Ethereum update: Occasional ETH Mining with Etermine Pool: Question on PPLNS scheme and minimum payout.
Hi,
**I’ll explain my situation here and ask my two questions at the end of the post in a TL;DR :**
Up until now, I was pointing my rig at Nicehash and all was good and dandy and I got paid in BTC which I was happy with.
Now, the earnings are not good at all and we can all agree on this, But my operating costs are high and I’m looking to optimise the situation if at all possible.
My electrical rate is variable day and Night/Weekend:
– **Day rate :** Monday-Friday between 06:00 to 22:00. (80 hours a week)
– **Night and Weekend Rate :** From 22:00 to 06:00 Monday-Friday and the whole Saturday and Sunday. (88 hours a week)
The daily rate is more expensive and I’m currently at a loss should I want to mine during theses times.
The NightWeekend rate is still profitable and I can still mine profitably during these hours.
If I were to mine 24/7 accounting for the averaged rate, I would mine at breakeven which is still not interesting compared to purchasing the coin directly. I would get twice as more coins, but my margin would be zero or mining at a slight loss.
What I’m therefore doing, I’m shutting down the rig on a schedule in the morning of the workweek day to avoid the high electrical rate of the day. Then, I start it up with the smart plugs at 22:00 of the workweek day to mine exclusively during the low electrical rate and I leave it on the whole weekend.
With Nicehash, it is a PPS payement Scheme. so not running my rig 24/7doesn’t impacting me. I get paid per share.
With Ethermine, it is a PPLNS payement Scheme. Which I understood is designed to penalise the pool hoppers, and depending on pool luck, is supposedly not impacting the constant miners and occasional miners.
**TD;DR:**
**Question 1:** If I want to mine ETH with Ethermine pool for 88 hours a week in the following fashion:
Monday-Friday: From 00:00 to 06:00 and from 22:00 to 24:00
Saturday-Sunday: From 00:00 to 24:00
Would I be penalised by a PPLNS payement scheme? Does this qualify as “occasional miner” or would I be penalised as a pool hopper.
**Question 2:** I started using Ethermine to take part of their pool and I’ve setup a minimum payout to 0,05 ETH from the default 1.00 ETH. I haven’t received a payout yet and I should obtain my first payout after pointing my rigs to the pool for a bit less than 3 days.
Is there a penalty to setup the minimum payout to 0,05 ETH (<3 days), there is no mention of any flat rate for smaller than default payout. So I’ve guessed it is just the 1% advertised pool fee that’ll be taken away? Am I right thinking so?
I could mine away for 3 days and see, but if a flat rate is applied I would be taxed by a higher fee than advertised. (say 0,001 for 0,05 payout that would be a 2% fee)
About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: Spykwak
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