You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.
Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.
Wait, so the automatic mode is a multipool with more coins? I was under the impression it just meant it would mine either LTC or DOGE, depending on which was more profitable at the time.
If you choose the BTC mode, then they mine the most profitable scrypt coins on your behalf and then each day they send you that as a BTC payment.
But it works a bit like a multipool, in that they mine those coins and then each day will convert it to BTC and then send you that as a payment.
Then you have options to choose if you just want to mine Doge, LTC, Auroracoin, FTC etc and you can assign your hash to each. So for example I could choose to have 300khash on Doge, 200khash on LTC and then the rest on Auroracoin for example. Whatever suits a person best really.
More info about coins etc that will be added in this interview.
http://www.cryptoarticles.com/crypto-news/2014/5/18/genesis-mining-start-mining-for-as-low-as-14-cents-per-kilohash-bitcoin-2014-interview#Thank you for clarifying this IanFoxley! It's in fact a 3rd generation multipool! I found a picture from a talk of our CEO given at the Amsterdam Bitcoinference 2 months ago that briefly shows the idea behind the system:
As you can see we are using portfolio optimization and advanced trading algorithms to mine the most profitable altcoin portfolio every time and liquidate it for best prices and execution time to bitcoin.
Since the past 2 weeks a lot has improved and we are launching the same automine and autotrade functionality for Litecoin and Dogecoin as payout as well. In these scenarios you will mine the most profitable portfolio of altcoins and liquidate it to Litecoin or Dogecoin respectively.
We will soon explain this in more detail since there are tutorials coming soon on the homepage! Stay tuned!
