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

[Neon001]

Actually, as more people do it and increase hashrates collectively, your payout is directly effected as difficulty rises.
competitive might be the wrong word he chose to use, but if you don't continue to expand, eventually it becomes less profitable.

Of course you're right, but really, what's kept this train rolling so long is all the pump and dump scams.  It's speculation, pure and simple.  People out there looking to make a quick 200% ROI by buying Doge at .0000005 and sell at .000001 two days later.  

If this were operating on fundamentals of mining for profit, break even would take 90+ days, if it ever happened.  And that's because of exactly what you're saying.  Just look at the combined hashing power increases in mining ALL Scrypt coins over the last 3-4 months, and imagine Litecoin were the only coin out there and that all that hashing power were applied to it.  It would never be worth it for the miners.  Break even would be at least 90 days from initial investment, and that's extremely optimistic.  

But that's not reality.  In reality, we have the coin of the week.  And a significant portion of the mining power is diverted to it just on the basis that it's momentarily way more profitable than Litecoin.  This brings mining profits back in line with the coins that "count", and the folks mining the coin of the week are making a buck too.  Where does the money come from?  Again, speculators.  In any gig like this, there are a VERY few people that make a ton of cash (pump and dump investor whales), a moderate amount of people that do pretty well (miners), and a TON of people that take it in the rear (speculators).  They're fueling the whole thing.

As long as crypto currency is a commodity and not a currency and exposure continues to grow through media coverage, we should be fine (not speaking of ASICs here).  But hey, who knows.

Just my 2c    

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[zneww]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

[ratty]

Difficulty increases variance but has no influence on your average payout.

But most of the time i see that my GPUs are working and new block, new block, new block, but nothing gets delivered even for a minute, this is useless work isn't it?

I thought the same thing, and my miner can take minutes and many new blocks before submitting anything, but I can see from the graphs that I am still submitting at the same rate on average. I'm not sure why, but just look at the graphs for your bitcoin address on the page. It was noticeably more spikey for me with lots of peaks and valleys since the diff went up to 512, but the average should be the same. If its not, then its time to shop around!

[karolina]

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

I said it's treated like a business.

People are in a business to make money.
People mine cryptos to make money. (You wouldn't be doing this otherwise).

In order to maintain profits, you need to use competitive hardware, otherwise your profits will quickly decline.

Either accept this fact, or stop bitching on the Internet about ASICs because that's what started this discussion in the first place.

EDIT:

I finally realized why it's not competitive in your opinion.

You choose not to upgrade. Instead you choose to earn less and bitch more.

Problem solved. You're right, I'm wrong.  You win.

[zneww]

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

I said it's treated like a business.

People are in a business to make money.
People mine cryptos to make money. (You wouldn't be doing this otherwise).

In order to maintain profits, you need to use competitive hardware, otherwise your profits will quickly decline.

Either accept this fact, or stop bitching on the Internet about ASICs because that's what started this discussion in the first place.

EDIT:

I finally realized why it's not competitive in your opinion.

You choose not to upgrade. Instead you choose to earn less and bitch more.

Problem solved. You're right, I'm wrong.  You win.

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

[Biggen]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

[zneww]

Our scuffle has been ended.

That is impressive. You got in at the right time though, correct?

[foodies123]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

mh ?

[karolina]

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

You're choose not to take the risk. No risk, no reward. Same goes for buying ASICs.

Our scuffle has been ended.

That is impressive. You got in at the right time though, correct?

I've still got six 5970's mining since February 2011. They must have ROI'd the equivalent of 300 times over already. Mnius $20 here and there for replacement fans.

Sold lots of BTC. Regretted it each time, but still have enough.

[zneww]

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

You're choose not to take the risk. No risk, no reward. Same goes for buying ASICs.

I mine for for a little extra change. My full time job suffices. Why take a risk when I am comfortable with my life?

[Biggen]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

mh ?

21Mh/s

[karolina]

Good thing you put that edit in there because I was heading in the, you don't have to buy 11 rigs and worry about making your money back. Not that I choose not to upgrade but more that every card right now is priced to the point of if I buy it now I will never be able to make anything back for resale.

Thanks. Nice day to you sir.

You're choose not to take the risk. No risk, no reward. Same goes for buying ASICs.

I mine for for a little extra change. My full time job suffices. Why take a risk when I am comfortable with my life?

This can go on all night lol, there are always more ways than one to look at it.

I'm off to bed.









21 mh/s crew! 

[bitter_miner]

Not to keep jumping you guy's little, lets say "disagreement", but I sure as hell treat this more of a business than a hobby.  I clear over $250/day on average (yesterday was NOT average ) here at Middlecoin and have already made enough mining LTC the last 12 months to pay for all my equipment and for even more farm buildout.  No friggin hobby dollar amounts here...

just curious, but 110v or 240v?? i'm assuming 240v but from your home or do you rent business space?? been crunching numbers lately.. wanted to add a 240v breaker box for my servers and then mining came along.. i'm fine up to 200A - was going to allocate 50A for starters.. keep reminding the wife not to plug the vacuum into room with "all the computer crap".. ups protected, but she just keeps bringing it all down.. the whole breaker thing is too much

[doxymoron]

Seems my personal graph is stuck again.

[induktor]

Hello
I have been mining here for several weeks, but the useless work resulting of the 1024K difficulty bugs me a bit.

I have been reading the last 50 pages but couldn't find the info I want.
What would be best, using 1 thread with 7950 and high TC for middlecoin or a 280X with g 2 at 750Kh?

what I am asking is what is better to accommodate for the 1024K difficulty, I am trying to make it work as efficient as I can.

any hint?, thank you!
indkt.

so far only these works for me @ 1~% reject

Code:

280x @ 680kh/s:-
thread-concurrency : 28672 (2048 * 14)
gpu-thread : 1
intensity : 18
gpu-engine : 1100
gpu-memclock : 1500

7950 @ 590kh/s :-
thread-concurrency : 25984 (1792 * 14.5)
gpu-thread : 1
intensity : 18
gpu-engine : 1050
gpu-memclock : 1250

Thank you for sharing it!!!!
I will try that asap!
Indkt.

[gtraah]

Also, people seem to forget that Scrypt ASICs allow for more expandability for miners like me, with 11 rigs. I have no room left, I'd be tripping breakers, and too much heat is being generated.

Scrypt ASICs would solve all these problems for me.

So that argument about X number of 280x's costing XXX dollars, isn't totally relevant when trying to compare to ASICs, which can allow much more hashing, with much less power consumption, and much less heat being generated, and taking up a much smaller footprint.

Also applies to people who live in smaller apartments. Suddenly instead of having enough circuits to allow going from 5 MH/s, to being able to power four X 25 MH/s ASICs, will make a huge difference.

You keep forgetting that difficulty will rise like there is no tomorrow. So your going to need more and more and more eventually turning into bitcoin.

Right, because I forgot this very obvious factor, on more than one occasion, with my low post count, which by the way, was completely irrelevant to the statement I was trying to make.    Moron.

I was saying that your going to neeed more and more ASICS and eventually have the same NO ROOM LEFT AGAIN and same profit again, You may be better off for the first few months but then say hi to many more asics... As it will become like bitcoin, But Even if I breifly just read your post and commented on it not seeing the complete post , why call me a Moron?, call me a moron and you get it back in your face. DKhead. Do you think your some sikcnt. Big kid with his Big hash power thinking his king shit haaa? call me moron??? Yeh ok well then that makes a fukkd up cnt who needs to be capped in the knees!!

calling us kids? hahaha  Show me anyone under 16 here I don't even think anyone is under 21 here But if so , who cares good on them for starting up!!

[Catswold]

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati Smiley

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

Where did I try to one up you? Who is the kid? Those dang kids! Kids are what 16 and under? Sorry to disappoint, no kid here.

Mining is still not competitive. There is a new coin every week. No one can mine every coin. So please stop.

ALSO, people that take mining as BUSINESS are not so smart. Lets use logic here.

Allow him his illusion of superiority, it's all he's got apparently to make him feel good about himself.

If he feels it's competitive, fine for him.  I'll just sit back and continue to mine away, perfectly happy with my profits and my strategic coin purchase.  I'm not in competition with anyone but myself.

[Catswold]

Seems my personal graph is stuck again.

Been frozen all afternoon

[Biggen]

just curious, but 110v or 240v?? i'm assuming 240v but from your home or do you rent business space?? been crunching numbers lately.. wanted to add a 240v breaker box for my servers and then mining came along.. i'm fine up to 200A - was going to allocate 50A for starters.. keep reminding the wife not to plug the vacuum into room with "all the computer crap".. ups protected, but she just keeps bringing it all down.. the whole breaker thing is too much

I own my own business so I have my farm setup there at my building. Already have 600 amp 3-Phase power to my facility so I just added twin 30A 240v breakers for the farm.  Sized each breaker to handle 5 rigs (each with four 280xs).  Only running 8 rigs currently. The heat output sucks so im getting quotes for A/C systems just for the server farm room. Will need them if we want to expand any further.

[dgross0818]

This can go on all night lol, there are always more ways than one to look at it.

I'm off to bed.


21 mh/s crew! 

At least this is slightly more entertaining to read than the "H2O IS STEALING FROM YOU" BS that usually starts flying around this time

Personal graphs are still stuck for me (actually they just haven't updated), however, stats from bfpcoin.com (among other ones that process the raw data) are up to date and accurate from what I can tell. Payout today looks to be around 0.0173BTC per MH/s or so, which is still higher than we've been experiencing.

ASIC's are something everyone needs to come to terms with. The financial incentive wasn't there when LTC was $2-3, however, now those capital costs in development are a lot more attractive. The first round I'm not worried about, and even long-term, until memory gets faster, the differences won't be as large as some think. Power consumption (heat) on the other hand is what many of us are looking forward to... I like GPU's because they have utility (value) outside mining, however, if I can hash faster with less heat/power consumption to worry about, then that's attractive too.

For those worried about the competitive nature of mining... that's the name of the game. There will always be people with over 100x my hashing power, and I recognize that. Likewise, not everyone can afford to even run a 25-30 GPU setup. While we all wish we were H2O, or the guy with 150+ MH/s, that doesn't get you anywhere in life. Also, to the person who said it's just as easy to manage multiple rigs vs 1 or 2 GPUs... not when you have way more parts to clean / configure / make sure they are always working