Author

Topic: A new kind of pool >> POLL (Read 157 times)

newbie
Activity: 38
Merit: 0
December 12, 2017, 06:12:23 PM
#1
I've got a crazy plan. A plan so crazy it just might work.

Miners have multiple strategies today:
* Algo-switching and Multi Algo-switching pools (e.g. Mining Pool Hub) are great but you take on market risk between the time you mine, confirm, transfer to an exchange, and sell your mined coins
* Auto-exchange features can reduce market risk but not completely, and even so, exchanging coins still takes time
* Hash rental pools (e.g. NiceHash) can expose you to above market returns, paid for in BTC without the above risks, but only when there's a willing buyer
* Pool-wide optimisers (e.g. ProHashing) can improve even further on the above by factoring diminishing returns into the calculation, but don't work well with rented hashes because their profitability frequently ends up being equal to the rental market equilibrium
* Diversification is an issue because each of the above features tends to be associated with a particular site, which consequently ends up with a natural monopoly... and then they get hacked because they're a nice big target

What if you could sign up to a single pool that offers all these strategies and intelligently switches between them?  Want to sell hashpower but only so long as it's more profitable than pool mining?  Want to rent hashpower but only so long as it's profitable at all? Want pool-wide optimisation but fallback to the next best option when the pool is oversubscribed?  Want to manage all this under one roof? No problem.

My proposed implementation plan would be to start with the standard pool features and then add the rental market on top of that, followed by additional features by popular demand.

Let me know what you think by joining the poll!  Did I miss something - a strategy you'd like to see?  Or do you think this is never going to work?  Discuss!

(My background:  I've been a professional developer consultant in the finance space for over 10 years.  I'm a C# guy by trade, but I'll use whatever gets the job done and makes us money as fast as possible!)
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