[ANN] altcoinplex.com - A new hedgemining, auto-exchanging pool

[cad_cdn]

got both my rigs pointed there for the day.

sounds, good! I'll throw some kh at it

Thank you for mining with us! :-) We hope you won't be disappointed!

jrrsparkles

[CoinBuzz]

If u can use your inteligent proxy to throw enough KH to small coin's, you can take advantage of them too while big multipool's can't. Big pools throws all of their mining power to coin, therefore they cannot mine small coins who has very big profitability.

I suggest that add more coins to your monitor system specially those coins that big multipools cant mine because of their big mining power.

and add more stats please. specially BTC/Mh/Day history.

[jrrsparkles]

If u can use your inteligent proxy to throw enough KH to small coin's, you can take advantage of them too while big multipool's can't. Big pools throws all of their mining power to coin, therefore they cannot mine small coins who has very big profitability.

I suggest that add more coins to your monitor system specially those coins that big multipools cant mine because of their big mining power.

This is the design and purpose of our system. During our initial testing and alpha testing phase, we'd realise there are a lot of delicate balancing to be dealt with, i.e.

- How many KH/s do we point to the smaller coins so that they will not be overwhelmed?
- What percentage of their network hash rate should we cap ourselves at?
- Is there sufficient liquidity in the different exchanges for us to convert to other coins?
- Will we cause a significant dip in the exchange rate with our volume?

These are questions that we are working on and fine-tuning every day, and while we do not claim to have the perfect solution, we are optimizing it consistently to provide the best possible returns for our miners.

and add more stats please. specially BTC/Mh/Day history.

WIP as we speak! We're preparing for a beta launch next week, or following, with more stats and BTC/MH/Day is on top of that list.

[CoinBuzz]

- How many KH/s do we point to the smaller coins so that they will not be overwhelmed?
- What percentage of their network hash rate should we cap ourselves at?
- Is there sufficient liquidity in the different exchanges for us to convert to other coins?
- Will we cause a significant dip in the exchange rate with our volume?

- I think system should add some megahash for 10-block-timeframe and then count the number of solved blocks and orphans and decide based on that
- That's a good one, but as long as the goal is to make profit from coins, this should not concern
- I think if system can find a working megahash for specific coin that is x% profitable, we can limit it to find N blocks per hour/day.

BTW, thanks for your work, just wanted to share my suggestions, maybe helpful.
and 1question,

Can i mine on pool now or i should wait for next opening ?

[jrrsparkles]

- I think system should add some megahash for 10-block-timeframe and then count the number of solved blocks and orphans and decide based on that
- That's a good one, but as long as the goal is to make profit from coins, this should not concern
- I think if system can find a working megahash for specific coin that is x% profitable, we can limit it to find N blocks per hour/day.

They're all valid points, but the issue with these parameters is that they are constantly changing, like a moving goalpost. What works today on this coin may not necessarily be the same tomorrow. That is why modelling it is so difficult to get right, and we need to constantly optimize the parameters.

Our belief at altcoinplex is that even as we strive to get the best returns for our miners, it is also our social responsibility to ensure that we do not cause any detrimental effects to the coins that we mine. Maximizing short-term returns by significantly increasing the network hash rate and then stopping it altogether may cause certain smaller coins to suffer irreparable damages which is something we do not want.

BTW, thanks for your work, just wanted to share my suggestions, maybe helpful.

Thanks for sharing them!

Can i mine on pool now or i should wait for next opening ?

You can mine anytime! Simply follow the instructions by altcoinplex in the first post to connect to us. We do our payouts daily at between 0000hrs to 0200hrs, +0800GMT, and you can track your estimated payout for the day at our stats page.

[PeterL]

Looks good, just added a bit under 2MH to your pool. Thanks!

[altcoinplex]

Thanks for your support peterL.

Have fun mining.

[btc_dave]

I'm very interested in this both for the profitability angle and the desire not to destroy alt-coins by aggressively dumping MH on them.

However, I do have a problem with reported work rates.

My client (cgminer) reports 1.1MH and 1,000WU but your stats page only shows me at 0.7MH.  Every other pool I've mined in (dogecoin, catcoin, ltc, tagcoin) has reported a work rate that matches cgminer.

Is this a quirk of reporting, or will I actually only be paid out on the basis of 0.7MH rather than my actual 1.1MH?

PS are you planning on adding any other alt-coins into the basket?

[jrrsparkles]

However, I do have a problem with reported work rates.

My client (cgminer) reports 1.1MH and 1,000WU but your stats page only shows me at 0.7MH.  Every other pool I've mined in (dogecoin, catcoin, ltc, tagcoin) has reported a work rate that matches cgminer.

Is this a quirk of reporting, or will I actually only be paid out on the basis of 0.7MH rather than my actual 1.1MH?

As a pool, we are not able to accurately know the exact work rate of each individual miner. The method we use, is based on the number of shares and difficulty your miner is mining at, and then guess-estimate your hashrate based on the amount of shares you have submitted. We have a slight bug with our Rejected Hashrate which we are looking into, but our payouts only take into consideration the amount of accepted shares, and their difficulty, you have submitted. I hope this clarifies your query!

PS are you planning on adding any other alt-coins into the basket?

Definately! We're constantly on the lookout for more profitable alt-coins to add to our basket. Our main criteria is that they must be available on the various exchanges.

Thanks for mining with us!

[btc_dave]

As a pool, we are not able to accurately know the exact work rate of each individual miner. The method we use, is based on the number of shares and difficulty your miner is mining at, and then guess-estimate your hashrate based on the amount of shares you have submitted. We have a slight bug with our Rejected Hashrate which we are looking into, but our payouts only take into consideration the amount of accepted shares, and their difficulty, you have submitted. I hope this clarifies your query!

Thanks for getting back to me!

I guess my query is more at a practical level.

As an example, if you were exclusively mining Dogecoin, would I be better off:

a) mining directly to a Dogecoin pool which reports my having a 1.1MH rate
or
b) mining for altcoinplex which reports my having a 0.7MH rate

IMHO, in this situation they should pay-out the same amount but I'm concerned that I would lose out using altcoinplex due to the lower reported rate.

[jrrsparkles]

Thanks for getting back to me!

You're welcome! :-)

As an example, if you were exclusively mining Dogecoin, would I be better off:

a) mining directly to a Dogecoin pool which reports my having a 1.1MH rate
or
b) mining for altcoinplex which reports my having a 0.7MH rate

IMHO, in this situation they should pay-out the same amount but I'm concerned that I would lose out using altcoinplex due to the lower reported rate.

Theoretically, if all other variables are same in both cases, i.e. amount of blocks found, number of rewards etc., the payout should be the same amount.

[btc_dave]

Excellent!

I'll leave my miner connected then and we'll see how we get on!

[jrrsparkles]

Dear miners,

Since our latest round of payout about 4 hours ago, we have noticed the poor payouts for a significant group of miners even though our back-of-the-envelope calculations indicate an average of ~0.01155 BTC/ mh payout for this round.

Further investigation resulted in the discovery of a flaw in the way our system computed the payouts which disproportionately allocated exchanged coins to certain miners even when the rounds and payouts they have mined are immature/unexchanged. This resulted in older miners with lower hashrates getting a lower percentage of the payout even when the exchanged values clearly belonged to them.

We have reworked the calculation for payouts to ensure that this bug has been fixed. Also, we have decided to pay out the difference between our new calculations and the last payout round for the affected users as this was our fault. This one-time payout should occur in the next couple of hours or so.

We are sorry that this happened.

[Slipz]

Gona try this in a bit see how it compares to wafflepool

[jrrsparkles]

The one-time payout has been sent by our system.

Once again, my apologies for the error!

[Slipz]

10 Hours of mining so far. Going well, gona test it for the next 2 days and compare with what other people are getting.

Upgrade to a more detailed stats that you're working on will really be more helpful.

http://stats.altcoinplex.com/users/bitcoin/1PSiDy8kP2yrRUCuqSXZ2orEUJ93CQcgMg.html

[blajde]

I really like the honesty of you guys and I like what your pool stands for, creds to you guys!

I am averaging 0.02btc a day for the last 2 months at 1.45Mh/s.

From what I see in the reports your system does still not beat this?

I am interested in a different multipool due to the quick changes between blocks. I don't know how it works under the hood but this is how it looks.

New block detected
new block detected
new block detected
2.1k/1048 accepted from GPU 0
new block detected
new block detected
1.1k/1048 accepted from GPU 0
85/64 accepted from GPU 1
new block detected

You get the point. I get the feeling that i spend more time not getting any hashes out before a new block is due. It doesn't bother me though since I get a great return / MH/s anyways.

Do you have any feedback on this?

best of luck!

[jrrsparkles]

Another night, another round of payouts... today's payout is ~0.0111 BTC / MH / day.

Cheers and happy mining guys!

[jrrsparkles]

I am averaging 0.02btc a day for the last 2 months at 1.45Mh/s.
From what I see in the reports your system does still not beat this?

Wow! That's a very good average! Based on a miner with ~1.45MH/s rate at our pool, our today's payout was ~0.01674.

I am interested in a different multipool due to the quick changes between blocks. I don't know how it works under the hood but this is how it looks.

<snip>

You get the point. I get the feeling that i spend more time not getting any hashes out before a new block is due. It doesn't bother me though since I get a great return / MH/s anyways.

Do you have any feedback on this?

best of luck!

I can't say much about that without more detailed information, but it appears the coin your multipool is mining tend to have very short block times, which shouldn't be an issue since everyone mining that coin will encounter the same scenario as yourself. There are a several situations that can cause this, e.g. a sudden significant increase in network hash rate for the coin, common when multipools mine obscure and smaller coins, which causes the pool overwhelming effect I mentioned earlier.

Nonetheless, it shouldn't adversely affect your mining significantly.

[MikkaMK]

Hi just pointed 5.2Mh/s at your pool. Stats page only showing 3.3Mh/s, is this normal, I have very low rejects, shouldn't it show a bit higher?