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RE: Gesesis Mining - News and comments on current situation and comments on GM "press blog release"

in #bitcoin7 years ago

Thank you for your appreciation. If you are a multi-year customer of GM, i assume you may have a ETH contract.
What is your opinion and also your payout (/100mehahash) for day 18.07.2017 in ETH? As for me it was lower than other days with higher ETH mining difficulty....here is an article about this that I wrote just before GM stopped payouts: https://steemit.com/bitcoin/@altcoins101/genesis-mining-asking-my-readers-ethereum-miners-for-comparing-mining-data

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Alert! Coinbase just emailed 44 min ago that I received 0.04516597 LTC from GM.

Now back to your question, with 85Mhs mining power, I received 0.05585 Eth on July 17 and 0.05258 Eth on July 19, then 0.05351 July 21 (dates came from Coinbase and often are 1 day later than GM dates).

did not receive anything on Bittrex.
Now back to my question. You may have a small mining power and payments cumulate. But in GM account you see how much you earned every day even if the amount is too small to be payed and it cumulates. My question was about mining day 18.07.2017 that for me had the smallest amount, an on day 19 and 20 for example even if the difficulty was bigger I received more. And this looked fishy. you can check the diff history at https://etherchain.org/charts/difficulty

Well the problem with your expectation is that you are assuming an incoming data stream that has blocks of data with identical complexity. So that variation of the difficulty factor is the determinator of your payout.

This is not true. The blocks of input have a varying number of transactions and fairly widely varying coin amounts. I would expect the earnings from a block to scale more directly to the sum of coin needing confirmations. The effect of the difficulty factor is more of a speed (time) throttle.

you should use exodus or other wallet where you have controll of your privatekeys. Every exhange warn you that you should not have mining payouts sent to them. And never trust centralised exhanges