Longer-term multipool mining (TODO)

[fartbags]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

[sammy007]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

It's always better to mine profitable coin, dump and invest in "promising".

[fartbags]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

It's always better to mine profitable coin, dump and invest in "promising".

HashInvest.net sounds like the exact thing that I'm going for! Too bad it's just a monero mining pool.

I basically don't want to do any research. I want to give my hashing power to an investment firm and have them pay me based on their success 4 months later.


Whether that is mining the highest paying coin and trading for other coins or a combination of that and mining promising coins, I don't care. I want them to do everything for me. I just click mine and let my babies make me money.

[lifeforcepools]

I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins.

This is a pretty tall order and some might say requires a crystal ball - seriously. It boggles my mind sometimes as to which coins get traction and which ones do not.

Some times when it appears the Devs have only invested minimal time the coins take off and others with POD,  concise road maps and the devs are active and adhere to the road maps flounder. Go figure!

I've personally agonized over this question as a pool operator because at least 10 times every day on our chat board I get asked "What's the best coin to mine" and it's the same question I've been asking myself for nearly a year now since I started mining myself.

that's led me to a few conclusions after I took the time to start developing calculations and algorithms to determine "what's the best coin to mine"

1) Conclusion #1 - what's best for people varies with the amount of MH they have to mine with.

2) Timing is everything - the advantage in mining goes to those who are able to respond fastest to changing network hash rates and changes in values

3) There's no such thing as a crystal ball - seriously - I gave up on trying to predict value trends because they can change in an instant - all it takes is one whale to bury a coins value and they typically don't recover quickly from the dump. This is one area where I was able to do A LOT of research and testing because I'm a developer and work with a hedge fund and have access to some of the best trend prediction software available.

4) some times..like in the movie "Risky Business" - you gotta say "WTF - Make your move" and this mean you have to take a chance. Opportunities arise form time to time to mines coin that others have fled for various reasons - most notably "questions as to which fork is the correct fork" and 2) the wallet is locked down on the only or primary exchange for the coin and the devs are unresponsive in getting it fixed and that's when network hash plummets and the coins are easy pickens. It's a roll of the dice but you can stack the deck if you're resourceful.

But the good news is that I haven't given up and have been working on software that will actually help miners pick "the best coin to mine" and so far in it's 'less than fully automated state" it's been working really well for me.

more to follow.

[ocminer]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

Sounds reasonable, which algo(s) do you prefer ?

[majeis]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

Pretty sure that ipominer.com already does this. They don't pay much. Enjoy your mining time there.

Everyone else is in this for the profit.

[ipominer]

I wish someone would take multipool mining seriously and not just mine the highest paying coin. I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins. Then pay out once those coins start succeeding later on. It's a lot of work to figure out which coin to mine for the future. If someone could specialize in this it would be one of the most popular ways to mine. It would take a team of dedicated specialists but it would be a big business.

This would save me so much time. This is what I do myself. I make way more profits mining this way but it takes up a ton of time.

I would accept some pretty high fees if you did really well with which coins you mine with the hashing power.

Pretty sure that ipominer.com already does this. They don't pay much. Enjoy your mining time there.

Everyone else is in this for the profit.

Yes, ipoMiner does all of this.

(Although I disagree with majeis' characterization that "they don't pay much". Our miners have unquestionably made more profit than any other pool or multipool, throughout the year.)

[lifeforcepools]

http://poolpicker.eu/table

I made .0003635365 yesterday and am making it today and I was not using any of the multi pools listed on this page above.

I'm making it right now too mining a coin that I've let my pool members know about on our chat board..

and it's gone down - it was almost twice as much four days ago but if will go back back

being more profitable than the multi pools does require work and research and it takes times.

I've mined on IPOminer and those guys run a great pool much better than any of the other multi pools in my humble opinion.

and just remember - if your multi pool is paying in you in BTC then chances are they're dumping whatever you've mine at high bid price and a lot of times you're giving up 3% to 10% of what you could have sold the coins for yourself.

[ipominer]

http://poolpicker.eu/table

I made .0003635365 yesterday and am making it today and I was not using any of the multi pools listed on this page above.

I'm making it right now too mining a coin that I've let my pool members know about on our chat board..

and it's gone down - it was almost twice as much four days ago but if will go back back

being more profitable than the multi pools does require work and research and it takes times.

I've mined on IPOminer and those guys run a great pool much better than any of the other multi pools in my humble opinion.

and just remember - if your multi pool is paying in you in BTC then chances are they're dumping whatever you've mine at high bid price and a lot of times you're giving up 3% to 10% of what you could have sold the coins for yourself.

One important thing to note is that there's always a question of scale. Opportunities for mining lesser known coins or coins with higher temporary profitability are typically very short-lived, and it isn't possible to scale mining up on them. You can mine them at 10Mh, 100Mh, maybe even 1-2Gh - probably not at much more than that though. Difficulty eventually will increase to the point that they aren't profitable anymore.

And yes, as lifeforcepools says, if your pool is paying out BTC, you're losing additional profit because either they are not selling at optimal times or they're pocketing that increased non-transparent profit.

I've considered expanding ipoMiner (or starting a new service) which would payout in BTC with coins being sold in a managed fashion - but then we're getting into hedge fund type territory, and since scaling is still the primary barrier, the value for the pool operator just isn't there to support the additional time required to do it successfully. I have a few ideas of how to improve/solve that, but I'm not ready to lay all of that out yet