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

[jam3zs]

Hey guys, I'm a bit of a noob to middlecoin, I've only been mining here a couple of days but it seems pretty awesome so far! Major props to H2o!

I do have a question though; I was trying to predict how much currency I'd be receiving each night but my calcs seem to be pretty off. Can I simply do the following?: (Immature Unexchanged Balance + Unexchanged Balance) - 3.88% ?

In fact I was doing this equation then dividing by the number of hours since the last payout to get an estimated mining rate but what I ended up with in my wallet was about two thirds of what I was expecting. Or am I looking at this too simply?

You will be paid your Balance (in the row next to your address on the main page) at the end of each day (around 2:30am UTC). Normally the Balance increases gradually throughout the day as alt-coins are automatically traded for BTC. The last couple days are unusually as the Unexchanged Balance has been manually exchanged at the end of the day and paid out.

If things continue as they have the last few days, you should most or all of the Unexchanged Balance converted to BTC balance and paid to you around 2:30 UTC. You don't have to subtract the fees, those are already taken out.

OK, I think I understand this so I guess it will be easier to see once we switch back to auto.
I still want to be able to estimate though so a couple more questions:

1. Is the 3.88% already accounted for in the "Unexchanged balance" and the "Balance"?

2. When H2o or the automatic system goes to exchange & Pay Out, do they take the Immature balance at the same time or does that stay where it is ready because it needs to mature before it can be touched. I would assume this is the case and is probably why my calcs are wrong...

Cheers for the help and sorry about all the questions lol.

Edit: I know this question must have been asked a billion times but... My rig is mining at 1.50 Mh/s consistently and showing 1921 total accepted shares & 1 total invalid shares (0.052% reject ratio). But the website is showing 1.3235 Accepted MH/s (Last Hour) is this accurate?

[CumpsD]

Switched to EU pool, now I'll have to wait to get something in

 [2013-12-18 20:45:09] Network diff set to 138
 [2013-12-18 20:45:09] Stratum from pool 0 detected new block
 [2013-12-18 20:45:18] Network diff set to 138
 [2013-12-18 20:45:18] Stratum from pool 0 detected new block
 [2013-12-18 20:45:49] Network diff set to 138
 [2013-12-18 20:45:49] Stratum from pool 0 detected new block
 [2013-12-18 20:47:55] Network diff set to 138
 [2013-12-18 20:47:55] Stratum from pool 0 detected new block
 [2013-12-18 20:48:06] Network diff set to 138
 [2013-12-18 20:48:06] Stratum from pool 0 detected new block

[poitch]

Not sure what we are mining right now but indeed, my miners are having a hard time even getting work to do between new blocks.

I'm 45ms away from US servers (guessing they are in the Bay Area) so no point in switching to EU for me.

I was wondering what "efficiency" you guys are seeing, I'm seeing 40% efficiency when I see 200% when pointing to some LTC pools.

[ellave]

Hi how accurate is the accepted mh/s on the website, been mining a few hours now but showing blank under the accepted column.

Thanks

Just woke up checked my miners which have been up all night at about 2.3mh/s between them, the site is only showing 0.97?  0.00016230 balance for about 12 hours work, does that seem low?

[envy2010]

OK, I think I understand this so I guess it will be easier to see once we switch back to auto.
I still want to be able to estimate though so a couple more questions:

1. Is the 3.88% already accounted for in the "Unexchanged balance" and the "Balance"?

2. When H2o or the automatic system goes to exchange & Pay Out, do they take the Immature balance at the same time or does that stay where it is ready because it needs to mature before it can be touched. I would assume this is the case and is probably why my calcs are wrong...

Cheers for the help and sorry about all the questions lol.

I believe the 3.88% comes out before individual shares of the payout are calculated; not sure if that is included in immature balance or not. You really don't need to factor it in, because its almost impossible to predict the payout within 10% for any given day. For today, I would expect most of the unexchanged balance to be exchanged and paid out, which will probably give about 0.03 BTC per MH/s.

There is quite a bit of variance in day-to-day payout, especially when the pool mines many different types of coins in a day - profitability changes all the time with changing exchange rates and difficulties. The past few days have been quite unusual, but normally the average payout is 0.007 to 0.02 BTC per MH/s. You can see a profitability graph here: http://middlecoin.com/profitgraph.html

The immature balance cannot be exchanged until it matures, which can take up to 3 days for some coins. The coins the pool has been mining for the past several days instantly mature, so unless you have been mining on Middlecoin for a week or more you won't get any of the current immature balance. Also, I think a few coins are still stuck in system from weeks ago.

[youngmathimus]

Hi how accurate is the accepted mh/s on the website, been mining a few hours now but showing blank under the accepted column.

Thanks

Just woke up checked my miners which have been up all night at about 2.3mh/s between them, the site is only showing 0.97?  0.00016230 balance for about 12 hours work, does that seem low?

for the past few days h20 has been manually moving the coins from unexchanged to balance just before the payout occurs, so don't pay attention to your balance for the time being.

[envy2010]

Hi how accurate is the accepted mh/s on the website, been mining a few hours now but showing blank under the accepted column.

Thanks

Just woke up checked my miners which have been up all night at about 2.3mh/s between them, the site is only showing 0.97?  0.00016230 balance for about 12 hours work, does that seem low?

The hashrate is quite variable, but usually within 20% of nominal for me. More than 50% off is odd. Are you getting a lot of rejects? Is your miner failing over to a secondary pool?

edit: my hashrate as shown by the website varies above and below my nominal output. if it's constantly at half what it should be, something might be off with your setup.

[jam3zs]

OK, I think I understand this so I guess it will be easier to see once we switch back to auto.
I still want to be able to estimate though so a couple more questions:

1. Is the 3.88% already accounted for in the "Unexchanged balance" and the "Balance"?

2. When H2o or the automatic system goes to exchange & Pay Out, do they take the Immature balance at the same time or does that stay where it is ready because it needs to mature before it can be touched. I would assume this is the case and is probably why my calcs are wrong...

Cheers for the help and sorry about all the questions lol.

I believe the 3.88% comes out before individual shares of the payout are calculated; not sure if that is included in immature balance or not. You really don't need to factor it in, because its almost impossible to predict the payout within 10% for any given day. For today, I would expect most of the unexchanged balance to be exchanged and paid out, which will probably give about 0.03 BTC per MH/s.

There is quite a bit of variance in day-to-day payout, especially when the pool mines many different types of coins in a day - profitability changes all the time with changing exchange rates and difficulties. The past few days have been quite unusual, but normally the average payout is 0.007 to 0.02 BTC per MH/s. You can see a profitability graph here: http://middlecoin.com/profitgraph.html

The immature balance cannot be exchanged until it matures, which can take up to 3 days for some coins. The coins the pool has been mining for the past several days instantly mature, so unless you have been mining on Middlecoin for a week or more you won't get any of the current immature balance. Also, I think a few coins are still stuck in system from weeks ago.

OK that makes sense, thanks very much!

1 last question and I know this must have been asked a billion times but... My rig is mining at 1.50 Mh/s consistently and cgminer is showing 1921 total accepted shares & 1 total invalid shares (0.052% reject ratio). But the website is showing 1.3235 Accepted MH/s (Last Hour) is this accurate? or am I missing something?

Edit: Just read the post above this one, so that 20% variable answers my question!

[ellave]

Hi how accurate is the accepted mh/s on the website, been mining a few hours now but showing blank under the accepted column.

Thanks

Just woke up checked my miners which have been up all night at about 2.3mh/s between them, the site is only showing 0.97?  0.00016230 balance for about 12 hours work, does that seem low?

The hashrate is quite variable, but usually within 20% of nominal for me. More than 50% off is odd. Are you getting a lot of rejects? Is your miner failing over to a secondary pool?

edit: my hashrate as shown by the website varies above and below my nominal output. if it's constantly at half what it should be, something might be off with your setup.

hmm, so 2 of my GPU stats as of now

gpu 0: 825kh/s A: 564000 R: 23103 HW:0
gpu1: 380 k/hs A:256096 R:11008 HW:0

I am in Aus, so my connection wont be the best, do you think that's the problem?

EDIT - OK I AM A IDIOT had one of my rigs pointing to a different wallet on BTC-E

[envy2010]

The hashrate is quite variable, but usually within 20% of nominal for me. More than 50% off is odd. Are you getting a lot of rejects? Is your miner failing over to a secondary pool?
edit: my hashrate as shown by the website varies above and below my nominal output. if it's constantly at half what it should be, something might be off with your setup.

hmm, so 2 of my GPU stats as of now

gpu 0: 825kh/s A: 564000 R: 23103 HW:0
gpu1: 380 k/hs A:256096 R:11008 HW:0

I am in Aus, so my connection wont be the best, do you think that's the problem?

EDIT - OK I AM A IDIOT had one of my rigs pointing to a different wallet on BTC-E

  that explains some of it. You must also be mining a different pool with a lower difficulty at least part of the time, because at 512 diff those GPUs would take about 8 months to get 800,000 accepted shares on middlecoin...

[Galimore]

Mmm, Doge just got picked up by Cryptsy. I'm thinking we're looking at a very nice payout today.

[jam3zs]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

[rwessels]

It will quickly be driven down to something more reasonable.

[Pay87]

Which pools you guys use as fallback? Is there something similar to this pool?

[Galimore]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

Lol, the buy orders that high are tiny and are really only intended to make it look much more valuable than it actually is. The amounts are so small nobody could sell a significant amount at that price. There isn't a single buy order of even 1 BTC until you get to 0.00000055.

[jam3zs]

It will quickly be driven down to something more reasonable.

I really hope not. Im trying to get my Doge over there asap but I guess Cryptsy is being flooded right now and after 6 confirmations it still isn't showing up.

I've only got 12k Doge but that's a handsome amount at 0.01 btc!.

[jam3zs]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

Lol, the buy orders that high are tiny and are really only intended to make it look much more valuable than it actually is. The amounts are so small nobody could sell a significant amount at that price. There isn't a single buy order of even 1 BTC until you get to 0.00000055.

Yes but a trade has been completed for 2000 doge @ 0.0002BTC = 0.4 BTC (~$200)

which ain't bad

[Galimore]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

Lol, the buy orders that high are tiny and are really only intended to make it look much more valuable than it actually is. The amounts are so small nobody could sell a significant amount at that price. There isn't a single buy order of even 1 BTC until you get to 0.00000055.

Yes but a trade has been completed for 2000 doge @ 0.0002BTC = 0.4 BTC (~$200)

which ain't bad

0.4 BTC is a small price for someone to pay if it raises that value by even 20% when they dump their 30 million coins.

[jam3zs]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

Lol, the buy orders that high are tiny and are really only intended to make it look much more valuable than it actually is. The amounts are so small nobody could sell a significant amount at that price. There isn't a single buy order of even 1 BTC until you get to 0.00000055.

Yes but a trade has been completed for 2000 doge @ 0.0002BTC = 0.4 BTC (~$200)

which ain't bad

0.4 BTC is a small price for someone to pay if it raises that value by even 20% when they dump their 30 million coins.

I don't understand. (I don't have a great knowledge of economics) but if someone has 30 million coins, why would they bother to spend 0.4 BTC on 2000 DOGE?

[phrozenspite]

Am I seeing this right??

I just went on cryptsy and went to sell doge and its at 0.01 BTC for a Doge!!

I must be missing something??

Lol, the buy orders that high are tiny and are really only intended to make it look much more valuable than it actually is. The amounts are so small nobody could sell a significant amount at that price. There isn't a single buy order of even 1 BTC until you get to 0.00000055.

Yes but a trade has been completed for 2000 doge @ 0.0002BTC = 0.4 BTC (~$200)

which ain't bad

0.4 BTC is a small price for someone to pay if it raises that value by even 20% when they dump their 30 million coins.

I don't understand. (I don't have a great knowledge of economics) but if someone has 30 million coins, why would they bother to spend 0.4 BTC on 2000 DOGE?

if you convince everyone else that something is worth more than it actually is you can sell for a higher price.  If the price is high enough you make significantly more than you spent to get it to that level