alt currencies lower by dumping using multipool/middlecoin.com?

[michaelboord]

Hi,

i just checked out middlecoin.com.

Works like multipool.in in that is mines different alt-currencies depending on profitability.

Just the difference with middlecoin is that it automatically sells the mined alt coint on
an exchange and pays out in BTC.

If a lot of people mine on pools like this won't this make the value of the alt currencies mined lower?

They don't mine to keep but to sell as fast a possible?!?
 

[Eugen3]

Hi,

i just checked out middlecoin.com.

Works like multipool.in in that is mines different alt-currencies depending on profitability.

Just the difference with middlecoin is that it automatically sells the mined alt coint on
an exchange and pays out in BTC.

If a lot of people mine on pools like this won't this make the value of the alt currencies mined lower?

They don't mine to keep but to sell as fast a possible?!?
 

This will only become more common that the steps of mining and selling become automated.  I would also point out that this will allow people to buy their desired alt coins at a cheaper price due to the efficiency of getting freshly mined coins to the sell side of the market.  This is basically mining arbitrage.

For those of us looking to sites like coinwarz and coinchoose, I'd rather let someone smarter than myself automate the exchange to BTC.  When I want to hold a coin, I will do that on a dedicated pool.  Outside of that scenario, I can't see myself going back to manually switching my miners depending on which coin is most profitable.  I also think it is a smart move to keep the coin of the minute close to the chest.  There are many more factors than price and difficulty to determining the profitability of a coin such as stales and price support.

[ranlo]

Hi,

i just checked out middlecoin.com.

Works like multipool.in in that is mines different alt-currencies depending on profitability.

Just the difference with middlecoin is that it automatically sells the mined alt coint on
an exchange and pays out in BTC.

If a lot of people mine on pools like this won't this make the value of the alt currencies mined lower?

They don't mine to keep but to sell as fast a possible?!?
 

This will only become more common that the steps of mining and selling become automated.  I would also point out that this will allow people to buy their desired alt coins at a cheaper price due to the efficiency of getting freshly mined coins to the sell side of the market.  This is basically mining arbitrage.

For those of us looking to sites like coinwarz and coinchoose, I'd rather let someone smarter than myself automate the exchange to BTC.  When I want to hold a coin, I will do that on a dedicated pool.  Outside of that scenario, I can't see myself going back to manually switching my miners depending on which coin is most profitable.  I also think it is a smart move to keep the coin of the minute close to the chest.  There are many more factors than price and difficulty to determining the profitability of a coin such as stales and price support.

What people also don't realize is that the coins are a lot like stocks. You could have a coin that is at 120% profitability (quite low) right now but know something big is about to happen. You mine as many as you can, the big thing happens, boom! It's now at 280% profitability. Instead of mining all the other coins, you have now made significantly more by playing smart.

[Birdy]

If a lot of people mine on pools like this won't this make the value of the alt currencies mined lower?

They don't mine to keep but to sell as fast a possible?!?
 

Do you really think people don't do that without such a tool?
Most altcoins have very few people that are in for a long run, most mine them for profit or buy/sell to speculate.

[tuningup]

This tool easy us mining!

[Eugen3]

Hi,

i just checked out middlecoin.com.

Works like multipool.in in that is mines different alt-currencies depending on profitability.

Just the difference with middlecoin is that it automatically sells the mined alt coint on
an exchange and pays out in BTC.

If a lot of people mine on pools like this won't this make the value of the alt currencies mined lower?

They don't mine to keep but to sell as fast a possible?!?
 

This will only become more common that the steps of mining and selling become automated.  I would also point out that this will allow people to buy their desired alt coins at a cheaper price due to the efficiency of getting freshly mined coins to the sell side of the market.  This is basically mining arbitrage.

For those of us looking to sites like coinwarz and coinchoose, I'd rather let someone smarter than myself automate the exchange to BTC.  When I want to hold a coin, I will do that on a dedicated pool.  Outside of that scenario, I can't see myself going back to manually switching my miners depending on which coin is most profitable.  I also think it is a smart move to keep the coin of the minute close to the chest.  There are many more factors than price and difficulty to determining the profitability of a coin such as stales and price support.

What people also don't realize is that the coins are a lot like stocks. You could have a coin that is at 120% profitability (quite low) right now but know something big is about to happen. You mine as many as you can, the big thing happens, boom! It's now at 280% profitability. Instead of mining all the other coins, you have now made significantly more by playing smart.

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

[ranlo]

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are.

[Eugen3]

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are.

I am in total agreement with you, but you may appreciate this.  Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive.  For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish.  I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed.  As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours.

[ranlo]

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are.

I am in total agreement with you, but you may appreciate this.  Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive.  For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish.  I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed.  As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours.

It all depends on how good you are at keeping up with the market, really. I've made as much as 200% more by mining coins that weren't even near the highest profitability, then holding them until they tripled+ in value before letting go. Profitability is counted as only how many you can mine NOW and their value NOW. If you know a coin is at, say 150% and you also know something is about to jump it up in value to 3-4x its current value, mining it is actually at a 450%+ profitability, despite what the calculators claim.

There's risk there though.

[Eugen3]

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are.

I am in total agreement with you, but you may appreciate this.  Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive.  For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish.  I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed.  As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours.

It all depends on how good you are at keeping up with the market, really. I've made as much as 200% more by mining coins that weren't even near the highest profitability, then holding them until they tripled+ in value before letting go. Profitability is counted as only how many you can mine NOW and their value NOW. If you know a coin is at, say 150% and you also know something is about to jump it up in value to 3-4x its current value, mining it is actually at a 450%+ profitability, despite what the calculators claim.

There's risk there though.

Wouldn't it be smarter to mine the most profitable coin and use that to buy more of your lesser profitable coin?

[ranlo]

What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value.  I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.

Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are.

I am in total agreement with you, but you may appreciate this.  Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive.  For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish.  I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed.  As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours.

It all depends on how good you are at keeping up with the market, really. I've made as much as 200% more by mining coins that weren't even near the highest profitability, then holding them until they tripled+ in value before letting go. Profitability is counted as only how many you can mine NOW and their value NOW. If you know a coin is at, say 150% and you also know something is about to jump it up in value to 3-4x its current value, mining it is actually at a 450%+ profitability, despite what the calculators claim.

There's risk there though.

Wouldn't it be smarter to mine the most profitable coin and use that to buy more of your lesser profitable coin?

Then you're hoping that in the time it takes for you to get converted, the price doesn't jump up. Along with this, as you buy the coins you are boosting up their price, meaning you do the opposite of what you want (by getting cheap and selling for more). This only works if you are wanting to buy small quantities. Once you start cutting into sell walls you can easily price yourself out of the coins.

[Eugen3]

For example, I could mine 4664 Alphacoins with a gpu rig according to coinwarz.  If I wanted alphacoins and instead mined Fastcoin (2613 coins), when I converted the FST to BTC and bought Alphacoin I would have 8710 Alphacoins.  Obviously the price could change before everything is said and done, but it would need to move pretty far to make any difference as far as accumulation of lower profitable coins are concerned.

[ranlo]

For example, I could mine 4664 Alphacoins with a gpu rig according to coinwarz.  If I wanted alphacoins and instead mined Fastcoin, when I converted the FST to BTC and bought Alphacoin I would have 8710 Alphacoins.  Obviously the price could change before everything is said and done, but it would need to move pretty far to make any difference as far as accumulation of lower profitable coins are concerned.

In any case, it's really up to personal preference. Regardless of the method chosen, you have the risk all the same. It's up to you how you feel about each course of action; if there was a single "best," I'm positive everyone would be using it and it would no longer be profitable anyways.

[Eugen3]

For example, I could mine 4664 Alphacoins with a gpu rig according to coinwarz.  If I wanted alphacoins and instead mined Fastcoin, when I converted the FST to BTC and bought Alphacoin I would have 8710 Alphacoins.  Obviously the price could change before everything is said and done, but it would need to move pretty far to make any difference as far as accumulation of lower profitable coins are concerned.

In any case, it's really up to personal preference. Regardless of the method chosen, you have the risk all the same. It's up to you how you feel about each course of action; if there was a single "best," I'm positive everyone would be using it and it would no longer be profitable anyways.

It is a personal choice, obviously.  But when you say things like, 'Some of us are educated', it comes across as if you are insinuating that you have the single best way of thinking.  Some of us may want more of our favorite cryptocurrencies, instead of wasting hashes.  

[Esh]

Thanks for pointing this out. I'd also be interested in something similar that returns LTC instead of BTC, or at least lets me choose. Does anyone in this thread have any experience with this pool or anything like it?