minerstat mining tutorial #37: Profit switch with F2Pool

minerstat
minerstat
Nov 5 · 5 min read

One of our latest pool partners is F2Pool, which is known as one of the largest BTC pools with support for dozens of other popular coins (LTC, ETH XMR, GRIN, and more), including different merged mining options.

About F2Pool

F2Pool was founded in 2013 and has mined the most blocks of any bitcoin mining pool. Most of the coins have a pay-per-share (PPS) reward scheme, but for some coins pay-per-last-n-shares (PPLNS) reward scheme is available. The fees vary from 0.5% to 5%, depending on the coin you are mining. Complete payouts and reward schedule is available on this help page.

With the PPS reward scheme and a large number of coins available, F2Pool is a very interesting option for the profit switch.

About minerstat’s profit switch

Profit switch is a unique feature that allows you to set up different coins on different pools between which you want to switch. You can control the switching parameters by setting up a minimum mining time, minimum reward difference, and different reward adjustments. To escape spikes in rewards and difficulties, you can use an earnings drop trigger that resets the profit switch.

Profit switch with F2Pool

In this tutorial, we will show how to set up a profit switch on F2Pool on a rig with 6 Nvidia RTX 2070 GPUs. We will switch between the ETH, GRIN, PGN, RVN, YEC, and ZEL. These coins are using different algorithms and are all available on F2Pool.

1. Address editor

The first step in setting up a profit switch is address editor. Address editor is your personal address book of the pools’ and wallets’ addresses. Each pool and each wallet is saved under a certain tag, which can then be used in the general mining client’s config or in the profit switch.

So first we need to add all F2Pool’s addresses to the pools section of the address editor. You can find all of the stratum addresses on the F2Pool’s official website, by clicking on the coin’s name. Some of the coins are available under the [Main] tab and others under the [Labs] tab. For our example, we will add the following pools:

  • ETH: eth.f2pool.com:6688
  • GRIN: grin29-eu.f2pool.com:13654
  • PGN: pigeon.f2pool.com:5750
  • RVN: raven.f2pool.com:3636
  • YEC: yec.f2pool.com:4500
  • ZEL: zel.f2pool.com:3800
You can also download the list of all F2Pool pools from our pool partners page and import it with one click to your address editor.

Then we need to add wallet addresses for each coin in the wallets section of the address editor.

2. Set up profit switch

After you have all addresses prepared, you can continue to the profit switch.

2.a Target

First, select your worker as a target.

2.b Coins

Then add all coins, pools, and wallets to the coins section. For each of them, you can also enter the correct fees, password, and select preferred mining client. Leaving the mining client at autoselect will automatically select the mining client that we think is the best for your system.

2.c Hashrate and consumption settings

Fill the hashrates for all of the algorithms or load them from your benchmark or our hardware database. Optionally enter electricity consumption and select ClockTune profiles.

2.d Electricity costs

Enter your electricity costs per kW/h, if you want to include it in the profit calculation.

2.e When to switch?

Select the minimum difference that is needed to switch to a new coin. For example, setting this to 10% means that in order to switch to the new coin, the new coin’s reward must be 1.1 USD if the current coin’s reward is 1 USD.

Also set minimum mining time. For PPS pools this can be optional, but it is always recommended to not switch too frequently as the time between switching isn’t spent on mining.

2.f Reward method

Lastly, select the reward method you want to use.

  • The normal reward method will use the default estimated reward.
  • The ignore outliers method will replace any outlier with the average reward from the last hour.
  • The apply penalties method will apply penalties to all rewards in regard to how dispersed the data is.
  • The buffer method buffers the multi-algo pool reward in case the multipool is reporting higher payout than the most profitable coin without the low volume on the algorithm.

Since F2Pool is a PPS pool, we will leave the reward method at normal and since it isn’t a multi-algo pool of this kind, the buffer method doesn’t need to be activated as it won’t have any effect over the calculations.

In the end, click [Save changes].

3. Activate profit switch

After you have set up a profit switch for your worker, you need to enable it for the targeted worker as well.

You can do that in the worker’s config …

… or from the workers' list.

If you want to monitor your balance on F2Pool, you can do it from F2Pool’s official website or directly from your minerstat dashboard by adding your wallet addresses in the pools’ balance monitoring.

Happy mining!

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