Topic: [CLOSING DOWN] ScryptGuild Auto-Switching Pool - page 57. (Read 102241 times)

Ok, waffle is mediocre, middlecoin is crap, hashco is a scam.
Today I try ScryptGuild.

There isn't one as far as I can tell.  Auto payouts happen about once an hour.

M

The pool switches to the coin that is expected to provide the greatest value, calculated (simplistically) as block reward/expected number of shares to find a block.
So if the pool switched to coin B, it means that the expected reward per share submitted is greater than coin A.
So on average it doesn't matter if it takes more or less time to find a block for coin B than coin A, that has already been factored into the equations.
Say instead we had a scenario 3: Coin 3 is expected to payout 30 BTC, but is 20 times more difficult to solve than coin A.
So the pool switches to coin C, and after 100,000 shares it finds a block for coin C. Reward per share for coin C is therefore 0.0003.
In scenario 3 you actually receive 0.0003 per share submitted for coin C, and 0 per share submitted for coin A. You submitted 1,000 shares, and get 0.3 BTC for coin C, and 0 for coin A.

Your reward per share submitted in scenario A is 0.0000666. Your reward per share submitted in scenario C is 0.0002727.

There are two variables:
a) How much is the pool going to make overall
b) How much is my share of the pool's profits going to be.

b) Is simply your accepted hashrate divided by the total pool accepted hashrate, so what matters is a), which is maximised by switching to the most profitable coin. No matter how often the pool switches coin, it doesn't (in the long term) affect b).

I see, but that is assuming we don't spend more time/shares trying to find the new coin than we did looking for previous coin, right?

No, but you are paid a lot more for the 5000 shares in the new coin.
The end result is that you get paid more, so what does it matter how?
In scenario 1 you actually receive 0.0000666 per share submitted for coin A. Lets say you are 1% of the pool, so you submitted 150 shares, and get 0.01 BTC for coin A.
In scenario 2 you actually receive 0.00022 per share submitted for coin B, and 0 per share submitted for coin A. You submitted 50 shares for coin B, and get 0.011 BTC for coin B, and you submitted 100 shares for coin A and get 0.
In total, you get more money from scenario 2.
The key thing is that everyone is treated the same. So yes, your shares for coin A were 'thrown away', but so were everyone elses, so you overall share of the payout doesn't change.

so in your scenario 2, we still get paid for the 10,000 shares left in the other coin?? not so sure it works that way, but eleuthria can clear it up....

Which doesn't matter, does it?
You can either try to find a block on the old coin or the new one. If the new one pays better, you should try the new one.
Say the pool has accumulated 10,000 shares on coin A, and not found a block.  Coin A is predicted to payout 1 BTC's worth of reward. Coin B rises in profitability, and is predicted to payout 1.1 BTCs in profitability.
Scenario 1: The pool stays on coin A, and after another 5,000 shares it finds a block. Reward per total shares of work is 1/(10000+5000) = 0.0000666 BTC
Scenario 2: The pool switches to coin B, and after 5,000 shares it finds a block. Reward per total shares of work is 1.1/(10000+5000) = 0.0000733 BTC.

The key thing is that you are not working towards finding a block. Each share has an independent chance of solving the block, and the fact that you've already put in 10000 shares of work makes absolutely no difference to the chance that the next share found will solve a block.

Hi guys,

maybe i am blind or something. But where is my manual payout button. I have set my BTC wallet but no Transactions so far. Using also the autoconvert mode now.

Hope you guys can help me.

Thx

m, you are right the miners don't really notice the change, but what ever shares where left behind in the other coin will not payout since we will no longer find a block there.....maybe eleuthria has it setup where we don't make the jump until a block is found so no shares get left behind??

The "bouncing" from one coin to another seems to be rather seemless to me.  It's just a "work restart" from the miner's perspective.  It makes sense this way... if a 500,000 doge block is suddenly available and difficulty is ideal, switch over and see if you can get it.

M

hey eleuthria.....keep up the mighty dam good work!

couple things i was curious about....

1. when mining in auto mode, I did notice the pool shift coins rather quickly.....wondering if that is a good thing or not....since we do leave shares behind that might not pay out, right? Maybe make it where once we shift to new coin guild has a certain time/ or blocks found before jumping again, so most if not all shares get paid?

2. was also wondering if maybe having so many coins to possibly mine might be more work than it's worth w/ all the bouncing back and forth? Maybe you or a thread consensus of top 5 alt-coins to mine might server better....and of course staying open to adding upcoming worthwhile coins or profitable coins to the guild.
(such as the new Aurora coin, which has a good idea behind it and so far is going up)

And of course I don't know diddly squat...just my 2cents or rather satoshis.

thanks for the hard work @el

thx!!!

Here's the order things happen:

1) Shift closes (~1 minute after the hour)
2) Shift payouts are calculated/credited (~3 minutes after the hour)
3) Automatic Conversion executes (~10 minutes after the hour)
4) Automatic Payouts run (~20 minutes after the hour).


To "exclude" a coin from being converted, simply set your reserve to a very high amount.  Then set your automatic threshold to 0.01.  With this setup, every hour your balance will be sent to your wallet, and never automatically converted.

 
if i try to exclude a coin from automatic conversion,
i can put a lower threshold for payout (at wallets) [eg. 0.1]
than the "reserve" coin (at wallets). [eg. 1.0]

Is this correct?

Does this work since that particular coin will be payed out to the wallet before it can ever reach the threshold to be automatically converted?

(will there be setting - in the future - to exclude certain coins from automatic conversion?

// thx 4 scryptguild btw!

Prior to the profit switching update, new coins could be added seamlessly, without even a blip in the mining server.  However, the last time I added a coin it did cause a brief (~half second) outage.  I do know where the bug is, but it will take a server restart to actually fix (another half second outage).  My plan is to add a half dozen more coins to the system tomorrow, and hopefully fix it so future coins will not require restarts again.




LTC will take a while because I will not be using Cryptsy for it.  I almost did, then I noticed one HUGE problem:  Cryptsy's market depth on LTC is abysmal, to the point that cashing out just a few blocks would drop the price more than 10%.  So LTC conversion will be implemented later this week with BTC-e integration instead, since BTC-e has significantly more depth to absorb the sales without too much slippage.




Not much any pool can do about cryptsy API's failing.  The new auto convert feature is fault tolerant at least, so if the API fails it simply tries again in another hour.  As terrible as Cryptsy is, it's one of the only exchanges with a decent volume for most coins.  As the pool progresses, more exchange support will be added (BTC-e for LTC for example).  The real problem is each exchange has a different API, and some of them lack the ability to actually execute orders via API, making them completely useless.

He can add coins faster than you can download the wallet for it.

Agreed, I'm curious how quickly new profitable coins will be added.

@ Dev, could you please add Auroracoin to the pool. It is currenty one of the most profitable coins to mine.

Would be nice to have that.

I like the new feature. However, I see no way to manually trade Ltc. Do we need to withdraw to cryptsy manually?

mmmm buzzzzzzz