Quote from: Brexei on April 11, 2018, 06:27:02 AM

I have a question now:
How does winminer exchange/sell the coins we are mining? Is it selling them real-time? Is it holding them and exchange when it is better?
I got this question because lately i am looking at the earnings vs the coins price at the current moment/day and i can't figure out how winminer is reporting earnings. For example yesterday UBQ coin went up by 40-60 % and stayed there for a few hours, while at the same time winminer was mining it for almost the same price as the previous day!! And finally my daily earnings were lower than the previous day!! So i am wondering.... is it selling the coins at a suggested or expected price and keep a safe margin for them?
Does anyone have a clue about all these? Maybe this is why other miners get a 20% higher income, compared to winminer.
Thanks.

Thanks for bringing up this question - It is a great opportunity to elaborate on what is happening behind the scenes in the WinMiner operation, and believe us, there is no dull moment there....

The first thing that is important to understand is that WinMiner is an ambitious project that aims at making the mining experience as efficient and as simple to enjoy as possible.
Mining, exchanging and turning to fiat is not that simple at all, there is no manual to it, it does not necessarily work as one can anticipate, exchanges and other partners get hacked or go on long maintenance periods every now and then, to name a few of the hurdles needed to be addressed...

WinMiner seamlessly does all of the following for its users -

- Optimize the mining process on users machines
- Operate pools for all the mined coins
- Provide a real time estimate for the value of the mined work
- Auto hedge mining profits (in USD) for WinMiner users - so that their balance does not shrink when BTC does (which happens quiet alot lately in services that use BTC as balance currency)
- Collect the mined coins
- Hedge mined coin price for coins that take hours for their maturity e.g. ZEN
- Manage multiple accounts with different exchanges and exchange mined coins into BTC
- Exchange BTC into USD
- Allow for withdrawal at any time (once a very low min balance is achieved)
- Support and maintain a wide selection of withdrawal methods

there is more, but you get the drift..

Now on top of all the above lets look at a couple of the things that can go wrong, and they very often do so -
(1) Mining an "uncle" - sometimes the block reward for mining comes up, according to the coin protocol, considerably smaller than a standard block - that means lower mining return - e.g. ETH, ETC, UBQ etc..
(2) Some coins take a long time to mature - e.g. ZEN, ZEC - it could be several hours until the block is recieved. During that time prices may go up or down and no sale can be made..
(3) Some coins can not be sold for a long period of time - e.g. the leading exchange for ETN was on a very long (weeks) maintenance for that coin which poses a huge price exposure
(4) Hacker attacks on our platform (which happen a lot lately..)
(5) Artificial manipulation of coin mining difficulty and other attacks such as self mining (this deserves a separate post..) which may create a sharp misfit between estimated reward and value of work
and believe us there are much more...

All the above is to say, that we work very hard to make our users' life very easy and to offer a service with features like no other. We are committed to keep on doing that for you all, though we can not do magic - we can not overcome all the hurdles the crypto space throws at miners, hedge balances offer multiple withdrawals in USD and crypto and still match a theoretical number coming from a mining profitability calculator that sometimes uses not the most updated market data and always assume a frictionless perfect world.

A final comments:

When you do comparisons - make sure you compare apples to apples (e.g. is your balance hedged against BTC price drop? is USD withdrawals offered or is it only BTC? can you withdraw anytime? what is the min. withdrawal amount? how many withdrawal options you have, etc.).

We want your feedback
winminers,
We would really like to know if you be interested in a 100% crypto WinMiner type service (balance in BTC, withdrawals only in crypto) if it offered higher estimated returns (by giving up the hedging and USD withdrawal methods)?
Let your voice be heard!
Team WinMiner