I'll do a little more research into it. One reason I don't want it is because it will increase my server load.

edit: Also, MEC mining has been fixed and is now enabled.

I gave the figure before that I think my pool generates 52.7 mBTC per day per megahash/s. But I think that figure was too high for a few reasons:

- During my testing period, I got lucky with difficulty fluctuations
- The more altcoins my auto-exchanger has to sell at once, the lower the value.
- My pool had a significant bug.

All I can say is that it will be more profitable than mining LTC. I may have a stat soon on the site displaying the profit per hash of the last day.

Mining different coins works mostly because the difficulty of the coins goes up and down, not just the exchange rate. You're right that the "value" is when you cash out, but I usually cash out pretty soon after finding blocks.

That's not how it works.

As soon as a new block is detected on the network, you abandon your work on the previous block. But that work wasn't wasted because if you found a share you submitted it.

Take the extreme example that the share difficulty is equal to the network difficulty. You will only find a share when it's an actual block. It would be equivalent to solo-mining. It's not less profitable, just more variable.

Thanks. Everyone is going to be mining at multi-pools soon, if altcoin trends continue.

And thanks for multipool.in. That was the only pool I mined at, and was how I got the idea for this pool.

Having a high difficulty does not increase stales. All it does is make you submit less frequent, but higher quality, shares.

Stale shares only happen when you submit a share that my pool has already found a block for. It's dependent on ping time to my pool, but as far as I know doesn't have anything to do with the difficulty.

No, the difficulty is not variable. It's always 512.

It's easier for me to read mBTC, since I don't have to count zeros. Anyone else prefer BTC to mBTC?

I have LTC FTC and NVC disabled because like you say, they are too difficult for the pool hashrate currently. I may at some point proxy another pool for these. They haven't been the most profitable coin for a while though.

Sure, but I wouldn't recommend it. You'd lose more money in power costs than you'd make in bitcoins. If you want to mine with your CPU, you should check out PrimeCoin.

Sorry everyone for the low profitability recently. It's because of the CAP and MEC bugs I mentioned. CAP is fixed, and MEC is disabled for now (working on a fix today). I should have seen it during the beta

As for transparency, the reason to do so would be to:

- Prove that I have a correct profitability calculator, and that I'm doing things correctly such as trading efficiently

This is pretty important. But on the other hand, you could also just look at the reported numbers (or yourself and other users) to see actual profitability, and compare it to other methods. (Note to self: Add a Last Day Profit per Hash column)

- Prove that I'm not cheating

This wouldn't really prove that, because there are tons of ways for a pool operator to cheat which are undetectable.


I'm still thinking about it.

My site reports the hashrate obtained from only accepted blocks. But I wouldn't imagine your rejected rate is high enough to cause that.

On my miner, I get 1.4-1.5 MH/s as reported in cgminer, but my site is reporting me at 1.3-1.4. This tends to happen on any pool I go to. The pools report me at around 10% less hashrate than cgminer.

Maybe when cgminer detects a new block from the network, it takes a second to send the new info to the GPU, and anything produced by the GPU in the meantime is wasted. The higher block rate coins would affect this more, and my pool tends to mine those coins. But I'm really not sure. If this is an issue, I might need to include it in my profitability calculation somehow.

Does this happen to you at other pools? Do those pools mine high block rate coins?

There was a bug preventing MEC and CAP blocks from being submitted. It's been fixed.

Unfortunately, we've had bad luck with the high difficulty coins. We've had no megacoin or bottlecaps blocks. That's where most of your unpaid shares are sitting.

I can certainly see the benefit of transparency here.

Mining bitcoin uses the SHA256 algorithm, for producing hashes, while the currencies my pool is mining use the scrypt algorithm for producing hashes.

If you're having trouble with cgminer and scrypt, I highly recommend reading https://github.com/ckolivas/cgminer/blob/master/SCRYPT-README

If it crashes, you need to install a different version of your graphics card driver, or the AMD APP SDK, or get a new cgminer version, or some combination. If all your shares are rejected, I think the fix was to lower your intensity. It's been a while since I first started scrypt mining, so I can't be too much help.

Another thing is that when I upgraded to windows 8, I got a 5% boost in hashrate. It might have just been because it was a clean install though.

I've just done the first payouts since the beta.

Payouts will happen around 7:30 PM PST, and I will schedule them manually for the first week or so, to inspect each payout making sure they are correct.

I've created a new mining pool that pays in bitcoins, but actually mines the most profitable scrypt currencies. It's quite a bit more profitable than mining bitcoins, on a GPU.

If you're concerned with supporting bitcoins instead of altcoins, you're doing that by mining here, since it continuously exchanges altcoins for bitcoins, lowering the value of altcoins, and increasing the value of bitcoins.

What it does:

- Switches to the most profitable coin to mine, like multipool.in, but with several more coins. The switching code is accurate and fast. At the moment, it's monitoring 12 coins, with several more suspended.
- Automatically exchanges coins for bitcoins, and pays miners entirely in bitcoins.
- Predicts the value of the next block, for coins with variable block rewards.

There is no registration. Simply connect your scrypt miner to middlecoin.com:3333 with your bitcoin address as your username, and any password. Payouts are automatic, and occur once a day, if your balance is greater than 10 mBTC.

See the FAQ at http://middlecoin.com/faq.html

I'm cross-posting this from https://bitcointalk.org/index.php?topic=259649.0. I hope that's OK.

It's automatic. Not hourly, but more often than once a minute, I use the cryptsy API to adjust my sell prices.

That's on my list. It may take a while to get to that feature though. Keep in mind that you'd make 0.4% less profit though if you opt to get paid in litecoins, because of the exchange trade and withdraw fees.

I'm charging you guys the trader's fee, which is 0.4% for coins that go directly to BTC, or 0.7% for coins that go to LTC then to BTC (which are rare). Those are cryptsy's fees, assuming I withdraw at 0.5 BTC.

I charge 2% on top of that, for myself.

Thanks for all your input about the closed nature of the site. I will think about that for the next few days, and possibly make everything open. I keep all the trades and everything in my database, so if I do, you'll be able to see past trades.

That's pretty bad

If anyone on the west coast is getting those kind of rejected stats, please let me know. If not, I'll assume it's location based, and maybe put some servers up around the world if the pool gets popular.

I've been mining in the pool for past 10 days, and my results are:

52.7 mBTC per day per 1 MH/s

This is not counting unpaid shares, because they will be paid eventually.

So, you will get 105400 uBTC per day with a 2,000 KH/s rig.

Note that there may be some lag time in paying out some of that, because of the switching of coins.