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Author Topic: Awesome miner auto switch vs mining one coin  (Read 87 times)
Patuba
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February 21, 2018, 04:04:52 AM
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I started mining about 3 weeks ago. Right now I’m just mining on a GTx 1060 6 gig in my gaming pc. I would like to maximize my profits so I can reinvest in hardware. I’m curious if anyone has used the Awesome Miner auto switch and if they believe it was significantly more profitable than just mining a single coin consistently?

I know factors like the price of the currency will change the outcome, just trying to figure out the best way to maximize my profits with my limited amount of hardware.
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jillscarbrough
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February 21, 2018, 04:28:21 AM
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I’m curious if anyone has used the Awesome Miner auto switch and if they believe it was significantly more profitable than just mining a single coin consistently?
are you mean such Nicehash and a single coin such is switch manually?
Patuba
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February 21, 2018, 04:36:43 AM
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No, I didn’t explain myself well. For example, if I lookup zClassic on whattomine.com, it estimates I will make about $41 a month. When I run Awesome Miner with profit switching it estimates I will make $42 a month.

I was just curious if the profit switching in Awesome Miner really yields much higher returns?
puwaha
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February 21, 2018, 04:49:23 AM
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It's totally up to you to decide, it really depends on your own mining strategy.  Some people will say you should mine the current hottest coin, as you stand to gain the most if you can get it exchanged fast enough.  If you have a very large amount of hashrate, then this may work.  But if you think about it... it's probably not going to work.

Let's say you switch to mine a coin that has a 2 minute block time on say Zpool.  You mine your share, and you get a percentage of the reward for that block.  But now, you have to wait for say 10 confirmations to mature before it's sent to the exchange.  That's now 20 minutes you are waiting for the coin to mature before it gets sent to the exchange.  Now, let's say it's a mildly popular coin, and it's gets sent to the exchange... minimum 2 minutes of that coin's block time if Zpool has enough of that coin built up to make it worth their while to send to the exchange.  We are up to 22 minutes.  That transaction is going to take another 10 confirmations before the exchange makes it available to trade.  We are now up to 42 minutes.

What are the chances that your coin is worth the same amount when you started mining it until it reaches the point where it can be traded on the exchange 42 minutes later?  Not very likely.  There are thousands and thousands of miners that use auto-switching algorithms and were mining the same coin you thought was hot in that moment.  That shoots up the difficulty, and the massive dump on the exchange(s) sends the value of the coin down.

A 24 hour profitability evens out those nuances, and I would even argue that a longer period is necessary.  You want to be mining a coin that is consistently in the top spot... not in the moment.

But, this is my opinion... there are other perspectives.
jillscarbrough
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February 21, 2018, 05:09:08 AM
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No, I didn’t explain myself well. For example, if I lookup zClassic on whattomine.com, it estimates I will make about $41 a month. When I run Awesome Miner with profit switching it estimates I will make $42 a month.

I was just curious if the profit switching in Awesome Miner really yields much higher returns?
sorry dude,
I only have a bit experience into Awesome Miner but our RIG needs some time to have a full share to the Pool. as we know profitability would change almost everytime, it will broke my first statement about share to the Pool. will be different if we mine with full time to single coin at one mining Pool. (if my knowledge about this is wrong, you can correct me or anyone can correct me).
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