Proposal: Mining bonuses

[Daeghan]

Would this be an only solo or PPLNS or would it be eligible for those who use FPPS and would be able to accrue interest off what we want to be paid in or only what we mined?

[Banished_Privateer]

I do like the idea, but the % seems bit small, in case for small miners imho. If someone's got a big farm, several machines etc. it might not be as bad. In terms of small miner, getting that 100 doge and then 1 extra doge on top of that equaling 101 is not really worth freezing your funds for a month, especially when the market is very volatile. You lose plenty of trading opportunities for 1% gain.

Now, I do like and enjoy staking crypto, for example ADA has about 4% APY with capitalization for every epoch rewards (5 days) and you can unstake them at any given moment. ATOM on the other hand requires you to wait 21 days, but they offer higher % and instantaneous capitalization/rewards.

[Steve Sokolowski]

I do like the idea, but the % seems bit small, in case for small miners imho. If someone's got a big farm, several machines etc. it might not be as bad. In terms of small miner, getting that 100 doge and then 1 extra doge on top of that equaling 101 is not really worth freezing your funds for a month, especially when the market is very volatile. You lose plenty of trading opportunities for 1% gain.

Now, I do like and enjoy staking crypto, for example ADA has about 4% APY with capitalization for every epoch rewards (5 days) and you can unstake them at any given moment. ATOM on the other hand requires you to wait 21 days, but they offer higher % and instantaneous capitalization/rewards.

We can look into these coins, but although the gains are higher, you have to take a higher risk - leaving all this money in an unencrypted hot wallet. It's an enormous security challenge, and you've seen how places like Nicehash became insolvent and never repaid balances they owed to customers after a theft.

[Banished_Privateer]

We can look into these coins, but although the gains are higher, you have to take a higher risk - leaving all this money in an unencrypted hot wallet. It's an enormous security challenge, and you've seen how places like Nicehash became insolvent and never repaid balances they owed to customers after a theft.

What do you mean by unencrypted hot wallet? For staking coins that utilize PoS, you can perform it from your personal wallet. I suppose personal wallets can be normally encrypted and disconnected while staking. Ethereum is the troublesome one, as you require beacon and 32 ETH to successfully stake and as of now, I think only 3rd party services offer it. Coinbase only offers it for the US citizens sadly, which makes me unable to stake my ETH.

[futurebit]

I think thats a good Idea... Specially for the pool itself.

[Steve Sokolowski]

We can look into these coins, but although the gains are higher, you have to take a higher risk - leaving all this money in an unencrypted hot wallet. It's an enormous security challenge, and you've seen how places like Nicehash became insolvent and never repaid balances they owed to customers after a theft.

What do you mean by unencrypted hot wallet? For staking coins that utilize PoS, you can perform it from your personal wallet. I suppose personal wallets can be normally encrypted and disconnected while staking. Ethereum is the troublesome one, as you require beacon and 32 ETH to successfully stake and as of now, I think only 3rd party services offer it. Coinbase only offers it for the US citizens sadly, which makes me unable to stake my ETH.

Unfortunately, that's not true for most coins. To stake coins, the wallet needs to be unencrypted and connected to the network, so that a transaction can be created when it's time for the node to find a block. That means that anyone who is able to connect to the system can steal all the money.

[SpaceCase418]

How often can we opt in/out? I would likely do a week here and there but not continuous.