I'm curious about the big picture of how this mining pool works. Is it mining other coins and then converting the reward from the other coins into SILK and sending them to your wallet?
If so, that's friggin' cool!
It creates some consistent commerce/buy orders, adding some amount of adoption to the economy.
Well done!
Yep it sure does. All coins we mine are sold then we use that btc to buy Silk. The big picture is to use the pool to put buy pressure on the price.
We are mining coins from 3 different algorithms so anyone can get in. If you have sha256 asic or scrypt asic or GPU you can mine silk. The pool creates a secure public hash you use to mine with. This hash tracks your shares on the server, so once I send the silk to the pool it self distributes the coins to the miners wallets. The pool doesn't hold coins longer than to send them to miners.
Still doing tweaks.
Here are the coins we mine, coins are exchanged at least once per day. If I am not busy I do it as often as I can, so payments come a few times per day.
Sha256
BTC, ppc,TEK, Cure
Scrypt
Anon -
EAC -
FTC -
HBN -
MEC -
NAUT -
NET -
NVC -
POT -
RZR -
X11 -
crypt -
drk -
frac -
uro -
karm -
cyc -
Yeah, the live stats are just for piece of mind. I don't really care as long as the shares aren't being lost. For the scrypt switching, you can't try to have it keep up with profits real-time. It's way too fast. Multipool.us mines for a minimum of 15 minutes before switching.
I was going to see If we can keep the hashrate on the coin until we find a block. But then we might be mining at less profit. Either way I feel like the scrypt coins switch too often.
My next tweak is going to swap some of the scrypt coins for sha256 and x11. To try and slow the switch, without having to edit the switch aglo.
This switch algo also chases difficulty, maybe thats moving things too fast.