it knows about (enabled or not) on a pre-defined interval (default is every 60 seconds) to gather the pools estimated profit for all of its advertised algorithms. As these profits change at each polling interval (based on the three factors mentioned above), MPM tracks how often and how drastic the changes are per algorithm and records this per-algorithm as a "fluctuation" metric. This fluctuation or margin-of-error is represented in MPM's output as "accuracy". e.g. An algorithm whose reported estimated profit values have a 90% accuracy can be conversely thought of as having a 10% margin-of-error.As MPM repeatedly polls the pools over time, the more correct the reported accuracy (i.e. margin of error) becomes for a particular pools algorithm.Due to the nature of pool-based mining, it is generally considered better to mine longer on algorithms that are most profitable with low margin-of-error over time (i.e. high accuracy). Technically, this takes into account concepts like PPLNS vs. PPS, ramp-up time for reported pool hash rate vs. miner reported hash rates, new/cheap coins with wildly fluctuating exchange prices etc.Switching (or anti-switching) logic:MPM retrieves the estimated profit for all pools/algorithms and filters out any undesired algorithms.The estimated profit for each pool/algorithm combo is reduced by a calculated percentage amount (see below for specifics) to determine a "biased" estimated profit.The "biased" estimated profits for each enabled pool/algorithm are combined with the benchmark hashrates previously calculated for all miners to calculate potential profit for your specific rig.The most profitable miner/algorithm/pool combination for your rig is selected and (if it isn't already running) it is launched.MPM idles for a pre-defined interval of time (default 60 seconds), then repeats the steps above.Formula:[Price] x (1 - ([Fluctuation] x [Switching Prevention] x 0.9^[Intervals Past]))i.e. 123 x (1 - (0.2 x 2 x 0.9^5)where: 123 is BTC1 is 100%0.2 is 80% accuracy0.9 is 10% reduction5 is minutes if interval is 60 secondsExample 1:If SwitchingPrevention = 2 and accuracy of most profitable coin = 90%Then NegativeValue = -20%The negative value then decays by 10% every minute.It can switch at any moment but to put the negative value into perspective:Takes 6 minutes for 20% to reduce to 10%.Takes 28 minutes for 20% to reduce to 1%.Example 2:If SwitchingPrevention = 4 and accuracy of most profitable coin = 90%Then NegativeValue = -40%It takes 13 minutes for 40% to reduce to 10%.0.9 ^ 13 * 40 = 10Determination of "biased" estimated profit:The percentage amount that a reported estimated profit value is reduced, is based on the calculation below. Percent Estimated Profit Reduction = (Margin of Error * SwitchingPrevention) / (Value that grows exponentially based on the number of minutes current miner has been running) This means that the longer the current miner is running, the less MPM takes the Margin of Error into consideration and the less it reduces the estimated profit value. By adjusting the -SwitchingPrevention value up, you increase the effect the Margin of Error has on the calculation and, therefore, increase the amount of current miner run-time required to reduce this effect. In practice, this explains why when you first launch MPM it may pick a pool/algorithm combo that has a lower value in the "Currency/Day" column, as it is favoring a more accurate combo. Over time, assuming the more profitable pool/algorithm stays more profitable, the accuracy will have less and less weight in the miner selection calculation process until MPM eventually switches over to it. Please note, a new install of MultiPoolMiner has no historical information on which to build accurate "margin-of-error" values. MPM will, therefore, sometimes make less desirable miner selections and switch more often until it can gather enough coin data to stabilize its decision-making process. MULTIPOOLMINER WEB GUI:MultiPoolMiner has a built in Web GUI at http://localhost:3999 MULTIPOOLMINER APIMultiPoolMiner allows basic monitoring through its built in API. API data is available at http://localhost:3999/ For a list of supported API commands open [MPM directory]APIDocs.html with your web browser. KNOWN ISSUESThere are known issues with the following miners not submitting shares or show higher hashrate than what they actually do: CCminerLyra2zCCminerLyra2RE2This is not a fault of MultiPoolMiner and nothing can be done on our end. Please raise an issue on their respective github pages. See FAQ#2 on how to exclude these if you wish to do so. FREQUENTLY ASKED QUESTIONSQ1. How do I start using MultiPoolMiner?A1. The 'start.bat' file is an example that shows how to run the script without prompting for a username. Amend it with your username/address/workername and other relevant details such as region. Ensure it is run as Administrator to prevent errors.Q2. A miner crashes my computer or does not work correctly. I want to exclude it from mining/benchmarking. What should I do?A2. Use the -excludeminername command to exclude certain miners you don't want to use. A full list of available miners and parameters used can be found here: Miner says CL device is missing (or not found). How do I resolve this issue?A3. You most likely have NVIDIA cards in your rig. Open the start.bat in a text editor and look for '-devicename amd,nvidia,cpu' and change it to '-devicename nvidia,cpu'. This will disable the AMD exclusive miners and save you plenty of time when benchmarking. You can also exclude the cpu option if you don't want to mine with your processor.Q4. I only want to mine certain algorithms even if they are not the most profitable. I want to exclude algorithms. How do I do that?A4. Open the start.bat in a text editor and look for '-algorithm cryptonightv7,ethash,equihash,groestl,lyra2z,neoscrypt,pascal'. Delete the algorithms you don't want to mine. This can save you some time when benchmarking. You can include any of these or even all of them if you please but bear in mind this can result your earnings to be spread across many pools!Q5. MultiPoolMiner is XX% more profitable. What does this mean?A5. It is showing you the stat for MultiPoolMiner vs the one miner. It means that the calculated earnings of MultiPoolMiner switching to different algorithms would be that much more profitable than if it had just mined that one particular algorithm the whole time. The number is still only an estimate of your earnings on the pool and may not directly reflect what you actually get paid. On MiningPoolHub and other multiple algorithm pools, coins have fluctuating values and MultiPoolMiner switches to the one that is the most profitable at that time. Because each pool has different delays in exchange and payout, the amount you actually earn my be very different. If there is a significant difference in percentage, you might want to reset the profitability stats by running the ResetProfit.bat file. Your actual (but still estimated) earning is shown in the second row.Q6. I want to re-run the benchmarks (changed OC settings, added new cards, etc.)A6. Simply run 'ResetBenchmark.bat' This deletes all files in the /Stats folder. This will force MultiPoolMiner to run the benchmarks again. If you only want to re-run a single benchmark for a coin or algorithm, locate the appropriate stat file for that particular coin or algorithm and delete it. Please note some of the miners can do multiple algorithms therefore have multiple stat files for the same miner and some of them create multiple stat files for the different configuration files they use.Q7. How long does benchmarking take to finish?A7. This is greatly dependant on the amount of selected algorithms and the number of device types chosen in the start.bat file. By default, each benchmark takes one minute. You can speed up benchmarking significantly by omitting unused device types. For example if you have a rig with AMD cards, you can tell MPM not to even launch the NVIDIA or CPU specific miner applications by removing these after the -devicename parameter in the start.bat file.Q8. Is it possible to choose how many GPUs we want to allocate to mining or restrict mining on certain GPUs?A8. This feature will possibly be implemented in the future (planned enhancement for MultiPoolMiner V3) but not yet supported by MultiPoolMiner.Q9. MultiPoolMiner says it cannot find excavator.exeA9. Excavator is developed by Nicehash and their EULA does not permit redistribution of their software which means you need to download Excavator yourself from place it in /Bin/Excavator/ (create the folder if does not exist). This is the permitted use of Excavator. Another solution is to delete the Excavator configuration file from the /Miners folder if you don't plan to use this miner.Q10. MultiPoolMiner is taking up too much space on my driveA10. Simply run 'RemoveLogs.bat' This will delete all unnecessary and/or old log files that can indeed take up a lot of space of your storage device. It is perfectly safe to do so if space is required.Q11. What does 'ResetProfit.bat' do?A11. This will reset your profit statistics and deletes all coin profibility data accumulated since MultiPoolMiner was first launched. This can be helpful when your predicted income stats (calculated average results) are broken which can happen when ie. an existing coin is added to a new exchange and the price falsely skyrockets due to low volume and liquidity. Bear in mind MultiPoolMiner becomes more accurate over time at calculating your profitability and running this scrypt will delete all that recorded data.Q12. Why does MultiPoolMiner open multiple miners of the same type?A12. Not all miners support multiple GPUs and this is a workaround to resolve this issue. MultiPoolMiner will try to open upto 6 instances of some of the miners to support systems with upto 6 GPUs or to overcome other problems found while testing. Doing so makes no difference in performance and donation amount to the miner sw developer (if applicable) will be the same percentage as if it was a single instance run for multiple GPUs ie. if one instance is run for five cards or five instances, one for each of the the five cards, that is still the same 1% donation NOT 5x1%.Q13. MultiPoolMiner does not close miners properly (2 or more instances of the same miner accumulate over time)A13. This is due to miner failure most likely caused by too much OVERCLOCKING. When miner fails it tries to recover which usually means restarting itself in the same window. This causes issues with the API connection to the miner and MultiPoolMiner thinks miner quit and launches another instance as a result. Due to default API port still being used by the first launched but failed miner, MPM can launch many instances of the same miner over time. This behaviour will be improved upon in the future but can only be completely solved by the user by lowering overclock to keep miners and the system stable.Q14. Is it possible to change the payout currency from BTC to something else when mining on yiimp-based pools such as Zpool, Hash Refinery, etc?A14. Yes, see However this is not recommended as your payout will become uncertain as all other payout currencies are internally exchanged therefore you may end up losing your earnings due to pool never having enough coins to pay you!Q15. How do I customise miners to better work with my cards?A15. Some cards may require special parameters to be used in order to make them (more) stable, such as setting intensity for specific miners/algos/GPUs. This can be done by heading to the /Miners folder and editing the relevant miner files. For example, for CcminerTpruvot.ps1 you can replace (mind the spaces!)"x17" = "" # X17with:"x17" = " -i 20" # X17to add intensity setting for that specific algorithm while used in conjuction with tpruvot's ccminer fork. This will result this specific miner on that specific algorithm will use the intensity setting of 20 which may help if you are experiencing driver crashes when using certain cards. Please search relevant forums for correct and recommended settings before changing anything!Q16. I am getting:ErrorCode error = method(handle, name, >IntPtr<Marshal.SizeOf>T<(),h.AddrOfPinnedObject(), out size);A16. Microsoft .NET Framework 4.5.1 or later is required for MultiPoolMiner to function properly. Web InstallerQ17. Is there an option to split earnings? I want to mine 80% of the time to wallet A and 20% of the time to wallet B.A17. This feature is not implemented, however, there are external services you can use to achieve the same such as How to change fault tolerance limit to a higher percentage?A18. Fault tolerance limit was implemented to detect unwanted negative or positive spikes in your hashrate caused by faulty miners or GPUs and prevent these statistics to be recorded to keep your benchmark data preserved in these unfortunate events. You should not feel the need to change this but first try to resolve the issues with your miners and/or devices. That said, if you are absolutely certain you want to change this, you can do so by amending the following line in Include.psm1:[Math]::Min([Math]::Max($Stat.Week_Fluctuation * 2, 0.1), 0.9)From:0.1), 0.9)TO:0.3), 0.75)This will change the fault tolerance limit from +/-10% to +30/-25%.Q19. MultiPoolMiner is not mining the most profitable algorithm. Why?A19. MPM version 2.7 introduced a smarter spike resistance for both of your hashrate and coin difficulty/price ratio. This feature will detect and handle mining accordingly to prevent you losing time and profit. The usual case is, if an algorithm's price fluctuates a lot, then the short time profit might appear to be higher, but by the time you have mined it for a period of time, the coins will be exchanged for a much lower price and your mining will be less profitable. This is due to the PPLNS(+) nature implemented in the pools. To mitigate this effect MPM uses an 24h mean price (if provided by the pool) when determininig the most profitable algo. (#712, #713, query re NH to be resolved/omitted)Q20. I am getting the following error: "NetFirewallRule - Access denied"A20. You cannot put MultiPoolMiner inside directorires such as Program Files. Extract it to a non-restricted or user-created folder such as Desktop, Downloads, Documents, C:\MPM\ etc.Q21. My antivirus says the .zip package contains a virus or MultiPoolMiner tries to download viruses. What should I do?A21. MultiPoolMiner is open-source and used by many users/rigs. It also downloads miners from github releases that are open-sourced projects. That means the code is readable and you can see for yourself it does not contain any viruses. Your antivirus generates false positives as the miner software used by MultiPoolMiner are often included in malicious programs to create botnets for someone who wants to earn a quick buck. There are other closed-source miner program included in the package such as the Claymore miners. These come from legendary ranked or trusted/respected members of the bitcointalk community and used by a large number of users/rigs worldwide. You can exlude these miners if you wish by following the instructions in FAQ#2 and delete their software from your system.Q22. How to disable dual-mining?A22. Add '-DisableDualMining' to your start batch file or to the config file.Q23. How to download and install missing miner binaries?A23. Some miners binaries cannot be downloaded automatically by MPM (e.g. there is no direct download). In these cases you need to download and install them manually. First find the download link "Uri" in the miner file (they are all in the folder 'Miners') and download the binaries. Next locate the destination path "$Path". You need to create the required subdirectory in the 'Miners' folder. Finally unpack the downloaded binary to the destination directory. If the packed file contains subdirectories you must also copy them.REPORTING AND MONITORINGTERMS AND CONDITIONS & PRIVACY POLICYBy enabling the Monitoring Service by setting the -MinerStatusURL to point to described in the Command Line Options section, you agree that the https://multipoolminer.iowebsite can store relevant information about your mining rig(s) in its database that is directly accessible by anyone accessing the with the corresponding wallet address (your BTC address set with the -wallet parameter, alternatively you can use -minerstatuskey parameter). The following data is stored for each mining machine (rig) and overwritten in the database in each script-cycle determined by the -interval parameter.BTC address: all data is stored under and identified by the Bitcoin address set with the -wallet commandWorkerName: the name of the worker you set using the -workername command, also used for sortingMinerName: the current miner software the worker is runningType: device type set using the -devicename command, also used for sortingPool: current pool(s) the worker is mining onPath: the miner application's path starting from /Bin as root. We will not store other user data!Active: time the worker has been active forAlgorithm: the current algorithm the worker is runningCurrent Speed: reported hashrate from the minerBenchmark Speed: benchmarked hashrate for the current algorithm runningPID: process ID of the miner application being usedBTC/day: Estimated Bitcoin earnings per dayThe monitoring service can change, evolve, be unavailable any time without prior notice. The contents of the database will NOT be shared with any third-parties but we reserve the right to create metrics out of it and use its contents to improve or promote our services and MultiPoolMiner. Credits to @grantemsley for the codebase. Copyright © 2017-2018. MultiPoolMiner software is licensed under the GNU General Public License v3.0. This site uses cookies to enhance the user-experience. Any bitcoin donations are greatly appreciated: 1MsrCoAt8qM53HUMsUxvy9gMj3QVbHLazH



Vega Mining - A Consolidated GuideHowdy, I'm @CircusDad.  Getting my setup running has been a fun journey with many a late night.  I have made several new online friends and have leveraged the experiences of those that have gone before.  It's been a fun ride.  This guide will not re-create the ride. This guide summarizes what I found that works and consolidates, step by step, the details you need to get there too.  In many cases this info does not originate with me.  However, I found no one reference available with all the links that worked for me.  Here are all the details in one place.  Enjoy.  Good Luck!  Remember, YMMV. I had been getting a lot of help related questions (which is OK) but I thought a chat forum might help me keep things sorted as I balance mining with the "Dad" part of CircusDad.  It has done far better by providing a great way for us Vega miners to connect.  You should join! *** CLICK HERE TO JOIN THE VEGA MINING SLACK GROUP ***  If your looking for troubleshooting assistance, make sure you checked the FAQfirst (It typically has what you need :-).  The #general channel is a great place to ask questions.   If you do need to reach me directly, you can shoot me a direct message in the Slack.  I go by, @CircusDad. Review Review

Pro:Immediate payouts if hashpower is purchased from bitcoin Unlimited contract length Partner programCon:Maintenance fees for litecoin and bitcoin In case of wire transfers they charge a commission fee Short FAQ sectionBreaking News: Hashflare disables all Bitcoin Mining contracts due to inprofitability. Read more here.   Hashflareturns cryptocurrency mining accessible to everyone. There is no need to buy expensive and complex mining equipment, Hashflare wants to make mining accessible for all users around the globe no matter of age or background. The clients only need to select a desired hashpower and start generating revenue right away with the Hashflare cloud mining service. Earnings with cloud mining becomes more predictable with Hashflare than it used to be during traditional bitcoin hardware mining. The hashrates starts from as little as 10GH/s, so new clients does not need to invest a lot of funds to join the cloud mining business. About HashflareThe Estonian Hashflare is has been founded in 2014 in Tallinn and providing cloud mining services since the beginning of 2015. The technology behind is powered by the HashCoin team that is dealing with blockchain solutions and hardware since 2013. They have been producing ten thousands ASIC miner devices for mining bitcoin, litecoin and other digital currencies. Hashflare partnering with HashCoins ensures continuously developing new mining hardware that is up to date with the newest blockchain technology. The innovations are financed from the company’s own share capital, but they also have special investors who provide additional funding to the startup. The founders of the company are two Estonian digital entrepreneur. Ivan Turyginhas a Business Administration degree and has several years experience in cryptocurrencies. Beside running Hashflare and HashCoins he is also the founder and CEO of Burfa Capital, an Estonia based consultation agency. The other founder of Hashflare is Sergei Potapenkoalso has a Bachelor’s degree in Business Administration from the Tallinna Technical College. Beside Hashflare he is owning a company with a much different profile:  Siberian Timber,  that is importing redwood pine for the UK market. The Hashflare miners are located in a hi-tech, modern facility, where the room temperature and moisture is constantly monitored according to industry standards. This ensures maximum hashpower capacity without the danger of overheat. Hashflare on Social MediaFacebook:, litecoin, ethereum, zcash, dash AddressHashflare, Tartu mnt 43, Tallinn 10128, Estonia Services ProvidedScrypt, SHA256, Ethash, Equihash and X11 algorithms are all running on the GPU equipment provided by Hashcoin. The contracts are all available from 24 hours contract time up until lifetime accesses, except for Ethereum and Zcash where the length of the contract is maximized in 1 year. The cloud mining results at Hashflare show up on the client accounts immediately after payment confirmation and the client receives the first payout just 24 hours after the first block mined. Clients can choose the withdrawal methods from bitcoin, credit cards and wire transfers. The Hashflare mining contracts can be signed from one day up to unlimited time. Clients may use Hashflare services as long as they wish to do, there is no time limit applied. Users allocate their hashpower directly to the mining pool they wish to serve in. At Hashflare, users can join any mining pool they with to do, so the most profitable combination of cloud mining activity can be reached for any client. Then the mined cryptocurrencies are distributed among the Hashflare customers based on their share they bought at the company (PPS method). At registration, Hashflare asks for the country of residence and for the date of birth as well beside the usual user name and password. This information is only used in case of security questions asked if they think the account has been compromised. Hashflare also provides detailed, real-time statistics about the mining activity. They are running a partner program, where the clients can earn up to 10% commission on each purchase of the recommended new user makes. Fees and Pricing ScheduleAs Hashflare provides cloud mining for 5 different algorithms, the pricing is tailored to each cryptocurrency individually. Users may start cloud mining as little investment as $1.20. You can save 3% on the mining fees by using this Hashflare Promo Code. The fees are based on hashpower and also they apply certain maintenance fee also based on the supplied hashpower during a 24 hour window. Maintenance fees are only applicable for Scrypt and SHA256 mining, users mining Ethereum, Zcash or Dash cryptos does not pay any maintenance fee at all. Although on the other hand, these later three currency contracts are only avaliable for 1 year term. Zcash cloud mining has only limited supply at the moment as they only maintain the mining activity until it is profitable for the users. Cloud mining prices are expressed in the form of minimum hashpower provided: Bitcoin with SHA256 algorithm costs $1.20 per 10 GH/s,Litecoin with Scrypt algorithm costs $8.20 per 1 MH/s,Ethereum with Ethash algorithm costs $2.20 per 100 KH/s,Zcash with equihash algorithm costs $2.00 per 0.1H/s,Dash with X11 algorithm costs $3.20 per 1MH/s.Hashflare charges a maintenances fee of $0.01 for 1MH/s litecoin hashpower and $0.004 for 10 GH/s bitcoin hashpower daily, after each 24 hour long mining period. These maintenance fees are not billed to the customers, but deducted directly from the mining results at daily payouts. The fees are deducted in bitcoin based on the daily BTC/USD exchange rate provided by Hashflare. The cloud mining company accepts wire transfers in USD and EUR, although they charge an extra 10 EUR commission fee on all purchases below 50 EUR. VISA and Mastercard are also accepted payment methods but they apply a 3000 USD limit per daily purchases for these. Due to customer protection, on the accounts where the hashpower is purchased with credit cards, there is a 14 day holding period, when the accumulated mined currencies cannot be withdrawn from the account. The immediate payouts are appearing on those accounts where the hashpowers are purchased from bitcoin. Hashflare only allows withdrawals beyond the minimum set for bitcoin at 0.0004BTC and for ethereum at 0.0007ETH. At withdrawals they only charge the transfer fee to the blockchain that is 0.0003 BTC and 0.0006 ETH respectively paid to blockchain. User has a space themed website where it is easy to navigate. The landing page provides all the necessary information for the cloud mining service they offer. Clients like the user friendly interface and the low initial cost of the cloud mining that Hashflare provides. Although sometime issues arise, according to the user feedback the support team handles all problems quickly and diligently. The Helpdesk is operated through Zendesk platform, so they make sure all issues are taken care of.  The FAQ section does not have too many prewritten questions, but includes the most frequent ones and also has a search functionality so users can find solutions quicker. Hashflare care about security. For DDOS protection they are using CloudFlare services and they also recommend for users to use two factor authentication. The website is available in 11 different languages, beside English, Russian, German and Portuguese, the Greek, Turkish, Japanese, Chinese customers can read the pages on their mother tongue. Overall ConclusionHashflare has a very strong hardware background with the cloudminers supplied by HashCoin. They offer cloud mining for five different cryptocurrencies. The contracts last as long as the mining activity – after the maintenances fees charged – is profitable for both bitcoin and litecoin. Hashflare is a good cloud mining choice for those who want to try crypotcurrency mining but doesn’t want to invest too much money upfront as their minimum plan is starting from $1.20. Due to their fee structure however cloud mining on a big scale at Hashflare can become very expensive. Prosimmediate payouts if hashpower is purchased from bitcoinunlimited contract lengthpartner programConsmaintenance fees for litecoin and bitcoinin case of wire transfers they charge a commission feeshort FAQ section    Go to hashflare.ioWrite a Review Cancel ReviewName: E-Mail: (will not be published)

Mining Rig Rentals

The Faster, Smarter, More Powerful way to Rent or Lease Mining RigsWelcome to the faster, smarter, more powerful way to rent or lease crypto currency mining rigs. Whether you're new and want to try mining out before you buy equipment or you're a veteran looking for more hash at a coin launch, is your one stop website. Our service has been developed from the ground up by miners for the mining community. Choose an algorithm to get started! We AcceptBitcoin, Litecoin, Dash and Ethereum accepted here!Join Our community today and discover the amazing benefits you recieve here at MRR, it's easy and free!  Register Now

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