Mining Digitalcoin and Worldcoin is less profitable than it seems

[Frizz23]

I was mining Digitalcoin and Worldcoin for a while and was always wondering why I didn't get the payout I calculated. I always got (considerably) less.

Thanks to coinchoose.com now I know why. It's because of the high stale rate of these coins.

For example Worldcoin has "% Profitability of BTC" : 109.92%
But "Profitability % Adj for Stales" is only 73.90%

Same for Digitalcoin: "% Profitability of BTC" : 107.52%
But "Profitability % Adj for Stales" is only 81.04%

All those fast coins have this high stale problem (e.g. Fastcoin has profitability 97.21%, but adjusted for stales it's only 57.18% !).

So it's actually much more profitable to mine other coins.

[DeadEyeCool]

It's actually not as bad as coinchoose says it is.

Mining WDC, you get about 75-95% of what the calculators say, depending on hashrate.

Coinchoose has it at like 67%.

[Oldminer]

http://worldcoinforum.org/topic/41-testing-everyone-recieves-x-of-estimated-rewards/

[Frizz23]

http://worldcoinforum.org/topic/41-testing-everyone-recieves-x-of-estimated-rewards/

The WDC community has concluded that it is common for you to receive 60% of what your pools "reward calculator" is displaying.

So if coinchoose is showing 180% profitability to BTC, it is in fact 60% of the 180%, which is 108% actual profitability to BTC.

This is common for all coins with a faster block time. This information will be added to the WDC forum, under a stickied FAQ thread within a day or so.

That is all.

Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.

[GSnak]

Let them. Keeps hash off LTC, NVC, BTC, etc.

[nearmiss]

Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.

Not everyone is in it to just dump the coins as fast as they can earn them at market value.  Perhaps some people are mining to hold longer term hoping prices go up....

Of course, if the only thing your basing your mining on is coinchoose, then I guess the above statement doesn't apply to you.

[Frizz23]

Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.

Not everyone is in it to just dump the coins as fast as they can earn them at market value.  Perhaps some people are mining to hold longer term hoping prices go up....

Of course, if the only thing your basing your mining on is coinchoose, then I guess the above statement doesn't apply to you.

There is no such thing as altruism in the real world. We all act economical (unless we are retards).

Even if I believe in Digitalcoin (long term), but BTC is more profitable at the moment, I mine BTC - and buy Digitalcoin. Gives me more Digitalcoin in the end - plus I support the Digitalcoin market (increase bid side)...

[nearmiss]

Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.

Not everyone is in it to just dump the coins as fast as they can earn them at market value.  Perhaps some people are mining to hold longer term hoping prices go up....

Of course, if the only thing your basing your mining on is coinchoose, then I guess the above statement doesn't apply to you.

There is no such thing as altruism in the real world. We all act economical (unless we are retards).

Even if I believe in Digitalcoin (long term), but BTC is more profitable at the moment, I mine BTC - and buy Digitalcoin. Gives me more Digitalcoin in the end - plus I support the Digitalcoin market (increase bid side)...

I more meant, if you aren't selling coins 24/7, and are instead mining for the purposes of building stock, what difference do daily/weekly fluctuations in profitability have to you.  So what if DGC is 110% profitable for 3 days, I've got no intention of selling any in the next 3 days, so its not going to affect my mining one way or another

[markm]

Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.

Maybe once the merged mined coins get updated to newer code GeistGeld won't be such a memory hog and more people will use it for applications requiring a fast coin. although it is also possible that all the fast coins will become just as much memory hogs eventually, they might simply not have been running long enough yet to really notice the constant accumulation of unspent outputs (which are all kept in RAM).

On the other hand bitcoin must have lots of unspent outputs too so it remains likely that a code update will fix both GeistGeld and I0Coin memory usage.

-MarkM-

[JohnSy]

So lite coin is the way to go then??

[sal002]

It's actually not as bad as coinchoose says it is.

Mining WDC, you get about 75-95% of what the calculators say, depending on hashrate.

Coinchoose has it at like 67%.

You are probably right, which is why I give the two numbers (plus an average).  I'd rather estimate low than high.

[JohnSy]

I was mining Digitalcoin and Worldcoin for a while and was always wondering why I didn't get the payout I calculated. I always got (considerably) less.

Thanks to coinchoose.com now I know why. It's because of the high stale rate of these coins.

For example Worldcoin has "% Profitability of BTC" : 109.92%
But "Profitability % Adj for Stales" is only 73.90%

Same for Digitalcoin: "% Profitability of BTC" : 107.52%
But "Profitability % Adj for Stales" is only 81.04%

All those fast coins have this high stale problem (e.g. Fastcoin has profitability 97.21%, but adjusted for stales it's only 57.18% !).

So it's actually much more profitable to mine other coins.

i don't really trust coinchoose

[sal002]

i don't really trust coinchoose

Understood, but can you tell me why?  Is it lack of transparency (the formulas to derive everything are all math pretty easily derived and the stale rate calc is based on this post - https://bitcointalk.org/index.php?topic=152515.msg2396008#msg2396008)?  Or is it something else?

[billionaire]

Coinchoose docks DGC profitability 33% when accounting for stales, but I get between 6% - 10% stales in reality. If you are interested in mining a coin, you can't just go by what coinchoose says regarding stale rates. You should mine it yourself for a while because who knows where coinchoose is getting their data from. Its not like the site's creator has spent days mining each coin and tallied the stale results.

[fenican]

My P2Pool is averaging about 4.3% DOA/Stale to the Digital Coin network.  The worse it ever gets is around 10% DOA/Stale

Where is coin choose coming up with 25% ?

[sal002]

Just posted the link to which the stale rate is derived - so very clear as to where my site is getting this calc rate.  I am refining this calc as we speak, but would rather reflect lower profitability than higher.  Some of the coins have fixed the stale rate issue over the past few weeks, but others have not.

[nearmiss]

no offense to coinchoose, the site is great, but I just wish people would stop using it as the be all end all of what to mine.  Take 10 minutes to check out a coin and decide for yourself.  Coinchoose is just math, it can never be perfect, and I'm sure he's err'ing on the side of caution in most situations, or else it'd be an even bigger backlash.  Use it as one piece of info to go along with other stuff like how the launch went, who is behind the coin, is the dev still around, whats the community like.

A coin showing 150% profit today could be 50% profit 2-3 days from now (when you've finally mined enough of it to earn something useful).  Its not a one-stop answer!  Maybe you use it to help identify new coins to check into, but if its as deep as you look to find coins to mine, well, you get what you deserve for your effort level.

[sal002]

no offense to coinchoose, the site is great, but I just wish people would stop using it as the be all end all of what to mine.  Take 10 minutes to check out a coin and decide for yourself.  Coinchoose is just math, it can never be perfect, and I'm sure he's err'ing on the side of caution in most situations, or else it'd be an even bigger backlash.  Use it as one piece of info to go along with other stuff like how the launch went, who is behind the coin, is the dev still around, whats the community like.

A coin showing 150% profit today could be 50% profit 2-3 days from now (when you've finally mined enough of it to earn something useful).  Its not a one-stop answer!  Maybe you use it to help identify new coins to check into, but if its as deep as you look to find coins to mine, well, you get what you deserve for your effort level.

No offense taken and you are right on the mark. 

[baritus]

It seems to me that this can be easily solved if pool owners would make their stale ratios easily accessible.