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

[byt411]

First post on here so forgive my stupidity.
Been on CM for about 14 days now. Payouts seem to be regular and earnings consistent.
A shame the BTC per MH/s has dropped massively over last month but I guess thats the result of the ASICs flooding the scene.

My question is this
CM mines the most profitable coin in comparison to LTC, right?
So say LTC is paying 0.007 BTC/MH per day then CM will look for a better coin to mine to exceed that said 0.007 BTC?
So why the hell when no coin is available with a higher payout % doesn't CM just mine LTC instead of dropping the payout to something like 40% of LTC?

Am I missing the absolute obvious? Please shine some light, I would be so grateful, many thanks.

Midge

http://www.clevermining.com/users/1MjbHQ9YY3CGNsmyPTCC5vpXtVGtwsNLTg

[edit] If you wondering why I have such high rejects, its because my 26MH/s HASHRA sucks and is being shipped back to china on Monday, its faulty.
Roll on when my 10 x 14MH/s miners turn up, bloody hope they make back the £7500 I have spent!!! 3 year ROI anyone? eeeek!

This is addressed on nearly every page in this thread. The short version is: VARIANCE.

Slightly longer version: you wouldn't get 100% LTC profitability if you mined only LTC - due to pool fees, orphans etc. Furthermore, due to the random nature of mining (i.e. luck) you would have days significantly below 100% as well as above. In other words if CM is doing >= 98% LTC profitability it's already beating LTC-only mining, and you can see it's been above 100% quite consistently: http://clevermining.com/profits

I don't think it ever was at 40% LTC though.

Now for the really bad news enter your numbers here: https://bitcoinwisdom.com/litecoin/calculator
Try 5% difficulty increase (optimistic) and then 10% (less optimistic)

Suchmoon, can you detail how %LTC Profitability is calculated?

Simple. Your hashrate/LTC network hashrate x Daily LTC reward (28800).

[1714197917]

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[suchmoon]

Suchmoon, can you detail how %LTC Profitability is calculated?

If you're asking about the 115% etc as displayed by CM and other pools, then it's the pool's income for the period (e.g. 24 hours), typically after all fees have been deducted, divided by the "theoretical" LTC profitability (formula posted by byt411 just above).

[krikiki]

Hello, I have made ​​a mistake with the Bitcoin address:
bf10423488e0f8bfe71616cec86099e842f93659
this is the Cryptsy Trade Key.
Proper Bitcoin address is:
1NyP9u9dcWE6YBNLy44YrXxGxg1eLfyEro
Please transfer the generated bitcoins to this address BTC

Thank you very much

[Terk]

Hello, I have made ​​a mistake with the Bitcoin address:
bf10423488e0f8bfe71616cec86099e842f93659
this is the Cryptsy Trade Key.
Proper Bitcoin address is:
1NyP9u9dcWE6YBNLy44YrXxGxg1eLfyEro
Please transfer the generated bitcoins to this address BTC

Thank you very much

I can't just transfer funds from address A to B to anyone who asks for it. Please start mining with your new/proper address and let me know when you do this. When I confirm that you're mining with the same IP address as the invalid username, then I will merge both users.

[Terk]

hey just to update- i did get payout today- just kinda weird, nothing yesterday-still much better compared to the old days, guess i got use to the daily, this is a great pool but the stuck is not broached often enough

We had delayed withdrawals from one of exchanges on Friday so we only had ~50% of coins exchanged at the time of Fri/Sat payout (they were exchanged but we were waiting for withdrawing BTC). So anyone who doesn't get more than 0.02 - 0.025 BTC daily probably didn't make 0.01 BTC on Friday for the payout. It was withdrawn on Saturday and was included in Sat/Sun payout which was probably higher than your usual daily payout.

[Terk]

My question is this
CM mines the most profitable coin in comparison to LTC, right?
So say LTC is paying 0.007 BTC/MH per day then CM will look for a better coin to mine to exceed that said 0.007 BTC?
So why the hell when no coin is available with a higher payout % doesn't CM just mine LTC instead of dropping the payout to something like 40% of LTC?

Am I missing the absolute obvious? Please shine some light, I would be so grateful, many thanks.

Of course we mine LTC always when there are no more profitable coins and/or we put some portion of our hashrate into LTC if more profitable coins can't handle all our hashrate. Your question was answered numerous times and the best answers are probably these two:

https://bitcointalk.org/index.php?topic=448649.msg5808056#msg5808056
https://bitcointalk.org/index.php?topic=448649.msg7155326#msg7155326

[Terk]

Been mining here for a few days and have 0.02531212  ready for payout.
I feel I should have had 2 payouts by now.
Can someone tell me when I can expect my payout?
Here' my address 1bQQKrNBbGT3zdmJpz7Jos8F6MBBWCstw.
Thanks..

You started on Friday and we had some withdrawals delayed from one of exchanges on Friday (read more at https://bitcointalk.org/index.php?topic=448649.msg7833983#msg7833983), so most likely you didn't have 0.01 BTC exchanged at the time of Fri/Sat payout (exchanged means exchanged and withdrawn from exchange wallet to our wallet). We got these withdrawals somewhere on Fri/Sat night so you saw your 0.02531212 ready for payout on Sat morning (but it didn't mean that you had 0.01 or more at time of payout). You were then paid on Sat the full balance (and then next payout on Sun). This is how coin-switching pool with auto-exchanging works - we need to exchange coins and withdraw BTC from exchanges and time required to do this vary sometimes.

[Terk]

Hey Terk, I've been mining at your pool continuously for more than 24 hours and according to my statistics given at CM it states my earning as: 0.0031, but I'm mining with 5.5mH/s miner(on an avg 5.33mH/s); so how come my earning is so low? Even if BTC/MH/Day is 0.00066, my 24 hours earning should be 0.000363(0.00351 @ 5.33mH/s). Please care to explain(already the hash-rate displayed at CM for my miner is wrong!).

Thanks

P.S. If the given statistics are true than it seems mining LTC directly is more profitable.

Mining at CM is definitely more profitable than mining straight LTC. I can't really comment on your numbers if you don't tell me your address so that I could check them. Most of the time when people have issues like this it's because they read something on their stats page wrong.

[macsga]

Just managed to point my 2 antminers + 1 BFL60 to your pool today. There's a constant error on bfgminer:

(Low difficulty share of 0.0)

Is there a way to overcome this?

[Terk]

i am not even talking about stuck... i am talking about ready to pay out above.01 that was not paid out

This shouldn't be possible. Let me know your address so that I could check.

Also, please be aware that the fact that you see more than 0.01 ready to pay doesn't mean that there was more than 0.01 ready to pay at the time of last payout. Please take a look for a real-life example of this: https://bitcointalk.org/index.php?topic=448649.msg7834146#msg7834146

If you see 0.01 BTC ready for payout and you are not paid on the next payout, then it means something is wrong. But in 100% of such cases in the past it was the BTC address wrong - in this case I can correct the address for you. Anyway, let me know your address as I can't really check anything without knowing it.

[Terk]

Just managed to point my 2 antminers + 1 BFL60 to your pool today. There's a constant error on bfgminer:

(Low difficulty share of 0.0)

Is there a way to overcome this?

There is - start mining with scrypt miners instead of SHA-256 miners as this is scrypt mining pool ;-)

(this will change soon as I will be adding more algorithms very soon, but for now it's scrypt-only).

[macsga]

Just managed to point my 2 antminers + 1 BFL60 to your pool today. There's a constant error on bfgminer:

(Low difficulty share of 0.0)

Is there a way to overcome this?

There is - start mining with scrypt miners instead of SHA-256 miners as this is scrypt mining pool ;-)

(this will change soon as I will be adding more algorithms very soon, but for now it's scrypt-only).

LOL!

Hurry up then!!!

PS: Great concept. Keep up the good work.

[Terk]

Hi!, I apologize in advance for my broken English ....

I have a question, I'm on CM for 10 days, my payout is ready for 0.024, why I can not get paid? has gone more than a week, but nothing, what should I do?


thank you  

Please provide your address so Terk or someone can help you out.

1DkXmLBhjeGaEUSN89yimG3A432JgT6XTo this is my address, thanks  

You had an error in your address when you first connected to CM: you used 1DkxmLBhjeGaEUSN89yimg3A432JgT6XTo instead of 1DkXmLBhjeGaEUSN89yimG3A432JgT6XTo so you had two letters capitalized wrong. This is how your username was created and what's used for payouts.

I have just renamed your username to the correct value so your should expect a payout tonight.

[Terk]

Yeh this has happened to more than a few ppl . When you stop mining left over  coins dont mature or exchange.. even after one week. Anyway as i was saying missing hashrate looks like its back now so let me run it for 24 hr again to see if its all good.

Stopping or continuing mining doesn't matter in this issue. It's just easier to notice when you stopped mining. I'm working on these stuck unexchanged/immature balances. Most of them are orphan blocks but the pool software couldn't correctly classify post-fork orphaned blocks as valid or invalid so it left them marked as immature/unexchanged as there was some chance that there were still valid blocks. I'm reviewing this manually to recover valid blocks and will work on improving automated orphans detection in post-fork situations so that such blocks stop stucking as unexchanged.

Quick question shouls i set the diff myself or leave it vardiff ?

You should start with vardiff and set fixed difficulty only if you experience issues like lower hashrate than you expected (but if you do, please make sure your miner doesn't report hardware errors as if it does, then it's the most likely reason of lowered hashrate).

You will find more details here: https://bitcointalk.org/index.php?topic=448649.msg7360436#msg7360436 - in short: vardiff will work best for most miners. If you want to setup fixed diff, please read the linked post first.

[Terk]

Hi,

I am running a total of 28.522mh/s according to Hashra blade controller (I have 5 grid seed blades) however according to clevermining user stats I am running at 21mh/s

I have been running over 24 hours and can confirm my current stats

28.526 Mh/s current hashrate 28.526 Mh/s avg hashrate 274764 / 11817 Acc./Rej.
4.30 % rejection rate
8526 Hardware errors

Any idea why clevermining is so off?

bobby

8526 Hardware errors are most likely the reason for this. You either have some of your gridseeds broken or you overclock them too much. Try to lower the voltage and get zero hardware errors first. Then start comparing hashrate reported by your miner and by the pool.

[Terk]

I think Terk should just amend the policy and say anything below .0005BTC (just throwing a number out there) after fees will be abandoned after a month if the user does not start mining again. I can't see how it's worth the hassle for him and it would certainly cut down on posts about this.

Alternatively, do a once-a-month payment run which clears out any small balances, for users who haven't mined in the last X days.

This is simply not possible with the model when covers payout transaction fees with their own money.

The pool earned 0.00001 BTC on your 0.0005 BTC (2%). Sending 0.0005 BTC costs

- 0.00000625 BTC if sent in mass-payout to multiple users or
- 0.0001 BTC if sent manually to one users.

The first would eat 62.5% of what the pool earned.
The second one would mean the pool would need to pay 10x more than it earned just to send you these coins.
And this is the reason why there are payout minimums required to trigger the payout.

You can read more about it here: https://bitcointalk.org/index.php?topic=448649.msg7420290#msg7420290

[Terk]

I think it's not fair when BIG players come to this pool with their Powerful mining hardware which costs at least 10.000$ and suck up all coins. Need  to add some limitations for BIG players (or for example add extra pool fee 7% - 10% for them)...pool hashrate is too high...and that's not fair for small miner owners...

Big players are actually very beneficial to the pool because they help to reduce variance when we mine high-difficulty coins.

[Terk]

I think, you did not understand what I meant. I wasn't referring to the overall hashrate of the whole clevermining-pool including all users, but the single hashrate of one user.
Why is it dropping, if you count each and every submitted share even of the previous mined coins, after the pool switched? If it was like this, the hashrate could not drop from let's say 80 MH/sec to 60 MH/sec. for some time (sometimes 5 minutes or more), right?

Then I think you don't understand what is “hashrate reported by the pool”. Let me explain.

The pool doesn't know your hashrate. It can only estimate it based on number of shares which your miner submits, so what the pool shows is only an estimation. You miner knows your exact hashrate because it knows how many hashes it calculated. But it only sends to the pool hashes that meet required difficulty (they're called shares) and the pool estimates your hashrate based on these submitted shares (based on knowledge than it takes X MH/s to find one Y-difficulty share per second). But number of shares which your miner finds varies wildly as mining is a kinda-random game. Sometimes you find 10 shares in a minute, sometimes you won't find even a single share in a minute. If you look at 5-minute values then your hashrate estimated based on shares submitted can jump between 60 and 80 MH/s and even more. The shorter the timespan the bigger the variance.  Just like in throwing a dice. If you throw a dice three times and look at each result individually then you can get 1, 3 and 6. If you throw 30 times and take 10-throw averages then you can get 3, 3.6, 4.1. If you throw it 300 times and take 100-throw averages then you can get 3.4, 3.5, 3.6. It's the same with checking 5-minute, 1-hour and 24-hour mining averages. What you want to compare is 24-hour average, anything less is just too vulnerable to variance.

[Melupira89]

Hi!, I apologize in advance for my broken English ....

I have a question, I'm on CM for 10 days, my payout is ready for 0.024, why I can not get paid? has gone more than a week, but nothing, what should I do?


thank you 

Please provide your address so Terk or someone can help you out.

1DkXmLBhjeGaEUSN89yimG3A432JgT6XTo this is my address, thanks 

You had an error in your address when you first connected to CM: you used 1DkxmLBhjeGaEUSN89yimg3A432JgT6XTo instead of 1DkXmLBhjeGaEUSN89yimG3A432JgT6XTo so you had two letters capitalized wrong. This is how your username was created and what's used for payouts.

I have just renamed your username to the correct value so your should expect a payout tonight.

Thanks for your help, to make good, good work and good day

[imall4btc]

Hey Terk, I've been mining at your pool continuously for more than 24 hours and according to my statistics given at CM it states my earning as: 0.0031, but I'm mining with 5.5mH/s miner(on an avg 5.33mH/s); so how come my earning is so low? Even if BTC/MH/Day is 0.00066, my 24 hours earning should be 0.000363(0.00351 @ 5.33mH/s). Please care to explain(already the hash-rate displayed at CM for my miner is wrong!).

Thanks

P.S. If the given statistics are true than it seems mining LTC directly is more profitable.

Mining at CM is definitely more profitable than mining straight LTC. I can't really comment on your numbers if you don't tell me your address so that I could check them. Most of the time when people have issues like this it's because they read something on their stats page wrong.

Hello Terk, thanks for replying. Here's my BTC address: 1CfapZ4MW1GGCeW4U4Q6BEFUBYnR7kegB6 .

Thanks