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Archived (Pre-Proposal) PIVX Mining Pool (Rented Hash) - Keep upwards pressure

danielle

Administrator
cryptopool
Apr '17

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Cryptopool.io 1 Pre-Proposal
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Cryptopool.io 1 has built a Multi-Algorithm, Profit switching mining pool that payouts in PIVX to miners, We currently support X11, SHA256 & SCRYPT ( We are considering to add some GPU Algos ) - Our Pool profit switches between the most profitable coins in the above algorithms and then auto exchanges them for PIVX. We charge a flat 2% fee which includes all exchange fees and transaction fees. - We have been operation now to the public for under a week and we have in total paid out 2359.22311859 PIVX to Miners!
What Benefits Does the mining pool give to PIVX?
  • 10% Pool fees are donated to charities Worldwide (Building transparency with the system on this)
  • Buy Support / Upwards pressure is put the PIVX price
Proposal
We would like to sustain a constant hashrate in all 3 of the algorithms we currently offer using a service called Nicehash / MiningRigRentals. Essentially Nicehash / MRR Rent you hash power instead of owning your own mining equipment, and allows you to point it to any pool in a number of different algorithms.
The Benfit of such a large Mining Pool puts upwards buy pressure on the price of PIVX on the exchanges our system trades on (Currently Bitrexx)
Our Proposal is a little backwards, But use the PIVX exchange it for BTC (Used as fiat on NH/MRR) And have daily X3 24 Hour Orders on SHA256, X11, SCRYPT - The Rewards will be paid either into paying the developers, or going back into the community via one of the Community Managers, Or Suggest something?
:slight_smile:

We would like to sustain 10 / 15 GH/s in X11 which at the current fixed rate of 0.0239 BTC/GH/Day is 0.25 BTC / 0.50 BTC - We are working on calculations on protiability using nicehash, but with the block chance of each coin we mine throws a spanner into the works. - This is only an issue until we see steady hashrate and miners into the pool.
Cost (Daily)
X11 - 250 PIV (฿0.25 Bassed on 0.00099762 Rate) - 10 GH/s
SHA256 - 150 PIV (฿0.15 Bassed on 0.00099762 Rate) - 200 TH/s
SCRYPT - 250 PIV (฿0.25 Bassed on 0.00099762 Rate) - 5 GH/s
Total = 650 PIV
Since this is a Pre-Proposal The above is not sent in stone, We can adjust accodingly and test/average rewards each month
Price is varialbe on NH above prices are averages PIVX QTY is variable bassed on BTC/PIV Pair
http://pivx.cryptopool.io 1
 
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