Quote from: weyhey27 on April 28, 2018, 11:43:55 PM

Quote from: GrapheneCapital on April 14, 2018, 07:53:05 PM

Quote from: YourMom420 on April 14, 2018, 05:19:48 PM

Are there any mining pools or solo only?

Hey YourMom420,

My name is Greg and I'm a GMN holder and have just started a mining pool. There was a post about how this would work on reddit, as there is no sure fire way to make it truly "trustless" at the moment. However, here is a system that I believe is as close as you can get to being trustless. Feel free to let me know what you think, and direct message me if you're interested and we can go from there.

PRE-Token Swap: I will be paying 3 WTC for every WTCT block mined to the WTCT address:0xa2bc21f35c7beccef2a86273e77680a8811d24e1 Note: I am paying real WTC not the WTCT, as WTCT is not worth anything

POST-Token Swap: The swap will most likely take place in 20-60 days. The pay rate per block I will be paying has not yet been determined but would be in the range of 2.5 to 2.9 WTC per WTC block mined. I will work with miners to determine a rate that is worthwhile and I will communicate more when that time comes closer.

Proof of Payment: I will be paying from the following address roughly every 24 hours (to reduce risk, see risk mitigation for more) or within 24 hours after a request and you can track that all payments per block on the WTCT address are accounted and paid: https://etherscan.io/address/0x086833f7a48eca35a3d7125a48ca3c52f4554af7

Unaccounted for blocks will be distributed to miners based on each user's percent of total mined blocks. I expect all blocks to be accounted for as there is no reason a miner wouldn't want to get their 3WTC payout but in the event that there is some left this is how I will deal with it. Example: if you mine 10 blocks of 80 total blocks on the account and there are 3 blocks (9WTC) unaccounted for at the end of token swap. You will get 10/80*9 = 1.125 WTC.

Handling Conflicts: Until a more robust system is developed to automatically track what users mined which blocks and pay them. I will request that each miner submit to me a list of blocks that they mined this is shown on their Command Line Interface (CLI)/CMD. I will have a 24 hour delay in payments from the time the block list was submitted to me, this will provide a buffer to see if anyone else is claiming the same mined block. If there are any disputed blocks, I will contact both parties and request screenshots or any other proof that they did indeed mine the block in question. I will review the evidence and see if I can make a reasonable determination to who mined it. If I am not 100% certain I will submit the evidence to the mining community and have them determine who should receive the funds. Anyone attempting to cheat the system will be asked to not mine any further blocks. If there is absolutely no way to determine who mined the block in dispute I will pay both parties 2 WTC for the block.

Reasonable Risk Mitigation: There is some level of risk with any mining group that is not autonomous, I would like to outline the risks and provide reasonable level of support for why you shouldn't worry. Risk 1: You mine your first block and notify me and I just don't pay. Answer: As a miner that didn't get paid for your work you would obviously leave, and you are out the ~$17 your block was worth and you move on. I would gain the $17 and then lose out on the 1 wtc per block I would get from you in the future, my current miner has mined 8 blocks so that's 8 wtc I have made from him vs the 2 wtc I could have stolen. So even in a few days of losing a miner I would lose out on huge amounts of profit if I ever cheated any of those mining. After you have mined 2 blocks and I pay, the risk is not really there anymore as you have already earned the 2 extra WTC you wouldn't have had to begin with if you mined solo. Risk 2: You mine your block report it and someone else claims the same block. Answer: see (Handling Conflicts) but it is in my best interest to reward the honest miners and get rid of anyone lying. If there is absolutely no way to determine who mined the block in dispute I will pay both parties 2 WTC for the block. And neither of you would be out any other then the bonus +1 WTC reward If there are any other risks I haven't thought of please let me know and I will address them.

Here's some more proof if you're inclined https://i.imgur.com/k0kHuWZ.png https://i.imgur.com/Mvafk5N.png

Greg, aka GrapheneCapital, is true to his word. I just received 12 WTC for four blocks I mined for the pool.

Thanks weyhey! If anyone else would like to mine to our pool, please feel free to contact me at gmnholder@gmail.com or @t1crypto on telegram!