The pool has/is mining over $1000/hr with the new update. Remind me why you still need 8% to recover lost costs?
Edit: bbp has dropped over night to 21. so its actually $608/hr.
Edit: bbp has dropped over night to 21. so its actually $608/hr.
Ok, let's look at the math. The pool mined 579340.35 over the last 24 hours. The pool currently takes 8% (which yes, is very high for a pool, if you want, download the source, run your own pool on a $60 server and let us in for cheaper). 8% of 579340.35 is 46,347.228 per day. At the current reported coinmarketcap.com price of $0.004340/BBP (23 sat, $18.8K BTC) that is $201.17/day. How you're coming up with $608 and hour is beyond me.
Since you're here to spread FUD you won't hear these points, but for those interested parties consider these facts:
The Dev ran a faucet that was exploited. Yes, it should have been tested better but we are a community and God says to share burdens, so the pool needed to recoup that, thus the higher than industry standard pool rate. There is another pool, minersofmen.com, it is built from the open source pool software available at Github. Running a pool would have cost me over $60 a month, plus probably an hour a day of tech support. So I was pleased when another user stepped in to run one as my time was getting limited (I was set to run the first independent pool). I talked to that other operator and he said for the first month he was running in the red all month, coin price was low and BTC was far lower. So while $200/day is a lot, the pool has been active since August and I'd wager the last 30 days are the first period it's made a "profit". Considering all that has been accomplished by this coin and the Dev I don't have a problem with it for now. If you do, run solo, go to the other pool or run your own pool and let us in.
The Dev is doing the bulk of the work himself, he has some support coders but Biblepay IS the Dev right now. With masternodes kicking off in about 12 hours, that will slowly change, but the Dev I am confident will remain active. There are those of us in the community that pitch in where we can, but far too often users come in, can't get things to work perfectly and then attack the coin and the Dev without ceasing. If you think this coin is a scam, then say your peace and go elsewhere. My thought is for this to have been a scam, the Dev would have had to know Bitcoin would explode, because when this coin started, I was predicting this coin might reach 30 sat by the end of the year, and that was only $0.00125. If the Dev is that smart, he would have just invested in $3K Bitcoin and been far ahead.
This coin is still very new, and is going to have some hiccups, especially as new features are implemented. Unfortunately not all users are going to benefit from every change, but most of the changes are of an equalizing nature, which is very in line with the goal of this coin being accessible to all. Your mom could still mine this coin on pool on her older Pentium i3. It wouldn't be very lucrative but its possible. Not so with almost any other coin.
To summarize, this coin has a way to go, there are still some issues that require a lot of technical skill or just plain luck and there is no guarantee that it will succeed. If you think this project is junk, make a singular informed and well written post, make your points and then leave all of us "suckers" behind.
.
