[ANN][POOL] ipoMiner - Profitable multipool targeting new coins + merged mining!

[ratty]

BTCS is not having a good day, its down from 0.0012 to 0.00065 (half!) since it got listed. And no I'm not like "how dare you not be able to predict the future", I'm just looking for some wisdom, is that normal for coins to take such a dive after getting listed on a big exchange? Or was this a miss, and all part of the risk we're taking mining new coins? I went into this pool with the mindset that this is the riskier option, so I'm not mad at all, just looking to see what other more experienced people here think.

[Zalfrin]

BTCS is not having a good day, its down from 0.0012 to 0.00065 (half!) since it got listed. And no I'm not like "how dare you not be able to predict the future", I'm just looking for some wisdom, is that normal for coins to take such a dive after getting listed on a big exchange? Or was this a miss, and all part of the risk we're taking mining new coins?

very normal, just look at some historical charts. price will rebound, if the coin isn't complete garbage.

[ipominer]

BTCS is actually a bit unique among the coins that we typically mine, in that it has been around for months, but has only recently begun to spike in popularity/price. That means there are a fair number of people who already have mined a decent amount of it and are there to sell when it hits a new exchange. But, the opportunity was definitely worth taking to mine it overnight as the btc/mh/day had grown quite profitable, and with the additional benefit of being at the top of the MintPal voting list for listing today.

We didn't see the jump in price when it began trading on MintPal that I had hoped we would see, but it was still more profitable to mine it at prices of 0.0008+ than any other multipool generated today.

If you look at BTCS prices prior to Wednesday, they were under 0.0001, so even 0.00065 is a huge jump from that. It isn't necessarily surprising that these prices aren't sustainable. When we started mining it, it was at around 0.0007 and climbed to as high as 0.0017. Coin markets can be very volatile, especially on some of these coins that we mine.. but, that's often why we're mining them instead of more predictable/"stable" coins like Litecoin. Opportunities to sell at high prices on some of these coins can be short lived, unfortunately. We try to be as responsive as possible to that volatility on the mining end though, changing coins whenever necessary to try to get better than average returns.

[wasamata]

So we still at about same earnings as clever so not bad but not earth shattering meh.
Hope it improves.

[MuFaza]

So we still at about same earnings as clever so not bad but not earth shattering meh.
Hope it improves.

Higher earnings are due speculation.. They are mining ecc because of probable increase in price.

for op.

How come you missed EFL launch? I've been mining it for 0.03btc/mh/day.. Althou now it's too late since diff is too high
I wish there was trollbox or something so we could give you heads up

[david123]

I wish there was trollbox or something so we could give you heads up

That would be great.

btw: Does anyone want to share what he is doing with the ecc and btcs so far? Are you guys
selling immediately or holding or doing 50/50 or sth?

[ipominer]

We don't generally mine coins that aren't on any exchanges unless they look like they will be extremely popular -- EFL was only recently added to bittrex, and it wasn't impressive at launch. I've been watching it since launch though, and we may end up mining it. Also, note the limited volume of buys that are on bittrex for it currently. At our current hashrate, we generate around 5-7 btc/day of mined coins. If 50% are sold, that's 2.5-3.5 btc worth of buy support in EFL that would be needed. If that much was sold currently it would drop the price below 2000 satoshis on bittrex.

No trollbox, but we are on IRC at Freenode ##ipominer - come join us there.

Personally, I sell portions of my mined coins regularly. I will hold some if it looks like prices will rise, but in general prices are extremely volatile so I like to lock in profits when I can.

[ipominer]

@wasamata It is hard to make a direct comparison, as earnings heavily depend on when you sell, but anyone that sold shortly after mining coins today could have very easily outperformed CleverMining's 0.00526 btc per MH today. Many of our miners on IRC were talking about renting rigs in the past 24 hours, at 0.006-0.0065 btc/mh/day, and were still making a profit on that.

[david123]

Personally, I sell portions of my mined coins regularly. I will hold some if it looks like prices will rise, but in general prices are extremely volatile so I like to lock in profits when I can.

Thanks, I'm doing the same actually

I have another suggestion. I believe that in the forseeable future it will become pointless to mine scrypt with GPUs.
People suggest that Scrypt-Jane, Scrypt-N etc will be the next thing to do with GPUs.

So it would be great to see a multipool adding these algos. I know it's not straitforward, but there are like 5 or 6
serious algos, so one could have a port for each algo, and the workers have one instance of the mining program running
for each algo. If a coin with, say, Scrypt-N, is the most profitable at a given time, the multipool could put all
other ports in an idle mode and on the worker side only the cgminer-instance hanging on the Scrypt-N port is hashing.

No idea if this would work well, but soon a lot of people will need a new use for their GPUs..

[ipominer]

We will definitely add other algorithms in the future as we grow. Currently mining software like cgminer, bfgminer, and cudaminer do not work that way, so they would need to support multiple algorithms and switching between them in order for a pool to be able to function that way. In the near term, the more likely thing is that we will have separate multiports for each algorithm type.

[david123]

We will definitely add other algorithms in the future as we grow. Currently mining software like cgminer, bfgminer, and cudaminer do not work that way, so they would need to support multiple algorithms and switching between them in order for a pool to be able to function that way. In the near term, the more likely thing is that we will have separate multiports for each algorithm type.

Yeah I know, mining software cannot switch algos when running, but nothing stops a worker from having like 2 instances of cgminer running, one on algo A and port x and one on algo B and port y. A suitable multipool can mine a coin with algo A by putting port y on idle and switch to a coin with algo B by putting port x on idle and pushing work via port y now.

The problem with fixed-algo is that I have to manually switch between multipools if I think that there is something better my GPU can do. Ideally, for each hardware (like SHA-Asic, Scrypt-Asic, GPU, CPU) - and not for each algo - there should be one multipool doing the best what can be done with that hardware, right?

[ipominer]

Can you actually have multiple instances of miners (each with a different algorithm) running at the same time on the same GPUs? I didn't think that was possible.

[david123]

By mistake once I had two instances of cgminer running on a rig, both on different pools but
using the same GPU. I believe I recall that it worked in the sense that cgminer wasn't complaining, but the hash-rate
was of course down a lot (for both instances). But, sure, it was the same algo (both scrypt). So maybe that makes a
difference, I'll try to run a small test later on..

[anyone4u]

We will definitely add other algorithms in the future as we grow. Currently mining software like cgminer, bfgminer, and cudaminer do not work that way, so they would need to support multiple algorithms and switching between them in order for a pool to be able to function that way. In the near term, the more likely thing is that we will have separate multiports for each algorithm type.

Yeah I know, mining software cannot switch algos when running, but nothing stops a worker from having like 2 instances of cgminer running, one on algo A and port x and one on algo B and port y. A suitable multipool can mine a coin with algo A by putting port y on idle and switch to a coin with algo B by putting port x on idle and pushing work via port y now.

The problem with fixed-algo is that I have to manually switch between multipools if I think that there is something better my GPU can do. Ideally, for each hardware (like SHA-Asic, Scrypt-Asic, GPU, CPU) - and not for each algo - there should be one multipool doing the best what can be done with that hardware, right?

not sure I understand the question but if your difficulty is set right (if u manually set it or pool sets it) you can mine on 2 pools and get rewards for whatever coins you are mining. Like if you like to get coin a and coin b at same time. I am fixing to set up miner to mine 2 coins on same gpu after I set difficulty. I am not sure how it will turn out and yes its better to just mine on one pool but Ima try it out to see if I can balance hashrate.

[david123]

not sure I understand the question but if your difficulty is set right (if u manually set it or pool sets it) you can mine on 2 pools and get rewards for whatever coins you are mining. Like if you like to get coin a and coin b at same time. I am fixing to set up miner to mine 2 coins on same gpu after I set difficulty. I am not sure how it will turn out and yes its better to just mine on one pool but Ima try it out to see if I can balance hashrate.

Is this a statement or a question? If I am not wrongly recalling my experience by mistake, this should work. But it will certainly not be a good idea, I'm sure the hash rates will not sum up to what you would expect to get from teh GPU when using it with one miner instance. But for my suggestion, it only matters if the miner program will crash/complain or not, as I am thinking on one of the two instances being on a port where no work is pushed.

I don't get what you are saying about the difficulty, though. If the pool has vardiff, this will adjust automatically to your hashrate..

[anyone4u]

not sure I understand the question but if your difficulty is set right (if u manually set it or pool sets it) you can mine on 2 pools and get rewards for whatever coins you are mining. Like if you like to get coin a and coin b at same time. I am fixing to set up miner to mine 2 coins on same gpu after I set difficulty. I am not sure how it will turn out and yes its better to just mine on one pool but Ima try it out to see if I can balance hashrate.

Is this a statement or a question? If I am not wrongly recalling my experience by mistake, this should work. But it will certainly not be a good idea, I'm sure the hash rates will not sum up to what you would expect to get from teh GPU when using it with one miner instance. But for my suggestion, it only matters if the miner program will crash/complain or not, as I am thinking on one of the two instances being on a port where no work is pushed.

I don't get what you are saying about the difficulty, though. If the pool has vardiff, this will adjust automatically to your hashrate..

for some reason it doesn't work. I in the past wind up having 2 cgminer windows open accidentally for some hours and one was mining, the other wasnt. Some pools for some reason have you set your own difficulty and most pools seem to auto adjust. I was mining on some pools and after a while I quit because for some reason for just one card after mining long time, difficulty goes to 512 for miner when i only have one card 642 khash. If difficulty goes above mostly 256 it often goes back down to 128 on most good pools but some pools keep it increasing where payout seems to be nothing(difficulty auto adjusted to 512. I just assumed the difficulty for my miner keeps rising past 256 its just the pool owner trying to scam me as that is insane.

[reesev]

ipominer thanks for talking the time to study these coins to help us poor folk earn the most!  I will be increasing my donation amount at your pool!

[ipominer]

We are now mining Electronic Gulden (EFL). Here's the ANN thread: https://bitcointalk.org/index.php?topic=522661.0, and it is currently being traded on Bittrex. Deposits to Bittrex currently seem to be far slower than expected at the moment, so be aware they may be experiencing an issue there and don't rush to send all your EFL at once.

[ipominer]

We contacted the Bittrex staff and they have resolved their issue with deposits for EFL.

[precrime3]

This looks interesting, but timing when to sell would be difficult. I would be willing to pay another 2% in fees if there was a feature that sold at the "peak" of surges in prices if you will. But yes, will try this out, looks interesting! What coins are being mined right now?