Terk,

Whether you're aware of it or not, you show all the indicators of being someone who wishes to prey upon the innocence of your partners -- the very people who provide the mining hardware and electricity to create the hashpower upon which you take your cut.  They are making a significant investment too;  they are entitled to information which helps them to make good decisions as well.  Your marketing skills and salesmanship are right up there with the very best of them, but unfortunately though, your unwillingness to provide any specifics about your fee schedule is major cause for concern, and the pool ends up looking very shady as a result.

Of course I believe that you should be able to fully cover your expenses (some of which are not yet even known), and also fairly compensated for your time and effort, including bonuses for exceptional results.  Operating a multi-coin mining pool is most certainly not a turnkey operation, but you need to be clear about the fees you're taking if you want to earn any credibility and trust.  (And taking is exactly the right verb there -- you are taking if you do not disclose.)

I am not even so concerned about the high end of the rate either.  You can claim "as low as 1% on a bad day" if you've ever collected exactly 1% on any bad day ever in the entire history of your pool.  And what exactly is your definition of a "bad day"?  Is it one in which we earn the same as or less than litecoin?  Or something else?  On exceptionally lucky days, why should you take a much larger percentage if the proceeds if they are mostly a result of luck and not operational efficiencies?  Do you deserve more of the good luck and less of the bad luck?  How is that fair to your miners?

In consideration of the higher end range of your fees, a subject with you have completely avoided discussing, likely because you recognize how much easier it is to siphon off a much larger cut when everyone is feeling good about their earnings for the day and less motivated to look more closely than on a bad day, why don't you offer 0% fees for days in which we fall below that "bad day" standard -- such as the days on which your pool results fall below litecoin due to technical failures?  Where is your skin in the game?

As for your opacity in choosing not to discuss which coins you choose to mine... Absolutely everyone mining can determine with near absolute certainty which coin they are currently mining by reading the Network "Diff" value from the Block line on their cgminer stats, divide it by 65536 (a scrypt constant), and match the result to the list of coin difficulties on coinwarz or coinchoose (without having to run all the various wallets themselves).  THERE ARE NO SECRETS HERE!  And it's hardly difficult to imagine efficient profitability optimizing coin switching algorithms.  We simply don't want to do it ourselves, as it is more efficient to contract out to the best service provider.  That is your opportunity.  Don't squander it by being opaque and greedy.

So now one of your cats is out of the bag.  How about you be upfront about your fees now too?  No one here is saying they have to be set in stone, and you can change them as necessary going forward.  And if any particular miners don't agree with them, they can vote with their feet and go to another multi-coin pool.  (Of which there will soon be many!)  Will your pool survive against the increased competition?  Stop being clever and start being smart.

Hi, I am trying to get into the bitcoin craze but each time I research iant  seems as if everything is in another language as I am not well versed in tech lingo.

A few questions I have would be:
What is the purpose and benefits of bitcoin?
How do you obtain Bitcoin?


I already was advised to sign up for a wallet thru Blockchain, so I did but I have no idea what to do with it from there...

Some don't understand the affect of difficulty on profitabilty.
Some mine for fun and to support the bitcoin network.

ok finally i got signature figured out.. now does anyone wanna buy this from me before he ships it? .05 btc is min offer!

let me know!

Hi guys i just sell 10BTC at bitcoins4currency.com and they send to me a block erupter, i dont think this things are still profitables. has anyone mining with block erupters and getting profit?

Never buy anything from BFL, they will not deliver on time and you will probably not get the advartised hashrate from there products either.

Those Bieber's fans can't really tell if it is a word or not. 

I have just tried 2 threads but it crashes after few mins saying thread 6 still exists killing it off. What does this mean?