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

[rpg]

my numbers have been really low the past 2 days. what is going on? this used to be the most profitable pool around. i know the difficulty is rising and the price of ltc dropped but it still seems really low.

Look up on the same page or go here: https://bitcointalk.org/index.php?topic=259649.msg3871904#msg3871904

The answers to your question are there.

Not really. At least in my case the problem is not unexchanged currency. Its that I don't earn as much as I did until friday. This morning I received .0098 at a 1220 Kh/s rate. Does that seem normal? I only have .0006 unexchanged right now and .009 immatured. These are low figures.

Yeah that is quite low.  In my case I have 0.02 immature due to the exchanges issue. 
In your case, don't know.  We could also be affected by the crazy drop in BTC yesterday that pulled the Altcoins down with it.

yesterday there were 12 hours with no blocks at ll (as per graph). But the pool is getting way too big making a huge impact on the coin where it lands. Maybe is time to go mine as per coinchoose

[panckage]

But the pool is getting way too big making a huge impact on the coin where it lands. Maybe is time to go mine as per coinchoose

If this is the case I hope H20 splits the pool so we are mining the top 2-3 currencies (or however many are needed) to reduce our impact on prices

[limburatorul]

But the pool is getting way too big making a huge impact on the coin where it lands. Maybe is time to go mine as per coinchoose

If this is the case I hope H20 splits the pool so we are mining the top 2-3 currencies (or however many are needed) to reduce our impact on prices

And how do you propose he does that?
This sounds like ditching more than half of the miners using this pool...

[panckage]

And how do you propose he does that?
This sounds like ditching more than half of the miners using this pool...

Not at all. If too many coins of a single currency are sold at the same time there comes an oversupply, thus the price can go down quickly. The point of  balancing over many currencies is to reduce the chance of oversupply of any single currency at any point in time.

This can be done, for example,  by finding out how quickly a currency drops once middlecoin starts mining it to the point when middlecoin has sold all the currency. It also needs to be done with the same currency without middlecoin mining it to find out the effect middlecoin has.

There's more steps that need to be done. Its just educated trial and error to develop this but its pretty straight forward to do. Its basic statistical analysis

To answer your question specifically the pool will load balance the different currencies being mined

[limburatorul]

Thanks for clearing this out.
From the sounds of it its still a lot of work. Also you can't predict the time from whe a currency is more profitable to when its not. Thats not a statistic that can be calculated. Also taking in consideration the maturity of each coin. This can be calculated with +/- some minutes depending on the network hash rate and the coin but combined with the profitability window it gets slippery.

[panckage]

You are welcome.

From the sounds of it its still a lot of work.

Not really. H20 is making good money. This will increase his profits as well. The algorithm is known as "load balancing."  When the internet was first created the same algorithm was used to smooth things out.

Also you can't predict the time from whe a currency is more profitable to when its not. Thats not a statistic that can be calculated.

This is exactly what statistics is. You use statistics to calculate probabilities of what each coin will be worth at maturity. Back test over data and you can do quite well.

[Doom4535]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end?  or are you talking about balancing the selling of mined coins (or both)?

[panckage]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end? 

Yes that's it

[rocks]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end?  

Yes that's it

I've been wondering why that isn't the default approach for awhile now.

It makes much more sense to spread out the hashing power over the top 4-5 coins, with weighting based on profitability (i.e. the 5 five coins could get: 30% then 25%, 20%, 15%, 10%). This way if the price drops on the coin you've been mining, the impact is much less.

It also utilizes the pool's hash rate better. For example let's say the target coin has a low hash rate around 50Mh/s, in this case allocating 100% of the pools 1.6Gh/s at the coin is no better than allocating 33% (around 500Mh/s), both will capture almost 100% of the coin's blocks, but this frees up hashrate for other coins as well.

[alexb___]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end?  

Yes that's it

I've been wondering why that isn't the default approach for awhile now.

It makes much more sense to spread out the hashing power over the top 4-5 coins, with weighting based on profitability (i.e. the 5 five coins could get: 30% then 25%, 20%, 15%, 10%). This way if the price drops on the coin you've been mining, the impact is much less.

It also utilizes the pool's hash rate better. For example let's say the target coin has a low hash rate around 50Mh/s, in this case allocating 100% of the pools 1.6Gh/s at the coin is no better than allocating 33% (around 500Mh/s), both will capture almost 100% of the coin's blocks, but this frees up hashrate for other coins as well.

brillant! if middlecoin don't do it 1st, others will do!

[Eastwind]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end?  

Yes that's it

I've been wondering why that isn't the default approach for awhile now.

It makes much more sense to spread out the hashing power over the top 4-5 coins, with weighting based on profitability (i.e. the 5 five coins could get: 30% then 25%, 20%, 15%, 10%). This way if the price drops on the coin you've been mining, the impact is much less.

It also utilizes the pool's hash rate better. For example let's say the target coin has a low hash rate around 50Mh/s, in this case allocating 100% of the pools 1.6Gh/s at the coin is no better than allocating 33% (around 500Mh/s), both will capture almost 100% of the coin's blocks, but this frees up hashrate for other coins as well.

This is a good idea if we are the only or major multipool. If other big pool only mine the highest profit coin, the highest weighting coin (most profitable) we are mining will also drop in profitability.

We can use a very small percentage of our hashing power for the lower difficulty but very profitable coins so that the difficulty will not rise dramatically.

[alexb___]

Panckage, are you suggesting making middlecoin into several pools and then spitting the miners up amongst them (such as middlecoin1, middlecoin2, middlecoin3) and having them all use middlecoin as the front end? 

Yes that's it

I've been wondering why that isn't the default approach for awhile now.

It makes much more sense to spread out the hashing power over the top 4-5 coins, with weighting based on profitability (i.e. the 5 five coins could get: 30% then 25%, 20%, 15%, 10%). This way if the price drops on the coin you've been mining, the impact is much less.

It also utilizes the pool's hash rate better. For example let's say the target coin has a low hash rate around 50Mh/s, in this case allocating 100% of the pools 1.6Gh/s at the coin is no better than allocating 33% (around 500Mh/s), both will capture almost 100% of the coin's blocks, but this frees up hashrate for other coins as well.

This is a good idea if we are the only or major multipool. If other big pool only mine the highest profit coin, the highest weighting coin (most profitable) we are mining will also drop in profitability.

We can use a very small percentage of our hashing power for the lower difficulty but very profitable coins so that the difficulty will not rise dramatically.

H20, what do you think of this. And is it technicaly not to complicated? it could dramaticly improve incoms no?

[h2odysee]

H20, what do you think of this. And is it technicaly not to complicated? it could dramaticly improve incoms no?

I looked at doing this a while ago, and wrote a lot of the code to do it. But it turned out to be a lot harder than I thought. I'll probably revisit it at some point. There are other priorities for now.

[mdewals]

How often is the frontpage updated? Been mining for roughly 10 hours now but I'm not showing up on the page yet. My miner did accept several shares.

[h2odysee]

How often is the frontpage updated? Been mining for roughly 10 hours now but I'm not showing up on the page yet. My miner did accept several shares.

It updates every 5 minutes or so.

I don't see any shares submitted by your address. Either accepted or rejected.

[mdewals]

I'm using guiminer

Server = other
host = middlecoin.com
port = 3333
username = 1LKrd1Ysa6a6DntcZYLfwdm7DKPTQVWR3u
password = blabla  (as it says it can be anything)


did I do anything wrong?? I have over 150 shares accepted

[h2odysee]

I'm using guiminer

You need to be using guiminer-scrypt, or some other scrypt-capable miner.

[limburatorul]

H2O, any word on the earnings drop this weekend?
Altcoins have regained some of the ground lost but doesn't seem earnings gone up.

[h2odysee]

H2O, any word on the earnings drop this weekend?
Altcoins have regained some of the ground lost but doesn't seem earnings gone up.

Part of it was a performance issue in one of my pools, which I have since fixed.

[limburatorul]

H2O, any word on the earnings drop this weekend?
Altcoins have regained some of the ground lost but doesn't seem earnings gone up.

Part of it was a performance issue in one of my pools, which I have since fixed.

Ok, thanks for the prompt fix.