CIG - Can you expand on what you're thinking? There are lots of possibilities to keep clevermining out of mining NLG, problem is none of them are profitable. Although some techniques could help minimize an NLG miner's losses. Are you thinking about a trading bot that would monitor NLG difficulty and sell NLG when necessary to keep the bittrex price just below clevermining's profitability threshold to mine NLG? that would be pretty ambitious considering how quickly the difficulty swings.
If you want a place where you can see for each block solved by clevermining, the difficulty of that block along with the highest bittrex NLG buy rate and quantity at the time the block was solved, that's probably easy enough to host at nlgstats. let me know how you'd want it presented I can whip something up. It would be interesting to try and figure out if clever compares NLG profitability strictly to LTC profitability when making a decision to mine NLG, or also the other alt-coins they are targeting. I assume the latter. The better we reverse engineer clevermining the better we can design an approach to minimize their impact to the coin.
You 're right. Mining isn't profitable. And still it's very important we keep mining. I see possibilities to get close to break-even. All well known hashrentals are offering API's. It's a matter of smart hiring hashpower: at the right time for the lowest price. The right time is when the diff trends to drop below the point where Clever jumps in. The lowest hiring price doesn't need explanation. If we succeed in preventing the diff dropping to low, then we got a double-edged sword. A drop in the diff is always followed by a spike. Thus if we level out the drops, we level out the spikes. Since the dedicated miners are mining the spikes, it is easier (meaning with less power) to mine the spikes. Because Clever is mining only when it's profitable and if we mine just above that point, we can get close to break-even.
The price on Bittrex is an important variable. It determines at what diff Clever jumps in. I don't believe in price manipulation on Bittrex. Although it helps if the marketprice is low, in the long run the market trend always wins.
I'm not a programmer. Thus I need help on automating the smart hashpower buying. I figured out some game rules. I can explain that to the developer of the bot. An important variable is the difficulty level at which Clever jumps in. Fantastic if you can work on that Markanth.
Understood.. definitely an interesting idea to discuss. thanks for the clarification. It's good of you to try and help those who are mining at a loss to keep the block gaps low. My humble point of view: Whether someone is adding a little more hashing power to keep the difficulty just above clever's mining threshold, or someone is selling a few pennies worth of NLG on bittrex to keep the price just below clever's mining threshold, it's essentially accomplishing the same thing.. keeping clever out, thus creating a fair playing field for the dedicated miners. So do we call this difficulty manipulation and everyone gets upset?
eventually the person renting the hashing power is going to be selling that newly acquired NLG anyway to cover the hashrate rental costs.
A software program that will dynamically keep the balance of NLG price to hashrate ratio just above where clever would jump in by adding additional hashrate to the network is interesting. I'm not sure how responsive and accurate these mining rental apis are.. Other potential factors:
- The amount of hashing clever has at it's disposal This changes over time.
- The price to hashrate ratio of other alt-coins clever is jumping in and out of.
- The price of hashrate rentals
I'm on holiday with the family presently, but expect a 'clever watcher' tab at nlgstats over the next few weeks that will attempt to track exactly under which circumstances clevermining will jump in at.. Hope to have the info available by the time the simulator is released so this could help simulate a jump pool's behavior. I'll try to record:
- difficulty of block clever solves
- highest buy on bittrex (let me know if this is best)
- network hashrate as reported on guldenpool.nl? (is there an api for this? I think so)
- clever's total hashrate (published hourly, may have to webscrape this one)
- a few litecoin profitability stats for comparison (anyone have a good source for this?)
