Author Topic: The Ideal Mining Pool  (Read 6816 times)

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Offline markzookerburg

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Stan I will PM you regarding this.
Hopefully we can work something out together

Offline Stan

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The Ideal Mining Pool

During the past six weeks I have agonized while I watched my fellow ProtoShareholders labor in the minefields.  It breaks my heart.  So much pain and suffering.  So much uncertainty and frustration.  So much wasted time and resources.  So much for an incurable engineer to reinvent!

If I were going to design the ideal (objectively fair) mining pool what would it be like?  Well, here’s my Top Ten wish list.  How would yours be different?

Make it easy.  I hate to see people shut out because they don’t have the technical expertise to configure a bunch of source code and IP addresses.  Why can’t I just spend a millibitcoin to the pool’s Bitcoin wallet address and, boom, I’ve rented a mining node for a month?  Spend a whole bitcoin and I’ve got 1000 miners working for me.  Let all my earnings show up in my Keyhotee wallet automagically, without me lifting a finger.

Make it uniform.  As long as mining is intended to be a fair lottery why can’t we have everyone use miners with the exact same performance?  Who said this was supposed to turn into an engineering contest for miners?  That whole circus is just a side effect allowed by the fact that we assume open source software is the only way to achieve transparency.  Its not an end it itself.  Homogeneous mining pools would implement the purest form of lottery if we just had a way to enforce such a rule.
 
Make it incorruptible. I hate seeing bot nets and proprietary pools running off with the lion’s share of a distribution intended for real stakeholders.  Why leave the currency exposed to such abuses?  This is not an engineering and hacking contest!  Set up one official authorized pool and just audit its inputs and outputs to keep it honest.  Let’s see, I rented 1 BTC worth of miners out of 100 total BTC paid to that public wallet address.  I should get 1% of the total new shares created in the transparent block chain.  If I did, I can tell its working fairly.  Why does the lottery need to expose itself to hackers with a counter-productive agenda?

Uh, gee, I guess I don’t need ten wishes.  I’ll settle for these three.  Let the developer run a single authorized cloud pool. As long as we can prove it is honest by inspecting its transparent inputs and outputs, who cares?  If it gives me the same percentage of its outputs as I gave to its inputs, what’s not to like?  Why tie the developer’s hands by forcing her to open her well-intended lottery to unnecessary avenues of attack?  Take my money and give me my share.  Done!





« Last Edit: December 15, 2013, 01:11:32 am by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.