minerstat mining tutorial #34: Profit switch with BSOD
In this tutorial, we will show you how to set up a profit switch on BSOD pool. BSOD offers GPU and ASIC mining for more than 70 popular coins. The payouts are made automatically every 2 hours for balances above 0.1. For balances above 0.01, the payouts are made on Sunday at 19:00 UTC.
The fee for mining on this pool is 0.9% for pool mining and 1.9% for solo mining.
About profit switch
Profit switch is a tool that allows you to define the coins and pools between you want to switch for your workers. Profit switch can be set remotely through the minerstat dashboard. To set up a profit switch, you will first need to set up your account and worker. If you are not familiar with how minerstat works, you can start here.
When your worker or workers are set up and running, your next step is the address editor. Address editor is your pools and wallets address book. Along with the other pools that you already have defined, you need to define BSOD’s addresses for the coins you want to mine. We suggest you use tags that will help you easily distinguish between different coins. For example,
VTC for BSOD’s VTC stratum address.
So for this case, we need to define the following stratum addresses:
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 BSOD 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 find some suggested values by checking your hardware from our hardware list. You can also conduct a benchmark.
For this example, we will add the following values:
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.
If you are looking for an additional way to escape the spikes that might happen because of low difficulty or sudden price increase, you can also activate the earnings drop trigger.
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 the workers' page. Click on the Switch icon and toggle Profit switch option to enable it.
You can check your balance on BSOD by adding BSOD pool to our pools balance monitoring or by tracking your statistics directly from the BSOD’s website.
More from this series:
- How to start
- Profit switch and mining calculator
- Profit switch with Zergpool
- Profit switch with Mining Pool Hub
- Profit switch with Block Masters
- Profit switch with NiceHash
- Profit switch for ASICs
- Profit switch with MiningDutch
- Profit switch with HashVault
- Profit switch with icemining
- Profit switch with Nanopool