Bitcoin Forum

Hej guys, since there is clearly alot of doubt / discussion about this i would like to explain it once more in this thread.

How does it work?
Every time a block is found, 1% of the block goes back to the pool, the redistribution is as follows:

    User1 registers on his own, his part of the 1% fee goes to the pool and is redistributed to anyone via the weekly jackpot.
    User2 registers using the link of User1, his part of the 1% fee goes to User1.
    User3 registers using the link of User2, his part of the 1% fee goes to User2, nothing goes to User1
    User4 registers using the link of User3, his part of the 1% fee goes to User3, nothing goes to User1 or User2

There is no limit to the amount of users that can be part of your minipool.

Conclusion: There is no downside to joining someone else's minipool, while you have a lot to gain from starting your own minipool!

PS: This system lacks all the required items needed to be called a pyramid scheme, since there is no-one at the top, and the top layer has no advantage over the bottom layer.

PS2: It is strange that there is so much fuss about a 1% block fee redistributed to the pool, it seems that some of you would like the pool to keep that fee, full stop.

Yes!  Get rid of pools all together I say!

 Like the way this operates, thanks for the further explanation :)