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Title: Who wants to create the first pump multipool? Post by: tokyoghetto on April 17, 2014, 04:45:20 PM Its an just an idea so let me give you the paper napkin version.
We create a pump multipool. The way this would work is simple. First miners would buy into the pool. The amount of BTC sent determines the percentage of the profits at the end of the pump. Miners then would commit hashes to a pool. At the same time they would vote on the coin that they feel should be pumped. This is a blind vote so no one will know what coin wins. The pool then would use the buy-in fee to buy up the coin being pumped and only after the coins are bought, will the pool mine the most profitable coins, dump for BTC then use the BTC to buy up the pumped coin. Once the pool determines it can exist the entire position at a profit, will it sell the initial position plus all the mined coins. The profits are split amognst the miners in BTC. so lets break it down a bit easier: 1. miners/investors buy into the pool 2. miners/investors do a blind vote on the coin to pump 3. pool uses the buy in fee to buy up the coin that wins the vote 3. miners then use multipool to buy up the coin that wins the vote 4. Once the pool can sell the coins bought through the vote + multipool at a profit, it does so. 5. profits are split among the miners/investors Miners who hop in and out get the percentage from the profits lowered, this forces miners to stick with the multipool in order to receive their share of the profits. You can also have non-miners "invest" in the pump by buying in. They would receive a lower percentage of the profits, but don't have to commit hashes. Blind voting is done so no one can frontrun the pool. Also the coins that would be voted on need to meet certain criteria like liquidity so that we don't pump a non-liquid coin to the moon. This helps us get in and out of positions without crushing the price. Then we repeat the cycle. Title: Re: Who wants to create the first pump multipool? Post by: sonysasankan on April 17, 2014, 05:39:18 PM Its an just an idea so let me give you the paper napkin version. We create a pump multipool. The way this would work is simple. First miners would buy into the pool. The amount of BTC sent determines the percentage of the profits at the end of the pump. Miners then would commit hashes to a pool. At the same time they would vote on the coin that they feel should be pumped. This is a blind vote so no one will know what coin wins. The pool then would use the buy-in fee to buy up the coin being pumped and only after the coins are bought, will the pool mine the most profitable coins, dump for BTC then use the BTC to buy up the pumped coin. Once the pool determines it can exist the entire position at a profit, will it sell the initial position plus all the mined coins. The profits are split amognst the miners in BTC. so lets break it down a bit easier: 1. miners/investors buy into the pool 2. miners/investors do a blind vote on the coin to pump 3. pool uses the buy in fee to buy up the coin that wins the vote 3. miners then use multipool to buy up the coin that wins the vote 4. Once the pool can sell the coins bought through the vote + multipool at a profit, it does so. 5. profits are split among the miners/investors Miners who hop in and out get the percentage from the profits lowered, this forces miners to stick with the multipool in order to receive their share of the profits. You can also have non-miners "invest" in the pump by buying in. They would receive a lower percentage of the profits, but don't have to commit hashes. Blind voting is done so no one can frontrun the pool. Also the coins that would be voted on need to meet certain criteria like liquidity so that we don't pump a non-liquid coin to the moon. This helps us get in and out of positions without crushing the price. Then we repeat the cycle. Interesting.... sounds like a good plan. What are you going to do about different algos? I may be wrong, but I think most miners invest in coins that they are not mining... usually those would be a different algo. If I have my rig set up for x11, I would buy a scrypt coin that tends to go up, etc. Its a lil bit of a hastle to keep changing algos to provide the hashes requires. I suggest keeping the voting seperate and having a separate list of all the hashes of the different algos. That way you would know that your (for example) 300 MH hashing power on X11 and if the voted coin is a X11 coin, it would be easied to do mental calculations. For this you would have to give the users the option to vote for pumping coins they themselves cannot provide hashing power.... and you would need to do some sort of weighted payout system. I'm game if this is starting :) |