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

[h2odysee]

I'm announcing www.middlecoin.com

It's a new mining pool with several features.

- Switches to the most profitable coin to mine, like multipool.in, but with several more coins. The switching code is accurate and fast.
- Automatically exchanges coins for bitcoins, and pays miners entirely in bitcoins.

There is no registration. Simply connect your scrypt miner to middlecoin.com:3333 or 8080 with your bitcoin address as your username, and any password. Payouts are automatic, and occur once a day, if your balance is greater than 0.01 BTC, or if you haven't been paid out in 7 days and your balance is greater than 0.001 BTC.

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

The pool's IRC channel is #middlecoin on FreeNode.

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[iANDROID]

Nice! Testing it for a while.

You should show the current mined coin.

[h2odysee]

You should show the current mined coin.

Unfortunately I think that showing the current coin would make a bunch of people switch to mining that, lowering our profits.

I have toyed with the idea of giving coins aliases. I might do that.

If you can think of any ways to give miners more information, without spilling the beans on the coins, let me know.

[Eli0t]

You should show the current mined coin.

Unfortunately I think that showing the current coin would make a bunch of people switch to mining that, lowering our profits.

this already happens on much bigger sites, eg coinchoose

[reb0rn21]

I will test it for a day, so far some stall and a bit of rejects

[peonminer]

How many uBTC can one expect from 2,000KH/s per 24 hours? one uBTC = 0.000001000 BTC

[h2odysee]

I will test it for a day, so far some stall and a bit of rejects

I'm getting about 0.4% rejected myself. Can you post your rejected percent, and your location? Or PM me?

I'm on the west coast, and so is the pool.

[mercSuey]

I'm announcing middlecoin.com

It's a new mining pool with several features.

- 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'd try it out if you had a more detailed ledger system regarding:

-what coin the port is mining and history of times of what the port mined
-where the coin will be exchanged
-time of exchange, so to confirm with trading ledger of the exchange

I want to be in control of my own funds, but there are times when too busy with work or on a trip that services like this will be useful. 

[reb0rn21]

I will test it for a day, so far some stall and a bit of rejects

I'm getting about 0.4% rejected myself. Can you post your rejected percent, and your location? Or PM me?

I'm on the west coast, and so is the pool.

I am from EU/serbia
1 rig 75A/5R
2nd rig 116A/15R

[h2odysee]

How many uBTC can one expect from 2,000KH/s per 24 hours? one uBTC = 0.000001000 BTC

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.

[peonminer]

I really think the mysteriousness of the workings of this site will deter MANY more people than you are trying to keep away from the site's "uber secret coin identity" thing. Best bet, reveal all of the information. We are statistics and fact based community(the smart ones). Reveal the information, and you will get my hash. Don't reveal, we will stick to multipool.in

[nearmiss]

I'm announcing middlecoin.com

It's a new mining pool with several features.

- 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'd try it out if you had a more detailed ledger system regarding:

-what coin the port is mining and history of times of what the port mined
-where the coin will be exchanged
-time of exchange, so to confirm with trading ledger of the exchange

I want to be in control of my own funds, but there are times when too busy with work or on a trip that services like this will be useful.  

Agree on this one.  This idea is the next logical step beyond multipool, but the key is to be completely transparent to your users.  I doubt listing the coin the pool is mining is somehow going to drastically affect any profits.  Everyone has access to the same price, diff, history info, and while perhaps you've come up with the best algorithm ever,  I can't see how mentioning the mined coin is going to be worth not being transparent to people.  

At the very least, have the detailed ledger listed above, so if you don't want people seeing what is being mined right now, at least they can see what was previously mined, and importantly, what their mining profits were sold for in terms of btc.

Closed and secretive does not generally work well among this community.

[peonminer]

How many uBTC can one expect from 2,000KH/s per 24 hours? one uBTC = 0.000001000 BTC

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.

.10540000 BTC .. not bad.

[h2odysee]

I will test it for a day, so far some stall and a bit of rejects

I'm getting about 0.4% rejected myself. Can you post your rejected percent, and your location? Or PM me?

I'm on the west coast, and so is the pool.

I am from EU/serbia
1 rig 75A/5R
2nd rig 116A/15R

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.

[peonminer]

Closed and secretive does not generally work well among this community.

This is key. Multipool.in gives in depth statistics to it's users, and gives a daily (24 hour) recollection of profit.

I know on the site it says fees are less than 3%, but what about trading fees? Are you taking a trader's fee as well? Very important to know these things... because at the rate I am mining on multipool.in, I make the exact same BTC amount in coins that I am free to trade or hoard.

[Isotactic]

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.

Right now im at 92A/6R, from AZ. So pretty close to the server, and my stats arent that much better.

[h2odysee]

I know on the site it says fees are less than 3%, but what about trading fees? Are you taking a trader's fee as well? Very important to know these things... because at the rate I am mining on multipool.in, I make the exact same BTC amount in coins that I am free to trade or hoard.

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.

[ilostcoins]

Can you make a version for Litecoin? Being paid in uBTC is depressing IMO. 

[h2odysee]

Can you make a version for Litecoin? Being paid in uBTC is depressing IMO. 

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.

[ilostcoins]

Do you do the currency exchange by hand? Automatically every hour?