Topic: [CLOSING DOWN] ScryptGuild Auto-Switching Pool - page 25. (Read 102241 times)

I always found the PPS useful on guild back in the day   Wasnt cheap though and its typical that gov would interfere with a reasonable service.

Im not sure if low profits on switching coins is permanent.  I guess asic will have an influence but there is many protocols.   I can understand simplicity and clarity is easiest on both issues though

There have been no changes to US tax law, there has simply been an official interpretation of existing laws.  The currently published interpretations don't address virtual currency conversion.  But the problem is if they later interpret another law as being applicable to virtual currencies, it's retroactive since there was no CHANGE in the law.  The bright side is generally penalties can be fought in a retroactive applications.

This is the primary reason BTC Guild removed PPS & orphaned block payments.  Those two activities were grey areas, since the pool was providing miners with payments that weren't reflective of what the miners (in aggregate) were producing.  In those cases, you can say the pool paid miners, whereas for normal mining, the pool is not paying miners, simply providing the service of allocating/distributing their aggregate production.

Ah, this has something to do with the recent changes to US tax law?

I may add other scrypt coins if some appear that have: A) Been around for a while   B) Have a strong community effect   and C) Are worth mining.

So far the only two coins that fit that for scrypt are LTC and DOGE (and DOGE only because I feel the community around it won't disappear).




It may get added in after the integration, but at this time it's not on the road map.  It's a very grey area, and I've recently been debating removing it from ScryptGuild.  Since I've made the decision to merge the pools together, getting rid of the autoconvert seems to be the best move during that integration.

I do hope you change your mind about removing the autoconvert feature. I understand not wanting to waste your time on new pumpndumpers, but I think an ltc -> btc and btc -> ltc autoconvert feature would be useful in keeping some of your Scryptguild miners. I for one don't wish to sully my own laptop by visiting Cryptsy myself, and would rather you undertake this annoying and distasteful job for me

Edit: Plus if some people want to autoconvert some of their btc to ltc or doge, you might not need to use an external exchange much at all.

That is good to know.
I am glad you evaluated it so closely.
Are you going to just stick to those two or will a couple more be added in the future if they are viable coins and not crap coins?
Great work by the way.
 

After going over the options and looking at the effective profitability, I've finally come to a conclusion on the future of ScryptGuild.  As it currently exists, ScryptGuild will still be around for likely 1-2 more months.  Over that time period, I'm going to be working on BTC Guild and adding in Scrypt mining directly to BTC Guild instead of running them as two separate sites.

However, this eventual merger will NOT be a multicoin switching pool like ScryptGuild.  The sheer number of crappy coins out there, with hardforks every other week for one of them, and extremely slim (if any) profit margins over just straight LTC/DOGE mining is not worth it, and it's only getting worse as time goes on.


Once merged, BTC Guild's scrypt mining platform will only include DOGE and LTC.  Profit switching will be available between the two, but there will not be an auto-convert feature.  The one benefit to merging it directly into BTC Guild is significantly more awareness of the existence of a BTC Guild based scrypt pool.  I would expect the total scrypt hash rate to probably end up higher on BTC Guild than ScryptGuild has achieved, making LTC more reasonable to mine.

ScryptGuild was a project I put off for over a year, and unfortunately by the time I acted on it (mostly for a personal pet project), the profitability in multicoin switching was already sliding down drastically.  At this point it is not worth the time it would require to keep up with every shitcoin that launches/becomes profitable.  There are much better options for where to focus my efforts than a dying niche.



With all that said, I will say again:  ScryptGuild itself will still be around for at least 1-2 more months, with all features continuing to function normally.  Once I have the interface rigged up for BTC Guild to support the altcoins I will post additional news about the timeframe for ScryptGuild's closing.

For comparison (from poolpicker) highest BTC/MH/day among Middlecoin, CleverMining, WafflePool, HashCows, Coinshift, WeMineALL, CoinFu, and Multipool:

4/7/2014
Best: CoinFu 0.00455, Worst: Middlecoin 0.00265

4/8/2014
Best: HashCows: 0.0061, Middlecoin 0.00307

4/9/2014
Best: Middlecoin 0.00595, Worst: CoinFu 0.00337

4/10/2014
Best: HashCows 0.00529, Worst: Multipool: 0.00306

4/11/2014
Best: CoinFu 0.0058, Worst: Middlecoin 0.00355

4/12/2014
Best: Coinshift 0.0045, Worst: Middlecoin 0.00166

It is interesting to note that HashCows has been riding at just below 2000MH/s pool average for those days, while ScryptGuild is usually just above 3000MH/s.  Also, HashCows still uses the old one coin at a time technique, but still manages to beat ScryptGuild?

To my knowledge Coinshift and WeMineALL do the same/similar "distributed" hashrate thing done here.  I've opted not to autotrade my coins here, rather to auto-cashout to Cryptsy and autosell at 2nd highest sell bid.  Some coins swing higher than the immediate trade value within 24 hours, some take days, others sit there for a very, very long time.  But when the the values go up the payoff is bigger.  That's just the nature of the exchange market. Some people want a quick payout.  I'm willing to wait longer if it means a better payout.

Thanks for fast replies!
I hope it will help me!

Could try with sgminer 4.1.0? It has better/working multi-threads support and might give you a few more 10's of kH/s

If using it to mine with GPUs/Scrypt ASICs and need the --scrypt command line option for use on a pool like this, yes.

So i should use a cgminer with version of 3.7.2 or less?

I don't think cgminer past version 3.7.2 supports scrypt.

Can anyone help me?

I running cgminer 4.2.2 but it's only finding work and draw 0.00MH/s speed...

I'm looking forward to your answers!

Thanks

How about LEAF?  That appears to have disappeared as well.  Or more specifically I should have approx 10k LEAF but it wasn't withdrawn, don't see exchange, etc.

Hello,

My latest stats in BTC/MH/day, first is oldest:

0.00492
0.00490
0.00512
0.00406
0.00446

just tried it.. works great.. I so did not know that...  thanks.

Sigg

Hi guys, looking for a new scrypt pool. What is the profitability on ScryptGuild ?

If you highlight a small portion of the chart, you get a magnified view of that section.

I have a request on the worker charts page... 

It seems to be getting kind of "cluttered" for lack of a better word.  Would it be possible to limit the graph to the last 2 weeks? (or possibly 30 days)

thanks,
Sigg