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

[Ioqua]

As an good example of how much faster we can move on opportunities than typical pools, we just started mining MuricaCoin to grab the last of the 17760 reward blocks before it hits block 5000 and the rewards drop to 1776. We'll end up taking at least 50% of the last 200 blocks for a total of at least ~1,776,000 coins. After block 5000 it would take 1000 blocks to mine that much.

Yep noticed this, dosent look like any exchanges to chop this into but ill bank it for now. Limited opportunities like this I approve of. Another example would be BC which I'm now very happy to be sat on a chunk of.

How often are you considering adding new coins to the fold or literally just as and when an opportunity arises?

Also have you considered adding stratum for people looking to mine KECCAK/NFactor coins?

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[ipominer]

Right. Occasionally we speculatively take opportunities like this -- it won't be often, and it won't be for lengthy periods. We generally don't mine coins that aren't being traded anywhere, but the limited time 10x block rewards and low difficulty make it worthwhile in this case. The relatively small risk is that we could lose out on 2 hours of mining profits, but the potential payoff is at least 100x down the road.

We'll definitely be adding other algorithms in the future.

[lajz99]

Right. Occasionally we speculatively take opportunities like this -- it won't be often, and it won't be for lengthy periods. We generally don't mine coins that aren't being traded anywhere, but the limited time 10x block rewards and low difficulty make it worthwhile in this case. The relatively small risk is that we could lose out on 2 hours of mining profits, but the potential payoff is at least 100x down the road.

We'll definitely be adding other algorithms in the future.

Please CONTINUE to take opportunities like this.  Jumping on (what seem to be worthwhile) coins early and making decisions like this are exactly why I'm on the pool.  I don't have time to keep up on new coins, changing rewards, etc.  Keep it up!

[Ioqua]

Ipominer, Thanks for taking the time to be approachable for questions.

[ipominer]

Thanks for the encouragement! We definitely will always take reasonable, calculated risks in pursuit of larger than average returns. I just wanted to reassure everyone that we aren't crazy and won't constantly be mining coins that don't return immediate profits.

Our primary focus is obviously profitability -- sometimes we target coins with potential bigger gains that may come a bit later, but we always strive to provide good daily returns as well. Note that we have our own hashrate on the pool too

[goodluck0319]

there is no exchange rate for those coins. there is no profitability for those card also. why not?

[ipominer]

You're welcome Ioqua. We're working on ipoMiner full time, so we'll be as responsive as we possibly can be while still working to improve the site/etc.

[ipominer]

We're still working on adding profitability/exchange rates for coins, as these are newer exchanges. That should be working in the next few days -- sorry for the inconvenience! We'll also be working on adding information for each coin to help clarify what they are/where they're traded/etc.

Now that we've hit block 5000 on MuricaCoin and block rewards are reduced, we've switched off of it.

[Stinky_Pete]

I've just signed up and am looking forward to the ride !

You may want to edit the FAQ pages, they don't really describe your system.

[gambitminer]

I've been wanting a service like this for some time now.

Just to clarify, ipoMiner won't mine coins at launch?

Also, will you mine a new coin regardless of it being on an exchange?

Have you considered or would you consider implementing some kind of voting system in the future? (Where pool members can vote on which upcoming/new coin to mine)

Thanks!

[ipominer]

Yep, I'll be updating the FAQ page soon. They've been edited slightly so far, but they're mostly from Multipool.us, where our code comes from

We're definitely considering adding a voting mechanism - maybe when our hashrate grows we'll offer two multiports, a community-voted one and the standard one. We can also easily add direct ports for coins in the future.

We may mine coins that look promising at launch if the difficulty is reasonable for the likely potential profits. Most recent launches of promising coins have seen huge multi-GH/s hashrates making the difficulty spike to unreasonable levels for the likely price (which can often be estimated for new coins by the total number of coins and block rewards).

We don't typically mine coins for extended periods (read: more than a few hours) if they aren't on /any/ exchanges, except potentially at launch. Our goal is to provide reasonable daily profits while offering the huge potential upside that newer coins can provide.

Basically we will adapt and do whatever seems reasonable to generate better than average profits. We're experienced and have made significant profits with mining in the past, but we are always open to new ideas and are happy to discuss things.

[gambitminer]

Yep, I'll be updating the FAQ page soon. They've been edited slightly so far, but they're mostly from Multipool.us, where our code comes from

We're definitely considering adding a voting mechanism - maybe when our hashrate grows we'll offer two multiports, a community-voted one and the standard one. We can also easily add direct ports for coins in the future.

We may mine coins that look promising at launch if the difficulty is reasonable for the likely potential profits. Most recent launches of promising coins have seen huge multi-GH/s hashrates making the difficulty spike to unreasonable levels for the likely price (which can often be estimated for new coins by the total number of coins and block rewards).

We don't typically mine coins for extended periods (read: more than a few hours) if they aren't on /any/ exchanges, except potentially at launch. Our goal is to provide reasonable daily profits while offering the huge potential upside that newer coins can provide.

Basically we will adapt and do whatever seems reasonable to generate better than average profits. We're experienced and have made significant profits with mining in the past, but we are always open to new ideas and are happy to discuss things.

Perfect answer.
I also assume that a scrypt-n pool would be considered when the interest/hashrate and amount of coins are at feasible levels?

Honestly, I've got just two small rigs and I'm currently mining specific coins so I won't be using ipoMiner just yet, but I will definitely be keeping my eye on it and look forward to using it in the future.

[ipominer]

Yeah, we'll definitely add sha256/scrypt-n/etc. pools in the future as appropriate. Thanks for the questions and suggestions! Look forward to having you join us. If you want to hop on IRC and chat with us about new coins you like, maybe we can consider adding some of the ones you're interested in.

[tradeacoin]

Looks interesting. I've never used a multipool before but Ill give you guys a try for a few days. I'll be directing 15mh's or so towards you guys when I get back in town tomorrow.

[prometheianz]

I would be interested if you offered an "auto" exchange service, even if it costs a few % more in fees. Obviously you can't auto exchange like most multipools as there wouldn't be any exchanges available initially, however perhaps you could hold the coins on behalf of miners who have opted in for this feature and when an exchange is available, then make the exchange and payout in BTC, minus the extra fee for exchanging it of course.

[ipominer]

Terrific tradeacoin, we'll be glad to have you!

prometheianz - We've seriously considered offering that as an option, and most likely will do so in the future. The main difficulty I see is that optimal exchange times can vary significantly (sometimes up to 1-2 weeks from the time a coin is mined), so it takes a lot of trust in your pool operators and patience for that to work. Starting with our current strategy will hopefully help build the necessary trust and confidence.

[junkozane]

Yep, I'll be updating the FAQ page soon. They've been edited slightly so far, but they're mostly from Multipool.us, where our code comes from

We're definitely considering adding a voting mechanism - maybe when our hashrate grows we'll offer two multiports, a community-voted one and the standard one. We can also easily add direct ports for coins in the future.

We may mine coins that look promising at launch if the difficulty is reasonable for the likely potential profits. Most recent launches of promising coins have seen huge multi-GH/s hashrates making the difficulty spike to unreasonable levels for the likely price (which can often be estimated for new coins by the total number of coins and block rewards).

We don't typically mine coins for extended periods (read: more than a few hours) if they aren't on /any/ exchanges, except potentially at launch. Our goal is to provide reasonable daily profits while offering the huge potential upside that newer coins can provide.

Basically we will adapt and do whatever seems reasonable to generate better than average profits. We're experienced and have made significant profits with mining in the past, but we are always open to new ideas and are happy to discuss things.

Perfect answer.
I also assume that a scrypt-n pool would be considered when the interest/hashrate and amount of coins are at feasible levels?

Honestly, I've got just two small rigs and I'm currently mining specific coins so I won't be using ipoMiner just yet, but I will definitely be keeping my eye on it and look forward to using it in the future.

yes, because of this answer too i begin to point my machine there. these op know well about their business 

[ipominer]

Thanks for your vote of confidence junkozane - we're glad to have you joining us!

[touchcoin]

nice,i will be watching this

[PDcologne]

miners now on your pool - i look forward to the results over the next few days