Topic: "TripleMining is a scam..." DiabloD3, can you please prove it? (Read 6072 times)

You would be expending the exact same amount of processing power regardless of the pool you are in.

Almost every pool keeps the transaction fee, when you aren't taking any of the 1% you need to meet server costs somehow.

Is every pool a pyramid scheme then?

This is the last post I am going to make on the subject, then I will just go back to biting my tongue.


Triplemining it is lacking several of the things that make a pyramid scheme a pyramid scheme. In fact, it's really crazy, because if you really tear the system apart and examine it, it exactly resembles A REFERRAL SYSTEM! Wow, what shock!

It is simply a referral system. I just look at it this way, I can mine deepbit and lose 3-10%, which goes directly into Tycho's pocket, neither I or anybody else mining has any chance to see any of that percentage. Or with triplemining I can pay 1%, which goes to the person above me AND ENDS THERE. People really flip out when they see an operator that is giving the pool fee back to the pool rather than stuffing his own pockets. I don't understand this, where is the scam?

 
Out of the ~200 miners in this pool, 2 or 3 made their own threads rather than sticking to the triplemining thread. I agree it is annoying. I agree that it is unneccesary.

I disagree with the fact that Diablo used the word "scam" in his sticky to slander triplemining and sabotage MrSam's reputation in the community. He is a stand-up guy whose greatest concern is making his pool-members happy and keeping the pool running smoothly. I haven't seen a pool-owner that actually cares as much as MrSam.

 I see pool operators that put a plug for their pool in literally every post they make, yet nobody calls them "scammers".

The sticky is a really sketchy attempt to discredit and slander (technically libel I guess) MrSam and his pool, is in incredibly poor taste, and offers absolutely no evidence or explanation. Nice to see the mods pulling the kind of stuff that they are supposed to moderate against. The pool hash rate has dropped significantly since this sticky was made because people think there is some ACTUAL SCAM happening that ISN'T. Unless Diablo has some actual evidence to back up his claim, that sticky needs to be removed. Otherwise it is character assassination as well as the most uncouth thing I have seen in a long time, and that's saying something. Way to let your personal opinion affect your duties as a mod.


Maybe I should spam my referral link around the forums so we can get our hash rate back up...

The key word here is rely.  TripleMining can continue functioning indefinitely even if no new participants join up.  Sure, there are bonuses if new people *do* join up, but the system doesn't *rely* upon having new participants.


TripleMining redistributes all fees to its members.  Those people who are in a minipool pay their 1% fee to the person who referred them, and those people not in a minipool have their 1%'s totaled up and given away to a random miner in a weekly jackpot. 

At present, the pool operator earns nothing but the satisfaction of having a successful pool. 

Actually, that is exactly what it does. Only you don't pay in USD or BTC, but in computing power.
In the end Triple Mining gets fees, so the more people that join Triple Mining, the more fees Triple Mining itself rakes in (to my understanding).
Seems like a valid argument to me.

Oh I caught it, but only after I had begun typing up my post, so I decided to post it anyway. 

Awe my joke was missed. Auspician is correct

Except its not.  Pyramid schemes are by their nature unsustainable, relying upon new participants to pay into the system to provide earnings for older participants.  Triple Mining costs nothing upfront, and the only person who benefits from a new participant is the single person who referred them.  A two-layered payout system certainly is not a pyramid.  And since its completely sustainable it cannot be considered a pyramid scheme.

Don't believe me?  Check out the wikipedia entry defining exactly what a pyramid scheme is and you'll see that the ONLY similarity between such a scheme and TripleMining is that TM provides an incentive for referrals.

Agreed

Let's make it VERY CLEAR here that triple mining is simply a modified pyramid scheme. As such, it's a scam for the average user.

It's actually a bit like the TV advertisement analogy made earlier. Sure, you can say 'just go get a drink while the Pepsi advertisement is running', but if the program you are watching gets interrupted every 3 minutes for a 30 second Pepsi commercial, on every channel, then it'll quickly start to be annoying, to the point where you would give up watching the program.

Disclaimer: all that I said in this thread also goes for most notably Tradehill, which has caused a significant amount of spam especially after they just launched. It's interesting how even the pyramid scheme seems to have generated less spam than TH and TM.

Yeah, I know. :-/  Just trying to shine the light on one of the options available.  If you read my other posts lately, I agree about too many threads about TM.  One might say "well, don't read the threads if you don't like what they have to say."  On the other hand (otoh), going down a list of topics (threads) and having it seem like every other one is about TM is bad.

PS: I use to be a (multi-) forum administrator for 10 years. I was pretty good at it too.  But too many forum newbies gave me a headache. (I'm talking about forum etiquette and the like.) But I digress.