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General Discussion / Re: Decentralizing Mining - The future of BitShares Mining
« on: November 22, 2013, 06:39:00 pm »
I think you're fighting the tide on this one Bytemaster, the type of people you want to incentivize and compensate for paying attention are the ones who see the potential and want to be invested in the idea as they help bring it to fruition through their personal actions. The problem that pools solve is the difficulty of knowing if your work (computer mining) is going to give you a payout because as the popularity of a coin increases (in this case very quickly) the choice to mine by yourself starts looking like a stupid thing to do.
Yes, there are calculators that say you'll find a block every 8 days but that's a lot of faith to put into a fast moving currency and sometimes the odds don't go in your favor and the difficulty moves past you. The point of Mining is to equitably distribute tokens that individuals imbue with value through their interest and want to further build the project.
So the solution is to figure out how to let people join a global pool, operated by the issuing company who can collect a very minimal %, and pay people equitably for their contribution. Then it truly is a fire and forget sort of operation, and as the operator you can determine if you want to allow cloud miners or if they should be off in their own pool using miners they create themselves.
Solve the pool problem by catering to the need that demands Pools be popular.
Yes, there are calculators that say you'll find a block every 8 days but that's a lot of faith to put into a fast moving currency and sometimes the odds don't go in your favor and the difficulty moves past you. The point of Mining is to equitably distribute tokens that individuals imbue with value through their interest and want to further build the project.
So the solution is to figure out how to let people join a global pool, operated by the issuing company who can collect a very minimal %, and pay people equitably for their contribution. Then it truly is a fire and forget sort of operation, and as the operator you can determine if you want to allow cloud miners or if they should be off in their own pool using miners they create themselves.
Solve the pool problem by catering to the need that demands Pools be popular.