Post
Topic
Board Pools (Altcoins)
Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com
by
ghur
on 05/05/2014, 15:50:32 UTC

You must be new here.   I post this idea not because it's necessarily 'correct' (Although, it is) but because having that little percentage thing never go below 100% would stop the endless tirade of posts in this thread about "HOW ARE WE UNDERZ 100%!!! TERK IS STEALING" etc etc etc.

Clearly Terk is not stealing, there is more money to be made keeping this pool alive over the long term then there is with any sort of short sighted behavior such as stealing.

My point is that little percentage on the website is supposed to represent what this pool brings in when compared to just mining straight LTC.  Well it seems, regardless of the number of blocks found in a day, if you are mining LTC, then you are mining at 100% of what mining LTC would bring in.  Understand my point?  Because of variance there is no way to ever know what 100% this or 80% that is with crypto... You just go with what you got.  And if what you got is 6 blocks over a 24 hours period, that's 100% of what you brought in.

So you think it would be ok to just make up a number and call it 100% LTC?

So in a given day, 100% LTC on clevermining gives 0.00320 BTC/day,
100% LTC on pool Y gives 0.00400 BTC/day and 100% LTC on pool Z gives 0.00250 BTC/day?


It's not a made up number. It's a calculated value.
Variance causes the actual result to vary around that value, but if all variables stay the same and the sample size becomes large enough, you will see that the actual result will trend really close to the calculated value.

Think of mining as a lottery and more hashrate gets you more tickets. Having more tickets makes you more likely to win, but unless you have all tickets, you're not guaranteed to win.