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

[mikeybit]

I've done some research on user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with a hashrate of 640 Mh/s.
This user is using something called GRIDCHIP GC3355.

"GC3355 is high performance and low power SHA256 processor designed by GRIDCHIP. With advanced technology and highly integrated design."

One chip is 84KH/s and cost is 65.5USD which is equal to about 7616 GC3355 chips.
Total cost of this mining plant is 495 040 USD or more.

He is earning $6,337.53 per day which means his ROI is at 78 days.

Edit: Other sources claim one chip is performing 60 KH/s instead of 84 which means his total investment cost is over whopping number $693333.

78 days only if he gets free electricity...

I know they are low power but it still needs to be accounted for.

Edit: also they guy has 2000mh/s as he had already stated before. only 500-600mh/s is pointed towards middlecoin.

$120.00 power costs per day is nothing compared to his profits.

Its also very interesting than 10 000 of these super-expensive chips are worth like 800 GPU's. Let's assume one GPU costs 300$ which means that total cost for a mining factory with same hashrate is only $240 000.
ROI will then be 37 days (not counting in motherboards, hundreds of PSU, power usage etc...)

Sorry to quote it all. SimonG please contact MiMiMiner directly who is the rep who owns this hashpower and discuss it with him. It's not really a middlecoin support thread problem.

MiMiMiner is the guy w/ 160 Mh/s

[coin123123]

I've done some research on user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with a hashrate of 640 Mh/s.
This user is using something called GRIDCHIP GC3355.

"GC3355 is high performance and low power SHA256 processor designed by GRIDCHIP. With advanced technology and highly integrated design."

One chip is 84KH/s and cost is 65.5USD which is equal to about 7616 GC3355 chips.
Total cost of this mining plant is 495 040 USD or more.

He is earning $6,337.53 per day which means his ROI is at 78 days.

Edit: Other sources claim one chip is performing 60 KH/s instead of 84 which means his total investment cost is over whopping number $693333.
One adventage of GC3355 is that it can mine both BTC/LTC at same time.

If his middlecoin profits we're not enough he is also earning $3,770.75 USD from bitcoin mining each day as well.

if this was organized farm it would mine with constant speed.

this started with 100mhs or less and growing constantly like a virus (645mhs now),
what can it be for real? possible someone adding new chip every minute?
it looks more like virus spread

[Scrubfire]

I've done some research on user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with a hashrate of 640 Mh/s.
This user is using something called GRIDCHIP GC3355.

"GC3355 is high performance and low power SHA256 processor designed by GRIDCHIP. With advanced technology and highly integrated design."

One chip is 84KH/s and cost is 65.5USD which is equal to about 7616 GC3355 chips.
Total cost of this mining plant is 495 040 USD or more.

He is earning $6,337.53 per day which means his ROI is at 78 days.

Edit: Other sources claim one chip is performing 60 KH/s instead of 84 which means his total investment cost is over whopping number $693333.
One adventage of GC3355 is that it can mine both BTC/LTC at same time.

If his middlecoin profits we're not enough he is also earning $3,770.75 USD from bitcoin mining each day as well.

Did you take into account the increase in difficulty?  ROI is usually a short window for bitcoins because equipment becomes obsolete so fast due to increase in difficulty (approx. 2.2x/month).

[_Crash_]

Raaahhhrg! What's happening to me?

I'm not at home so I can't check what's going on my puter... Why would I suddenly get all my hashing rejected??

I've seen wireless routers do this, might need to reset your internet connection.

Also, why don't you use Teamviewer or Chrome Remote Desktop to access your miner(s) remotely?

People suggest this a lot, but what if your rig is running on Linux (as mine is)?

You can install XRDP which allows you to remotely control your Linux machine if you have the desktop just like RDP in windows, it allows the same protocol. If you're running your mining client in a terminal, then just allow SSH access and run your mining client in a new "screen" by doing "screen -S mining". To see how your mining client is doing just do "screen -R mining".

Actually I already do this but it's a pain in the arse.

I'm running bamt, with 2 instances of cgminer (290's and 280x's don't play well together)
I connect to my rig from work through ssh but it's shit because my ip changes all the time (i think i can get around this with no-ip) but more annoyingly i have to manually connect to each screen and i can't see the pretty bamt web ui graphs and shizzle. Also 1 of the screens is sketchy, if you try to restart the second screen (the one that bamt doesn't start on it's own) it crashes, and you can type but you can't see the words and strange things happen.. the only way to fix this is a reboot of the rig by physically pushing the button.

Yeah, I've noticed screen can be buggy sometimes, for instance you can type but it appears nothing is being typed when there actually is etc. Have you tried exiting the screen and then re-creating it? That'll fix that issue I just described.

[Draino]

if this was organized farm it would mine with constant speed.

this started with 100mhs or less and growing constantly like a virus (645mhs now),
what can it be for real? possible someone adding new chip every minute?
it looks more like virus spread

yeah i don't buy the ASIC thing either

my money is on this
http://www.zerohedge.com/news/2014-01-08/yahoo-virus-converts-millions-computers-bitcoin-mining-slaves

dat timing

honestly, i think if i were h2o and had any indication the hashes were suspicious, i'd be talking to the FBI (frankly, before they started talking to me)

[Draino]

Anyone think alt-coins will go up in value before recent drop? I made like 20-25$ day in december and now its down to 14$?

---------------------------------------------------------------------------------

And h20 really need to do something about user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with hashrate of 639 Mh/s (mining with ASIC)
23 Mh/s increase in less than 24 hours. This is worrying especially if he's making a second "mining plant" with another 600 Mh/s. That means he is going to take 10% OF TOTAL POOL VALUE.

With that hashrate he can go and solo-mine instead on a low difficulty alt-coin.

What actually is wrong with 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR???

Explain to me why having him on the pool is a bad thing?

bad for the users (limits hash power to mining high volume low profit coins), good for the operator (what does he care if the pool reverts to a lower margin coin, i bet coin choice effects his cut nearly insignificantly--and makes trading decisions way more simple)

[aclass]

SimonG: show us what let you to the conclusoin that this user mines with Grids? Have you read the thread at all... The user already stated what he's using.

coin123123: what do you mean by well organized. Like setup 200 PCs for 5 minutes and put them all online at once. With the difficult supply of GPUs and PSUs everyone willing to buy more will have to wait the daily/weekly deliveries to add more power.


One 600 MH user does not make the pool less profitable. It only accounts for 4-5 % of the total hash power which is a lot but not gamechanging.

[casper77]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

[SimonG]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

[aclass]

OMFG, you really are dumb. Are you tealover's buddy? Check when it started accumulating and when did the pool grow the most

Unexchanged or at least a part of it goes to balance, but with those small coins it takes time to get sold. This is the way it works when you mine small coins

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

[casper77]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

and what to do ?

[limbaugh]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

and what to do ?

Grow a pair and pick yourself?

[zSprawl]

This thread needs a moderator...

[neofatalist]

Anyone think alt-coins will go up in value before recent drop? I made like 20-25$ day in december and now its down to 14$?

---------------------------------------------------------------------------------

And h20 really need to do something about user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with hashrate of 639 Mh/s (mining with ASIC)
23 Mh/s increase in less than 24 hours. This is worrying especially if he's making a second "mining plant" with another 600 Mh/s. That means he is going to take 10% OF TOTAL POOL VALUE.

With that hashrate he can go and solo-mine instead on a low difficulty alt-coin.

What actually is wrong with 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR???

Explain to me why having him on the pool is a bad thing?

well only bad thing i see is we cant mine smaller alt coins cause of the pools huge hash we would send their diff thru the roof very fast and wouldnt be worth mining them and dumping huge amount of some alt coins could cause a crash in value.  Seems h20 cant sell alot of our alt coins as is right now im up to nearly .040 in unexchanged myself already or hes not around right now he haset posted in forums sence the 7th.

This is the exact reason it's a bit sad we have such huge miners. I'm not suggesting he should be removed. Cause it's only fair. But it hurts us a little bit

Wouldn't it be possible for H20 to set up several servers mining different coins and have everyone hit just one server and balance out the hashing so that newer coins dont get hit hard? Reward would be proportional to accepted hash rate and not what particular coin mined to make it fair.

[mikeybit]

Anyone think alt-coins will go up in value before recent drop? I made like 20-25$ day in december and now its down to 14$?

---------------------------------------------------------------------------------

And h20 really need to do something about user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with hashrate of 639 Mh/s (mining with ASIC)
23 Mh/s increase in less than 24 hours. This is worrying especially if he's making a second "mining plant" with another 600 Mh/s. That means he is going to take 10% OF TOTAL POOL VALUE.

With that hashrate he can go and solo-mine instead on a low difficulty alt-coin.

What actually is wrong with 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR???

Explain to me why having him on the pool is a bad thing?

well only bad thing i see is we cant mine smaller alt coins cause of the pools huge hash we would send their diff thru the roof very fast and wouldnt be worth mining them and dumping huge amount of some alt coins could cause a crash in value.  Seems h20 cant sell alot of our alt coins as is right now im up to nearly .040 in unexchanged myself already or hes not around right now he haset posted in forums sence the 7th.

This is the exact reason it's a bit sad we have such huge miners. I'm not suggesting he should be removed. Cause it's only fair. But it hurts us a little bit

Wouldn't it be possible for H20 to set up several servers mining different coins and have everyone hit just one server and balance out the hashing so that newer coins dont get hit hard? Reward would be proportional to accepted hash rate and not what particular coin mined to make it fair.

This has been brought up several times.  I think there's some tech challenges to doing it this way and might require some actual work.

[neofatalist]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

I'm not sure that makes any sense. Why will they never get exchanged? high volume is great, it means liquidity and it means that h20 can move them. low volume is bad because trades are few. For all we know its another issue altogether. I would like to hear an update though if possible.

[aclass]

Wouldn't it be possible for H20 to set up several servers mining different coins and have everyone hit just one server and balance out the hashing so that newer coins dont get hit hard? Reward would be proportional to accepted hash rate and not what particular coin mined to make it fair.

It is possible, but all the code will have to be re-written which is indeed a huge lot of work. This kind of pool will be Middlecoin's killer sooner or later

[jam3zs]

This thread needs a moderator...

+ 1

The rules should be that you read the wiki and agree that you understand it before posting.
If you post a stupid question or say some of the same recycled shit from then on you get banned for a day or something like that.

tbh it's not really your fault if you ask/say stupid stuff when you're a newbie but the wiki should be more accessible/obvious.

 

[mikeybit]

Wouldn't it be possible for H20 to set up several servers mining different coins and have everyone hit just one server and balance out the hashing so that newer coins dont get hit hard? Reward would be proportional to accepted hash rate and not what particular coin mined to make it fair.

It is possible, but all the code will have to be re-written which is indeed a huge lot of work. This kind of pool will be Middlecoin's killer sooner or later

Kind of thinking out loud.

Would the fixed difficulty of 512 make all coins equal in terms of shares accepted?  ie: 2 miners with same hashpower working on 2 different coins, would they theoretically submit the same amount of shares?

If so, it wouldn't be that difficult to create a pool that way.  However if a coin with much lower difficulty gets many more shares, there's no way to equally distribute the proceeds.

[npno]

hi to all
my "Unexchanged Balance" does not go into "Balance" about 2 days
what happens ?

Due to recent flood of hashpower into this pool we are sitting on tons of unexchanged coins which have no value. These coins will NEVER get exchanged because market volume is too high.

I'm not sure that makes any sense. Why will they never get exchanged? high volume is great, it means liquidity and it means that h20 can move them. low volume is bad because trades are few. For all we know its another issue altogether. I would like to hear an update though if possible.

Simple supply/demand.

If we flood the market with all these coins, the value will decrease dramatically.