Re: [ANN] Zimstake (ZS) - NOW PURE POS - No IPO / PreMine - SHA-256 New Wallet
re: multipool
i don't have hashing power, but i'll consider donating BTC. i'm also looking to see who wants to mine on it. and more importantly, who is providing exactly how much hashing power guaranteed. running your own multipool is hard because you actually have to have enough hash power to find blocks. if you're not finding blocks it's a giant moneysink. profit-switching relies on pretty frequent blocks being found, as the coin could be changed every 15 minutes. if you didn't find a block for whatever coin it's mining in those 15 minutes, then it's pointless.
i'd say at least a gigahash scrypt should be what we're aiming for, if we can't consider that a realistic goal, then we might be premature with this idea. we need heavy-hitter miners to make it work.
i don't have hashing power, but i'll consider donating BTC. i'm also looking to see who wants to mine on it. and more importantly, who is providing exactly how much hashing power guaranteed. running your own multipool is hard because you actually have to have enough hash power to find blocks. if you're not finding blocks it's a giant moneysink. profit-switching relies on pretty frequent blocks being found, as the coin could be changed every 15 minutes. if you didn't find a block for whatever coin it's mining in those 15 minutes, then it's pointless.
i'd say at least a gigahash scrypt should be what we're aiming for, if we can't consider that a realistic goal, then we might be premature with this idea. we need heavy-hitter miners to make it work.
Hey djslick,
These are all great points. In regards to the maintenance of the pool, that's something that we at chunky would take care of ourselves. In regards to profit switching, we use our own custom in house metrics. We've been mining and trading for a long time, and in my own experience I've found it's much more profitable to switch once or twice per day only. Price fluctuations as well as network fluctuations are common.
We maximize our returns to our users by employing two principal tactics:
1. Ensuring no hashes are wasted.
2. Avoiding dumps on the alts mined wherever possible. We generally list as sell orders rather than use the buy column.
#2 gives you the added benefit of reducing any potential negative impact on other coin communities. These methods for running a multipool actually wind up making is to that the alts being mined are granted an easy rise in price and added volume on their exchanges, while giving buy support and volume for your own coin.
For choosing what coins we mine, we factor in a few things:
1. Exchange volume: Are people actually buying the coins we mine? Often the top profitable coins on coinwarz have no buyers.
2. Network difficulty: block times are a serious issue. If we're not going to find a block within 6 hours, then daily returns can be severely impacted.
3. Market Depth: If we're forced to dump (IE, a coin we're mining is on a downtrend), will the end of our dump significantly impact the price?
4. Actual returns: Is the current price of the coin along with its difficulty in line with good average returns?
The community co-mining aspect is also what addresses the "getting started" issue. We already have 475 MH on our community multipools right now, and our unique coding allows for your community's hash to be combined with what's already being mined by our other users.
1 GH is an excellent target and would have a significant impact on markets. 1 GH is also enough to mine very high difficulty coins.
All the best,
Chris
All of the above looks good. I have a technical question for ya, though it don't require a technical answer. On coins where it's possible, do you have merged mining? It seems to me that doing so would increase the profits by a decent amount.
Hey, yeah for the very technical answers I'll need to consult my senior dev. But luckily for me in this case this is a question I've gotten before
Merged mining is possible for our software but generally we only employ it when the community pools go above 1 GH. What we can do is direct the amount of workers we have to different coins. Splitting 1 worker's hash across many coins is something we've worried is risky for record keeping purposes. So our merged mining works like so:
Let's say we have 300 workers and 1 GH on the community scrypt ports, and we're showing 2 coins with nearly identical profitability numbers. One coin has high difficulty, the other lower. In that case, we'll point 250 of the workers to the high difficulty coin, and 50 to the lower difficulty.
Then everyone mines into one pot while their hashes are accurately recorded, and all users split the difference having worked together. Basically, we're recording everyone's hashes as accurately as possible, and then averaging out everyone's returns in the database after the fact.
All the best,
Chris