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Author Topic: Do Pools Generally Keep The "Generated Fees" Associated With Each Block?  (Read 1388 times)
gigabytecoin
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June 16, 2011, 11:25:03 PM
 #1

I have seen a lot of "0%" pools pop up recently...

All of them seem to state "you are getting exactly what you deserve" ... "you get 50 BTC divided by the amount of work you contributed" ...

But there is nothing that mentions dividing of transaction fees, anywhere.

So am I correct in believing that the owners of every major pool simply pocket the transaction fees? (And ask for a "donation" on top of that?! (some of them!))
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Wuked
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June 17, 2011, 12:13:45 AM
 #2

Yes.

I guess this is because

1) Getting the value of the transaction is harder than just setting it to 50BTC.
2) Pools aren't trivial to run, and they deserve some benefits.

I'm running a trial on my pool where we pay out the fees on the block as well as the 50BTC, but I don't know how sustainable it is in the long term.

gigabytecoin
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June 17, 2011, 07:46:01 AM
 #3

Yes.

I guess this is because

1) Getting the value of the transaction is harder than just setting it to 50BTC.
2) Pools aren't trivial to run, and they deserve some benefits.

I'm running a trial on my pool where we pay out the fees on the block as well as the 50BTC, but I don't know how sustainable it is in the long term.

Good to know, thanks for the response!
giszmo
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June 17, 2011, 11:25:28 AM
 #4

pools are evil. at least that's my conclusion.

as long as nobody bothers to debunk my concerns in the other thread, i will stick with this conclusion.

if the profit/year when using a pool is:
* more, they are evil to the bitcoin system.
* less, they are evil to their contributors.

in any case they might or might not be part of cartels and be evil to both on the long run.


eleuthria
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June 17, 2011, 03:40:52 PM
 #5

BTC Guild currently keeps tx fees, and will likely do so until the total of donations + fees are more than 2% per block.   My current plan is to eventually set it up so any txfees which push the income per block over 2% will be split with the pool.  Until then (and even after that point), I disclose exactly how much BTC the pool has generated in TX Fees on our block statistics page.

R.I.P. BTC Guild, 2011 - 2015.
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Mabsark
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June 19, 2011, 06:22:21 PM
 #6

Yes.

I guess this is because

1) Getting the value of the transaction is harder than just setting it to 50BTC.
2) Pools aren't trivial to run, and they deserve some benefits.

I'm running a trial on my pool where we pay out the fees on the block as well as the 50BTC, but I don't know how sustainable it is in the long term.

A lot of pools only payout up to 2 decimal places. If a user leaves your pool, can they withdraw all 8 decimal places of their BTC?
gigabytecoin
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June 20, 2011, 07:43:27 AM
 #7

Yes.

I guess this is because

1) Getting the value of the transaction is harder than just setting it to 50BTC.
2) Pools aren't trivial to run, and they deserve some benefits.

I'm running a trial on my pool where we pay out the fees on the block as well as the 50BTC, but I don't know how sustainable it is in the long term.

A lot of pools only payout up to 2 decimal places. If a user leaves your pool, can they withdraw all 8 decimal places of their BTC?

This irks me too.

It's like a hidden tax for using their services if you cannot cash out 100% of your earnings.

I am sure that as the bitcoin client progresses however that the larger pools will implement such things.
nuclearstar
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June 20, 2011, 11:34:25 AM
 #8

On Wuked's pool I got the whole 8 decimals paid when we found the first block.
same thing happened to the 2nd one (assuming it confirms ok)

--------------------------------------------------------------
LTC - LSnhixMMTg2u7zxnHghgp2SN7xxM1EtYwT
BTC - 18NNhqwVsFXbcMgjpzmg8PtfSWbHEPjrzA
Free Litecoins http://ltc4you.com/?r=12945
Lightspeed
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June 20, 2011, 11:40:06 AM
 #9

This is going to HAVE to change.

Eventually all the BTC we mine will be fees!

Overclocking = money? Greatest full time hobby ever!
1AR2eheP4nckS3tuzZHG6ARYndeddxmeDg
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