Topic: [POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com - page 110. (Read 465769 times)

I disagree.  I would bet that overall, this will result in increased profits.  Ultimately, the profits here are driven by PoolWaffle's persistence and hard work.

I wouldn't buy them at 200 EUR. But do your own math with your assumptions, risk tolerance, opportunity cost etc.

So... Its not worth it for the price they are asking (200€) right?

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

You obviously have a serious mental disorder and I hope your seeking treatment for it.. 

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

As suggested a raise to 1.5% for fee would be accepted more readily than 2% which might be a make or break decision for some miners.  Changing to weekly payouts sounds like an interesting idea suggested by ? (I am still waking up and a bit foggy atm LOL).

If change to weekly payouts gets accepted, let an automated trading bot play with my unpaid earnings between payouts.  Looking at haasbot there are "insurance" options that help with determining if a trade should be made or not.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

I'm afraid that the Gridseed "round stuff" (330-360 KH/s) is not going to be profitable if purchased at > $150, and even below $150 it's a risk since it can only do 1 thing - mine Scrypt. Of course it's all speculation, nobody can predict how difficulties, exchange rates, ASIC development, and everything else will evolve.

750 Ti is a fine piece of hardware, but it does use ~5 times the power of the Gridseed (not quite 70W, I think it's closer to 50W) and produces less hashrate, so it will become unprofitable much sooner. However it can do other things, such as Scrypt-N. Or play games. It will always have more value than a Gridseed. And there is no doubt that NVIDIA will come out with something more powerful based on Maxwell, which could make a difference.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

So not worth it?
750Ti do that too for 70w right?

I see here insane prices on Ebay.co for that round stuff (5 chips 7 watts?).

Best Regards,

LPC

The only Scrypt ASIC available now is Gridseed, and these cost $150-200 for 330 KH/s, not $70, and are not USB "sticks". There is a USB stick for ~$70 but it can do only ~60 KH/s.

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

I've got no issue with this. I think you've been quite open and transparent since the pool opened. 2% is excellent. Thanks for your work!

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Well for one, it is annoying as dog shit watching you bitch on EVERY post. I am not defending CS or anything I am just saying to stop commenting uselessness. I am sure you are making a "killing" over $1 a day........I am a pimp, let me dust my shoulders off. Who says that...lol I help people when I can in these forums...i didn't know I was locked to one threads. Thanks, come again. As for you gtaah, keep laughing


Can I see your twice as much as well? lolol

EDIT: and what a surprise it is JHammer and gtaah bitcheing about stuff. Shocker.