[ANN] ⚫️ BLOCKPOOL - Real World B2B Blockchain Solutions ⚫️

[theblockpoolbeard]

Blockpool network is a joke.
Removing this 5% distribution crap and replace with 1 BPL reward per block and see what happen. I'm sure almost 100% investors want this way seen beginning and not the 5% distributions which cost so much headache with the SEC, exchanges, and node operators.

Good idea! Generate 1 BPL per block even at random is less confusing than 5% BS. Delegation system is the most confusing. Why do we have to join a delegation and pay %. It's taking us away from true decentralization imho. Whose right idea was it to come up with this? Genius! (NOT)

BPL has its own chain, so it is a coin. A proof of stake(POS)?

and make a useful utility out of it / beneficial to own this coin

Hi there,

BPL is a DPoS coin however our strategy is not based on being a "crypto currency"; BPL is the access token to our sidechains and smart contracts.

The benefit of becoming a delegate for BPL (whether by running a node yourself, or voting your balance to a pool) is that you will benefit not just from forging rewards on BPL but from every sidechain that is forged for as well. This is a multiplier effect. Having a high rate of inflation (1 BPL per block would be huge) would not fit in with the strategy for BPL either.

There is a huge utility to BPL, much greater than just having it as Just Another Crypto Currency.

Thank you for your question

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[locohammerhead]

There still seems to be some confusion as to why we choose an annual percentage rate over a fixed block.

Traditionally cryptocurrencies have had a fixed block reward like bitcoin, however an annual percentage rate is not abnormal either.  Many of projects have used this method as a more stringent way to manage inflation.  I understand that not everybody likes annual interest rates, it reminds them of banks.  We understand this.  However our focus is towards business integration, not payment solutions.  Most businesses that are not currently into crypto like the rest of us are put off by fixed block rewards, they understand annual interest rates and compound interest. Businesses like this because its better for their bottom line, they make more over time.   The 5% rate has nothing to do with the SEC or US regulations and exchanges aren't forging on the BPL Masterchain so that is totally irrelevant.  The annual interest rate also encourages Delegates to hold into more of their tokens due to compounding rewards.  Because of this the longer you hold and forge the more BPL you earn over time.  

Both systems have their downsides and their upsides.  

One thing I would like people looking to become Blockpool delegates to know is that not all of our sidechains will have an annual interest rate like we do.  The creator of the sidechain will be able to decide the reward system that best fits their project.  To forge on the sidechains it will be a requirement to be a BPL Delegate in good standing.  You won't have to be in the top 201 though but a solid uptime is required.  

Blockpool delegates will earn more than just Blockpool tokens if they are forging on our sidechains, they will also receive the rewards for the sidechains they choose to forge on.  These could be fixed block rewards or percentage rate rewards.  BPL Delegates will be able to enable up to 60 sidechains they wish to forge for, assuming their VPS is capable of handing all of those chains.  Our Delegate management Software will make it easy to know how many sidechains a specific VPS would be able to handle.

Hopefully this fixes some of the confusion.  If anyone has a question as to why we did what we did beyond what I explained here I am more than happy to answer them.  We just ask that they are presented in a respectful manner.  If you're not happy with the solution nobody is forcing anyone to be a delegate.  We do have pools available to vote for that provide consistent payouts and these pools will also be sidechain enabled.  If voting for a BPL pool currently isn't up your alley simply because of the annual percentage rate, then my only suggestion is to either wait for sidechains to become enabled and vote for a pool forging on only fixed reward chains.  

Regards,
Loco

[billybonus2]

I need to help here. I registered delegate but i´m missing blocks. It is not enough just to keep wallet open 24/7? What else is needed for "mining"?

[locohammerhead]

I need to help here. I registered delegate but i´m missing blocks. It is not enough just to keep wallet open 24/7? What else is needed for "mining"?

Hi Billy,

Blockpool runs a DPoS Chain.  In order to forge you will need to run our dedicated node software, which can be found here: https://github.com/blockpool-io/BPL-node

It does take some linux knowledge and configuration but the steps are all laid out in the readme.  We also have a install script which works for VPS's in the US region.  We are working on bringing this script to other regions as well.  If you need additional help there is usually someone around to assist in our Discord channel. 

Minimum requirements to run a node
2 core
4 GB RAM
120 GB SSD
100MB/s network connection

One of the providers we recommend is called Contabo.  Their VPS services baseline provides more than enough hardware to do what you need and will be compatible with sidechains, which will come further down the line.

If you take a look at the readme and figure its more than you wish to do, you can always remove the vote from your delegate and vote towards a pool which pays out automatically without the need to run a node.

As always feel free to leave any questions here to to PM me and I will respond as soon as I can.

Regards,
Loco

[Rosam]

I am a bit confused reading your last post saying

"you can always remove the vote from your delegate and vote towards a pool which pays out automatically without the need to run a node."

I am not sure I See the difference between voting for a delegate et voting towards a pool ?

[00johnston00]

The 5% rate has nothing to do with the SEC or US regulations

Anyone vaguely familiar with basic US securities law understands that a 5% profit sharing dividend has everything to do with US SEC regulations.  When you offer a share of your profits to asset holders, that asset is a security.  This is common law and knowledge.  Below is the grossly negligent memo released by Blockpool's discount legal counsel, regarding their (painfully inaccurate) opinion:


https://i.imgur.com/bexvd1E.png


Don't take my word for it.  Don't take Blockpool's word for it.  Do your own research.  There are competent projects out there.  Blockpool is simply not one of them.

inb4 Blockpool devs and fanboys call me a troll, instead of refuting the fact that their profit-sharing token model is an illegally created security in the United States

[HomoHenning]

consider DPOS earnings as any other mining profits just like BTC mining

[thenextking]

00johnston00 is not talking about DPOS. He's talking about this statement from Blockpool, "The Company may make a distribution to the holders of BLOCKPOOL in a sum equal to 5% of the Companies net profit after tax in any year.". This is just stupid and lose-lose situation. It is a win-win for them Blockpool if they would just keep this to themself and give 0.5 BPL per block instead, plus the current interest, everyone happy and less headache. I agree to 00johnston00, Blockpool probably have a fake lawyer or just half baked one. This is clearly dividend, don't matter how you want to put or distributes it.

[target]

There were also some team that distributes dividends but after they learned about SEC, they changed their position and begin calling the dividends as airdrop. Its not so much of a bad idea to bend for the progress of the project. Why complain much about it if you can just dump your BPL and leave this project.

[locohammerhead]

I am a bit confused reading your last post saying

"you can always remove the vote from your delegate and vote towards a pool which pays out automatically without the need to run a node."

I am not sure I See the difference between voting for a delegate et voting towards a pool ?

Hi Rosam,

If you are running your own delegate you would need to vote your holdings towards it to be eligible to forge.  You would also need a well rounded PC or a good VPS running all the time.
Voting for a pool is different since it doesn't require node maintenance knowledge or setup, however the pool takes a % of the forging rewards in return for doing the hard work. 

[locohammerhead]

It looks like someone is trying to confuse forging rewards with dividends.

So let's clear this up.

Forging is basically the same thing as mining.  Delegates are being paid to find blocks, just like every crypto out there.  Instead of a fixed reward like most of crypto, we went with an annual percentage rate of 5%.  This is also nothing new.  Proof of Stake coins have been doing this since early 2013.  One of the oldest coins Blackcoin does this and same with Peercoin.

Please ignore the people trying to cause confusion.  They are just doing it for lulz.  If anyone has a question I'm more than happy to answer.

[locohammerhead]

Attention Delegates

We have updated the list of seed IPs in our github configuration file.  Please update ASAP as it will improve your nodes stability.
 
We have created a simple script to update the configuration file for those who installed manually.  Just copy the script over to the BPL-node directory and run: https://github.com/blockpool-io/update-peers

For those who used BPL Commander we fixed the code so you can now update your node directly from that, just pull in the latest from our github here: https://github.com/blockpool-io/BPL-Commander

Follow the prompts in the console.

[HomoHenning]

my node crashed 3 days ago maybe because of this update?! maybe you could announce update in advance?
had to update commander (manually via git pull) and the node in the commander. now its working again

[HomoHenning]

It looks like someone is trying to confuse forging rewards with dividends.

So let's clear this up.

Forging is basically the same thing as mining.  Delegates are being paid to find blocks, just like every crypto out there.  Instead of a fixed reward like most of crypto, we went with an annual percentage rate of 5%.  This is also nothing new.  Proof of Stake coins have been doing this since early 2013.  One of the oldest coins Blackcoin does this and same with Peercoin.

Please ignore the people trying to cause confusion.  They are just doing it for lulz.  If anyone has a question I'm more than happy to answer.

But this statement ""The Company may make a distribution to the holders of BLOCKPOOL in a sum equal to 5% of the Companies net profit after tax in any year." has nothing to do with DPOS earnings or? This is about profit sharing which would make BPL a security token. this is the concern...

[locohammerhead]

my node crashed 3 days ago maybe because of this update?! maybe you could announce update in advance?
had to update commander (manually via git pull) and the node in the commander. now its working again

The update to github was just updating the seed IPs in the config file.  It was more likely you had the old IPs which caused the problem.

[locohammerhead]

It looks like someone is trying to confuse forging rewards with dividends.

So let's clear this up.

Forging is basically the same thing as mining.  Delegates are being paid to find blocks, just like every crypto out there.  Instead of a fixed reward like most of crypto, we went with an annual percentage rate of 5%.  This is also nothing new.  Proof of Stake coins have been doing this since early 2013.  One of the oldest coins Blackcoin does this and same with Peercoin.

Please ignore the people trying to cause confusion.  They are just doing it for lulz.  If anyone has a question I'm more than happy to answer.

But this statement ""The Company may make a distribution to the holders of BLOCKPOOL in a sum equal to 5% of the Companies net profit after tax in any year." has nothing to do with DPOS earnings or? This is about profit sharing which would make BPL a security token. this is the concern...

The terms of service for the TEC stated that we hold the right to do that sort of thing but aren't obligated to do so.  We did it this way because when we ran the TEC, revenue shares were still a VERY grey area for the SEC and they had not yet made a statement.  We blocked all US FIAT purchases and at the time because things were pretty clear in those regards, the SEC had not yet made a statement about purchases in crypto.  We are also a UK based company and aren't subject to US laws like US based companies are.  While we understand that US based exchanges are subject to US law, we aren't focused on getting onto any of them anyway.

We also updated our documents to term them air drops as suggested by another member above.  Hopefully this helps clear things up.  

However the CFTC seems to take a completely different stance than the SEC does in saying that a utility token is not subject to SEC ruling.  Blockpool is by definition a utility token.

[jayso043]

Hi, been trying to claim the distribution tokens from the TEC site. Who do I contact to gain access, it's asking me to "Please confirm your email to activate your account", yet didn't receive the email and there is no option to resend the activation email. Thanks

[atteggos]

it's a mystery that such a good project has a so low price...

[gamerfan]

Is this a dead project or what else?

[Harlekin987]

can we stake Blockpool ? is staking working in current wallet ? thx