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Showing 9 of 9 results by Scrubfire
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Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 26/01/2014, 02:52:41 UTC
Man, I'm bummed.  One of my video cards isn't recognized by my motherboard anymore.  I removed all the other videocards and plugged it directly in the board, but no dice.  I also didn't keep the original packaging or track which video card came from which vendor.  Lesson learned.

I'll try it in a different motherboard, but it's a bummer.

Oh yeah... I know it's off-topic/hardware related, but you all are such a friendly group of people, I'm sure you understand.

Oh, and to keep it on topic:

I LOVE the payouts the past few days.  Thank you h20!
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 24/01/2014, 17:15:07 UTC
new miners can't connet to eu.middlecoin.com or just middlecoin.com. But miners, that i start this morning working fine!
even ping midlecoin.com doesn't work! Is DNS allright with this pool???


I would check your spelling.
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 22/01/2014, 17:59:47 UTC
Hi people,
im new here and can someone tell me why no shares and what i make wrong, i use:

-o stratum+tcp://middlecoin.com:3333 -u my wallet address -p 123
and nothing http://s861.photobucket.com/user/scotty_tu/media/middle_zpsabb88813.jpg.html

10x

I don't think you are hashing 335 Mh/s with scrypt.  Make sure you have scrypt configured and not SHA-256
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 10/01/2014, 13:28:26 UTC
I've done some research on user 1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR with a hashrate of 640 Mh/s.
This user is using something called GRIDCHIP GC3355.

"GC3355 is high performance and low power SHA256 processor designed by GRIDCHIP. With advanced technology and highly integrated design."

One chip is 84KH/s and cost is 65.5USD which is equal to about 7616 GC3355 chips.
Total cost of this mining plant is 495 040 USD or more.

He is earning $6,337.53 per day which means his ROI is at 78 days.

Edit: Other sources claim one chip is performing 60 KH/s instead of 84 which means his total investment cost is over whopping number $693333.
One adventage of GC3355 is that it can mine both BTC/LTC at same time.

If his middlecoin profits we're not enough he is also earning $3,770.75 USD from bitcoin mining each day as well.



Did you take into account the increase in difficulty?  ROI is usually a short window for bitcoins because equipment becomes obsolete so fast due to increase in difficulty (approx. 2.2x/month).
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 27/12/2013, 15:39:17 UTC
Hi Guys,

With middlecoin, we really dont need to setup a fail over right? As he has set this up on his end? Funny thing happened I had a schedule set on CG watcher which switched profile if pool goes down, Now I am not sure what was considered down but I just went and checked on the miner and it switched over and I wasted 3 hrs on Middlecoin ARGHH!!! Waste! I wanted to see what a full 24 hr will pay DAMMIT... Anyway I dont suppose you know how the schedule works on cgwatcher? what does Cgwatcher consider when a pool goes down, because when i reset the middlecoin pool it started perfectly again and now I have been mining for 40 minutes. I dont beleive the pool did go down so I dont understand what this scheduler means, I turned off all scheduler at the moment.


PS: Does this POOL have much Down time?

Set your failover to eu.middlecoin.com
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 27/12/2013, 03:49:49 UTC
Is the pool down?

exactly. I am new to mining and spent a lot of time understanding what I am doing. This is definitely the easiest but definitely not the best! But then again its a lot of hard work if you want to do this yourself

Well, I DID mine altcoins (mostly ltc and ppc)and traded them on exchanges (mostly vircurex) myself and it was actually fun and not THAT hard to do, just takes lots of time since you have to be monitoring the exchange constantly.

This, middlecoin, pool is for the lazy and/or noobs. Don't get me wrong, I've been mining here for a couple months now and I like the convenience. I've had my fun mining and trading on my own, so here I am.

The point is, you are missing out if you don't try it on your own for at least a little bit. You may lose some money but the epxerience you gain will be invaluable.

Too many people looking for a get-rich-quick scheme; it just doesn't exist, even in bitcoins, you have to pay a price.

Couldn't agree more.  I have 6 or 7 different wallets on my computer.  It's fun to play the market, but it's very time intensive.
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 27/12/2013, 02:55:12 UTC
Payouts will be delayed tonight. I'm upgrading the server that computes the webpage stats, and I need to finish that first.

Thanks for the update!
Post
Topic
Board Pools (Altcoins)
Re: [ANN] profit switching auto-exchanging pool - middlecoin.com
by
Scrubfire
on 20/12/2013, 16:55:26 UTC
For everyone who wants to get all the information available using the python script, remove the write calls and add the following:

write("Total paid", my["paidOut"])
write("Total unpaid ", my["immatureBalance"] + my["unexchangedBalance"] + my["bitcoinBalance"])
write("Exchanged    ", my["bitcoinBalance"])
write("Unexchanged  ", my["unexchangedBalance"])
write("Immature     ", my["immatureBalance"])
print "    Khash/s      :\t%.2f" % (my["megahashesPerSecond"])
print "    Shares last h:\t%.0f" % (my["lastHourShares"]/1000)

edit: oops. Last two lines were formatted wrong. Hacked it to be right.

Slight modification to this if you haven't received a payout yet:

if "paidOut" in my:
   write("Total paid", my["paidOut"])

write("Total unpaid ", my["immatureBalance"] + my["unexchangedBalance"] + my["bitcoinBalance"])
write("Exchanged    ", my["bitcoinBalance"])
write("Unexchanged  ", my["unexchangedBalance"])
write("Immature     ", my["immatureBalance"])
print "    Khash/s      :\t%.2f" % (my["megahashesPerSecond"])
print "    Shares last h:\t%.0f" % (my["lastHourShares"]/1000)
Post
Topic
Board Beginners & Help
Topic OP
Bitcoin mining analysis
by
Scrubfire
on 19/12/2013, 16:40:48 UTC
I've been lurking on these forums a lot, and I am fascinated with bitcoins.  I've been setting up some sample mining rigs, I started with a USB block erupter, then set up my PC to mine litecoins, and I'm looking to buy some more dedicated hardware, mostly for altcoin mining.

Reading the posts got me thinking about serious investment into equipment to mine bitcoins.  I found that's it's not unreasonable to get a 2th/s unit for around $6000/USD.  It's easy to get excited about that, because you go to a site like http://www.coinwarz.com/, use one of their mining calculators, and BAM!  Holy cow, 2th unit is going to make me RICH!

http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=2000000&p=500.00&pc=0.19&pf=2&d=908350862.43702200&r=25.00000000&er=686.60000000&hc=0.00

Makes it look like in a year you will be making $271,000.00 USD with a simple $6000.00 investment!  How can it go wrong?  But as I started doing more research and reading on these forums, some of the more experienced people warned of the increasing difficulty, and offered advice to double the difficulty every month.  Well, I'm an analytical guy, so I had to put it all down on a spreadsheet.

https://docs.google.com/spreadsheet/ccc?key=0Arep9y4833VpdG4zNExxTENNZS1MbERWR1R1RV9STFE&usp=sharing

I started off by analyzing the increase rate of difficulty over 10 periods (approx. 110 days).  On average over those 10 periods the difficulty increased 30%.  That's very close to 2x a month (it's actually ~2.2x), so you could use it as a rule of thumb.  So then I started extrapolating what the difficulty will be over the next ~18 months.  Extrapolating the number of coins generated from coinwarz per day, I then calculate how many coins you can generate over a period for a given difficulty.  I also based it on an average bitcoin value of $600.  You can tweak the bitcoin value of course, up if you are an optimist, down if you are a pessimist.

So it's probably not likely that you can get your hands on hardware until February if you order it today.  So based on that assumption, the column on the bottom right show your capital cost recovery.

The result is this:  If you buy a 2th unit today for $6000, and plug it in on Feb. 14th, you will never recover your capital costs.  You will be in the hole by $60, and when you get to that point, just unplug it, because it's only costing you money after that point.  Also, you can increase the value of bitcoin, or increase the Hash rate (buy another unit), but because of exponential increasing difficulty, you have to increase those numbers exponentially to get any return.