Topic: [POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com - page 33. (Read 465710 times)

I think currently WP is already too transparent. I notice most of the time WP switch to mine a more profitable coin faster than another pool that I run in parallel (switch just before the coin become most profitable, ie: like able to predict coin profitability) . If I notice, other pool operators will notice as well and will try to figure out how WP has done it.
When other pool operators figure out and imitate the profit switch algorithm and timing of when to perform coin exchange used by WP, then we will complain WP profitability is nothing special.
This is a Profit Switch Pool. If anyone has "love" for certain coin, you can always use the BTC earned here to buy/support your loved coin. This act will be similar to a few POS coins Dev that build pools to mine other coin and pay out in their own coin.

i posted this proposal back on July 2nd but no one replied: Here is link and copy of what i proposed :

https://bitcointalksearch.org/topic/m.7638816

The proposal: More transparency from all mining most profit mining pools on what the most profitable coin is and what it was worth at time of being most profitable and then what said coin exchanged for before getting distributed to the miners.

Example: (using USD in this example but really any format would work too)

PRICE/BTC=at time of being MOST profitable
EXCHANGED/BTC=price when exchanged

COIN     PRICE/BTC    EXCHANGED/BTC    AMOUNT        BTC CONVERSION
abccoin 0.00218000     0.00293901        0.00081916     0.00000028


This would be a win for all involved:

1)For any current miner of said pool, more transparency is always desired and would reduce many questions regarding earnings and most profitable from miner to pool operator.

2)For any new miner just starting out in the coin adventure or new miners to said pool.This would also reduce questions regarding earnings and most profitable but also would let new miner know that mining most profitable at that time is not always the most profitable upon earnings distribution.This is often misleading and often causes confusion and questions raised.

3)For pool operators or managers as there would be reduced questions often asked repeatably by new and current miners.And while it would require work to set up initially , in the long run it would free up time for operator or manager to maintenance or add enhancements to the pool.

4)For everyone to be able to view pool and know not only what is mined most profitable but price it was when most profitable and what price it ended up when exchanged. If any shady business going on, it will more likely to spot early on. Will also assist in what coins just pump and dump or which coins are just plain out scam coins.

The whole purpose of these coins are to have a meaningful long term history and not just popup and leave.And yes i know many love pumps and dumps and make much profit in doing so,Everyone loves making a buck or bucks, but does no long term good for the overall coin atmosphere and environment.

What does everyone think about this proposal? Would love to hear from miners,pool operators and even coin developers and who ever else would love to chime in.

Thanks.

Please post updates on my testing thread (can be found in my sig) I am copying this over to it

Have two rigs (3x7970 and 4x7950) working right now using multi-algo.. Seems I had it figured out yesterday, just needed to restart the machines for whatever reason. I've witnessed them switch 3-4 times each, very interesting. Will keep it going while I sleep before changing over any others.

Cgwatcher and CGremote is a must for me, it gives me one panel to see all my rigs, and it is used often.

Let me know when u get it all worked out, a working solution with sgminer-dev v5 is also my goal.

Interesting sidenote ... I find my 7950's do better than 280x's on groestl algo, Don't know why

Last time I tried cgwatcher and cgremote (months ago) I found my hashrates were lower than without.  Maybe API polling has this effect on the miner IDK.

Yep, I'm like the large freighter, it takes me much longer to turn the ship. I'm paying closer attention once again, it's just such a pain keeping up to date, but that said, it's missed profit if I don't. Really need to get this algorithm switching working with CGminer and SGminer 5. That is my next goal.

LOL 2 and i use -d switch in batch files to mine multi algos in same box ... I'm small time miner so I have to frequently change my priorities.  I also use "quota" in my configs for further diversification within each algo and adjust as I see fit.  many batch files to quickly switch a card to an algo

We're back at the whole dilemma.. Why would an algorithm matter to someone that uses the coin? Miners and speculators are driving this entire craze, and most coins and algorithms will not survive in the long term.

Enjoy the ride, but don't think for a second that this is sustainable. I look forward to the day that we get 2-3 coins that survive from this flooded timeframe. As a miner, it will be sad that things will be over as we know it now, but as a person that believes in the long term viability of Cryptocurrency, whether in its current form, or something better that comes along, I look forward to the many coins dying. Which is exactly why I'm in this pool, I don't speculate on long shots anymore. Sure, I'll miss some big paydays, but there is little out there that is new which is truly worth more than riding a well timed pump and dump.

I strongly believe and know each algo should and MUST have one top coin, for sha256 is defo BTC!, for scrypt its LTC and that must be put in stone, for X11 and X13 time will tell!!! each algo need time to find best coin, after that that coin should take the lead, or algo could die! (dumping alt to BTC is not preferable on long term!)

poolwaffle has mentioned a few times previously that payouts in different coins are on his todo list. So it'll happen eventually where you can get a payout in LTC rather than BTC.

It's all personal preference, but I've got my stash of LTC and I'm not looking to add anymore, it's nice to have BTC as the gold standard. If they traded in multiple coins it would make the trading platform a bit more complex I would imagine. I'd prefer they focus on other algos and potentially auto-switching with SGminer 5.0.

I understand everyone has there different opinions on that, I just personally feel that I'd rather have BTC payouts. Anytime I can be paid in the strongest currency, I'll take it. I hope LTC does skyrocket again, but we need to see a lot more movement for that to happen. I'm in hold mode only for it.

Is there any chance to add payout in LTC?  for scrypt mining...

some multi pools already have it... its matter of time LTC take to dominate and we do not need to kill LTC which would kill whole scrypt mining in process
Tnx

You could always use SGminer 5 and do auto-algo switching. I haven't gotten it working 100% with CGwatcher yet, but it's on my list.

Utah - How many rigs do you have?

I'm currently only switching between X11 and X13 on my windows machine, the other 3 run BAMT; but I have had no issues with my 7950's, 270's, or 7970.  My buddy has had the issue where one card (290) dies out on BAMT though.  I used the one from nicehash (https://www.nicehash.com/software/#sgminer), both windows and linuxi386 from 7-8-14 it's working great for me.

@chadwickx16
A thought ... using sgminer v5 rpc api switch algo based on scraping WP stats page

Many coins are sponging off WP such as KTK, if you have ideas or suggestions to improve WP please post them.
PW does listen ... his work list may be long but that's what we pay him for

Yeah, I just switched to Sgminer5 and I love it, I was against the algoswitcher here, but now I am for it.

I have sugested possible methods to PW including a voting system to influence coin switcher ...

LOL I don't sleep much just take 1-2 hr naps and monitor what's going on   I especially watch newly introduced coins to see what's going on with them.

Can I get a utahjohn algo switcher?