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

[ranlo]

During the time that I couldn't access the API, I had disabled a couple of low trade volume coins because I was concerned about having a large volume to trade.

I was worried about low trade volume thing. If someone knows the coins you have in your mining list and they mean to do your pool harm they could buy up a bunch of low volume coin so the price goes up and your pool will automatically start mining it and you wont be able to sell at the price that it was propped up to because its so low volume.

Any intelligent algorithm would only look at the buy orders, and also look far down enough to get an average price of the expected amount of coins that will be mined..

This is what I'm hoping for... if the algorithm used is looking at sell prices there's an issue -- things are only worth what people are willing to pay.

Can we get some clarification on how this works with the pool?

[h2odysee]

This is what I'm hoping for... if the algorithm used is looking at sell prices there's an issue -- things are only worth what people are willing to pay.

Can we get some clarification on how this works with the pool?

When calculating which coin to mine, it looks at past trades. Not sell orders, or buy orders.

I see your point. I should make that change. Then I wouldn't really have to worry about trade volume being an issue.

[ranlo]

This is what I'm hoping for... if the algorithm used is looking at sell prices there's an issue -- things are only worth what people are willing to pay.

Can we get some clarification on how this works with the pool?

When calculating which coin to mine, it looks at past trades. Not sell orders, or buy orders.

I see your point. I should make that change. Then I wouldn't really have to worry about trade volume being an issue.

Yeah, that would be perfect, . Can you update us when that has been made btw? Mostly curious so I can keep up with how things transition based on different changes.

[kirk46]

how are people getting with the disconnections etc now?

[h2odysee]

Yeah, that would be perfect, . Can you update us when that has been made btw? Mostly curious so I can keep up with how things transition based on different changes.

Ok. Now when computing the price for determining what to mine, it looks at the buy orders, and my volume plus what the pool would produce in a minute.

[ranlo]

Yeah, that would be perfect, . Can you update us when that has been made btw? Mostly curious so I can keep up with how things transition based on different changes.

Ok. Now when computing the price for determining what to mine, it looks at the buy orders, and my volume plus what the pool would produce in a minute.

Awesome! That should boost the revenue as well since it's taking into consideration what we can sell NOW rather than just "maybe at some point."

[kirk46]

pool seems to change coin very often!

sometimes im not even submitting any work before it jumps to a different coin

ive watched it and in the last 5-10mins its changed like 3-4 times 

[h2odysee]

ive watched it and in the last 5-10mins its changed like 3-4 times  

Yeah, that's not ideal, since it takes a second (maybe 2) to switch. I need to either make switching more seamless, or make it switch less often.

The recent change I made to the profit calculation is making it switch more often, if two low volume coins are at the top, competing.

[kirk46]

i see

[metamine]

Try to make the switching more seamless, my fans RPM and  GPU-temps are all over the place when the switches occur.

Perhaps make the switch gradual using two pools/coins, not having everyone switch at once, but rather switch when the fetch the next workitem / submit a share.
That would make the switch happen over perhaps a minute or two, where two coins are mined at once until everyone has switched.

Also, perhaps only switch coin every hour or 30min, as it still takes some time to transfer the funds to cryptsy and sell them?

[sikman]

With the switching of coins how about setting a limit that it will only switch if its > than 5-10% from what you are currently mining.

eg:
if its mining FASTCOIN and its at 301% and a few minutes later Franko coin is 307% then it will continue to mine until the next coin is at least 315%

[Kuroth]

Now My MH rate reported on middlecoin is now about 200 MH lower that what CGMiner is reporting.  It was showing 200 Higher on middlecoin the other day..

Just curious..  What causes the difference?  And which one is the more accurate one?  What MiddleCoins shows or what CGMiner shows?


I read somewhere a while back that the “WU” figure in CGMiner is what is most accurate and what tells you your true Hash rate you are getting....  Is that true?

[captainfuture]

i will have an eye on this pool.
atm i am switching with cgwatcher. works fine. but i dont know if i earn more than i would on ltc.

[ranlo]

i will have an eye on this pool.
atm i am switching with cgwatcher. works fine. but i dont know if i earn more than i would on ltc.

The difference is the pool also auto converts the coins to BTC. Just mining the "best" doesn't matter if you're not also converting them asap.

[Kuroth]

Ok..  My Hash rate is back up to what it should be..  I am at work so it could have been CGWatcher restarting the Miner..  I think I restart it every 4 hrs..


How often to you guys restart your miners?

[romantic1]

Base on the diff, you are mining mincoin now ! It's strange because mincoin is the 20th on coinchoose !

[captainfuture]

i will have an eye on this pool.
atm i am switching with cgwatcher. works fine. but i dont know if i earn more than i would on ltc.

The difference is the pool also auto converts the coins to BTC. Just mining the "best" doesn't matter if you're not also converting them asap.

i know.

i dont sell all coins asap. i have coins i hold too.
so its atm the best for me.

[JohnyBigs]

I'm making the same as mining litecoin or very little bit over. OP you need totell people the list of coins you are supporting , it doesnt need to be like multi pool where we are currently mining this, but a list of all the coins your pool supports. Because if you aren't mining alpha, franko, fastcoin, pretty much every coin on coinchoose then this pool is useless.

Those coins in the last 24hrs have had revenues with my hash is the $40-60 range, so there is no reason that i should be at LTC numbers if your pool is doing what its claiming to be doing.

Its either your pool set up and algorithim, or you are not mining all the coins. You need to be a bit transparent the next few days so we can all help you figure out whats wrong and if everything is working properly, than once its solved you can keep the mining info private again.

Also, my hash still shows of by 1mh/sec. Im jumping off the pool for now as it serves no real benefit. Hopefully you listen to some of my advice.

[Fallout]

You can tell pretty easily which coin it is mining ...

Currently it is fastcoin ... Difficulty shown by cgminer: 63.5k

divided by 65532 = 0,96899 = Difficulty of Fastcoin (according to coinchoose)

[JohnyBigs]

Speaking on the algorithim you should change it as one person mentioned based on the buys. I would go a step further and even calculate how many coins the combined hashing power will make and if there is enough volume to take the sell orders. And switch based on a combination of these factors.

The algo should keep scanning the prices for example say we just sold 30k coins and the price went down, where its unprofitable then go to next coin until that buy support gets taken out also then next ect.

This is just off the top of my head im sure if we all actually think about it could make it even better.