bitlind
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Activity: 252
Merit: 10
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May 14, 2014, 11:52:06 PM |
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It's sad to see the averages are this low currently.. (Because of the decreasing value of Scrypt coins).. Do you guys think we will hit the 0.009 BTC / MH / D again someday? Like we did at the 19th of April.
Personally, I think the rewards keep decreasing (as more Scrypt ASICS are coming on the market; more hashrate..)
Oh I don't think its solely tied to global hashrate. Litecoin difficulty decreased between May 6th and today, it jumped to 7292 today. Doge dropped substantially on Apr 28. Feathercoin dropped a lot on Apr 25th. Asic hashing power is distributing across many alt coins, which is unlike bitcoin and the sha256 algo, all miners there are pointed at btc. I dont think Asics will have the kind of effect on alt coins like it did with bitcoin. Whats causing the decrease earning potential per MH? That I am not entirely sure, but I would argue that the disbursement of hash across many coins is good for miners and will help keep profits up for creative miners and those with GPUs. |
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guitarplinker
Legendary
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Activity: 1694
Merit: 1024
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May 15, 2014, 02:10:22 AM |
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It's sad to see the averages are this low currently.. (Because of the decreasing value of Scrypt coins).. Do you guys think we will hit the 0.009 BTC / MH / D again someday? Like we did at the 19th of April.
Personally, I think the rewards keep decreasing (as more Scrypt ASICS are coming on the market; more hashrate..)
I'm hoping we can see the 0.01 BTC/MH/s per day days that we used to have a few months back. Days like today aren't making it easy for me to pay off my miners.  |
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dmz241
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May 15, 2014, 04:36:09 AM |
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I am a bit confused to as how this exactly works. They say we are mining the most profitable coin but usually the exchanged coins take like 8hrs + to get from immature to be available for payout. This brings a question in mind does the coin remain that much profitable at the time of exchange? Cause it seems that clevermining is being clever and I am only getting the same payout as I was on coinshift even though the profitably here seems higher at least from the stats being provided my clevermining... I may just be plain wrong as I am new to all this but can anyone please explain to me if I am calculating somthing wrong here?
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alpatcomm
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Activity: 22
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May 15, 2014, 05:48:23 AM |
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I am a bit confused to as how this exactly works. They say we are mining the most profitable coin but usually the exchanged coins take like 8hrs + to get from immature to be available for payout. This brings a question in mind does the coin remain that much profitable at the time of exchange? Cause it seems that clevermining is being clever and I am only getting the same payout as I was on coinshift even though the profitably here seems higher at least from the stats being provided my clevermining... I may just be plain wrong as I am new to all this but can anyone please explain to me if I am calculating somthing wrong here?
That's exactly the information I am after too. Simply put is the altcoin most profitable at the time of exchange? Or maturity etc... |
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byt411
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May 15, 2014, 07:11:15 AM |
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I am a bit confused to as how this exactly works. They say we are mining the most profitable coin but usually the exchanged coins take like 8hrs + to get from immature to be available for payout. This brings a question in mind does the coin remain that much profitable at the time of exchange? Cause it seems that clevermining is being clever and I am only getting the same payout as I was on coinshift even though the profitably here seems higher at least from the stats being provided my clevermining... I may just be plain wrong as I am new to all this but can anyone please explain to me if I am calculating somthing wrong here?
That's exactly the information I am after too. Simply put is the altcoin most profitable at the time of exchange? Or maturity etc... All coins need to mature and get confirmed. Also, coins are profitable mostly due to a drop in difficulty, not a spike in price. |
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Ibistru
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May 15, 2014, 07:17:59 AM |
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Also, coins are profitable mostly due to a drop in difficulty, not a spike in price.
Yes but since when difficulty drops for a particular coin everyone runs to mine it, multi-pools first... and they dump it as soon as it is mined... guess what happens to its price. |
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dmz241
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May 15, 2014, 07:20:14 AM |
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well I do believe that price should be factored in. I mean if you mine a million doges in like say an 1hr due to low difficulty but the btc price of it is only .003 and at the same time ltc price in btc is like 0.2 it doesn't make sense in mining doges at that time. Thats just my opinion I maybe wrong but price must have been factored in or else this formula becomes useless. Why not just mine a dieing coin it will have the lowest difficulty and claim that you made alot of money even though you cant exchange it...
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byt411
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May 15, 2014, 07:22:02 AM |
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Also, coins are profitable mostly due to a drop in difficulty, not a spike in price.
Yes but since when difficulty drops for a particular coin everyone runs to mine it, multi-pools first... and they dump it as soon as it is mined... guess what happens to its price. Yes, and other multipools also have to wait for the coins to mature too. well I do believe that price should be factored in. I mean if you mine a million doges in like say an 1hr due to low difficulty but the btc price of it is only .003 and at the same time ltc price in btc is like 0.2 it doesn't make sense in mining doges at that time. Thats just my opinion I maybe wrong but price must have been factored in or else this formula becomes useless. Why not just mine a dieing coin it will have the lowest difficulty and claim that you made alot of money even though you cant exchange it...
Of course price is also factored in... That's part of what "profitability" means, you know. |
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dmz241
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May 15, 2014, 07:23:19 AM |
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I might switch back once I receive my first payout from clever mining as I dont see too much difference in that and coinshift. But with coinshift (being a low end miner) I get paid everyday (balance when it reaches 0.001) so I have my coins with me instead of waiting for myself to reach 0.01 I can use the coins now.
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dmz241
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May 15, 2014, 07:24:34 AM |
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So back to square one how do we know the coin was still profitable when it was actually exchanged. Clevermining considers its profits for unexchanged coins only not when they were actually exchanged.
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byt411
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May 15, 2014, 07:26:02 AM |
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I might switch back once I receive my first payout from clever mining as I dont see too much difference in that and coinshift. But with coinshift (being a low end miner) I get paid everyday (balance when it reaches 0.001) so I have my coins with me instead of waiting for myself to reach 0.01 I can use the coins now.
That's actually a good point. It's a nice feature, but Terk has tons of stuff to do, even vardiff isn't back up yet, lol. So back to square one how do we know the coin was still profitable when it was actually exchanged. Clevermining considers its profits for unexchanged coins only not when they were actually exchanged.
Because you mined it at a low difficulty, and even if the price dropped a bit when you exchange it, it's still more profitable than others? |
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suchmoon
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Activity: 3654
Merit: 8921
https://bpip.org
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May 15, 2014, 07:33:31 AM |
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So back to square one how do we know the coin was still profitable when it was actually exchanged. Clevermining considers its profits for unexchanged coins only not when they were actually exchanged.
What exactly are you looking for? I don't think that Terk has a time machine to look up coin's future price, but I'm sure his formula considers market depth and/or other factors that may affect his ability to exchange it at a favorable rate. Just as most multipools do. |
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dmz241
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May 15, 2014, 07:35:19 AM |
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Thats what I am saying not sure. I think I am making about the same. Given I have had a few power outages recently I will stick with clevermining till first payout which I think will be in like 2 more days as I make about 0.0024 daily
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dmz241
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May 15, 2014, 07:41:05 AM |
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So back to square one how do we know the coin was still profitable when it was actually exchanged. Clevermining considers its profits for unexchanged coins only not when they were actually exchanged.
What exactly are you looking for? I don't think that Terk has a time machine to look up coin's future price, but I'm sure his formula considers market depth and/or other factors that may affect his ability to exchange it at a favorable rate. Just as most multipools do. I am looking for payout after exchanged rates to show up so we can compare profitability nothing more. So we can judge how much we are actually making not how much we might be making as opposed to mining ltc directly. |
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dmz241
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May 15, 2014, 07:42:52 AM |
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Also take note with coinshift they dont always mine the most profitable coins they vary their hash rates so when they dump the price doesnt go down that much and also it doesent effect the difficulty too much.
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Trestle
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Activity: 102
Merit: 10
Rockem Sockem
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May 15, 2014, 07:59:06 AM |
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So back to square one how do we know the coin was still profitable when it was actually exchanged. Clevermining considers its profits for unexchanged coins only not when they were actually exchanged.
What exactly are you looking for? I don't think that Terk has a time machine to look up coin's future price, but I'm sure his formula considers market depth and/or other factors that may affect his ability to exchange it at a favorable rate. Just as most multipools do. I am looking for payout after exchanged rates to show up so we can compare profitability nothing more. So we can judge how much we are actually making not how much we might be making as opposed to mining ltc directly. Really that what you looking for. Suchmoon is showing real world numbers with his own machines and tracking all of the major sites. Clever is always competitive. However Scrypt mining is dying a slow painful death. Terk is very upfront with information. He posts here often and doesn't hide in the shadows. When it comes to scrypt pools its a trust worthy pool that will do its best for you. |
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dmz241
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May 15, 2014, 08:24:30 AM |
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I have nothing against him bro. Dont get me wrong just wanted to see what I was actually getting. The chart doesnt say again if its converted or expected. Its not with just this pool the problem is with all pools. And like I was saying I was getting about the same profit with both coinshift and clevermining and it displays in that chart they are very near to each other. From the looks of it I think its better to mine coinshift in my case due to me getting daily payouts.
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Trestle
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Activity: 102
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Rockem Sockem
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May 15, 2014, 08:39:20 AM |
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The reason its like that with all pools is because there is no way to track that much information. From the time a coin is mined to the time it is sold the price can drop or can go up. The best you are going to get on any pool is an approximation. Bigger pools that mine the way clever does have resorted to leaving small coins alone since putting all of that hash at one coin can basically kill that coin. Coinshift takes a different approach and other pools and starting to shift to the idea of spreading the allotted hash they have around in much the same way. I can't speak for terk if he has started to do this yet but I know another big pool has. I didn't really think you were taking a shot at Terk BTW just wanted to give my feelings on the pool and the operator. The numbers are so close you have to go with the pool you feel comfortable with. Since Clever was one of the first and always treated me well I feel its where my loyalty lies when it comes to scrypt.
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dmz241
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May 15, 2014, 08:55:59 AM |
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Oh oky. Thanks for giving a clarification. In anycase I do hope more pools start to go the way of coninshift if most pools do that I believe it will not kill that particular coin and in return give us better returns overall.
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Romulo
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May 15, 2014, 01:25:53 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
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