Middlecoin

Switched to wafflepool had a nice and simple web interface and you know what you're mining + profit from each coin.
 
Has anyone heard from h2o? I am starting to wonder if something might have happened... I would have expected him to say something on twitter but he has been silent for days now... his twitter is getting lit up.
 
just chiming in since I was on middlecoin, really all multipools and crapcoins seem to be going to ..well...crap....

I switched over to clevermining.com and while it has been in steady decline on payouts it seems to be about the same as other multi pools (and still better than I was doing on my own)

right now with 7.7mH/s averaging about .046356xxxx a day (0.50992225 in 11 days) but again their profitability has been on the down slide.
 
I think pool profitability is pretty low right now. Even on waffle, it was like .006 per 1mh/s. The days of .01 per 1mh/s are gone.

Which pool is profitable these days?
 
I don't think any of them are nearly as profitable as they once were. They all have ok days and bad days.
You can compare some of them here: poolpicker.eu
 
They are all in the shitter right now, but i use Wafflepool instead of Middlecoin as the fees are lower and i don't have to worry about dead time due to server problems.

I also have BTC from over a week ago that still hasn't been exchanged yet.
 
All the pools seem to follow the same pattern in my experience.
I jumped on a couple early, Waffle and ScryptGuild, and the returns were very good per hash.
Then as the pool became larger, the profits started a down trend.
Just seems the algos they follow work much better when the resources are limited and "you" are a much larger portion of the power.
Maybe just coincidence but the two I tried went the same route.
I'm off both right now trying the "chase" method again. And remembering why it is so tiring :)
 
2+MH/s for ~48hrs straight, and I get payouts of 0.0036 and ~0.005?

Ignoring the previous day's payout (that was stretched from the prior week which had a long balance which was never paid out due to switching to direct mining of other coins), something seems desperately wrong or shady with middlecoin. Even completely ignoring the relatively massive unexchanged balance, which is just estimated, it still seems wrong.

I did a little spelunking on other miners with similar hash rates to mine, and they received payouts more in line with what they should be getting - around 0.0075BTC/MH/day.

That leads me to the to speculate one of two things:
- Middlecoin initially builds up a BTC balance per user and then uses it to "pad/inflate" payout numbers
- Middlecoin is a ponzi scheme and pays incumbent miners on the backs of new or intermittent miners

What's funny is when I first started on Middlecoin a few months ago, I could jump on and off at will and I never had issues like this before. Couple that with Middlecoin's lack of transparency, it becomes painfully obvious that there is definitely some manipulation of its userbase going on.
 
Middlecoin is largely dependent on the unexchanged amounts to make good payouts...

If you look, he's been carrying ~200 BTC unexchanged for quite a while, and yes, when he hits the timing for good trades, you get good payouts.

The first couple days you're back on it, it's not going to be good. I mined with MC for months.. after I quit, I kept getting intermittent payments as my unexchanged was being exchanged... I started to go back to them because they have had a few good days in the past week, but then decided I might go straight LTC for the weekend and see what I can get.
 
Bosom said:
Middlecoin is largely dependent on the unexchanged amounts to make good payouts...

If you look, he's been carrying ~200 BTC unexchanged for quite a while, and yes, when he hits the timing for good trades, you get good payouts.

The first couple days you're back on it, it's not going to be good. I mined with MC for months.. after I quit, I kept getting intermittent payments as my unexchanged was being exchanged... I started to go back to them because they have had a few good days in the past week, but then decided I might go straight LTC for the weekend and see what I can get.
Click to expand...

And that's precisely what he SHOULDN'T be doing. While I understand that people what maximized profits, the whole point of automated multipool mining is to get consistent timely payouts. He should be automatically exchanging multiple times at day at regular intervals for whatever the market gives him, not holding onto it for a rainy day.

And honestly, he's not carrying ~200 BTC unexchanged. He's carrying bags and doesn't want to take a loss on it the backlash because his perceived unexchanged value algorithm is wrong.
 
SunnyD said:
And that's precisely what he SHOULDN'T be doing. While I understand that people what maximized profits, the whole point of automated multipool mining is to get consistent timely payouts. He should be automatically exchanging multiple times at day at regular intervals for whatever the market gives him, not holding onto it for a rainy day.

And honestly, he's not carrying ~200 BTC unexchanged. He's carrying bags and doesn't want to take a loss on it the backlash because his perceived unexchanged value algorithm is wrong.
Click to expand...

I think that you're partially right.. he missed the boat on some of the coins and is holding and hoping... he does auto exchange some, but holds some for better deals. I know he did very well for a long time with his methods, and I did well as a result, so I'm a little more forgiving, but I still moved my hash elsewhere for now.

I look back at my payout history and see very consistent payouts of .012/MH or better... occasionally the .02/MH or more. That's enough for me to say that he probably knows what he's doing... I don't have a preference for payouts... if he held mine for a week and I got crap for several days but then a big payout at the end of the week that pushed the average/day up, I wouldn't mind personally.
 
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