A few days ago, I wrote that LiteCoinPool.org (LCP) had abruptly changed it's payout timing to 6 hours and would not tell it's users what the new minimum payout would be. The reason they gave was user "abuse." I still cannot figure out how users, who set their payout to the minimum level they offer, is abuse.
https://steemit.com/litecoin/@googoomuck/litecoinpool-org-accuses-users-of-abuse
After the accusations and incriminations began flying, an Administrator offered a follow-up comment saying "the general minimum interval was raised in order to prevent the possibility of abuse." (see full reply below)
The only support the Admin got in this forum was from miners who apparently have more than one Scrypt mining rig. This reasoning and explanation offered cold comport to those not running more than one L3+ rig or multiple GPU's, and whom rely on frequent payouts to support/payoff their equipment.
I noted in my previous article that LCP was offering a 102% payout with 12,170 miners active at the time of the post. Now, in addition to the other changes affecting smaller miners, LCP has lowered their payout to 101% with 12,391 users actively mining. What I find interesting here is, LCP was lauded for being a fair and generous place to point your rig. But, it would seem something has changed and the once generous payouts are becoming lower and harder to get. I don't think it will take long for active miners to see that their profits have been cut and decide to move to another Pool.
I decided to compare LCP to Nicehash using 504 Mh/s or by selecting the L3+ as equipment and Zero for power consumption. Here are the results from LCP (note: screenshots were taken seconds apart):
LCP is paying $9.13/d, $63.91/wk, and $273.89/mo (all in USD)
Now, let's look at Nicehash:
Nice# is paying $9.29/d, $68.22/wk, and $319/mo
Honestly, I never thought Nicehash would or could beat LCP. And yes, Nicehash has a payout fee of about 2% to your Nicehash wallet. Still $319 x 0.02 = $6.38/mo. So, $319 - 6.38 = $312.62/mo which is $38.73 and 14.1% MORE than LCP. That's over a dollar a day!
My conclusion, LCP may be moving towards irrelevance as they make these more restrictive and less profitable changes. The only way forward for LCP, in my opinion, is to go back to being the "Go To" place to Scrypt mine and tread carefully on how they interact with/treat their miners.
I have begun looking for new mining options. I really don't think Nicehash is the best place to mine, just more profitable than LCP at the moment. I may even give Multipools.us a try. While they are more aggravating and problematic, they seem to be more profitable for multi-mining that Prohashing.com.
Please leave your comments and input, and especially suggestions for better places to Scrypt mine. As always, please upvote and share.
Cheers!