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

[Gamer67]

I don't care what it is called as long as it is making a profit for me.

[ipominer]

We've added VOOT on the X11 multiport and have mentioned it to Bittrex to see if they'll add it as well. Enjoy!

@lajz99 There just haven't been many good new coin releases recently, unfortunately. We would love to see more, and have even asked for suggestions in case there are coins we've missed. (That hasn't turned up anything either.)

[lajz99]

We've added VOOT on the X11 multiport and have mentioned it to Bittrex to see if they'll add it as well. Enjoy!

@lajz99 There just haven't been many good new coin releases recently, unfortunately. We would love to see more, and have even asked for suggestions in case there are coins we've missed. (That hasn't turned up anything either.)

Yea, it figures you'd find one as soon as I make my smartass comment!   

It has been tough these days to distinguish what may be profitable from the junk, I'll give ya that...

[ipominer]

Personally, I would say the the bigger issue is distinguishing the profitable junk from the unprofitable junk.. as almost all of it has been junk lately. But, some of it has still been profitable..

[RentaMouse]

Ipominer, what is your opinion on future of scrypt market? Do you think it will come back when (if) the X11 and X13 hype vanishes..? Thanks.

I'm not IPOminer but I have no exciting new coins to distract me atm, so I share my thoughts:

ScryptASICs are going to kill Scrypt coins - where previously miners might on average have kept some coins for speculation, the pressure on new ScryptASIC owners to make their ROI will see 99% of the coins dumped straight to market. We've already seen how relatively big coins like Doge struggled to cope when auto-selling multipools mined them, I fear a downward spiral for all remaing Scrypt coins, followed by a plummet as existing "investors" run for the door.

Coin devs dont like ScryptASICs either because they reduce the potential audience for a coin - miners usually make up most of the early adopters so they want a PoW algo which gets you dedicated miners ideally, certainly not one which at best gets their coin added to a multipool's list. As you might have spotted in my signature, I'm a fan of Monero currently as pretty much anyone with a CPU can join in, and it has the "anonymity" factor which also seems to be popular.

To put things another way, what benefits does Scrypt offer a coin compared to alternative algorithms? With all the ASICs it may be able to attract a massive network hashrate, but that only protects against the 51% attack when its massive compared to the global hashrate, which wont be the case. In fact Scrypt hashpower may end up being so cheap to rent that anyone could setup a 51% attack for a few BTC on NiceHash...

[jimlite]

About some of today's posts:

I received some MAST to my surprise today, so it all did get payed out.

And as far as the comment on the name IPOminer, I see your point.
An IPO generally means you get in on something before the general public.
While I would like to see IPOminer get onto new coins sooner, I know
that the pool op researches and evaluates new coins as to try and sort
out the winners from the junk (and most are junk).  Personally, I think any
new coin launch that looks reasonably good should be mined right at launch
here, if there is not a better coin to mine.  I wouldn't mind a few hours
wasted once in a while for the chance to get the easy low diff blocks
right at the start. But I see how that would involve a lot of work, a lot of
wallets that will not be used, etc.  But in the stock market, when you
get in on an IPO, it doesn't always go up, it can go down just as likely.
Lately, Dedicated seems to list and be at launch of every coin, and a lot
of them are crap. So you could always go there if you want to attempt
to get in on the first 100 blocks of every new coin, but half of them fail
to launch, screw up the launch, or you don't get a block till after the
first 200 have been instamined in 10 minutes while all the pool ops are
rushing to get it compiled and working.  Bottom line is sure, I would have
loved IPO miner to have gotten us on VOOT at block #2 instead of #160,
but in reality very few people other than devs, friends, or pool ops are
getting much of those first blocks, so I understand and appreciate the
slight delay on new coins due to the pool op doing a  little research,
vetting, and math.

[BakSAj]

Ipominer, what is your opinion on future of scrypt market? Do you think it will come back when (if) the X11 and X13 hype vanishes..? Thanks.

I'm not IPOminer but I have no exciting new coins to distract me atm, so I share my thoughts:

ScryptASICs are going to kill Scrypt coins - where previously miners might on average have kept some coins for speculation, the pressure on new ScryptASIC owners to make their ROI will see 99% of the coins dumped straight to market. We've already seen how relatively big coins like Doge struggled to cope when auto-selling multipools mined them, I fear a downward spiral for all remaing Scrypt coins, followed by a plummet as existing "investors" run for the door.

Coin devs dont like ScryptASICs either because they reduce the potential audience for a coin - miners usually make up most of the early adopters so they want a PoW algo which gets you dedicated miners ideally, certainly not one which at best gets their coin added to a multipool's list. As you might have spotted in my signature, I'm a fan of Monero currently as pretty much anyone with a CPU can join in, and it has the "anonymity" factor which also seems to be popular.

To put things another way, what benefits does Scrypt offer a coin compared to alternative algorithms? With all the ASICs it may be able to attract a massive network hashrate, but that only protects against the 51% attack when its massive compared to the global hashrate, which wont be the case. In fact Scrypt hashpower may end up being so cheap to rent that anyone could setup a 51% attack for a few BTC on NiceHash...

Thanks for sharing your thoughts with me. Interesting factor you mentioned, that ASICs press for quick ROI = quick sell of the coin. I agree. On the other hand I still like scrypt for being a memory hard function. X11 might be killed with botnets mining on CPUs. Also since scrypt ASICs are more difficult to manufacture the decentralization will be greater than in BTC.

[Gamer67]

Drop Vootcoin now !!!

Coin is officially dead. We are mining it on multi for no reason now.

[IntroVert]

Drop Vootcoin now !!!

Coin is officially dead. We are mining it on multi for no reason now.

Unfortunately, yes. Thread was closed due to "scam by lead developer"

https://bitcointalk.org/index.php?topic=630628.msg7019076#msg7019076

[ipominer]

VOOT is off the multiport. I wouldn't call it dead, since the blockchain is still going and trading on it is still ongoing at Bittrex if you're holding some, but the drama between their development team certainly makes it not worth mining anymore. (Usually when I see something like that in a bitcointalk thread, it means that the developer isn't sharing the premine with the guy handling bitcointalk.)

To jimlite's point... it is extremely rare for anyone outside of the development team to be getting block #2 of any coin, even pool operators. Most coins do not provide source to pool operators ahead of time, so even the ones that are on them at launch usually are mining after block 100 because the first 100 go fast.

[MajidBC]

Voot thread is closed. Most of the new coins have a lot of problems, such as failed launch, delayed launch, dev dumping, etc. I think it's better that dev uses his/her original name on the OP and lists the coin devs there. What's your suggestion to help this issue?

[ipominer]

Any suggestion from us won't likely help.. crypto is decentralized and tends to favor those who like remaining anonymous. Your idea is a nice thought, but won't likely catch on. Keep in mind that scams happen every day in the real world too. New coins will always be more of a risk than established ones, but that's why increased profits are possible. If we only mined coins with prominent, publicly known development teams and a full marketing budget, and corporate support, we would never make more than the cost of electricity, because everyone in the world would be mining the same coin. Differentiation in the market is a good thing.. it is the driving force behind competition.

[kingscrown]

please delete VOOT tho as its dead and we are wastign hashpower.

[ipominer]

VOOT is already off the multiport, and it isn't available on a direct port. There's no "wasting hashpower" on it at the moment.

[ipominer]

ipoMiner does not auto-exchange coins, and the price of new coins tend to fluctuate dramatically based on when you sell them. We do show the BTC/Mh/day profitability at the time of mining, which is displayed in the header on the site.

[PeaMine]

Stinks VOOT failed, but that's the risk of new coins.
Those who managed to sell back when it was 500 satoshi though, probably happy.  I held too long but was a tiny investment.

[watcoin]

Stinks VOOT failed, but that's the risk of new coins.
Those who managed to sell back when it was 500 satoshi though, probably happy.  I held too long but was a tiny investment.

May want to think that. Rest of devs are offering to pay back the 10 BTC that was ripped off:

https://bitcointalk.org/index.php?topic=639057

[Jerubbaal75]

Well VOOT was aptly named..   Voot Da Fuk Devs, that guy didn't want to share his toys as a child either, lols! Have you thought about X13 implementation? There are some interesting coins there so far, interesting as far as the value didnt die from pump dumpers or the devs selling their IPO's after launch.. Hilarious! Its been an dubious past couple of months. SYNC & MAST by far my Favs but such a limited POW stage blows. It's been mostly downhillcoins since EmptyGox allowed the general community to realize the 'minecrocoinsm' that's been running relatively like an oiled machine for years under their noses. Now every noob thinks they can be rich in a few weeks launching their own coin. Sigh.. You didn't think it would be that easy did you?.. For a second there.. They kinda still do!! Also I have no pity for people who rent rigs for a new coin only to have it fail at launch or never hit an exchange from lack of community interest or Dev team competency. Meanwhile 3 other coins their not paying attention to get ninja launched. Don't gamble like that, point that hashrate at something that has an actual discovered market price with established value & daily trading volume. Also as far as exchanges go, don't get too attached to one exchange, having at least 2 or 3 open at once for a comparison speaks volumes. When people are buying up a coin you can usually see why on another exchange.

Mining DRK is alright but at ~4Gh we really cant compete with the bigger dark pools can we? I made more profit buying it while noobs were panicking and it was cheap .013 after the Masternodes test forked things up a bit. Because it was DRK and the community didn't want it to stay below .02 btc it came back within a week. & sold at .02166666. Holding it was a no brainer. Cant say that for most coins.

I've become anti Proof of Stake, as it appears anyone who holds coins seem to find themselves with just a lot more of a coin that is pretty much worthless when they go to exchange it. POS seems designed to leave a higher % holding the bag while the people who sell treating it like any other new coin just move onto the next one. Also limited POW in weeks or few months show the Devs are only trying to make a quick buck and have no idea what it takes to run even a semi-successful coin. Whatever the meme is.. if the community isn't interested in another junky coin, it will die like the rest usually within days or weeks. Tons of failed launches yes, but that'll happen when a dozen new coins are being launched by noobs every week. A sticky on how to properly launch a coin would be an asset & raise the bar.

I have a tip of sorts for anyone interested, MYRiadcoin but not the SHA-256 or Scrypt algo's, the diff on those got killed early on by ASIC's but there's still profit to be made with GPU's using myriad-groestl or Skein. MYR - https://bitcointalk.org/index.php?topic=483515.0 When choosing a pool its a good idea to ping it for latency/distance to you in a cmd window, just the stratum not including port. Under 30-50 is good, 100+ will be on another continent.

[ipominer]

It looks like VOOT is back on! They've gotten rid of the "scam developer" and have gotten MsCollec, a well known person on bitcointalk to take the reigns. We'll give it a shot on the X11 port again. New thread at https://bitcointalk.org/index.php?topic=639057.new#new

[saykor]

I've become anti Proof of Stake, as it appears anyone who holds coins seem to find themselves with just a lot more of a coin that is pretty much worthless when they go to exchange it. POS seems designed to leave a higher % holding the bag while the people who sell treating it like any other new coin just move onto the next one. Also limited POW in weeks or few months show the Devs are only trying to make a quick buck and have no idea what it takes to run even a semi-successful coin. Whatever the meme is.. if the community isn't interested in another junky coin, it will die like the rest usually within days or weeks. Tons of failed launches yes, but that'll happen when a dozen new coins are being launched by noobs every week. A sticky on how to properly launch a coin would be an asset & raise the bar.

Exactly what i think for POS...