@Terk, you have by far the best looking site out of all the auto-exchanging multipools out there, yet somehow these other pools are gaining hashrate far more rapidly than yours, which is unfortunate.
Now instead of it being the need to master some dark arts to get your hashrate up, I feel you should think about reconsidering your strategy and offer full transparency on the coins you're mining and the fees you're charging.
Your initial strategy of keeping things secret but still managing to keep miners based on the look and feel of your site clearly isn't working, people in the crypto community have been scammed in every corner they turn to and need full transparency and trust when it comes to where they point their precious miners, I feel you should respect that and if you want any chance of becoming the biggest multipool start rethinking your strategy.
Just my 2c, I hate seeing other new multipools overtake yours because I really love your site.
TL;DR change your strategy and become fully transparent otherwise all your hard work will be for nothing.
Topic: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com - page 281. (Read 554401 times)
February 14, 2014, 03:34:54 AM
February 14, 2014, 01:08:17 AM
Can't believe you were acheiving the profits you hav been without.knowing that all the 'random' block reward coins use a known seed with a predictable rnd function - if this wasn't the case, you could specify max block reward for every block and it would be accepted by the network, obviously.
I will watch over the next few days and see if this pool has gotten it figured out well enough to deserve my hashes. Profitability will have to kill wafflepool for that to be the case tho, given you are just catching on to some of the simplest tricks and still don't show any reasonable mining stats.
I will watch over the next few days and see if this pool has gotten it figured out well enough to deserve my hashes. Profitability will have to kill wafflepool for that to be the case tho, given you are just catching on to some of the simplest tricks and still don't show any reasonable mining stats.
February 14, 2014, 12:32:43 AM
Considering the messup... we're making coins back pretty fast
February 14, 2014, 12:09:31 AM
Good work Terk, bummer about the last 24 hours - but at least you've now learnt something from it and hopefully the profits earned from your new implementation will make up for the last day or so.
February 14, 2014, 12:00:35 AM
Good news Terk, after the block halving DOGE is no longer profitable to mine for now...
February 13, 2014, 08:10:45 PM
Already implemented in LottoCoin. I will test it for a while and after confirming that it works as expected, I'm going to implement it in all random-reward coins in our portfolio. Thanks a lot for the hint!
No worries, thats quick implementation, hopefully it improves profitability for you and all other users! February 13, 2014, 08:08:46 PM
But this price drop doesn't worry me , as it isnt because of a permanent issue. Soon the maleability should be fixed and Mt.Gox will be in the past.Illegal transactions isn't the best way to pump BTC price in my way.
February 13, 2014, 08:07:06 PM
After the Mt Gox and Silk Road 2 issues recently and the rapid decline in the value of BBC, Have you or anyone else got any thoughts on how we can protect ourselves from poor market performance? 120% profitability is no use if the base currency we are being rewarded in plummets..
I dont know is this is something you can hegde yourself off, we dont have financial derivatives for BTC price yet, I think the best you could do is sell your BTC to USD or some other currency each day, and maybe implement an auto-sell in some exchange if possible
February 13, 2014, 07:56:26 PM
Already implemented in LottoCoin. I will test it for a while and after confirming that it works as expected, I'm going to implement it in all random-reward coins in our portfolio. Thanks a lot for the hint!
February 13, 2014, 07:55:34 PM
After the Mt Gox and Silk Road 2 issues recently and the rapid decline in the value of BBC, Have you or anyone else got any thoughts on how we can protect ourselves from poor market performance? 120% profitability is no use if the base currency we are being rewarded in plummets..
February 13, 2014, 06:23:44 PM
From what I have read (I'm not a code guy, I just read and try and learn) yes, most of the 'average' reward coins have the block reward defined whilst its being mined, meaning that taking the average from coinwars etc is much lower profitability than going after each individually high reward block. Of course this will mean more server stress I'd presume as you have to update the profitability calculator more often depending on each block as opposed to difficulty changes and averages.
Good that you've recognised this early and are going to try and implement a fix to improve the pool and profitability!
Good that you've recognised this early and are going to try and implement a fix to improve the pool and profitability!
February 13, 2014, 06:14:07 PM
Alright, now I see everything in the code. I will modify coin sources to include next block value in blocknotify notifications, so that my core app will know the next block reward immediately.
I guess it is the same in all coins with so-called random rewards? Coinbase transaction value should be known ahead of finding a block hash, am I right?
I'm sorry I didn't know this earlier. I'm jumping to the code to make these changes and check if it works well with other random reward coins. If it does, then our profitability should improve as we have several random coins in our portfolio. Until now I've just been using statistical expected value of rewards distribution.
I guess it is the same in all coins with so-called random rewards? Coinbase transaction value should be known ahead of finding a block hash, am I right?
I'm sorry I didn't know this earlier. I'm jumping to the code to make these changes and check if it works well with other random reward coins. If it does, then our profitability should improve as we have several random coins in our portfolio. Until now I've just been using statistical expected value of rewards distribution.
February 13, 2014, 05:58:29 PM
Did a quick google and this came up too, seems recent and to have some code in it that you can look into possibly? Its about variable block reward coins.
http://www.reddit.com/r/dogemining/comments/1x1p76/something_is_rotten_in_the_state_of_doge_mining/
http://www.reddit.com/r/dogemining/comments/1x1p76/something_is_rotten_in_the_state_of_doge_mining/
February 13, 2014, 05:54:07 PM
Huh? This confuses me. The doge block sizes aren't random, they are known as they are being mined, I presumed you were only mining the high block values and not just going off the average block values.
Holy shit, had I known that, we'd be sitting on a nice stock of coins right now. I guess I fucked it up. I thought it is random, just like it's said on the website, in github readme and in the Bitcointalk thread. I'm sorry. I just couldn't feel worse right now.
Could you point me to where I can find details on how to calculate this?
I've posted about this before, here are 3 points of interest:
http://www.reddit.com/r/wafflepool/comments/1wc5si/realtime_profitability_and_hash_rates/cf21qwf?context=3
&
https://bitcointalksearch.org/topic/m.4880646
&
https://bitcointalksearch.org/topic/m.4792853
ps sorry didn't mean to make you feel bad! Can see you're putting in a lot of work to this.
February 13, 2014, 05:49:06 PM
Huh? This confuses me. The doge block sizes aren't random, they are known as they are being mined, I presumed you were only mining the high block values and not just going off the average block values.
Holy shit, had I known that, we'd be sitting on a nice stock of coins right now. I guess I fucked it up. I thought it is random, just like it's said on the website, in github readme and in the Bitcointalk thread. I'm sorry. I just couldn't feel worse right now.
Could you point me to where I can find details on how to calculate this?
February 13, 2014, 05:20:33 PM
So our DOGE affair didn't turn well as the pool has been extremely unlucky. We mined five blocks, but four of them were in the range 50-150k DOGE so were very tiny (DOGE has a random reward between 1 and 1M). That's a really bad luck. The outcome isn't good but I still believe it was worth a try as DOGE was significantly more profitable than other coins during recent days (it isn't any more). I'm really sorry that last 30 hours weren't good. It hurts me as much as it hurts you - I believe there will be a lot of people looking for a new place to point their miners once DOGE rewards halve in few hours and the pool recent stats don't look very encouraging.
The lesson learned here is to don't jump to coins that are too difficult for our hashrate because variance might be a bitch. If there ever will be a coin too difficult for us but we want to mine it anyway, I'll be proxying our mining into p2pool which will eliminate variance.
We stopped mining DOGE couple hours ago and we're back in the green. Last hours results are good and they should continue being this way.
Huh? This confuses me. The doge block sizes aren't random, they are known as they are being mined, I presumed you were only mining the high block values and not just going off the average block values. The lesson learned here is to don't jump to coins that are too difficult for our hashrate because variance might be a bitch. If there ever will be a coin too difficult for us but we want to mine it anyway, I'll be proxying our mining into p2pool which will eliminate variance.
We stopped mining DOGE couple hours ago and we're back in the green. Last hours results are good and they should continue being this way.
February 13, 2014, 04:16:44 PM
Thanks for clearing that up for me Terk.
Now I understand what you mean by the front page stats will not look inviting to new miners.
People would have to look into the hourly stats or others to see the bigger picture.
I am ready for pointing my mining rig to you now, I have been messing around with it all day trying to get the best set up, I think I must need some of those display port resistors, unless each card gets plugged in to something I just cant get them to run full bore.
I have had to dig out some old monitors from the attic to use for now, but here we go, my hash rate should jump up a bit now, and again a bit more when the riser cables arrive.
Thanks again Terk.
Axco.
Now I understand what you mean by the front page stats will not look inviting to new miners.
People would have to look into the hourly stats or others to see the bigger picture.
I am ready for pointing my mining rig to you now, I have been messing around with it all day trying to get the best set up, I think I must need some of those display port resistors, unless each card gets plugged in to something I just cant get them to run full bore.
I have had to dig out some old monitors from the attic to use for now, but here we go, my hash rate should jump up a bit now, and again a bit more when the riser cables arrive.
Thanks again Terk.
Axco.
February 13, 2014, 03:57:24 PM
Just a quick question, the stats in the top left corner of the web page do not match the hourly graph stats, do they take time to change back ?
Top stats: profitability (% LTC and BTC/day per MH/s) are 24-hour averages and they should match 24-hour numbers on stats pages (not last hour numbers). Hashrate is last hour hashrate. Number of users is number of users active within the last 24 hours.
February 13, 2014, 03:48:31 PM
Hi Terk,
As the saying goes if you don't try you will never know...!
Just a quick question, the stats in the top left corner of the web page do not match the hourly graph stats, do they take time to change back ?
I am new to mining but found your website and found it easier than most of the others to be able to start mining less config for me to do.
I have been here about a week and as you say the pool has been in the green for the vast majority of that time. I was not getting the big reject rates as some others were while you were having very little sleep setting everything up and making updates and working all hours, I am in the UK, but I was only mining with 1.4 Mh. I have just built a dedicated mining rig and still am not getting any problems so far touch wood
I have found your site very easy to use and like the ease of use, and appreciate your fast responses to peoples questions.
Never mind about the Doge as the saying goes you have to try these things out to finds out, and then learn from the experience, the latter is the important part. Onwards and upwards.
Keep up the good work.
Axco.
As the saying goes if you don't try you will never know...!
Just a quick question, the stats in the top left corner of the web page do not match the hourly graph stats, do they take time to change back ?
I am new to mining but found your website and found it easier than most of the others to be able to start mining less config for me to do.
I have been here about a week and as you say the pool has been in the green for the vast majority of that time. I was not getting the big reject rates as some others were while you were having very little sleep setting everything up and making updates and working all hours, I am in the UK, but I was only mining with 1.4 Mh. I have just built a dedicated mining rig and still am not getting any problems so far touch wood
I have found your site very easy to use and like the ease of use, and appreciate your fast responses to peoples questions.
Never mind about the Doge as the saying goes you have to try these things out to finds out, and then learn from the experience, the latter is the important part. Onwards and upwards.
Keep up the good work.
Axco.
February 13, 2014, 03:15:22 PM
So our DOGE affair didn't turn well as the pool has been extremely unlucky. We mined five blocks, but four of them were in the range 50-150k DOGE so were very tiny (DOGE has a random reward between 1 and 1M). That's a really bad luck. The outcome isn't good but I still believe it was worth a try as DOGE was significantly more profitable than other coins during recent days (it isn't any more). I'm really sorry that last 30 hours weren't good. It hurts me as much as it hurts you - I believe there will be a lot of people looking for a new place to point their miners once DOGE rewards halve in few hours and the pool recent stats don't look very encouraging.
The lesson learned here is to don't jump to coins that are too difficult for our hashrate because variance might be a bitch. If there ever will be a coin too difficult for us but we want to mine it anyway, I'll be proxying our mining into p2pool which will eliminate variance.
We stopped mining DOGE couple hours ago and we're back in the green. Last hours results are good and they should continue being this way.
The lesson learned here is to don't jump to coins that are too difficult for our hashrate because variance might be a bitch. If there ever will be a coin too difficult for us but we want to mine it anyway, I'll be proxying our mining into p2pool which will eliminate variance.
We stopped mining DOGE couple hours ago and we're back in the green. Last hours results are good and they should continue being this way.
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