Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com

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.

Exactly. If we just say that it was 100%, people will get even more confused if they compare it to straight LTC profitability BTC/MHs/Day. We can't make up that number, because that would be faking stats. Even if the trend is really close to the calculated value, it still won't be exact.
Why should we even change it? I think all Terk needs to change is add a FAQ to include all these explanations.

Everything you guys are saying is correct, and you all are missing my point.

My point is to change the way the percentage is calculated to represent the SITE's percentage vs just showing what the percentage is compared to the mathematically perfect situation of getting our number of LTC blocks per day when we factor our pools hash rate vs the global hash rate vs the 2.5 minute estimated time per block etc etc...

While statistically everything you guys are bringing up is correct, all it does is confuse the young un's. If clevermining is mining LTC, then the pool is averaging it's own 100% return on LTC. This isn't the global figure you have mentioned in messages above (which is correct, in it's own way), this is the site's percentage. That's what I'm getting at. Then the swings in percentage would be based on that return but averaging in the ups or downs of actual alt coins besides LTC.