Post
Topic
Board Pools
Re: [6600Th] Eligius: 0% Fee BTC, 105% PPS NMC, No registration, CPPSRB (New Thread)
by
raskul
on 16/03/2014, 11:28:35 UTC
I never said anything about Eligius not paying tx fees. So yes it should be accurate and I'm not going to speculate on differences of opinion.
The actual difference lies in the fact that tx fees are divided on Eligius, on BP, all tx fees are paid as a bonus to the block finder. i merely mentioned this, as TodaysGandalf seemed to have a minor issue with the fact that he was a block finder, and received no bonus reward for being. BP addresses this.

I'm sorry, I misread what you wrote.

I suggest p2pool do the same... and was promptly informed that it goes against the purpose of Bitcoin.  As time goes by (as each halving occurs), the blockreward for miners decreases.  That means the incentive to mine relies upon transaction fees increasing.  Which means any pool that distributes transaction fees to the finder is going to have a problem.

I agree it'd be nice for the block finder to get some sort of reward ... however in the day and age of 4.2billion BTC difficulty, the only way little guys can stay in are with an even (yet proportional) distribution among all pool members.  Otherwise it'll just be the big guys, which will likely be corporations.

M

I agree with you in most of what you say, being my own preference to now mine on a DGM pool, whether better or worse, is a choice i've recently taken. With regards to the finders bonus, well, for me it is irrelevant really, for the specific reasons you state above; with only 170GH/s I am too small and will never be a block finder under current and future difficulty - except for some freakish luck, which I doubt will ever occur. But isn't it the case, as BTC price rises, tx fees need to be smaller - nobody wants to be paying an exponential fee to send bitcoins. this would in the end make it cheaper to use a credit card for purchases, which goes against the purpose intended for bitcoin in the first instance?

I'll remain with my thinking that giving the block finder a bonus is a good thing, even though I will never see that bonus personally, I think it gives extra incentive to mine.