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

[braytz]

Can i suggest to lower the difficulty fron 512 to 256?

[1714185524]

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[1714185524]

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[1714185524]

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[TierNolan]

That one is Litecoin.

And the 21.2M one you linked earlier is Novacoin.

What about mining the litecoin p2pool rather than the coin directly.  That would lower variance (and no fee if a p2pool node is run directly).

[ranlo]

If I move to FTC/LTC/NVC/etc. I have a 0.1% or lower rejection rate with vardiff. Usually the vardiff ends up being set at around 260 and I have a steady 6.6 MH/s. As soon as I swap back to Middlecoin it all goes downhill again, .

Those 3 coins all have long block times, that's why the reject rate is so low, if this pool is mining them it's the same.

My question is more along the lines of how some people can have massively low rejects while others are ridiculously high.

Case in point (right now):

79.4494    4.5205 (that's < 6%)
19.8996    0.6338 (that's < 2.5%)
11.7441    1.2396 (that's > 10%)
5.0891    0.4940 (that's > 9%) -- this one's mine
5.0891    0.2330 (that's < 4%)
9.4884    1.1558 (that's > 11%)

The variability here is MASSIVE. And it means our earnings are all over the place.

[captainfuture]

some are not submitting stales, and so the stats are wrong imo

[Tigggger]

some are not submitting stales, and so the stats are wrong imo

I have --no-submit-stale and mine is running at 2.4%, so I suspect you are correct.

[kirk46]

IMO its pointless mining LTC on this pool

if i want to mine LTC il go back to the LTC pool i was on...

also the exchange rate LTC/BTC is terrible atm so it cant be that profitable?

[TheSpiral]

IMO its pointless mining LTC on this pool

if i want to mine LTC il go back to the LTC pool i was on...

also the exchange rate LTC/BTC is terrible atm so it cant be that profitable?

BTC is at 117. LTC is at .023. 1 LTC = $2.69
When BTC is at 90 and LTC is at .027, 1 LTC = $2.43
I'm not sure in which world that's terrible.

[ImI]

if ltc is most profitable then of course we mine ltc

why should this pool mine some coin that is less profitable than ltc?

thats bullshit.

[FreedomCoin]

Can BEs and AM Blades be used on this pool? Or only GPUs?

[TheSpiral]

Can BEs and AM Blades be used on this pool? Or only GPUs?

It's Scrypt. There's no profit switching SHA256 that I know of yet. Multipool.us is working on one.

[FreedomCoin]

Can BEs and AM Blades be used on this pool? Or only GPUs?

It's Scrypt. There's no profit switching SHA256 that I know of yet. Multipool.us is working on one.

Ah damn you're right its in the first page. thanks...

[ocmoho]

Should be 128 pool diff on low diff coins.
"512 diff is the same as any other diff" doesnt apply here because were not constantly mining the same coin. It would if we were,but this is a multi pool
I would bet money rejects (good for miners and pool operators as well) would drastically lower if we changed diff on low diff coins.

[Damnsammit]

Should be 128 pool diff on low diff coins.
"512 diff is the same as any other diff" doesnt apply here because were not constantly mining the same coin. It would if we were,but this is a multi pool
I would bet money rejects would drastically lower if we changed diff on low diff coins.

Maybe if you donate a lot of money then h20 would entertain switching the difficulty.

But, if you've been paying attention for the past 60 pages, he has no intention of changing it and doesn't care what anyone says about difficulty.  

Bottom line:  It doesn't affect his profit, so he doesn't give a shit

[ocmoho]

It does affect his profit, if it affects our profitability, plus he said before he raised his fee to 3% for servers.
Lol i have been paying attention, i just keep asking maybe he'll get tired of it haha

[Damnsammit]

It does affect his profit, if it affects our profitability

I don't think so... he gets the same amount whether we submit 1000 shares or 10 shares.

AFAIK difficulty will never effect how many blocks we find.  His profit is 100% affected by hashrate and exchange rate.

It seems to me that if hashrate goes much higher then the exchange rate will actually net him less profits until he manages to direct the hashpower to different coins and the same time.

[ocmoho]

It does affect his profit, if it affects our profitability

I don't think so... he gets the same amount whether we submit 1000 shares or 10 shares.

AFAIK difficulty will never effect how many blocks we find.  His profit is 100% affected by hashrate and exchange rate.

It seems to me that if hashrate goes much higher then the exchange rate will actually net him less profits until he manages to direct the hashpower to different coins and the same time.

Would it not be, if we made more-he made more, because more of our shares are being accepted, our profits are higher(on same hash), so he gets more from our more profits?
lol

lol...nvm i think im getting it, were in the same pool, so it doesnt matter....hmmm...
Yeah, maybe he should make 2 ports, and split us up.

[Damnsammit]

lol...nvm i think im getting it, were in the same pool, so it doesnt matter....hmmm...

Precisely!  The hashrate is the only thing that affects his overall profits.  I brought it up a few pages back that the hashrate might be getting too big, but I haven't researched any of the market orders for the coins we mine.  I just know that if there are coins that would be profitable at 100MH/s but not the current 850MH/s then it would definitely be beneficial for him to divy up the hashrate and spread it out amongst the most profitable coins.

If there aren't enough market orders to fill the sell orders after we mine a coin, then we will cause a dip in the price of that coin and it might not be nearly as profitable as it was when we initiated mining it...

Still a great concept for a pool and he has done a great job.  I just definitely understand why he doesn't care about difficulty

[metamine]

Enough about the difficulty-issue already... statistics and probability will even everything out as long as you keep on mining!

Lets say you have just one GPU 620khs, and compare solo-mining LTC (HIGH diff) and pool-mining (LOW diff).

If you look at it over the course of one day or even one week, the pool will pay you money and solo-mining will probably result in 0 LTC.

- "Aaaargh! The high diff is causing me to loose money!!! GRrrrr!!"

But in reality, and in practice, that is not the case.

Using 620khs a solo-miner would, statistically, expect to find a block in about 70 days at current diff.

So after 70 days, you would find a block of 50LTC. In the same timeperiod, you would get about 50LTC MINUS poolfees from the pool.
In the long run, the two different strategies end up with the same result despite huge differences in difficulty for the shares.
(Yes, it might take more than 70 days, but then think 700 days.. or 7000..whatever)

IMPORTANT => Unless you understand the above, do not consider reading on, read the above part again <= IMPORTANT

The exact same thing applies to mining in a pool with different difficulties. Diff 512 or 128 does not matter. On average, you will get paid the same. It does not really matter if you submit 10 x "512-shares" or 40 x "128-shares" (conceptually).

The only time it would matter, as i see it, is if a coin is mined just a few minutes, so that a small miner does not even get one share submitted. But then again, it would not be a big deal, statistics dictate that what you lose in one period is made up for in another. So all you loose is the difference between profitability between the two coins mined.

I think h2odysee is doing a great job. Look at this pool as your personal-crypto-broker, you give h2odysee a bucket of hashrate, and he uses it as he sees fit. If you do not like the results, go elsewhere, just as you would with your money and a proper stockbrokerage-firm.

The only thing i would like to see is the possibility of him automatically splitting the hashrate in the pool, say:

10MHs KrugerCoin
15MHs Spots
20MHs Fastcoin
Everything else to Litecoin
etc.

(Either automatic or by choice)

Still letting everyone share the profits during a given period for all coins. That way, we can earn more, as we can sell a smaller volume of high-profitability coins with low market-depth.

I am so tired of seeing <whatever>-coin as most profitable, just to find out that the marketdepth is about what i can mine in 2 hours, then it is much less profitable than anything. If we can mine many coins at once and sell them to those (unrealisticly high) prices, the *true* value of each alt-coin would appear. That would automatically stabilize the value of all alt-coins to realistic long-term levels.


Just my 5 cents sitting at the breakfast-table!

/Metamine

[Eastwind]

The only time it would matter, as i see it, is if a coin is mined just a few minutes, so that a small miner does not even get one share submitted. But then again, it would not be a big deal, statistics dictate that what you lose in one period is made up for in another. So all you loose is the difference between profitability between the two coins mined.

For faster coins, if you cannot submit 1 (high difficulty = 512) share, you get paid nothing. So if we mine those coins for 1 hour, the slow miner will earn nothing during that period.

Is that share mined by a single GPU or is it distributed by all GPUs in one rig?

[metamine]

For faster coins, if you cannot submit 1 (high difficulty = 512) share, you get paid nothing. So if we mine those coins for 1 hour, the slow miner will earn nothing during that period.

Is that share mined by a single GPU or is it distributed by all GPUs in one rig?

You would still have the same (proportional) reject/stale-rate as miners with more hashrate. Over time it will even out. But yes, looking at a shorter timespan it looks as if you are not earning anything. Each share is (always) mined by a single GPU. (In reality, by a single thread running on a GPU).

If you mine a fast coin for an hour and can not submit a single share (regardless of stale or not) something is wrong with your setup. If you can submit, but only stales, you have a latency-issue. A closer server or better connection can fix that, but it isn't a diff-problem. Remember, your miner will submit shares (non-solutions, as proof of work to the pool) but also REAL-solutions that are used in the blockchain. So if you find the actual block you will get paid as well, as if it was a ordinary share.

Look at it like this:
If you have 4 GPUs, and stick them all in the same box, you will earn as much as if they were 4 separate computers with a single GPU each.

Total hashrate is all that counts. My advise to all that are worried: Try it out for a few days, and look at the profits/day after a few days (when unmatured balances have been sold) and compare that to your alternatives. Do not look at single days, look at the trend and average.

Every miner has to decide for him/herself what to do and when to call it quits...