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Author Topic: Triple your income from mining with mini-pools!  (Read 15349 times)
Oldminer
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June 29, 2011, 08:52:33 AM
 #1

Hey all, come join my mini-pool (and in doing so start your own!) & let's make some Bitcoin!

Triplemining is a BRAND NEW mining pool, and has not found any blocks yet however there are a number of very good reasons to mine with them:

Whatever your hash rate, all current pools give you more or less the same results. But Triplemining offers you the opportunity to triple your results by way of a clever 'minipool' system. As soon as two of your friends or referrals (with equal or superior hash rate to yours) join you & mine with Triplemining too, you increase your BTC mining income dramatically (note: your friends do not need to have a higher hash rate than you, but the higher the hash rate - the more you make).

With Bitcoin mining, rewards are commonly based on your pool hash rate, mining difficulty, and luck. For this reason big pools can be depressing, especially if your hash rate is not that great, while small pools with a streak of bad luck can leave you feeling frustrated. Triplemining addresses this by allowing YOU to bring together a medium-sized pool with no fees together with clever redistribution of 1% of every block found, to allow your share to grow more rapidly than on any other bitcoin mining pool!.

How do they achieve this?

For every block found, they redistribute 1% of the profits to all minipool owners (people that have 1 or more friends or referalls mining with them) - that's you! The redistribution is passed onto the shares found by your friends, not yours! So if the hash rate of your friends equals or is bigger than yours, your part in the redistribution will be equally bigger!

There's also a Jackpot you can win! For every block found this jackpot is increased by 1% of the total taken from people who are not part of someone else's mini-pool. Once a week the jackpot is paid-out randomly to the finder of a block, provided they are actively mining when the jackpot is drawn! By doing this Triplemining is virtually 'fee-free'.

If you're not convinced yet, consider this:

Statistically everyone has the same potential chance of finding a block. Its like a lottery - the main variable is time. However, the other factor is 'hash rate' - you can improve your 'luck' of finding a block if you increase your hash rate. But that means new hardware right? - Wrong! With Triplemining, you have the opportunity to increase your hash rate by adding friends or referrals to your very own 'minipool'! In addition, your Bitcoin mining can also be rewarded with their weekly Jackpot. So in a way, the fact they are small and new is good news is in fact a further bonus.

Jackpot Bonus! - Launch Special

From June 29th through to July 8th they will distribute 0.5 BTC through their Jackpot every day, irrespective of whether blocks are found.

If you are looking for BETTER REWARDS and BIGGER share participation, Triplemining is the way to go.

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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coblee
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June 29, 2011, 09:11:04 AM
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I'm surprised that people are trying to create a mining pool with a pyramid scheme. Well, I guess I'm not that surprised.

Oldminer
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June 29, 2011, 09:45:28 AM
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Pyramid schemes require investment, go down multiple levels, and eventually implode upon themselves when the money runs out. None of these things apply to this pool.

Firstly, the only people in my pool are those that sign up directly under me. They are free to go on and sign on as many people as they like under them and I have no interest in it at all.

Secondly, IMO theres no investment or payment required to enter the pool.

Thirdly, people are free to join and leave the pool if they choose to do so with no loss whatsoever.

I think 'Networking' is a more apt description ie: The pooling of resources for mutual benefit. It really is just a pool within a pool.

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IlbiStarz
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June 29, 2011, 10:00:41 AM
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A lotta errors on the site, can't even login.

It's better to be pissed off, than to be pissed on.
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coblee
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June 29, 2011, 10:03:18 AM
 #5

It seems like there's no money required to join your pool. But in reality, the "cost" is the lost earnings of the 1% of the 50 BTC found in a block.

This is just like the pyramid emails I get where they ask me to send them $100 and then I can forward the email to 3 of my friends that will each give me $100. The people at the bottom of this pyramid scheme will always lose, because they won't have friends to help them make back the 1% they are losing out on.

Anyways, just my take.

Oldminer
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June 29, 2011, 10:08:42 AM
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A lotta errors on the site, can't even login.

The site is brand new and the owner has a lot of work still planned for it. Did you get a verification email after you registered? If so, and you've clicked that all I can suggest short of emailing them is clicking on 'lost password' and try a new one?

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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Oldminer
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June 29, 2011, 10:16:12 AM
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It seems like there's no money required to join your pool. But in reality, the "cost" is the lost earnings of the 1% of the 50 BTC found in a block.

This is just like the pyramid emails I get where they ask me to send them $100 and then I can forward the email to 3 of my friends that will each give me $100. The people at the bottom of this pyramid scheme will always lose, because they won't have friends to help them make back the 1% they are losing out on.


The 1% you refer to is redistributed to the pool by way of an incentive so I dont see it as a cost.

And anyone can get a friend or referral to signup and anyone can sign up a large pool. Add the benefit they get from that, subtract from that the 1% cut their 'missing out on', & they are still way out in front. The idea of this pool is not so people lose money but to increase their return and I fail to see how I (for example) may get 4 signups, and one of my signups gets 10 referrals, and I'm somehow better off than him when I get no 'flow on' return from his referrals??

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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MrSam
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June 29, 2011, 10:42:37 AM
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A lotta errors on the site, can't even login.

Wow, you are right, there was an infinite redirection loop... Big sorry and fixed ...
MrSam
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June 29, 2011, 10:50:17 AM
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It seems like there's no money required to join your pool. But in reality, the "cost" is the lost earnings of the 1% of the 50 BTC found in a block.

This is just like the pyramid emails I get where they ask me to send them $100 and then I can forward the email to 3 of my friends that will each give me $100. The people at the bottom of this pyramid scheme will always lose, because they won't have friends to help them make back the 1% they are losing out on.

Anyways, just my take.

You are right in some form, but when the pool grows the weekly jackpot wil be 5,6,7 or even 10 BTC. This is way more then the 1% you could possibly make. (Also, pools like deepbit take 3% without returning anything to the pool)

I would like to confirm what Oldminer said before, that it is no real piramid. If you are below me and you add friends, i will have no comission on that.

Please feel free to give any other remarks as i'm doing my best to improve the site for optimal user experience.
Grinder
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June 29, 2011, 11:04:21 AM
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Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity?
jdebunt
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June 29, 2011, 11:15:07 AM
 #11

Quite shocked you're actually posting this right above the original Triplemining thread....no real point in this really Smiley
Oldminer
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June 29, 2011, 11:16:13 AM
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Quite shocked you're actually posting this right above the original Triplemining thread....no real point in this really Smiley

lol I posted it in the 'discussion' forum but it got moved here  Tongue

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coblee
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June 29, 2011, 11:17:02 AM
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Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity?

LOL.

MrSam, it's true that it's not a full pyramid scheme. But it's still a 2 level pyramid scheme, where you benefit from all the people you got to sign up under you. Pooled mining is a zero-sum game. It's about how the 50 BTC (minus fees) are shared among the miners. Other pools share this 50 BTC bases on shares or score. Your pool adds another twist where 0.5 BTC is only shared among minipool owners. Because it's a zero-sum game, in order for minipool owners earn more, someone has to lose out. And the losers are those without any friends.

This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting b/c they are not minipool owners (they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.

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June 29, 2011, 02:15:39 PM
 #14

So let's get in on the ground floor then, lol.

I like the front end. The colors are soothing, and the start-up bounties are unique.

I joined using Oldminer's link.  Oldminer, can you tell us how the "my pool" page looks with a miner in it?

My Litecoin address: Lf9WKM61AhmXchG2Ph2cftHKSQhxHutcdk
My Bitcoin address: 1Hwem4GSQWPCtBTKcSpXg2jYwxF6PtTjZx
--> Have you tried Triplemining.com? <--
MrSam
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June 29, 2011, 02:17:46 PM
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Secondly, IMO theres no investment or payment required to enter the pool.
Great! Where do I sign up to get the free miner hardware and electricity?

LOL.

MrSam, it's true that it's not a full pyramid scheme. But it's still a 2 level pyramid scheme, where you benefit from all the people you got to sign up under you. Pooled mining is a zero-sum game. It's about how the 50 BTC (minus fees) are shared among the miners. Other pools share this 50 BTC bases on shares or score. Your pool adds another twist where 0.5 BTC is only shared among minipool owners. Because it's a zero-sum game, in order for minipool owners earn more, someone has to lose out. And the losers are those without any friends.

This system (like any other pyramid scheme) will collapse in time. In the beginning as people are joining your pool and getting others to join, they will see that they are making more with your pool than other pools. As your miners are able to find less and less people to join, the non minipool owners will realize that they are not benefiting b/c they are not minipool owners (they can't find people to join under them). Those miners will quit the pool. Then their minipool owners will find their mining to be not quite as good and they will quit. Sooner or later, the whole thing will collapse.

I don't quite agree on you, not all money is shared along minipool owners. They are only rewarded by efford of their 'friends'. All users that have no parent will donate their % to the jackpot, that can be won by anyone (top or bottom)

The idea of the system was to get more people by the jackpot, not perse the 'pyramid' as you name it, so even people with no minipool still have better odd's on this pool than any other, and therefore i don't see it collapsing.


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June 29, 2011, 02:19:06 PM
 #16

So let's get in on the ground floor then, lol.

I like the front end. The colors are soothing, and the start-up bounties are unique.

I joined using Oldminer's link.  Oldminer, can you tell us how the "my pool" page looks with a miner in it?

The my pool page currently only shows the names of 'friends', i'm working on a 'control panel' that displays performance data of 'your pool workers'.
Man From The Future
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June 29, 2011, 02:40:51 PM
 #17

The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!
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June 29, 2011, 02:44:24 PM
 #18

The people not giving their 1% to the jackpot shouldn't be able to win the jackpot! Otherwise, one will effectively earn extra money, over time, if they are a mini-pool owner, and the rest lose out on their 1%, as even those not donating to the jackpot can win it!

You are reading it wrong, %1 of 50BTC is taken every time a block is found. Some of that is divided under people who started a mini pool and the rest goes to the jackpot.

So everyone is allways participating.

It is offcourse in your best interest to convice people to join your minipool, but if you don't and you 'solo mine' you still have the chance of winning the jackpot.

Keep in mind that there are currently only 28 people mining so your chance is 1/28 to win 0.5 BTC, that's not so bad is it ? Smiley
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June 29, 2011, 04:01:32 PM
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Oh, that's good Smiley
Oldminer
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June 29, 2011, 04:05:53 PM
 #20

So let's get in on the ground floor then, lol.

I like the front end. The colors are soothing, and the start-up bounties are unique.

I joined using Oldminer's link.  Oldminer, can you tell us how the "my pool" page looks with a miner in it?

hey welcome aboard,

Yea I kinda like the colors on the site too. Not to harsh.

And yea I can see you Pandaminer in my pool list which shows me headings of - Username, Speed, and Date joined. Under that I can see individuals hash rate which is great Smiley

MrSam, how often does the hash rate 'update'?

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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