Re: [ANN][VRC] | VeriCoin | PoS - Dynamic Interest | SMS | ANON
There are a lot of questions regarding the pool. We've been tweaking it as it's still in Alpha right now many times and there have been a few bugs that we have fixed. So please-- if this is your income, don't use it.
It is, however, quite profitable over time. It operates differently than other multipools. Instead of paying out every night, we pay out a portion of each block we hit and reserve a portion for the OBA. Instead of daily payouts, we pay out per block. But only if you've earned 1 VRC (sometimes it decides to be less lenient and will pay when 0.2 VRC is earned, for example). Then the payments trickle out over time as the OBA buys when it decides it's a good opportunity-- especially during dumps.
So, If you want a really accurate number for profitability, it's not possible to give you one. But in my experience mining SHA-256 and SCRYPT for a day then stopping, I am getting at least 20% more than mining at TradeMyBit.
It works oddly compared to conventional multipools, but that's how we can buy VRC at good prices.
It is, however, quite profitable over time. It operates differently than other multipools. Instead of paying out every night, we pay out a portion of each block we hit and reserve a portion for the OBA. Instead of daily payouts, we pay out per block. But only if you've earned 1 VRC (sometimes it decides to be less lenient and will pay when 0.2 VRC is earned, for example). Then the payments trickle out over time as the OBA buys when it decides it's a good opportunity-- especially during dumps.
So, If you want a really accurate number for profitability, it's not possible to give you one. But in my experience mining SHA-256 and SCRYPT for a day then stopping, I am getting at least 20% more than mining at TradeMyBit.
It works oddly compared to conventional multipools, but that's how we can buy VRC at good prices.
Cool, thanks for the taking the time to add more details about the pool. What you describe makes sense, but two suggestions for veripool. I understand now it's still in alpha, so no big whoop.
1) Transparency and an audit log... There's no reason to not list what coin is being mined in exchange to vrc. Understood it's dynamic and may change depending on what the profitable coin is at the moment. I would also suggest a global log showing what was traded for what and what was dived up. For all the miners know, the pool earned 500 xcoins, exchanged 400 for vrc, and kept 100 on the side.
2) Post a FAQ and some information on the site, especially that it's in alpha.
Anyway, even though I didn't earn a lot, I'm still interested in vericoin. Good luck with the pool, at the least it was interesting to mess around with.
I mine just to support my favorite coin, I even got my moms laptop pumping via/CPU
