Status as of Wednesday, July 15

[Steve Sokolowski]

Some interesting topics for today:

• Last night, we attempted a release to achieve the following: optimize database share insert performance, eliminate a bug causing lost blocks when a transaction is not included in a block, get POS coins mining, and avoid getting users stuck when a miner doesn't respond to work restart testing.
• Unfortunately, the change was not successful, and we had to revert. There was a problem with jobs not being remembered in memory. After reverting, Chris tried to reproduce the problem all night and was unable to do so. We'll have to take a different approach tonight, which might involve re-releasing this code for five minutes to see if the problem recurs and then reverting again, which will allow us to gather more data.
• Once we are able to get the proof of stake coins being mined, profitability should increase even further - as if 12 cents per day isn't high enough already.
• I am still on track for starting multiple algorithm development during the long weekend of July 29-August 2. I have three vacation days that need to be expended this month, and I figure that the best way to do this would be to stay home, lock the doors, close the blinds, and emerge on Monday with a feature-complete version that mines x11 coins. If I'm able to accomplish that, then I would estimate a release of multiple algorithms one or two weeks before Labor Day.
• There are several other optimizations to improve profits that don't concern most people, so I won't bother going into great detail about them. One involves not selling too many litecoins at exchanges where the market would crash too low. One time this week, nearly the entire c-cex orderbook was wiped out by a single block, which caused a loss of a few tenths of a bitcoin. Chris is testing a fix for that. Another involves not buying and then reselling coins that we are mining during the time it takes for mined blocks to confirm.

[rootdude]

FYI - Litecoin is best traded at BTC-E or OKCoin... the order books there are very deep.

I'm hoping the new payout rates will become the 'new normal' at least until the halvening. Keeping fingers crossed!

[Chris Sokolowski]

I'm hoping the new payout rates will become the 'new normal' at least until the halvening. Keeping fingers crossed!

If no progress is mode with the Bitcoin 1MB limit, which is likely, then the payouts rates will probably stay constant. We didn't expect that in mid 2015 our Zeusminers Thunder X3s would still be profitable (that is, only if it's cold enough to open the windows; if we have to run the air conditioner, we have to turn them off).

[rootdude]

I'm hoping the new payout rates will become the 'new normal' at least until the halvening. Keeping fingers crossed!

If no progress is mode with the Bitcoin 1MB limit, which is likely, then the payouts rates will probably stay constant. We didn't expect that in mid 2015 our Zeusminers Thunder X3s would still be profitable (that is, only if it's cold enough to open the windows; if we have to run the air conditioner, we have to turn them off).

Hey Chris! Hope all is well - thanks for all the hard work lately - we really appreciate it!

I agree - the cluster-f that is Bitcoin ATM is allowing an opening for Scrypt and Alts to gain some ground. Quite a few people waffling on putting all their eggs into one basket, so to speak. DOGE is also on people's radar screen as a store of value coming from BTC because it's like a behemoth, doesn't move much either way on price - actually one of the most stable alts the last six months.

There's no rigs on the horizon more efficient than the Titan, FWIW, (even the SFARDS units are the same J/MH) so there's plenty of time for the efficient rigs to stay at the top of the food chain...

[Chris Sokolowski]

I laugh that the day after I posted my reply that profitability would stay high, the Litecoin market declines again. There's a good reason I let the automated software do the trading and not trust my intuitions.

[kires]

Yeah, intuition is great- but it's no match for statistically significant data in conjunction with solid analytical reasoning.

[rootdude]

I laugh that the day after I posted my reply that profitability would stay high, the Litecoin market declines again. There's a good reason I let the automated software do the trading and not trust my intuitions.

I think we are at or near where things will settle for the next 35 days or so (.0003 and change). I don't trade much myself - only because I never go to the trade table with enough coin to thrown around my weight (which is almost a requirement these days).