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Showing 14 of 14 results by fahayek
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Board Mining (Altcoins)
Re: [ANN][Pool] HashBros Private Alpha [Multi][Profit Switch][Transparent]
by
fahayek
on 10/01/2014, 17:06:01 UTC
Any update on the BTC/Mh/Day ?

Honestly it's a bit soon to tell - the profit switching algorithm just got implemented a day ago.  I will say it's looking much better today than the first two days I mined.

We are constantly working to improve the profit switching algorithm, as we gather more data. We appreciate your feedback. If you think the algo is sucking, let us know!

That's why you have my hash :-)

I don't think it's sucking, but right now I honestly won't say it's great either.  My benchmark is around .01 btc/1Mhs/day - so I'm looking for about .04 btc/day on my 4.2ish Mhs farm.  That's about .00167 btc per hour.

Last night I pointed all my hash at Lottocoin and woke up with about .017 btc or around .0015 per hour.  9am EST I pointed everything at hashbros and I have 0.00374914 BTC at this moment, and there was about .001 estimated balance there when I started.  So that's .0027 btc over 2.5 hours, or about .001 btc/hr which is about 33% below what I am aiming for.

Having said all that - middlecoin always showed shit results for awhile and then the balance just kind of exploded, so it may be the same here.  Maybe after 24 hours I will get on a steady cycle of maturing coins and see the results I'm looking for - also you'll be adding coins and improving your algorithm over time.

Another point - altcoin profitability sucks across the board right now.

So, I see great improvement over the first 48 hours, and I'm hoping for further improvement.

You can't examine results with that fine of granularity.  There's a certain "luck" aspect involved in mining so you're going to have variance in your payouts.  I think the ABSOLUTE minimum timeframe you can examine is 48 hours; even that might be too small to compare apples to apples.  

I take your point, but it hasn't been my experience.  If I point to WDC, LOT, or PXC and just let me machines run, I get a really steady return.  Like I said, I understand profit switching works differently and middlecoin would often look like a dumpster fire all day only to have a great payout the next morning.

Mikeybit, I agree to an extent. The best we can do is try to make the best decision taking what's given. Right now we are operating almost as if %-change in price is random, and do not try to make predictions. We can however improve our decisions by looking at volume. As we increase our hash power, making predictions will be less important because we will be able to mine faster.

Geocurt, you're right. You can definitely use data to select the N most profitable coins. It is just a matter of picking the best one!
Post
Topic
Board Mining (Altcoins)
Re: [ANN][Pool] HashBros Private Alpha [Multi][Profit Switch][Transparent]
by
fahayek
on 10/01/2014, 16:33:53 UTC
Getting reports from people that the new algorithm is much much better. Around what middlecoin currently scores. Woo!

You guys actually have the benefit of being smaller, easier to dump the small coins.

I'm going to send some hashpower your way after this weekend.

This is true. Even as we grow larger, we will make sure to have a method to be able to sell these coins without moving the market. Appreciate the feedback!
Post
Topic
Board Mining (Altcoins)
Re: [ANN][Pool] HashBros Private Alpha [Multi][Profit Switch][Transparent]
by
fahayek
on 10/01/2014, 16:26:26 UTC
Any update on the BTC/Mh/Day ?

Honestly it's a bit soon to tell - the profit switching algorithm just got implemented a day ago.  I will say it's looking much better today than the first two days I mined.

We are constantly working to improve the profit switching algorithm, as we gather more data. We appreciate your feedback. If you think the algo is sucking, let us know!
Post
Topic
Board Beginners & Help
Re: Bitcoin and Banking
by
fahayek
on 09/01/2014, 17:36:43 UTC
Banks would not destroy the integrity of bitcoin SO LONG as a fractional reserve system is not put in place like the one we have that creates mass credit. Outside of that, banks would be good because it will provide the security consumers would need to adopt it as a currency.
Post
Topic
Board Altcoin Discussion
Re: Altcoin exchanges
by
fahayek
on 09/01/2014, 17:26:53 UTC
Cryptsy
Post
Topic
Board Beginners & Help
Re: The Future of Bitcoin mining
by
fahayek
on 09/01/2014, 17:20:19 UTC
Altcoins will hopefully tame the bitcoin bubble, increase liquidity, and get transactions flowing so people aren't just hording bitcoin for speculative purposes.
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Topic
Board Beginners & Help
Re: Martingale betting system over freebitco.in trough javascript (iMacros)
by
fahayek
on 09/01/2014, 17:14:01 UTC
Expected return using martingale is 0. Try using Kelly criterion, the formula used to beat blackjack, and the stock market.
Post
Topic
Board Beginners & Help
Re: Why do people not put their Bitcoins in Cold Storage?
by
fahayek
on 09/01/2014, 17:07:31 UTC
Hassle and volatility.
Post
Topic
Board Beginners & Help
Re: question about Coinbase
by
fahayek
on 09/01/2014, 16:58:35 UTC
I've had problems confirming my identity even though info is correct. Anyone else with this issue?
Post
Topic
Board Beginners & Help
Re: So whose your favourite economist?
by
fahayek
on 09/01/2014, 16:51:49 UTC
Mises, Menger, Hayek, Knight, Nash, Shiller, Friedman.
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Topic
Board Beginners & Help
Re: Question about altcoins ...
by
fahayek
on 09/01/2014, 16:43:20 UTC
Supply creates its own demand.
Post
Topic
Board Beginners & Help
Re: Are Alt currencies tool to make richer even more rich
by
fahayek
on 09/01/2014, 16:29:19 UTC
Bitcoin without the existence of altcoin, will eventually be owned by only the rich due to the hash paradox. However, altcoins can remedy this as when bitcoin becomes only minable by the super-rich, average people will flee the currency to altcoin, causing bitcoin to depreciate. Eventually, we will see some degree of parity between altcoins and bitcoin, it looks like litecoin will be the first.
Post
Topic
Board Mining (Altcoins)
Re: I would like to mine some alt coins on my CPU
by
fahayek
on 09/01/2014, 16:19:23 UTC
I use CPU miner. Beware, you wont turn much profit (need GPU), but its a good way to get into it.
Post
Topic
Board Beginners & Help
Re: Need Advise On Purchasing Bitcoin Mining Rig
by
fahayek
on 09/01/2014, 16:11:43 UTC
Are you looking to do just bitcoin or altcoin as well?