Topic: [NEW] Directpool.net -BTC- Fee 1% [Pay TX, PPLNS, NMC, Vardiff] Giving back - page 2. (Read 8968 times)

I think the community voting on initiatives could be adopted by more pools as an added layer.  That way the good can be spread no matter where someone mines.  It is just a way to organize these donation efforts in a better way.  Not force anything on anyone.  If each month 20 things are nominated, and top 5 get a cut of the pooled funds from all the pools involved that would go a long way to being effective. And then you can have rules that anything that was a top 5 and got funds can't get any more for the next 3 months to spread things around.  Popular things can still gain quarterly, but not dominate. Can have a weighted scale too that positions 1-5 get a scaled value so its not 95% go to #1 and the next 4 share 5%.  (something like 35%, 25%, 15%, 10%, 5% and 10% go to the pool operators for any pool that is free but pools can chose to charge what they want, but not get that part of the donation for example)

The above avoids a small pool trying to convince miners to jump aboard by taking the idea of community funding to established pools so no risk to miners

If Direct Pool is to gain traction, they would probably have to do a pledge drive in where they sign up enough people willing to all switch at once.  Not full proof by any means since attracting miners can be like herding cats but if the pledge results was high enough it would be the 'a crowd attracts a crowd' approach

Agreed 100%

The pools Web UI looks great... There is every graph and bell and whistle any miner would want to look at from a monitoring stand point...With that, 2 thumbs up.....But at the pools current hash rate. it could be 2 months before the pool finds a block.....NOW...if you can some how merge this front end with the 51% attack proof, DDos proof , Decentralized  P2Pool network... I think you would have something to Advertize on all the AP news sites....

But as it stands its almost solo mining.....



I would use this pool just because of the way it looks.....
I would not use this pool because of long block finding times.....

I don't work for any pool.

Name calling is a pretty juvenile move. So is pointing out a typo. I invite you to point out any other thread that doesn't involve DirectPool where I've been "trolling."

My questions still haven't been answered.

I always welcome new pool as it help decentralization....

But please dont advertise your pool as the "Next Generation" pool. Its load of crap and we all know it.

Your pool does some charity work and i applause you for that, but you got nothing technologically advance or benefit for Bitcoin mining ecosystem.

The ONLY next generation pool is a true decentralized pool. P2pool hit road block and we need a better version.

Troll. This guy should be ignored at all cost! I've seen him trolling on too many threads now... he's only trying to waste time and troll..dumbass... btw it's non sequitur* also i'm willing to bet he works for btcguild or ghash lool anyways (to the OP) i would ignore this troll above 

DirectPool Aims To Prevent 51% Attack with Community-First Mining Pool Approach
http://www.coindesk.com/directpool-prevent-51attack-community-approach/

I'm not confused about the term "next generation." I am questioning it because it is not being used appropriately here. It is being used as a marketing gimmick and it is completely vacuous. So far, no explanation has been given as to how DirectPool is an improvement over any other pool aside from it's purported ties to a charitable organization.



BTCGuild is not in question here. DirectPool is. I don't see any reason why BTCGuild needs to be mentioned at this point.

If you're going to make any sort of claims as to how your pool is going to help the community, you better be able to back them up. From what I know, the 1% fee is profit collected by an organization that states that it wants to help the community but is only lining the pockets of its members.


What advice? This is just another non sequiteur.

DirectPool makes claims that it is next generation and that it aims to help the bitcoin community, but the only thing I see is another pool that is tied to a "well known entity." So far, it's been the same three people that have been responding to me, and the responses appear as nothing more than a product pitch. Part of the responses lean on this "Bitcoin Business Alliance," but I'm having a difficult time ascertaining what people and businesses actually belong to this "well known entity."

I feel that I know enough about DirectPool to avoid it at this point. I feel that this is just another profit scheme, which doesn't bother me. What bothers me is that it is hiding behind the guise of a charitable organization, and I feel that any support for this pool will do more long run harm to the community. You are more then welcome to try and convince me otherwise, but my trust is already broken at this point.

This is not a factual statement.


I think the term "next generation" is confusing to you. DirectPool is next generation in the sense that it's doing what no other pool has done before. It's collaborating with a well known entity, the BBA, to do something great for the community and more.


DirectPool has never made the claim that it will prevent a 51% attack. What we have said is that we want to further redistribute the overall hashing power to make the network a lot more healthier than it is currently.


From what I know, the 1% fee will also be used for the betterment of bitcoin. I don't have all the details and that's private info. You might as well ask why BTCguild doesn't charge 1% or 0% instead of 3%... You're asking for info that you're not entitled to.


When we decide to open up a charity foundation, we'll be sure to take your advice to open up a befitting organization.

Thank you for your suggestions. If you'd like further information into matters concerning DirectPool, you make contact the staff via Help widget at directpool.net where you'll receive responses a lot faster. But you are more than welcome to continue posting here and you'll be replied to.

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Maint. almost done! Thanks for your patience. Services will restored shortly and an update will be provided.

Pool is still running.

EDIT:

Stats have been restored. Maint. will be done shortly.

Edit 2:

Maint. completed. All stats are restored. Pool is running perfectly. Updates listed under News section of DirectPool.net

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front end being updated

Miners are still up and hashing thanks for the heads up.

FAQ being worked on: https://bitcointalksearch.org/topic/faq-directpoolnet-discussion-ask-questions-525608

yea my miner is mining on the pool just fine on my side. Their site is under maint.

Msg reads "DirectPool website is under maintenance. You can still mine however the stats will not update. Be assured that all your shares submitted are being accepted. All services will be restored shortly, thank you!"

cool. Goodnight all

sadly the pool looks like it just died

any news?


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front end under maint...   pool still running

You're missing my point. In a more realistic scenario, the possibility of a public pool exceeding 51% doesn't exist, yet multiple articles tout this as a "next-generation" mining pool that aims to mitigate that risk while giving back to the community. My point is very simple. I need to know exactly how the claims made about your pool are qualified. I am asking for you to explicitly state how you are a next generation mining pool and how your pool is different from any other pools specifically in the way that DirectPool can prevent a 51% attack and what you offer that is more substantial than "We are giving miners another place to mine."

If we're going to "urge" each other to do things, I urge you to explain why retaining a 1% fee serves the community better than it serves yourself. I also urge you to point out where I stated or implied that DirectPool is "begging for donations."

While you're at it, can you explain why you aren't a non-profit or a not-for-profit organization as opposed to a for-profit?

That's a bad unrealistic scenario. In a more realistic scenario however, it is important for various different pools to co-exist. But to keep the bitcoin network "healthy" it's also important for the hashrate distribution to be more spread out.


You're missing the point. DirectPool isn't begging for donations. DirectPool is an initiative, in collaboration with the BBA, to use any funded donations (donated by miners at their own will) at DirectPool to be used to fund worthy digital currency projects (again, more on that will be posted up soon).

We believe that if the mining community is going to be donating to a pool then it should count for something more.

@Delarock, I would urge you to however begin your own charity website and if you'd like to collaborate with us for some possible help, just msg away!

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I think it's a philosophically flawed argument as well. I find it self defeating that the solution to "too many miners in one place" is giving all those too many miners another attractive place to go.

Let's consider eleuthria's point for a moment. What if every other pool besides DirectPool happened to shut down at the same time? Is there a novel value add that DirectPool hasn't mentioned that would "prevent" this 51% type attack from happening?

My second point aims directly at "community-first." If your pool was truly community first, why not donate 100% of fees to charity? I'll assume that you choose to use the "nobody can work for free" counterpoint. Why not just make a charity donation website? It would at least save you all the work of running the pool, and you get to serve the community at the same time. I can think of other ways that you can serve the community directly that do not involve the costly work of running a pool.

Bottom line: I think that finding a way to automatically donate to charities is great but this does not change the fact that every news article I've read is a complete sharp angle that leads to just another pool. If you're going to attempt to convince me to mine somewhere, it's going to take more than a display of noble intentions and an empty promise of network security.

"We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already."

IF what you said comes true then you are most likely correct that 51% will more than likely never be achieved by a public pool. We will just have to wait and see how the upcoming ASIC hardware shifts the balance between public and private miners. However, DirectPool is here to provide a reliable Bitcoin pool where miners can trust to have their miners run on.

Main reason, I'll say it again, behind the initiation of DirectPool is to fund worthy bitcoin related projects with any donations collected at DirectPool. We're collaborating with BBA to keep every donation made transparent. Essentially, it'll be the miners who decide where the donations end up at. A lot more on this will be posted up at directpool.net soon.

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Hey, thanks for sharing the input. I don't think there is an argument happening here... Every public pool is on the same page, bitcoin doesn't need centralization. So if we can agree on that, there is no argument here, it is just another reason to ensure there is protection over the network. You and I cannot predict it will "NEVER" happen, the saying goes like this, "never say never"... nothing is impossible, but it sure is preventable.

+1  Well said.

Enough of this nonsense.

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.


EDIT:  Exception here possibly being ghash.io.  Though they are majority private speed from their cloud mining service, so I have a hard time calling them a public pool.

Thanks for your support for dp. Please keep in mind that I am in no way against btcguild. In fact, I like how Eleuthria runs his pool and he's a well known member of the bitcoin community and has been for a long time. Just as him, I appreciate LukeJr, whizkid and many others for their commitment to the bitcoin community as well.

DirectPool is taking a new stance at the way bitcoin pool should run in our opinion and that is that we need to be giving back to the community that made us. Why i joined dp was only because of the giving back initiation. That is something I'm proud of for being a part of and hope other pools will be encouraged to do something similar.

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