Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
cryptopi
on 03/09/2013, 04:18:33 UTC
As we mine CGB, our CGB balance increases. When checking the CGB price, I discard the top X buy orders of CGB, where X is our balance plus the amount we'd mine in a few minutes. Then the next buy order on the list is the price I use.

The price you use for what specifically? The value of coins on hand when reporting miner proceeds? The value of new coins as they are mined before maturity? The value to compare against other currencies for mining profitability calculations? Please clarify.

I'm guessing, bit it sounds like you are saying that while mining coin A, you decide to keep mining coin A by comparing (every minute?) the price of the buy order for A that is X coins from the top of the buy order list (where X = on hand plus estimated proceeds from several minutes of mining), combined with coin difficulty, to determine if the current coin is better to continue to mine than other coins at their respective price/difficulty, using the same price methodology for the other coins? Is this correct? Also, what price do you use when reporting the freshly mined coin value to miners?