Isn't that EXACTLY what bitsharesmining.com is doing? .. multipool mining of most profitable coins and selling that shit on the exchange?
the problem is: all the currently supported ALTcoins are not as profitable as bitcoin (actually, according to http://www.coinwarz.com/cryptocurrency, there are now only very few ALTcoins that are more profitable than bitcoin), so miners would rather stick with minging bitcoin. It's all about the highest profitability using same hardware.
Thanks cn, as other have said minebitshares DOES mine the most profitable alt coins and then sells them on the exchange in return for BTC which is then converted to bitUSD to payout to miners. We currently do this for Scrypt and X11 coins.
Your point may be valid if we offered SHA256 mining, but even then we'd wouldn't mine bitcoin as it would take too long to find a block based on the likely amount of SHA256 hash we would have pointing at the pool, miners wouldn't be able to get paid for days/weeks and so not use the pool.
We would mine other SHA256 coins which we would expect to find a block in reasonable time frame so we could payout daily to miners, such as Fireflycoin (FFC), Freicoin (FRC) etc, and just like Paycoin (XPY) recently before it went POS these can be more profitable than bitcoin at times.
You cannot compare SHA256/Bitcoin mining profitability with Scrypt and X11. ie.. for the algos the pool support for miners with GPUs, X11 is the most profitable, and then Scrypt, SHA256 although technically possible would be the worst by a long margin.
We do intend to allow SHA256 mining for those which have ASIC hardware lying around, but it'll be once we have the 100% delegate/s approved to allow me to hire a pool-admin as it takes quite a bit of time each day to manage the pool, payouts and coins etc for each supported algo.
BTW - I'll be posing a FAQ for the pool soon- I'd like to ensure the chinese members of our community know about the pool and how to use it - could you recommend someone who could translate it for a small bounty please?