Hedging originated from the financial industry, Alfred Winslow Jones (1900-1989). Its significance is to remove certain risks that we do not want to take, so as to retain only the risks we want. As a new model in the field of mining pools, Smart Mining Switch combines the concept of financial hedging risks to provide miners with a safer environment and more stable returns.
What is Smart Mining Switch?
Smart Mining switch is a function that your hashrate will be switched automatically to a cryptocurrency with same algorithm when this cryptocurrency has higher mining profit.
When Smart Mining Switch is activated, Poolin helps you monitor mining profit of BTC, BCH and BSV in real time. Meanwhile, it automatically switches your hashrate to cryptocurrency with higher profit for mining. Smart Mining Switch between BTC and BCH is available at current stage. Smart Mining Switch within BTC, BCH and BSV will be launched soon. )
Why to Activate Smart Mining Switch?
1. Automatic Switch
Smart Mining Switch is an automatic operation. It takes real-time profit, currency price and other factors into consideration to achieve timely and accurate switch. It is obvious that Smart Mining Switch avoids the loss of profit caused by manual switch.
2. Weekly Profit Details
Settlement for Smart Mining Switch is made in cryptocurrency BTC on weekly basis. And profit details can be viewed on Settlement Bill. Besides, we make a settlement on daily basis for profits which are not based on Smart Mining Switch.
3. Extra Profit Guarantee
Smart Mining Switch guarantees that you can get extra profit (extra profit≥0).
Q: Is it possible to get exra profit only if Smart Mining Switch function is enabled?
A: Yes. Hashrate of some servers will be switched automatically to a cryptocurrency with same algorithm when this cryptocurrency has higher mining profit.
Q: If Smart Mining Switch function is not enabled, will my hashrate be switched?
A: It is possible. The hashrate of customers who have enabled Smart Mining Switch may be connected to different mining servers in the mining pool, such as the A server in Beijing, B server in Beijing, C server in Shenzhen, and D server in the United States. We will perform Smart Mining Switch operation on the hashrate of some servers based on total hashrate. Therefore, some hashrate that do not enable Smart Mining Switch function may be performing Smart Mining Switch operation. This is an optimal solution based on technical constraints.
Q: Is it unreasonable to switch my hashrate without permission if I do not enable the function?
A: 1) If you want to have extra profit, just follow the steps above to enable Smart Mining Switch.
2) According to the relevant content of "Poolin Service Agreement" (2.2 While accepting various services of the Company, you agree to accept various value-added services, including but not limited to merged mining. You here authorize the Company to be fully responsible for disposal and distribution of the profit from such value-added services. Please click https://h5.poolin.com/license/service_en-US. html), you have agreed and authorized "Poolin Service Agreement" when you register Poolin account.
3) In the process of Smart Mining Switch, other mining pools also encounter similar technical restrictions. Compared with other mining pools, Poolin has optimized Smart Mining Switch to the utmost extent.
Q: What currencies are applicable for Smart Mining Switch?
A: Smart Mining Switch between BTC and BCH is available at current stage. Smart Mining Switch within BTC, BCH and BSV will be launched soon. And other currencies with the same algorithm may be launched.
Q: Will the profit of hashrate be distributed to users during test stage?
A: It is noted that we did not make a profit during testing stage. On the contrary, due to the unreasonable parameter design, the block profit was not exchanged timely, exchange fee and other reasons, a large loss has been caused at that time. Official launch of this function is a decision made after experiencing multiple failures and ensuring that users enable this function could obtain extra profitable settlement.
Q: Will Smart Mining Switch increase rejection rate?
A: No. After Smart Mining Switch is launched, mining pool will issue different jobs to miners. For example, a BTC job was issued a few minutes ago, and a BCH job was issued then. The intermediate switching process will still recognize eligible shares based on mining pool mechanism. Therefore, Smart Mining Switch will not increase rejection rate.
Q: Will Smart Mining Swich lead to a decrease in profit for other users who have not enabled this function?
A: 1) Taking BTC switch to BCH as an example, the operation process of Smart Mining Switch will not affect profit of BTC users. Poolin takes FPPS model for settlement. Profit is related to the difficulty of whole network and has nothing to do with the short-term hashrate in real time.
2) For BCH users, because BCH uses a block-by-block difficulty adjustment mechanism. Switching BTC hashrate to BCH for a short time will cause a consequence that BCH increases the difficulty of whole network and reduce profit. However, Smart Mining Switch from BTC to BCH for mining is an action taken by mining users in order to obtain higher profit, that is, the choice of miners. In this process, mining pool only provides functional implementation.
3) Multiple mining pools currently provide such hashrate switch functions, including
a) Antpool, BTC.com, ViaBTC which provide users with manual operation to switch hashrate.
b) Directly switch users' hashrate like BTC.top, etc.