Author Topic: Paid out $1527 bitUSD in 200 payments for the week with 33 new pool users  (Read 6236 times)

0 Members and 1 Guest are viewing this topic.

Offline CLains

  • Hero Member
  • *****
  • Posts: 2606
    • View Profile
  • BitShares: clains
With direct marketing a new user sign up costs around 20 dollars, and here we have attracted 18 signups for $350 in a week so it seems to be approximately the same, only this might have a greater potential to cost less after the initial few weeks due to profitability-charts, miner lag, and so on. Another consideration in favor of mining pool bonus is that it attracts "enthusiasts" who have some skills. Just straight up giving away $20 to new users like bitgold.com was doing might attract lesser users, but it's hard to tell unless we do the research. For now the bonus multi-pool strategy of attracting users is definitely worth pursuing and analyzing further..

Offline cube

  • Hero Member
  • *****
  • Posts: 1404
  • Bit by bit, we will get there!
    • View Profile
  • BitShares: bitcube
Are you telling me that the bonus is 22% of the hash power?    That in an entire week even with $350 of bonus we only attracted $1200 of buying power to BTS?   

We need to get the bonus much closer to 5% for this to be worth it in the long run.

Yes - that's what the data says. Another way to look at it though is...

In only a week, with no concerted marketing effort the pool has attracted 10x the buying power to BTS than it did without the bonus.

Not to discount the efforts of our community in trying to get the message out this week - thank you.

I agree we need to keep a close eye on the 'return' on your bonus investment... it's too soon though to measure it's true effectiveness...
What your helping to do now though is build up a history of profitability which miners will look at to gauge if they should switch or not.  They won't bother to move if there is no history of performance.

There are three key initiatives that are underway that will quickly let us know if this is ever going to be effective...

I secured today an agreement to have the pool listed at the primary multi-pool profitability comparison website http://poolpicker.eu
I'm working on a step-by-step guide for X11 miners to improve their hashrate/profitability by upto 70% that will be hosted on the pool and shared with the crypto commmunity
rgcrypto and the team have offered assistance to help develop a marketing campaign for the pool.

I'll discuss measuring the effectiveness of the pool with rgcrypto and the team on Sun and see if we can set some realistic goals and timeframes that we can review together.

I do need some help though - It'll likely take me at least 2 weeks to do this, can you recommend anyone who could help quickly modify the pool code to produce a JSON API that can be called by the http://poolpicker.eu comparison site to produce the following style of output...

The sooner we can do it the sooner we'll be listed...

Code: [Select]
{"scrypt": {
"2014-07-21":"0.0052136",
"2014-07-20":"0.0051156"
},
"x11": {
"2014-07-21":"0.0052136",
"2014-07-20":"0.0051156"
}
}

All the core code to achieve something similar is already in the core NOMP pool code here
https://github.com/zone117x/node-open-mining-portal/blob/master/libs/api.js
https://github.com/zone117x/node-open-mining-portal/blob/master/libs/stats.js

thanks

We are using  $350 of bonus to attract $1200 of buying power into BTS.  Do you have information on how much subsidy ($$) put in to attract the 32 new miners? 
« Last Edit: February 20, 2015, 07:13:22 am by cube »
ID: bitcube
bitcube is a dedicated witness and committe member. Please vote for bitcube.

Offline nethyb

  • Full Member
  • ***
  • Posts: 197
    • View Profile
  • BitShares: nethyb
Are you telling me that the bonus is 22% of the hash power?    That in an entire week even with $350 of bonus we only attracted $1200 of buying power to BTS?   

We need to get the bonus much closer to 5% for this to be worth it in the long run.

Yes - that's what the data says. Another way to look at it though is...

In only a week, with no concerted marketing effort the pool has attracted 10x the buying power to BTS than it did without the bonus.

Not to discount the efforts of our community in trying to get the message out this week - thank you.

I agree we need to keep a close eye on the 'return' on your bonus investment... it's too soon though to measure it's true effectiveness...
What your helping to do now though is build up a history of profitability which miners will look at to gauge if they should switch or not.  They won't bother to move if there is no history of performance.

There are three key initiatives that are underway that will quickly let us know if this is ever going to be effective...

I secured today an agreement to have the pool listed at the primary multi-pool profitability comparison website http://poolpicker.eu
I'm working on a step-by-step guide for X11 miners to improve their hashrate/profitability by upto 70% that will be hosted on the pool and shared with the crypto commmunity
rgcrypto and the team have offered assistance to help develop a marketing campaign for the pool.

I'll discuss measuring the effectiveness of the pool with rgcrypto and the team on Sun and see if we can set some realistic goals and timeframes that we can review together.

I do need some help though - It'll likely take me at least 2 weeks to do this, can you recommend anyone who could help quickly modify the pool code to produce a JSON API that can be called by the http://poolpicker.eu comparison site to produce the following style of output...

The sooner we can do it the sooner we'll be listed...

Code: [Select]
{"scrypt": {
"2014-07-21":"0.0052136",
"2014-07-20":"0.0051156"
},
"x11": {
"2014-07-21":"0.0052136",
"2014-07-20":"0.0051156"
}
}

All the core code to achieve something similar is already in the core NOMP pool code here
https://github.com/zone117x/node-open-mining-portal/blob/master/libs/api.js
https://github.com/zone117x/node-open-mining-portal/blob/master/libs/stats.js

thanks


Offline MrJeans

  • Hero Member
  • *****
  • Posts: 599
    • View Profile
  • BitShares: mrjeans
Why such low levels of participation. Are miners being informed of this deal.
How do these stats compare to other mining multi pools.
You guys are doing great, I would have expected much higher levels of participation though.

Offline bytemaster

Are you telling me that the bonus is 22% of the hash power?    That in an entire week even with $350 of bonus we only attracted $1200 of buying power to BTS?   

We need to get the bonus much closer to 5% for this to be worth it in the long run.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline CLains

  • Hero Member
  • *****
  • Posts: 2606
    • View Profile
  • BitShares: clains

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2329
    • View Profile



Offline nethyb

  • Full Member
  • ***
  • Posts: 197
    • View Profile
  • BitShares: nethyb
great idea!!!

how does you convert your coins into bitUSD?

Was using BTER, but will now be using the internal BitShares asset exchange...

And would be delighted to support http://www.metaexchange.info/ when the pair is live...
« Last Edit: February 16, 2015, 08:33:24 am by nethyb »

Offline Shentist

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 1601
    • View Profile
    • metaexchange
  • BitShares: shentist
great idea!!!

how does you convert your coins into bitUSD?

Offline matt608

  • Hero Member
  • *****
  • Posts: 878
    • View Profile
are there threads on btt and hashtalk on this ?

Yeah.. think these updates should have their own thread in these places as well.

This is great work.. I have 100% of my miners pointing there.. I'm always one of the TOP 5 miners... for now. ;)

 +5%

The advertisement of this should be mainly or also outside this forum. Where do you advertise something like this??

I can post updates here, or anyone can:

https://hashtalk.org/topic/31799/mine-usd-at-minebitshares-com-payout-in-bitusd-most-profitable-multipool-bonus-payouts

https://bitcointalk.org/index.php?topic=950460.0

Once the pool is optimised getting listed on the mining sites like coinwarz and others should get lots of interest, though I don't know about the technical requirements to get listed.  Also ads on those sites may be quite cheap and effective, but the pool needs improving first before ads are spend on it.
« Last Edit: February 15, 2015, 06:47:19 pm by matt608 »

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile
are there threads on btt and hashtalk on this ?

Yeah.. think these updates should have their own thread in these places as well.

This is great work.. I have 100% of my miners pointing there.. I'm always one of the TOP 5 miners... for now. ;)

 +5%

The advertisement of this should be mainly or also outside this forum. Where do you advertise something like this??

Offline BunkerChainLabs-DataSecurityNode

are there threads on btt and hashtalk on this ?

Yeah.. think these updates should have their own thread in these places as well.

This is great work.. I have 100% of my miners pointing there.. I'm always one of the TOP 5 miners... for now. ;)

 +5%
+-+-+-+-+-+-+-+-+-+-+
www.Peerplays.com | Decentralized Gaming Built with Graphene - Now with BookiePro and Sweeps!
+-+-+-+-+-+-+-+-+-+-+

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile