chilin_dude
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Activity: 78
Merit: 10
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February 13, 2014, 11:23:44 PM |
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From what I have read (I'm not a code guy, I just read and try and learn) yes, most of the 'average' reward coins have the block reward defined whilst its being mined, meaning that taking the average from coinwars etc is much lower profitability than going after each individually high reward block. Of course this will mean more server stress I'd presume as you have to update the profitability calculator more often depending on each block as opposed to difficulty changes and averages.
Good that you've recognised this early and are going to try and implement a fix to improve the pool and profitability!
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SirGeekalot
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February 14, 2014, 12:55:34 AM |
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After the Mt Gox and Silk Road 2 issues recently and the rapid decline in the value of BBC, Have you or anyone else got any thoughts on how we can protect ourselves from poor market performance? 120% profitability is no use if the base currency we are being rewarded in plummets..
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Terk (OP)
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February 14, 2014, 12:56:26 AM |
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Already implemented in LottoCoin. I will test it for a while and after confirming that it works as expected, I'm going to implement it in all random-reward coins in our portfolio. Thanks a lot for the hint!
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XliptTit
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February 14, 2014, 01:07:06 AM |
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After the Mt Gox and Silk Road 2 issues recently and the rapid decline in the value of BBC, Have you or anyone else got any thoughts on how we can protect ourselves from poor market performance? 120% profitability is no use if the base currency we are being rewarded in plummets..
I dont know is this is something you can hegde yourself off, we dont have financial derivatives for BTC price yet, I think the best you could do is sell your BTC to USD or some other currency each day, and maybe implement an auto-sell in some exchange if possible |
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XliptTit
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February 14, 2014, 01:08:46 AM |
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But this price drop doesn't worry me , as it isnt because of a permanent issue. Soon the maleability should be fixed and Mt.Gox will be in the past.Illegal transactions isn't the best way to pump BTC price in my way.
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chilin_dude
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Activity: 78
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February 14, 2014, 01:10:45 AM |
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Already implemented in LottoCoin. I will test it for a while and after confirming that it works as expected, I'm going to implement it in all random-reward coins in our portfolio. Thanks a lot for the hint!
No worries, thats quick implementation, hopefully it improves profitability for you and all other users! |
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Sk1llS
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February 14, 2014, 05:00:35 AM |
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Good news Terk, after the block halving DOGE is no longer profitable to mine for now...
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Hotsauce
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February 14, 2014, 05:09:31 AM |
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Good work Terk, bummer about the last 24 hours - but at least you've now learnt something from it and hopefully the profits earned from your new implementation will make up for the last day or so.
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element515
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February 14, 2014, 05:32:43 AM |
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Considering the messup... we're making coins back pretty fast
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phzi
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February 14, 2014, 06:08:17 AM |
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Can't believe you were acheiving the profits you hav been without.knowing that all the 'random' block reward coins use a known seed with a predictable rnd function - if this wasn't the case, you could specify max block reward for every block and it would be accepted by the network, obviously.
I will watch over the next few days and see if this pool has gotten it figured out well enough to deserve my hashes. Profitability will have to kill wafflepool for that to be the case tho, given you are just catching on to some of the simplest tricks and still don't show any reasonable mining stats.
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Hotsauce
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February 14, 2014, 08:34:54 AM |
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@Terk, you have by far the best looking site out of all the auto-exchanging multipools out there, yet somehow these other pools are gaining hashrate far more rapidly than yours, which is unfortunate.
Now instead of it being the need to master some dark arts to get your hashrate up, I feel you should think about reconsidering your strategy and offer full transparency on the coins you're mining and the fees you're charging.
Your initial strategy of keeping things secret but still managing to keep miners based on the look and feel of your site clearly isn't working, people in the crypto community have been scammed in every corner they turn to and need full transparency and trust when it comes to where they point their precious miners, I feel you should respect that and if you want any chance of becoming the biggest multipool start rethinking your strategy.
Just my 2c, I hate seeing other new multipools overtake yours because I really love your site.
TL;DR change your strategy and become fully transparent otherwise all your hard work will be for nothing.
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SirGeekalot
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February 14, 2014, 08:55:47 AM |
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I agree, Visibility of the Coin currently being Mined and the Profitability of said coin and some other metrics would give people more reasons to trust your site.
I love that i don't have to set up a separate Work account for each miner.but if i knew that there was a profitable Coin and couldn't verify what Coin was currently be mined by Clevermining, I'd be tempted to switch off briefly in case i missed out.
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lordshawk
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February 14, 2014, 10:08:12 AM |
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Can't believe you were acheiving the profits you hav been without.knowing that all the 'random' block reward coins use a known seed with a predictable rnd function - if this wasn't the case, you could specify max block reward for every block and it would be accepted by the network, obviously.
I will watch over the next few days and see if this pool has gotten it figured out well enough to deserve my hashes. Profitability will have to kill wafflepool for that to be the case tho, given you are just catching on to some of the simplest tricks and still don't show any reasonable mining stats.
Just switched to Wafflepool. Found a block within seconds. Reject rate is super low currently compared to clevermining. My discards are also now a fraction of what I was getting. Looks like ill stick to wafflepool for the time being. Cheers. |
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pallas
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Black Belt Developer
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February 14, 2014, 10:37:50 AM |
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Just switched to Wafflepool. Found a block within seconds. Reject rate is super low currently compared to clevermining. My discards are also now a fraction of what I was getting. Looks like ill stick to wafflepool for the time being.
Cheers.
Yes but if you look at how waffle selects which shares to reject (there is talk about this in their thread), you'll see that it actually gives less profit. It just encourages new miners but if everybody has lower rejects, and the shares which are not rejected do not make up for block finding, you have no advantages. You may mine some seconds a day for nothing, though. That's why middlecoin has a similar reject rate to this pool. |
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dency45
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February 14, 2014, 11:49:28 AM |
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I agree, Visibility of the Coin currently being Mined and the Profitability of said coin and some other metrics would give people more reasons to trust your site.
I love that i don't have to set up a separate Work account for each miner.but if i knew that there was a profitable Coin and couldn't verify what Coin was currently be mined by Clevermining, I'd be tempted to switch off briefly in case i missed out.
Middlecoin does not show the visibility of the coin currently being mined and it is successful. |
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Hotsauce
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February 14, 2014, 12:00:15 PM |
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Middlecoin does not show the visibility of the coin currently being mined and it is successful.
Yes, but they have nothing to prove to anyone - they're already popular and well tested/trusted. CleverMining still has everything to prove. |
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greatwolf
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February 14, 2014, 12:37:25 PM |
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So anyone ran a parallel side-by-side comparison between clevermining and middlecoin?
Also, has vardiff been re-enabled yet?
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cokeman0
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February 14, 2014, 01:02:01 PM |
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So anyone ran a parallel side-by-side comparison between clevermining and middlecoin?
Also, has vardiff been re-enabled yet?
Vardiff not online right now Looking at the data on CleverMine and a stat page for middlecoin, then Clever is in front in btc/mh but in 2 hours, it might change... but so far, i'll stick with Clever... just hoping more will join. |
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pallas
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Black Belt Developer
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February 14, 2014, 01:07:09 PM |
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Vardiff not online right now
Looking at the data on CleverMine and a stat page for middlecoin, then Clever is in front in btc/mh
hmmm currently clevermining states 0.01137, yesterday middlecoin did about 0.013... |
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cokeman0
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February 14, 2014, 01:18:50 PM |
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Vardiff not online right now
Looking at the data on CleverMine and a stat page for middlecoin, then Clever is in front in btc/mh
hmmm currently clevermining states 0.01137, yesterday middlecoin did about 0.013... Last I looked mc was at 0.0109, but hard to compare as the page I uses, are calculated from last payout. |
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