[ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com

[Xenocyde]

Yes, if you switch to 14-day average on Coinwarz, scrypt-n is marginally better than LTC. Saying CoinWarz does not present real data is a bit of a false statement right there. I clearly stated that as of now scrypt-n is under LTC, not on average. However, the X11 coins like HiroCoin seems to be a good alternative because of the power/profitability ratios.

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[zneww]

Yes, if you switch to 14-day average on Coinwarz, scrypt-n is marginally better than LTC. Saying CoinWarz does not present real data is a bit of a false statement right there. I clearly stated that as of now scrypt-n is under LTC, not on average. However, the X11 coins like HiroCoin seems to be a good alternative because of the power/profitability ratios.

Mining is about averages when it comes to multipools, so looking at the 1 day is kinda stupid IMO.

[VirosaGITS]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

[Adibandi]

Hello, i have bitcoin wallet 0.8.6 , and on the website it shows that i was payed 0,0109 btc , i have over 100 confirmations on the blockchain but nithing in my wallet. Do i need to upgrade it to bitcoin core? Or version 0.9 or what is going on?



Address is 1HxQbgxcfeADoF8ma6eZ9XHrf9MLTDdVk2

Txid. fe109a8673ebb8eae7ac46d93cd1ccff52889b0565be2a8a2ee3c9c958ba87dd

[jpchrist]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

I few thoughts about mining "profits"...

First off, unless you are selling each and everything coin you mine on a daily basis there is really no such thing as "profit per day".  I do however, understand that most miners use things like mining calculators that into account power consumption and such but here is really the correct way to think about the relationship between mining, power consumption and profit...

Your mining rig basically allows you to "purchase" coins at a greatly reduced rate compared to a typical exchange.  This purchase of course happens once a month when you pay your power bill.  For example lets say you are running a 5 Mhs rig that uses ~2000W.  Over the course of the month you might generate about 26 LTC.  At $0.10 per KWh your monthly power costs would be around $144.  Therefore, you have effectively purchased 26 LTC for $144 or for about $5.54 per litecoin...far cheaper than anywhere else you could get one at the moment.

Now lets say 2 months from difficulty rises to 12000 and now youre only mining 13 LTC a month.  Your power costs would obviously stay the same @ $144. At this point the "mining calculators" might tell you that you are breaking even (or even losing money) but you are effectively buy 13 LTC for $144 or $11.07 per light coin.  So as long as you think the value of the LTC is going to eventually top $11.07 then you are not mining at a loss.

My point is this...if you think that LTC is going to crash and be worth far less in the future than it is today then yes pull the plug.  The days of quick short term profits and 30 day ROIs are clearly over.  If on the other hand you believe that a LTC (or any other crypto) is worth far more than its valued today then dont even think about unplugging that rig. "Mining when not profitable" might be the best investment youve ever made.

[Verge]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

[edonkey]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

I'm seeing the same problem. I was just about to post, but you beat me to it.

I checked my local logs and it looks like my miners are still in communication with the server, so maybe just the web server is down.

[byt411]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

I'm seeing the same problem. I was just about to post, but you beat me to it.

I checked my local logs and it looks like my miners are still in communication with the server, so maybe just the web server is down.

I have no problem getting in.
Maybe it's a CloudFlare region problem?

[Kifissia]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

I'm seeing the same problem. I was just about to post, but you beat me to it.

I checked my local logs and it looks like my miners are still in communication with the server, so maybe just the web server is down.

Same here

[baddoge]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

I few thoughts about mining "profits"...
 "Mining when not profitable" might be the best investment youve ever made.

That is SO INCORRECT! It's not complicated. If the cost of mining is greater than the cost of the coin you are better off buying the coin, otherwise you are overpaying.

[Verge]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

I'm seeing the same problem. I was just about to post, but you beat me to it.

I checked my local logs and it looks like my miners are still in communication with the server, so maybe just the web server is down.

I have no problem getting in.
Maybe it's a CloudFlare region problem?

Yeah, my miners are still connected and I have received payment from yesterday, so that seems to be going good.

My regional Cloud Flare server seems to be in Chicago if anyone else wants to compare notes.

[Verge]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

I few thoughts about mining "profits"...
 "Mining when not profitable" might be the best investment youve ever made.

That is SO INCORRECT! It's not complicated. If the cost of mining is greater than the cost of the coin you are better off buying the coin, otherwise you are overpaying.

On this I agree with baddoge, I don't see how it would be profitable to pay more to mine a coin than you could by simply shutting off your miners and buying the coin outright.

By my own estimations in the US at 0.12 per KW/h, I am earning roughly $2 for every $1 I spend on electricity when mining here at Clever. Once that dips too much further I am thinking of shutting off some of my miners. I have a mix of GPUs and Gridseeds, so can continue to run the Gridseeds a lot longer and remain profitable.

[Verge]

Is there a problem with the webpage? I have not been able to see my stats for the past day, just times out with a Cloudflare "Host Error" message.

I'm seeing the same problem. I was just about to post, but you beat me to it.

I checked my local logs and it looks like my miners are still in communication with the server, so maybe just the web server is down.

I have no problem getting in.
Maybe it's a CloudFlare region problem?

Yeah, my miners are still connected and I have received payment from yesterday, so that seems to be going good.

My regional Cloud Flare server seems to be in Chicago if anyone else wants to compare notes.

A bit more troubleshooting, it seems I can get to the main site just fine http://www.clevermining.com and even http://www.clevermining.com/users, but when I try to get to my personal stats page http://www.clevermining.com/users/mywalletaddress is when it times out. Also, from the "users" page, if I try to go to the next page by clicking on "2", or any of them actually, it also times out.

[edonkey]

A bit more troubleshooting, it seems I can get to the main site just fine http://www.clevermining.com and even http://www.clevermining.com/users, but when I try to get to my personal stats page http://www.clevermining.com/users/mywalletaddress is when it times out. Also, from the "users" page, if I try to go to the next page by clicking on "2", or any of them actually, it also times out.

Yup. Same here. I can get to the main web site, but it times out when trying to get to my user stats.

Maybe the user statistics side of the site is running on a different server.

My reported CloudFlare site is San Jose.

[jpchrist]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

I few thoughts about mining "profits"...
 "Mining when not profitable" might be the best investment youve ever made.

That is SO INCORRECT! It's not complicated. If the cost of mining is greater than the cost of the coin you are better off buying the coin, otherwise you are overpaying.

On this I agree with baddoge, I don't see how it would be profitable to pay more to mine a coin than you could by simply shutting off your miners and buying the coin outright.

By my own estimations in the US at 0.12 per KW/h, I am earning roughly $2 for every $1 I spend on electricity when mining here at Clever. Once that dips too much further I am thinking of shutting off some of my miners. I have a mix of GPUs and Gridseeds, so can continue to run the Gridseeds a lot longer and remain profitable.

I completely agree! I never claimed that is isnt more profitable to buy the coin outright compared to mining at a certain point.  I was merely making the point that mining "at a loss" can still be profitable.

[Verge]

Ok, I see what you mean. Basically, just saying if the coin goes up at some later date, you wouldn't necessarily be mining at a loss at that point, even though it would still be better to purchase the coins during the said time period.

[Verge]

A bit more troubleshooting, it seems I can get to the main site just fine http://www.clevermining.com and even http://www.clevermining.com/users, but when I try to get to my personal stats page http://www.clevermining.com/users/mywalletaddress is when it times out. Also, from the "users" page, if I try to go to the next page by clicking on "2", or any of them actually, it also times out.

Yup. Same here. I can get to the main web site, but it times out when trying to get to my user stats.

Maybe the user statistics side of the site is running on a different server.

My reported CloudFlare site is San Jose.

Look's like it finally started to work. I don't know if Terk worked it out or if it just required a bit more patience.

Also good to see the payments are up a bit, 132% LTC profitability.

[rahrahrah]

Ok, I see what you mean. Basically, just saying if the coin goes up at some later date, you wouldn't necessarily be mining at a loss at that point, even though it would still be better to purchase the coins during the said time period.

Yeah this makes sense. Some people can't buy coins easily though and it's easier for them to mine.

[grippy54]

Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.

Methink some miners better turn off their mining machines.

Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.

Let me point out the variable that you seem to have forgotten ; Power cost:

It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user  @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.

At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :

Methink some miners better turn off their mining machines.

My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.

So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down

I few thoughts about mining "profits"...
 "Mining when not profitable" might be the best investment youve ever made.

That is SO INCORRECT! It's not complicated. If the cost of mining is greater than the cost of the coin you are better off buying the coin, otherwise you are overpaying.

baddoge -- That's overly simplified. There are lots of reasons to mine that are not about making money today. Two big ones are speculation of future value, and just plain fun.

[Terk]

Sorry for problems occurring today with accessing user stats pages. This should be solved now.