Post
Topic
Board Pools (Altcoins)
Re: [ANN][POOL] Profit switching pool - wafflepool.com
by
poolwaffle
on 21/04/2014, 15:09:15 UTC
Payouts would still be done at the normal timings (2x daily).  We wouldn't be offering to exchange coins into anything other than BTC, just offering to send out coins we had mined (and possibly only a subset of the actively mining coins) instead of exchanging them to BTC first.  For this example, lets say we added payouts in LTC.

Let me be more specific.

If I'd be paid in some specific coins then:

a) either you'll sell it
b) either I'll be selling it
c) I'll keep the coins

Obviously I am for option b). And if that's the option - then I am interested in:

a) get coins as soon as they are mature (and not twice a daily)
b) I want to know what was the target price your switcher decided they are worth mining - as I don't want to sell them under that target price - otherwise it is pointless that your switcher choosed the coin - and I sold them cheap (i.e. under the target price).

Was I clear enough?

I understand.  However:
a) Most likely not going to happen.  Don't think its really feasible due to the fees required sending small amounts of extremely new coins to hundreds/thousands of users, we'd ask to send you 1 coin, and we'd be paying half of that in fees.  Obviously that depends on hashrate somewhat, but its a very high amount typically.
b) This doesn't really make sense.  All that matters is the price at the time that you get them (and even that doesn't really matter).  When you get the coins, either you'll decide to hold them for a time period because you think the price is going to go up, or you'll decide to sell them immediately because you think the price will go down.  What the switcher decided doesn't matter, the coins are already mined and is essentially a sunk-cost.  You decide if you think price is going up or down, and make a decision based on that, and that alone.