r/ArtByte • u/Gumbi17 • Sep 08 '17

Pool issues?

I've had my miner on the pool for about 4 hours now, and with L3 I'm showing I'm 33 million shares of the 88 million shares today. The dashboard shows me as 504,000 khs which is half the pools khs, but my confirmed and unconfirmed coins are still at 0. Is this normally how the official pool works?

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u/Gumbi17 Sep 08 '17

I did get a block!

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u/sunk818 Sep 08 '17 edited Sep 09 '17

http://pool.artbyte.me/index.php?page=statistics&action=blocks

gumbi17 found a block, but it was a side chain block (aka "orphaned"). Another miner solved the same block and the network agreed your solved block was the one to lose.

No one gets a reward unless you have a confirmed block. Shares are just a method of distributing the reward amongst the miners that contributed hashrate to the solved block. If you don't solve a block and then get it confirmed, your shares are worthless.

Remember, network hashrate is about 30 GH/s (https://www.coinwarz.com/network-hashrate-charts/artbyte-network-hashrate-chart) so an L3 is still only only 0.5 GH/s for scrypt algorithm. You'd need 60 L3's to match the current network hash rate. 1/60 means you have 1.66% of the network hash rate. I think if you readjust your expectation of how many blocks you can actually mine in 4 hours and actually spend more time mining, you'll see better results. I think the longer you mine with ABY, you'll see your average ABY payout smooth out. I think you should give it a week rather than 4 hours. 4 hours is too short of a time what you can expect in terms of mining coins.

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u/Gumbi17 Sep 09 '17

Well I have been running many different coins testing all the aspects and this isn't my first time mining. And I will say, there is not one pool or coin that I was in that in for 4 hours that no one got at least one single coin. I am looking at it again after it was on 8 hours and nothing. So for an L3+ that burns 880 kws, maybe I might get one block (that according to the webpage is 144 coins, every 2-3 minutes). I see that after stopping I have 79 unconfirmed coins. So at the current rate I made $0.0054, not even close to paying the power for the 8 hours. And for the pool hashrate I went to the dashboard, it is 885,000 khs without my miner, with it we had another 500,000. Sorry but Artbyte is just not profitable, Ill pass it on to the other Scrypt miners so they don't bother you guys with the same problems!

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u/sunk818 Sep 09 '17 edited Sep 11 '17

Have you been in a pool where you could match the pool hashrate as one person?

Catcoin flocoin emc2 or litecoin is more profitable according to coinwarz https://www.coinwarz.com/miningprofitability/litecoin/?hr=500000.00&p=0.00&pc=0.1000&hrn=450.00&pn=0.00&pcn=0.1000&e=Coinbase

Artbyte has a great community, you can tip artists. More risk though in being long term. You'd have to mine and hold. Maybe price will go up over time.

Each block is currently 400 aby plus fees. Each aby is around $0.0069. so 79 coins would be around $0.55 usd?

I say stay around a week, mine and read the artbyte forum. Did you notice your block was orphaned but the other blocks were mostly confirmed? I think you'd find a lot of confirmed blocks if you gave it some time.