Topic: Pooling Ring/Bitcoin Potluck (Read 1333 times)
But it's a 0 sum game, no one comes out ahead.... you just get less money/BTC for a little while (because you deposit) then more all at once.
The concept of the pool is to save.
For example:
8 workers at a tissue plant get's 500 dollar per week on their paycheck. Each of them pool 200 dollars per week at the pool. On the pay date, which is every 2 months; one of the worker get's a 1400 dollar bonus on top of his 500 check!
I guess that's the closest I can relate to it to real life. tax free and 0% interest loan.
For example:
8 workers at a tissue plant get's 500 dollar per week on their paycheck. Each of them pool 200 dollars per week at the pool. On the pay date, which is every 2 months; one of the worker get's a 1400 dollar bonus on top of his 500 check!
I guess that's the closest I can relate to it to real life. tax free and 0% interest loan.
Why not just wait a few extra days instead of doing something risky? You don't get any extra bitcoins out of this.
Well just wondering if people would like to pool or mass donate or create a better pool/ thingy idea that I'm trying to create/develop. I know as a lowly miner it's gonna take me forever to mine 30 BTC. And taking risk asking for loans and stuff is really out of question. I propose a pooling ring or potluck for people who would pool their bitcoins in for a bigger payout in the future. Sort of like some chain gangs do IRL.
Basically it's 2 or more individuals that pool their btcs and repay to each other alternative on a set date. + or - 1/2 day etc.. for errors, forgets etc...
example:
2 man pool/ring
2 BTC intial join fee into a private bitcoin address. Each person donates .25 btc every 2 days. At end of 6 days it pays out to man 1... at 12 it pays to man 2.
10 man pool
5 bitcoin intial fee. each person donotes .5 bitcoins every 2 days. Every 5 days 1 person gets all the money in the pool, then it circulates from man 2, 3, 4 etc... your fee is eaten if you fail to pay after 1 day after 2 payouts (10 days).
I'm sure people can work out the rules and with the new shared addresses that are being porposed by the bitcoin community I think it would greatly help lowly miners save and also spend more bitcoins in the community. Instead of risking loans and other scams.
Of course this can be coded on a 3rd party website for x% of transaction for profit/fee etc...
Initial fee, payment amount per day/week, payout amount and late penalities can be changed/edited depending on the people and groups who would like to do this.
Basically it's 2 or more individuals that pool their btcs and repay to each other alternative on a set date. + or - 1/2 day etc.. for errors, forgets etc...
example:
2 man pool/ring
2 BTC intial join fee into a private bitcoin address. Each person donates .25 btc every 2 days. At end of 6 days it pays out to man 1... at 12 it pays to man 2.
10 man pool
5 bitcoin intial fee. each person donotes .5 bitcoins every 2 days. Every 5 days 1 person gets all the money in the pool, then it circulates from man 2, 3, 4 etc... your fee is eaten if you fail to pay after 1 day after 2 payouts (10 days).
I'm sure people can work out the rules and with the new shared addresses that are being porposed by the bitcoin community I think it would greatly help lowly miners save and also spend more bitcoins in the community. Instead of risking loans and other scams.
Of course this can be coded on a 3rd party website for x% of transaction for profit/fee etc...
Initial fee, payment amount per day/week, payout amount and late penalities can be changed/edited depending on the people and groups who would like to do this.
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