Archive for the ‘General Info’ Category

ltcrabbing-backup-pool-earnings

If you are mining for alternative scrypt cryptos at the moment due to their higher profitability compared to LTC, you are probably already using Multipool or another similar automatic switching pool. We are using Multipool and set one mining rig with four 280X cards on Multipool and have set LTC Rabbit as a backup pool to test instead of WeMineLTC or Coinotron that we usually set as our backup. The idea behind that pool is that you mine for anternative scrypt-based cryptos based on profitability along with LTC and you are directly getting payed in LTC, so this there is no need to transfer the mined alternative coins to an exchange and trade them for LTC. This way you get extra profit than directly mining for LTC. Our idea was to see what you can expect to get when Multipool has issues and they do have and the connection to their pools drops, so the miner goes to the backup pool. The result we’ve got for 24 hours is 0.07 LTC profit at the backup pool and about 1.09 LTC when we exchanged the mined alternative cryptos from Multipool to LTC. So if you do not have a backup pool set it will be a wise idea to do so in your miner (cgminer does support that, CUDAminer does not yet) and do use a different mining pool. Meanwhile we are heading for another drop in LTC difficulty in few hours, so the profitability of alternative cryptos such as DOGE will drop compared to directly mining LTC…

largest-bitcoin-pools-chart

Nowadays Bitcoin is only mined by those who have managed to secure some sort of ASIC mining hardware, because it is pointless to mine BTC with GPU let alone with CPU miners. That is the reason why there are not that many Bitcoin mining pools left and there are a few larger ones that most people are mining in. Below you can see a list of the top Bitcoin mining pools with a short info about each one of them:

GHash.io – 0% mining pool fee, PPLNSG payout system, merged mining NMC/DVC/IXC
Eligius – 0% mining pool fee, CPPSRB payment system, no registration required
BTC Guild – 3% PPLNSG, 7.5% PPS pool fee, merged mining NMC
Discus Fish – Some sort of a large private(?) Chinese pool
Slush – 2% mining pool fee, RBPPS payment system
BitMinter – 1% mining pool fee, PPLNSG payment system

ltcrabbit-mining-pool

LTC Rabbit is an interesting pool for mining scrypt-based crypto coins that does the automatic profitability switching between LTC and a few other crypto currencies for you such as DOGE. What makes this pool different is that it does everything for you automatically and you end up being payed directly in Litecoin and not many different crypto currencies that you need to send back to an exchange and trade them. This pool solves the problem of mining many scrypt cryptos like in Multipool for example, then moving them to an exchange such as Cryptsy, and selling them either automatically or by hand. This method may be a bit more profitable, but is also more time consuming and riskier as the price may drastically change while you wait for your crypto currency to appear on the exchange. LTC Rabbit does everything for you and you end up being paid in LTC directly, regardless of the crypto currency being mined currently, and though this method may be a bit less profitable, it is much easier and safer, especially on the miners that are new and are still getting the hang of things.

LTC Rabbit has a 2% pool fee, and uses PPS (Pay Per Share) payment system with payments being distributed to users every hour respective to the submitted shares by their miners. You get paid for the LTC mining you would normally do in an Litecoin only mining pool plus PPS altcoin bonus on top of your regular earnings, and it all comes in the form on LTC available in your account. The pool has stratum servers in Europe, USA, Asia and Australia, and they are DDoS protected and stable. There is no minimum payout limit, so you can do manual cash out a any time you wish provided that you are ready to pay a 0.002 LTC transaction fee. We have been testing this pool for a while now and are quite satisfied with the results we are getting and it has already replaced our LTC mining pool as a default option instead of having it as a backup. What we would recommend is to give it a try and see if you would also like the ease of use and the profit you get from the pool that is doing everything automatically for you.

For more about the LTC Rabbit Automatic Altcoin Mining Pool with Direct LTC Payout…


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