My Own Mining Pool

Yes I’m frustrated again…

It seems like common sense to me that there should be a mining pool that you point your hash power to, magic happens and you get paid.

Magic? Well the pool could monitor the best mining conditions, taking into account the difficulty/block reward/exchange rates, and send work for the most profitable coin to the miner. The coins are mined and traded for a desired payout currency that’s sent to the miner. i.e. the Miner could mine the X11 protocol and the pool would send work for the most profitable x11 coin, exchange the mined coins and trade them then pay back the miner in Bitcoin or some other Altcoin…

This is the definition of a multi-pool, and they supposedly exist, so why am I frustrated?

  1. I had a terrible time finding any.
    1. There are some lists of multi-pools, but most of the sites are down/gone.
    2. Some you’ll find still working are so unpopular that the reward rate is very low.
    3. The websites/directions etc. aren’t in English. Shame on me for not being fluent in all the languages of the world.
  2. I found
    1. Does everything I want
    2. Popular enough to pay miners regularly
    3. The stratum server drops my connection like clock work every 2 hours 20 minutes and I have to restart all my miners to get reconnected again.

The next best offering is a service where you sell your hashing power to people who want to boost their own or don’t want to own/manage mining hardware. The multi-pool in this case points your hardware to the mining the buyer wants done and you are paid part of the fee they charge to the buyer.

Hands down the best site for selling your hashing power is NiceHash, reliable connections, active market place, profitable mining. A few months ago NiceHash was hacked someone stole 4700+ coins from the wallet they pay miners from. Seriously… the story is that an employee had their laptop stolen and this laptop had the keys to the NiceHash kingdom. How can you operate a business in this day and age without safe guards for this kind of thing? I work for a company with 30,000+ world wide employees and we can shut out an employees laptop and access to everything in seconds should they call into the help desk and report stolen hardware.

Let’s set the numbscullery aside, it is possible to implement a reliable, globally distributed, multi-pool. It is possible to place safeguards in your infrastructure and operating procedures to greatly reduce the risk exposure of hacking.

So I’m putting my time and money where my mouth is. I am going to create a globally distributed multi-mining pool that will pay miners in the more stable of the cryptocurrencies available. I plan to use a state of the art infrastructure that makes the different parts modular and not interdependent. The maintenance monitoring of health will be managed by a globally distributed team of experts. Initially the interface will be in English, but then internationalized shortly after.

Wish me luck.