FACTS about Multipools and why you shouldn't mine on them

[ghur]

They KILL COINS by making their blockchains stuck by raising difficulty and leaving as soon as it rises, making them spend HOURS to solve blocks at the diff the multipool should be working at. They also dump all they mine making the coins' value in exchanges plummet.

They only "kill" coins with terrible parameters and incompetent devs, like Auroracoin.

[comeonalready]

At any rate, I think you are missing the whole point of a multipool.  The whole point is to "take advantage of" (another word for this is 'exploit' by the way) the highest profit periods of a coin.  That is going to involve a calculation of earning X coins over period Y that will sell for Z BTC.  Let me spell it out real clear.  Multipools do not care at all about the long term goals of any coin.  If you do not like them, as a coin dev, you are going to have to come up with your own solution to it.  Its your coin, so you can change it in any way you want.  You don't just need to sit around waiting for somebody else to find a solution and then copy/paste the code into your coin.  Coming on a forum and crying foul and claiming that the multipools are scamming people without having any evidence is not going to convince anybody of your "facts".

We have the same facts basically. You're saying exploiting whatever you can is right, i.e. your neighbour drops his car keys, you should take his car and take off, it's all good. I say it's not right and miners should know what they're doing when mining at a multipool.

I am no longer giving you the benefit of the doubt.  Your thoughts truly are amusing and oh so delusional.

Please do keep posting though.  I am enjoying your rant.

[eleuthria]

Solution: Quit making SHITCOINS and the Multipools will vanish.

As long as there are shitcoins to rape and pillage, the Multipools will continue to do so.

[Minerist]

Yeah, spaincoin dev is talking about scam. Fucker, shut the fuck you. Your pump and dump venture is not a scam at all ololo
p.s. I think he just got a bit of a butthurt from multipool rising his diff but he was too retarded to develop his coin properly.

[iopq]

Fact: random block rewards is a shitty idea and stupid coins are being punished for it

[PCMiner]

Solution: Quit making SHITCOINS and the Multipools will vanish.

As long as there are shitcoins to rape and pillage, the Multipools will continue to do so.

Here here.  It's time to cull the herd.  I say multi-pools team up to crush all the crap coins.  Consolidate crypto a bit, will help level things out across the market.   Let the strong survive.  If your coin has a decent following and the hash behind it, it will weather the storm.  All the other ScamyMcCryptocoins deserve to go away tho.

[eMiz0r]

Solution: Quit making SHITCOINS and the Multipools will vanish.

As long as there are shitcoins to rape and pillage, the Multipools will continue to do so.

Here here.  It's time to cull the herd.  I say multi-pools team up to crush all the crap coins.  Consolidate crypto a bit, will help level things out across the market.   Let the strong survive.  If your coin has a decent following and the hash behind it, it will weather the storm.  All the other ScamyMcCryptocoins deserve to go away tho.

True, time to crush Litecoin! Another shitcoin actually. Total hashrate is +/- 170 GH/s, but Wafflepool/Clevermining and Middlecoin combined had last week 70 GH/s, or 40% of the LTC total hashrate.

Multipools in general are not the problem, but their huge hashrate is.

[Equate]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

[ghur]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

Multipools deliver a service as advertised. It's not a scam.

[SpainCoinDev]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

The fee is irrelevant, it's nothing. The thing is they're not taking just the fee. read the first post. They get much more by gaming the difficulty jumping coins, variable reward coins, and so on. Then they pay the miners just enough not to disappoint them.

[Equate]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

Multipools deliver a service as advertised. It's not a scam.

then you didn't have experience with multipool , I mined on multipool.us and then left because my unconfirmed coins are not confirmed even after two weeks when I left and one day I checked my account it's gone and not credited so from that day I realise it's a scam pool.

[Trestle]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

The fee is irrelevant, it's nothing. The thing is they're not taking just the fee. read the first post. They get much more by gaming the difficulty jumping coins, variable reward coins, and so on. Then they pay the miners just enough not to disappoint them.

 Still yet they pay out more then you can mine on a single coin on your own or if mining a single coin in a pool. Multipools are about making money not about supporting coins. Unless you are willing to put in the work of jumping coin to coin and have multiple pools set up in your mining software to be able to do this on your own it is worth it to pay the multipool fee.  I get that you are trying to help your coin but I gotta be honest, you just sound like a Dev burned by multipools because you did not look at the current landscape of mining and build the features into your coin to protect from the huge diff jump from a multi mining your coin. Since you were just a clone coin I don't really understand how you did not see this coming. Multipools may be tough on coins that are not built correctly. But they were the only answer to all the CopyCat get rich over night with premine coins that were being flooded onto the market. If you want your coin to make it show some advancement in code. Build a community to support that advancement. Greedy DEVs (Not all of them BTW) are what created this current situation with the coin markets.

[ghur]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

Multipools deliver a service as advertised. It's not a scam.

then you didn't have experience with multipool , I mined on multipool.us and then left because my unconfirmed coins are not confirmed even after two weeks when I left and one day I checked my account it's gone and not credited so from that day I realise it's a scam pool.

Sounds like you were doing it wrong.

[SpainCoinDev]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

The fee is irrelevant, it's nothing. The thing is they're not taking just the fee. read the first post. They get much more by gaming the difficulty jumping coins, variable reward coins, and so on. Then they pay the miners just enough not to disappoint them.

 Still yet they pay out more then you can mine on a single coin on your own or if mining a single coin in a pool. Multipools are about making money not about supporting coins. Unless you are willing to put in the work of jumping coin to coin and have multiple pools set up in your mining software to be able to do this on your own it is worth it to pay the multipool fee.  I get that you are trying to help your coin but I gotta be honest, you just sound like a Dev burned by multipools because you did not look at the current landscape of mining and build the features into your coin to protect from the huge diff jump from a multi mining your coin. Since you were just a clone coin I don't really understand how you did not see this coming. Multipools may be tough on coins that are not built correctly. But they were the only answer to all the CopyCat get rich over night with premine coins that were being flooded onto the market. If you want your coin to make it show some advancement in code. Build a community to support that advancement. Greedy DEVs (Not all of them BTW) are what created this current situation with the coin markets.

I should have yeah, but I didn't see it coming because I don't watch small coins and crapcoins and KGW was "supposedly" enough. It's definitely not. Digishield is better but still exploitable (at least it keeps the time between blocks more even). Plain Scrypt is definitely not an option anymore for a new coin either.

And again, about multipools... you have it wrong:

• You don't get practically any advantage by jumping coins as a single miner. The advantage is gained when you have a significant (multipool) hashrate compared to the whole net hashrate because the multipool mines at a diff that corresponds to a hashrate say 10 times lower than its own. Until it goes up, which causes the multipool to leave and screw the honest miners.
  The multipool thus mines at the  honest miners diff, and the honest miners mine at the multipool's diff. This can mean 10x profit for the multipool, and in time a dead coin for honest miners.
• This huge extra profit the multipool makes IS NOT PASSED ON TO THE MINERS!! multipools pay barely enough to keep miners there. It doesn't take much to keep a miner lazy enough not to pick coins and pools. The multipool keeps the rest!

[ghur]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

The fee is irrelevant, it's nothing. The thing is they're not taking just the fee. read the first post. They get much more by gaming the difficulty jumping coins, variable reward coins, and so on. Then they pay the miners just enough not to disappoint them.

 Still yet they pay out more then you can mine on a single coin on your own or if mining a single coin in a pool. Multipools are about making money not about supporting coins. Unless you are willing to put in the work of jumping coin to coin and have multiple pools set up in your mining software to be able to do this on your own it is worth it to pay the multipool fee.  I get that you are trying to help your coin but I gotta be honest, you just sound like a Dev burned by multipools because you did not look at the current landscape of mining and build the features into your coin to protect from the huge diff jump from a multi mining your coin. Since you were just a clone coin I don't really understand how you did not see this coming. Multipools may be tough on coins that are not built correctly. But they were the only answer to all the CopyCat get rich over night with premine coins that were being flooded onto the market. If you want your coin to make it show some advancement in code. Build a community to support that advancement. Greedy DEVs (Not all of them BTW) are what created this current situation with the coin markets.

I should have yeah, but I didn't see it coming because I don't watch small coins and crapcoins and KGW was "supposedly" enough. It's definitely not. Digishield is better but still exploitable (at least it keeps the time between blocks more even). Plain Scrypt is definitely not an option anymore for a new coin either.

And again, about multipools... you have it wrong:

• You don't get practically any advantage by jumping coins as a single miner. The advantage is gained when you have a significant (multipool) hashrate compared to the whole net hashrate because the multipool mines at a diff that corresponds to a hashrate say 10 times lower than its own. Until it goes up, which causes the multipool to leave and screw the honest miners.
  The multipool thus mines at the  honest miners diff, and the honest miners mine at the multipool's diff. This can mean 10x profit for the multipool, and in time a dead coin for honest miners.
• This huge extra profit the multipool makes IS NOT PASSED ON TO THE MINERS!! multipools pay barely enough to keep miners there. It doesn't take much to keep a miner lazy enough not to pick coins and pools. The multipool keeps the rest!

Yeah.. You don't have a clue how any of this works.
Your posts are downright painful to read.

[SpainCoinDev]

Yeah.. You don't have a clue how any of this works.
Your posts are downright painful to read.

lmao. so teach me. I'm quite humble 

[eMiz0r]

I disagree that multipools are scamming their users, but what I do know is when every miner joins a multipool, mining will be dead.

The whole point of mining profitable is when other users (so called "investors") are buying coins so their value will rise because of the buy orders. Individual miners can decide to hold and sell at a later point, while multipools sell off their coins immediately for BTC. No coin, not BTC/LTC or any other coin can survive daily selloffs without enough investors. SPA included, also AUR, BC or other coins.

So whenever multipools get too big and keep flooding every coin they mine on #exchange, the value will definately never rise and it is only waiting until that specific coin heads on to 1 satoshi.

[Equate]

Multipool is the biggest scam scheme implemented to scam the miners.You will always get less as compare to when your are mining on a single pool.

How is paying a fee for a pool to manage your hash power effectively a scam?
Sure you could micro-manage your rigs yourself and maximize your profits, but is your own time in doing that really worth less than the fee paid to multipools?

Multipools deliver a service as advertised. It's not a scam.

then you didn't have experience with multipool , I mined on multipool.us and then left because my unconfirmed coins are not confirmed even after two weeks when I left and one day I checked my account it's gone and not credited so from that day I realise it's a scam pool.

Sounds like you were doing it wrong.

It shows that you know nothing

[Minerist]

Yeah if the time to research a profitable coin, good pool, exchange, configuring miners, selling coin is worth nothing to you - just get a mcdonalds job, it will pay you a stable hourly wage and will teach you to appreciate your time. Fortunately my time worth a lot to me so i just pay a fee to multipool to manage my hashing power. And if they crash shitcoins, well, it's a fault of shitcoin and not multipool
And if a multipool scammed you (speaking about a real scam like not paying out your earnings) - it can be done on any normal pool too, has absolutely nothing to do with pool being multi or not.

Fun to see spaincoin butthurt.

[SpainCoinDev]

Yeah if the time to research a profitable coin, good pool, exchange, configuring miners, selling coin is worth nothing to you - just get a mcdonalds job, it will pay you a stable hourly wage and will teach you to appreciate your time. Fortunately my time worth a lot to me so i just pay a fee to multipool to manage my hashing power. And if they crash shitcoins, well, it's a fault of shitcoin and not multipool
And if a multipool scammed you (speaking about a real scam like not paying out your earnings) - it can be done on any normal pool too, has absolutely nothing to do with pool being multi or not.

Fun to see spaincoin butthurt.

No, Spaincoin is just fine now. You, on the other hand, are going to be a sad gpu-bagholder when gpu mining becomes unprofitable for you which will happen pretty soon and you'll be left with expensive equipment you'll have to sell at a big loss. It's not "fun" to see you there though, I don't give a damn.