Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as "mining" as an analogy to gold mining because it is also a temporary mechanism used to issue new coins. Unlike gold mining, however, crypto-coin mining provides a reward in exchange for useful services required to operate a secure payment network.
You can see all of the above for your wallet address on the Workers page or by using our API. When mining equipment is disconnected the worker will not appear on the page however you can search using your wallet address to pull up your stats for Hashrate, Shares, Paid and Balance etc. You don't have to be actively connected to get a payout if a block is found and your not mining at the time as long as you have provided enough shares in the round the block is found and have a miniumum balance of 0.01 to meet the payout threshold.
Please go to the "Getting Started" page to get started, here you will find the stratum addresses and ports. stratum+tcp://stratum.coinminerz.com is our mining address. 33XX ports are for mining equipment and 35XX ports are for NiceHash or Mining Rig Rentals or another cloud hashing provider. 33XX ports are all low to high difficulty and will find the best difficulty for your equipment. 35XX ports are all fixed high difficulty especially for NiceHash, MRR and other hashing providers etc.
This will only happen when you have a misconfigured hardware/software where your miner sends lots of problematic shares. Double check your mining software is running the latest compatible version, the configuration is correct & firmware for mining hardware is up to date. If you still have issues please reboot your router and miner. If issues still persist please get in touch with us here via email and let us know your mining username and IP address along with coin your mining and which stratum: Mining Support
Every now and again a block can get rejected or orphaned as it's not a valid solution for the blockchain or network at all. This is because the answer isn't even acceptable for example an orphan block is an acceptable solution in terms of the answer but it is only made an orphan as it doesn't fit the chain and get's pushed out (or another miner/pool found it a couple of miliseconds before we did). A rejected block doesnt even make it to the network to see if it is valid as the coin node (pool wallet) will deny it straight away. This can be due to mining equipment giving wrong block solutions back to the pool. Rejected blocks and orphan blocks do not give any coins and therefore there will be no payouts, however all accepted shares are still kept until the next correct block is found so nothing is lost.
Coins generated by a block will not be available to you right away. They will take some time to be confirmed by the entire coin network before they are paid out by the pool. Usually coins have a confirmation set to 120 although this can vary from coin to coin. What that actually means: the network (not the pool) has to discover 120 additional blocks on top of the one found by the pool to confirm it and make a payment (if the minimum threshold of 0.01 has been met). Please note that some coins have much higher confirmation limits in place and this is why you can see blocks in a pending state for a while before they go to confirmed. If you want to check the confirmations on pending blocks you can do so using our Blocks page here: https://www.coinminerz.com/blocks or using our API here: https://www.coinminerz.com/api/payments You can also see the past 50 pool payments for each coin on our Payments page, simply click the Transaction ID's and you can see when, how much and to who the pool has paid for each coin pool.
Once a miner submits a potential block solution it is first checked against the wallet to see if it is valid, if it isn't it is declined and kicked so it doesnt show in the stats and no payments will occur for that block as it is invalid and therefore doesnt give out any coins we can pay with. If it is valid it can take a couple of minutes to show in the stats. Almost all stats on our pool auto update however you can refresh your web browser to see if it is showing . You should see it go into pending where it will then eventually change to confirmed and an automatic payment will be made to miners that helped find it if it is accepted by the network or if it is orphaned it is pushed out by the network and again no blocks are awarded and therefore no coins to payout. However all round shares are then automatically moved over to the current round so no mining work is lost and will count towards the next valid block found.
We recommend that you create new wallet receiving addresses for each of the coins you mine with us that you can then use as your mining username/s, this way you can differentiate where payments into your wallet come from and label them. You can check the Payments page as well as the Payments API for more information. Shares, paid and pending balance can be found on the Workers page by clicking your worker address or by searching for it at the top of the page. We have put links up on the Getting Started page for blockchain explorers but please feel free to use any you wish to look up blocks and transactions etc.
The Luck stats are there purely for guestimation purposes and are not 100% accurate. The algorithm essentially compares yours/the pools hashrate against the global hashrates for the coin being mined and also takes into account block confirmations and difficulty etc to give an estimated output in Days as to the likelyhood of finding blocks. If you see Infinity Days this normally means no one is mining on that coin on our pool. If Luck says 0.000 it either means there is a very high chance of finding regular blocks, so the lower the number the better chances of mining a block or more. You can check this on the home page for each coin and at the bottom or on your workers stats page when clicking or searching for your address.
An Immature balance is your share of the reward for blocks found that are awaiting confirmation before being paid. This gives you a rough estimation of what you will be paid once blocks are confirmed.
We don't like to hold your coins and want to get your mining rewards to you asap. This minimizes risk to you and ourselves and get's whats yours to you quickly! It also doesn't make us an attractive target to rob.
We are based out of the United Kingdom and are hosted on secure dedicated and cloud servers.
Finding blocks is not an easy task since it can take a really long time with some coins dependant on network hashrate versus the pool, finding a block is broken down into shares. Depending on which port your using each share can be a certain difficulty. The more difficult each share is to find by miners, the fewer total shares are required to eventually find a block. On the pool side, each share is checked against the coin daemon (a pool side wallet with more features) if it is indeed a valid block solution. Every share computed has the potential to be a block solution. Keep in mind shares are not blocks. Shares are part of a block and will count towards the block payout. At times, you will see shares being rejected by the pool. This can happen if you try to send an outdated share right after a block was found. Stratum, a protocol used by a miner to request work from the pool is used for share submissions and getting new work. It is very solid when it comes to avoiding rejects but they can still happen once in a while. If you are seeing rejects all the time, then something is not working right on your end. You may also notice that your hashrate on the pool website is not increasing while your invalid share count keeps climbing up. In that case turn off your miner, check your settings and turn back on. Also note that you can also get a lot of rejected shares if you are overclocking your mining voltage or frequency too high or the devices are too hot to function reliably.
Many miners have inquired about what VARDIFF means. VARDIFF stands for Variable Difficulty. Simply put the pool monitors the power of your mining rig and adjusts the difficulty of work sent to it to optimize the work carried out. This reduces the amount of times your miner needs to get new work from the server reducing load and reducing the time it takes to get more work. This is also good for the pool as it reduces the amount of requests being sent to the pool, this allows the pool to scale as and when needed.
The pending balance is only shown say for example if a block is found and you do not have enough shares to reach the minimum payment amount of 0.01 The Immature balance shows an estimate of blocks found awaiting confirmation. The paid balance shows everything the pool has paid to the address in question to date.
(100% Mined Block + Block Rewards - 1% Pool Reward = 99% / Miners Shares = Worker Payouts - Coin Network Transaction Free) A block is mined, 1% of the block is then kept by the pool, miners shares for that round are held against the block until it is confirmed, if block is confirmed all shares are then totalled for all miners and the remaining 99% of the block is then split based on miners shares, this is done as a sendmany payment and then the coin network transaction fee is deducted from the total going out.
We only pay miners once a block has been found and confirmed by the coin network and the miner has accumulated enough shares to hit the 0.01 automatic threshold. We do not pay miners for their time mining if a block has not been found. All shares add up so once a block is found your payout will be based on this. If under the threshold it will show as your pending balance and will require doing more mining to increase shares and in turn the balance to hit the payout amount of 0.01
Yes, it is completely normal. The mining pool monitors the work you are sending to us and if it feels you are sending work too fast or too slow it will Retarget your difficulty to best serve your miner at that time. This process is continual.
No! Every single share submitted is recorded on our system. When a block is found and the system pays out for that block, the more shares you have the more of a reward you will get.
Our site is best viewed using Firefox or Chrome, other browsers will also work fine although there are known issues with Edge and sometimes Internet Explorer. We have however made efforts to code the site to work across many browsers.
We recommend using Bitmain S9/V9/T9's for SHA256, Bitmain L3+'s for Scrypt and Bitmain D3's for X11 due to their high performance and increased power efficiency, however you can mine with USB block erupters and our pool will accept any other mining equipment you have as long as it is compatible with the algorithm of the coin being mined and has enough power to generate valid shares.
Make sure your wallet address your using to mine is correct and there are no spaces before the address (committed payments cannot be undone/reversed), also ensure that your wallet is up to date and completely synced with the network as if it is out of date/sync the inbound payment will not show up until it is fully synced.
Remember you are mining with every other miner around the world so you have to compare your hashrate against the hashpower of the pool and then the whole coin network/other big pools. A pool with a lot of hashpower compared to the rest of the pools will stand a higher chance of finding more blocks. Just remember that a pool with over 51% of the network total hashpower is not a good place to be as it destabalizes the network and allows a pool to own it unfairly. Mining is also luck based so it is always possible to find a block with lower power the chances are just slimmer and may take longer to find as opposed to using more higher power equipment.
First of all make sure that your wallet has been encrypted with a pass phrase that only you know and that the password is kept somewhere safe ideally split into different sections or purely memorised in your head, then for an additional layer of security encrypt your wallet.dat file using cryptographic compression software and finally store this file on an encrypted USB drive and then in a decent safe. Most importantly use a different password at each stage and use dice based passwords to make it harder to decrypt. Then don't keep these passwords written down in one place otherwise it will defeat the whole purpose if they are found, work passwords into paragraphs, use stenography, hide them in picture files but seperated and never whole. Or have then written down ciphered and seperated and stored in different locations. Also make sure you do every stage of encryption completely disconnected from the internet. All depends how far you want to go there are so many other ways :) Don't tell people how many coins you have or what kind as you can become a target. Ideally use a cold storage wallet to make sure it isn't connected to the internet to lessen the attack surface for someone trying to get your coins.
If you are using a full node wallet the best way to sync it up is to find the bootstrap.dat file which can be placed in the same folder as your wallet.dat file for the coin being mined. This essentially is a partial part of the blockchain of the wallet being used and saves having to download everything from scratch and will give you a head start syncing up with the network. A great place to find these are here at CryptoChainer.com Please also note that you can get mobile and leightweight wallets that don't need to sync as they work a slightly different way. If you can it's always best to try and get a cold storage wallet. A cold storage wallet is normally a device similar to a USB drive however it isnt connected to the internet so there is less chance of your coins being stolen or accessed by someone else.
The best thing to do is either invest in newer mining equipment or rent mining power from a cloud hashing provider.
Yes you can, to use worker names simply add a dot and a name directly after your wallet address you use as your username. For example Ez9W6kynbv4FqftQY537bHEXGCDs8vppdC.Worker1
Yes we are constantly reviewing all of the mainstream and altcoins that are available and will be adding new coins as we go forward.
Every time a new block is found your previous round shares for that coin are assoicated with that block until it is confirmed. In turn this resets your share total to reflect how many shares you have in the current round against the next block found. If it is made invalid or orphaned your round shares are moved over to the current round so no shares are lost.
From smallest to largest: KH - Kilohash, MH - Megahash, GH - Gigahash, TH - Terrahash, PH - Petahash, EH - Exahash
CPU and GPU mining for the majority of the coins we host isn't as efficient as a more powerful ASIC "Application Specific Intergrated Circuit" miner purely to mine one algorithm. You can still mine with your CPU or GPU you will just get less shares and may have to wait longer for them to accumulate to hit the 0.01 minimum balance for a payout.
No we only offer pooled mining for all of our coins. You get a bigger portion of the block reward if you have a larger amount of shares compared to all other miners mining the same coin in the same round. We do have solo mining in our sights for future development.
Please allow a couple of minutes after your miner has started mining to see it appear on the workers page, then try a page refresh. If it still doesn't appear check your mining address, pool address, port and make sure it is mining on our pool and not a secondary or tertiary. Also double check your wallet address you are using as your username. Passwords can be anything and are not important.
No we do not and don't ever intend to add CPU/GPU based browser mining. When seaching for CoinMinerz.com online you can find a lot of old negative reviews on the domain. Rest assured this happened when it was under different ownership before we brought the domain to use for a mining pool. Since we have had ownership of the domain we have not and will not employ that mining technique. We are also actively approaching sites to make sure they know we are now safe so we can be removed from blacklists etc. You are also welcome to conduct your own code review of our site to make sure yourself or get someone that knows how to.
CoinMinerz (Mining Pool Help & Support, Feature Requests, Coin Additions & Issue Reporting) - Mining.Support@CoinMinerz.com - Normal response within 24 hours or much less. You can also reach us and the CoinMinerz community using our Discord server.