Bitcoin Forum

I've been mining at middlecoin.com (http://middlecoin.com) on and off for a few months now. It's hard to figure out what's going on, and stats are minimal, so I started collecting data and created an continuously updating graph:

http://munging.us/coinGeek/ (http://munging.us/coinGeek/)

This is for the whole pool. I did one for just me too, but as long as my hash rate stays constant it's close to the same curves. There's a little info about the pool on the home page at http://middlecoin.com and a FAQ at http://middlecoin.com/faq.html (http://middlecoin.com/faq.html) which will help explain what the graphs show.

Basically though, we want to see the red line go as high as possible before the daily payoff and new coins are mined, matured, and sold to drive the process. It's quite a bit more interesting then a standard one coin pool.

I'm a newbie here and I can't message the pool owner h2odysee so I hope this is OK with him. If someone would do that for me, or maybe post a pointer on the pool topic, "[ANN] profit switching auto-exchanging pool - middlecoin.com", I'd appreciate it.

I linked this thread over there for you.  More data is always better as long as it is accurate!

Thanks for doing that that.

The graphs are as accurate as I could make them. If you see any errors let me know. You can check the latest values against the top "Total" line on the middlecoin.com home page. It should be close to what I have. It changes fairly fast and I only update every 10 minutes, so it won't be exact unless you look at just the right time.

hmm, can you determine/graph the earnings as btc/day/MH?   I have data in Excel but its far from accurate.

Nice work, more data is good to have. The inner workings of this pool are pretty damn obscure.


This already exists:
http://middlecoin.com/profitgraph.html

I've thought about that. I don't think it's easy to do it meaningfully for a few reasons.

One big one is variance. And it's even harder to get a handle on that at middlecoin than on a one coin pool. It's easy enough to take payout and divide by hash rate and get a number. You could average that out over time to get a number for past performance and maybe compare that to the present. But the questions we want to ask might be things like "Is something wrong with the pool right now?" and maybe "Should I go mine litecoin for the next hour instead?". I don't know how to create an up to date payout graph that would work for that. (Not that you asked for that...)

I've been programming for quite a while and I know enough about statistics to know how little I know. It's very possible I'm missing something.

My last 30 days of mining on middlecoin has yielded 0.01578BTC/day/MHs which is more than the 0.0116BTC/day/GHs if I mined directly.  So are we losing profitability somewhere?

Interesting numbers. Your middlecoin numbers are about in line with what I see, although I haven't been collecting data as long. Also, my hash rate hasn't been steady at all.

A couple questions though. Are you using hash rate numbers that you see in your mining software or what's reported back from the pool? And how did you come up with the direct mining number?

It seems that the pool reports about 10% higher than my mining software, so I used the lower figure.   I've done incremental upgrades on my rig, always on Sundays, so i could track any substantial performance changes.

I used the bitcoinx.com mining calculator -- it came second on google search results so it must be the best  :P    I should have used several to see deviations, but I didnt have time before work.

I doubt any conditions yield scientifically repeatable and steady figures, but perhaps if we cooperate and share some data we can begin to see trends and see where the rabbit hole goes.

Interesting that you're seeing higher hash rate reports than your software. I think on average it's a bit low for me. Funny though that I looked just now and its reporting high. My shares per minute is running higher than average too so that explains it.

middlecoin is not profitable for me. Its more profitable to just mine coins according to coinchoose instead.

Major flaw with Middlecoin is that it exchanges the coins only later in the day after the pump is gone.

Instead, if the owner just used coinchoose directly and exchanged the coins automatically then and there, it would make much more.

Interesting. So do you direct mine the alt coins or pool mine? Also, how do you autoexchange? I thought middlecoin exchanged the coins right away too. Not true? (Sorry for the newbie questions but I'm a newbie ;-)

I think one of the things about middlecoin is that all the work is done for you. If you have to go to extra effort to get the same result your time needs to be factored into the profitability calculation.

I've tried to pool mine litecoin and feathercoin on a 1% pool and my results so far haven't been better (or much worse) than middlecoin with the %3+ fees.

Thanks for your great graphs coingeek. Just wondering if you have any data available that would list the total work done in say mhashdays? i.e. total accepted hashing done equivelant to multiples of 24 hours @ 1mhash/s?

I'm trying to find a conservative guess as to our next 30-day average profitably.

middlecoin is less profitable than you may get. If you pay attention to math, you can find that you lose other then win

You could probably gather it yourself and run the calcs in your own script by modifying this one:  https://github.com/michwill/mdc

I use it to monitor my progress on middlecoin.

say what?

The maths is pretty easy - revenue minus cost = profit. Right now (and based on the last 6 months of data) Middlecoin is definately profitable.

Middlecoin is profitable? Yes. I mined there in 2 months

However, when I did some simple maths, I found that I lose more than win when mining there. Now I chose dedicated pools to mine potential coins. My profit is 2-3 times higher

I assume when you say "lose" you mean vs mining the most profitable coin at the time manually then exchanging at your own chosen time. Sure, that definitely has potential to be higher but then I don't have the luxury of the time required to do that.

+1

 
A. People need to audit their results. Versus expectation.

Note" Sure with less miners on smaller pools the luck factor kicks in during short periods of mining sessions but in the longer term those results even out. Just in case any noobs just to any wrong early conclusions when their results are below expectations.

B. Then toss in the fact they dump coins at terrible times, and charge way too much for doing this.

C. This pool is anything but Transparent. It could be scalping miners and they wouldn't have any clue except in the end results, and even then since the miners have no idea what is mined, when, and for how long, they have no idea how to calculate anything but their end results.

D. Just the few percent in fees to auto-sell/dump is crushing final results so terribly it's not worth it as long as one doesn't mind selling later. Or better yet mine quality coins, hold them for gains, and join the miners whom are cleaning up left and right.

E. Toss in that at least several if not many alternative coins to bitcoin are superior, and that other smaller issues have seen much larger gains and it's silly to even let anyone dump higher quality coins at a huge discount.

F. I couldn't determine if middlecoin is on the level or not. No one can. It's too opaque.

G. The worst part is the miners there are doing none of the coins any favor by auto-dumping them and causing wild price swings. Much less when had they kept those coins a while all too often their worth much more.

 Multipools are okay, as long as one can verify what's what, and their not autodumping coins.

 My favorite overall pool is also a multipool that doesn't auto-dump coins, but instead rather holds them for their miners. Check them out, I think if you do you'll be glad you did!

https://www.multipool.us/

 Toss in it's secure with https and that alone is a great quality for any pool. It's far more difficult to hack a https site versus plain text, non secure http sites. So I always try to find one of those no matter what coin I mine. Just another tip there for those that don't realize that. Plus no one can sniff any login passwords and what not since https makes all data transmissions both ways encrypted at all times. I don't recall middlecoin being https but it may be?

 I have nothing to do with https://www.multipool.us/ except I started mining with them in the Spring of 2013 and watched with awe as they grew into a major set of pools. Jump on their multipool port 7777 or mine whatever you wish on dedicated ports. All in all at least their very transparent, always respond quickly to e-mails so far, and seem extremely ethical and what not. I have mined there more than anywhere else in 2013. If the coins there are on your list it would be smart to check them out. Instead of donating a lot to them I just spread the word about them from time to time here.

 So whatever. I tried out middlepool many months ago but I didn't care for the bottom line results, much less aiding wilder prices swings, and all while knowing I was getting a raw deal since their auto-selling and dumping regardless of pricing levels at the exchanges was doing me no favors at all.

 Nothing against middlepool per say, except we cannot determine if their being honest with miners, and it's just not that great of a deal regardless, in fact quite the opposite unless one is extremely lazy or extremely time constrained. And even then it doesn't take much time to round up coins and sell them ourselves. I cannot stand non-transparency in any pool so that's my main beef with middlepool.



Caveat emptor - let the buyer beware!

Interesting reading here. I'm trying out Middlecoin as we speak. I have been in this game for just a month, and from solo mining/pool mining LTC i have only got like 0,4 BTC with 1300MH/s. If I can get about the same, without the hazzle to check rates and difficulties, I'm glad. If you are telling me there are better multipools, I will gladely check them out. :) 

I had a Chrome Extension created for use with Middlecoin.com

Basically, what it does is eliminate the clutter on Middlecoin.com and creates a new Table that only has the BTC addresses that YOU specify.  Also the extension allows naming for each associated BTC address.

Download Link:
https://www.dropbox.com/s/jbznhzcuhab8zmp/Middlecoin%20Parse%20Rows%20Chrome%20Extension.crx

and Image of what the page looks like:
http://www.dropbox.com/s/1750bicwqbkxwxz/middlecoinCapture.JPG

Hmmm.... Image doesnt Show:
Link to Image
www.dropbox.com/s/1750bicwqbkxwxz/middlecoinCapture.JPG

Edit:   Extension Updated 1-13-2014

I posted this the other day in the middlecoin topic, but the topic moves fast, so in case you missed it, here it is:

I took the liberty of giving the pool website a quick makeover. I find myself staring at the graphs and tables on the site quite a lot these days and the current design is, well, not amazing. You can view my mockup here:

http://rickardandersson.github.io/middlecoin

For the sake of convenience, I only included part of the huge table on the front page. In addition, all report links in the table point to the same sample page. I also took the liberty of changing the colors used in the graphs by coinGeek. The colors I used are:

Immature: #ecdf9a
Unexchanged: #a6e38e
Balance: black (2 px wide)
Accepted: #7cb5ee
Rejected: #215b95
Three hour average: black

It's not the most exciting design (I'm not a designer), but I believe it is at least a bit better than what we have today.

h20 and coinGeek: If you like any or all of my changes, by all means, use them.

rascal777

hello and thanks for this great idea, I loaded it down, but cannot bring it to work, how do I have to start your program ?
Thanks !

Hmm.. So you didn't get it to work?   What you have to do is install the extension by dropping the File on the Chrome extensions page.  Then go to the middlecoin page, and press the Coin Icon next to the address bar.  Enter in the BTC address you want, then a comma, then a arbitrary Name.

Example:
1Mg3rnnaCJxcUr5LQhJ5GwVFFsukttZbcT,Row Name

Then press the search button.
I had an error the first time I pressed the search button, so I clicked ok on the Error message, and then hit the search button again.

rascal777

thanks again, your extension works great ! The funny thing is that one of my computers is not detected, have to check...
Contribution is on  the way !

Thanks!

I'm glad it worked for you.   I discovered that the extension won't work until the middlecoin page is fully loaded. 

Are the graphs still working?  I have 3 different addresses myself.  A couple seem to be frozen on Tuesday.  One made it to Wednesday evening.  I have looked at a few others and most seem to be stuck on Wednesday evening and a couple I see made it midway through Thursday but still not up to date.  Are these graphs still being provided?