MineBitShares Reloaded - 100% Delegate Proposal
MineBitShares is the BitUSD multi-pool that aims to be the most profitable multi-pool with 0% fees and bonus payouts for every miner, every day.Proposal Overview
MineBitShares primary purpose is to attract new users to BitShares and BitAssets by offering miners the most profitable multi-pool mining experience along with the stability and yield benefits of virtually mining BitAssets.
The delegate fees will be used to cover the infrastructure and running costs of running the pool, pool development (my time and bounties) and will allow the pool to continue to operate with a 0% pool fee to improve profitability and so attract new users.
This proposal is to replace the two current 3% minebitshares delegates with a single 100% delegate. Business Case
The business case for supporting minebitshares is primarily based on the the value of the pool’s contribution to marketing BitShares to new users.
Since the pool relaunch 1 month ago and the change to BitUSD payouts, 0% pool fee and bytemasters bonus we’ve had some great results:MineBitShares provided the most new registered accounts of all referrers in Feb
see Adams update https://bitsharestalk.org/index.php?topic=14816.msg191888#msg191888
, and rgcrypto's blog https://rgcrypto.wordpress.com
And we’ve paid out over $5,870 in bitUSD in 946 separate payout transactions for the month.
We very much expect to continue to be a top referrer, converting crypto miners to BitShares/BitAssets users and community members.
A secondary business case is in supporting other BitShares community/delegate projects by providing liquidity and customers.
We’ve been testing and in discussions with the https://www.metaexchange.info
team in using their service to source the payout BitAssets in exchange for the BTC the pool miners earn. Future plans could allow miners to be paid in any future asset supported by metaexchange including BitSilver.
And we’ve had discussions with Gentso1 of http://cryptosmith.info
for cross-marketing and finding a way for miners to effectively mine physical Silver or Gold with payouts in BitSilver exchanged at cryptosmith.
Eventually referral and affiliate fees with integration partners such as metaexchange, cryptosmith may be enough to fund the pool operating costs and remove the need for delegate pay, while still keeping the pool fees at 0%. Development and future plans
The pool development plans are all focussed on attracting new miners, increasing average pool hash-rate and earnings resulting in increased exposing to BitShares and BitAssets to the crypto community.
We’ve just completed the ‘MineBitShares free guide to boosting your X11 mining hashrate and profitability by up to 70%’ (http://pool.minebitshares.com/x11boost
) a detailed step-by-step guide which will be marketed to the crypto community to attract new miners and users of bitshares. We’re working with rgcrypto and the team to help maximise the effectiveness of this immediate campaign.
The next focus for pool development is now to develop the pool profitability API which will enable us to be listed on the pool profitability comparison site http://poolpicker.eu
. Essentially free-advertising which will show how profitable we are in comparison to the the big mining pools and so attract more miners and BitShares users.
Other developments plans include:
Marketing the pool to our Chinese community, potentially with a dedicated pool based in Asia with Chinese language support.
Pool integration with MetaExchage for BitUSD purchases and payouts with potential future payouts in any BitAsset supported by MetExchange.
SHA256 also mining support to bring in a new set of miners and revenue stream
CryptoSmith affiliation to allow ‘MineBitShares miners to mine real Silver and Gold’
Pool usability improvements - worker payout history/searching, updated pool charts and stats.How delegate funds will be used
Primarily to pay the infrastructure costs for the following, the AWS bill alone for all the pool /delegate infrastructure costs are currently averaging $550 US per month:
pool.minebitshares.com AWS hosting server
DDoS protection for pool.minebitshares.com
Uptime monitoring and alerting for pool.minebitshares.comwww.minebitshares.com
pool.minebitshares.com (dev version) AWS hostingwww.minebitshares-com
delegate AWS hosting
BTS seed nodes : auseednode 220.127.116.11, euseednode 18.104.22.168:1776 AWS hosting
The rest of the delegate funds will be used to fund my time developing/operating the pool and to help with paying bounties to help with pool development.
Pool operations/payouts currently take around 1.5hrs every day and development at least another 12 hours per week totalling at least 90 hours per month. Call to action
Please vote for the new 100% minebitshares-reloaded
delegate and update your slates.
And downvote the old www.minebitshares-com
and www2.minebitshares-com 3% delegates.
Thanks for everyones continued support over the last 9 months, cheers, nethyb.