Topic: [ANN][Pool][Profit-Switch][Optional Auto-Exchange per Coin][Vardiff] ~ Hashcows - page 136. (Read 347332 times)

Anybody else having issue(s) with BTC withdrawals on this pool?

Yep cgminer switched it after 3.5.0.  I would use 3.3.1 as that has given me the best hash rate for all of my 79xx cards and switches back right away.

Responding in more depth to Gwallet's fear of wasting effort: You're thinking of "mining" too literally. There is no concept of getting closer to a block the longer you mine. You are no more likely to find a coin in your 3600th second of mining than you were in your first second. It's like rolling dice: say we need to roll a 6 to find a block. The fact that we've rolled five or less for many minutes does not mean we are any closer to rolling a 6. We probably both agree that this statement is silly: "I haven't rolled a 6 at this table yet, so I refuse to switch tables. All of my previous rolls would be wasted!"

More technically, we are generating hashes of (a constant + a variable) over and over again until one of us finds a variable that results in "Hash( const + variable ) < Difficulty". The "const" is a roll up of all previous solutions (the blockchain). There are near infinite values we could put in "variable", a tiny fraction of which would satisfy the formula. So even though we each test thousands of hashes per second, we're not making progress really. There's so many possible inputs that the ones we've eliminated haven't gotten us measurably closer to an answer. So there's nothing preventing us from jumping coins at any time.

It's slightly more complicated in pools, where you are rewarded for every die roll, even if you fail. Surprisingly that incentives you to switch MORE frequently. (Research "pool hopping").

Source: Not a Master in mathematics, did get a useless ivy league degree in astrophysics once though.

I believe you need to use cgminer max version 3.5.0, the following releases all have a much longer wait period.

Anyone know if there's a way to change how long cgminer waits after a pool is detected as alive again before switching back? I saw it say something about stable for 5 min before it did

We are back up


Hash away!

I'm getting "waiting for work to be available from pools", from what I understand it's bug. Does anyone knows what are some of the latest versions of cgminer that don't have this bug or a way around it?

Thank you for the quick response!
great news for the second stratum server .

Yep
My miners switched to backup, pool down

I really love this site, I am going to move more miners here soon.

Stratum is currently down!

Just a quick reminder for everyone to set failovers. The good news in all of this is there's rumor that a second stratum server is in the works

ETA: 10-15 minutes

Did the pool go down?  No shares for 10 minutes..

Thanks for the explanation!

Yes. What has happened in the past has no effect on the future. If you just spent an hour mining a coin and got nothing in reward it doesn't mean "we are due a block soon, let's keep going". All the work you have done in that time is already "wasted" and nothing you do now can change the past.
If the difficulty of that coin increased and another coin it fell, so that it is now more profitable, we should switch. It is not the case that if you do n amount of work you will get a block, because chance plays a part, you sometimes have good luck and sometimes bad, that will even out over the course of time.

Is it because all events are independent?
So even if we have a probability of reaching a goal in N tries, being at N-1 does not represent anything statistically, does it?

Thanks

Guys, absolutely loving the site so far. I have some feature requests.

I think it would be really valuable if there was more transparency in regards to where fees are taken, the whole payment system seems really vague.

Also I think it would be nice to have a REST API or something. Id like to write some scripts that will alert me when my workers go down

EDIT: Just scrolled up and saw the API comments, yay

EDIT #2 : Disregard my initial comment as well, just found the user ledger.

You don't trash time spent. Each share submitted is like buying a lottery ticket, each one has exactly the same probability of winning. How many losing tickets you already bought in the past has no effect on the chances of the next one winning. Thinking it does is known as gamblers fallacy http://en.wikipedia.org/wiki/Gambler's_fallacy

I believe the cows pay out for rounds where nothing was found too, as in they just apply the shares towards the next round

Still completely wrong.

If for example it takes 60 minutes to find a block on average it would make no difference if you mine 6 periods of 10 minutes each in a day or a single period of 60 minutes. You will have still submitted the same number of shares with exactly the same chance of finding a block. Staying on a coin until you find a block when it is no longer the most profitable coin makes absolutely no sense at all.

What you wrote makes sense, but I am still not fully sure.
I do agree that time to find a block should be part of the equation.
But it seems that some times (I have no idea how often) it would be wise to move to another coin, even if that means trashing all the time currently spent on another coin.
Maybe the current coin needs to have a bonus depending on the time we've been on it?

Apart from that, my vote too for getting paid in LTC!

Call me wrong and provide no math. Really? I have a masters degree in statistics. I'm pretty sure I understand probability.

I just proved decisively why it's wrong. Are you daft? If you don't understand the math, don't spout nonsense out of your mouth.

It is more profitable to mine the most profitable coin, but you absolutely have to take into consideration how long each block takes. If you swap around mining and never mine a block because you switch before you have the chance you will make zero dollars because you never mine any coins. Yes, as your pool has a greater overall hashing rate this becomes less important as you will find blocks relatively rapidly, but for some of these coins the time per block is hours even for a pool of this size. If you are swapping between them the moment one is more profitable and not taking into consideration the time invested into a block, you are just wasting your time.

You know what, because you don't understand, let me give you an example that's easy enough for anyone to grasp.

Imagine it takes 10 years to mine a single block for every coin out there. You get no coins until you mine a block - I imagine you understand this. Trading is going to make coins more profitable then others during different times of the day. If you even switch only once per day, you will never, ever, receive any coins. Period. Because the chance of mining a 10 year long block in a single day is essentially zero. So over 10 years, if you switch every day, you will make $0. Alternatively, if you stick with one coin, even the least profitable, your profits will be greater than zero. Understand now? You need to use a formula (like the one I proposed) to take into consideration the time you spent on a block and the average time to mine a block (remember that portion about probability? there's a reason I chose average, and used standard deviations and they happen to be related directly to probability and if you had taken introductory statistics, you would know this) as well as the average time to mine a block of the more profitable coin in order to make a good decision on whether you should change coins. It's only profitable relative to time, and if you already invested a lot of time in a coin and have yielded no blocks, the additional time often has a higher profitability than the time that could be spent on another coin.