[POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com - page 74.

jedimstr

hero member

Activity: 798

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Quote from: ericlfg on May 27, 2014, 10:41:01 AM

Quote from: haploid23 on May 27, 2014, 04:53:00 AM

Does anyone on this pool still mine with GPUs? I'm assuming all the GPU miners already dumped their GPUs, or switched to another algo.

+1

Long time lurker first time poster -- I am also interested in seeing what other GPU miners are doing..

If the other GPU miners didn't shutdown, or keep them running with cheap/free electricity, they could be doing what I'm doing... renting them out. While most of the multipools like Waffle and Clever have been hovering around 0.003 or lower BTC per MH/day, renting on BetaRigs or LeaseRig can yield anywhere from 0.0035 to 0.005 BTC per MH/day. Who knows what the renters are actually mining that make the premium worth it, but it's better than the rates we've been seeing lately on the straight scrypt pools and somewhat competitive with the X11/Scrypt-N rates.

ericlfg

newbie

Activity: 7

Merit: 0

Quote from: haploid23 on May 27, 2014, 04:53:00 AM

Does anyone on this pool still mine with GPUs? I'm assuming all the GPU miners already dumped their GPUs, or switched to another algo.

+1

Long time lurker first time poster -- I am also interested in seeing what other GPU miners are doing..

jemmyboy

newbie

Activity: 27

Merit: 0

Quote from: haploid23 on May 27, 2014, 04:53:00 AM

Does anyone on this pool still mine with GPUs? I'm assuming all the GPU miners already dumped their GPUs, or switched to another algo.

Moved all my GPU miners over to hirocoin, mining their multipool using X11
http://hiropool.org/hiro/index.php?page=home

haploid23

legendary

Activity: 812

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Does anyone on this pool still mine with GPUs? I'm assuming all the GPU miners already dumped their GPUs, or switched to another algo.

gaalx

sr. member

Activity: 411

Merit: 250

Quote from: poolwaffle on May 26, 2014, 07:31:41 PM

All of this said, I've been pounding away at getting the new algorithms in place, today has been a day of backend script upgrades, and hopefully will have some exciting news later in the week

And what you tasty offer us? Don't weary!

gaalx

sr. member

Activity: 411

Merit: 250

Quote from: phzi on May 26, 2014, 08:23:21 PM

But anyway, it really seems like scrypt mining is reaching an equilibrium where Litecoin is the main coin worth mining. Good news for litecoin at least =).

Litecoin for the score ASIC turns into the principal coin, but it is far not so. Now a large number of GPU of installations in search and waiting (I think that total power of GPU of an order 200 of Gkh in an interpretation script) as soon as one of algorithms will show the advantage, this power will start flowing there and it isn't known that will be with ASIC Litecoin.
What at it global advantages? This coin was now popularized by a large number of miners that after leaving of GPU it won't be absolutely clear especially as old to ASIC are already sold and it is possible to develop the following generation.

phzi

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Activity: 700

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Quote from: poolwaffle on May 26, 2014, 08:05:14 PM

Quote from: jjj0923 on May 26, 2014, 07:53:36 PM

not exactly - rabbit does do some profit switching

I'm not an advocate for them - just seeking the best return and would switch in a NYC minute if I thought you guys would provide me a better yield and I'm doubling my hash rates this week too.

I'm not terribly familiar with them, but from what I can tell from just a cursory glance (please point out if I'm wrong), they do profit switching, but they keep the profits. They're profit-switching to mine the best coin, but paying miners with straight LTC PPS (as if you were mining LTC directly).

My guess is this is how they're able to run a PPS pool with 2% fees. I don't have the link here, but if memory serves me correctly, a straight PPS pool has a good chance (>50%) of going bankrupt if fees are less than 4-5%.
Edit: Found the link, http://arxiv.org/pdf/1112.4980.pdf, see Appendix C, "Safety Nets for PPS Pools". Was written for Bitcoin, but the math applies for LTC/others.

That's right, LTCRabbit only pays out for 'profit switching' when they make extra profits. Right now, I don't believe they aren't profit switching at on all scrypt (since Apr 5th, I believe), or very rarely. But I haven't mined there in ages, so I couldn't say I've been watching the coins.

Although it seems to have changed sometime in the last few months, I am pretty sure LTCRabbit used to manage a 2% fee because they weren't "real" PPS. They set their PPS rate based on their block discovery rate for the last x number of blocks (I believe it was 50, but my memory is foggy). It seems now tho, they are calculating $PPSvalue = 50/(65536 * $ltc_network_difficulty).

But anyway, it really seems like scrypt mining is reaching an equilibrium where Litecoin is the main coin worth mining. Good news for litecoin at least =).

jjj0923

sr. member

Activity: 266

Merit: 250

Quote from: poolwaffle on May 26, 2014, 08:05:14 PM

Quote from: jjj0923 on May 26, 2014, 07:53:36 PM

not exactly - rabbit does do some profit switching

I'm not an advocate for them - just seeking the best return and would switch in a NYC minute if I thought you guys would provide me a better yield and I'm doubling my hash rates this week too.

I'm not terribly familiar with them, but from what I can tell from just a cursory glance (please point out if I'm wrong), they do profit switching, but they keep the profits. They're profit-switching to mine the best coin, but paying miners with straight LTC PPS (as if you were mining LTC directly).

My guess is this is how they're able to run a PPS pool with 2% fees. I don't have the link here, but if memory serves me correctly, a straight PPS pool has a good chance (>50%) of going bankrupt if fees are less than 4-5%.
Edit: Found the link, http://arxiv.org/pdf/1112.4980.pdf, see Appendix C, "Safety Nets for PPS Pools". Was written for Bitcoin, but the math applies for LTC/others.

well - they've been around for quite a bit of time and what's really nice is that they offer this: https://www.ltcrabbit.com/index.php?page=os which made it a snap for me to start with them before I started switching to asics.

thanks for the info - I'll be keeping an eye on your pool although I'm not a fan of once per days payout and do like to often arb my coins instead of going right to btc, but thanks much!

poolwaffle

sr. member

Activity: 322

Merit: 254

Quote from: jjj0923 on May 26, 2014, 07:53:36 PM

not exactly - rabbit does do some profit switching

I'm not an advocate for them - just seeking the best return and would switch in a NYC minute if I thought you guys would provide me a better yield and I'm doubling my hash rates this week too.

I'm not terribly familiar with them, but from what I can tell from just a cursory glance (please point out if I'm wrong), they do profit switching, but they keep the profits. They're profit-switching to mine the best coin, but paying miners with straight LTC PPS (as if you were mining LTC directly).

My guess is this is how they're able to run a PPS pool with 2% fees. I don't have the link here, but if memory serves me correctly, a straight PPS pool has a good chance (>50%) of going bankrupt if fees are less than 4-5%.
Edit: Found the link, http://arxiv.org/pdf/1112.4980.pdf, see Appendix C, "Safety Nets for PPS Pools". Was written for Bitcoin, but the math applies for LTC/others.

jjj0923

sr. member

Activity: 266

Merit: 250

Quote from: poolwaffle on May 26, 2014, 07:51:52 PM

Quote from: jjj0923 on May 26, 2014, 07:36:13 PM

r
it's hard for me to want to bring my hash anywhere other than ltcrabbit when I'm consistently making about .00265/mh day in and day out.

I've got over 100mh and little differences add up over the course of a week or a month.

I wish there were a historical simulator that would allow me to plug in hash rate a date in the past and have the simulator plug in ltc price, btc price and difficulty to see what the difference would be in terms of actual yield.

Absolutely understand, each person does what they think is best, I'm certainly not going to tell you you're wrong

You're just trading the variance that a profit-switching pool offers. Instead of some days at 110%, and some days at 90%, you're getting every day at 98% (2% fee on LTCRabbit), you'll get this with any PPS pool

not exactly - rabbit does do some profit switching

I'm not an advocate for them - just seeking the best return and would switch in a NYC minute if I thought you guys would provide me a better yield and I'm doubling my hash rates this week too.

and you guys guys do charge 2% also

poolwaffle

sr. member

Activity: 322

Merit: 254

Quote from: jjj0923 on May 26, 2014, 07:36:13 PM

it's hard for me to want to bring my hash anywhere other than ltcrabbit when I'm consistently making about .00265/mh day in and day out.

I've got over 100mh and little differences add up over the course of a week or a month.

I wish there were a historical simulator that would allow me to plug in hash rate a date in the past and have the simulator plug in ltc price, btc price and difficulty to see what the difference would be in terms of actual yield.

Absolutely understand, each person does what they think is best, I'm certainly not going to tell you you're wrong

You're just trading the variance that a profit-switching pool offers. Instead of some days at 110%, and some days at 90%, you're getting every day at 98% (2% fee on LTCRabbit), you'll get this with any PPS pool

jjj0923

sr. member

Activity: 266

Merit: 250

it's hard for me to want to bring my hash anywhere other than ltcrabbit when I'm consistently making about .00265/mh day in and day out.

I've got over 100mh and little differences add up over the course of a week or a month.

I wish there were a historical simulator that would allow me to plug in hash rate a date in the past and have the simulator plug in ltc price, btc price and difficulty to see what the difference would be in terms of actual yield.

poolwaffle

sr. member

Activity: 322

Merit: 254

Quote from: phzi on May 26, 2014, 07:22:05 PM

Quote from: jjj0923 on May 26, 2014, 07:14:16 PM

why the dramatic slide in revenue per mh over the past 5 days?

- Bitcoin increasing in price
- Litecoin and other scrypt coins falling against bitcoin
- Significant amounts of new hashing power entering the scrypt market (ASICs from innosilicon and zeus)

Scrypt is basically dead for GPU miners; other algorithms are more profitable. Scrypt has come of age, and it's time for it to get dominated by ASIC equipment and have Litecoin take it's proper place as king of scrypt Wink

.

As part of this as well, very few coins are more profitable than straight Litecoin (on a decent scale at least), and if they are, its by an extremely small amount (1-2%, for a few seconds at a time).

For example, check out the graphs for the two most mined coins (check the 1W or 1M graphs for the best view):
Litecoin: https://www.cryptsy.com/markets/view/3
Dogecoin: https://www.cryptsy.com/markets/view/132

Some of the last couple days has just been luck (we should on average be above 100% LTC), but a week+ ago when the market was more fluid we were averaging 105% (+- 5% luck), and now at 101-102% (+-5% luck), we'll see more days <100%.

One thing to note, is this is benched against perfect efficiency on LTC at 0% fees, something you're not going to ever get (just mining LTC straight, you'd see 90% to 110% days extremely frequently).

All of this said, I've been pounding away at getting the new algorithms in place, today has been a day of backend script upgrades, and hopefully will have some exciting news later in the week

phzi

hero member

Activity: 700

Merit: 500

Quote from: jjj0923 on May 26, 2014, 07:24:26 PM

well with the exception of bitcoin's price rising no seminal event has occurred in the last 5 days

But along with bitcoin's rise in price, most scrypt coins have slipped against bitcoin.

jjj0923

sr. member

Activity: 266

Merit: 250

Quote from: phzi on May 26, 2014, 07:22:05 PM

Quote from: jjj0923 on May 26, 2014, 07:14:16 PM

why the dramatic slide in revenue per mh over the past 5 days?

- Bitcoin increasing in price
- Litecoin and other scrypt coins falling against bitcoin
- Significant amounts of new hashing power entering the scrypt market (ASICs from innosilicon and zeus)

Scrypt is basically dead for GPU miners; other algorithms are more profitable. Scrypt has come of age, and it's time for it to get dominated by ASIC equipment and have Litecoin take it's proper place as king of scrypt Wink

.

well with the exception of bitcoin's price rising no seminal event has occurred in the last 5 days

phzi

hero member

Activity: 700

Merit: 500

Quote from: jjj0923 on May 26, 2014, 07:14:16 PM

why the dramatic slide in revenue per mh over the past 5 days?

- Litecoin and other scrypt coins falling against bitcoin
- Significant amounts of new hashing power entering the scrypt market (ASICs from innosilicon and zeus) - although this is going to have the biggest impact over the NEXT few days after difficulty jumps.

So, the same amount of LTC buys you less BTC then it did a week ago, and you earn less LTC per MH then you did a week ago.

Scrypt is basically dead for GPU miners; other algorithms are more profitable.
The algorithm has come of age, and it's time for it to get dominated by ASIC equipment and for Litecoin take it's proper place as king of scrypt Wink

.

jjj0923

sr. member

Activity: 266

Merit: 250

why the dramatic slide in revenue per mh over the past 5 days?

poolwaffle

sr. member

Activity: 322

Merit: 254

Quote from: jedimstr on May 26, 2014, 05:55:39 PM

Unconverted as it states are approximate. The values of coins change and aren't locked in until the coins mined are exchanged for BTC, and can remain unconverted for awhile since some coins need to mature before they're allowed to be traded. In the meantime, the markets dictate the price and the unconverted can both increase or decrease depending on current buys/sells on that market.

This is correct, with a very small tweak of "all coins need to mature before they're allowed to be traded". Some coins take longer than others (maturation time is built into each coin).

jedimstr

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Quote from: sman007 on May 26, 2014, 05:51:51 PM

Quote from: jedimstr on May 26, 2014, 04:57:12 PM

Quote from: sman007 on May 26, 2014, 04:29:30 PM

why in the "Stats" my account earned Bitcoin gradually decreases at the beginning of a little add to the total score, then taken away somewhere?

Are you using google translate? I don't think your question came out quite right.

Bitcoins earned (not yet sent): 0.00169447
Bitcoins unconverted (approximate): 0.00057152
Bitcoins expected (earned + unconverted): 0.00226599

a few minutes later

Bitcoins earned (not yet sent): 0.00169447 - unchanged
Bitcoins unconverted (approximate): 0.00057080 - decreases
Bitcoins expected (earned + unconverted): 0.00226345 - decreases

then again

Bitcoins earned (not yet sent): 0.00169447 - unchanged
Bitcoins unconverted (approximate): 0.00056973 - decreases
Bitcoins expected (earned + unconverted): 0.00226456 - decreases

and so always. Why?

Unconverted as it states are approximate. The values of coins change and aren't locked in until the coins mined are exchanged for BTC, and can remain unconverted for awhile since some coins need to mature before they're allowed to be traded. In the meantime, the markets dictate the price and the unconverted can both increase or decrease depending on current buys/sells on that market.

sman007

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Quote from: jedimstr on May 26, 2014, 04:57:12 PM

Quote from: sman007 on May 26, 2014, 04:29:30 PM

why in the "Stats" my account earned Bitcoin gradually decreases at the beginning of a little add to the total score, then taken away somewhere?

Are you using google translate? I don't think your question came out quite right.

Bitcoins earned (not yet sent): 0.00169447
Bitcoins unconverted (approximate): 0.00057152
Bitcoins expected (earned + unconverted): 0.00226599

a few minutes later

Bitcoins earned (not yet sent): 0.00169447 - unchanged
Bitcoins unconverted (approximate): 0.00057080 - decreases
Bitcoins expected (earned + unconverted): 0.00226345 - decreases

then again

Bitcoins earned (not yet sent): 0.00169447 - unchanged
Bitcoins unconverted (approximate): 0.00056973 - decreases
Bitcoins expected (earned + unconverted): 0.00226456 - decreases

and so always. Why?

Topic: [POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com - page 74. (Read 465674 times)