DEEPBIT Miner Earnings Insurance
IPO'd at GLBSE today!
I plan on similar offerings for Ozcoin and Slush's pool soon too.
Do you want insurance available for your pool too? I've had a request for Bitminter, and I hope to offer insurance for any pool over 100 Ghps soon. I want to do this in order of most requests - the more requests for a pool, the sooner I'll offer insurance for it.
Are you happy with the insurance as described in the DeepBit thread?
I also have a much simpler version: I simply pay a certain amount per long round, and nothing for shorter rounds. There would be one coupon payment at the expiry of the bond, rather than 10 over two weeks. I think this would make the market a bit more active too.
An example would be to sell bonds for 0.001btc per round covered, and return 7.389 times that, or 0.007389btc for every round over 2*D long (at the moment, that's every round over 3453133 shares), and nothing for rounds under 2*D. If you've been lucky, you wont need it, if unlucky there'll be a big payout.
This method has the same expected payout as the other method but I think it's a lot simpler to understand, and calculate for yourself.Edit:
As discussed below, this is not useful for miners at pools that only offer Pay-Per-Share payouts.
It is useful for
- miners who receive a non-PPS payout, or
- for pool operators who have to pay their miners PPS.