Guys, what's all this fuss about auto switching? Current profitability goes up and down all the time. I've seen some coins climb to #1 on wtm for a bit, lets say an hour or two then they drop to #34.
Lets say you switch immidietly to mine that coin. Unless you cash out immidietly, you will end up with less overal profit over period of time compared to sticking to well known and well mined coins like eth or zec, just to name a few.
Now, lets say you you mined for an hour or two on the most profitable coin then you transferred to your wallet. This creates tons of micropayments. When you try to cashout your profits you get hammered with huge tx fee because you have to combine all those micropayments into one. The tx fee is charged by kb, more micropayments = more kb = more tx fee.
I've seen people complaining that they get 40, 60, even 85% tx fee when they transfer those micropayments because they use lots of kb.
If you don't immidietly transfer whatever you mined to make instant profit while the coin was up and keep it at the pool, waiting to accumulate more before transferring to your wallet so you can avoid the micropayments, then what's the point of switching? Just choose one or two coins and stick to them.
I don't know, maybe I didn't do my homework well, maybe I am missing some critical info or I just can't see the big picture here... anyone cares to explain and enlighten me please.
I agree with you on mining the coins that just get to top with a huge price bump or even huge difficulty drops and drop to bottom in next 5 minutes.
What I'm saying is setting 3-4 coins which are usually profitable like zen, zec, zcl and switch between when they drop their difficulty.
They dont get price bump usually and only raise profit when their difficulty drops.
That way you will get the most shares from them. and you dont need to cash them quickly and pay the tx fee.
and I would also add that differences materialize with scale. Its not the same strategy 30 cards vs 90 cards vs 270 cards
with 30 cards, not much effect in switching, I would stay with nicehash and potentially switch within there once a few days (say to catch monero when it popped for a week),with 90 cards, you have enough scale to realize gains while a coin pops (and we're still talking top 4-5 fave here) and finally 270-300+ cards you can afford to assign your miners to your favourite 4-5 coins with enough scale for each to mine them consistently.