Topic: [ANN][MULTI][VARDIFF] TradeMyBit MULTIALGO Profit Swap w/ Optional Auto-exchange - page 78. (Read 153092 times)

    Well ?

switching to middlecoin until you fix the profitability calculation. WDC is not 60% more profitable than doge right now. its only 10%

Auto Exchange is now live!

There is a 2% fee (deducted from the payout-side of the process) for using the auto-exchange process, but is completely optional.

To use the auto-exchange you must populate a BTC and LTC address in the Account Settings section, and then go to the 'Edit Payout Settings' and toggle Auto-Exchange to "on" for the coins of your choice (or all, if you so wish). An easier method to turn them all on with a single click is coming, along with an option to default new coins to Auto-Exchange.

Once enabled, the next time the process runs it will pull your coin balances (even coins you've had in there for awhile) into the exchange process, batch them together with other miner's coins, and deposit them for exchange. This process is not immune to Cryptsy delays -- but there is a new menu option on the left hand side that will allow you to track all of your coins from the time it enters the auto-exchange system.. Better ability to filter/drill-down into this data is in the works

Payouts occur once a day, typically in the evening Eastern US time.. a minimum of 0.01BTC and 0.1LTC is required to receive a payout. If you did not reach this minimum, the balance is rolled over to the next day.

There is presently not an option to chose LTC or BTC, as payouts will be made in both, depending on what the coin trades to. The Auto-Exchange system uses a 'best dollar value' at the time of the trade to determine if it will be LTC or BTC, if the choice exists.

Thanks!

Crazy. Just mine the most profitable and don't worry about luck or 'block-time'. What you do now throws away workers' money.

I'm sure if you'd check now you have loads more european users !

(like me)

A very minor webpage suggestion:

I often go to the Dashboard page and sort the coin grid by "score".  Can this clickable column heading for "score" default to do descending sort on the first click?  It seems odd to click that and get the lowest scores first.  Or even better, have this grid always sorted by score descending, since this is the one spot on the site you can see the scores.  Anyhow, very minor suggestion...keep up the great work, I'm mining here exclusively now!

I switched back to TMB upon hearing the news of auto payout system. Hope it will be good!

That's what I was looking for! Thanks for the fast response!

Looking forward to trying this out when it launches.

I don't want to give too much away as (I'm probably being over-paranoid here) I don't want buyers gaming the system so to speak (pulling their buys until exchange completes to buy at a lower price, etc).. but the auto-exchange system pools users coins together and trades them throughout the day. Payouts to miners will occur once a day, as long as their balance is above the ltc/btc tx fee by a decent margin (this % hasn't been completely ironed out yet, will know tonight when i prepare the first payout).

I do plan on involving other exchanges, but that highly depends on our volume vs exchange volume -- and their transaction fees on withdraws.


There is a 0.5% mining fee on TMB, and the auto-exchange (which is 100% optional on a per-coin basis) adds a 2% fee on the payout side of the process.

Also would love to know the auto-exchange details, especially the fees involved.

Yes sir, that indeed clears things up a lot!

Will definitely point my mining gear towards Trademybit when auto exchange goes live!

Cheers,

Could you shed a little more light on the auto-exchange? Most notably:

1) How frequently will the auto-exchanging occur? Once a day, once every 30 minutes - hour, or will coins be exchanged as they mature and sent to the exchange?

2) Will this just be done with Cryptsy, or will other exchanges be considered for the auto-exchange?

We do account for stales.. more-so our 'block-time' finding blocks vs what is expected at the difficulty. With our lower hashrate compared to middlepool, our profitability will likely always be different on a coin by coin basis, and especially comparing two coins to each other.

EG, doge may be 3% more profitable than MEC overall in a short window, but with fast swaps and our lower hashrate the likelyhood of finding a block to make it pay off is too low to risk changing from a coin that might at that time be 3% less profitable. The switching algo takes this into account, and also calculates our previous luck finding blocks along with stale ratios for the coin

Hope that clears things up a bit

As a small announcement, we started beta testing the Auto-Exchange last night.. so far so good with the tests, and we've had around 15 members using it for 10hrs so far. After we run our first payout, and ensure everything is working as expected, I'll make it live

Thanks!

I`ve found something quite interesting:

At the same time I checked the relative profitability of Megacoin and Dogecoin on both Multipool, coinwarz and Trademybit.
Multipool gave this:   DOGE 28.92    MEC 27.97         -3.3%
Trademybit gave:    DOGE 83.9     MEC 105.6           + 21%
Coinwarz gave:   DOGE 3455    MEC 2741                 + 26%

I know that Coinwarz does not adjust for stales, multipool stated that they do.
Could we conclude from this that trademybit does not adjust for stales?

Stale adjustments can be easily build in btw!
Its all available as JSON data if i`m correct

Cheers, Tim

P.S.

I fancy trademybit above both middlecoin and multipool, though profits do not seem to be better yet.
If we can make it more profitable I will surely join with a decent amount of Mh/s

How does the autopayout work? Do we just have to put in the BTC or LTC address in the settings?

+1 for eu server

+1 for eu server

+1 for eu server

I have to add that the coin switching on middlecoin occurs without a disconnect to the server which is great that is also something to consider implementing.

I tried this pool with my 8MH/s, and I too noticed the profits weren't really there when I tried to auto-exchange each coin. This is partially due to the length of time it took for some coins to make it onto Cryptsy, some of which took close to 12-24 hours to actually reach, by which point the good exchange rate was long gone. I'm sure part of it was also my settings, as I haven't fine-tuned them completely just yet. Mind you, this pool is still profitable compared to straight Litecoin mining, but some of these coins (ELC, NET are the biggest culprits) are simply too much of a hassle to be used with Cryptsy and cut into the profit a little bit.

I have also found that the pool doesn't seem to update very quickly to changing exchange rates/profitability. Though I will say that, unlike other profit-switching pools, when it does update it actually does pick the most profitable coin on the list. However, it seems to take just a tad too long to switch once that coin is no longer the most profitable. That's something I definitely feel can be improved, and I'm sure it will be. It doesn't need to switch every 30 seconds, but maybe a couple minutes sooner.

Finally, if the plan is to stick with about 1 GH/s, then that allows this pool to continue mining some of the smaller coins, which should lead to increased profitability compared to other pools. Middlecoin now has to spend most of its time mining DOGE, with some Litecoin thrown in, and occasionally a more popular coin with a high net hash (42 being the most recent example).

All in all, this pool has tons of promise. I am anxiously awaiting the auto-exchange for BTC/LTC, and will be redirecting my farm from Middlecoin back to here when that gets implemented.

Keep up the good work!

EDIT: And though I am not located in Europe, I definitely think having an extra server would really help, especially if there ends up being a problem with one server. People can simply failover to the other one so they aren't forced back to a different pool outside of TradeMyBit.