Hi guys, I've been mining for about a week on pool.miningspeed and am getting about half of what whattomine shows I should be getting. I know whattomine isn't super accurate, but is half normal, or is another pool better?
I have also been mining on miningspeed's pool for several weeks and as far as I can tell, everything is fine there. The problem is not the pool, but the wild fluctuations in difficulty we have seen this past week. In the past three days, I have seen difficulty from 46K to 180K to times when it is over 300K. As difficulty increases, it does so for all pools, regardless of where the new miners apply their hashing power.
Earlier this evening, someone -- probably using Nicehash -- was pumping 552 KSol/s of mining power into the pool. To put this in perspective, the hashing power of the entire network at the time was 12,000 KSol/s. When this kind of hashing power comes and goes, it can send difficulty all over the board, making it hard to calculate what your returns should be.
The good news is that this attention means that people are talking about BitcoinZ, which is what we -- the community -- all want. The same attention that attracts Nicehash mining contracts will help boost the chance of this still-quite-new coin getting on more exchanges and gaining even more liquidity. This will attract traders as well as miners. That in turn will likely increase the value of each coin, which is what everyone who mines and holds this coin is hoping for.
And speaking of value, I have noticed that as the difficulty mining BitcoinZ increases and the number of coins I mine decreases, the loss of coins is offset by an increase in the coin’s value. So you may be mining less, but your daily profit in in fiat currency may well remain the same or close to it.