Frequently asked questions

Poker Mining allows you to buy hashpower in an easy and safe way, and therefore to avoid dealing with complex hardware and software setup. Our team consists of mining experts who possess profound knowledge of the digital currency sector. Poker Mining is specialized in building the most profitable and stable mining rings that can be lent/rented, including experts for cooling and maintaining data centers.

It’s fast and effortless! We will add your contract promptly upon receipt of your payment, so you can start mining instantly. You can mine purely Bitcoin or distribute your hashpower on other coins (partial allocations like 60% LTC, 20% BTC and 20% DODGE are feasible, too). Your first payment will arrive within 24 hours, after the first day of mining has passed, and from then on each following day.

Accordingly, your first payment may take up to 48 hours (mining period of 24 hours + up to 24 hours for the payout). Later, it should take nearly 24 hours for each payment, but please keep in mind that this can differ from day to day. For more details, please check the section “When do I get my payout?”

All the services we offer to our clients, we have experienced ourselves and that also applies to mining with this very same hardware. Although we hold Bitcoin and altcoin mining highly profitable, our capital is limited and we try to keep all of our options open/want to “leave no stone unturned”.

In order to maintain safety, we do not expose the precise/specific locations of our mining farms. Since June 2014, we are functioning within three farms that are located in Europe, America and Asia. There are many criteria in account, among which electricity and availability of cooling are very important.

You have ability to choose between mining Bitcoin and additional different altcoins. From December 2014, we provide the following coins:

For scrypt we offer: Bitcoin, Litecoin, Dogecoin, Darkcoin, Reddcoin, Blackcoin, Feathercoin, Auroracoin, Lottocoin, Megacoin, Novacoin, Potcoin, Viacoin, Dnotes and Worldcoin.

For sha256 we offer: Bitcoin, Unobtanium, Bitcoin Dark, Litecoin and Darkcoin.

The list is updated with new coins periodically.

“Poker Mining Advanced Autodistributor” represents a specialized feature that enables you to mine BTC by mining scrypt based altcoins! This means that you are automatically able to mine the most profitable scrypt coins which are then automatically exchanged by our algorithmic trading framework to BTC. We call it “wisely mining BTC”.

We use the same approach to mine DRK with scrypt, or to mine LTC with a sha256.

Prices and difficulties of the coins you mine are determined, to a large degree, by Bitcoin and altcoin mining. Therefore, providing data on the mining profitability and selling contracts at the same time would not appear right. For that reason, all our clients are advised to do their own research and do their own profitability calculation.

For example, you might want to glance at coinwarz.com.

Please keep in mind that the website is an independent source or reference and not related to Poker Mining in any way.

In case of a potential crash, slow down, or completely break of a miner, our algorithms insure that the other miners are distributed to suitable pools to completely compensate for the loss of the hashpower. By that, we ensure our clients do not lose a second of mining time.

A list of pools we are using is not publicly disclosed. Reliability, fee structure and reject rate are our leading criteria for a good pool.Getting ahead, we will solo-mine a couple of coins and pass the fee savings to our users! We will solo-mine a couple of coins in the future and pass the fee savings to our users!

“Spread the positive crypto energy” is our guiding principle - which implies that in order to preserve the decentralized nature of the crypto networks, at least two different pools (in some cases up to four different pools) will be used for each coin. In case we realize that a pool is getting near to 50% share, we will switch away from it and use a backup instead.

Client's first impression could be that purchasing miner X cost slightly less than hosted mining, but there is a certain amount of „hidden“ costs connected to purchasing and maintaining a miner that change the economics considerably:

  • Shipping expenses: Generally you will be charged with extra customs dues / VAT, although few retailers will cover this: in case of an international delivery you will probable have to pay customs dues and VAT; regularly this has an immense impact on the total cost of your mining equipment delivery time: after you pay for your device you have to wait until the miner is packaged and shipped; if it is held up in the customs this can last for weeks.
  • customs dues / VAT: if it is an international delivery you will likely have to pay customs dues and VAT; generally this has a huge impact on the total cost of your mining equipment
  • delivery time: when you pay for your device you have to wait until the miner is packaged and shipped; if it is held up in the customs this can take weeks. And during that time you cannot mine at all ("opportunity costs"). You have to wait and hope. And if the merchant has a stock shortage; it is you who has to wait. With Poker Mining you pay and get your hashpower immediately online. No delays!
  • costs for additional equipment: if you are buying miners from larger retailers you will probably have to buy additional equipment like an extra PSU that matches the electricity specs for your country, control units and specialized counters to store them efficiently. This influences notably on the overall price for hashpower
  • setting the system up: at last, when the device arrives you have to assemble and configure it. If one is a beginner, it is likely that he will underate the amount of work and technical knowledge that is needed to bring the device up and optimize its settings. People spent days and weeks on the first ASICs, when they started using it. Monetarily speaking, this costs you twice: (i) your time and (ii) lost mining opportunity.
  • maintenance: hardware failures, outages and crashes could lead to intermissions lasting between seconds or weeks. Supposing your unit breaks, you have to return it and start from square one (speaking of which: check the guarantee time of your miner; it is often less than a year).Poker Mining ensures you a guaranteed uptime of 100%: if one of your units fails, it will be replaced by another unit that will start mining for you the very same moment
  • electricity: the important factor that many underestimate lies in the fact that having the machines at home brings heat and noise and siginificantly increase your electricity bill

Please do not misunderstand us: our goal is not to discourage you from mining at home!
After receiving a lot of questions about prices, we recognized that many users do not know about all the hidden costs.
By comparing the true costs (and do not by chance own a fusion plant with free electricity and cooling from the Antarctic), you will find that our prices are very competitive.
We want to enable you the best possible mining experience, so that you can focus on mining your favorite coins (and we will handle the rest).

We currently accept the following payment methods:

  • credit card
  • bank wires in USD / EUR
  • crypto currencies: Bitcoin, Litecoin, Dogecoin, Darkcoin

The maintenance fee includes all costs related to mining along with, inter-alia:

  • electricity cost
  • cooling
  • maintenance work
  • hosting services

It is calculated per MH/s scrypt or per GH/s sha256 and automatically deducted on a daily basis. For the current maintenance fee, please check contract details.

There is no set maturity date for lifetime contracts. It means that you will continue to mine and be able to receive payouts as long as the contract is profitable (i.e. the payout covers the maintenance fee). Hypothetically speaking this could be 100 years, nevertheless practically it will depend on difficulty and market prices for the crypto currencies.

Customer support is our biggest concern and care. If you have any further questions, please contact us at any time at contact@poker-mining.com in order to get direct help from us.
We are aware how important it is to give detailed and straight answers to potential investors, since making decisions is not only about having a good instinct but also about thorough understanding the business concept. Therefore, we hope to hear from you.



User Interface / Technical Details

Poker Mining enables its clients to mine different types of coins simultaneously. You can choose which coins you prefer and you can allocate hashpower accordingly.

Faq - Hashpower

By default all hashpower is allocated to the Poker Mining Advanced Auto-Trader (in short “Auto”), which means you will receive your payouts in Bitcoin only.
If you would like to try mining different types of coins, it is achievable as well. In that case, you should visit the user interface and go to “Mining Allocation” where you can choose the hashpower allocation that is best for you. When you are finished press “save”.

In order to get the payout, please ensure to add your payout address in your wallet settings (please see below).

Go to “My Account”and among options select “Wallets”. Here you can set payout addresses for each type of coin. The links in “blue” will help you to find a suitable wallet for your coin of choice.

Faq - Wallet

Poker Mining grants daily payouts of all mined coins!

A mining day starts at 00:00 UTC and ends at 23:59:59 UTC. The start time could be different for you in case you have just bought a contract, and you will only mine for a part of that day. In contrary, your miners will mine for you 24 hours and exactly act according to your settings (see “mining allocation”).

We will do some additional calculations and double-checking to ensure everything is accurate, after the mining day finishes. Your payouts for each coin you have mined will arrive about 8 hours later (max. 24 hours). Please ensure that you assure a payout address for each coin you mine, otherwise we cannot make the payout!

In case you have just bought your first contract, it is possibly to take up to 48 hours until you receive your first payment. If you did not receive anything from us within 48 hours please contact our support team at contact@poker-mining.com.

When you order via credit card, your payouts will be held for a month, as stated in the Terms also. Unfortunately we need that to protect ourselves from credit card charge back. Once the month has passed, the full amount will be released to your wallet, and from then on you will receive a daily payout. In the mean time you can see your earnings accumulate via My Account > My Orders, under "My pending balance of credit card payments"

You can keep track of your payouts also in the menu under “Payouts”.

Mining on an a "typical" pool means that the miner will specifically mine that one coin (and nothing else).

On the contrary, a multipool is able to switch between different coins, depending on their profitability. Usual procedure includes the algorithm check of the coin difficulty and the market prices to determine the most profitable coin, after which all miners are redirected accordingly.

  • First generation of multipools were straightly paying the different coins and it depended on user to exchange them to Bitcoin.
  • Second generation multipools act like first generation pools, but automatically trade the various coins for Bitcoin.
  • Third generation multipools are the highly optimized version of second generation multipools, that mine the most profitable portfolio of altcoins (instead of the most profitable coin). It requires a deep knowledge about the mining process, switching costs and makeing use of advanced portfolio theory (also with respect to correlation patterns among different coins).

In short notes: if coin X is the “most profitable one” by adding more and more hashpower to it, you will make it less and less profitable (i.e., the marginal utility of mining the coin declines). In favour of achieving the best possible result, it is necessary to use modern portfolio theory (and various optimization techniques) to mine the most profitable portfolio of coins.

Moreover, our platform uses an advanced trading engines that allows to trade the mined coins efficiently to any target currency (like Bitcoin). There is a lot of work and brain capacity going into the algorithmic trading engine to make it the best of its class.

The following slide gives a good overview:.

Faq - Multipool

In step (a) the client’s mining hashpower is distributed by the control unit (CU) to various altcoins by using advanced portfolio optimization techniques to mine the most profitable portfolio of altcoins at any time!

After the coins have been mined the Poker Mining Trading Engine (b) exchanges the altcoins to bitcoin for the best possible prices.

In this way you can chill out and earn Bitcoin while the algorithms are doing all the number crunching to maximize your profit! Have a good time!

Payments accepted with

BitcoinBitcoin
US DollarUS Dollar