Please note that the content in this tutorial is deprecated and not up to date.
In our next tutorial, we will show you how to set up a profit switch to mine on a CryptoNight mining pool called HashVault.
HashVault is a pool that supports various CryptoNight (and its forks) coins. It offers different unique features, such as:
- Automatic server selection based on geo position.
- Variable port difficulty.
- PaymentID payments for exchanges.
- PPLNS payout scheme.
- Custom payout threshold.
- Different types of notifications and charts.
- Option to monitor the status on the pool through Android and iOS mobile dashboards.
The fee for mining on any of these pools is 0.9%.
About minerstat’s profit switch
Profit switch is a special feature that allows you to define coins and pools between which you want to switch for each or all of your workers. It is used remotely through your minerstat dashboard. To start using it, you will need to register a new account at minerstat and install the minerstat software on any of your mining devices. You can use Linux based mining OS, Windows mining software, and ASIC hub. You can check this tutorial if you want to see how to start with minerstat.
When your worker or workers are set up and running, your first step to set profit switch will be the address editor. Address editor is pools and wallets address book. Along with other pools that you already have defined, you need to define HashVault addresses for the algorithms you want to mine. We suggest you use tags that will help you easily distinguish between HashVault addresses and other addresses. For example,
HV-XMR for XMR pool address at HashVault.
In today’s case, we will set up a profit switch for mining with mining rig with six AMD RX 580 GPUs. The coins that we are interested in are all GPU coins: XMR, AEON, LTHN, MSR, GRFT, XTL, XHV, LOKI, RYO, TUBE, TRTL, XCASH, and XRN (we will skip SUMO, KRB, and ETN as they are ASIC coins).
The pool addresses need to be defined as
COIN is the coin’s name (as defined on HashVault’s site) and
PORT is the port for mining that coin. For our case, we will use:
Please note that you should select the coins that you are interested in - having too many coins in the profit switch might slow down the reward payout time and you will need a wallet for each of the coins you include in the profit switch.
After we have defined all pools and wallets in the address editor, our next destination is profit switch.
First, select the workers to which you want to apply the profit switch. You can select one or more workers or one or more groups.
Select the coins you want to include to the profit switch. Make sure to select a correct corresponding pool, wallet and to type in the correct pool fee (for HashVault this is 0.9%).
If you prefer to use a mining client of your choice and/or with custom settings, select the miner and edit its configuration. Otherwise, you can leave it at
Autoselect. If you will select a custom configuration, make sure to include the right pool and wallet tags as with custom configuration it won’t be automatically replaced with your selection.
Hashrate and consumption settings
For a profit switch to work, we need to define the speeds the worker reach on certain algorithms. If you haven’t tried mining all algorithms yet, you can browse the internet to find some default values and then update them after you first switch to this algorithm and you will be able to see the exact speed.
For this example, we will add the following values:
- CryptoNightLiteV7: 900 H/s
- CryptoNightV8: 900 H/s
- CryptoNightHeavy: 900 H/s
- CryptoNightFast: 900 H/s
- CryptoNightSaber: 900 H/s
- CryptoNightHaven: 900 H/s
- CryptoNightStelliteV4: 900 H/s
Optionally, add power consumption and change the overclocking profile.
We won’t be dual mining in this case so we can skip this section and leave values at 0.
Enter the amount you pay for kW/h. In our case, this is 0.11 EUR for kW/h.
When to switch?
Enter the percent of the minimum allowed difference to switch on a new coin and the minimum mining time before profits are calculated again for comparison.
Select the reward method you want to use. The “normal” method will select the reward as it is, the “ignore outliers” method will replace outliers with the mean value, and the “apply penalties” method will penalize all rewards in regards to how dispersed are the rewards in the last 4 hours.
Activate profit switch
After you have saved changes, you have only saved the configuration that will be used for profit switch. To really start profit switching, you will need to activate it for your miner.
- Open your workers’ config page.
- Select the same target as you did in profit switch.
- Scroll down to Profit switch.
- Click on the grey square to make Profit switch option checked and included in the update.
- Select Enabled from the drop-down.
- Scroll at the bottom and click on Save changes.
- This will activate the profit switch and within 10 minutes your first profit switch selection should be active.
If you have a smaller number of workers you can activate profit switch directly from workers page. Click on Switch icon and toggle Profit switch option to enable it.
You can check your balance on HashVault by adding it to our pools balance monitoring or by tracking your statistics directly from the HashVault’s website.
More from this series: