SolidCoin Mafia Bitcoin Merged Mining Pool - Pays out in SolidCoins

[CoinHunter]

http://solidcoinmafia.com/



SolidCoin Mafia

What is SolidCoin Mafia?
SolidCoin Mafia is a Bitcoin merged mining pool that pays out in SolidCoins. When a Bitcoin/NMC/I0C/IXC/DEVC block is won those coins are taken to various exchanges and used to buy SolidCoins using a variety of algorithms.

What is the aim of the pool?
To provide more liquidity for SolidCoin trading and always ensuring there is at least one large buyer available.

Why should I mine here? Can't I just mine SolidCoins if I want them?
Yes you could mine SolidCoins, though often buying them with Bitcoins allows you to get more SolidCoins. Also by mining at SolidCoin Mafia you are economically supporting SolidCoin and helping to provide some stability to the value.

How are payouts handled?
We calculate a pay per share that is roughly 50% of the current market price. So you get your SolidCoins upfront prior to any block being found, though roughly only 50% what you could if you had that in BTC. When the automatic trading takes place users are then proportionally paid out any bonuses. Sometimes no bonuses may occur due to SolidCoin price increasing a lot between the the sale of the Bitcoins and the giving of SolidCoins for each share.

You can withdraw as soon as you have submitted enough shares to get 5 SolidCoins



Big Thanks to Karmaon and Ahimoth for working a lot on this concept. They Run the pool so if you have any questions PM them on the SolidCoinTalk forum or on IRC, freenode #solidcoin

http://solidcointalk.org/topic/534-solidcoin-mafia-bitcoin-merged-mining-pool/

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[CoinHunter]

So far the pool has won 5 blocks (one orphan) and bought 200BTC of SolidCoins from btc-e and slc24.com. It has paid out ~12000 SC in bonuses and about ~15000SC in pay-per-share (PPS). It has been running for 16 days or so.

[thirdlight]

Interestingly, this thread is no longer locked.

[k9quaint]

Interestingly, this thread is no longer locked.

If it remains unlocked, the 5 solidcoin supporters will get shat upon by the other 1,000 forum users.

[CoinHunter]

I can mine Solidcoins at slow expensive rate and get paid at 50% of the value in BTC LOL....

Actually if you check the rewards currently, about 15000 in PPS and 12000 in bonus proportional.  That's nearly 50/50 and especially good considering the continued upward price trend of SolidCoin makes it harder and harder to buy them with the BTC block.

I believe SolidCoin Mafia won another block this morning, so that's 250BTC sold now.

[CoinHunter]

Bonus proportional LOL...........

Yeah, your bonus is proportional to how many suckers you con...

Well it's not my pool, and I don't think conning their miners is a good long term strategy in regards to building a functional pool.

[Ahimoth]

Coinhunter/RealSolid has no involvements with the pool. I run it with one other person. My partner handles the server and web UI. I handle the selling of the btc and the sc payouts to the miners.

We pay our miners two ways simultaneously. The first method is a simple pps style, where the pps rate is 50% of the market rate of what one btc share would buy in SC. The second payout is a "bonus" payout that occurs after a btc block is found. The bonus payout is calculated in sort of a hybrid SMPPS/PPLNS format. Meaning that we sell the found bitcoin block on the exchanges, then the proceeds from that sale are used first to recover the SC we already paid out in PPS. The remaining SC is then distributed to our miners by using their proportion of shares submitted during the 24 hours prior to the block find.

The reason we do it this way is because the BTC-SC market may change significantly between the time we start mining, and the time that the btc block gets sold. So we set the pps rate at 50% of market so we can handle a 2x increase in solidcoin price without the pool going broke. If such an event does occur, there would be no bonus for that round, but the miners would have at least gotten their PPS portion.

The key point is that currently ALL SolidCoins go to the miners, none of them are given to anyone who did not mine their fair share. We currently charge no fees. The only two people who were ever treated differently were the pool owners (me and my partner). In one instance, we declined to receive our mining bonus, so our regular miners could enjoy a decent sized bonus after one of our found blocks were orphaned and put a drain on the pool wallet.

[CoinHunter]

The pool is back and operating after a DDoS attempt. It now has some DDoS protection.

[k9quaint]

Coinhunter/RealSolid has no involvements with the pool. I run it with one other person. My partner handles the server and web UI. I handle the selling of the btc and the sc payouts to the miners.

We pay our miners two ways simultaneously. The first method is a simple pps style, where the pps rate is 50% of the market rate of what one btc share would buy in SC. The second payout is a "bonus" payout that occurs after a btc block is found. The bonus payout is calculated in sort of a hybrid SMPPS/PPLNS format. Meaning that we sell the found bitcoin block on the exchanges, then the proceeds from that sale are used first to recover the SC we already paid out in PPS. The remaining SC is then distributed to our miners by using their proportion of shares submitted during the 24 hours prior to the block find.

The reason we do it this way is because the BTC-SC market may change significantly between the time we start mining, and the time that the btc block gets sold. So we set the pps rate at 50% of market so we can handle a 2x increase in solidcoin price without the pool going broke. If such an event does occur, there would be no bonus for that round, but the miners would have at least gotten their PPS portion.

The key point is that currently ALL SolidCoins go to the miners, none of them are given to anyone who did not mine their fair share. We currently charge no fees. The only two people who were ever treated differently were the pool owners (me and my partner). In one instance, we declined to receive our mining bonus, so our regular miners could enjoy a decent sized bonus after one of our found blocks were orphaned and put a drain on the pool wallet.

To make a long story short:
Coinhunter/RealSolid slashed the reward of mining Solidcoins to prevent others from obtaining a tyrant node and to create deflation so he can dump his pre-mine for some cash. Since mining SC is a losing proposition, the SC sockpuppets have to mine BTC. Great currency you have there. Not to mention the fact that you nitwits rail on and on about how evil pools are, then make one yourself.

P.S. any luck getting RealSolid to give up any of the tyrant node private keys?

[Nachtwind]

By the way... why does this thread belong here? If at all it should go to the pool subforum... or Off Topic since it has nothing to do with BTC

[CoinHunter]

One of the insiders that lets me know whats going on says that CH/RS did in fact give out the private keys to four of the ten but reneged on the other "six" as only four have been deployed of which two are active at any one time. His reasoning was, at the current time there is no "responsible NPO in place with the required expertise" to properly safeguard them and relinquishing full control prior to that time is too big a temptation for any one person to handle, other than him of course.

He also feels that until an NPO is in place, that he approves of personally, that he should keep control of six in case he would have to "take control" again to thwart any rogue activity.

In other words, nothing has changed, it's still "SC" = Slave Coin

Even if that is true what is the problem with that? Satoshi developed a client in 2009 that everyone is "a slave to" at the moment. He is the developer and if anyone should be able to detect rogue activity and stop it , it is him. The funny thing is you and others are afraid of SolidCoin taking over Bitcoin, it's the only reason any of you would spread FUD about it because if it was no threat no one here would talk about it.

[Starlightbreaker]

it is not a FUD if it's the fact.

[RoloTonyBrownTown]

One of the insiders that lets me know whats going on says that CH/RS did in fact give out the private keys to four of the ten but reneged on the other "six" as only four have been deployed of which two are active at any one time. His reasoning was, at the current time there is no "responsible NPO in place with the required expertise" to properly safeguard them and relinquishing full control prior to that time is too big a temptation for any one person to handle, other than him of course.

He also feels that until an NPO is in place, that he approves of personally, that he should keep control of six in case he would have to "take control" again to thwart any rogue activity.

In other words, nothing has changed, it's still "SC" = Slave Coin

Even if that is true what is the problem with that? Satoshi developed a client in 2009 that everyone is "a slave to" at the moment. He is the developer and if anyone should be able to detect rogue activity and stop it , it is him. The funny thing is you and others are afraid of SolidCoin taking over Bitcoin, it's the only reason any of you would spread FUD about it because if it was no threat no one here would talk about it.

Yeah cause that's really similar to what your doing.  If I could post the worlds biggest rolleyes smiley here I would.

As for the utterly dilusional second part of your post, if you really believe that then you're more far gone than I thought.   The main reasons people on here attack Solidcoin are twofold:

1.  Because you're a gigantic douche

2.  Because the whole concept of solidcoin is flawed and against everything bitcoin stands for.

The fact that you have to keep changing the rules to keep the stupid thing alive illustrates that quite nicely.

You have your own forum.  If you were so confident that your coin will smash bitcoin in the future then you'd just let it stand on its own merits instead of continually spamming this place with your nonsense.   Clearly you're not confident at all.

[CoinHunter]

it is not a FUD if it's the fact.

Well the more you talk about SolidCoin the more of a threat you think it is. You do understand this right? The more you try to "counter" the movement or "educate" people about how "evil" and "scammy" SolidCoin is the more afraid you come across.

The fact that after 7 months we still have people trying to claim SolidCoin is a pump and dump or "Get rich quick" scheme shows how afraid some people are. Get on the bike before it's too late, SolidCoin is going to to surpass Bitcoin because it's way less of a "scam" to normal people... just take a look at the pyramid reward system in Bitcoin and the fact each Bitcoin is backed by nothing at all. SolidCoin on the other hand is backed by "energy" and a coin made today will roughly be what it costs to make in a year. That is called stable production costs and is what will attract new users and businesses to it.

[RoloTonyBrownTown]

it is not a FUD if it's the fact.

Well the more you talk about SolidCoin the more of a threat you think it is. You do understand this right? The more you try to "counter" the movement or "educate" people about how "evil" and "scammy" SolidCoin is the more afraid you come across.

The fact that after 7 months we still have people trying to claim SolidCoin is a pump and dump or "Get rich quick" scheme shows how afraid some people are. Get on the bike before it's too late, SolidCoin is going to to surpass Bitcoin because it's way less of a "scam" to normal people... just take a look at the pyramid reward system in Bitcoin and the fact each Bitcoin is backed by nothing at all. SolidCoin on the other hand is backed by "energy" and a coin made today will roughly be what it costs to make in a year. That is called stable production costs and is what will attract new users and businesses to it.

Utter tripe.   See my post above.

[Starlightbreaker]

it is not a FUD if it's the fact.

Well the more you talk about SolidCoin the more of a threat joke you think it is. You do understand this right? The more you try to "counter" the movement or "educate" people about how "evil" and "scammy" SolidCoin is the more afraid you come across.

The fact that after 7 months we still have people trying to claim SolidCoin is a pump and dump or "Get rich quick" scheme shows how afraid some people are. Get on the bike before it's too late, SolidCoin is going to to surpass Bitcoin because it's way less of a "scam" to normal people... just take a look at the pyramid reward system in Bitcoin and the fact each Bitcoin is backed by nothing at all. SolidCoin on the other hand is backed by "energy" and a coin made today will roughly be what it costs to make in a year. That is called stable production costs and is what will attract new users and businesses to it.

fixed that for you.

afraid?

afraid of what? bitcoin collapse? ask me how much fuck do i give.
your profit calculator also told us it will not until $24/sc to reach break even.

business? what business you're talking about? oh yeah, you barely have any business with solidcoin.

[CoinHunter]

Yeah cause that's really similar to what your doing.  If I could post the worlds biggest rolleyes smiley here I would.

As for the utterly dilusional second part of your post, if you really believe that then you're more far gone than I thought.   The main reasons people on here attack Solidcoin are twofold:

1.  Because you're a gigantic douche

2.  People the whole concept of solidcoin is flawed and against everything bitcoin stands for.

The fact that you have yo keep changes the rules to jeep the stupid thing alive illustrates that quite nicely.

So those 2 points make people here continually talk about it? Sounds like a smart move on my part.

You have your own forum.  If you were so confident that your coin will smash bitcoin in the future then you'd just let it stand on its own merits instead of continually spamming this place with your nonsense.   Clearly you're not confident at all.

Considering many (not all) Bitcoin users will like what SolidCoin is doing then it's important to make sure it's in their view over here too. Has not much to do with confidence, is every litecoin/namecoin thread here a sign of lack of confidence too? SolidCoin is the #2 cryptocurrency and I'm just posting news and helping educate people about how SolidCoin really works. Seems to annoy the people that want it to "Go away" because it's a threat to their precious Bitcoin.

[RoloTonyBrownTown]

Yeah cause that's really similar to what your doing.  If I could post the worlds biggest rolleyes smiley here I would.

As for the utterly dilusional second part of your post, if you really believe that then you're more far gone than I thought.   The main reasons people on here attack Solidcoin are twofold:

1.  Because you're a gigantic douche

2.  People the whole concept of solidcoin is flawed and against everything bitcoin stands for.

The fact that you have yo keep changes the rules to jeep the stupid thing alive illustrates that quite nicely.

So those 2 points make people here continually talk about it? Sounds like a smart move on my part.

You have your own forum.  If you were so confident that your coin will smash bitcoin in the future then you'd just let it stand on its own merits instead of continually spamming this place with your nonsense.   Clearly you're not confident at all.

 Seems to annoy the people that want it to "Go away" because

See point 1.    

Lite coin etc aren't picked on because they hold true to what this place is about.   Your sham doesnt, not in the slightest.

If it were up to me you'd be banned in an instant, then we'd see how well you'd do with just your own forum to "educate".

I agree I'd love nothing more than for people on here to stop taking the piss out of Solidcoin as it'd die all that much quicker, but its just too easy a target I guess.

Now run along.   You no doubt have to make some fundamental changes to how your coin works to keep it alive and flailing.

[CoinHunter]

See point 1.    

Lite coin etc aren't picked on because they hold true to what this place is about.   Your sham doesnt, not in the slightest.

If it were up to me you'd be banned in an instant, then we'd see how well you'd do with just your own forum to "educate".

I agree I'd love nothing more than for people on here to stop taking the piss out of Solidcoin as it'd die all that much quicker, but its just too easy a target I guess.

Now run along.   You no doubt have to make some fundamental changes to how your coin works to keep it alive and flailing.

Firstly, don't pretend to speak for every Bitcoin user, you sound arrogant.

Secondly if you think many people here don't want a currency that is a lot safer from government/bank attacks you don't understand what SolidCoin is. You believe the hype of the other trolls here at your own peril.

Do yourself a favor and read this, and see what you really disagree with. http://solidcoin.info/myths.html

[RoloTonyBrownTown]

See point 1.   

Lite coin etc aren't picked on because they hold true to what this place is about.   Your sham doesnt, not in the slightest.

If it were up to me you'd be banned in an instant, then we'd see how well you'd do with just your own forum to "educate".

I agree I'd love nothing more than for people on here to stop taking the piss out of Solidcoin as it'd die all that much quicker, but its just too easy a target I guess.

Now run along.   You no doubt have to make some fundamental changes to how your coin works to keep it alive and flailing.

Firstly, don't pretend to speak for every Bitcoin user, you sound arrogant.

Secondly if you think many people here don't want a currency that is a lot safer from government/bank attacks you don't understand what SolidCoin is. You believe the hype of the other trolls here at your own peril.

Do yourself a favor and read this, and see what you really disagree with. http://solidcoin.info/myths.html

At my peril?   Now who's arrogant.   I think I'll be fine, thanks.

Your coin aside (which is flawed and doomed, whether you choose to ignore the facts or not), you've completely ruined any chance of wide adoption purely by being a gigantic dick this past year or so.   The name is tarnished, your name is tarnished, and only the foolish would get involved with you (and that's WITHOUT understanding the fundamental flaws of your design).

Act superior all you like, I know for a fact your coin will fail and "we" will have the last laugh.   Nothing you say will convince me otherwise.

Essentially, you've dug your own grave.