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

[ipominer]

Really, ONYX?  With all the scams you've directed your multiports at in the last week and a half (CNL, VAST, ELITE, USB) do you really think it's smart to associate your name with a coin that is such an obvious premine and dump scam?

I'll go into a longer response in a minute, but the most important thing is: do you have an alternative X13 suggestion that is likely to be more successful? Profitability on our two existing X13 coins is currently dismal (W8, XHC).

There will always be scams in altcoins. Avoiding every type of scam out there would only serve to ensure that we never make any profit, because the "least scammy" looking coins are the ones that never go anywhere in terms of mining profitability. The ultimate question for us is whether or not miners can profit from a given coin. Whether or not the four coins you listed were "scams" by their developers or not, many of our miners made very nice profits on at least half of the coins you mentioned.

As always, if you dislike a particular coin for whatever reason, there are many others you can mine - we use our best judgement of what coin to select, based on profit potential. And for reference, we've reviewed the ONYX code and haven't found any hidden or malicious wallet code.

(As a side note, we only added USB because so many of our miners asked for it - you'll note it wasn't on ipoMiner until after thousands of blocks, multiple other large pools had added it, and it was on exchanges.)

[cecilbdemented]

I agree, there are not many X13 choices right now.  If all that matters is profit, then I guess taking a shot with ONYX is worth the risk, considering the lack of options.  I did very well mining CNL myself.  I'm just starting to become concerned with what supporting all of these coins is doing to alt as a whole, and I think a lot of others are as well.  I noticed that a lot of the other pools that normally jump all over the new coins are steering clear of this one.  ipoMiner has been very respected in the community, and a lot of miners (myself previously one of them) looked to what you mine as adding legitimacy to a coin and seeing it as a good one to get in on early and hold for long-term growth. 

[ipominer]

I agree, there are not many X13 choices right now.  If all that matters is profit, then I guess taking a shot with ONYX is worth the risk, considering the lack of options.  I did very well mining CNL myself.  I'm just starting to become concerned with what supporting all of these coins is doing to alt as a whole, and I think a lot of others are as well.  I noticed that a lot of the other pools that normally jump all over the new coins are steering clear of this one.  ipoMiner has been very respected in the community, and a lot of miners (myself previously one of them) looked to what you mine as adding legitimacy to a coin and seeing it as a good one to get in on early and hold for long-term growth.  

Perhaps that's where the confusion is at: our intention has never been to advise or support a long-term investment strategy into coins we select for mining. Our coin selection is, and always has been, aimed at generating more profitable short-term returns.

Some coins we mine will undoubtedly do well long-term, but it is incredibly hard to predict which ones will. It is hard enough to predict short-term successes, which we do well at, but any sort of longer-term predictions are nearly impossible in this industry.

I've been around coins for quite a while, and there have always been scams in altcoins. There is currently more attention being drawn to them because the nature of the scams are changing to be more dangerous, with several being totally hidden, wallet-based scams (USB and ELITE both were).

As far as other pools adding ONYX goes, TradeMyBit has also already added it.

But beyond all that, the only way to earn higher returns is to take risks on new coins, which has always been our strategy. We do our best to research coins, and have been either lucky or good thus far at avoiding many of the most serious scams (NJA, for example). Occasionally coins don't work out as we might all have hoped.

Many coins that do well later on do not look like the most ideal candidates at launch, interestingly. QTL is a recent example that has a similarly large premine, but the developer has not dumped it, features have been released, and it is doing well. Some of our most profitable coins have seemed like "losers" initially for one reason or another to some people.

As always, diversification is key - don't put all your hash/money into one coin for extended periods.

(And since we're discussing the "scams", let's not forget to remember a great win we're currently seeing: IOC! It is climbing nicely.. at ~4000 satoshis now. Our miners could have gotten in well under 1500 satoshis initially, even paying at the top end of rental costs at the time.)

[cecilbdemented]

Thanks for your well thought out response.  Please understand I'm not trying to troll here...I do respect you and your pool.  I guess I'm just frustrated with the current state of crypto and find this launch particularly offensive, because they're acting like their 1% premine is small, when in reality they have already premined the equivalent of 11 days worth of mining, and the bounties they are offering are such a small percentage of it.  But hey, if you're going to run a pool mining the newest coins, what is there to mine lately but scams?  I'm sure this coin will make some who are mining it a nice profit, just like Conceal did for me.  Good luck to those who choose to mine it, and I hope you get out at the right time, but I'm sitting this one out.

[ipominer]

We also just added LibrexCoin (LXC), a new X11 coin! It is available for mining on direct port 3620; IOC is going to stay on the X11 multiport for now. IOC currently has 3257 PoW blocks left, or roughly 2.4 days.

[payzor]

PZR has less than 2 days left! Mine before we go full PoS!

[not.you]

Not that it is a big deal but how come my scrypt asic gets banned for 60 seconds every time it first tries to connect?  It usually connects fine after that initial wait but it makes rebooting the device always cause a gap in share submissions.

[ipominer]

Not that it is a big deal but how come my scrypt asic gets banned for 60 seconds every time it first tries to connect?  It usually connects fine after that initial wait but it makes rebooting the device always cause a gap in share submissions.

What kind of asic is it? What software are you using? If you want to hop on IRC I can probably help troubleshoot -- Freenode IRC, ##ipominer.

[not.you]

Not that it is a big deal but how come my scrypt asic gets banned for 60 seconds every time it first tries to connect?  It usually connects fine after that initial wait but it makes rebooting the device always cause a gap in share submissions.

What kind of asic is it? What software are you using? If you want to hop on IRC I can probably help troubleshoot -- Freenode IRC, ##ipominer.

It's a gawminers black widow which is built on Zeus chips.  Like I said, not a real big deal.  I am using bfgminer right now because it seems to get a slightly better hashrate.  But it has the same problem as cgminer.  In fact it was cgminer which alerted me to the issue since it actually says that I was banned for 60 seconds.  Bfgminer acts like I have incorrect pool info and says I may have mis-entered something (forget the exact message).  They both keep retrying and they both eventually connect.  It doesn't happen 100% of the time but probably more than 80%.  I am wondering if it has anything to do with the HW error rate on these things.  It runs around 5% which I am told is about normal.

[seedtrue]

Not that it is a big deal but how come my scrypt asic gets banned for 60 seconds every time it first tries to connect?  It usually connects fine after that initial wait but it makes rebooting the device always cause a gap in share submissions.

What kind of asic is it? What software are you using? If you want to hop on IRC I can probably help troubleshoot -- Freenode IRC, ##ipominer.

It's a gawminers black widow which is built on Zeus chips.  Like I said, not a real big deal.  I am using bfgminer right now because it seems to get a slightly better hashrate.  But it has the same problem as cgminer.  In fact it was cgminer which alerted me to the issue since it actually says that I was banned for 60 seconds.  Bfgminer acts like I have incorrect pool info and says I may have mis-entered something (forget the exact message).  They both keep retrying and they both eventually connect.  It doesn't happen 100% of the time but probably more than 80%.  I am wondering if it has anything to do with the HW error rate on these things.  It runs around 5% which I am told is about normal.

Have you tried cgminer 4.3.5 beta? Once I started using this with my Asic farm, my reject rate dropped much lower and I get higher hash.

[not.you]

Not that it is a big deal but how come my scrypt asic gets banned for 60 seconds every time it first tries to connect?  It usually connects fine after that initial wait but it makes rebooting the device always cause a gap in share submissions.

What kind of asic is it? What software are you using? If you want to hop on IRC I can probably help troubleshoot -- Freenode IRC, ##ipominer.

It's a gawminers black widow which is built on Zeus chips.  Like I said, not a real big deal.  I am using bfgminer right now because it seems to get a slightly better hashrate.  But it has the same problem as cgminer.  In fact it was cgminer which alerted me to the issue since it actually says that I was banned for 60 seconds.  Bfgminer acts like I have incorrect pool info and says I may have mis-entered something (forget the exact message).  They both keep retrying and they both eventually connect.  It doesn't happen 100% of the time but probably more than 80%.  I am wondering if it has anything to do with the HW error rate on these things.  It runs around 5% which I am told is about normal.

Have you tried cgminer 4.3.5 beta? Once I started using this with my Asic farm, my reject rate dropped much lower and I get higher hash.

You know that was the first one I tried but I couldn't get it to work at all.  I get this:

 [2014-08-01 15:01:31] USB all: found 10 devices - listing known devices

 [2014-08-01 15:01:31] No known USB devices

Maybe I need to download it from a different source.  I can't remember off hand where I got the one I have but it is supposed to be for the zeus chips.  After that failed I went to cgminer 3.1.1 which was also supposed to be setup for zeus chips and it worked.  Later I tried bfgminer just to check how it did and I feel like it works better, at least version 4.5.0 of bfgminer gives me a better hashrate than cgminer 3.1.1.

Can you link to where you got your cgminer?

[seedtrue]

Can you link to where you got your cgminer?

I compiled it for my raspberry pi from https://github.com/dmaxl/cgminer/

[jimlite]

Can you please paste your .bat file, I can not get bfgminer working on my Zeus/GAW asics at all,
just instacloses box, so I know my config is wrong.

[not.you]

Can you please paste your .bat file, I can not get bfgminer working on my Zeus/GAW asics at all,
just instacloses box, so I know my config is wrong.

Code:

bfgminer --scrypt -S zus:all -o stratum+tcp://pool.ipominer.com:3333 -u myusername.myworkername -p password --set zus:chips=64 --set zus:clock=330 --set zus:ignore_golden_nonce=1

pause

You can set the clock higher if you like, I just found this was a sweet spot for my particular miner.

[not.you]

Can you link to where you got your cgminer?

I compiled it for my raspberry pi from https://github.com/dmaxl/cgminer/

Well I was able to get this one to work however I can only get it to work using the libusb driver and they say "Current production lots use a different USB-Serial chip for which the driver has not been fully updated yet. Using libusb will result in poor performance. Use one of the other options below."

Unfortunately I can't seem to make it work with the FTDI driver.  I can't make it find the device. The "--scan-serial zeus:auto" option is Linux only and I am on winblows.

My results using the libusb driver are not good at all, lower hash than bfgminer and higher HW error rate by a large margin.

[MajidBC]

@ipominer
Zipcoin is now on C-Cex. You had the first post on ZIPcoin thread. What do you think about it now? Are you optimistic about it?

[MajidBC]

@ipominer
Zipcoin is now on C-Cex. You had the first post on ZIPcoin thread. What do you think about it now? Are you optimistic about it?

Update: It's now on bittrex:
https://www.bittrex.com/Market/Index?MarketName=BTC-ZIPC

[pkobse]

Hello Ipominer,
I would like to ask you to remove ZIPcoin from the pool.
Apparently the coin was used in early stage as mean to steal the other coins from users whose installed windows wallet. Even the "dev" now put there clean file in the ann tread, as you can see in that tread (https://bitcointalk.org/index.php?topic=721306.220 and later pages) some people have their various coins stolen.

We should NOT support such coins and devs.

Regards
pkobse.

[ipominer]

Hello Ipominer,
I would like to ask you to remove ZIPcoin from the pool.
Apparently the coin was used in early stage as mean to steal the other coins from users whose installed windows wallet. Even the "dev" now put there clean file in the ann tread, as you can see in that tread (https://bitcointalk.org/index.php?topic=721306.220 and later pages) some people have their various coins stolen.

We should NOT support such coins and devs.

Regards
pkobse.

Agreed - coincidentally, its PoW period has also ended.

[bluepixie]

jadecoin  port?