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

[groovy9]

Ok, so I've been looking at the profitability of Middlecoin going back to last year.  In a nutshell, my math says back in September and October, at  least for the stretches of time that I could actually fine numbers, folks would have been netting out around $2.35/Mhash/day USD using the Coinbase price at the time.

Starting in December, after the price of Bitcoin went through the roof, that number jumped to $13/Mhash/day.

For the past three days, it's been $11 to $16.  

At $2.35/day using 450 watts at $0.10/kwh, a person would have spent $30/mo on electricity and taken in $70 from mining, for a profit of $40/mo.  If hardware cost was $700 (which is lowish for 1Mhash), you'd have been looking at 18 months to break even.

So... what was the draw way back when this pool started up?  At $10+/Mh/day, it's a no-brainer.  But that seems to be very recent.  I feel like I'm missing something somewhere...

The draw was the same as now.... max profits (i.e. much better than straight LTC), paid out daily in BTC.

Before DOGE launched (mid-December), the pool was less than 2 GH/s. Now it's ten times that.

My point is that in September, the math added up to very poor profitability.  It might have been less poor than mining LTC or any specific coin, but still poor.  Before the profitability shot up, were folks simply putting their gaming cards to use, as opposed to deploying $2000+ rigs specifically for profit?

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[Damnsammit]

My point is that in September, the math added up to very poor profitability.  It might have been less poor than mining LTC or any specific coin, but still poor.  Before the profitability shot up, were folks simply putting their gaming cards to use, as opposed to deploying $2000+ rigs specifically for profit?

Poor profit doesn't really matter.  I think the majority of miners hold their coins anyways.  I was making 0.01-0.03btc/day with my 700kH/s rig, but that is worth much more now than it was back then.  So since I held, wasn't I technically making $8-24/day back then?

Next week I am going to build two real rigs so I can get about 5MH/s total power. 

[groovy9]

My point is that in September, the math added up to very poor profitability.  It might have been less poor than mining LTC or any specific coin, but still poor.  Before the profitability shot up, were folks simply putting their gaming cards to use, as opposed to deploying $2000+ rigs specifically for profit?

Poor profit doesn't really matter.  I think the majority of miners hold their coins anyways.  I was making 0.01-0.03btc/day with my 700kH/s rig, but that is worth much more now than it was back then.  So since I held, wasn't I technically making $8-24/day back then?

Next week I am going to build two real rigs so I can get about 5MH/s total power. 

Ok, so basically, my math is right and I just happened to wander across this stuff right after it turned from speculative to profitable.

[Catswold]

EAst is back up.

Also discovered why my rate was so low . . . my CPU mining (XPM) was using 8 thread instead of 6 so I was dragging my GPU's down.  

EDIT:  Well I have one of my workers on useast, but the other won't connect, so still some problems with useast, apparently.

Is XPM worth mining ? I told my cousin to try it with an I5 4670k clocked @4.2ghz at he said it was earning pennies a day , Is he a nob and doing something wrong ? I haven't got a proper CPU around to test for myself.

Probably not, but since I have both computers running anyway and it doesn't lessen my GPU mining rate, I figure why not?

With my 7 threads on an 8320 and 6 on my 8350, I average about 1/3 XPM/day.  There's a whole lot of luck involved in mining primecoin, but on average that's pretty solid.

[DLXS]

One question, now u get about 0.01 btc per MH/s. Is it stable overtime? Or it was more/less before and it has changed? Thanks

[captainbluff]

One question, now u get about 0.01 btc per MH/s. Is it stable overtime? Or it was more/less before and it has changed? Thanks

It's more or less, it all depends on how hot the alt coin market

[The Fat Miner]

EAst is back up.

Also discovered why my rate was so low . . . my CPU mining (XPM) was using 8 thread instead of 6 so I was dragging my GPU's down.  

EDIT:  Well I have one of my workers on useast, but the other won't connect, so still some problems with useast, apparently.

Is XPM worth mining ? I told my cousin to try it with an I5 4670k clocked @4.2ghz at he said it was earning pennies a day , Is he a nob and doing something wrong ? I haven't got a proper CPU around to test for myself.

Probably not, but since I have both computers running anyway and it doesn't lessen my GPU mining rate, I figure why not?

With my 7 threads on an 8320 and 6 on my 8350, I average about 1/3 XPM/day.  There's a whole lot of luck involved in mining primecoin, but on average that's pretty solid.

Ahh ok thanks, So not worth it unless the machine is running anyway

[SheepOnDrugs]

In the last days I got about 1.3 per MHash.

EDIT: OFC I mean .013 BTC

[Biggen]

In the last days I got about 1.3 per MHash.

1.3 BTC per Mhash or .013 BTC per Mhash?  I'm betting on the latter.

[The Fat Miner]

In the last days I got about 1.3 per MHash.

1.3 BTC per Mhash or .013 BTC per Mhash?  I'm betting on the latter.

If it was 1.3 BTC I would buy his rig lol

[SheepOnDrugs]

Haha yes, my fault.
I meant .013 :p

[blueriver]

Is there a way to get work difficulty to be adjustable? With work difficulty at 1012, it's hard for those with very low-end mining rigs...

[jfloresk8]

Is there a way to get work difficulty to be adjustable? With work difficulty at 1012, it's hard for those with very low-end mining rigs...

I think the difficulty is static at 512 not 1012. And although you won't be getting shares rapidly, they are still worth more than a share of say diff 16. You'd have to some math to find if a vardiff server is more profitable or not.

[elpsycongro]

Is there a way to get work difficulty to be adjustable? With work difficulty at 1012, it's hard for those with very low-end mining rigs...

I think the difficulty is static at 512 not 1012. And although you won't be getting shares rapidly, they are still worth more than a share of say diff 16. You'd have to some math to find if a vardiff server is more profitable or not.

wasnt difficulty increased to 1024 from 512? did it go down to 512 again?

[Catswold]

Is there a way to get work difficulty to be adjustable? With work difficulty at 1012, it's hard for those with very low-end mining rigs...

I think the difficulty is static at 512 not 1012. And although you won't be getting shares rapidly, they are still worth more than a share of say diff 16. You'd have to some math to find if a vardiff server is more profitable or not.

No difficulty is set at 1024.

[fyff]

Well Doge/Moon craze is almost over time to move on...

[ckoeber]

Was it just me or did the Oregon server go out? I am on the Northern VA server now.

Just checking...

[envy2010]

...

I notice diff is 1K, so that's 0.4-0.6 WU for the best GPU (per unit) made.  That's only submitting 1 block per 1.5-2 minutes....  Isn't it odd to have a difficulty this high, when several of the coins being mined here are not above 1K difficulty for the network?

...

Scrypt difficulties are actually share difficulty / 65536. For example, the network difficulty for DOGE is 1147, but you have to find a 75,200,000 share to solve a block.

The 1024 share difficulty is equivalent to a network difficulty of 0.0156, and very few profitable coins have diffs that low.

where 75,200,000 comes from?

From 1147 (current DOGE difficulty) * 65563 (the factor you have to multiply share difficulty by to get scrypt difficulty) = 75169000ish

[envy2010]

Ok, so I've been looking at the profitability of Middlecoin going back to last year.  In a nutshell, my math says back in September and October, at  least for the stretches of time that I could actually fine numbers, folks would have been netting out around $2.35/Mhash/day USD using the Coinbase price at the time.

Starting in December, after the price of Bitcoin went through the roof, that number jumped to $13/Mhash/day.

For the past three days, it's been $11 to $16.  

At $2.35/day using 450 watts at $0.10/kwh, a person would have spent $30/mo on electricity and taken in $70 from mining, for a profit of $40/mo.  If hardware cost was $700 (which is lowish for 1Mhash), you'd have been looking at 18 months to break even.

So... what was the draw way back when this pool started up?  At $10+/Mh/day, it's a no-brainer.  But that seems to be very recent.  I feel like I'm missing something somewhere...

The draw was the same as now.... max profits (i.e. much better than straight LTC), paid out daily in BTC.

Before DOGE launched (mid-December), the pool was less than 2 GH/s. Now it's ten times that.

My point is that in September, the math added up to very poor profitability.  It might have been less poor than mining LTC or any specific coin, but still poor.  Before the profitability shot up, were folks simply putting their gaming cards to use, as opposed to deploying $2000+ rigs specifically for profit?

Before BTC shot up around the end of November, $700 would get you almost 2 MH/s if you shopped right (7950s were under $180 on ebay). Break-even was about 6 months. Hardware prices more than doubled since then.

[khm]

new beta server:
amsterdam.middlecoin.com