[ANN] profit switching auto-exchanging pool - www.middlecoin.com

[v0n]

Not only that, but according to poolpicker.eu it's average return is in line with other script pools for the last few weeks. Of course, all script pools are doing crap now... But my point is that middlecoin is supposedly doing it with both hands tied behind it's back.

This might have more to do with the way poolpicker calculates or perhaps is even led to arrive at its daily numbers. For example poolpicker for quite some time lists coinking as the top choice in SHA-256 section, however as far as I'm aware coinking isn't actually paying dailies for BTC mining. And without actually issuing daily balance payouts for BTC mining the pool couldn't possibly reach its poolpicker listed daily SHA-256 payout figures. I know this first hand as I run one asic miner for few days to coinking's sha256 pool and my account hasn't been paid for those few days of BTC mining for about a month now, with payment estimate figure in dashboard mysteriously shrinking every day to now a fraction of the original estimate. Several posters here confirmed they had similar experience with that pool, we even posed the question to the owner or one of the owners of coinking on this forum and he chose not to answer any of us.

So either poolpicker base the estimates on numbers released specifically for them by pools, rather than actual mining, or maybe some pools are clever enough to pay little differently to the right account in order to make daily statistics look a little better. Obviously this is purely my speculation.

I agree with middlecoin being in auto pilot mode at the moment, it took forever for my test run balance to move from "Immature Unexchanged" to "Unexchanged" field and nothing moved any further for days. Looking through the stats you can clearly see payments are being issued daily at 2:30 in the night, but it looks like exchanging mechanism (rather than payout) triggers only if address balance is high enough (probably around 0.01 BTC). I always have a dedicated test rig pointed at the pool before committing to a larger scale mining - and I've seen this abandoned/auto pilot mode many times - p2pool.org has few coins with active users but last payouts 4 or 5 weeks ago, couple of my test runs on mega multi pool vanished into black hole, although, to be fair, some coins/pools have such scarce traffic that it might be just some verification issue or unmaintained setup stuck on preforked settings or similar. I just presume most of those pools are some sort of student ventures set up in dorms that remain abandoned until school year starts or something.  

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[coinGeek]

Not only that, but according to poolpicker.eu it's average return is in line with other script pools for the last few weeks. Of course, all script pools are doing crap now... But my point is that middlecoin is supposedly doing it with both hands tied behind it's back.

This might have more to do with the way poolpicker calculates or perhaps is even led to arrive at its daily numbers.

Good point. poolpicker uses the best numbers it can come up with depending on what the individual sites offer. There are real limitations to that approach though and you have to take it with a grain of salt. Suchmoon's technique of actually mining sites and reporting his results is much better

https://bitcointalk.org/index.php?topic=514242

He quit mining Middlecoin though -- probably with good reason at  the time.

[coinGeek]

The general conciseness seems to be that Middlecoin is just running all by itself with no one in charge or maintaining it. So, miners should beware.

This raises all sorts of questions for me. Like, why? And, how can it keep running at all?

Not only that, but according to poolpicker.eu it's average return is in line with other script pools for the last few weeks. Of course, all script pools are doing crap now... But my point is that middlecoin is supposedly doing it with both hands tied behind it's back.

How can it do that?

Simple - mine the site is mining the same old coins it has always had, like litecoin and dogecoin...  The difference in profitiability between scrypt coins is so small now because of predominant multi-pool mining, that even if Middlecoin was only mining litecoin, it would be somewhat close to other pools.

However, you're absolutely nuts if you're still pointing hash at this pool.

Try:
WafflePool.com
or
CleverMining.com
or
heck, just mine some Litecoins.

Your advice is good and I agree.

My question is a bit more subtle though: Is it really possible for a mining pool to run for months unattended?

How do the server bills at Amazon get paid. (and with what? it can't make much more then about $10 a day in fees). What happens if a coin changes software? an exchange changes interface? and

I realize that no one with answers seems to be talking but the more I think about it the stranger it seems.

[phzi]

Your advice is good and I agree.

My question is a bit more subtle though: Is it really possible for a mining pool to run for months unattended?

How do the server bills at Amazon get paid. (and with what? it can't make much more then about $10 a day in fees). What happens if a coin changes software? an exchange changes interface? and

I realize that no one with answers seems to be talking but the more I think about it the stranger it seems.

Sure.

Not hard to pre-pay for a server for a year.  Litecoin hasn't had any hard-forks, and exchange APIs changing to the point of breaking compatibility with existing software is pretty unlikely.

[LeetPoolsOP]

The general conciseness seems to be that Middlecoin is just running all by itself with no one in charge or maintaining it. So, miners should beware.

This raises all sorts of questions for me. Like, why? And, how can it keep running at all?

Not only that, but according to poolpicker.eu it's average return is in line with other script pools for the last few weeks. Of course, all script pools are doing crap now... But my point is that middlecoin is supposedly doing it with both hands tied behind it's back.

How can it do that?

Simple - mine the site is mining the same old coins it has always had, like litecoin and dogecoin...  The difference in profitiability between scrypt coins is so small now because of predominant multi-pool mining, that even if Middlecoin was only mining litecoin, it would be somewhat close to other pools.

However, you're absolutely nuts if you're still pointing hash at this pool.

Try:
WafflePool.com
or
CleverMining.com
or
heck, just mine some Litecoins.

Your advice is good and I agree.

My question is a bit more subtle though: Is it really possible for a mining pool to run for months unattended?

How do the server bills at Amazon get paid. (and with what? it can't make much more then about $10 a day in fees). What happens if a coin changes software? an exchange changes interface? and

I realize that no one with answers seems to be talking but the more I think about it the stranger it seems.

Another profit pool that is new is http://leetpools.net - Looking for new miners.

BCT Thread here: https://bitcointalk.org/index.php?topic=702527.0

[coinGeek]

Your advice is good and I agree.

My question is a bit more subtle though: Is it really possible for a mining pool to run for months unattended?

How do the server bills at Amazon get paid. (and with what? it can't make much more then about $10 a day in fees). What happens if a coin changes software? an exchange changes interface? and

I realize that no one with answers seems to be talking but the more I think about it the stranger it seems.

Sure.

Not hard to pre-pay for a server for a year.  Litecoin hasn't had any hard-forks, and exchange APIs changing to the point of breaking compatibility with existing software is pretty unlikely.

Those are plausible answers. As a software developer though, I can't help worrying about all the moving parts. I guess we just have to wait for it to break and see if anyone fixes it.

I think h2o was always a one man show so he was probably always working to make it as automatic as possible. In which case, good job 2 -- you bastard .

 

[andromeda66]

Oh dear, haven't looked at it in a while. 60 BTC balance, dust presumably? I know I have ~0.008 there, maybe I should mine a little bit to get to 0.01

12 BTC unexchanged, but that could be worthless for all we know.

I had the same thought about the 60 BTC of carry over balance. That's a lot of dust sitting in a wallet that someone can maybe still access. With 40000 some IDs and a lot with sub .01btc balances I can believe it is just a thick layer of dust, but I'm too lazy to do the math right now.

Just another strange part of the Middlecoin mystery I guess.


I mined my balance down to zero a while back. With script mining paying so little now you won't lose that much throwing a little hash at Middlecoin to even up.

There are strange issues with middlecoin.

I have unconverted balance for about one week now and the pool owner didnt anwer to my questions.
I have to warn all miners outside because i am not sure if middlecoin is able to pay out his customers.

Is your balance over .01 BTC? and what's your hash rate?

My "Immature Unexchanged Balance (estimated BTC)" all went to "Unexchanged Balance (estimated BTC)" but didnt go any further
to "balance". It stuck in "Unexchanged Balance (estimated BTC)".....and yes, my Unexchanged Balance  is over .01 btc....and i have no active hashrate because
i dont want to throw my money into ab big black hole  ....another hint could be that if you take a look at the front page of middlecoin.com you´ll see
an embedded twitter window....the last tweet was from Mar 7.....and the last activity from the dev was April 11.....look at this:

Name:    h2odysee
Posts:    489
Activity:    238
Position:    Full Member
Date Registered:    May 01, 2013, 10:43:23 PM
Last Active:    April 11, 2014, 10:05:20 PM


I think that will speak for its own, does it? Maybe there happened something very bad to h2odysee

Strange. But as it is written.......

[andromeda66]

Oh dear, haven't looked at it in a while. 60 BTC balance, dust presumably? I know I have ~0.008 there, maybe I should mine a little bit to get to 0.01

12 BTC unexchanged, but that could be worthless for all we know.

I had the same thought about the 60 BTC of carry over balance. That's a lot of dust sitting in a wallet that someone can maybe still access. With 40000 some IDs and a lot with sub .01btc balances I can believe it is just a thick layer of dust, but I'm too lazy to do the math right now.

Just another strange part of the Middlecoin mystery I guess.


I mined my balance down to zero a while back. With script mining paying so little now you won't lose that much throwing a little hash at Middlecoin to even up.

There are strange issues with middlecoin.

I have unconverted balance for about one week now and the pool owner didnt anwer to my questions.
I have to warn all miners outside because i am not sure if middlecoin is able to pay out his customers.

Is your balance over .01 BTC? and what's your hash rate?

My "Immature Unexchanged Balance (estimated BTC)" all went to "Unexchanged Balance (estimated BTC)" but didnt go any further
to "balance". It stuck in "Unexchanged Balance (estimated BTC)".....and yes, my Unexchanged Balance  is over .01 btc....and i have no active hashrate because
i dont want to throw my money into ab big black hole  ....another hint could be that if you take a look at the front page of middlecoin.com you´ll see
an embedded twitter window....the last tweet was from Mar 7.....and the last activity from the dev was April 11.....look at this:

Name:    h2odysee
Posts:    489
Activity:    238
Position:    Full Member
Date Registered:    May 01, 2013, 10:43:23 PM
Last Active:    April 11, 2014, 10:05:20 PM


I think that will speak for its own, does it? Maybe there happened something very bad to h2odysee

Strange. But as it is written.......

Caution!

Beware of Middlecoin.com!!!

Strange issues are going on and the pool didnt pay out!

Dont put your miners here you wont get paid!

I also inform poolpicker.eu in order to remove middlecoin stats from there site

edit:

Here the answer from poolpicker.eu:

"Hey.

I have now disabled Middlecoin on PoolPicker. Thanks for bringing this to me.

Cheers,
webbson"

[coinGeek]

Caution!

Beware of Middlecoin.com!!!

Strange issues are going on and the pool didnt pay out!

Dont put your miners here you wont get paid!

It is true that strange things have been going on for a while. Just read back in this thread. The owner has seemed to stop maintaining the pool and dropped out of sight for some reason.

People are getting paid though. Just doing a quick look around I can't find anyone who had a balance over .01 who didn't get paid last night. So that part isn't true. It does look like everyone is running a high unexchanged, so some coins aren't being sold for some reason.

Like I said yesterday, If it's broken if will be interesting to see if anyone fixes if.

[coinGeek]

I just put his message on the graphs on Middlecoin:

This pool seems to be unmaintained.

Do your homework before mining here. If you have a
problem it could be no one can fix it.


If this message is wrong PM coinGeek at bitcointalk.org

If anyone has any information I should know about the pool PM me.


EDIT: I toned the message down a bit. It looks to me like the pool is working for the most part although it's true that it seems unmaintained.

[kenshirothefist]

Woha, it is really awesome to see this thread alive agian I was a big fan of middlecoin in it's early days - brilliant innovative idea, outstanding profits and misterious operator (h2o) ... And it is trully unbelivable that this pool is still alive ... still so many miners. However, I do not believe that this pool runs by itself ... 5 (or more) servers, distibuted database, connections to exchanges ... no way that this runs by itself - especially if you look at the history of middlecion with no so many but stil occasional issues, downtime, etc. ... Ayway, it is great to see a cryptocion service still being alive (even though slowly fading away) after more then a year! Congratulations to h2o who is for sure on some beach with a beer in his left hand and a wallet, full of Bitcoins in his right hand

[coinGeek]

After a little study, I think Middlecoin is still working and paying out. I do think it deserves a warning label and I'll leave one on the graphs for now.

If anyone can show me an example of users who are hashing on Middlecoin and not making something like LTC level returns, point them out to me and I'll make the message stronger.

[andromeda66]

Caution!

Beware of Middlecoin.com!!!

Strange issues are going on and the pool didnt pay out!

Dont put your miners here you wont get paid!

It is true that strange things have been going on for a while. Just read back in this thread. The owner has seemed to stop maintaining the pool and dropped out of sight for some reason.

People are getting paid though. Just doing a quick look around I can't find anyone who had a balance over .01 who didn't get paid last night. So that part isn't true. It does look like everyone is running a high unexchanged, so some coins aren't being sold for some reason.

Like I said yesterday, If it's broken if will be interesting to see if anyone fixes if.

When your balance stuck in "unexchanged" and dont move to "balance" this will cause a "No Payout"....the result is same for me....so we have to warn the miners that there is no garantie that an "unexchanged balance" moves to balance and will be paid out automatically....maybe a massive drop in hashpower kicks someones ass out of his hole or from the beach  ;-)

[unamis76]

The pool does payout, you just have to wait a lot of time. A few months ago I mined my balance out, and I eventually got paid.

People who are still mining here either forgot their rig, are newbies that are just finding out about this now and don't have an account here, or people who simply don't care, there's no need for warnings...

[andromeda66]

The pool does payout, you just have to wait a lot of time. A few months ago I mined my balance out, and I eventually got paid.

People who are still mining here either forgot their rig, are newbies that are just finding out about this now and don't have an account here, or people who simply don't care, there's no need for warnings...

I dont think so. If the pool have serious issues wherever they belong, people have to know about if there is a need or not.....for example i need my unpaid balance now and not
in a few month and that there is no one who takes care makes me angry and people should know that!!! 

[unamis76]

The pool does payout, you just have to wait a lot of time. A few months ago I mined my balance out, and I eventually got paid.

People who are still mining here either forgot their rig, are newbies that are just finding out about this now and don't have an account here, or people who simply don't care, there's no need for warnings...

I dont think so. If the pool have serious issues wherever they belong, people have to know about if there is a need or not.....for example i need my unpaid balance now and not
in a few month and that there is no one who takes care makes me angry and people should know that!!! 

On May 14th (or even way before) if you came to this thread, you could see this pool was in autopilot. You should relax. No need to post in big red letters, everyone knows what's up. Being angry won't make anyone pay you. Just find a new pool, as everyone here did.

[coinGeek]

The pool does payout, you just have to wait a lot of time. A few months ago I mined my balance out, and I eventually got paid.

People who are still mining here either forgot their rig, are newbies that are just finding out about this now and don't have an account here, or people who simply don't care, there's no need for warnings...

I dont think so. If the pool have serious issues wherever they belong, people have to know about if there is a need or not.....for example i need my unpaid balance now and not
in a few month and that there is no one who takes care makes me angry and people should know that!!!  

If you look on the Middlecoin site at miners results you'll see that anyone who mines regularly is paid regularly and the results are more or less in line other script pools. If someone says that the pool doesn't pay they look silly to anyone who checks it out.

 

[v0n]

If you look on the Middlecoin site at miners results you'll see that anyone who mines regularly is paid regularly and the results are more or less in line other script pools. If someone says that the pool doesn't pay they look silly to anyone who checks it out.
 

I think what the others are pointing out is that if the coins you mined today, at the moment, take several weeks to clear and trade, then you are only paid "regularly" because you bet on the pool long enough to get paid. Yet as nice as it might be (to be paid, regularly, eventually, if you wait long enough)  the payment issued in this fashion is neither truly "regular" nor of any use to anyone who mined with the pool for today's prices.

Miners today hash for earnings and earnings only, any pool is only as good as today's payment and any pool that requires some sort of pledge of loyalty long term before those earnings are released is neither good for the miners wallet nor should it be actively popularized or encouraged to join.

Scenario where middlecoin payments are incidentally delayed due to automatic systems failing and exchange/payments lagging is detrimental to miner and will result in losses.
Scenario where middlecoin payments are consciously delayed due to the system being designed to withhold exchanged payments in order to improve statistics in falling market by creating "lag" and issuing payments at last weeks levels is detrimental to miner and will result in losses.      

[andromeda66]

The pool does payout, you just have to wait a lot of time. A few months ago I mined my balance out, and I eventually got paid.

People who are still mining here either forgot their rig, are newbies that are just finding out about this now and don't have an account here, or people who simply don't care, there's no need for warnings...

I dont think so. If the pool have serious issues wherever they belong, people have to know about if there is a need or not.....for example i need my unpaid balance now and not
in a few month and that there is no one who takes care makes me angry and people should know that!!! 

On May 14th (or even way before) if you came to this thread, you could see this pool was in autopilot. You should relax. No need to post in big red letters, everyone knows what's up. Being angry won't make anyone pay you. Just find a new pool, as everyone here did.

When new miners come to this thread and wants to inform themselves
about the pool and its benefits it seems right to me to warn each one to mine here.
If  you already knew good for you but pls spread your wisdom somewhere else.
I like clean business and took care that middlecoin disappear from poolpicker.
If you only take care to yourselve go on with your live and may stay happy.

Dont mine here...you may wont get pay or with great delay!

[coinGeek]

When new miners come to this thread and wants to inform themselves
about the pool and its benefits it seems right to me to warn each one to mine here.
If  you already knew good for you but pls spread your wisdom somewhere else.
I like clean business and took care that middlecoin disappear from poolpicker.
If you only take care to yourselve go on with your live and may stay happy.

...

You got Middlecoin off poolpicker by saying something that isn't true, so that's nothing to be proud of.

The last time it was on poolpicker it had the highest average return over the previous two weeks. I don't think poolpicker is totally accurate, but it is true that Middlecoin has returns in the same range as the other script pools. (Which these days means not very good )