FREQUENTLY ASKED QUESTIONS
How do I start mining?
Take a look at our Getting started guide for detailed instructions to start mining and all the servers you can connect to.
What is a mining pool?
A mining pool is a service that joins multiple miners to increase the odds of finding a block and split the rewards according to their contributions. In the case of PowerPool, we pay the miner contributions immediately as soon as the work contributions are accepted by the server, so miners get payed even if we don't find a block.
What reward method do you use?
At PowerPool we use PPS (Pay per Share) also known as FPPS (Full Pay per Share), so you are rewarded immediately for the shares you submit. Other methods offered by other pools are PPNLS (Pay per Last Number of Shares), PROP (Proportional) or SCORE (Scored contributions). These other methods only payout when a block is found, so it better protects the pool owners.
What is the fee for PowerPool?
The fees for PowerPool are the following:
- Scrypt: 1.0%
- Sha256: 1.0%
- Eaglesong: 1.0%
We can't ensure it will always stay this way, we will always try to keep the fee as low as possible and within reasonable margins.
Do you have a referral system?
Yes we do! Miners can be referred using your referral code, you can find your code in your dashboard, the code owner gets 20% of the fees payed by the referred miner!
Can I mine with a CPU or GPU?
While you can connect to our pool with a GPU or CPU miner, you will not make any money. The Scrypt algorithm is ASIC mining dominated, so only ASIC miners can stand to make a profit.
Can I adjust my starting difficulty?
You can add d=xxxx to your worker password to specify a starting difficulty, this is essential for some very high speed miners.
Can I use mining rental services with PowerPool?
We allow miners from MiningRigRentals and similar through our regular 3333 port, however NiceHash renters, must use the port 3334, see below for how this limits profitability as a result from limiting some of our optimizations.
How often do you payout miners?
We execute payouts every hour for LTC, BTC DOGE, DGB, ETH, CKB, KDA and DASH.
What coins do you payout?
We convert all mined coins to LTC, BTC DOGE, DGB, ETH, CKB, KDA or DASH and payout miners every hour, you can select your payout coin proportions in the payour settings section of your account dashboard.
What are Nicehash limitations?
You can now use Nicehash with the 3334 port on the main servers, however, there are some limitations. We had to disable some optimizations that were not compatible with Nicehash's protocol, but we worked with them to make it as profitable as possible, you can find the Nicehash profitability in our Stats Page, under "High speed port profitability", we have worked really hard with Nicehash to make it so that the profitability barely differs, but in some occasions they might. You can also find that profitability in our API.
How are we so profitable?
If we explained exactly what our underling algorithms are, bigger pools would copy us and we would lose our edge, but we can disclose that we switch between many coins and pools, merge mine as many coins as there exist and we predict difficulty changes mathematically before they even happen so you can earn as much as possible are reach your ROI a lot quicker, especially with these raising electricity prices.