So it sounds like the 1% shared/jackpot is in lieu of a pool fee?
If so, then there isn't really a downside in comparison to a pool that takes a 1% fee.
But since the jackpot can only be won by a worker who found a block that would reward those more likely to find blocks, ie. the higher hash rate workers. So in essence the pool is re-distributing the fee typically taken by other pools to those that contribute the most by either hashing more, or bringing more workers in.
Unless, I'm wrong and there is some additional fee taken by the pool I don't see it being a bad arrangement.
Topic: Triple your income from mining with mini-pools! - page 8. (Read 17062 times)
Thanks to everyone thats joined my pool - all 12 of you. Not a bad effort considering I only signed up myself 36 hrs ago 
To everyone else thats not joined yet - come on over to TRIPLEMINING - kick off your very OWN mining pool and earn EXTRA REWARDS for your efforts!
To everyone else thats not joined yet - come on over to TRIPLEMINING - kick off your very OWN mining pool and earn EXTRA REWARDS for your efforts!
This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting because they are not minipool owners (ie they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.
Nice arguement except it all falls apart where you claim people will suddenly be unable to find anyone to join under them LOL. What are we suddenly not going to have any new miners? Has world population growth suddenly stagnated? People no longer being born?? Or are you simply saying the exponential growth in internet use we have been seeing since the turn of the millenium has suddenly stopped? Which one is it? In this respect, your arguement is flawed.
Just accept the fact this mining pool offers some cool incentives which the pool your a member of (or operate) doesnt.
mrsam, can you add 'current & previous round duration' stop/start times in Control panel please?
would love to see this aswell
mrsam, can you add 'current & previous round duration' stop/start times in Control panel please?
The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!
You are reading it wrong, %1 of 50BTC is taken every time a block is found. Some of that is divided under people who started a mini pool and the rest goes to the jackpot.
So everyone is allways participating.
It is offcourse in your best interest to convice people to join your minipool, but if you don't and you 'solo mine' you still have the chance of winning the jackpot.
Keep in mind that there are currently only 28 people mining so your chance is 1/28 to win 0.5 BTC, that's not so bad is it ?
I will say it again. This is a zero-sum game. (see http://en.wikipedia.org/wiki/Zero_sum_game)
If someone in this pool (minipool owners) has a better expected value mining in this pool than otherwise, then someone else (non minipool owners) must have a worse expected value. Not everyone in this pool will benefit! No matter how much the jackpot is or how enticing it is, there still an expected value for it. And for non minipool owerners, that expected value is less than 1%.
Mrsam,
can we get current (and previous) rounds 'duration time' added to control panel?
thanks
can we get current (and previous) rounds 'duration time' added to control panel?
thanks
So let's get in on the ground floor then, lol.
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
hey welcome aboard,
Yea I kinda like the colors on the site too. Not to harsh.
And yea I can see you Pandaminer in my pool list which shows me headings of - Username, Speed, and Date joined. Under that I can see individuals hash rate which is great
MrSam, how often does the hash rate 'update'?
Oh, that's good
The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!
You are reading it wrong, %1 of 50BTC is taken every time a block is found. Some of that is divided under people who started a mini pool and the rest goes to the jackpot.
So everyone is allways participating.
It is offcourse in your best interest to convice people to join your minipool, but if you don't and you 'solo mine' you still have the chance of winning the jackpot.
Keep in mind that there are currently only 28 people mining so your chance is 1/28 to win 0.5 BTC, that's not so bad is it ?
The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!
So let's get in on the ground floor then, lol.
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
The my pool page currently only shows the names of 'friends', i'm working on a 'control panel' that displays performance data of 'your pool workers'.
Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity?LOL.
MrSam, it's true that it's not a full pyramid scheme. But it's still a 2 level pyramid scheme, where you benefit from all the people you got to sign up under you. Pooled mining is a zero-sum game. It's about how the 50 BTC (minus fees) are shared among the miners. Other pools share this 50 BTC bases on shares or score. Your pool adds another twist where 0.5 BTC is only shared among minipool owners. Because it's a zero-sum game, in order for minipool owners earn more, someone has to lose out. And the losers are those without any friends.
This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting b/c they are not minipool owners (they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.
I don't quite agree on you, not all money is shared along minipool owners. They are only rewarded by efford of their 'friends'. All users that have no parent will donate their % to the jackpot, that can be won by anyone (top or bottom)
The idea of the system was to get more people by the jackpot, not perse the 'pyramid' as you name it, so even people with no minipool still have better odd's on this pool than any other, and therefore i don't see it collapsing.
So let's get in on the ground floor then, lol.
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
I like the front end. The colors are soothing, and the start-up bounties are unique.
I joined using Oldminer's link. Oldminer, can you tell us how the "my pool" page looks with a miner in it?
Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity?LOL.
MrSam, it's true that it's not a full pyramid scheme. But it's still a 2 level pyramid scheme, where you benefit from all the people you got to sign up under you. Pooled mining is a zero-sum game. It's about how the 50 BTC (minus fees) are shared among the miners. Other pools share this 50 BTC bases on shares or score. Your pool adds another twist where 0.5 BTC is only shared among minipool owners. Because it's a zero-sum game, in order for minipool owners earn more, someone has to lose out. And the losers are those without any friends.
This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting b/c they are not minipool owners (they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.
Quite shocked you're actually posting this right above the original Triplemining thread....no real point in this really
lol I posted it in the 'discussion' forum but it got moved here
Quite shocked you're actually posting this right above the original Triplemining thread....no real point in this really
Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity? It seems like there's no money required to join your pool. But in reality, the "cost" is the lost earnings of the 1% of the 50 BTC found in a block.
This is just like the pyramid emails I get where they ask me to send them $100 and then I can forward the email to 3 of my friends that will each give me $100. The people at the bottom of this pyramid scheme will always lose, because they won't have friends to help them make back the 1% they are losing out on.
Anyways, just my take.
This is just like the pyramid emails I get where they ask me to send them $100 and then I can forward the email to 3 of my friends that will each give me $100. The people at the bottom of this pyramid scheme will always lose, because they won't have friends to help them make back the 1% they are losing out on.
Anyways, just my take.
You are right in some form, but when the pool grows the weekly jackpot wil be 5,6,7 or even 10 BTC. This is way more then the 1% you could possibly make. (Also, pools like deepbit take 3% without returning anything to the pool)
I would like to confirm what Oldminer said before, that it is no real piramid. If you are below me and you add friends, i will have no comission on that.
Please feel free to give any other remarks as i'm doing my best to improve the site for optimal user experience.
A lotta errors on the site, can't even login.
Wow, you are right, there was an infinite redirection loop... Big sorry and fixed ...
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