guitarplinker
Legendary
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Activity: 1694
Merit: 1024
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April 27, 2014, 11:28:42 PM |
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I'm curious why the pool is having these 40% profitability compared to LTC hours, if the program can see that the current coin being mined is less profitable than Litecoin mining, why not switch to LTC mining?
I guess the program might not take into account how much money will be made/lost compared to the current BTC per MH/s per day due to the buy/sell orders, especially if it's an inactive coin with little buy orders.
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byt411
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April 27, 2014, 11:31:51 PM |
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I'm curious why the pool is having these 40% profitability compared to LTC hours, if the program can see that the current coin being mined is less profitable than Litecoin mining, why not switch to LTC mining?
I guess the program might not take into account how much money will be made/lost compared to the current BTC per MH/s per day due to the buy/sell orders, especially if it's an inactive coin with little buy orders.
Because there's something called variance. Mining LTC dors not mean that the pool will get 100% LTC profitability, it might get lucky and find more blocks, or get unlucky and find less blocks, so it will never be exactly 100%. |
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byt411
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April 27, 2014, 11:46:35 PM |
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It's probably because they mined WhiteCoin and all of that time mining is now wasted, and price will plummet if it ever gets fixed. |
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Trestle
Member
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Activity: 102
Merit: 10
Rockem Sockem
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April 28, 2014, 12:16:39 AM |
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First, Terk is very busy.
Reasons for unexchanged:
-Unconfirmed Coins
-Exchange Problems
-Manual Exchange Required
-Manually Exchanged but stats not updated
None of these reasons explain un-exchanged dating back multiple months... (except maybe the last one) It does. It actually is the entire reason for those "unechanged" coins from months ago. The unexchanged and immature from months ago are from coins the pool no longer mines. Terk feels they are not worth the time when other issues are more important. |
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byt411
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April 28, 2014, 12:50:54 AM |
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First, Terk is very busy.
Reasons for unexchanged:
-Unconfirmed Coins
-Exchange Problems
-Manual Exchange Required
-Manually Exchanged but stats not updated
None of these reasons explain un-exchanged dating back multiple months... (except maybe the last one) It does. It actually is the entire reason for those "unechanged" coins from months ago. The unexchanged and immature from months ago are from coins the pool no longer mines. Terk feels they are not worth the time when other issues are more important. Yes, and those coins have been manually exchanged, but the records were not put into the database. |
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Trestle
Member
Offline
Activity: 102
Merit: 10
Rockem Sockem
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April 28, 2014, 01:33:24 AM |
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Not according the the message I got from Terk when I sent him the message asking why I have unexchanged and immature that never go away.
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byt411
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April 28, 2014, 01:50:49 AM |
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Not according the the message I got from Terk when I sent him the message asking why I have unexchanged and immature that never go away.
So are you saying that the coins were just left there because Terk isn't bothered to exchange them? |
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Trestle
Member
Offline
Activity: 102
Merit: 10
Rockem Sockem
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April 28, 2014, 03:51:40 AM |
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Not according the the message I got from Terk when I sent him the message asking why I have unexchanged and immature that never go away.
So are you saying that the coins were just left there because Terk isn't bothered to exchange them? They are dust amounts of coins the pool no longer mines. There are good reasons they are sitting there. 1 they are not worth what they were when mined. 2 they are coins that are hard to sell now. 3 there is such a small amount of each it's not even worth transferring them. What I am saying is for whatever reason Terk thinks it's more important to get our profits over .00345 and I agree with him. He has done right by everyone that has stuck with him. Though I find it annoying to see a small amount sitting in my account never going away I am more worried about over all profits then the 50 cents I mined a few months ago that is probably really worth 10 cents now. |
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highwalker
Jr. Member
Offline
Activity: 45
Merit: 5
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April 28, 2014, 08:14:24 AM |
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Not according the the message I got from Terk when I sent him the message asking why I have unexchanged and immature that never go away.
So are you saying that the coins were just left there because Terk isn't bothered to exchange them? They are dust amounts of coins the pool no longer mines. There are good reasons they are sitting there. 1 they are not worth what they were when mined. 2 they are coins that are hard to sell now. 3 there is such a small amount of each it's not even worth transferring them. What I am saying is for whatever reason Terk thinks it's more important to get our profits over .00345 and I agree with him. He has done right by everyone that has stuck with him. Though I find it annoying to see a small amount sitting in my account never going away I am more worried about over all profits then the 50 cents I mined a few months ago that is probably really worth 10 cents now. Agreed! |
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Ibistru
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April 28, 2014, 10:10:05 AM |
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1 they are not worth what they were when mined.
2 they are coins that are hard to sell now.
3 there is such a small amount of each it's not even worth transferring them.
Aren't alt coins supposed to be exchanged right after mining them? What is the purpose of holding them until they are worth less? This is supposed to be a mining pool, not a trading pool. |
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zneww
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April 28, 2014, 01:19:21 PM |
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1 they are not worth what they were when mined.
2 they are coins that are hard to sell now.
3 there is such a small amount of each it's not even worth transferring them.
Aren't alt coins supposed to be exchanged right after mining them? What is the purpose of holding them until they are worth less? This is supposed to be a mining pool, not a trading pool. Oh vay....Let me ask you something.. When a new coin comes out and it is not on Cryptsy, which for as far as I know is the only "auto-exchange". Then the trade has to be done MANUALLY. Do you have time to sit in front of your pc and watch the coins come in and then click trade after they transfer to whichever wallet and exchange that has to be used. If yes, get a life. But the answer is no, as no one really can. EDIT: What was the payout for someone with about 1.6Mh/s last night |
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Ibistru
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April 28, 2014, 01:31:44 PM |
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Oh vay....Let me ask you something..
When a new coin comes out and it is not on Cryptsy, which for as far as I know is the only "auto-exchange". Then the trade has to be done MANUALLY. Do you have time to sit in front of your pc and watch the coins come in and then click trade after they transfer to whichever wallet and exchange that has to be used. If yes, get a life. But the answer is no, as no one really can.
You surely are jocking... or you just don't realize that altcoin profitabily (compared to LTC) changes by the hours... so it would be completely pointless to mine now a coin that has, let say, 20% profitability and to exchange it six hours later when its profitability is -10%. If you really believe that is the way to run a multicoin pool then you are beyond help bro! |
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zneww
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April 28, 2014, 01:34:19 PM |
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Oh vay....Let me ask you something..
When a new coin comes out and it is not on Cryptsy, which for as far as I know is the only "auto-exchange". Then the trade has to be done MANUALLY. Do you have time to sit in front of your pc and watch the coins come in and then click trade after they transfer to whichever wallet and exchange that has to be used. If yes, get a life. But the answer is no, as no one really can.
You surely are jocking... or you just don't realize that altcoin profitabily (compared to LTC) changes by the hours... so it would be completely pointless to mine now a coin that has, let say, 20% profitability and to exchange it six hours later when its profitability is -10%. If you really believe that is the way to run a multicoin pool then you are beyond help bro! You're an idiot. Do these pool OPs use magic? Don't come talking when you have no idea how things work. EDIT: and I am not "jocking" |
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Ibistru
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April 28, 2014, 01:42:25 PM |
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You're an idiot.
Do these pool OPs use magic?
Don't come talking when you have no idea how things work.
EDIT: and I am not "jocking"
Ok so you just don't get it. As I said you are beyond help. Anyway, in case anybody is interested to understand, I will just explain that trading once every two hours could be good enough to save profitability. If there are two people trading, it is six trades for each of them every day. Are they supposed to do this? If they are hobbists, no. If they presume to run a pool professionally (i.e. bring revenue to associates and get a fee for their work), then yes. Else people will just switch to other pools. EDIT: I dont want to imply that clevermining is not run diligently. That was only in reply to someone's questions. My original question is: why are there still unexchanged payoffs dating back to January, February and March? |
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murraypaul
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April 28, 2014, 01:48:13 PM |
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Oh vay....Let me ask you something..
When a new coin comes out and it is not on Cryptsy, which for as far as I know is the only "auto-exchange". Then the trade has to be done MANUALLY. Do you have time to sit in front of your pc and watch the coins come in and then click trade after they transfer to whichever wallet and exchange that has to be used. If yes, get a life. But the answer is no, as no one really can.
You surely are jocking... or you just don't realize that altcoin profitabily (compared to LTC) changes by the hours... so it would be completely pointless to mine now a coin that has, let say, 20% profitability and to exchange it six hours later when its profitability is -10%. If you really believe that is the way to run a multicoin pool then you are beyond help bro! What you don't understand is that for the most part, the reason profitability changes is because of changes in the difficulty of mining the coin, not changes in the value of the coin. The multipool switches to the coin because it can mine more coins. It doesn't matter as much when it actually sells them. |
BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
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Ibistru
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April 28, 2014, 01:54:09 PM |
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What you don't understand is that for the most part, the reason profitability changes is because of changes in the difficulty of mining the coin, not changes in the value of the coin.
The multipool switches to the coin because it can mine more coins. It doesn't matter as much when it actually sells them.
I understand very well that mining difficulty is very important. But you cannot say that exchange rates don't change during several hours and that they are basically ininfluent. This could be true, in some measure, between bitcoin and litecoin, but it doesn't hold for all the alt currencies. |
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zneww
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April 28, 2014, 01:57:57 PM |
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What you don't understand is that for the most part, the reason profitability changes is because of changes in the difficulty of mining the coin, not changes in the value of the coin.
The multipool switches to the coin because it can mine more coins. It doesn't matter as much when it actually sells them.
I understand very well that mining difficulty is very important. But you cannot say that exchange rates don't change during several hours and that they are basically ininfluent. This could be true, in some measure, between bitcoin and litecoin, but it doesn't hold for all the alt currencies. Who said exchange rates do not change? You do not understand. Clearly. It is IMPOSSIBLE to trade the coins as soon as they are mined. For one, many coins have high confirms to rid multipools. two, Nothing I say to you, you understand b/c you obviously are very hard headed. |
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murraypaul
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April 28, 2014, 02:06:52 PM |
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What you don't understand is that for the most part, the reason profitability changes is because of changes in the difficulty of mining the coin, not changes in the value of the coin.
The multipool switches to the coin because it can mine more coins. It doesn't matter as much when it actually sells them.
I understand very well that mining difficulty is very important. But you cannot say that exchange rates don't change during several hours and that they are basically ininfluent. Luckily, I didn't say that. I said that the change in price mattered less than the change in difficulty. That is true. |
BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
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Ibistru
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April 28, 2014, 02:08:20 PM |
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Who said exchange rates do not change? You do not understand. Clearly. It is IMPOSSIBLE to trade the coins as soon as they are mined. For one, many coins have high confirms to rid multipools. two, Nothing I say to you, you understand b/c you obviously are very hard headed.
It is IMPOSSIBLE to trade the coins as soon as they are mined. You are right. But what about some hours later? How that explains unexchanged payoffs dating back to March and earlier? Is that due to my hard-headedness?  |
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