[ANN][MULTI][VARDIFF] TradeMyBit MULTIALGO Profit Swap w/ Optional Auto-exchange

[merc82]

I'm trying to withdraw BC to Cryptsy but I receive a message saying it's an invalid address.
Is anyone else having the same problem?

BC was offline, should be able to now.

Thanks

[btctester]

Still doesn't work. Now i could set the address, but the "Payout Now" button doesn't work.

[merc82]

Still doesn't work. Now i could set the address, but the "Payout Now" button doesn't work.

What's the account name? I'll dig in and review as the BC payout processing appears to be working properly

[btctester]

got my BC
thanks!

[pengoau]

auto exchange fee seem a bit excessive/high at 2% when most exchanges charge less than 1%. Whats the justification for such a high fee other than greed?

I have no problem with charging for a fee for the automation but the 2% fee seems a bit excessive, on top of the pool fee.

For an example Mintpal charges 0.15% and poloniex 0.20%. Cryptsy is at 0.2% for buys and 0.3% for sells

Can you please give a reason for such a high fee? Which exchange are you trading on?

Maybe change the autoexchange fee to something more reasonable? Like say 0.5% (like your pool fee)?  I guess thats why your pool fee is so low, coz you gouge (unsuspecting) users that use auto-exchange? Just seems greedy to me when the going rate is about 0.2%.

[merc82]

auto exchange fee seem a bit excessive/high at 2% when most exchanges charge less than 1%. Whats the justification for such a high fee other than greed?

I have no problem with charging for a fee for the automation but the 2% fee seems a bit excessive, on top of the pool fee.

For an example Mintpal charges 0.15% and poloniex 0.20%. Cryptsy is at 0.2% for buys and 0.3% for sells

Can you please give a reason for such a high fee? Which exchange are you trading on?

Maybe change the autoexchange fee to something more reasonable? Like say 0.5% (like your pool fee)?  I guess thats why your pool fee is so low, coz you gouge (unsuspecting) users that use auto-exchange? Just seems greedy to me when the going rate is about 0.2%.

The auto-exchange is completely optional and requires manually opting IN (it doesn't default to on). We do charge a premium for this as we use many different exchanges to get the best price available. Most of these exchanges require manual trading throughout the day in order to get the best rates. If you wish to not pay the 2% premium, you are more than welcome to keep the coins without auto-exchange and trade them yourself (or use the cryptsy auto-sell feature, etc)

[pengoau]

Thanks for your response, heh premium is the keyword here when the going rate is 0.2%. Thats a whopping 900% increase...fwoar! heh

On 0.004 thats a fee of 0.00008 (0.004*0.025[pool + auto exchange fee]). You are going to send me to the poor house!

Is it possible to implement an option (checkbox) that you can check that will set autoexchange to yes for all coins? The dropdown is only for new coins, I set it to on but it doesn't set the existing coins to yes/on. I guess I got a lot of clicking to do, fml.. hehe

Its nice how the default is set to off and you also list what exchange the coin is on (on the main page). You got a good site with good transparency.

Good job.

[pengoau]

pool seems down? can't resolve the west server address (was working) and the main address stratum+tcp://stratum-us.trademybit.com:3330 sits idle waiting for work.

update: east gets work, west resolves dut doesn't send any work. I'm in Australia so west coast is best for me, but since east is the only thing that sends me work that is best (heh).

[Hagbard]

Thanks for your response, heh premium is the keyword here when the going rate is 0.2%. Thats a whopping 900% increase...fwoar! heh

On 0.004 thats a fee of 0.00008 (0.004*0.025[pool + auto exchange fee]). You are going to send me to the poor house!

Is it possible to implement an option (checkbox) that you can check that will set autoexchange to yes for all coins? The dropdown is only for new coins, I set it to on but it doesn't set the existing coins to yes/on. I guess I got a lot of clicking to do, fml.. hehe

Its nice how the default is set to off and you also list what exchange the coin is on (on the main page). You got a good site with good transparency.

Good job.

Not quite sure where you're getting the .2% 'going rate'. I don't know of any autoexchange multipool that charges less than 2%. Rates to me seem to be around 2% - 4%. Don't confuse exchange fee on a dedicated exchange with the autoexchange service of a multipool.

[pengoau]

The 0.20% is the avg rate that exchanges charge. So what I was getting at is charge a fee, thats fair (for the automation etc) - enough to cover exchange fees and a bit extra for the convenience. A 900% increase for this service compared to what exchange fees are seems a bit excessive.

Tho when you combine the pool + autoexchange fee compared to other pools its about in line (e.g. clevermining, middlecoin, waffle which payout in btc).  Its a good thing the main pool fee is 0.5% as it helps and keeps the pool competitive (multipool that payout in btc are 2%-4%).

TMB being most profitable and in the middle its not so bad once you compare apples with apples.

[DarthMuffin]

Are payouts working?  I mined for 2 days, have autoconversion on and have over a .01 BTC balance but was not paid.  Did a manual payout 2 days ago and have not received it ("cancel payout" button is still there).  Additionally, my ledger page is blank where it did display things before I requested the payout.

[merc82]

Are payouts working?  I mined for 2 days, have autoconversion on and have over a .01 BTC balance but was not paid.  Did a manual payout 2 days ago and have not received it ("cancel payout" button is still there).  Additionally, my ledger page is blank where it did display things before I requested the payout.

Things are running normally, inbox me your account name and I'll take a look

[pengoau]

How long does meow take to autoexchange? Its pending deposit, does the exchange need a lot of confirms? I'm guessing it needs a lot of confirms before the exchange recognises the deposit?

[dailyarsenal]

can we add POT Coin? Is that mine-able?

[treyson]

Been on and off the pool for awhile and I'm always drawn back due to the nice selection of coins, clear comms from the operator and the n-Scrypt side of the options available.

One of the nagging concerns I have that pushes me to other pools is that the auto exchange appears to me to be consistently getting ~10%+ below coin value on a per coin value expectation.  Can you consider adding a "value per coin as exchanged" type header to the auto-exchange batches information set that is found when going into the "Auto Exchange" portion of the website?  This would add some good info there and possibly allow for opportunities for improvement on this side of the pool?  I'm also making the post to see if there is something I'm unclear on here.

Currently for example, when I add "Your Credit" and "Your Fee" and divide by "Your Coin" I'm getting a value per coin that is far enough below where current and recent prices per coin are that it's 1) hitting profitability and 2) unclear as to why.

[treyson]

So as another example I just had a size 1000 WC go through the autoexchange setup at trademybit and it traded through at -20% to where the market was just before and just after the exchange from WC to BTC as done through the automated exchange setup at TMB.  Per coin value was .00000850btc as obtained by TMB's autoexchange, but the market for this coin was much higher just prior and just after this trade went through.  Perhaps the markets are super thin and the exchange crashes it, but this is a major affect on coin profitability if I mine when the coin is valued at xbtc/mh's, but the exchange system consistently gets 10-20% below the going market rate before and after the exchanges to btc are being made.

Edit: A following trade of WC as done by the autoexchange at TMB got much closer to the market rate, though here the trade was for a lot less WC.

I know I can manually do the exchange, but i'd like to see these exchange rates got for our mined coins not be consistently and in some cases substantially lower than where the market trades at just prior and just after the trade goes trough, or if this is unavoidable due to thin markets then have the value for mining the coin adjusted in some manner.

[psikogeek]

The 0.20% is the avg rate that exchanges charge.

What the exchange charges is not the service provided.  The service provided is
1) Selling at survivable exchanges
2) which one wants to be the most profitable exchanges,
3) large amounts,
4) while the coins are being or about to be dumped by other multipoolers, and then
5) redistributing the proceeds.

I do not envy the task of autoexchange for a multipool.

[psikogeek]

I am asking because I do not know.

The 42 has just added multipool protection. (KGW).

Does TMB avoid KGW currencies or try to profit from them with low volume?

[MobileWill]

Thanks for posting your findings. I am on the fence between TradeMyBit and Clevermining. CM has been my main pool after I dumped Middlecoin, Trade seems higher profitability than CM at the moment. What do you think?

[mrflibblehat]

Never had such a high payout as I have on TradeMyBit, This pool is amazing! thanks!