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Re: NXTCrypto.org leased forging pool - - CEASING OPERATIONS  
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Author Topic: Re: NXTCrypto.org leased forging pool - - CEASING OPERATIONS  (Read 125021 times)

forkedchain

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im going to take a break for a few days now that i believe I have the pool running correctly.  it appears the autopayments are now working correctly, and even some behind the scenes DB stuff that you guys dont see, that correlates AM withdraw request transactions with sendMoney transactions, and then the sendMoney block, is also working right.

so ill probably take a look next week at this to see what.
« Last Edit: May 29, 2014, 08:14:04 pm by forkedchain »
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Nxter

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forked chain, see this message form James:  https://nxtforum.org/general-discussion/nxt-distribution/msg31492/#msg31492

You don't have any overhead if you lease your forging power.
Leasing costs 1 NXT every 23 days (plus 2 NXT to extract your revenue). Those are the transaction overheads, assuming the pool itself doesn't charge a fee. They are low, but not zero. If you have fewer than around 25,000 NXT your net return is likely to be negative.
I do not think it will be difficult to get some large NXT holders together who would agree to pay for the tx fees out of their forging fees, so you can calculate the returns without these tx fees. In that case, it wont ever be negative.

I think it is just a matter for the leased pool owners to find a friendly whale.
Until such whales come forward, I will authorize NXTcommunityfund to be the designated leased forging fees payer. So, if you are running a leased forging pool, please contact the volunteer who will coordinate this.

I do not have time to do this, so we first need a person who will work with all the forging pools to get the total fees calculations from each forged pool owner. Then they can send an extra NXT to cover the cost of setting up the lease. No fair to do daily leases,the leases need to be for the ~month period

Then whales, dolphins, etc. can donate to NXTcommunityfund so we can make this a permanent part of NXT community.

How is that for a solution? Now the return from forging is actually more for the smaller NXT holders and the larger ones are paying their fees. Is that fair enough?

James
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forkedchain

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I replied in that that thread.


Everyone, check out the new info on the status page.  Its not really pool-associated, but just shows all NXT that has been transferred in the network, as an aggregate, over the past 1440 blocks.  Same thing for fees.
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forkedchain

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hi all, check out the facelift!  thanks to QBTC for helping me on this.  Im donating some nxt to her, Ill give her some more if techdev ever approves my bounty
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Fatih87SK

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hi all, check out the facelift!  thanks to QBTC for helping me on this.  Im donating some nxt to her, Ill give her some more if techdev ever approves my bounty

Beautiful.
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himmelsfaller2

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hey while leasing for the first time i leased out again (for a second round) in the hope that I wont have to wait
1440 blocks again and then some days later I leased out again for a third round. it seems that this
doesn't work seamlessly or maybe I troubled the system? anyone can confirm?
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forkedchain

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it should work that way.  im me your account# and I can look it up in the blockchain and see what happened
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ebby

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@forkedchain and lessors:
This pool have got 411 NSC (NXT Security Coin) from the last 2 distributions. Congradulation!

I hope you can distribute the NSC to your lessors soon :-)

More information about NSC here -> https://nxtforum.org/index.php?topic=1511.0

Greets,
eb

How is it going with the distribution of the NSC to your lessors? At the current price the additional value for your lessors is 4110 NXT!!!

Tomorrow will be the next NSC Distribution! If I don't get an info from you, the distribution to your pool will be paused!

Greets,
eb
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Nxter

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@forkedchain and lessors:
This pool have got 411 NSC (NXT Security Coin) from the last 2 distributions. Congradulation!

I hope you can distribute the NSC to your lessors soon :-)

More information about NSC here -> https://nxtforum.org/index.php?topic=1511.0

Greets,
eb

How is it going with the distribution of the NSC to your lessors? At the current price the additional value for your lessors is 4110 NXT!!!

Tomorrow will be the next NSC Distribution! If I don't get an info from you, the distribution to your pool will be paused!

Greets,
eb

forkedchain is currently in holidays, do not skip distribution to this pool.
Thanks.
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allbits

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@forkedchain and lessors:
This pool have got 411 NSC (NXT Security Coin) from the last 2 distributions. Congradulation!

I hope you can distribute the NSC to your lessors soon :-)

More information about NSC here -> https://nxtforum.org/index.php?topic=1511.0

Greets,
eb

How is it going with the distribution of the NSC to your lessors? At the current price the additional value for your lessors is 4110 NXT!!!

Tomorrow will be the next NSC Distribution! If I don't get an info from you, the distribution to your pool will be paused!

Greets,
eb

forkedchain is currently in holidays, do not skip distribution to this pool.
Thanks.

+1

I trust forkedchain 100% to deal with distribution when he's back.  We'd like to continue to receive distributions of your fabulous coin through the pool.  :)
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forkedchain

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well im back, for awhile this time.  Rome was awesome.  Mexico was ok.

I was planning on working on your NSC but now devs are saying I need to split the pool up, and sorry but this is going to take priority as splitting will relieve these long periods between blocks we are seeing
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ebby

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well im back, for awhile this time.  Rome was awesome.  Mexico was ok.

I was planning on working on your NSC but now devs are saying I need to split the pool up, and sorry but this is going to take priority as splitting will relieve these long periods between blocks we are seeing

I just want to get a info, it's ok as long as you planning it ;)

Todays distribution to your pool was 527 NSC! Please don't forget to tell me the accountRS ID after splitting!

Greets,
eb
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nCtrl

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I think the pool is down, or on a fork. Most likely down though given it has no activity.
« Last Edit: June 04, 2014, 09:00:12 am by nCtrl »
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forkedchain

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yes its fixed now.... was constant scanning
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forkedchain

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allbits

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Mother of all blocks  :o

What's going on there?
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allbits

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I see.   He was making a bid for nemstake at 19,000 per stake but put the bid price into the fee line.

A rather simple error to make, I think.  The GUI should probably protect against that.

What are you going to do with the fee?
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forkedchain

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ill put it this way..  if I was leasing my own balance to your pool and this happened and you gave it back, id never lease out to you again.
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k_day

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I don't know man, maybe take a poll? As someone who is leasing their balance to this pool, I would have no problem with the decision to send it back. It is a dumb error, sure, but ~1500 USD is a pretty hefty punishment.

I've seen this happen a lot with Bitcoin and the alts, and the decision to send back always instills quite a bit of pride and goodwill among the community.

Obviously you can do what you want, but I think you may be overstating the reaction of those who lease here to you making such a decision. We are all in this together, and the collective health of the community matters. Being shrewd is not always optimal.
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2Kool4Skewl

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I don't know man, maybe take a poll? As someone who is leasing their balance to this pool, I would have no problem with the decision to send it back. It is a dumb error, sure, but ~1500 USD is a pretty hefty punishment.

I've seen this happen a lot with Bitcoin and the alts, and the decision to send back always instills quite a bit of pride and goodwill among the community.

Obviously you can do what you want, but I think you may be overstating the reaction of those who lease here to you making such a decision. We are all in this together, and the collective health of the community matters. Being shrewd is not always optimal.

+1

Accidents happen.  If it was me, I'd send it back.
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