Worth Algo Switching with a Single Rig?

[ruinous]

I have 4x 1070 ti, and 1x 1080 ti currently. Wondering with a single rack if it's worth algo switching to most profitable coin? If so, what should I be looking for and when should I switch?

I would say I'm an intermediate miner who can easily set up a miner and mine within a few minutes if my exchange trades the coin. I would not like use NiceHash as I have noticed in the past it switch my algo from most profitable to what they have orders for or even stop mining as connectivity to their servers is volatile for me for whatever reason. Currently I've been mining just a single coin for a few months but would like drive into this more while the market is bear and I consider my next rig builds.

[1714855590]

1714855590

[edwardceng]

1070'ti and 1080'ti, enough excellent work mining in Neoscrypt coins or Ethash algorithm(I assumed, you have not tried it yet). I understand if a single Rig will having a bit profit for at this time with almost all coins price down and the coins difficulty increased

[szafa]

Lbry in supernova.

[Suslived]

Yes, yes, yes. If you are looking at daily profits and need to cash out to pay your electric bills, then by all means use a algo profit switcher. Nicehash is the simplest to use. However, if you are fine paying bills with fiat and holding coins, thats a different story. Some people mine coins they believe will experience increases in value in the future.

[Swinging Phallus]

Yes, yes, yes. If you are looking at daily profits and need to cash out to pay your electric bills, then by all means use a algo profit switcher. Nicehash is the simplest to use. However, if you are fine paying bills with fiat and holding coins, thats a different story. Some people mine coins they believe will experience increases in value in the future.

Another good algo switching protocol is miningpoolhub, which I actually prefer over Nicehash. A lot of people switched to that after the massive Nicehash hack - can't trust middle men anymore.

[jillscarbrough]

I didn't do an auto-switching use specific mining software, so I'm not sure if it worth or worthless do auto switching with a single rack. Maybe you can test Awesomeminer if you don't want to use Nicehash.

I do switching algorithm manually, and a few things must be our consideration. One of its, mining pool payment system. Some payment system will give you more profit when you are loyal miners on that pool, and the other would give you less profit when you are Pool-Hooping.

[Suslived]

Some payment system will give you more profit when you are loyal miners on that pool, and the other would give you less profit when you are Pool-Hooping.

There is a pool that gives you loyalty rewards? Care to share?

Never heard of that before that could be something. I've been mining with nanopool all my life because of their automated email notifications when my rig goes down but earning more with loyalty rewards could persuade me to switch pools.

[HashAuger]

Are you looking to exchange all the coins you mine to a single coin (like Bitcoin or Litecoin) or do you want to hold the individual coins? Algo-switching with a single rig is probably most profitable if you are looking to be paid out in a single currency instead of multiple just because your shares are going to be pretty small.  As others have noted, both the 1070ti and 1080ti are very versatile cards that do well with algorithm-switching.  My 1070/1080 cards switch across phi, hsr, hmq1725, x17, skein, lyra2z, lyra2re2 and equihash throughout the day based on prices on different pools.  Mining on a few different pools can help improve your profitability because pool's often have different prices based on their hash rates (difficulty), fees, the specific coins they mine for each algorithm and the exchanges they use to trade the new coins for your payout coin. However, with a single rig, you don't want to spread your mining output across too many pools or it will take a long time to reach each pool's minimum payout amount.

As an experienced miner, you have a lot of options as to the software that you can use to monitor pool prices and switch algorithms for your card.  There are quite a few threads about them on this board, just search for AwesomeMiner, NemosMiner/NPlusMiner or MultiPoolMiner; you might want to also take a look at the one I wrote: HashAuger.  

[edwardceng]

Yes, yes, yes. If you are looking at daily profits and need to cash out to pay your electric bills, then by all means use a algo profit switcher. Nicehash is the simplest to use. However, if you are fine paying bills with fiat and holding coins, thats a different story. Some people mine coins they believe will experience increases in value in the future.

Yes, primary a problem miners one of is electricity bills. Indeed a miner has to calculate profit earned - electricity bill. If electricity higher than a profit better mining Rig is idle. For holding a coin have a few risky, when price a coin more down, whether selling a coin to reduce loss or still hold until price a coin is rising with don't care how long time needed to rise (another story).

[HashAuger]

Another good algo switching protocol is miningpoolhub, which I actually prefer over Nicehash. A lot of people switched to that after the massive Nicehash hack - can't trust middle men anymore.

MiningPoolHub is a great pool, but you may want to avoid its auto-switch ports (the 17xxx's) if you don't have a mining farm.  Even the MPH website describes those ports a being best for ASICs, rentals and farms.  So many miners follow those ports, that the hash rate of whichever coin is selected by the pool's auto-switch algorithm can easily triple, causing difficulty to surge and your shares of each new block to plummet. As I write this, the current Equihash coin (ZCash) has a total hash rate of 90 MH/s. If you are only mining with one or even a few rigs, it is often more profitable to mine the individual coin ports.  

[jillscarbrough]

Some payment system will give you more profit when you are loyal miners on that pool, and the other would give you less profit when you are Pool-Hooping.

There is a pool that gives you loyalty rewards? Care to share?

Never heard of that before that could be something. I've been mining with nanopool all my life because of their automated email notifications when my rig goes down but earning more with loyalty rewards could persuade me to switch pools.

Yes of course, have you heard about PPLNT?
PPNLT or Pay per last n time payout system rewards loyal miners and penalizes Pool-Hoppers. Every mining pool will inform us what payment systems they are using.

[Etherion]

Lbry in supernova.

Shy what!? GPU can't beat Asic's so why would you even try to mine that with a GPU!

[Etherion]

Some payment system will give you more profit when you are loyal miners on that pool, and the other would give you less profit when you are Pool-Hooping.

There is a pool that gives you loyalty rewards? Care to share?

Never heard of that before that could be something. I've been mining with nanopool all my life because of their automated email notifications when my rig goes down but earning more with loyalty rewards could persuade me to switch pools.

Yes of course, have you heard about PPLNT?
PPNLT or Pay per last n time payout system rewards loyal miners and penalizes Pool-Hoppers. Every mining pool will inform us what payment systems they are using.

That is why you should not switch but rather mine to a pool that does the switching for you. For example miningpoolhub 17xxx port or zpool.

[Etherion]

Another good algo switching protocol is miningpoolhub, which I actually prefer over Nicehash. A lot of people switched to that after the massive Nicehash hack - can't trust middle men anymore.

MiningPoolHub is a great pool, but you may want to avoid its auto-switch ports (the 17xxx's) if you don't have a mining farm.  Even the MPH website describes those ports a being best for ASICs, rentals and farms.  So many miners follow those ports, that the hash rate of whichever coin is selected by the pool's auto-switch algorithm can easily triple, causing difficulty to surge and your shares of each new block to plummet. As I write this, the current Equihash coin (ZCash) has a total hash rate of 90 MH/s. If you are only mining with one or even a few rigs, it is often more profitable to mine the individual coin ports.  

If you mine only the coin you will mine it when the difficulty is high and low. When you use the switcher port then you share the rewards with everyone else that is also on that port. Don't use any swither of there is a small number of miners. that is pointless.

[jillscarbrough]

Some payment system will give you more profit when you are loyal miners on that pool, and the other would give you less profit when you are Pool-Hooping.

There is a pool that gives you loyalty rewards? Care to share?

Never heard of that before that could be something. I've been mining with nanopool all my life because of their automated email notifications when my rig goes down but earning more with loyalty rewards could persuade me to switch pools.

snip

That is why you should not switch but rather mine to a pool that does the switching for you. For example miningpoolhub 17xxx port or zpool.

Yes, it is.
It also depends on our mining fashion, use miningpoolhub seems easy but it doesn't guarantee profitability. I do manually algorithm switching, but I have my own calculation. When we use the same calculation with other same as mine unprofitable coins.

[HashAuger]

Another good algo switching protocol is miningpoolhub, which I actually prefer over Nicehash. A lot of people switched to that after the massive Nicehash hack - can't trust middle men anymore.

MiningPoolHub is a great pool, but you may want to avoid its auto-switch ports (the 17xxx's) if you don't have a mining farm.  Even the MPH website describes those ports a being best for ASICs, rentals and farms.  So many miners follow those ports, that the hash rate of whichever coin is selected by the pool's auto-switch algorithm can easily triple, causing difficulty to surge and your shares of each new block to plummet. As I write this, the current Equihash coin (ZCash) has a total hash rate of 90 MH/s. If you are only mining with one or even a few rigs, it is often more profitable to mine the individual coin ports.  

If you mine only the coin you will mine it when the difficulty is high and low. When you use the switcher port then you share the rewards with everyone else that is also on that port. Don't use any swither of there is a small number of miners. that is pointless.

Who said anything about only mining that one coin?  You can still switch across all the coins on the 20xxx ports, you just can't use MPH's built-in algo-switcher to do so.  If you use the 17xxx ports, you are mining coins at their highest difficulty. Yes, you are sharing the rewards, but your proportion of those rewards is going to be a lot smaller as a GPU miner than that of the mining farms and rental buyers you are mining those coins with.  

[ruinous]

Thanks for all the input.

I think the note that rings out is with one rig I might not have enough hashing power to capitalize daily on most profitable coin. As I would want to cash out into coin of choice or fiat depending when the bills come. I don't mind holding but as I see some smaller value coins jump up on whattomine, I suppose I'm intrigued more to be active in switching and learn more before going to software again.

Looking at responses we'll eliminate the software for algo switching from the table as one can use many programs of their choice. So things to consider are:

• Profit (obviously)
  How a pool scores
  Pool fee's
  Min withdrawal
  Overall hashing power

A question I still have is when to switch if you are doing this manually? What are the filters to use or sage advice as to when to swap to another coin or drop from the coin you're on. I realize that some coins will be top ten most profitable always and with my rig could use ethash as a default algo for coins (which has done well thus far during bear). I know difficulty will play into a lot of reward but how much hashing power is recommended to make switching viable in this scenario?

[edwardceng]

A question I still have is when to switch if you are doing this manually?

If me:
- When the price of the coin to be mined increases.

- When the price of BTC rises.

- When the difficulty of the coin to be mined is down.

I know difficulty will play into a lot of reward but how much hashing power is recommended to make switching viable in this scenario?

actually, more is better but I can't ensuring the exact number its, because of every miner have a suggestion each.

[EthanB]

I have 4x 1070 ti, and 1x 1080 ti currently. Wondering with a single rack if it's worth algo switching to most profitable coin? If so, what should I be looking for and when should I switch?

Since you aren't planning on using NiceHash or presumably any other automatically algorithm switching miner, then I can only suggest that you switch algorithms when you deem it absolutely necessary, think that your algorithm is currently over mined, or that you have done the research and have determined that it is definitely more profitable. I would definitely warn against constantly switching the algorithm though, because "the grass is always greener on the other side.", and it could get very frustrating, very quickly. You can enable or disable algorithms on NiceHash, so if you wanted to stick with 1 or just a couple then you have that option as well. If you are manually switching the algorithm, which seems to be the direction of your implications then I would rely on research and long-term coins/algorithms.

I've heard whattomine is pretty solid, nobody can tell you the best time to switch or what to be looking for. Are you interested in profit? Technology? Long-term, short-term? The list goes on and on, and only after you've sorted all of these questions out will you be able to make an informed and reasonable decision.

[szafa]

Lbry in supernova.

Shy what!? GPU can't beat Asic's so why would you even try to mine that with a GPU!

I dont really know there is ascic.There is no worth algo mining in gpu.