Quote from: flound1129 on September 04, 2013, 08:30:26 PM

Quote from: TheFuneral on September 04, 2013, 08:10:41 PM

Quote from: lastbit on September 04, 2013, 06:05:39 PM

I've started using this pool, with multiport, a few days ago. I'm hashing with a little more than 8Mh/s. Profit snapshot is showing me around 0.12btc/day, for example right now it's 0.1132btc/24h. Value is more or less confirmed by the amount exchanged at Cryptsy. But dustcoin is showing me that I should get 0.16 btc/day for litecoin, value which is conform to some other miners I have pointed to a litecoin pool.
25% less on multiport compared to mining litecoin only on another pool.
Any ideas?

I noticed this issue and stopped mining here. My post was never responded too, but my guess is it has to do with the fluctuating prices in the altcoins we mine. I'm still waiting for the feature to pick which coins you wanna mine profit wise, but I don't think it's coming anytime soon. I think between the orphans, fast-changing jumping, and fluctuating prices you end up losing instead of winning at this point.

A few points.

1) The profit snapshot is just that, a snapshot. If the coins have dropped in value since being mined, the snapshot will show a lower value (even if you were able to sell the coins at a higher value before they dropped). To get prices closest to the value when being mined, use auto withdraw and auto sell.
2) With middlecoin and multipool there is now over 2GH hopping between coins. Middlecoin and many Multipool users sell everything they mine immediately, which normally results in a sharp drop of the coin price, and then a recovery a few hours later as more buy orders come in. Or, sometimes not.
3) With the fast coins like DGC and WDC, I think that the profitability is still not even as high as calculated due to the Multipool/Middlecoin effect. In fact it may be much lower. I'm working on some changes in stratum to help mitigate this, and also when WDC hits 600,000 blocks soon, the changes that the WDC devs made will take effect, and that should dramatically improve the situtation with WDC.

My personal view is that 95% of these coins are on a downward spiral to 0 value. Speculating may make you some money in the short term, but long term it's better to mine and sell, mine and sell.

First, thanks for the answer.
Like the TheFuneral said, orphans, too often commute, and I might add too much stales of some coins, kill all the potential benefits.
I have doubts 10 or 15 minutes a day in some coins have much value if at all.

lastbit

Posts

Merits