Topic: [ANN] profit switching auto-exchanging pool - www.middlecoin.com - page 185. (Read 829908 times)

Of course you're right, but really, what's kept this train rolling so long is all the pump and dump scams.  It's speculation, pure and simple.  People out there looking to make a quick 200% ROI by buying Doge at .0000005 and sell at .000001 two days later.  

If this were operating on fundamentals of mining for profit, break even would take 90+ days, if it ever happened.  And that's because of exactly what you're saying.  Just look at the combined hashing power increases in mining ALL Scrypt coins over the last 3-4 months, and imagine Litecoin were the only coin out there and that all that hashing power were applied to it.  It would never be worth it for the miners.  Break even would be at least 90 days from initial investment, and that's extremely optimistic.  

But that's not reality.  In reality, we have the coin of the week.  And a significant portion of the mining power is diverted to it just on the basis that it's momentarily way more profitable than Litecoin.  This brings mining profits back in line with the coins that "count", and the folks mining the coin of the week are making a buck too.  Where does the money come from?  Again, speculators.  In any gig like this, there are a VERY few people that make a ton of cash (pump and dump investor whales), a moderate amount of people that do pretty well (miners), and a TON of people that take it in the rear (speculators).  They're fueling the whole thing.

As long as crypto currency is a commodity and not a currency and exposure continues to grow through media coverage, we should be fine (not speaking of ASICs here).  But hey, who knows.

Just my 2c    

I hear you on that one. People treat this like a BUSINESS. They're here to make money. You can't expect to keep earning proportionally if you don't use competitive hardware. One thing you can expect though, is a lot of bitching.

I would not sweat it. You should hear the cpu miners cry on new scrypt coin releases

Another vote for working personal stats page!

Just to chime in, my very stable rig gets about 1 - 1.5% rejects using Litecoin pools and on middlepool, about 5% - 7%.

Here is the ROI issue on tweaking. I am specifically referring to Tweaking that takes the whole rig down.

For the the sake of argument, suppose the rig WU is 1MH/s. If I take the rig down like for 5 mins, then I've lost 300MH.

To earn this missing hashing back in an hour this means my tweak has to result in a hashing rate increase of 8.3% or 83 kH/s.

Or to breakeven from this tweak in a week, about 12 kH/s.

+1. Finally some adults around here.

Funny how kids around here like to play with their words just so they can 1up people on the Internet.

It is called progress. Either you move along with it or you get left behind crying about the neighbors Maserati

Whatever you say, bud. If that's your opinion, then you're entitled to it.

 

Mining is VERY competitive.  It's an arms race against the ASIC clock.  It's also a race against the rising difficulty clock.

Asics's are coming one way or another.  I still think it will be a while before they offer the performance/price that makes sense.  Also, it will take a generation or two to really get the kinks worked out.

But if you aren't either racing to get as much coin now as you can, then you are bringing up the rear because the rest of use are building farms.  We want to collect/cash in as much BTC as possible before ASICs drive the difficulty up so much that you actually NEED said asic to mine/survive in this hobby.

Right, because I forgot this very obvious factor, on more than one occasion, with my low post count, which by the way, was completely irrelevant to the statement I was trying to make.    Moron.

Actually, as more people do it and increase hashrates collectively, your payout is directly effected as difficulty rises.
competitive might be the wrong word he chose to use, but if you don't continue to expand, eventually it becomes less profitable.

Actually you don't make any sense.  Mining isn't "competitive."  Not in any way shape or form.  This is so, because no matter how high your hash-rate, it does not affect my own earnings.

The only possible way mining could be "competitive," is if you felt some need to earn more than the next guy, and he chose to "compete" with you.

As long as I am happy with my hash-rate, your hash-rate is irrelevant.

I even use my lowly HD5850 to mine here. With a hash of 330kh/s it still manages to have a WU of 340 and an efficiency of around 110% so I wouldn't worry about the 7950, their hash isn't going to waste.

Stats froze???

You keep forgetting that difficulty will rise like there is no tomorrow. So your going to need more and more and more eventually turning into bitcoin.

more hash on middlecoin means that we are sacrificing the ability to exchange the smaller coins, and possibly earn higher profits.
Unless h20 comes up with a software solution to load balance the exchanges so we don't crash the smaller coins.

so far only these works for me @ 1~% reject

Could someone explain me how ASICS Scrypt miners will effect middlecoin? I don't understand why should make a difference. I am planning to invest so I need some info. There are already miners with GH/s but my payout is not affected from the miners on middlecoin, only by the value of the coin itself right?

Is the equation like more GH/s = increase coin difficulty = less payout for everyone?

Lets say on average we are making $10 for 1MH/s at the moment. Lets say in 6 months there will be 10 times the network hasrate. $1 for 1MH/S?

But most of the time i see that my GPUs are working and new block, new block, new block, but nothing gets delivered even for a minute, this is useless work isn't it?, that's what I want to prevent, if it is better to use here 280X I will and leave 7950s in another pool, or at the inverse.
I have two farms one in full production of 7950s, and another one entering online this week full of R9 280X, and I wanna make them as profitable as I can (I am also an efficiency freak, can't help it  it goes beyond money hehe)

Difficulty increases variance but has no influence on your average payout.