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February 20, 2014, 09:56:21 PM Last edit: February 21, 2014, 04:41:10 AM by JBrace1990 |
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I'm wondering if anyone would be interested in a profit switching pool that is manually driven, instead of automatically?
The way a normal multipool works is this: 1. Calculate the current ratio to BTC 2. Switch mining to what is currently the highest calculated in 1 3. Repeat every X minutes.
The main issues with this are usually the following: 1. High reject rates - this may vary based off of the pool, but because profit switching is done so often, there are a lot of rejects. 2. It is a point in time system - this means that when the miners switch, they only mine what is currently the most expensive. This also means that mined coins are ALWAYS on exchanges, which means higher profits for today, but way less for one, two, even 3-4 weeks from now.
My idea is the following: build a pool who has a team of seasoned Scrypt miners behind it. Those who follow new coins, know the general flow of the market and who will invest in new coins when they see opportunity.
This would generally mean that assets can not be pulled out of the pool immediately, but would result in higher BTC amounts on a per user basis.
Ideally, this system would have something like a 5% fee and a system to convert the mined altcoins to BTC at the time of the withdraw request. Because of the human nature of this, things would not be instant, however the amount of BTC drawn at a single MH/s would potentially be much larger than normal.
Any ideas or questions? And would anyone be interested in a scrypt mining pool as mentioned above?
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