How to get btc out of slush pool without mining
Once you understand cryptocurrency mining and have decided to try it out, you may join a mining pool because you're more likely to be rewarded for your work. However, choosing a mining pool can be challenging—there are many to choose from and several questions to answer. Find out what you should look for in a mining pool and how to decide which one you should join. You're able to mine cryptocurrency on a variety of devices if they are capable.
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How to get btc out of slush pool without mining
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How to Mine Bitcoin: The Complete Guide
How should Bitcoin mining be structured? We discuss:. So Pavel. I think people know you pretty well. Ryan, did you want to just introduce yourself to the listeners?
My name is Ryan Ellis. I guess cooperator of Laurentia. Well, yeah. Mostly computer science for grooming the grounds, but lately I do spend most of my time trying to run the company. But I try to be as close to the tech and programming as I can.
We do run a slush pool. We do have this different branch in the company building a mining firmware. So yeah, busy in this area. So the reason we wanted to have a discussion and I think there was sort of, is it a debate? Is it a discussion? So perhaps we could start a little bit of how we got here.
Maybe Pavel, you could help us explain why did mining pools even start in the first place and why is that even a thing? Yeah, it is pretty easy idea, right? Now, Ryan, I want to bring you in. I want to get your thoughts on this idea. Do you agree or disagree with Pavel there, or how would you want to discuss this idea of mining pools?
Your reward cadence is very sparse. If that makes sense. I think a new ASIC even the latest gen probably net you a block find within about 15, days, maybe; maybe less 13, days. And so then I think the question then is more about how should those pools work, how should they be formed and how should the payouts be done?
So Ryan, do you want to spell out where your disagreement is? Well, essentially any pool operator can operate their pool the way they would. But as far as Laurentia pool really just the model is a self custody for miners. I see. So Ryan, could you just spell out for listeners, how is Laurentia Pool different from most of the other mining pools out there? Well, I think there may be another pool that operates as far as the Coinbase derived payout, but that is the biggest catalyst there is receiving your mining reward directly from the network and reducing any intermediaries.
Focusing on self custody and ownership was just very important to me to collaborate with Khan and deliver something to market that we thought would be of high interest. Khan has been around a while. So non-custodial environments. And then when a block is found, it is typically found to an address controlled by a pool operator. During the mining process, a lot of data is collected about the performance of various miners and based on the rate provided to the group.
So the pool, the miners are rewarded certain portion of the found block. There are different scoring systems, how you can calculate what you deserve based on your hash rate in time, and some other various senators, but mostly every scoring system tries to somehow be the correct one or… Once there is an amount that you deserve known the pool creates a transaction and sends the money to you. There are various mechanisms how to prevent transaction dust and how not to send you too many transactions, because you would have to, for example, pay a lot of fees for using a lot of outputs.
And so-and-so typically a miner can set up rules in what time, what frequency, what amounts the [inaudible] should be done. So in slushpool, for example, you can say, Hey, I want payables when I mined 0. It can be. And it is still vast majority of our miners. It can take weeks, even months before there is a reasonable amount for being paid out. Then obviously there is some risk associated with it, but it is a way how to prevent some technical issues with very small transactions.
Oh yeah. I was just going to interject. Every transaction has some resources associated with it. So you want to prevent this.
And as a pool operator, you need to consider the cost associated with sending the coins, because it is either direct as every custodial per operator knows or indirect in terms of reserving space in [inaudible] address, because the bytes in blocks are just bytes in blocks and there are limited.
So sending very small transactions has associated a price or cost with it. So sending a dust transaction is really can be impossible depending on your sats per byte, so to speak with Laurentia Pool.
But again maybe may. So to prevent dust, for example. No essentially firmware is the limit. So a few years ago I Khan had his own sort of group pool and not a solo pool. And you would literally see postpone payments, which would be your dust payments on his school there. Are you able to comment, which are there any in particular that you could name or is it a general comment?
Biggest bottleneck right now happens to be Ant Miner. So two are reserved for our pool operators, myself and con, and then we have 18 open for users and miners. So as far as reward or not filling our blocks completely, we like most pools, I imagine take the highest fees possible. So that the payables will be the largest spirited common strategy. Maybe one commands to the firmware limitation. We did study a lot of available code basis for firmwares before, because obviously you, you try to get as much information as possible and it is just stupid firmware.
It is just stupid code with buffers predetermined before. And the Coinbase transaction is just send us random bytes or opaque bytes. Then some space you can play with to mine more efficiently, and then other bunch of whites. And this is sent to the firmware every single time when a new job is offered by the pool, which is roughly every minute, every 30 seconds. And all these bytes are just smashed together, put some random [inaudible] in it.
And mine and the firmware of, is they needs to do some byte by manipulation and the limitation in my opinions, just based on assumption that the Coinbase transaction has some maximum size and the assumption and the firmware is probably not correct, because [inaudible] transaction in Bitcoin, there are some limitations which are heart, but that the buffers in for Mirage is not a big enough for it.
And we can speculate obviously about, is it intentional or is it just crappy software? And it works so that we will copy it to the next generation, that generation, the next generation. Well, I think intentional is probably a correct term.
And sort of the consensus is in the pooled environment is typically a single, maybe multiple in to Coinbase payouts to the pool. So seeing even larger than that is probably just deemed as not essential. And that sort of mostly my light interpretation of why these changes have taken place. I just thought about the limitation right now.
And you could, you could do a trick like this. You can put one output to the Coinbase and keep it very small to some address you control and to the same block immediately after the Coinbase, you can put any number of payout transactions as you wish. So you would dip on decompose the first transaction immediately in the same block. And then you can just use the, all the transaction space in the block and never hit the problem of like two large gangrenous transaction.
And you would not even discuss or show but the problem then is that people will not see the transactions directly or the miners, but all of your blocks will be visible after that. So you could site set the problem of Coinbase, a size limitation and not to do any custodial thing. But still doable. Maybe you could them support more than 18 users this way, because in principle, I kind of liked the idea of not holding the coins for longer period of time, but there are very strong technical limitations associated with it and not all the miners really need it or wants it, but there is some space or some people who can have this preference.
So I think with us and having a Coinbase transaction again, derive from the block reward is just probably the easiest solution to deliver sort of, I guess, the product that we are looking to bring to market as far as self custody and direct payments with without any intermediaries or custodial solutions which also helps us as far as managing our own organization.
And then [inaudible]. Yeah, buddy, you kind of have to, because somebody has to define how the Coinbase transaction should look like. So you are actually generating the [inaudible] transaction through the block.
So you are doing the payouts in some ways… The scoring apps. So again, in the past, Khan was able to have thousands of users on this group pool. Yeah, absolutely. Besides having to feel the constant inquiries on bringing in their hundred terahertz ASIC and when they expect to pay out, so us having the password and having our server locked is sort of to alleviate that issue at the gate.
You know, it kind of sucks to be a gatekeeper in that aspect. And as far as getting I guess when we do finally get a hash rate on there [inaudible] that all the users or peers are willing to accept them. So Ryan, can I ask then are you proposing this idea that more and more people should be using this kind of model? Or do you just see it, like, this is a niche model. Well, it kind of goes to our philosophy of pool dispersion. But then there is a like inherent problem and pool mining and decentralization because the whole key point of pool is working as a group to limit the variance.
How To Mine Bitcoins
Bitcoin Mining Pools are groups operated and organized by third parties to manage hash power from miners worldwide. These platforms share the resulting Bitcoin in ratio to the hash power that is contributed to this pool. Following is a handpicked list of Top Bitcoin Mining Pools, with their website links. The list contains both open source free and commercial paid software. Binance is one of the best platforms to create a bitcoin wallet.
Bw.com vs slush pool for hashflare cloud gpu mining
This article explains how to find a reliable Bitcoin mining pool. It includes information about using a default mining pool and gives reasons for changing mining pools. Finding a mining pool is a valuable part of mining Bitcoin and other cryptocurrencies. Mining pools allow Bitcoin miners to combine their efforts and share the rewards earned. Using a mining pool almost always results in higher earnings than mining alone. There are numerous pools to choose from, some officially managed by companies and others run by dedicated users. Slush Pool was the first Bitcoin mining pool created and, while it is no longer the biggest, it has a solid community built around it and a lot of support material available to help new miners get started. The most convenient place to find alternative Bitcoin mining pools is Crypto Compare.
Mining Pools Poolin, Slush & BTC.com Announce Support for Taproot
Slush Pool is the first publicly available mining pool, first announced in under the name Bitcoin Pooled Mining Server. The pool shares the transaction fees earned with miners. Let's divert our attention to an alternative means of obtaining cryptocurrencies for a while. Apart from trading, exchanging or buying crypto, there is also the activity known as mining that can be done through third party mining platforms.
Best crypto mining pools of 2022
What Are Bitcoin Mining Pools?
The twenty-first century dictates the new lifestyle rules for people all around the world. Nobody wants to leave the house and work for getting money. Now it is popular to use Bitcoin mining pools. So, what are Bitcoin mining pools? There are lots of pools for mining Bitcoin.
Slush Pool REST API
Reason: control board damaged due to power off in the upgrading process. The final mining income is settled in BTC. It enables quick and painless deployment, easy monitoring, and advanced reporting. Once you achieve stability, you can then try to reduce the power limit or core voltage in very small increments to decrease power consumption and heat generation.
Figure out how to connect to Slush Pool by following these steps:. While mining with unsupported hardware might be possible, it will almost certainly be unprofitable. Also, keep in mind that our support team will not be resolving issues related to unsupported hardware. You can use an existing account if you have one. A single account can be used to mine all supported cryptocurrencies.
Rombiteers are as fast and agile as reindeers. They live in groups and thrive in challenging environments. Just as reindeers, Rombiteers are praised for their endurance. Once upon a time, there was this quirky IT student who got easily bored. He wasn't interested in writing code all day.
Ok first, I'm not associated with the pool other than I am a miner with a decent amount of hashrate. Slushpool was the first mining pool in the world, the first Bitcoin pool and has never added any altcoin mining other than some things merge mined with Bitcoin. Because of ZCash's innovation and the promise the technology represents, they have added ZCash mining to their well respected and distinguished pool. Well this article has some reasons.