LacCharts
IntroductionWant to know which pool is the most profitable to mine at? Me too! I have built a program which is capable of mining at multiple pools (for multiple cryptocurrencies, but that is for later) and calculating which one is the most profitable! Here is the catch, it needs a $12,000 computer to mine fast enough to collect a significant amount of data... So, I am crowd-funding my research! (The name LacCharts is derived from my last name: Lacina.)
The OutcomesI figure that there are three possible outcomes to my research:
1. The biggest pools are the most profitable to mine at.
2. Solo mining is the most profitable.
3. Medium-size pools are the most profitable to mine at.
I have a different planned course of action for number 3 than I do for and 2. I will explain below.
The LacCharts AssetI have issued an asset on the NXT Asset Exchange (if you don't like NXT, too bad, it was the easiest decentralized exchange for me to use!) called LacCharts to raise funds for this $12,000 computer. Now, depending on the outcome of my research, this asset will work one of two ways:
1. If medium sized pools are the most profitable, I will keep the computer mining and send up-to-date data to a website. In order to access the data on the website, one must pay $5-$10/month (will accept equal amount of BTC or other cryptos) for access the the data. This will help miners know which pool to mine at during any given moment. 10 of this asset can be turned in for 1 free month of access to the data. 20 can be turned for 2 months, 30 for 3 months, etc. At the current price of NXT, this means that you will be getting a $5-$10 service for only around $3. In this case, I will sell more than the $12,000 worth of the asset to cover the costs of getting the website developed.
2. If large pools or solo mining are the most profitable ways to mine, I will publish the data (in some way), and then buy back the the asset for either it's original price in NXT or 50% or it's price in NXT if it is worth more than $3 USD (the original price of the asset in USD). That way, people are either getting their money back or are gaining money if the price of NXT goes up.
How to Buy the LacCharts AssetIf you aren't a regular user of NXT, you may be wondering how you can purchase this asset. There are two ways: the easy way and the hard way. I will outline both here.
In the easy way, you follow this link:
https://trade.secureae.com/#915040979443062893 Then you create an account on the Secure AE website and fund your account with BTC. The Secure AE will then send you the NXT you can use to purchase the asset.
In the hard way, you download the latest NXT Client from here:
http://nxtra.org/nxt-wallet/ Then you make a NXT account, trade you BTC for NXT at an exchange, send the NXT to your account, then go to the Asset Exchange page, click the "Add Asset" button, then enter in this asset id: 915040979443062893 and hit enter. Finally, you click on the asset on the left of the page and make a "Buy Order." It is much easier to just use the Secure AE if you ask me.
What to do if you get buyers remorse!Lets say you buy 100 of the LacCharts asset, then you begin to have doubts that I will ever raise the $12,000 or maybe you wonder if I will actually follow through with my promises. There is no problem! You can just sell the asset to someone else who doesn't right on the Asset Exchange. Simply make a sell order and place the price just below mine. Someone will likely see an opportunity and buy it cheap from you. Then you get most of your money back. It is as simple as that.
Thank you all for your time and consideration!
