Show Posts
I've just pointed another couple of mh at you anyway, good feedback so far.
I was wondering if you had any input on the way you calculate profitability of certain coins, such as dogecoin. On your profitability index it is assumed the block reward is 500000.00 which is the same as dustcoin etc list, however I have read that this is the average block reward, and that each block reward is actually independent, and that the block reward is known BEFORE it is mined. Therefore by knowing if the current block reward is over 500000.00 you know it is more important to mine as more profitable, where as if the current block were only 100000.00 (5x lower) you would know it is 5x less profitable.
Another mulitmining pool on the up, wafflepool has written about this a fair few times, this being in one of his posts:
"This is the way most pools do it, and you're absolutely right that statistical averages work out to 500k/block (using doge for the rest of this example). However, the block reward for the block you're _actively_ mining for is known when you're mining it. It is based on the last known block hash.
For example (and its a really ELI5 style example - the actual code is much more complex). But say the next block reward is worth whatever the last digit of the previous block hash was (assume 0-15 for last digit values). Statistically you'd earn 8 coins for the next block, however, if we know for a fact that the last block hash ended in "F" (15), we know that the next block reward is definitively going to be worth 15 coins. Which makes for a _much_ different profitability calculation for if the next block is worth mining. Since the function for generating block rewards is known (in the client), and all the inputs are known (previous block hash, etc), we can use the _actual_ block reward, rather than the statistical average in our calculations. Long term, this should give us better performance in earnings. "
Thanks.
I was wondering if you had any input on the way you calculate profitability of certain coins, such as dogecoin. On your profitability index it is assumed the block reward is 500000.00 which is the same as dustcoin etc list, however I have read that this is the average block reward, and that each block reward is actually independent, and that the block reward is known BEFORE it is mined. Therefore by knowing if the current block reward is over 500000.00 you know it is more important to mine as more profitable, where as if the current block were only 100000.00 (5x lower) you would know it is 5x less profitable.
Another mulitmining pool on the up, wafflepool has written about this a fair few times, this being in one of his posts:
"This is the way most pools do it, and you're absolutely right that statistical averages work out to 500k/block (using doge for the rest of this example). However, the block reward for the block you're _actively_ mining for is known when you're mining it. It is based on the last known block hash.
For example (and its a really ELI5 style example - the actual code is much more complex). But say the next block reward is worth whatever the last digit of the previous block hash was (assume 0-15 for last digit values). Statistically you'd earn 8 coins for the next block, however, if we know for a fact that the last block hash ended in "F" (15), we know that the next block reward is definitively going to be worth 15 coins. Which makes for a _much_ different profitability calculation for if the next block is worth mining. Since the function for generating block rewards is known (in the client), and all the inputs are known (previous block hash, etc), we can use the _actual_ block reward, rather than the statistical average in our calculations. Long term, this should give us better performance in earnings. "
Thanks.
Right so we don't calculate this internally and this is certainly something we wouldn't display on the public API for free. Since we've never had the ability to mine something like DOGE it's never really mattered to us because the DIFF is just too high. But that is definitely something to look into for lottocoin.
