Topic: Proposal and discussion regarding most profit switching mining pools (Read 883 times)

Hmmm... well, from that perspective, I could definitely see how this data would be valuable for analysis. But, I think the main person that would actually be interest in this data would be the pool operator, for optimizing their switching systems.

I've always wanted daily "luck" statistics - basically, a combination of "expected value/sold for" and "expected number of blocks/actual blocks founds".

Basically looking to propose to all mining pool operators not just waffle pool, the ability to view 2 additional stats that would show more transparency on what is mined as "most profitable" meaning the price it was when it was "most profitable" and the price when it was sold. Ultimately it would give current miners and any new possible miners the additional transparency of not only showing what the "most profitable " coin is being mined and its current price and what it actually was exchanged for to be paid out to all miners.Keep in mind the 2nd number basically is already being used in the formula to pay miners. This would just make it more tranparent and to show that just because a coin is "most profitable" at any given time, it doesnt matter if it is +298% of LTC profitability if said coin does not also exchange for the exact same price and exact same LTC Price as the miner is only getting paid at the exchange price which often times is not the same as when it was most profitable due to timing issues with coins being immature and the time it takes to sell and exchange the coins.


I just want to make it more transparent to new or current miners that while most pools now can multi mine and can mine the most "most profitable" doesnt mean you get paid that "most profitable" price unless it is instant sold as it was mined. I know some miners and have seen others in this forum that think they are getting paid by that "most profitable" stat and that is not exactly true.

Think about this: While i love Waffle pool to have algorithm switching and alternate payouts, my proposal actually works in very nicely with those. If a  pool is always mining the "most profitable" but not maybe exchanging said coins for the same or higher, it could very well be losing quite a bit of earnings and could ultimately be forced to close down.And no one is in business to lose earnings or to be forced to shut down.

You'd probably get some more responses if you re-write some of your original post...  The first sentence is ridiculously hard to read, for example, because it lacks any punctuation.


Is that what you meant?

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I would much rather the development efforts for multi-pools like WafflePool go towards algorithm switching and alternative payouts currencies.  This kind of statistic gathering just seems superfluous.

No one has any positive or negative input on this?

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.