30 hours mining with 10ghs on CEX.io


December 2014 – Our full review of gHash.io, the pool behind is CEX is here

I set up a new account with CEX.io and then lodged some bitcoin on it, and purchased ten gigahashes of bitcoin mining goodness.

Personally, I mine with a small amount on with CEX.io, with some privately hosted crunching power pointing at my main account with BTCGuild. Nothing major, just about 15ghs overall between the two. I’ve used the last six months after burning out my laptop monitor and nearly cooking my GPU mining litecoins (that’s a story for another blog post) to learn how the maths and economics behind bitcoin mining work, and argued with my wife about whether bitcoin is skynet or not, and see the law of diminishing returns kick in in time with the difficulty increasing fortnightly.

So with my private mining, I paid a fixed amount back in March for an agreed timeframe mining away. Luckily, my supplier lets me pick and choose where I want to point my mining at, so I also have stats for a later post about mining on CEX.io with your own hardware. While the amount of shares I’ve submitted there have remained relatively static for the whole six months it’s been running so far on BTC Guild, the interval before hitting the automatic cashpoint have gotten longer. But over the summer I blew most of what I had accumulated on some great steam games using Steamloader, and the rest I stuck onto CEX.io to give it a go. I’ll leave a review of the screens and stuff for a later post, but your miner will hash on the ghash.io pool, and use a shared account between the two sites.

So the process for me, was I had bought some bitcoins and got them sent to my Bitcoin Armory wallet (great and free for those looking for a secure desktop wallet). I went to the Balance page, got my address to send it to, put it into bitcoin armory and sent it. Bitcoin armory flashed up a message saying sent, and the lodgement showed up on the screen in a few seconds. I then realised I’d put too little in, and had put in an extra decimal point so did a second lodgement quickly. After about forty minutes, it had confirmed and been usable in my account. Back to the ghs/btc page, selected how much I had and bought just over 10ghs. This has been running for the last 30 hours, and shows quite well how the maintenance fees work. Block rewards are quite regular with them, given they have about a quarter of the market share, and after six confirmations on ghash the balance gets credited.

Unlike BTCGuild though, where you can just watch your number tick up until it hits the payout point, with CEX.io you have a full service of an exchange. Verify your details with them and you can lodge dollars, but the company is based in London so there’s a good chance Euro will be coming soon. So as you get rewards, you can choose either to let them build up, or reinvest them for fractions of bitcoins. This lets you add a couple of ghs if you want over time.

On my personal account, I saw a big swing in my rewards, like I had with BTCGuild around the overall pool strength. At one point it was 54phs, then it dropped down to 44phs or so, and i saw my block reward payout rise a lot, while the maintenance fee stayed the same. So this meant that when pool speed was high, and had blocks of hours between blocks, the maintenance fee took most of the reward, or in some cases more, but this was offset when there were two or three blocks in the same period.

So my first few days are below, and just keep in mind that ghash.io splits things into ~11 minute shifts, so the first hour and a half figures would include the ramp up in rewards and are stable further down. Where you see a buy order and the total drops, that’s where I’ve reinvested to get a fraction more of processing power. You don’t have to! 🙂

30/08/2014 16:12-0.00000353BTC0.00000753maintenance
30/08/2014 16:120.00000529BTC0.00001106mining
30/08/2014 15:30-0.00000206BTC0.00000577maintenance
30/08/2014 15:300.0000053BTC0.00000783mining
30/08/2014 15:00-0.00000294BTC0.00000253maintenance
30/08/2014 15:000.00000546BTC0.00000547mining
30/08/2014 14:53-0.00004377BTC0.00000001buy
30/08/2014 14:24-0.00000324BTC0.00004376maintenance
30/08/2014 14:240.00000546BTC0.000047mining
30/08/2014 13:45-0.00000618BTC0.00004154maintenance
30/08/2014 13:450.00000548BTC0.00004772mining
30/08/2014 12:27-0.00000941BTC0.00004224maintenance
30/08/2014 12:270.00000531BTC0.00005165mining
30/08/2014 10:29-0.00000147BTC0.00004634maintenance
30/08/2014 10:290.00000546BTC0.00004781mining
30/08/2014 10:10-0.00000353BTC0.00004235maintenance
30/08/2014 10:100.00000547BTC0.00004588mining
30/08/2014 09:29-0.00000647BTC0.00004041maintenance
30/08/2014 09:290.00000547BTC0.00004688mining
30/08/2014 08:07-0.00000118BTC0.00004141maintenance
30/08/2014 08:070.00000529BTC0.00004259mining
30/08/2014 07:53-0.00000765BTC0.0000373maintenance
30/08/2014 07:530.00000547BTC0.00004495mining
30/08/2014 06:17-0.00000089BTC0.00003948maintenance
30/08/2014 06:170.0000053BTC0.00004037mining
30/08/2014 06:06-0.00000383BTC0.00003507maintenance
30/08/2014 06:060.00000532BTC0.0000389mining
30/08/2014 05:20-0.00000236BTC0.00003358maintenance
30/08/2014 05:200.0000053BTC0.00003594mining
30/08/2014 04:49-0.00000471BTC0.00003064maintenance
30/08/2014 04:490.00000529BTC0.00003535mining
30/08/2014 03:510BTC0.00003006maintenance
30/08/2014 03:510.00000529BTC0.00003006mining
30/08/2014 03:50-0.00000147BTC0.00002477maintenance
30/08/2014 03:500.00000529BTC0.00002624mining
30/08/2014 03:30-0.00000265BTC0.00002095maintenance
30/08/2014 03:300.00000547BTC0.0000236mining
30/08/2014 03:00-0.00000147BTC0.00001813maintenance
30/08/2014 03:000.00000546BTC0.0000196mining
30/08/2014 02:38-0.0000003BTC0.00001414maintenance
30/08/2014 02:380.0000053BTC0.00001444mining
30/08/2014 02:37-0.0000003BTC0.00000914maintenance
30/08/2014 02:370.00000529BTC0.00000944mining
30/08/2014 02:30-0.00000324BTC0.00000415maintenance
30/08/2014 02:300.00000547BTC0.00000739mining
30/08/2014 01:51-0.00000236BTC0.00000192maintenance
30/08/2014 01:510.00000546BTC0.00000428mining
30/08/2014 01:24-0.00000412BTC-0.00000118maintenance
30/08/2014 01:240.00000529BTC0.00000294mining
30/08/2014 00:31-0.00000706BTC-0.00000235maintenance
30/08/2014 00:310.00000529BTC0.00000471mining
29/08/2014 23:03-0.00000588BTC-0.00000058maintenance
29/08/2014 23:030.00000529BTC0.0000053mining
29/08/2014 22:22-0.00002688BTC0.00000001buy
29/08/2014 21:52-0.00000089BTC0.00002687maintenance
29/08/2014 21:520.00000533BTC0.00002776mining
29/08/2014 21:39-0.00000059BTC0.00002243maintenance
29/08/2014 21:390.00000529BTC0.00002302mining
29/08/2014 21:30-0.00000294BTC0.00001773maintenance
29/08/2014 21:300.00000531BTC0.00002067mining
29/08/2014 20:56-0.00000236BTC0.00001536maintenance
29/08/2014 20:560.00000548BTC0.00001772mining
29/08/2014 20:26-0.00000177BTC0.00001224maintenance
29/08/2014 20:260.00000547BTC0.00001401mining
29/08/2014 20:04-0.00000618BTC0.00000854maintenance
29/08/2014 20:040.00000531BTC0.00001472mining
29/08/2014 18:460BTC0.00000941maintenance
29/08/2014 18:460.00000529BTC0.00000941mining
29/08/2014 18:45-0.00000118BTC0.00000412maintenance
29/08/2014 18:450.00000529BTC0.0000053mining
29/08/2014 18:32-0.00002361BTC0.00000001buy
29/08/2014 18:310.00000024BTC0.0000236sell
29/08/2014 18:30-0.00000118BTC0.00002336maintenance
29/08/2014 18:300.00000531BTC0.00002454mining
29/08/2014 18:18-0.00000353BTC0.00001923maintenance
29/08/2014 18:180.00000547BTC0.00002276mining
29/08/2014 17:320BTC0.00001729maintenance
29/08/2014 17:320.00000529BTC0.00001729mining
29/08/2014 17:30-0.00000089BTC0.000012maintenance
29/08/2014 17:300.0000053BTC0.00001289mining
29/08/2014 17:21-0.00000206BTC0.00000759maintenance
29/08/2014 17:210.00000547BTC0.00000965mining
29/08/2014 16:53-0.00000206BTC0.00000418maintenance
29/08/2014 16:530.00000549BTC0.00000624mining
29/08/2014 16:28-0.00000588BTC0.00000075maintenance
29/08/2014 16:280.0000053BTC0.00000663mining
29/08/2014 15:15-0.00000177BTC0.00000133maintenance
29/08/2014 15:150.00000546BTC0.0000031mining
29/08/2014 14:54-0.00000089BTC-0.00000236maintenance
29/08/2014 14:540.00000551BTC-0.00000147mining
29/08/2014 14:43-0.00000794BTC-0.00000698maintenance
29/08/2014 14:430.00000546BTC0.00000096mining
29/08/2014 13:04-0.00000412BTC-0.0000045maintenance
29/08/2014 13:040.00000221BTC-0.00000038mining
29/08/2014 12:14-0.00000118BTC-0.00000259maintenance
29/08/2014 12:140.00000119BTC-0.00000141mining
29/08/2014 11:56-0.00000089BTC-0.0000026maintenance
29/08/2014 11:560.00000068BTC-0.00000171mining
29/08/2014 11:46-0.00000265BTC-0.00000239maintenance
29/08/2014 11:460BTC0.00000026mining
29/08/2014 11:10-0.03799976BTC0.00000026buy
29/08/2014 10:450.0342BTC0.038deposit
29/08/2014 09:560.0038BTC0.0038deposit