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Author Topic: [MC]Hashrate.org NXT Mining Pool Promotional Fund: PARTIALLY APPROVED  (Read 10981 times)

joefox

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #20 on: April 14, 2014, 11:47:04 pm »

PF,

The voting thread is OPEN on the Marketing Committee's voting-forum, with a 24 hour deadline.  The poll will close at 12:22AM GMT, April 16.

Because we are fast-tracking the request, I have divided the vote into three parts:
- yes or no: fund 100,000Nxt for PR/publicity
- yes or no: fund 15,000Nxt to keep fees at 0%
- yes or no: fund 300,000Nxt for mining incentives

Committee members can vote on EACH part, and each part requires a majority vote to pass.  SO you may receive *partial* funding for the request.

The poll CLOSES in 24 hours (we have to account for time zone differences for committee members in Western Canada, Eastern US, Amsterdam, the Czech Republic and somewhere in the massive nation of China), so PLEASE continue the discussion and questions here.  Committee members can wait until the last minute to make their choice :)

« Last Edit: April 14, 2014, 11:48:35 pm by joefox »
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Sebastien256

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #21 on: April 15, 2014, 12:20:13 am »

link to poll plz.
« Last Edit: April 15, 2014, 07:58:34 am by farl4bit, Reason: Deleted unnecessary direct full-quote »
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Damelon

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #22 on: April 15, 2014, 12:21:54 am »

Voting polls are visible to the MC only during voting.
After the votes are in they are made public.
« Last Edit: April 15, 2014, 07:58:47 am by farl4bit, Reason: Deleted unnecessary direct full-quote »
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Sebastien256

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #23 on: April 15, 2014, 12:24:50 am »

It would have been nice to have an additional voting option like, mining pool is not ready for large publicity, reapply later.
Imo, the hashrate pool is not ready for this. There is still thing that are bogus. I would only fund after the hashrate pool get out of beta and is functional like a real nice multipool with more functionnality.

No offence on pf. He did a great job so far. It just that the pool should be WAY better before make large public announcement and get a large amount of mining people. Imo, right now, a lot of people will be deceived by the product. They will use the pool while the extra Nxt are available, maybe dump Nxt after and then continue to mine something else. If you want to keep the people mining for Nxt you need to have a great product, otherwise people will go baack to their nice comfortable sock.

That is my opinion for having mining the Nxt mining pools from day 1 and have mined on multiple other pool before.
« Last Edit: April 15, 2014, 07:59:01 am by farl4bit, Reason: Deleted unnecessary direct full-quote »
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Damelon

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #24 on: April 15, 2014, 12:29:23 am »

This is a risk pf is willing to take.
He humself asked for fast tracking this, as he feels the need.
It's up to him to decide this.
The reason for the MC is not to see to it that every proposal submitted gets approved. It's to vote on the proposals it gets. With a week, we work with the proposers.

In this case, we try to get it done with what there is to work with  :)
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pf

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #25 on: April 15, 2014, 12:40:37 am »

It would have been nice to have an additional voting option like, mining pool is not ready for large publicity, reapply later.
Imo, the hashrate pool is not ready for this. There is still thing that are bogus. I would only fund after the hashrate pool get out of beta and is functional like a real nice multipool with more functionnality.

No offence on pf. He did a great job so far. It just that the pool should be WAY better before make large public announcement and get a large amount of mining people. Imo, right now, a lot of people will be deceived by the product. They will use the pool while the extra Nxt are available, maybe dump Nxt after and then continue to mine something else. If you want to keep the people mining for Nxt you need to have a great product, otherwise people will go baack to their nice comfortable sock.

That is my opinion for having mining the Nxt mining pools from day 1 and have mined on multiple other pool before.

Have you tried the blackcoinpool? They actually have even less statistics and stuff for people to view than I do.
But they've still driven up the price of Blackcoin over 50x
« Last Edit: April 15, 2014, 07:59:38 am by farl4bit, Reason: Deleted unnecessary full-quote »
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Sebastien256

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #26 on: April 15, 2014, 12:42:26 am »

Have you tried the blackcoinpool? They actually have even less statistics and stuff for people to view than I do.
But they've still driven up the price of Blackcoin over 50x

No im only mining nxt since you got your pool (because I really believe in Nxt and wanted to beta test the mining pool). Let see where BC going, if it survive the next few weeks, then your argument valid, otherwise that just an opinion. I like to think in the long-medium term, not short term.

EDIT: All I can say is to continue your great work. I really believe that what you are doing is good. But I think it the product can be better with more work coming in the next few weeks. Then make some publicity around your pool.
« Last Edit: April 15, 2014, 01:11:52 am by Sebastien256 »
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joefox

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #27 on: April 15, 2014, 01:23:29 am »

If pf's proposal fails, he's free to re-apply. No need to add "please apply later" options. We will provide rationale with the response, and the proposal can be adapted and resubmitted whenever.
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Sebastien256

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #28 on: April 15, 2014, 03:28:20 am »

One Cool thing to do, might be to start advertising the Nxt mining pool with *extra Nxt* at the same time as the AE release.

This could be very nice and create a hype around Nxt. So people can get NXT with mining to first use the AE. No need to buy Nxt from external exchange. It will show that Nxt have some indepedence. I think this is a great idea.

This can only be done if people in marketing and devs can get coordinate with pf!?! I don't know when AE will be release, but this could let pf some time to still improve its Nxt mining pool website functionnality before some community fund get release. That is just my opinion.

EDIT:
@pf, website functionnality is really important for miner, they love to know the statistics and to easy navigate. Obviously, you have understand this better than p00l.org, but still some things need and can be improved.
« Last Edit: April 15, 2014, 03:38:03 am by Sebastien256 »
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pf

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #29 on: April 15, 2014, 07:50:10 am »

lol, Seb, i know that. This whole thing is contingent upon the website getting the reporting side finished off.  I am nearly done putting it all together (it will look very very similar to wafflepool when I'm done).
Sorry if I had not been more clear about that.  But I will have full statistics in terms of coins, unexchanged coins, exchanged coins, etc, as well as miner profitability reports working very soon.  I just have been having to test the code extensively to make sure that it works properly. :)
« Last Edit: April 15, 2014, 07:59:50 am by farl4bit, Reason: Deleted unnecessary direct full-quote »
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Damelon

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #30 on: April 15, 2014, 08:05:12 am »

The thing I am worried about here is that we are collectively freaking out because BC is being such a success.
I have seen my share for coins ballooning and then crashing viciously and BC may well be the same case.

Nxt's power is in a much different place, although it is true that our trade is becoming diluted.

The problem I see is putting 15% of all the marketing funds into this, where the miners might easily just walk away after they get the spoils.

That money can also be spent on speakers, papers, sites etc, which stay around for a lot longer.

I am still very much undecided on what is the course of wisdom here. I am not against spending money for things that work, but I am on the fence, still.
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pf

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #31 on: April 15, 2014, 03:42:29 pm »

Once I get the pool profitability stats published today Damelon, perhaps it will help you make your mind.  The pool is doing (on average) better than just about every multipool out there.  (ie, yesterday only ~42 mhash of Scrypt miners mined 4802 NXT worth of altcoins (0.25144 btc worth) meaning that the pool paid out 0.006286 BTC/MH/day yesterday.

i will have stats for all of that stuff available on the site today, I am just at my day job right now.  I wish I could remember the last time i'd got more than 4hrs sleep because I spend all night every night working on that site.
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joefox

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #32 on: April 15, 2014, 06:26:21 pm »

Thanks pf. I just wanted to remind you that we've fast-tracked voting on this and the committee's decision will be made in less than 5 hours from now.
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pf

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #33 on: April 16, 2014, 02:22:19 am »

Thanks guys.

The first part of the profitability reporting is now live:

http://hashrate.org/payouts

I decided against posting a figure in BTC/MH/day as that just encourages dumpers.  I will be calculating the NXT/MH/day for all of the workers and including them on their seperate miner pages.
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Sebastien256

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #34 on: April 16, 2014, 04:19:08 am »

Now, the miner personal page is nice. GJ pf!

As a suggestion, maybe sort date from recent to old (Payout History is not ok yet).
I would also only showed the results for the last five days with a button "more" or "all" to show more days if someone is interested. In a couple weeks, this might be a mess with many row of text that may be not usefull anymore. No need to SHA or Scrypt data if no Stats is available. On main pool page and payout page, show the total number of Nxt pool have generated. This should be a counter update daily at the least. Big number look good...  :D What you plan on this?
« Last Edit: April 16, 2014, 04:27:34 am by Sebastien256 »
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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #35 on: April 16, 2014, 05:09:07 am »

Now, the miner personal page is nice. GJ pf!

As a suggestion, maybe sort date from recent to old (Payout History is not ok yet).
I would also only showed the results for the last five days with a button "more" or "all" to show more days if someone is interested. In a couple weeks, this might be a mess with many row of text that may be not usefull anymore. No need to SHA or Scrypt data if no Stats is available. On main pool page and payout page, show the total number of Nxt pool have generated. This should be a counter update daily at the least. Big number look good...  :D What you plan on this?
Aye, the history earlier than 7 days for the hashrates stuff will be likely rolled out tomorrow.  I'll also have some nice graphs generated on each of the miner pages showing stuff like hashrate versus time, and hashrate versus payout.
I expect to have all of the big features that the site has been lacking up until now completed prior to the weekend, hence why I made this thread. :)

I will see if I can get up a cumulative total on the front page.  I think my 150K estimate might be way too low, haha, I guess in hindsight the pool has been up nearly 4 weeks already. (heck, one miner has mined 47,000 NXT alone and there are several more that are 10,000+ )
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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #36 on: April 16, 2014, 05:32:24 am »

The thing I am worried about here is that we are collectively freaking out because BC is being such a success.
I have seen my share for coins ballooning and then crashing viciously and BC may well be the same case.

Nxt's power is in a much different place, although it is true that our trade is becoming diluted.

The problem I see is putting 15% of all the marketing funds into this, where the miners might easily just walk away after they get the spoils.

That money can also be spent on speakers, papers, sites etc, which stay around for a lot longer.

I am still very much undecided on what is the course of wisdom here. I am not against spending money for things that work, but I am on the fence, still.

I promise you Damelon, you will have never seen publicity quite like what this investment will get you. You have my word on that.
I'm gunna have to get to bed because I have to travel with work tomorrow - I'll be at a hotel though tomorrow night with work, so I will get tons of stuff done then. 
I am going to probably get ahold of that PR company tomorrow as well too and start making inquiries as to their turnaround times, etc. I expect they'll need at least a week or so (but who knows nowadays) to help get everything drafted and editted and scheduled and stuff.
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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #37 on: April 16, 2014, 08:26:47 am »

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Damelon

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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund
« Reply #38 on: April 16, 2014, 09:02:31 am »

Voting has closed with the following results:

APPROVED: fund 100,000Nxt for PR firm and publicity purposes

APPROVED: fund 15,000Nxt for keeping pool fees at 0% during the promo

NOT APPROVED: fund 300,000Nxt for additional incentives paid as bonuses to miners

Voting thread can be seen here: http://www.damelon.nl/mcforum/index.php?topic=35.0

Edit: I have submitted the details for 115,000 Nxt to be transferred to account 6523077528166477715.
neer.g MAY be away till next week, I just heard! i sincerely hope this will not be a problem.
Let us know if it is, and maybe we can work something out.
« Last Edit: April 16, 2014, 09:08:49 am by Damelon »
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Re: [MC]Hashrate.org NXT Mining Pool Promotional Fund: PARTIALLY APPROVED
« Reply #39 on: April 16, 2014, 10:35:18 pm »

Thank you all.

I am going to proceed with implementing bonuses eventually, out of my personal pocket.  If anyone is willing to match my donation to that, I will be using this wallet ID to hold funds for the bonuses: 15628004422239219406

I started it off with a 20k donation of my personal NXT, i will also be asking the pool miners to consider donating to it.


I will be coordinating with the PR firm over the next couple of days.
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