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

[Kuroth]

Idea..  And not even sure it would be possible to do on H20’s part.  And it could make a lot of people mad possibly..  And not even sure it would be a good strategy.

Keep in mind I have no idea how H20 does his backend Trading and Exchanging so this might be a dumb idea..

But throwing it out there anyway just in case.. (Please don’t flame me) 

What if instead of a daily payout, we got paid only once or twice, or several times a month?

Back when I use to mine LTC I would always wait, sometimes 2 or 3 weeks, for the price of LTC to come up to $3 or more before I would trade it in for BTC..   

Not sure this could be managed and done with all the coins we mine here but if there is a pattern with these other coins like LTC (It always seems to go back up to $3 at some point), I wonder if this could net us more in the long run?   

Like for example we are mining let’s say LTC, and then whatever Logic H20 uses determines that LTC is not the most profitable and we switch to mining something else..  Instead of Exchanging out the LTC at that moment, maybe wait until the next time LTC becomes the most profitable and Sell our LTC at the same time we are switching to mine it? 

In other words, each time we switch to mine we sell those same previous mined coins at the same time..

Of course it’s all a gamble and H20 said in one of the early posts that he sells pretty fast… 

So not sure..

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[Eastwind]

The profitability of a coin depends not only on the price, but also on the difficulty level. So a coin is profitable to mine at one time, does not necessary mean it will be profitable to sell at another time.

What you suggest is a trading strategy, it is not applicable to this pool as it introduce another variable (timing). I do not think we can time the selling rightly as we do not control the market.

So always selling at the earliest time permitted could be less profitable, but in long term, it might even out.

Just my 2c.

[h2odysee]

Back when I use to mine LTC I would always wait, sometimes 2 or 3 weeks, for the price of LTC to come up to $3 or more before I would trade it in for BTC..   

Yeah, we'd make more money if I have my trading algorithm be less aggressive, and take weeks to sell. But I don't think it would be a huge increase. And it would increase our variance.

[Kuroth]

Makes sense..   Thanks guys..

[Kuroth]

Going to be firing up 1.3 more MH tonight on middlecoin..   

[FatMagic]

If you can't handle a few substandard payouts you should either move on or offer something constructive.

Exactly.

For the last 28 days the average payout has been 263.46% Spreadsheet Here this is based on the actual amount received

YipYip, because there are multiple coins and some take days to mature and be sold, adding those 3 columns together gives you an idea of a daily rate but you really need to give it time to settle down and evaluate over a longer period of time using the amount received.

As I've said before it is highly likely that using something like CGWatcher and spending time adding new coins, transferring and selling them will be more profitable but from past experience of doing that, the gains compared to the time spent for me isn't worth it.

Tigger love the spreadsheet - any chance can you add a daily comparison column to what you "could" have mined in LTC if you spent the day mining that instead? Obviously would be an estimate, and not perfect. If you don't, that's fine. I'm using your spreadsheet as reference if I want to switch to the Middlecoin pool or not.

[YipYip]

Heading for another 1 btc pay out

It is tracking +10% on LTC so I am starting to relax

Monthly payouts ...

1) I will do my own trading thanks

2) There have been many pools being either hacked or ripping pplz mining profits ...as a big miner the idea of leaving $3000-4000 on somebodys system really dose not fill me with much joy and I dont think h20 wants to become prime hacker target no 1 ...lolz

Anyway have got another big miner to come onboard with 40 mhash.....

[Jriker1]

Kuroth. Monthly payout thing. Not a fan. Don't want to have to wait a month to get my currency. Guess that depends if you aren't making much a day but I don't want numerous bitcoins sitting out there that I can't sell or do anything with.  This pool already provides me the least control over when I cash out then other pools, however daily makes it ok. Monthly I'm going elsewhere.

JR

[Kuroth]

Kuroth. Monthly payout thing. Not a fan. Don't want to have to wait a month to get my currency. Guess that depends if you aren't making much a day but I don't want numerous bitcoins sitting out there that I can't sell or do anything with.  This pool already provides me the least control over when I cash out then other pools, however daily makes it ok. Monthly I'm going elsewhere.

JR

Guys I was just thinking out loud and H20 already put my idea to rest up above..  Dont Panic..  Was just a wild idea..

[Wipeout2097]

In all honesty, he didn't say strictly monthly payouts. He said:

What if instead of a daily payout, we got paid only once or twice, or several times a month?

That could mean each 3, 5, 7, 10, whatever days. How about passing this parameter on the password field or elsewhere (if it isn't too much trouble to support on the trading scripts), and let everyone set his own tradeoff between profitability and waiting time for payouts?

[Destiffmast]

I don't know if anyone else is having this problem, but its rather annoying. I have 4 gpus in a rig should be a total 0f 1500 hash, or min of 1300 hash, in the past few days my addy don't show me above 0.600mhz accepted how could that be? It worked alright first week only started doing that now without changing any settings.

Any idea what it might be?

[overseer470]

I don't know if anyone else is having this problem, but its rather annoying. I have 4 gpus in a rig should be a total 0f 1500 hash, or min of 1300 hash, in the past few days my addy don't show me above 0.600mhz accepted how could that be? It worked alright first week only started doing that now without changing any settings.

Any idea what it might be?

i'm also mining for 3 days straight @ 1200khash/sec and it's only showing 800, also i got nothing yet and my balance shows as 0.007
this entire thing seems like a scam to me, there is no way there's this much reporting lag, i'd get 10-20 times whatever this gets me if i mine litecoin straight up

[Kuroth]

It seems daily payouts have been overall low the last 10 days..  Today looks to be another pretty so so day...  Since H20 does not tell us much, I can only assume it's because the price of BTC is going Higher?

[TheQuin]

It seems daily payouts have been overall low the last 10 days..  Today looks to be another pretty so so day...  Since H20 does not tell us much, I can only assume it's because the price of BTC is going Higher?

Look at your payouts in USD rather than BTC. The LTC/USD rate is flat while BTC goes up so returns from scrypt mining go down in BTC terms but are the same in USD terms. BTC is a defacto currency, ie you can spend it, the copy coins we mine are just tokens to be exchanged.

[Kuroth]

It seems daily payouts have been overall low the last 10 days..  Today looks to be another pretty so so day...  Since H20 does not tell us much, I can only assume it's because the price of BTC is going Higher?

Look at your payouts in USD rather than BTC. The LTC/USD rate is flat while BTC goes up so returns from scrypt mining go down in BTC terms but are the same in USD terms. BTC is a defacto currency, ie you can spend it, the copy coins we mine are just tokens to be exchanged.

That's actually a good point..

[Wipeout2097]

I've read the thread and see that people complain about low payouts in the recent days, that they should be mining straight LTC ...

Then just do so. Or make constructive contributions. How would YOU trade the alt-coins? How do you predict that someone will dump a large amount of the coin on an exchange and make it worthless? How to decide switching from a profitable yet volatile coin?

Or setup your own most profitable coin pool, with BTC payouts.  I'll be satisfied if you charge me a 10% fee.

I'm getting crappy payouts atm, yet I have only myself to blame to not finding out and joining a few weeks ago. Not the pool operator. I've seen those fat payouts at the site and the good mood of the posts itt, dating from the beginning of August.

I have no rig to compete with the difficulty of directly mining BTC. I can go up to 1 Gh on SHA2, but it is foolish to mine, considering the heat, noise and power cost. Getting bitcoins by mining scrypt without any effort of manual trading obscure coins is a service with amazing value, let alone when the pool gives me higher payouts than mining LTC. I have an LTC pool as failover on my setup though, but I'll keep sending my humble 800 Kh to middlecoin for a while.

I have a suggestion to the pool operator: increase your fee to the point that you feel comfortable dedicating more time and effort to this project or perhaps hire someone. It is so unique and useful. I don't mind paying a (much) higher fee, specially if I could connect to an EU server. I can also help with programming or bandwidth or donations.

[Wipeout2097]

Currently I'm load balancing between middlecoin, LTC and the most profitable I found at coinwarz

I get lots of disconnects and rejected/discarded work at middlecoin. Europe is very far from West US and the difficulty of the pool is too high

[Eugen3]

Currently I'm load balancing between middlecoin, LTC and the most profitable I found at coinwarz

I get lots of disconnects and rejected/discarded work at middlecoin. Europe is very far from West US and the difficulty of the pool is too high

When I tried load balancing, it didn't seem very balanced at all.  Granted, though, I didn't let it run for very long.  Does anybody use a load balancing strategy with success?

[CoinBuzz]

Do u have any plans to add new coins for making more profit ?

[hendo420]

Do u have any plans to add new coins for making more profit ?

I think the problem is that the pool is too big for the most profitable coins.