Status as of Thursday, February 5

Post by **Steve Sokolowski** » Thu Feb 05, 2015 9:23 am

Here's today's status:

I haven't been updating on status as much recently because we've been hard at work completing testing of our new mining algorithm that will use machine learning to avoid raising the difficulty of coins too much. This feature has no known issues and has been in testing for a week, so it may be close to release this weekend.
In parallel, I've been investigating bter and bittrex. Since we tested and certified that the multiple exchange code works great, adding new exchanges takes one week or less. If any of these new exchanges has better pricing at any point than the existing exchanges, it will increase our profitability, so I plan to add one or both of these soon.
Within two weeks, we plan to shift our focus to advertising and marketing, having implemented most of the code that can make our scrypt mining as profitable as can be. If we can obtain 20Gh/s or so of hashpower, then we will begin work on adding other algorithms to the mining server.
When we release this new code that drastically changes our coin assignments, we don't know what is going to happen to profitability. There are three possibilities. The most likely case is that profitability skyrockets to 50 cents or more for a few days until we equalize the markets and then settles 20% higher than it is now. An equally likely case is that we set the algorithm's parameters wrong to start and actually lower our profitability, causing us to have to adjust the parameters until we make a killing for a few days and then settle 20% higher than it is now. An unlikely case is that right out of the box we see a slight increase in profitability, but I think that is unlikely because no pool is using this algorithm right now, and there is a lot of money to be made at first until the markets adjust.