New mining pool that pays in bitcoins, but is more profitable -- middlecoin.com

[h2odysee]

I've created a new mining pool that pays in bitcoins, but actually mines the most profitable scrypt currencies. It's quite a bit more profitable than mining bitcoins, on a GPU.

If you're concerned with supporting bitcoins instead of altcoins, you're doing that by mining here, since it continuously exchanges altcoins for bitcoins, lowering the value of altcoins, and increasing the value of bitcoins.

What it does:

- Switches to the most profitable coin to mine, like multipool.in, but with several more coins. The switching code is accurate and fast. At the moment, it's monitoring 12 coins, with several more suspended.
- Automatically exchanges coins for bitcoins, and pays miners entirely in bitcoins.
- Predicts the value of the next block, for coins with variable block rewards.

There is no registration. Simply connect your scrypt miner to middlecoin.com:3333 with your bitcoin address as your username, and any password. Payouts are automatic, and occur once a day, if your balance is greater than 10 mBTC.

See the FAQ at http://middlecoin.com/faq.html

I'm cross-posting this from https://bitcointalk.org/index.php?topic=259649.0. I hope that's OK.

[Kuroth]

Interesting,

Will look into it..

[dddbtc]

I've got 120GH/s worth of ASICs on order. I've been debating selling my three Sapphire HD7950's to a friend for $600 cash.  Now that I found about middlecoin, I'm not so sure about that offer. I'm going to mine on this pool for a week and decide if GPU mining is still worth it to me or not.  I was using multipool.in but trading altcoins on cryptsy isn't compatible with my busy working lifestyle.  This is a valuable service you are providing.  I hope whoever you're financing this with profits as well as you and your software engineer.  It is a very good concept and much easier to configure/maintain than running an instance of cryptoswitcher.

Would be very interested in having a conversation about how all this works technically and your business concept in general.  But I'll let trade secrets be trade secrets  

Nice Job!

Ever thought of making a SHA256 based pool with the same concept as middlecoin?

Switch Option 1:

BTC/DVC/IXC/NMC merged mining

Switch Option 2:

Terracoin

Switch Option 3:

PPCoin

Switch Option 4?:

Bytecoin

Switch Option 5?:

Freicoin

I bet it'd draw a lot of traffic and put a lot of money in your pocket from everyone with ASICs

[juhakall]

I've got 120GH/s worth of ASICs on order. I've been debating selling my three Sapphire HD7950's to a friend for $600 cash.  Now that I found about middlecoin, I'm not so sure about that offer. I'm going to mine on this pool for a week and decide if GPU mining is still worth it to me or not.  I was using multipool.in but trading altcoins on cryptsy isn't compatible with my busy working lifestyle.  This is a valuable service you are providing.  I hope whoever you're financing this with profits as well as you and your software engineer.  It is a very good concept and much easier to configure/maintain than running an instance of cryptoswitcher.

Would be very interested in having a conversation about how all this works technically and your business concept in general.  But I'll let trade secrets be trade secrets  

Nice Job!

Ever thought of making a SHA256 based pool with the same concept as middlecoin?

Switch Option 1:

BTC/DVC/IXC/NMC merged mining

Switch Option 2:

Terracoin

Switch Option 3:

PPCoin

Switch Option 4?:

Bytecoin

Switch Option 5?:

Freicoin

I bet it'd draw a lot of traffic and put a lot of money in your pocket from everyone with ASICs

Better yet, merge mine DVC/IXC/NMC with options 2-5 too. That's possible, nobody's just made an implementation yet.

Back on topic; This is a great idea! I'll be sure to try the pool with my GPUs soon. I never liked trading those junkcoins for bitpennies myself.

But is the payout system proportional? I can't find any info pointing otherwise. That would be a major drawback.

[crazyates]

Interesting idea! I"ll have to give it a try when I get my 7970 back from RMA.

[Cascaders28]

I'm switching to ASIC mining myself but this might tempt me to bring out the old 5770 to see what happens. Very neat idea to automate the process!

[dddbtc]

I'm switching to ASIC mining myself but this might tempt me to bring out the old 5770 to see what happens. Very neat idea to automate the process!

18BizrvSCFp2UjsCnZnJseJq759xeW24m4 is my wallet address.  Watch me on the front page to see how my GPU rig is doing. I have three overclocked undervolted sapphire 7950's running at 1500mhash/s with heavily tested and optimized cgminer.conf.  The cards run at ~70*C each.  Check it out everyone who's questioning selling your GPU's. I'm leaving my GPU rig going on that pool for a few days to make that decision for myself.

[buzybit]

nice one i will check it out for sure