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

[sethnis]

Is renting rigs worth it?  Wouldn't it be better to spend the money and buy BTC to exchange for the coin outright?

We are getting really lucky this afternoon - 4 blocks in 3 hours now, amazing. For your amusement, here's my personal hashrate graph from when I was renting rigs last night:

https://i.imgur.com/M7ZplXH.jpg

[PDcologne]

Is renting rigs worth it?  Wouldn't it be better to spend the money and BTC to exchange for the coin outright?

We are getting really lucky this afternoon - 4 blocks in 3 hours now, amazing. For your amusement, here's my personal hashrate graph from when I was renting rigs last night:

i was wondering the same thing - but it does get more hash into the pool which is a good reason enough in itself....

[Ioqua]

Well gee thanks IPOMiner, wtf am I meant to do with the 0.16BTC you just earned me in 24 hours..way to make life difficult!

[Ioqua]

Is renting rigs worth it?  Wouldn't it be better to spend the money and BTC to exchange for the coin outright?

We are getting really lucky this afternoon - 4 blocks in 3 hours now, amazing. For your amusement, here's my personal hashrate graph from when I was renting rigs last night:

i was wondering the same thing - but it does get more hash into the pool which is a good reason enough in itself....

I speculated and did some short 3/6 hour rentals and it paid off, That said we havent found a block in 3 hours so it can go either way.

[ipominer]

Renting rigs can be extremely profitable, and in my view, less risky than buying into newer coins with less than stable prices. You can always calculate the expected profitability of mining in terms of btc/mh/day if you know the block reward, difficulty, and price. Just estimate conservatively and see if your profit calculation beats the rental price. If it does, you'll probably make money. Even if you don't earn back the full rental price, you'll only lose a percentage of the rental price, which is likely to be much less than you would have lost with trading. Note that you can rent for as little as 3 hours, which is what I tend to do when renting to mine newer coins.

Basically: I think the potential upside to renting is slightly less than trading, but the downside potential is dramatically less.

[gambitminer]

Renting rigs can be extremely profitable, and in my view, less risky than buying into newer coins with less than stable prices. You can always calculate the expected profitability of mining in terms of btc/mh/day if you know the block reward, difficulty, and price. Just estimate conservatively and see if your profit calculation beats the rental price. If it does, you'll probably make money. Even if you don't earn back the full rental price, you'll only lose a percentage of the rental price, which is likely to be much less than you would have lost with trading. Note that you can rent for as little as 3 hours, which is what I tend to do when renting to mine newer coins.

Basically: I think the potential upside to renting is slightly less than trading, but the downside potential is dramatically less.

Shhhh.. we don't want everybody stealing the cheap rigs! 
I agree, renting can be profitable, though it's usually only feasible to rent when a coin is in its infancy. Once a coin starts getting hammered by miners the btc/mhash return goes way down.. unless it's an uncommon case as with SPA/AUR/etc.

[ipominer]

If it was a faster process to rent rigs, I would have been renting them throughout February. We were beating the rig rental costs every day by at least 20% -- more than enough to make it worthwhile to rent, but it wasn't worthwhile enough for me personally to spend the time required to manage the rentals/payments/etc.

[bengx]

Ugh the current block is a killer.

[bitcoin carpenter]

was just thinking the same thing 5.5 hours so far

[ipominer]

Indeed, but now we've gotten a block and all is well. Difficulty above 800 makes Spain a bit tough now at our current hashrates. The drop in price has made it far less profitable now anyway, so we'll switch to something else now. We've gotten lucky with Spain blocks over the past day and a half, but variance does cut both ways.

Glad to have you all mining with us

[Coinonaer]

Guys, very good work with SPA. This is a coin I would never had mined. I cashed out yesterday and was surprised what I got in BTC.

Like it! Thank you all, you really diserve the 3 percent fee! 

[coinmine33]

nice,I will be watching this

[ipominer]

Thanks for the encouragement Coinonaer! Our goal is to beat the top large multipools in terms of profitability on a daily basis, while also getting occasional spectacular returns because of the benefit of mining newer coins. SPA was one such coin for us today -- I'm glad you joined in time to benefit

[Ioqua]

Yea SPA just tripled any of the best days I ever had with Middlecoin mining back when the payouts were high!

[Coinonaer]

Thanks for the encouragement Coinonaer! Our goal is to beat the top large multipools in terms of profitability on a daily basis, while also getting occasional spectacular returns because of the benefit of mining newer coins. SPA was one such coin for us today -- I'm glad you joined in time to benefit

Thank you Sir. I will blog about your pool tomorrow evening. Great thing!

One question: I have also some "FREE" in my account. What coin is this, didn't find them?

[ratty]

Hey I have a small request, can there be a list of all the altcoins at the pool and not just the 3 letter names? The whole altcoin scene is pretty chaotic and sooner or later one of these fresh coins is going to have the same abbreviation as another one.
I see CAP just got added, but Bottlecaps is a pretty old coin so it made me wonder if there's some new coin that is also called CAP.

[ipominer]

@ratty Definitely -- I'm going to add basic info for each coin soon! BottleCaps is definitely an odd choice, I know There has been some chatter about it being revived and we wanted to give it a test run for a few minutes to check the new fork+orphan situation, in preparation for any announcement to that effect.

@Coinonaer Awesome, thanks! What's your blog? FREE = MuricaCoin. We mined it for around 2 hours to get 50% of the last 200 blocks with 10x rewards (17760 coins per block vs. 1776 afterwards). It doesn't look to be the *most* promising coin I've seen yet, and it may not hit an exchange, but if it does I expect 30-100x profits on the blocks we mined.

[Warning__3]

So a multipool that destorys lesser coins even faster than the other multipools?

[Coinonaer]

@ratty Definitely -- I'm going to add basic info for each coin soon! BottleCaps is definitely an odd choice, I know Maybe this will shed some light: https://bitcointalk.org/index.php?topic=241445.msg5565331#msg5565331

@Coinonaer Awesome, thanks! What's your blog? FREE = MuricaCoin. We mined it for around 2 hours to get 50% of the last 200 blocks with 10x rewards (17760 coins per block vs. 1776 afterwards). It doesn't look to be the *most* promising coin I've seen yet, and it may not hit an exchange, but if it does I expect 30-100x profits on the blocks we mined.

Thank you Sir, Good to know. My blog is one of the biggest german altcoin blogs:
www.altcoinspekulant.wordpress.com

[ipominer]

@Warning__3 We don't see it that way We don't auto exchange to btc at the moment or auto sell -- we just provide the option for people to mine new coins without all the headache that generally entails. Most miners do not hold mined coins for extended periods, and the unfortunate reality is that most coins don't warrant them doing so. A coin lives or dies on community activity, developer resources, and available services -- not whether a multipool is mining it or not.