Bitcoin Mining – Ongoing updates

Sunday 20 October 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.00132969 0.00132969 0.00005539
Namecoins 0.11279266 0.11279266 0.00011079

Bitcoin value: 0.2373 USD

Top 20 Miners

Top 20 Miners

Computational Power: 155 Thp/s

On Friday afternoon, I moved all the Bitcoin earned into my online wallet and therefore the value above has been reduced to just what I have earned over the last two days. 23 cents US is actually quite good given how low the expected block payout is now.  This is due entirely to the rocketing price of Bitcoin on Mt Gox. Earlier today it reached $196 USD! Current price on which earnings above has been calculated is $177 USD.

As evidenced in the image to the right, there are now 20 pool miners with over 1,000,000 Mhp/s contributing to the extremely high processing rate of 155 Thp/s. Given the diminishing returns, it would seem that these extra nodes are probably illicit – otherwise it is a race to the bottom financially!

Friday 18 October 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.03320060 0.03320060 0.00006249
Namecoins 0.10784951 0.10784951 0.00012499

Bitcoin value: 5.239 USD

Computational Power: 140 Thp/s

Wednesday 16 October 11.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.03154461 0.03154461 0.00006791
Namecoins 0.10190032 0.10190032 0.00013583

Bitcoin value: 4.883 USD

Computational Power: 132 Thp/s

The price of Bitcoin on the Mt Gox exchange continues to rise making up most of the overnight gain in the value of the coins paid out due to mining. Expected payout per block mined: 0.01053 USD

Tuesday 15 October 12.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.03081227 0.03081227 0.00007490
Namecoins 0.09971358 0.09971358 0.00014980

Bitcoin value: 4.696 USD

Computational Power: 107 Thp/s

While there is a significant growth in the computational power applied to this mining pool and the expected payout per block experiencing ever diminishing returns, the bitcoin earnings have risen higher than expected due to a marked recovery in the Mt Gox exchange value of Bitcoin.

Thursday 10 October 01.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.02717945 0.02717945 0.00008612
Namecoins 0.08984000 0.08984000 0.00017224

Bitcoin value: 3.797 USD

Computational Power: 90 Thp/s

Further significant upgrade in computational power applied to Bitminter mining pool, increase in mining difficulty and further significant drops in expected payout per block – now down to 0.00008612 or $0.01152 USD.

Monday 07 October 01.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.02454658 0.02454658 0.00010279
Namecoins 0.07940302 0.07940302 0.00020559

Bitcoin value: 3.356 USD

Computational Power: 79 Thp/s

Sunday 06 October 10.30am

Mining

Today there has been another jump in the processing power available to the pool. Key users continue to add ever higher levels of hash rates with a sudden new user: mmt with 8.6Ghp/s. It is possible that this new super miner has switched from another

ncreased its hash power to just over 9Ghps! pool for a more advantageous payout method. Whatever the reason, the average small volume miner is unable to compete and obtain a reasonable rate of return. While writing this blog, mmt has i

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.02305673 0.02305673 0.00010599
Namecoins 0.07542260 0.07542260 0.00021198

Bitcoin value: 3.15 USD

Computational Power: 78 Thp/s

Saturday 05 October 03.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.02216153 0.02216153 0.00011948
Namecoins 0.07293740 0.07293740 0.00023897

Bitcoin value: 3.056 USD

Computational Power: 68 Thp/s

Expected earnings per block continues to drop to new lows, with an expected $0.01648 USD per block mined.

Symantec has released a media statement that they have managed to “sinkhole” a portion of a 1.9 million botnet army which has been dedicated to Bitcoin mining among other activities. This may explain the continued increase in hash power yet diminishing returns.

http://www.infoworld.com/d/security/symantec-seizes-part-of-massive-peer-peer-botnet-zeroaccess-227889

================================================================

Friday 04 October 01.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.02152109 0.02152109 0.00013705
Namecoins 0.06962194 0.06962194 0.00027411

Bitcoin value: 2.81 USD

Computational Power: 60 Thp/s

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Thursday 03 October

Silkroad website shutdown by FBI and $3.5 million USD seized in Bitcoin funds causing a fall of BTC value from $155USD to $110USD and recovery to $140USD in the same day.

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Wednesday 02 October 08.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01891582 0.01891582 0.00016866
Namecoins 0.06285223 0.06285223 0.00033732

Bitcoin value: 2.658 USD

Computational Power: 51 Thp/s

================================================================

Tuesday 01 October 09.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01692361 0.01692361 0.00017541
Namecoins 0.05790890 0.05790890 0.00035083

Bitcoin value: 2.393 USD

Computational Power: 51 Thp/s

Today has shown a significant increase in processing power applied to mining of Bitcoins – 10Thp/s.

================================================================

Monday 30 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01599918 0.01599918 0.00019413
Namecoins 0.05498532 0.05498532 0.00038827

Bitcoin value: 2.304 USD

Computational Power: 43 Thp/s

================================================================

Sunday 29 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01543915 0.01543915 0.00018703
Namecoins 0.05166501 0.05166501 0.00037407

Bitcoin value: 2.21 USD

Computational Power: 44 Thp/s

================================================================

Saturday 28 September 08.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01507668 0.01507668 0.00018602
Namecoins 0.04836704 0.04836704 0.00037205

Bitcoin value: 2.103 USD

Computational Power: 43 Thp/s

 =========================================================

Friday 27 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01452670 0.01452670 0.00019201
Namecoins 0.04543342 0.04543342 0.00038402

Bitcoin value: 1.97 USD

Computational Power: 42 Thp/s

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Thursday 26 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01396061 0.01396061 0.00010382
Namecoins 0.04355401 0.04355401 0.00020764

Bitcoin value: 1.89 USD

Computational Power: 41 Thp/s

Note: Today the server (Raspberry Pi) was still running but the cgminer process has stopped. There were no errors in the hup.out file. Deleted the file, rebooted RPi and restarted the process. It appears that cgminer stopped just before midnight so there is a 10 hour period of no mining.

================================================================

Wednesday 25 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01240527 0.01240527 0.00021587
Namecoins 0.03821270 0.03821270 0.00043175

Bitcoin value: 1.67 USD

Computational Power: 38 Thp/s

================================================================

Tuesday 24 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01051236 0.01051236 0.00022697
Namecoins 0.03402111 0.03402111 0.00045395

Bitcoin value: 1.401 USD

Computational Power: 38 Thp/s

================================================================

Monday 23 September 09.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.01006930 0.01006930 0.00022868
Namecoins 0.03313981 0.03313981 0.00045737

Bitcoin value: 1.310 USD

Computational Power: 36 Thp/s

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Sunday 22 September 02.15pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.00801428 0.00801428 0.00023965
Namecoins 0.02631306 0.02631306 0.00047930

Bitcoin value: 1.050 USD

Computational Power: 35 Thp/s

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Saturday 21 September 05.30pm

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.00661522 0.00661522 0.00023671
Namecoins 0.02259126 0.02259126 0.00047342

Bitcoin value: 0.8646 USD

================================================================

Friday 20 September 10.30am

Personal Assets Balance Unconfirmed Future Expected per block
Bitcoins 0.00588121 0.00588121 0.00026182
Namecoins 0.01814631 0.01814631 0.00052364

Bitcoin value: .80 USD (Mt Gox exchange rate)

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About blognobody

Interested in the world around me and the development of knowledge.
This entry was posted in Bitcoin and tagged . Bookmark the permalink.

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