LaunchPool - First pool to automatically switch mining to newly launched coins!

[michielnl]

..... Are you also getting tired of selecting and mining each brandnew coin?

LaunchPool - First pool to automatically switch mining to newly launched coins! (from day 0, so not yet exchanged, etc)

OK, THIS DOES NOT EXIST YET - Who will create this?

Here are some thoughts:

1.0
- it should be a copy of multipool.us / hashco.ws, thus automatically switching
- it should only mine brand new coins (coins which are not exchanged yet)
- fee can be 2 or 3%, because pool owner has / owners have to support each coin launch
- if pool has 51%+ hash power, after some hours/days, pool should balance hashpower to other coins to not damage value of new coin
- users (miners) are able to discuss which new coins are supported using a forum, pool owner will follow outcome of these discussions

1.1
- if a coin has premine / bounties (coin devs can consider to provide extra bonus/reward for support of this pool), coin dev can pay launchpool owner. launchpool owner will share this reward with miners after first X hours based on mined coins.

1.2
- users (miners) are able to up/down vote the share that a (new) coin will get from all hashing power. vote power is based on hash delivered last X days

I have some nice domain names for this concept, willing to donate

If you think this is a good idea, please reply/comment, so this message will be read.

[princecash]

You conceived the idea then see it as your own project and complete it, no better person to do it but you.

[michielnl]

You conceived the idea then see it as your own project and complete it, no better person to do it but you.

I would like and I can do some PHP, but unfortunately I am not able to create a multipool copy

[Damnsammit]

So, basically it would be like using Middlecoin except instead of mining the most profitable you only mine the newest coins?

How would people receive their coins?  Would the pool hold the balances until the users create a new wallet for the new coin that they have been mining?

This would require a very organized pool operator with a lot of time on their hands.  They would have to be up-to-speed on all announcements of new coins and get a jump start on setting up their own mining pool for each new coin. 

I could see a lot of people using a small percentage of their hash power for something like this as long as the coins were not automatically sold and converted to BTC.  It would be a convenient way to collect new coins to hoarde until the pump and dump is ready.

[michielnl]

Yes, to mine the newest coins.

Yes, miners should create a wallet to receive the generated coins.

For the coin launches, maybe a partnership can be created with: http://coincalendar.eu/

"It would be a convenient way to collect new coins to hoarde until the pump and dump is ready. " - Exactly !

[slavo]

It's a good idea.

I had the same, but no skills to do it.

My idea was more like a middlecoin clone with small shots into new coins, with the miners vote (exemple if I have 20Mh, my vote will be 20X more important than someone voting with 1Mh).

Exemple 2 :

Pool is mining profitability.

A new coin is announced.

Poll on main page, requirement : filling YES/NO for mining this coin + btc adress to show how much Mh u had in the past.

if 51% people voting wants to mine it, the pool gives a shot for a determined period of time (say 72 hours from launch)

Coins are stored into - unknown unexchanged balance - and dumped by the pool operator when he can do it for a fair price.

Any thoughts ?

[Damnsammit]

Yes, to mine the newest coins.

Yes, miners should create a wallet to receive the generated coins.

For the coin launches, maybe a partnership can be created with: http://coincalendar.eu/

"It would be a convenient way to collect new coins to hoarde until the pump and dump is ready. " - Exactly !

Wow... just looking at that calendar is depressing.  So many shit coins lol

[michielnl]

Wow... just looking at that calendar is depressing.  So many shit coins lol

Exactly, the moment I saw that, I thought: should we all do this manually ... ?

[Gismo1337]

awesome idea. +1337 for GPU only!
maybe with a partnership of an exchange.

[Damnsammit]

awesome idea. +1337 for GPU only!
maybe with a partnership of an exchange.

I think the idea is to mine the coins before they even make it to the exchanges... so you can have plenty to dump whenever (if ever) they get listed.

[Gismo1337]

awesome idea. +1337 for GPU only!
maybe with a partnership of an exchange.

I think the idea is to mine the coins before they even make it to the exchanges... so you can have plenty to dump whenever (if ever) they get listed.

aehm, i have to write more next time.

my idea was a (own) exchange with promise they add the mined coins after 14 day (example).
every user get a wallet of each coin in his profile and the transaction to this exchange is free. or the exchange is on this site too.

sry about my english.

[Damnsammit]

my idea was a (own) exchange with promise they add the mined coins after 14 day (example).
every user get a wallet of each coin in his profile and the transaction to this exchange is free. or the exchange is on this site too.

sry about my english.

Just have the pool hold the coins until it is listed on an exchange and then you can give the address for a Crypsty wallet (for example) to cash out to so that you don't have to deal with downloading thousands of shitcoin wallets.

[michielnl]

my idea was a (own) exchange with promise they add the mined coins after 14 day (example).
every user get a wallet of each coin in his profile and the transaction to this exchange is free. or the exchange is on this site too.

Yes, the combined power of the pool can provide benefits on a lot of areas, get some premine bonus, wallets, no fees, probably we can think of more

[michielnl]

I did write to owners of some existing pools, but no interest yet...
This could be so cool!

[21coin]

scrypt or sha256?
or both

also how to request to add new coin to this pool

[michielnl]

scrypt or sha256?
or both
also how to request to add new coin to this pool

for me: scrypt :-) (but there might be some sha256 fans out there)
new coin -> see first posts above

[ahmed_bodi]

already been thought of and very likely will be implemented soon watch this scene