Bitcoin Forum

Alternate cryptocurrencies => Mining (Altcoins) => Topic started by: siforek on January 12, 2018, 06:20:58 PM



Title: Mining business apps & tracking worker shares
Post by: siforek on January 12, 2018, 06:20:58 PM
1st, I've been using a combination of APIs(cryptocompare, MPH, etc) to track mining revenue & so far I'm able to track how much coin mined, the price when it was mined & thus pay income tax only on what's mined vs gains on the rest. I'm curious what/if any others are using to manage their businesses? Suggestions?

2nd, I have investors that so far are buying entire rigs & each rig has it's own wallet. As I scale it's becoming quite a bit of work managing everything. Ideally I'd just have all the workers mine to 1 wallet/account & then split the coin later based on each worker's shares which I could previously track with flypool's API but am not able to now that I'm using Mining Pool Hub(no worker share stats). I could setup a MPH account for each worker but again that's a lot to manage. I'm considering writing a simple script that tails the EWBF console & just counts the accepted shares & devfee shares(would be nice to see just how much that ends up being) but still am not sure this is the best/most accurate/reliable way.

I'm also hesitant to use hashrate to do anything more than estimate earning. I know that hashrate is ultimately determined by # of shares but counting shares would be a perfect way to split things. Any ideas/suggestions?

Thanks!