Continued from ABC thread
You clearly have no business sense and you totally nitpicked out of context the "1.) Attract miners and keep them happy with reliability aswell as higher payouts" comment I made, it was part of my explaination to keep miners on a pool incase there is a much longer term use for the pool, you build "miner loyalty" this way.
Actually I dont think you do. What you do is attract the hoppers who are trying to squeeze every last penny out of their miners, and once you no longer offer above market returns, they will move elsewhere as fast as they came. If that is your motivation for paying out >15% above market rates, you will be sorely disappointed. But lets leave that aside for now.
I have no intention to harbour hoppers on my pool, I know very well how hopping works and when they intend to hop so I will make every user aware of our counter measure/detection measures we will use that would quite easily distinquish between hoppers and loyal users.
Buying hashing power solves alot, I dont have to move huge amounts of funds immediately to an exchange,
How is having money at Mt Gox fundamentally different from having the same amount in BTCs? Ill give you one difference: one of them is highly volatile, the other isnt. So why as a business would you prefer to have a large stash of bitcoins rather than a stash of dollars at Mt Gox if your business is about selling bitcoins? Why assume the currency risk for no obvious advantage?
Moreover, you arent even assuring a stack of bitcoins, or even quick access to them; quite on the contrary, you are simply buying hashrate. All that does is provide a (fairly) steady stream of bitcoins. How does that help against spikes in demand from your customers? If someone places a big order, you have to say, "come back in 2 weeks, we may have minted them by then. Or maybe not, because really we have no control even over our own hashrate". Is that really an advantage compared to having or sending money to Mt Gox ?
Im not going to continue discussing this point, Ive tried to explain it before and mining compared to buying is less volatile/risk to me. Users will get their payouts as indicated and after the first payouts users would be able to post here that they did get payouts on the specified dates. Nothing more I can promise but to have users post their feedback once they start mining and if there is any wrongdoing/non payouts etc. then I hope users post here for all to see.
We have enough of our own coins/income to cover with ease the initial users we have pre-applied to start mining 1 February, the case I made about being able to tell users atleast 24hrs in advance that the pool would not be available anymore is fair and not damaging to anyones longterm income(all payouts would be made of course in case this worst case scenario would ever occur)
I dont have to rely on every BTC order to be fullfilled(sometimes people change their minds) and if for any reason I lose all BTC orders I can inform all the users atleast a day in advance that the offer/pool wont be available anymore(or for the time being).
Buying BTCs at an exchange takes 2 seconds. Whats the problem? And if for some reason you would buy the coins before the customer paid you (and why would you, you can buy them instantly even on your cellphone), you just sell them again. It doesnt cost anything like the 10+% you are paying now.
For me to move money to an exchange takes a long time, to move a large amount of money is also a ton of redflags on my financial records. Lastly to move just enough to cover various BTC purchases would require me to constantly at various amounts transfer funds to the exchange. All of this is a huge hassle, right now if I do need to buy BTC for whatever purpose I move funds once a month to an exchange at non-regular intervals in order not to raise redflags at our reserve bank. All of this have been thought out and what seems to be more logical to you doesnt work out more logical for me or with less hassles. Moving funds via wire transfer out from the country takes long, incoming wires is much faster. You can choose to believe me or not, I wont try convince you any further.
This is where we wont agree it seems, you believe it imperative to layout every single future plan from a business perspective.
No I dont. But all these recent 100+% PPS businesses are quite nebulous about their business plan. You are no exception.
I suspect you all have the same plan. I just hope it doesnt originate from demand from one single buyer who is looking for a cheap way to get sufficient hashrate to pull off a double spend attack. Because that would beyond question be worth paying 10% above market price for and Ive yet to hear another explanation that makes sense. So far, yours doesnt.
The reason you give doesnt actually make much sense except perhaps to you and its your choice to believe in whatever you want but until proven its nothing more than conspiracy theories. I only know about me and goat offering above 100% PPS offerings, please list me some of the "all these recent" offers. a1bitcoinpool probably saw me and goat offering this and figured it would be valid way for him to get atleast one user with his new pool after his pool failed to get constant hashrate with using proportional payout(this is all available in a few threads, just look for it and when he decided to make his post about 105% PPS)
