[NEW] Directpool.net -BTC- Fee 1% [Pay TX, PPLNS, NMC, Vardiff] Giving back

[Ripdon007]

Hmmmmm.....I'm not sure that giving BTCGuild such bad press is wise - they have already proven themselves to be honest & trustworthy with regards to your proposed 51% attack, indeed, they are probably the most reputable pool out there with outstanding customer support to boot (unlike other pools I wont mention **coughcexcough**).

Anyways, as much as I like the idea of "giving back", I'll keep my hashing power with my preferred multi-merged coin mining pool. I would urge you to reconsider other merge mine-able coins though. Good luck 

"**coughcexcough**" lool

I like Btcguild and don't think that the above poster is giving them bad press. That reddit post is an old post that basically points out the issues of any 1 mining pool growing too big and becoming unhealthy for the bitcoin network. Bad press is what the mass media gives the bitcoin network everytime a bitcoin mining pool got close to 51% power.. it's ridiculous.. i've lately given up on alternative coins lol got killed trading/mining those too many times  

[x3maniac]

//Update

Dev team cleaned up junk coding to make the website load a lot faster.

Thank you to everyone that's supporting directpool. Please post here if anybody has any suggestions for us to consider.

Congratulations on getting up & running!

Any plans to introduce more merge mined coins? This will help bring in the crowds 

Thx IYFTech. Currently the pool will stay NMC merge only (we might change that in the near future)

x3

[Ripdon007]

//Update

Dev team cleaned up junk coding to make the website load a lot faster.

Thank you to everyone that's supporting directpool. Please post here if anybody has any suggestions for us to consider.

Congratulations on getting up & running!

Any plans to introduce more merge mined coins? This will help bring in the crowds 

Thx IYFTech. Currently the pool will stay NMC merge only (we might change that in the near future)

x3

Your site is loading faster, thanks! are you guys working on any more pools to add to directpool??

[x3maniac]

Your site is loading faster, thanks! are you guys working on any more pools to add to directpool??

np, yes we're working on a litecoin pool. It will also be running on a modified eloipool backend software.

More info will be posted soon

x3

[Ripdon007]

Your site is loading faster, thanks! are you guys working on any more pools to add to directpool??

np, yes we're working on a litecoin pool. It will also be running on a modified eloipool backend software.

More info will be posted soon

x3

Nice!!

[Delarock]

I came across an article on CoinDesk about this with the title "DirectPool Aims To Prevent 51% Attack with Community-First Mining Pool Approach."

I read the article, and something is missing.

I come here, do a little research, and there is still something missing.

I need someone to explain exactly how DirectPool aims to prevent a 51% attack on the network. More specifically, what is different about DirectPool that would mitigate the risk of a 51% attack on the network?

Additionally, I am having a lot of trouble comprehending the "Community-First" aspect.

As it stands, all I see is another pool to point your miners at. I fail to see any sort of value add. Quite honestly, I fail to see any way DirectPool aims to prevent a 51% attack and I fail to see any way they are putting community first through their pool.

[x3maniac]

I need someone to explain exactly how DirectPool aims to prevent a 51% attack on the network. More specifically, what is different about DirectPool that would mitigate the risk of a 51% attack on the network?

Additionally, I am having a lot of trouble comprehending the "Community-First" aspect.

DirectPool wants to further prevent any possible future 51% atks by giving miners a choice to join DirectPool which we believe is a stable and secure mining pool. It's administered by active admin as well. By redistributing higher pool hashrates over to DirectPool, you'd be preventing the bigger pools from getting too big.

Main purpose of DirectPool that I think the article at CoinDesk could have covered a lot better about "Cummunity-First" is that DirectPool wants to help the Bitcoin Community and that's where BBA comes in to the picture.

BBA has some very well known names that will be supporting this project. ALL donations goto funding charities and worthy digital currency related projects. Miners will vote and choose which projects should get the fundings. (More on this coming soon)

x3

[x3maniac]

I came across an article on CoinDesk about this with the title "DirectPool Aims To Prevent 51% Attack with Community-First Mining Pool Approach."

I read the article, and something is missing.

I come here, do a little research, and there is still something missing.

I need someone to explain exactly how DirectPool aims to prevent a 51% attack on the network. More specifically, what is different about DirectPool that would mitigate the risk of a 51% attack on the network?

Additionally, I am having a lot of trouble comprehending the "Community-First" aspect.

As it stands, all I see is another pool to point your miners at. I fail to see any sort of value add. Quite honestly, I fail to see any way DirectPool aims to prevent a 51% attack and I fail to see any way they are putting community first through their pool.

Hey, these are some good questions that needs to be answered.

Okay, I'll layout some of the key benefits I see from directpool

1) Donations from hash power is going directly to BBA  ( Bitcoin Business Alliance )

What is BBA?  Homepage: http://www.BitcoinBusinessAlliance
A two year old foundational group that has grown Bitcoin to where its out today, lots of known faces in the community. )

2) The miners will vote and decide where those funds go to (the voting poll I heard is being worked on)
I.E: Seans OutPost, Red Cross, Breast Cancer Awareness, and/or funding bitcoin (and digital currency) related projects.

3) There was close calls many times from two of the major pools that had 51% attacks, and directpool is the solution to future bitcoin network problems.

The major reference point was when two of the major pools almost tipped the network over on [reddit /r/bitcoin about 1 year ago]
http://www.reddit.com/r/Bitcoin/comments/1bq4ia/for_the_love_of_bitcoin_stop_mining_at_btc_guild

4) Direct pool is taking lower fees than your avg pool in the industry:
1% is going to directpool, and your worker's donation % going to funding digital currency projects & good causes.

So fundamentally, you can now easily make a choice. They are offering some specific 'focused' benefits.

Thanks for your support for dp. Please keep in mind that I am in no way against btcguild. In fact, I like how Eleuthria runs his pool and he's a well known member of the bitcoin community and has been for a long time. Just as him, I appreciate LukeJr, whizkid and many others for their commitment to the bitcoin community as well.

DirectPool is taking a new stance at the way bitcoin pool should run in our opinion and that is that we need to be giving back to the community that made us. Why i joined dp was only because of the giving back initiation. That is something I'm proud of for being a part of and hope other pools will be encouraged to do something similar.

x3

[eleuthria]

DirectPool wants to further prevent any possible future 51% atks by giving miners a choice to join DirectPool which we believe is a stable and secure mining pool. It's administered by active admin as well. By redistributing higher pool hashrates over to DirectPool, you'd be preventing the bigger pools from getting too big.

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.


EDIT:  Exception here possibly being ghash.io.  Though they are majority private speed from their cloud mining service, so I have a hard time calling them a public pool.

[PatMan]

DirectPool wants to further prevent any possible future 51% atks by giving miners a choice to join DirectPool which we believe is a stable and secure mining pool. It's administered by active admin as well. By redistributing higher pool hashrates over to DirectPool, you'd be preventing the bigger pools from getting too big.

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.

+1  Well said.

Enough of this nonsense.

[AJMiles]

DirectPool wants to further prevent any possible future 51% atks by giving miners a choice to join DirectPool which we believe is a stable and secure mining pool. It's administered by active admin as well. By redistributing higher pool hashrates over to DirectPool, you'd be preventing the bigger pools from getting too big.

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.


EDIT:  Exception here possibly being ghash.io.  Though they are majority private speed from their cloud mining service, so I have a hard time calling them a public pool.

Hey, thanks for sharing the input. I don't think there is an argument happening here... Every public pool is on the same page, bitcoin doesn't need centralization. So if we can agree on that, there is no argument here, it is just another reason to ensure there is protection over the network. You and I cannot predict it will "NEVER" happen, the saying goes like this, "never say never"... nothing is impossible, but it sure is preventable.

[x3maniac]

DirectPool wants to further prevent any possible future 51% atks by giving miners a choice to join DirectPool which we believe is a stable and secure mining pool. It's administered by active admin as well. By redistributing higher pool hashrates over to DirectPool, you'd be preventing the bigger pools from getting too big.

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.


EDIT:  Exception here possibly being ghash.io.  Though they are majority private speed from their cloud mining service, so I have a hard time calling them a public pool.

"We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already."

IF what you said comes true then you are most likely correct that 51% will more than likely never be achieved by a public pool. We will just have to wait and see how the upcoming ASIC hardware shifts the balance between public and private miners. However, DirectPool is here to provide a reliable Bitcoin pool where miners can trust to have their miners run on.

Main reason, I'll say it again, behind the initiation of DirectPool is to fund worthy bitcoin related projects with any donations collected at DirectPool. We're collaborating with BBA to keep every donation made transparent. Essentially, it'll be the miners who decide where the donations end up at. A lot more on this will be posted up at directpool.net soon.

x3

[Delarock]

This is a fundamentally flawed argument.  You will never, nor will any pool, ever prevent a 51% attack again.  We're very close to private entities [ASIC manufacturer farms, giant ASIC warehouses, and "cloud" mining services] controlling > 51% of the hash rate already.  It is NOT possible for a public pool to hit 51% ever again unless every other pool vanished off the internet simultaneously.

I think it's a philosophically flawed argument as well. I find it self defeating that the solution to "too many miners in one place" is giving all those too many miners another attractive place to go.

Let's consider eleuthria's point for a moment. What if every other pool besides DirectPool happened to shut down at the same time? Is there a novel value add that DirectPool hasn't mentioned that would "prevent" this 51% type attack from happening?

My second point aims directly at "community-first." If your pool was truly community first, why not donate 100% of fees to charity? I'll assume that you choose to use the "nobody can work for free" counterpoint. Why not just make a charity donation website? It would at least save you all the work of running the pool, and you get to serve the community at the same time. I can think of other ways that you can serve the community directly that do not involve the costly work of running a pool.

Bottom line: I think that finding a way to automatically donate to charities is great but this does not change the fact that every news article I've read is a complete sharp angle that leads to just another pool. If you're going to attempt to convince me to mine somewhere, it's going to take more than a display of noble intentions and an empty promise of network security.

[x3maniac]

Let's consider eleuthria's point for a moment. What if every other pool besides DirectPool happened to shut down at the same time? Is there a novel value add that DirectPool hasn't mentioned that would "prevent" this 51% type attack from happening?

That's a bad unrealistic scenario. In a more realistic scenario however, it is important for various different pools to co-exist. But to keep the bitcoin network "healthy" it's also important for the hashrate distribution to be more spread out.

My second point aims directly at "community-first." If your pool was truly community first, why not donate 100% of fees to charity? I'll assume that you choose to use the "nobody can work for free" counterpoint. Why not just make a charity donation website? It would at least save you all the work of running the pool, and you get to serve the community at the same time. I can think of other ways that you can serve the community directly that do not involve the costly work of running a pool.

Bottom line: I think that finding a way to automatically donate to charities is great but this does not change the fact that every news article I've read is a complete sharp angle that leads to just another pool. If you're going to attempt to convince me to mine somewhere, it's going to take more than a display of noble intentions and an empty promise of network security.

You're missing the point. DirectPool isn't begging for donations. DirectPool is an initiative, in collaboration with the BBA, to use any funded donations (donated by miners at their own will) at DirectPool to be used to fund worthy digital currency projects (again, more on that will be posted up soon).

We believe that if the mining community is going to be donating to a pool then it should count for something more.

@Delarock, I would urge you to however begin your own charity website and if you'd like to collaborate with us for some possible help, just msg away!

x3

[Delarock]

Let's consider eleuthria's point for a moment. What if every other pool besides DirectPool happened to shut down at the same time? Is there a novel value add that DirectPool hasn't mentioned that would "prevent" this 51% type attack from happening?

That's a bad unrealistic scenario. In a more realistic scenario however, it is important for various different pools to co-exist. But to keep the bitcoin network "healthy" it's also important for the hashrate distribution to be more spread out.

My second point aims directly at "community-first." If your pool was truly community first, why not donate 100% of fees to charity? I'll assume that you choose to use the "nobody can work for free" counterpoint. Why not just make a charity donation website? It would at least save you all the work of running the pool, and you get to serve the community at the same time. I can think of other ways that you can serve the community directly that do not involve the costly work of running a pool.

Bottom line: I think that finding a way to automatically donate to charities is great but this does not change the fact that every news article I've read is a complete sharp angle that leads to just another pool. If you're going to attempt to convince me to mine somewhere, it's going to take more than a display of noble intentions and an empty promise of network security.

You're missing the point. DirectPool isn't begging for donations. DirectPool is an initiative, in collaboration with the BBA, to use any funded donations (donated by miners at their own will) at DirectPool to be used to fund worthy digital currency projects (again, more on that will be posted up soon).

We believe that if the mining community is going to be donating to a pool then it should count for something more.

@Delarock, I would urge you to however begin your own charity website and if you'd like to collaborate with us for some possible help, just msg away!

x3

You're missing my point. In a more realistic scenario, the possibility of a public pool exceeding 51% doesn't exist, yet multiple articles tout this as a "next-generation" mining pool that aims to mitigate that risk while giving back to the community. My point is very simple. I need to know exactly how the claims made about your pool are qualified. I am asking for you to explicitly state how you are a next generation mining pool and how your pool is different from any other pools specifically in the way that DirectPool can prevent a 51% attack and what you offer that is more substantial than "We are giving miners another place to mine."

If we're going to "urge" each other to do things, I urge you to explain why retaining a 1% fee serves the community better than it serves yourself. I also urge you to point out where I stated or implied that DirectPool is "begging for donations."

While you're at it, can you explain why you aren't a non-profit or a not-for-profit organization as opposed to a for-profit?

[DPoS]

sadly the pool looks like it just died

any news?


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front end under maint...   pool still running

[Ripdon007]

sadly the pool looks like it just died

any news?


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front end under maint...   pool still running

yea my miner is mining on the pool just fine on my side. Their site is under maint.

Msg reads "DirectPool website is under maintenance. You can still mine however the stats will not update. Be assured that all your shares submitted are being accepted. All services will be restored shortly, thank you!"

cool. Goodnight all

[AJMiles]

sadly the pool looks like it just died

any news?


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front end under maint...   pool still running

front end being updated

Miners are still up and hashing thanks for the heads up.

FAQ being worked on: https://bitcointalk.org/index.php?topic=525608

[x3maniac]

sadly the pool looks like it just died

any news?


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front end under maint...   pool still running

Maint. almost done! Thanks for your patience. Services will restored shortly and an update will be provided.

Pool is still running.

EDIT:

Stats have been restored. Maint. will be done shortly.

Edit 2:

Maint. completed. All stats are restored. Pool is running perfectly. Updates listed under News section of DirectPool.net

x3

[x3maniac]

the possibility of a public pool exceeding 51% doesn't exist

This is not a factual statement.

how you are a next generation mining pool

I think the term "next generation" is confusing to you. DirectPool is next generation in the sense that it's doing what no other pool has done before. It's collaborating with a well known entity, the BBA, to do something great for the community and more.

how your pool is different from any other pools specifically in the way that DirectPool can prevent a 51% attack

DirectPool has never made the claim that it will prevent a 51% attack. What we have said is that we want to further redistribute the overall hashing power to make the network a lot more healthier than it is currently.

why retaining a 1% fee serves the community better than it serves yourself

From what I know, the 1% fee will also be used for the betterment of bitcoin. I don't have all the details and that's private info. You might as well ask why BTCguild doesn't charge 1% or 0% instead of 3%... You're asking for info that you're not entitled to.

While you're at it, can you explain why you aren't a non-profit or a not-for-profit organization as opposed to a for-profit?

When we decide to open up a charity foundation, we'll be sure to take your advice to open up a befitting organization.

Thank you for your suggestions. If you'd like further information into matters concerning DirectPool, you make contact the staff via Help widget at directpool.net where you'll receive responses a lot faster. But you are more than welcome to continue posting here and you'll be replied to.

x3