BitShares Forum

Main => Stakeholder Proposals => Topic started by: nethyb on March 12, 2015, 11:34:08 am

Title: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: nethyb on March 12, 2015, 11:34:08 am
MineBitShares Reloaded - 100% Delegate Proposal

delegate: minebitshares-reloaded
http://bitsharesblocks.com/delegate/info?name=minebitshares-reloaded (http://bitsharesblocks.com/delegate/info?name=minebitshares-reloaded)

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.

Pool Website http://pool.minebitshares.com (http://pool.minebitshares.com)
 http://www.minebitshares.com (http://www.minebitshares.com)
https://twitter.com/minebitshares (https://twitter.com/minebitshares)

(http://content.screencast.com/users/nethyb/folders/Snagit/media/e3aa3533-7b70-404f-bc9b-e614955a6fc0/2015-03-11_22-49-37.png)

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  (https://rgcrypto.wordpress.com) for details.

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.

(http://content.screencast.com/users/nethyb/folders/Snagit/media/ae7f8d68-7343-4d38-803b-b3e4f475aa6c/2015-03-11_22-53-29.png)

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 (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.com
www.minebitshares.com hosting
pool.minebitshares.com (dev version) AWS hosting
www.minebitshares-com delegate AWS hosting
BTS seed nodes : auseednode 54.77.51.177, euseednode 54.79.27.224:1776 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.
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: xeroc on March 12, 2015, 12:02:54 pm
Fully support this and will update my slate!

+5%!
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: BunkerChainLabs-DataSecurityNode on March 12, 2015, 12:17:09 pm
Me likey... voted for!  +5%
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: Pheonike on March 12, 2015, 02:57:51 pm
Excellent proposal!  An already good service for BitShares will be a powerhouse. Voting now!
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: monsterer on March 12, 2015, 03:09:09 pm
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.

This is a totally killer feature - the PR alone would be priceless!
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: matt608 on March 12, 2015, 04:28:35 pm
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.

This is a totally killer feature - the PR alone would be priceless!

 +5%
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: Shentist on March 12, 2015, 07:02:14 pm
 +5% for mining into physical metal. Would maybe attract a new kind of miners.
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: wackou on March 14, 2015, 10:35:20 pm
Added you to my slate.

 +5% great proposal!
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: MisO69 on March 15, 2015, 12:19:14 am
Alright, voted for your new delegate. I want to mine here however there is nothing in your FAQ. I need to know which address and port to use.
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: nethyb on March 15, 2015, 01:38:17 am
Alright, voted for your new delegate. I want to mine here however there is nothing in your FAQ. I need to know which address and port to use.

Thanks for the support,

Click either the X11 or Scrypt connection info buttons to get the stratum details etc on the front page, above where where is says:

"Select the buttons above for details of how to configure your miner and get started mining bitUSD."

There is also a sgminer.conf file you can download in on the http://pool.minebitshares.com/x11boost page with details as well...

Good point about the FAQ though - I'll have it up today.

FAQ now added..
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: BTSdac on March 15, 2015, 04:31:40 pm
can you simulate a virtual POW coin using BTS user asset .
as the real  POW coin,people use their HASH power to keep network and block chain safety. meanwhile block chain inflate coin as the reward to miner with HASH power .
now create a  user asset  on BTS system , so user asset should inflate coin as the reward to miner with HASH power , so my idea as follow :
1. create a user asset on BTS, set the total supply . how many supply per day , and halve time. and block interval  as the real POW coin
2.release pool of mining this coin /asset.  use the hash power to mine other POW coin  and sell the POW coin and exchange to BTS and buy asset using this BTS
3.send the coin /asset to miner ACC. to HASH power
4.all the miner share all the supply in block interval , so there simulate a virtual different for this virtual POW asset .
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: socal on April 16, 2015, 03:54:48 am
what is the status of the physical gold/silver mining?
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: Gentso1 on April 16, 2015, 06:26:02 pm
what is the status of the physical gold/silver mining?

The gold and silver site is up and running now accepting bit assets for payment.  http://cryptosmith.info/index.php (http://cryptosmith.info/index.php)

I can't speak for minebitshares but DSN was just passed the reigns so it may take some time to get a smooth user experience from minebitshares to CS. 
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: monsterer on April 17, 2015, 09:10:32 am
The gold and silver site is up and running now accepting bit assets for payment.  http://cryptosmith.info/index.php (http://cryptosmith.info/index.php)

I can't speak for minebitshares but DSN was just passed the reigns so it may take some time to get a smooth user experience from minebitshares to CS.

Wow, doesn't this deserve an ANN of some kind? This is news! :)
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: BunkerChainLabs-DataSecurityNode on April 17, 2015, 12:32:18 pm
The gold and silver site is up and running now accepting bit assets for payment.  http://cryptosmith.info/index.php (http://cryptosmith.info/index.php)

I can't speak for minebitshares but DSN was just passed the reigns so it may take some time to get a smooth user experience from minebitshares to CS.

Wow, doesn't this deserve an ANN of some kind? This is news! :)

It's news for CyrptoSmith being up and running, but we still have a ways to go until we get the entire backend updated to do this. This is part of our plans though.
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: Akado on April 19, 2015, 04:39:22 pm
once everything is running smoothly, have you considered starting one of these campaigns? https://bitcointalk.org/index.php?topic=615953.0 my only problem is that it might sound like spam, however having people posting on bitcointalk for something like this, mentioning you could have real gold and silver at your door by mining could have even a small positive impact i guess
Title: Re: [Delegate Proposal] MineBitShares Reloaded - 100%
Post by: BunkerChainLabs-DataSecurityNode on April 19, 2015, 08:25:20 pm
once everything is running smoothly, have you considered starting one of these campaigns? https://bitcointalk.org/index.php?topic=615953.0 my only problem is that it might sound like spam, however having people posting on bitcointalk for something like this, mentioning you could have real gold and silver at your door by mining could have even a small positive impact i guess

Absolutely.. We have been taking in a lot of feedback from miners about what they would like to see and know what improvements we need to make. Miners are not exactly the forgiving type though.. they will try a pool once.. and if it just doesn't cut it they are generally on to the next and don't look back. We have some select improvements to be made in the short term that we know will be essential prior to making a more wide spread campaign to bring on more miners from the bitcoin space. I personally have nearly 1TH of a group of miners that are ready to give us a shot, but only once we have those essential elements regarding payout and of course sha256 support. Beyond Bitcointalk though our campaign to market will be aggressive to say the least. :)