Question about pool

[Aetsen]

I was wondering what coins the pool mines. I saw it says scrypt. I was wondering so I could figure out my hash rate. I have 1 R9 390X, 11 R9 390's and 2 R9 270X. With Ethereum I am getting about 350-400 MH/s I am trying to figure out what hash rate I would get on your pool to see if it would be better to mine here or to stick with what I am doing currently. Thanks for the help.

[Chris Sokolowski]

Hi and thanks for visiting. We mine 155 different scrypt based coins and switch coins based on which is the most profitable at any given time.

However, if you're using GPUs, then unfortunately you will lose money mining at this pool or any other scrypt pool; you won't even make back enough money to pay for the electricity. The scrypt market has moved onto specialized ASICs that are orders of magnitude more efficient than GPUs at mining.

The best coin to mine with a GPU right now is Ethereum, and if you already have configured the miners to hash Ethereum, then I would continue doing that until you can't make money anymore. Then maybe consider some of the other smaller algorithms like X11/X13/X15 to mine with a GPU, but SHA-256 and scrypt will never be profitable to mine with GPUs.

I hope this information helps.

[isamamin]

actually i have the same question, but now i want to ask one more question, do you think we can get profit if we rent Mega hash from
rig renting providers?
Thank you

[Steve Sokolowski]

actually i have the same question, but now i want to ask one more question, do you think we can get profit if we rent Mega hash from
rig renting providers?
Thank you

That depends on the circumstances. In general, when mining is far more profitable than litecoins (like it is today for an unknown reason), then renting hashrate can result in huge profit. During other times, it can result in losses.

The rate for hashrate from providers like Nicehash tends to be constant, while profitability fluctuates. The problem is that even if you rent hashrate now, we have no idea why all the coins have become so profitable all of a sudden and because of that, profitability could suddenly drop for no reason at any time. Do so at your own risk.

[Steve Sokolowski]

actually i have the same question, but now i want to ask one more question, do you think we can get profit if we rent Mega hash from
rig renting providers?
Thank you

That depends on the circumstances. In general, when mining is far more profitable than litecoins (like it is today for an unknown reason), then renting hashrate can result in huge profit. During other times, it can result in losses.

The rate for hashrate from providers like Nicehash tends to be constant, while profitability fluctuates. The problem is that even if you rent hashrate now, we have no idea why all the coins have become so profitable all of a sudden and because of that, profitability could suddenly drop for no reason at any time. Do so at your own risk.

I replied with another post to point out that it seems almost as if some large miner switched all its hashrate to litecoins. LTC is near all-time lows of profitability, and difficulty just skyrocketed. If that miner was mining these other coins, that might explain why profitability just went up and LTC has more hashrate now.

[isamamin]

This very clear today, seem like real business man start playing with alt-coins, even trading, that's why the coins dropped.

[excelerator]

actually i have the same question, but now i want to ask one more question, do you think we can get profit if we rent Mega hash from
rig renting providers?
Thank you

That depends on the circumstances. In general, when mining is far more profitable than litecoins (like it is today for an unknown reason), then renting hashrate can result in huge profit. During other times, it can result in losses.

The rate for hashrate from providers like Nicehash tends to be constant, while profitability fluctuates. The problem is that even if you rent hashrate now, we have no idea why all the coins have become so profitable all of a sudden and because of that, profitability could suddenly drop for no reason at any time. Do so at your own risk.

I replied with another post to point out that it seems almost as if some large miner switched all its hashrate to litecoins. LTC is near all-time lows of profitability, and difficulty just skyrocketed. If that miner was mining these other coins, that might explain why profitability just went up and LTC has more hashrate now.

Do you have a link you can share to show this skyrocketing? I use bitcoinwisdom to monitor and perhaps their data is further behind than your source as this shows difficulty just coming back to the July 13th level and not particularly spikey.
https://bitcoinwisdom.com/litecoin/difficulty

[Steve Sokolowski]

That depends on the circumstances. In general, when mining is far more profitable than litecoins (like it is today for an unknown reason), then renting hashrate can result in huge profit. During other times, it can result in losses.

The rate for hashrate from providers like Nicehash tends to be constant, while profitability fluctuates. The problem is that even if you rent hashrate now, we have no idea why all the coins have become so profitable all of a sudden and because of that, profitability could suddenly drop for no reason at any time. Do so at your own risk.

I replied with another post to point out that it seems almost as if some large miner switched all its hashrate to litecoins. LTC is near all-time lows of profitability, and difficulty just skyrocketed. If that miner was mining these other coins, that might explain why profitability just went up and LTC has more hashrate now.

Do you have a link you can share to show this skyrocketing? I use bitcoinwisdom to monitor and perhaps their data is further behind than your source as this shows difficulty just coming back to the July 13th level and not particularly spikey.
https://bitcoinwisdom.com/litecoin/difficulty

Litecoin difficulty fell for some reason over the past few days, and now it returned to 51,700, which is generally towards the top of the 40,000 to 50,000 range that it's been at.

I did some research and it looks like the reason for the current spike is a Bitmark bubble. Look at the chart at Bittrex for Bitmarks.

This is the second altcoin bubble in just two weeks. These things used to happen once every few months. I think that people are getting annoyed at the high fees of bitcoin and are searching for an alternative. I think I mentioned that this would happen in a blog post about a year ago - at some point, there would be a string of bubbles of one coin after another as people recognized that bitcoin wasn't serving their needs.

While I would prefer that bitcoin actually fix itself, as a result of this, we can all make tons of profit. Even though it's very hot at 85 degrees, we will still turn our miners on if profitability rises above 12 cents.

[CritterDog]

actually i have the same question, but now i want to ask one more question, do you think we can get profit if we rent Mega hash from
rig renting providers?
Thank you

That depends on the circumstances. In general, when mining is far more profitable than litecoins (like it is today for an unknown reason), then renting hashrate can result in huge profit. During other times, it can result in losses.

The rate for hashrate from providers like Nicehash tends to be constant, while profitability fluctuates. The problem is that even if you rent hashrate now, we have no idea why all the coins have become so profitable all of a sudden and because of that, profitability could suddenly drop for no reason at any time. Do so at your own risk.

I replied with another post to point out that it seems almost as if some large miner switched all its hashrate to litecoins. LTC is near all-time lows of profitability, and difficulty just skyrocketed. If that miner was mining these other coins, that might explain why profitability just went up and LTC has more hashrate now.

The rise in litecoin difficulty may be the result of this brand new script miner just released.
http://www.innosilicon.com/html/news/11.html

[excelerator]

I replied with another post to point out that it seems almost as if some large miner switched all its hashrate to litecoins. LTC is near all-time lows of profitability, and difficulty just skyrocketed. If that miner was mining these other coins, that might explain why profitability just went up and LTC has more hashrate now.

The rise in litecoin difficulty may be the result of this brand new script miner just released.
http://www.innosilicon.com/html/news/11.html

If that machine was released I'd buy it! The expected ship date for this mythical unit is August or September from the discussion here
https://bitcointalk.org/index.php?topic=1523298.0;all
I'm amazed that people continue to buy pre-orders after all of the problems in the past. There's about ~21GH of pre-order out right now. No indication in the LTC network hashrate to make one believe that the customer's pre-order machines are built and hashing away in a Chinese DC collecting dust in the fans.

I was looking at the trailing month LTC difficulty and it seems to average around 55,000 so it's coming back to where it was this winter/spring.
https://bitcoinwisdom.com/assets/diffic ... 1468797611