[ANN][MULTI][VARDIFF] TradeMyBit MULTIALGO Profit Swap w/ Optional Auto-exchange

[merc82]

Why not just try it yourself? 

alright I'll give it 24 hours to see how profitability stacks up to multipool.  2.1Mh/s sent your way guys.

May I ask how much were you netting at multipool ?

I was getting around 0.035 or so BTC/day, or at current rates, around 22-25 USD/day.   So far with trademybit, I've been getting around 0.04 BTC or 28-33$/ day, so it seems slightly more profitable.   

I have noticed one thing though, it seems there are problems with the pool connection maybe going down.  Twice in the last 24 hours (to the best of my knowledge) my miner has gone offline from the pool.  The first time, it sat for 4 hours before I noticed with a dropped connection, the 2nd time I set a fail-over to flip to multipool (using CGWatcher) to fail over if trademybit went down again.  It did 3 minutes ago.   Are you guys aware of any pool down times?

Other than the 2-3 dissconnects, trademybit seems to be more profitable so far, and the lower fee is a welcome addition.

We've been troubleshooting a few issues on the server side that has caused some stratum issues over the last 48hrs, mostly un-noticable, but there have been a few serious disconnects. We have hopefully resolved these issues and should be stable now.

I'm glad you've found us profitable, we have had a lot of issues with Cryptsy (most of our miners are using them to auto-sell) crediting deposits for coins we have been hitting recently (ELC, MEM, DGC) and it's causing a backlog on these markets that our profit-switch algo did not foresee -- in retrospect we should have pulled some of these coins during that time -- and as such has caused overall 24h profitability to be lower than we would normally expect. We're learning, and adjusting to compensate for items like this moving forward.. while it may never be -perfect-, we hope to be profitable

[ixobelle]

finally able to reply to threads, chiming in to say this is a good group of peeps. The IRC channel can be viewed directly on the site (kiwi or something), although I use mIRC. Everyone seems interested in helping each other out, or you can just set it, forget it, and let your rig go, knowing Merc is on top of getting you the best bang for your hashes.

 

[yorich]

Why not just try it yourself? 

alright I'll give it 24 hours to see how profitability stacks up to multipool.  2.1Mh/s sent your way guys.

May I ask how much were you netting at multipool ?

I was getting around 0.035 or so BTC/day, or at current rates, around 22-25 USD/day.   So far with trademybit, I've been getting around 0.04 BTC or 28-33$/ day, so it seems slightly more profitable.   

I have noticed one thing though, it seems there are problems with the pool connection maybe going down.  Twice in the last 24 hours (to the best of my knowledge) my miner has gone offline from the pool.  The first time, it sat for 4 hours before I noticed with a dropped connection, the 2nd time I set a fail-over to flip to multipool (using CGWatcher) to fail over if trademybit went down again.  It did 3 minutes ago.   Are you guys aware of any pool down times?

Other than the 2-3 dissconnects, trademybit seems to be more profitable so far, and the lower fee is a welcome addition.

We've been troubleshooting a few issues on the server side that has caused some stratum issues over the last 48hrs, mostly un-noticable, but there have been a few serious disconnects. We have hopefully resolved these issues and should be stable now.

I'm glad you've found us profitable, we have had a lot of issues with Cryptsy (most of our miners are using them to auto-sell) crediting deposits for coins we have been hitting recently (ELC, MEM, DGC) and it's causing a backlog on these markets that our profit-switch algo did not foresee -- in retrospect we should have pulled some of these coins during that time -- and as such has caused overall 24h profitability to be lower than we would normally expect. We're learning, and adjusting to compensate for items like this moving forward.. while it may never be -perfect-, we hope to be profitable

Well,  if you need any sort of performance testing data, I am kinda anal when it comes to investing anything, and as I've pretty much paid for my first rig with profits so far, I am dumping another 3800$ into a second, 6 card GPU rig shortly that I will point here.   I watch the pool profit calculations almost  hourly, so if you need things like a heads up if #'s drop suddenly or something let me know

[brucevilanch]

I'm really liking this pool so far. My payouts have been good and the guys in the IRC are very helpful.

[Jr.Jerk]

add more coins!

[bravedog]

It looks like my ALF and NET deposits are not posting on Cryptsy.  The other coins seem to be posting fine.
I have asked Cryptsy to look at this, but just letting you know in case it is something on your end.
I just generated a new ALF wallet and I'll see if that makes a different for some reason.

I have only been mining this pool for about 16 hours @ 6Mh/s, but profits seem to be very good so far.  I am mining simultaneously with Middlecoin, and I would say that both sites have been comparable from a profit standpoint.  It has only been 16 hours, but TradeMyBit seems to have a slight edge.

Thanks.

[artiface]

MEM coins don't seem to be getting deposited to Cryptsy either...

I can't check their status because the MEM coin block explorer also seems down.  

[xIronCrossx]

Just to confirm, we have to sell all the coins ourselves from the switching pool correct?

[jigz]

Nice pool.  I have moved over from multipool to give it a shot.

xIronCrossx: Yes, you have to exchange them yourself unless of course you setup auto-sell on Cryptsy or a similar method on another exchange.

[merc82]

It looks like my ALF and NET deposits are not posting on Cryptsy.  The other coins seem to be posting fine.
I have asked Cryptsy to look at this, but just letting you know in case it is something on your end.
I just generated a new ALF wallet and I'll see if that makes a different for some reason.

I have only been mining this pool for about 16 hours @ 6Mh/s, but profits seem to be very good so far.  I am mining simultaneously with Middlecoin, and I would say that both sites have been comparable from a profit standpoint.  It has only been 16 hours, but TradeMyBit seems to have a slight edge.

Thanks.

MEM coins don't seem to be getting deposited to Cryptsy either...

I can't check their status because the MEM coin block explorer also seems down. 

Cryptsy is having a lot of issues with a lot of coins at the moment.. ALF, MEM, NET, FRK and ELC that I'm aware of. I've double checked on our side to make sure the transactions are submitted and have confirmations, and they all do. I will continue to pester Cryptsy support as I have over the last few days on various coins.. I wish there was more we could do on our side, but unfortunately this rests with Cryptsy

Thanks!

[bravedog]

It looks like my ALF and NET deposits are not posting on Cryptsy.  The other coins seem to be posting fine.
I have asked Cryptsy to look at this, but just letting you know in case it is something on your end.
I just generated a new ALF wallet and I'll see if that makes a different for some reason.

I have only been mining this pool for about 16 hours @ 6Mh/s, but profits seem to be very good so far.  I am mining simultaneously with Middlecoin, and I would say that both sites have been comparable from a profit standpoint.  It has only been 16 hours, but TradeMyBit seems to have a slight edge.

Thanks.

MEM coins don't seem to be getting deposited to Cryptsy either...

I can't check their status because the MEM coin block explorer also seems down. 

Cryptsy is having a lot of issues with a lot of coins at the moment.. ALF, MEM, NET, FRK and ELC that I'm aware of. I've double checked on our side to make sure the transactions are submitted and have confirmations, and they all do. I will continue to pester Cryptsy support as I have over the last few days on various coins.. I wish there was more we could do on our side, but unfortunately this rests with Cryptsy

Thanks!

Thanks for the update.  I know that Cryptsy may not post coins if the wallet client is out of date, so it was worth asking, just in case.

[yorich]

I don't know if this has already been covered, but if it hasn't.  Why are you using Crapsy? It's one of the slowest, buggy exchanges out there.  Vircurex is must faster at trading than cryptsy is.  is there any possibility of using a different exchange?

[artiface]

I don't know if this has already been covered, but if it hasn't.  Why are you using Crapsy? It's one of the slowest, buggy exchanges out there.  Vircurex is must faster at trading than cryptsy is.  is there any possibility of using a different exchange?

You can have your coins deposited wherever you want.


I choose cryptsy (for some of the coins, others to my own wallets) because it is the exchange that actually has all the alts mined on this pool.  Then I only have to deal with one exchange.  Yes cryptsy has issues sometimes, but they are usually good about getting them fixed eventually.

[merc82]

I don't know if this has already been covered, but if it hasn't.  Why are you using Crapsy? It's one of the slowest, buggy exchanges out there.  Vircurex is must faster at trading than cryptsy is.  is there any possibility of using a different exchange?

Everyone is free to use any exchange they want, but most of our miners presently use cryptsy for the auto-sell capability that comes with it, but I definitely like Vircurex and Coins-e

[MatthewDPX]

Suggestion: Maybe you should consider splitting the pool into mining 3 or 4 different coins simultaneously so that you're not suddenly pointing 350 MHash/sec to a coin with a low total pool volume, that way when miners go to sell, it won't crash the price on Cryptsy.

[KiwiSi]

Just wanted to add my thanks for the new TradeMyBit multipool - really impressed so far.  Has a professional feel to it.

All the best with it and keep up the good work! 

[bravedog]

I have to say that this was one of the most fun days I have had mining so far.
Keeping track of coins, optimizing auto payouts, picking which coins to send to which exchange, etc. was a LOT of work.  However, I really enjoyed it and payout has been excellent for my first day.  Keep up the good work!

[KiwiSi]

Do you have any recommendations or tips on the exchanges you ended up using?  I've been sending everything to Cryptsy so far though will also do some research to see if there are some better options for particular coins. It seems to be something of a minefield when it comes to dealing with exchanges.  I recently had a bad experience with CoinEX, though luckily it all worked out in the end after much chasing.

Also, out of curiosity - what approach is everyone else taking to when to trade the coins mined here on TradeMyBit.  Are you sending them out regularly (eg: every 1 or so coins) for sale at the market rate or are you waiting to stockpile a few and then waiting for the best time to trade?

[ollebolls]

Great pool. Putting another 2400 khs your way.

By the way, had any time looking into IFC?

[bravedog]

Do you have any recommendations or tips on the exchanges you ended up using?  I've been sending everything to Cryptsy so far though will also do some research to see if there are some better options for particular coins. It seems to be something of a minefield when it comes to dealing with exchanges.  I recently had a bad experience with CoinEX, though luckily it all worked out in the end after much chasing.

Also, out of curiosity - what approach is everyone else taking to when to trade the coins mined here on TradeMyBit.  Are you sending them out regularly (eg: every 1 or so coins) for sale at the market rate or are you waiting to stockpile a few and then waiting for the best time to trade?

Coin selection was the biggest factor, but exchange rates and Cryptsy's handling of coins was also a factor.  It took Cryptsy about 20 hours to post my ALF and NET deposits.  Cryptsy is extremely buggy, expensive, and I really hate it, but I like the auto-trading and selection.
In the end, I went with Coins-E for ALF (ALP),  NET, ELP, and ELC.  Cryptsy for everything else.
As for payout, I looked at total withdrawal fees.  My rule was that I didn't want withdrawal fees to exceed 0.1% of the total withdrawal in most cases. I made some exceptions (like DMD).  Also, I set a secondary rule that I need at least .005 BTC in value for each coin before I withdraw the coins.  For some coins, I set this minimum to about .015.  My thought is that you can always manually payout at the end of the day if you want, so it's okay to set the minimums to higher than you think they need to be.  Below are my minimums, but these will definitely change over time.  After all, I have only been mining here for a day.  Some of them, I have never mined, so I don't know how they will "react".  Also, I generally mine at 6-7MH/s so you may want lower or higher payouts than these depending on how fast you mine the coins.

ALF = 100
CRC =35
DMD=1
ELC=10
ELP-200
EMD=50
FRK=2
GLX=30
HBN=5
JKC=100
LOT=10000
MEM=600
NET=500
NRB=30

At the end of the day, I check statistics and see if there are any coins that I should manually cash out.

Merc said he wanted to set minimums, but since everyone has different hashing rates, I personally think that the requirement could be number of withdrawals per day.  Most of my coins will have only 1 withdrawal per day (or less), but if we mined the exact same coin all day, that coin could have up to 5 or 6 withdrawals at most.