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

[karolina]

Also, people seem to forget that Scrypt ASICs allow for more expandability for miners like me, with 11 rigs. I have no room left, I'd be tripping breakers, and too much heat is being generated.

Scrypt ASICs would solve all these problems for me.

So that argument about X number of 280x's costing XXX dollars, isn't totally relevant when trying to compare to ASICs, which can allow much more hashing, with much less power consumption, and much less heat being generated, and taking up a much smaller footprint.

Also applies to people who live in smaller apartments. Suddenly instead of having enough circuits to allow going from 5 MH/s, to being able to power four X 25 MH/s ASICs, will make a huge difference.

You keep forgetting that difficulty will rise like there is no tomorrow. So your going to need more and more and more eventually turning into bitcoin.

Right, because I forgot this very obvious factor, on more than one occasion, with my low post count, which by the way, was completely irrelevant to the statement I was trying to make.    Moron.

[Biggen]

 

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

[karolina]

I don't know about you, but I'm not concerned about Scrypt ASIC's rendering my GPU's obsolete for mining. I'm sure there will be something new to mine anyway.

And what's with the spiteful reply? lol, bunch of kids on here full of hate... seriously.


...and I have a house....

That would be because you have 11 rigs. Sure you have a shit ton of hash cool. but once scypt acis come out. normal people will become obsolete. Like mining bitcoins is now. like it has been said a million times before. Some people don't have a house payment to put out on mining rigs.

I'm not trying to offend you, but if you can't deal with the competitive nature of this business, then it's not for you.

Also, like I said, I wouldn't worry about GPU's becoming obsolete. Quark for example, with the right software, can be mined with a GPU. I'm sure there will be many others. I could be wrong, but in my opinion there is currently too much vested interest here to just let this all die away.

The competitive nature? You start your 11 rigs and go do whatever you do. Then have H20 do the work for you. Oh hey, bitcoin in my wallet. Competitive nature. ha.

How is it not competitive? Do you know what competitive means? lol, whoever has more hash power, earns more coins. It's that simple. If there was no competition, nobody would need ASICs or GPU's. Satoshi would be happily mining away with a few CPU's.

In competition you know your opponent. Who are you battling? For what? No end prize. Mine until you don't want to. Who says how much or little you have to mine? Sorry but mining is not competitive in the sense I am talking.

You don't make any sense kid..

Actually you don't make any sense.  Mining isn't "competitive."  Not in any way shape or form.  This is so, because no matter how high your hash-rate, it does not affect my own earnings.

The only possible way mining could be "competitive," is if you felt some need to earn more than the next guy, and he chose to "compete" with you.

As long as I am happy with my hash-rate, your hash-rate is irrelevant.

Whatever you say, bud. If that's your opinion, then you're entitled to it.

[Gamer67]

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati

[karolina]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

[64dimensions]

Just to chime in, my very stable rig gets about 1 - 1.5% rejects using Litecoin pools and on middlepool, about 5% - 7%.

Here is the ROI issue on tweaking. I am specifically referring to Tweaking that takes the whole rig down.

For the the sake of argument, suppose the rig WU is 1MH/s. If I take the rig down like for 5 mins, then I've lost 300MH.

To earn this missing hashing back in an hour this means my tweak has to result in a hashing rate increase of 8.3% or 83 kH/s.

Or to breakeven from this tweak in a week, about 12 kH/s.

[Zoella]

Sure wish H2o would give us an update with why the personal stat pages arent fooking working.

Love this pool. Just hate the lack of transparency and info when shit breaks.

Another vote for working personal stats page!

[Gamer67]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

I would not sweat it. You should hear the cpu miners cry on new scrypt coin releases

[karolina]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

I would not sweat it. You should hear the cpu miners cry on new scrypt coin releases

I hear you on that one. People treat this like a BUSINESS. They're here to make money. You can't expect to keep earning proportionally if you don't use competitive hardware. One thing you can expect though, is a lot of bitching.

[Neon001]

Actually, as more people do it and increase hashrates collectively, your payout is directly effected as difficulty rises.
competitive might be the wrong word he chose to use, but if you don't continue to expand, eventually it becomes less profitable.

Of course you're right, but really, what's kept this train rolling so long is all the pump and dump scams.  It's speculation, pure and simple.  People out there looking to make a quick 200% ROI by buying Doge at .0000005 and sell at .000001 two days later.  

If this were operating on fundamentals of mining for profit, break even would take 90+ days, if it ever happened.  And that's because of exactly what you're saying.  Just look at the combined hashing power increases in mining ALL Scrypt coins over the last 3-4 months, and imagine Litecoin were the only coin out there and that all that hashing power were applied to it.  It would never be worth it for the miners.  Break even would be at least 90 days from initial investment, and that's extremely optimistic.  

But that's not reality.  In reality, we have the coin of the week.  And a significant portion of the mining power is diverted to it just on the basis that it's momentarily way more profitable than Litecoin.  This brings mining profits back in line with the coins that "count", and the folks mining the coin of the week are making a buck too.  Where does the money come from?  Again, speculators.  In any gig like this, there are a VERY few people that make a ton of cash (pump and dump investor whales), a moderate amount of people that do pretty well (miners), and a TON of people that take it in the rear (speculators).  They're fueling the whole thing.

As long as crypto currency is a commodity and not a currency and exposure continues to grow through media coverage, we should be fine (not speaking of ASICs here).  But hey, who knows.

Just my 2c    

[zneww]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

[ratty]

Difficulty increases variance but has no influence on your average payout.

But most of the time i see that my GPUs are working and new block, new block, new block, but nothing gets delivered even for a minute, this is useless work isn't it?

I thought the same thing, and my miner can take minutes and many new blocks before submitting anything, but I can see from the graphs that I am still submitting at the same rate on average. I'm not sure why, but just look at the graphs for your bitcoin address on the page. It was noticeably more spikey for me with lots of peaks and valleys since the diff went up to 512, but the average should be the same. If its not, then its time to shop around!

[karolina]

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

I said it's treated like a business.

People are in a business to make money.
People mine cryptos to make money. (You wouldn't be doing this otherwise).

In order to maintain profits, you need to use competitive hardware, otherwise your profits will quickly decline.

Either accept this fact, or stop bitching on the Internet about ASICs because that's what started this discussion in the first place.

EDIT:

I finally realized why it's not competitive in your opinion.

You choose not to upgrade. Instead you choose to earn less and bitch more.

Problem solved. You're right, I'm wrong.  You win.

[zneww]

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

I said it's treated like a business.

People are in a business to make money.
People mine cryptos to make money. (You wouldn't be doing this otherwise).

In order to maintain profits, you need to use competitive hardware, otherwise your profits will quickly decline.

Either accept this fact, or stop bitching on the Internet about ASICs because that's what started this discussion in the first place.

EDIT:

I finally realized why it's not competitive in your opinion.

You choose not to upgrade. Instead you choose to earn less and bitch more.

Problem solved. You're right, I'm wrong.  You win.

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

[Biggen]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

[zneww]

Our scuffle has been ended.

That is impressive. You got in at the right time though, correct?

[foodies123]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

mh ?

[karolina]

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

You're choose not to take the risk. No risk, no reward. Same goes for buying ASICs.

Our scuffle has been ended.

That is impressive. You got in at the right time though, correct?

I've still got six 5970's mining since February 2011. They must have ROI'd the equivalent of 300 times over already. Mnius $20 here and there for replacement fans.

Sold lots of BTC. Regretted it each time, but still have enough.

[zneww]

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

You're choose not to take the risk. No risk, no reward. Same goes for buying ASICs.

I mine for for a little extra change. My full time job suffices. Why take a risk when I am comfortable with my life?

[Biggen]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

mh ?

21Mh/s