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October 04, 2011, 06:25:48 AM |
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Well just wondering if people would like to pool or mass donate or create a better pool/ thingy idea that I'm trying to create/develop. I know as a lowly miner it's gonna take me forever to mine 30 BTC. And taking risk asking for loans and stuff is really out of question. I propose a pooling ring or potluck for people who would pool their bitcoins in for a bigger payout in the future. Sort of like some chain gangs do IRL.
Basically it's 2 or more individuals that pool their btcs and repay to each other alternative on a set date. + or - 1/2 day etc.. for errors, forgets etc...
example:
2 man pool/ring 2 BTC intial join fee into a private bitcoin address. Each person donates .25 btc every 2 days. At end of 6 days it pays out to man 1... at 12 it pays to man 2.
10 man pool 5 bitcoin intial fee. each person donotes .5 bitcoins every 2 days. Every 5 days 1 person gets all the money in the pool, then it circulates from man 2, 3, 4 etc... your fee is eaten if you fail to pay after 1 day after 2 payouts (10 days).
I'm sure people can work out the rules and with the new shared addresses that are being porposed by the bitcoin community I think it would greatly help lowly miners save and also spend more bitcoins in the community. Instead of risking loans and other scams.
Of course this can be coded on a 3rd party website for x% of transaction for profit/fee etc...
Initial fee, payment amount per day/week, payout amount and late penalities can be changed/edited depending on the people and groups who would like to do this.
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