Re: BiblePay | Masternodes | Sanctuaries | POBH - ASIC Resistant

Fair nuff, figured I'd ask the question

Quote from: jaapgvk on June 10, 2018, 11:07:19 AM

I think that the bbppool is a potentially awesome addition to our project

It should give newcomers the ability to build up enough bbp so they can stake on their own without having to infest a lot of money from the get go.

This pool also releases me of the concerns I had with the 20BBP/RAC maybe being too high for newcomers. If it gets out of beta and proves to be fraud resistant, I think it could help us grow

My concern with this pool is the 35% fee(was said to climb to 65% earlier, I hope this doesn't happen). but otherwise I agree its a good start.

I would like to see verifiable openness in the way these fees are being used. In the beginning I can imagine that most of the fees will be used to grow the stake (the pool needs to stake a lot of BBP in order to be able to work). Also, of course, some fees go to development, maintenance and 'profit' (and some of the fees will be used to repay people who have seeded the BBP needed for starting up). Besides that I would like to see excess BBP being used in lines with the spirit of BiblePay, preferably being sent to the orphan-wallet.

The high fees are needed though, because I think not having high fees will make it easier for botnets to find their way to our network.

Having said that, I see the pool as an experimental thing, but I'm curious what the future will bring

these fees are simple math. you can stake 1.5m to masternode, or to pool. 1.5m is ~75k rac and this is about 10k bbp/day vs 4k bpp/day from masternode
so fees are covering losses to not stake as masternode

but 65% is still better than 0% for most of beginners...

What about some kind of KYC verification or video identification to eliminate the bot threat on the pools?