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.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.
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.
I agree, if you monitor difficulty and switch to mine the coin that dropped difficulty then yes, you are not cashing out immidietly, you don't create micropayments, you get more shares, obviously it's a win situation. But... is this the case with the current implemenation or is it just checking which coin is on top (price wise) which doesn't mean it is on top because of low difficulty (maybe a speculation, etc).
They do get top 24 Hour, 3 day or a week top when price jump.
Check this screen shot, Mona, signatum and orbit has not gain price , but dropped difficulty.
Thats why they get to top current benefit.
Lower difficulty = more share
https://www.dropbox.com/s/uuwanq1zpyxz15q/Screenshot%202017-09-22%2020.47.46.png
But Zec price raised and gain 24, 3 day and a week profitability and not current profit.
Price spike usually comes with higher difficulty.
https://www.dropbox.com/s/geo2slz78enqhz0/Screenshot%202017-09-22%2020.53.45.png
So if we want more share and more profit we gotta go for top current Rev BTC in the switch
Am I right or I'm missing some thing ?