Topic: Why have a pool with no fees? I don't get it (Read 1190 times)
There's no such thing as free unless it's a P2Pool. The owners are skimming BTCs.
I had the same question and thanks to you I got it though there's common opinion on it.
There's numerous possible reasons why a pool would have zero fees. Like the pool could be trying to build a user base, so that more miners join their pool, while the pool has the intention of adding a 1% fee in the future. Some pools have a 0% fee, while also offering the ability to donate a small percentage of your mined coins to the pool to help it operate. The pool might also collect the extra coins from blocks that payout higher than the norm, from the transaction fees I think.
Most of all, its probably to bolster the hash power of the pool (by attracting more miners, as the zero fee helps to distinguish the pool); and if not then, then maybe pride and benevolence.
Most of all, its probably to bolster the hash power of the pool (by attracting more miners, as the zero fee helps to distinguish the pool); and if not then, then maybe pride and benevolence.
i used to run one with 0% fees and it wasnt merge mining either.
and i never ask for donations
why? because i can
i'm not panhandling for my next meal at taco bell
and i never ask for donations
why? because i can
i'm not panhandling for my next meal at taco bell
a respected 0% pool won't have difficulty in getting tips and donations from it's users... if the pool leaves the options open for donations etc, it's entirely feasible to run a pool with no fees?
Using the pool hashrate to mine merge mined coins to keep for themselves to pay pool costs and profit? Using the hashrate power to develop and utilize it for 'something' while mining bitcoins?
EGO.
I recommend you reading this book, BUY IT.
https://en.wikipedia.org/wiki/Free:_The_Future_of_a_Radical_Price
I read it a few years ago, and then you'll understand.
https://en.wikipedia.org/wiki/Free:_The_Future_of_a_Radical_Price
I read it a few years ago, and then you'll understand.
Was wondering this, seems a simple question, wondering if anyone could answer it for me.
In the summer set up some pools but never launched them because of all pools already available.
Was wondering, what is the point of having a 0% fee pool? I don't get it. It costs money to run the pool even, so why operate at a loss? Is the thinking that most pool operators have 0% fee to attract the users, then if they get large, they boost the fee? Can't really understand why anyone would want to run a 0% fee pool, but there must be reasons I'm not seeing.
Thanks.
In the summer set up some pools but never launched them because of all pools already available.
Was wondering, what is the point of having a 0% fee pool? I don't get it. It costs money to run the pool even, so why operate at a loss? Is the thinking that most pool operators have 0% fee to attract the users, then if they get large, they boost the fee? Can't really understand why anyone would want to run a 0% fee pool, but there must be reasons I'm not seeing.
Thanks.
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