Mining Pools


#1

Hi just curious what the go was with the mining pools now finding blocks at over such long periods of time. I was mining over 50 Safex a day over a week ago and now lucky to get 2 Safex a day ?

I see the network Hash rate is currently at 116Mh/s, yet all the mining pools listed on Safex news are currently at a total of 116KH/s. Are there solo miners out there making up the large difference in hash rate and finding all the blocks ? Hence leaving us with not much to find ?

By the way I’m still fairly new to mining so be nice :slight_smile:

Cheers


#2

I’m newbie what equipment you use for mining to get 50 a day


No rewards
#3

HI Richy, I have 6 x AMD RX570 and 2 x AMD Vega 56 running on ethos.


#4

At the moment running my rig costs approx $7 for a 24 hour period in power. Im tyring to justify mining safex for so little return if there are barely no rewards with such a high network hash rate.


#5

I got this reply in the Discord Channel ( we experienced a spike in hash rate which caused the network’s difficulty score to increase exponentially. In turn, it’s now taking a while for blocks to be found.

It shouldn’t be much longer until we’re back to normal.

Fixes are being put in place to help avoid it in the future.)


#6

Ok great thanks for the update :slight_smile:


#7

At this point the mining contributions are a bit irregular so it makes people with a lot of hash power take advantage of the situation -> and the network gets stalled, basically:

  1. People turn off mining, so support goes down
  2. Someone with a lot of power sees that, and comes in and starts mining progressively
  3. By the time to stronger miner reaches their peak, they drop their mining
  4. The network gets stuck requiring an exorbitant mining contribution

Problem result: you get inconsistent rewards, transactions take too long to process

Solution: We establish ideal conditions at a mining farm (which is already in progress in both Serbia and in USA)

This mining farm will provide uninterrupted consistent hashing power which thwarts off the “big miners” who just come to pillage and leave us high and dry.

Your options: if you have cheap electric, I suggest keep mining; Otherwise be on the lookout for the farms getting set up and the consistency of mining rewards will come back since the network will have a more stable consistent mining rate.


#8

Thanks for the update Dan