[POOL][Scrypt][Scrypt-N][X11] Profit switching pool - wafflepool.com

[LPCobris]

I have been thinking...

One solution to my power problem, is to change slowly my machines for some usb asic crap...

If they cost $70 per stick for 330khash, 10 will do $700 (cost of a system) and do 3.3 mhash.
Ofc they are not that fast, but for me is a deal breaker.... 70W of power consuption and no heat or noise...

I might change all my rigs alltogheter...

They could really help on these hard times of low profitability... because they remove the killer element of the equation... (the power bill!).

What do you guy´s think?

And btw where can i get those gridseed usb sticks?

Best Regards,

LPC

The only Scrypt ASIC available now is Gridseed, and these cost $150-200 for 330 KH/s, not $70, and are not USB "sticks". There is a USB stick for ~$70 but it can do only ~60 KH/s.

So not worth it?
750Ti do that too for 70w right?

I see here insane prices on Ebay.co for that round stuff (5 chips 7 watts?).

Best Regards,

LPC

[unlock.mk]

2% fee i just fine.
Today i experienced 3% rejected jobs, which was not the case in the past.

So effectiveness is 95% ?

[WTParker2]

PoolWaffle, why not end the "Sunday push" method? Instead, implement a "6 day no-hash push". If a worker is hashing for any given time but doesn't connect to mine after 6 days, it's earnings are pushed to the worker.
That way you are not losing transaction fees for miners who are still hashing on Sunday and still will be on Monday. The push should be for a worker not active on WP for 6 days straight.
This way you can raise the fees to 1.5% for a few weeks along with the 6 day delay (or however long you feel is a good time frame) and see if it measures out to the 2% you originally planned. Plus, you just might gain a few more workers who want the stability of a well-run pool with the added benefit of low fees.

[suchmoon]

So not worth it?
750Ti do that too for 70w right?

I see here insane prices on Ebay.co for that round stuff (5 chips 7 watts?).

Best Regards,

LPC

I'm afraid that the Gridseed "round stuff" (330-360 KH/s) is not going to be profitable if purchased at > $150, and even below $150 it's a risk since it can only do 1 thing - mine Scrypt. Of course it's all speculation, nobody can predict how difficulties, exchange rates, ASIC development, and everything else will evolve.

750 Ti is a fine piece of hardware, but it does use ~5 times the power of the Gridseed (not quite 70W, I think it's closer to 50W) and produces less hashrate, so it will become unprofitable much sooner. However it can do other things, such as Scrypt-N. Or play games. It will always have more value than a Gridseed. And there is no doubt that NVIDIA will come out with something more powerful based on Maxwell, which could make a difference.

[comeonalready]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

[LPCobris]

So not worth it?
750Ti do that too for 70w right?

I see here insane prices on Ebay.co for that round stuff (5 chips 7 watts?).

Best Regards,

LPC

I'm afraid that the Gridseed "round stuff" (330-360 KH/s) is not going to be profitable if purchased at > $150, and even below $150 it's a risk since it can only do 1 thing - mine Scrypt. Of course it's all speculation, nobody can predict how difficulties, exchange rates, ASIC development, and everything else will evolve.

750 Ti is a fine piece of hardware, but it does use ~5 times the power of the Gridseed (not quite 70W, I think it's closer to 50W) and produces less hashrate, so it will become unprofitable much sooner. However it can do other things, such as Scrypt-N. Or play games. It will always have more value than a Gridseed. And there is no doubt that NVIDIA will come out with something more powerful based on Maxwell, which could make a difference.

So... Its not worth it for the price they are asking (200€) right?

Btw, i spy pic of the China GridSeed Farm! this is just one part of it...



LPC

[utahjohn]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

As suggested a raise to 1.5% for fee would be accepted more readily than 2% which might be a make or break decision for some miners.  Changing to weekly payouts sounds like an interesting idea suggested by ? (I am still waking up and a bit foggy atm LOL).

If change to weekly payouts gets accepted, let an automated trading bot play with my unpaid earnings between payouts.  Looking at haasbot there are "insurance" options that help with determining if a trade should be made or not.

[LPCobris]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

As suggested a raise to 1.5% for fee would be accepted more readily than 2% which might be a make or break decision for some miners.  Changing to weekly payouts sounds like an interesting idea suggested by ? (I am still waking up and a bit foggy atm LOL).

If change to weekly payouts gets accepted, let an automated trading bot play with my unpaid earnings between payouts.  Looking at haasbot there are "insurance" options that help with determining if a trade should be made or not.

Hi!
Im up to 1.5% and 2 days payout... not 5 days payout...

Regards,

LPC

[suchmoon]

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

Seriously, if you could do what you did with 1% I'm sure the extra percent will result in more profits for miners. Thank you for your honesty.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

So you're gonna teach me math now. All I was saying is that poolwaffle did a great job with a Walmart salary and I expressed confidence that he will do even better with two.

[sgk]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

PW, I admire the way you operate the pool and the way you communicate with everyone here. I have been with you in past and will continue with your pool even with raised fees. No issues there!

[phzi]

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

I believe I have said this before, but I will say it again - 2% is very reasonable.  Frankly, I think you would be better off increasing it even more (to say 2.5% or 3%), and giving the site a bit more leeway to spend money on improving services.

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

I disagree.  I would bet that overall, this will result in increased profits.  Ultimately, the profits here are driven by PoolWaffle's persistence and hard work.

--

One thing that I would not mind, would be delaying payouts by a day.  This does increase risk by nature of the pool holding coins (something PoolWaffle has previous said he wants to avoid), but would give much more leeway in low-fee spends.

[zneww]

JHammer, you really should stop being so critical of everything. If you want it how you want it, make your own pool. You have a gripe with every pool?

Your right.. As I am making freaking twice as much here as I was at that lame pool you pimp..  CoinSolver..

What are you even doing in this thread..  Go back to CoinSlover where you make 0.0021 per MH's per day..

 

lollllll

Well for one, it is annoying as dog shit watching you bitch on EVERY post. I am not defending CS or anything I am just saying to stop commenting uselessness. I am sure you are making a "killing" over $1 a day........I am a pimp, let me dust my shoulders off. Who says that...lol I help people when I can in these forums...i didn't know I was locked to one threads. Thanks, come again. As for you gtaah, keep laughing


Can I see your twice as much as well? lolol

EDIT: and what a surprise it is JHammer and gtaah bitcheing about stuff. Shocker.

You obviously have a serious mental disorder and I hope your seeking treatment for it.. 

Good comeback? lol

[nopus]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

It's win / win deal!  We need you have time to spent on profitability!

I sign for 2%

/\/

[suchmoon]

So... Its not worth it for the price they are asking (200€) right?

I wouldn't buy them at 200 EUR. But do your own math with your assumptions, risk tolerance, opportunity cost etc.

[LPCobris]

So... Its not worth it for the price they are asking (200€) right?

I wouldn't buy them at 200 EUR. But do your own math with your assumptions, risk tolerance, opportunity cost etc.

I know they are a bit overpriced (a lot!), but what is crushing me is the energy bill...

I have currently a system doing 1200w for 2.5 mhash and another for 1000w doing 1.8 mhs...
Plus my main systems with 1.7mhash doing 700w

So it s a lot of consuption... If that gridseed costed 200€ but have 660khash, that would be a good alternative, but for now i don´t think so...

Too low khash for so much money...

LPC

[comeonalready]

Actually, it will result in 1% less profit for miners, but regardless, it is still within a reasonable range for poolwaffle's services rendered.

I disagree.  I would bet that overall, this will result in increased profits.  Ultimately, the profits here are driven by PoolWaffle's persistence and hard work.

I would take that bet if I didn't think you were just the type to welsh on it.

poolwaffle deserves to be fairly compensated for his work, but you are delusional if you think it is going to enable him to find some new magical formula for higher profitability.  We will all be earning 1% less here from now on, but without poolwaffle, we would have already been earning less all along.  He needs to cover growing expenses AND his time.

[Panteraswift]

We've been the lowest fee profit-switching pool since our start, but we do have to raise the pool fee from 1%, to 2%.

In an effort to keep with the transparency that this pool has always tried to put forth, a full explanation of the reasoning/rationality follows.

Essentially, it is nearly impossible to run the pool the way I'd like it to be run at a 1% fee.  Of that fee, a huge portion comes off the top immediately to exchange fees.  Using cryptsy as the example because most of our exchanging happens there, we lose 0.3% immediately.  We also lose a bit (depending on the coin) to transaction fees to get coins from our account, to the exchange, a bit more from the exchange to our bitcoin account, and a decently large chunk in bitcoin fees (this has gone down in 0.9, but its still a decent amount with our volume of low-priority coins) when we run payouts (and a lot more on sundays when we run 0.001 minimums).

After all of these fees, plus hosting costs (which have doubled due to the DDOS and constant attacks on our boxes), DDOS protection, server monitoring, etc, we're left with an extremely small amount for actually running the pool.  At the end of the day, with me working on the pool for 40hrs/wk (a very conservative estimate), I'm looking at what amounts to a manager's job at walmart.  Except the manager at walmart doesn't get woken up nightly due to server pages.

Essentially, for me to be able to justify the amount of work I put in on wafflepool, I need to raise the fees.

I've been wrestling with the decision for a few weeks now, and during the start of the DDOS/attacks was at the point of saying "fuck this, its just not worth the stress", but decided to fight through it and get 3hrs of sleep a night for the week.  We're back, and today is our best profit day in a while (thank god for bad luck streaks...), but its at this point that I need to raise the fees to make it worth it to run in the future.

2% seems reasonable to me.  It matches almost all of our competitors (who were smart enough to do it in the beginning), and isn't a huge change to the end user (1% to 2% isn't a major change in profitability).  And allows me to sink more work into the pool without feeling screwed at the end of the day.

Again, sorry it has to happen, feel free to rant about how this is the end of WP/multipools/etc, it wasn't a decision made lightly.

As far as I´m concerned, hard work has to be profitable. If you need to charge 2% for your work to be profitable, so be it. If the pool is more profitable that the competition even with the increased fee, the fee size will be irrelevant.

[phzi]

poolwaffle deserves to be fairly compensated for his work, but you are delusional if you think it is going to enable him to find some magical formula for higher profitability.  We will all be earning 1% less here from now on [...]

Well, I know there are several profit increasing features that PoolWaffle has not had the time or resources to work on.  With increased revenue, maybe we'll see some of these functions come to life.  That's what I was suggesting (and would take a bet on).  I have talked to PoolWaffle previously about some fairly significant upgrades that could increase profits measurably - and I understand they have been on a TODO list.

comeonalready: Can you please avoid double posting?  It makes threads much more irritating to read.  Edit and multi-quote are great features just waiting to be used.  And really, how about cutting out the pointless insults already?

[comeonalready]

poolwaffle deserves to be fairly compensated for his work, but you are delusional if you think it is going to enable him to find some magical formula for higher profitability.  We will all be earning 1% less here from now on [...]

Well, I know there are several profit increasing features that PoolWaffle has not had the time or resources to work on.  With increased revenue, maybe we'll see some of these functions come to life.  That's what I was suggesting (and would take a bet on).  I have talked to PoolWaffle previously about some fairly significant upgrades that could increase profits measurably - and I understand they have been on a TODO list.

comeonalready: Can you please avoid double posting?  It makes threads much more irritating to read.  Edit and multi-quote are great features just waiting to be used.  And really, how about cutting out the pointless insults already?

I suggest you re-read your posts directed towards me and count the number of insults that you lobbed in my direction.  How about you respect this place as being a forum for others to discuss the topic at hand?  

Follow your own advice if you can.  

And if you don't like my double posts, each of which is a reply to a different person, then too bad.

[poolwaffle]

I really appreciate the support guys, totally expected way more "everything sucks, you suck, and I'm out".  The main thing the added % allows me to do is to spend more of my time working on WP (whatever that entails - better stats, scrypt-n, general fixes, new coins, etc) without walking away feeling like it wasn't time well spent (this is poorly phrased, but you hopefully know what I mean).

While I do like the idea of delaying payouts (less fees), one thing I've always tried my best to do is make sure your funds are in my hands for as little time as possible.  If an exchange gets hacked (this happens) and they lose the coins, I can very honestly say "there really wasn't much I could do about it", and I think for the most part, people wouldn't be pissed towards WP.  On that note, we try to get coins off the exchanges as quick as we can as well (within reason), to avoid this problem.  At the same time, if WP's wallet box gets hacked, or some catastrophic thing happens where the server dies, and all our backups die at the same time, I want to have the least amount of your funds on that hard drive as possible.  In that case you'll definitely be pissed (understandable), but you can at least be a little comforted that it was 12hrs of lost earnings, rather than 3 days.  I've had users request delaying the payments on their accounts to larger thresholds as they don't want small payouts, but I've always politely declined.  Having the piece of mind that I hold your coins as little as possible is worth a huge amount

That might be an interesting small site if someone wanted to set one up.  Just a payment aggregator (maybe there already is one?).  Give users an address, and you buffer payments into that address until either a threshold is reached, or the user manually requests payouts?