Triplemining.com || Ponzi scheme ? Pyramid ?

[arnoldrimmer]

and when does he pay? I am waiting 2 Days...

[CNMOH]

and when does he pay? I am waiting 2 Days...

No block has been found the last two days.

[MrSam]

I feel that you are reflecting this to much on your self as in not wanting to be the 'very bottom layer' with no own minipool, that shares %1 of his income to a dude he does not even know.

There went a great deal of tought into the setup, and i felt that it was the right thing to do, i didn't want to be the next best pool and i don't like the idea of a real pyramid with infinite layers either.

My general idea was that, since i allready have servers for other purposes that instead of taking a fee myself, it would be cool to redistribute that income. For me that would mean free advertisement (i mean look at the forum, banners everywhere). And nobody looses ?

Well thats what i tought. Now all kind of conspiracy theory's are spinning up, saying that this whole thing is a scam.

I'm going to try and convice you one more time...

Forget the 1% fee, think for yourself that it goes to me, subscribe directly on www.triplemining.com and nobody will ever get a comission on you.

Apart from that, our pool has the best block acceptance rate of any other pool. i will bet you now 1BTC that if you mine on my site for 24, and then the same on any pool of your liking that you will have more valid shares, and have earned more. How's that for your 1% loss ?

Statistically everyone has the same procential chance of finding a block, the only variable is time. Although time can be a psychological factor in considering what pool to mine with, the results are the same all ove. My pool is no different in that respect.

[CNMOH]

Apart from that, our pool has the best block acceptance rate of any other pool.

[WillMitchell]

What characteristics?

The fact that people join in an unknown person's downline and he gets money from their work without doing anything.
The person joining benefits nothing while the referrer earns from his work.

Same thing with MLM schemes; You recruit people to sell useless crap, while selling none of it yourself; They work for you.
Except with triplemining, they *pay* to work for you.

As in the example above, for every 100 bitcoins you'd mine at a 0% pool, you are recieving just 99 BTC at this pool.

For every 50 BTC found, you get 49.50.
The 0.50-1 BTC goes to the person who referred you. You are giving him money for mining.

Sure, in this case people don't deposit money. It's definitely no ponzi scheme because nobody is 'out' of anything (except that 1%) if new members aren't recruited.
But the ones already in the system lose every day.

"Who cares because triple mining is fun, 1% is nothing" seems like a lame excuse for taking someone's money. If the person you referred wants to make back that 1%, he either needs to recruit even more members to the pool so he gets something, or hope to win a "jackpot".

BTW: You stole that banner from Panda, lol. You even leeched off his photobucket account. But I guess parasites will find a shortcut for everything

Ok...so how is it a ponzi scheme or pyramid scheme? You cant just apply negative words to things and call it correct context. Hey, I think spiders are all hyperinflation...See how it doesnt make sense? You cant say, "Oh there is a viral marketing angle to this business, it must be a pyramid scheme".

I have never been so sure that this forum is a bunch of high school and college drop outs thinking theyre entrepreneurs for buying overpriced computer hardware to create $100 in passive income in an asset that is topping out.

Back to spamming...
Parasites  

[WillMitchell]

I bet that when you go out with your friends you allways split the bill and complain that you only had a water.

Not really. I insist to pay the bill usually.

Your pool expects all the diners to tip the guy who introduced them to the restaurant, because it's "fun" and "we're supporting a smaller restaurant".
Except that guy doesn't represent the restaurant. You are supporting him personally; Not the owners of the place.

It only makes sense for the guy getting free money for nothing.
The other people are paying to do something that ordinarily doesn't cost anything. Everyone loses except the referrer.

:facepalm:

Looks like tiered referral systems are a little bit out of this guys mental range...

[WillMitchell]

But, because the interactions are voluntary and people wouldn't participate if they didn't feel that doing so benefited them, it is actually beneficial to all three parties involved.  If it wasn't, nothing is forcing them to participate.

People voluntarily take part in ponzi schemes all the time.
People voluntarily gave Bernard Madoff billions of dollars.

Just because it's voluntary doesn't mean they don't understand they're getting ripped off.
TM used to advertise with the slogan "triple your mining income", that probably fooled a lot of miners new to bitcoin.

Nothing of value is lost by educating people about the risks of joining something they will lose money to.
1% of your earned bitcoins is still a loss.
It doesn't support the site or it's hosting fees, it supports a random parasite who had enough coverage for his link for it to be noticed by anyone.

The fee doesn't go into growing the site's advertising budget or running costs.
It goes to someone spamming forums with banners and links as long as it yields a few cents.

This is nothing against you or people recruiting their friends & random people online. More power to you; You're smarter than the guy who joins under you; You deserve every penny and I commend you for that.
I'm just telling the bag holders how things are.

1.This is where you are fundamentally wrong, everybody has to tip.
2.But if you really feel so bad about this

1.   1% tip of a 0.5mhash CPU miner is nominal at best, and costs (for all practical purposes) zero if you run it off a site like Amazon cloud

2.   No, as I said, you're smart. So is everyone gaining free money off this (negligible amounts, but still).
I'm just educating the people who end up paying for it. Most wont be reading this topic anyway so your profits are safe

The Association Fallacy runs deep in this one                                                                                                     

I dearly hope the bitcoin community isnt this dumb, or else it will surely fail soon

[Jack of Diamonds]

Just wrote that in the post you quoted. Maybe you should read.

It's definitely no ponzi scheme because nobody is 'out' of anything

Nobody said it's a ponzi. It's not.
As CNMOH pointed out it does have characteristics typical to a pyramid scheme though.

tiered referral systems

Triplemining is not tiered. Only the direct referrer gets anything.
Tier 2 and below refs don't earn you any income despite being in your downline. Are you sure you even understand how your own pool works?

buying overpriced computer hardware to create $100 in passive income in an asset that is topping out

I get about $140 per day mining currently at 15ghash, give or take because the price keeps swinging.
If you take a look at most small pool stats you'll notice my username in many of them. Giving everything a fair chance.

Nothing against this pool or it's owner. The discussion is about the idea behind triplemining being a pyramid (yes) or a ponzi (not).

Triplemining.com || Ponzi scheme ? Pyramid ?

Even if it's a pyramid at some level it doesn't mean the owner is doing anything wrong.
It's one business model among others. Nobody is forcing anyone to join. Some people like pyramids and some don't.

I dearly hope the bitcoin community isnt this dumb, or else it will surely fail soon

I hope everyone doesn't start stealing bandwidth and images from other people's photobucket accounts, or there wont be any free image sharing to begin with.
Though I'm sure a born parasite such as yourself doesn't find anything wrong in "piggybacking a little traffic from a fellow miner".

[Auspician]

Will, update your damn sig.  Please.

[MrSam]

Here we go again :

Block Quest Spirit Lifter: So we're looking forward to that third block. To lift everyone's spirit a little, we have decided to DOUBLE ALL MINIPOOL REWARDS when the block is found.

For those of you who are mining solo, we have a special treat too! When the next block is found we will give away 1 BTC, distributed to solo miners based on share count.

[sealkid]

Whatever the motives are for the nay-sayers, be they genuinely concerned, or having some other reason, the proof of the pudding is in the eating. For me, much less stale shares, an admin who takes it upon himself to implement feedback suggestions and offer different angles (jackpots, pool challenges, rewards, etc) can all be judged by the miner for themselves. Reading about all of the supposed pros and cons of triplemining gave me a headache - and I would consider myself fairly savvy. For the newcomers, simply try it out for yourself and compare it to the other pools in terms of BTC earned, stale shares, community feel, and intuition.

[CNMOH]

Whatever the motives are for the nay-sayers, be they genuinely concerned, or having some other reason, the proof of the pudding is in the eating. For me, much less stale shares, an admin who takes it upon himself to implement feedback suggestions and offer different angles (jackpots, pool challenges, rewards, etc) can all be judged by the miner for themselves. Reading about all of the supposed pros and cons of triplemining gave me a headache - and I would consider myself fairly savvy. For the newcomers, simply try it out for yourself and compare it to the other pools in terms of BTC earned, stale shares, community feel, and intuition.

I couldn't agree more.

[EskimoBob]

Here we go again :

Block Quest Spirit Lifter: So we're looking forward to that third block. To lift everyone's spirit a little, we have decided to DOUBLE ALL MINIPOOL REWARDS when the block is found.

For those of you who are mining solo, we have a special treat too! When the next block is found we will give away 1 BTC, distributed to solo miners based on share count.

This is good news!

Now we need some serious miners to cross the 60Gh/s and go after the 80Gh/s. No need for **** diggers!
Join us and lets dig some coin.

Cheers!

[OCedHrt]

The positive spin is: as long as you refer someone with more ghashes than you, you have nothing to lose and all to gain! (compared to 0% fee pools)

[wolf902]

Hey guys wolf902 here.
Recently after mining at deep bit quite a lot i had stumbled upon triple mining.I had to Ask my self this, you should ask your self this as-well.
Do you want a more efficient pool and to mean something in the bitcoin industry?

Well then if you answered yes, Join up! Tons of benefits,jackpots,and every block found is distributed to all users. In addition, an extra bonus can be returned to you through our weekly jackpot where all accounts are treated equally and have the same chance of winning the jackpot.

We recently found our second block which is distributed evenly to all workers mind you. There is word that our third block is on it's way.

The link is here https://wolf902.triplemining.com/register

Sign up and your good to go. (Don't forget to make a worker! This is in your account. The username and pw you use here is what you use when mining.)
here is GUI miner
https://github.com/downloads/Kiv/poclbm/guiminer-20110701.exe
select server as "Triplemining"
Enter username and pw matching your worker.
Start mining!

Any questions please PM me or post here! I will answer them to the best of my ability!

[wolf902]

YOU HAVE TO BE AN ACTIVE MINER TO BE ENTERED INTO THE JACKPOT!

[jme621]

im confused, title says 60gh but the site says #49   Team Wolf902   Dirt cleaner   100 MH

[CNMOH]

He means the pool itself is 60 GH/s.

[wolf902]

He means the pool itself is 60 GH/s.

Correct. The pool as a whole is what matters to finding the next block.

[wolf902]