I think we should have a mining pool code of ethics. In order to get the community seal to be a mining pool, you have to agree to the following code.
1. You will never use your hashing power to partake in 51% or other attacks on any chain.
2. If the government or other entity offers you money like $1 million to overtake your network, you must notify the community and refuse, or be the subject to lawsuits. For example, if the fbi decided to give btcguild and deepbit $1 million each to help take down bitcoin, they would have to refuse.
3. The minimum mining fee will be 5% pps or proportional.
The 3rd throws mining pool owners a bone to be honest.
1. You will never use your hashing power to partake in 51% or other attacks on any chain.
2. If the government or other entity offers you money like $1 million to overtake your network, you must notify the community and refuse, or be the subject to lawsuits. For example, if the fbi decided to give btcguild and deepbit $1 million each to help take down bitcoin, they would have to refuse.
3. The minimum mining fee will be 5% pps or proportional.
The 3rd throws mining pool owners a bone to be honest.
1- have no interest in attacking any chain - let them live or die on their own merits
2- We established the pool to further bitcoin - personally I would rather go down fighting than take the money of a government, Bitcoin is too good for that
3- Does not sit with the ethos of Ozcoin pools, these are put here at low cost for miners, members can set a voluntary contribution if they like the service
If 5% of 50BTC is what it takes to make a poolop "honest" give me the names of the "dishonest" ones - I'll gladly pay that out of my own pocket to make them "honest" - but do you really think it would work? With the scrutiny in these forums and Bitcoin IRC how long would a dishonest poolop last?
Been out of the loop a few days due to illness
not up with all the news and views
If I may - my perspective
When i worked in a vinyard picking grapes and being paid by the bucket.
the vinyard provided work,(grapes to pick) pool provides work
I did the work, (picked grapes) miner does work (hash shares)
Emptied bucket into large contained (completed work unit) miner returns share (completed work unit)
paid on buckets submitted miner paid for completed work units submitted
I see the pool as paying miners for submitted work - not "buying" their hashpower nor shares. It is not mine to use. I will happily however pay for every valid share submitted to the pool
Shares are just a way for pools to measure work - they dont exist in solo mining
I see ppl are starting to buy and sell them - interesting but beside the point
opps became a 3am rant
best
Graeme
