Steve Sokolowski wrote:After reading all this, it seems to me that people want stability and the only true way to achieve that is to raise fees. They would have to be double what they are now to make an appreciable difference.
Is that what people would prefer?
BANGS HEAD AGAINST THE WALL
So let me get this straight...your saying that raising fees will increase stability because current customers (mostly smaller miners) would leave because it isn't profitable, therefore reducing hash etc...? And this is the ONLY way to do it? I'll state this again, who cares if the accounts gain value? And this is assuming that your hypothesis of how it would play out, played out...personally I think maybe its a bit farfetched...but let's assume its set in stone through some magic crystal ball that this is what would happen...Let's play it on out further...
Smaller miners sell their accounts yadda yadda. So what happens next? Well, you kinda left out a few things in the middle, and this is based on what YOU have said. During this time you will be gradually improving stability, correct? And I'm assuming you are also planning to fix these issues to where they aren't there any longer as well, correct? Obviously this scenario wouldn't play out over night. So even the remotely intelligent people who are serious about mining wouldnt just put their accounts on ebay the day new accounts were stopped, therefore they would see the pool improving. So if your able to improve the pool even gradually, people aren't going to sell their accounts...Simple common sense. I would hope your improvements aren't going to take years, so before this end all scenario of yours played out, the pool SHOULD be stable enough to open up new accounts.
Now, like I've said before, I'm not promoting or dismissing this idea, I'm just engaging you on your comments. So, back to the raising fees...I'm sorry to sound like a smart a$$ but for the love of god man, go take Economics 101 at your local community college. I don't care how big or small the miners are, IF YOU ELIMINATE PROFIT, YOU GO OUT OF BUSINESS! Saying that raising fees therefore eliminating profit would make people leave the pool, therefore that's how to reduce hash...I can't fathom how this is POSSIBLY a decision that makes sense in running this business.
I'm not dismissing the fees idea altogether nor am i promoting it, but to the extent you are saying just makes zero sense!!!!! I just have to repeat myself yet again...make your current customers happy before you worry about the next guy because once the current customers leave, that new guy becomes those customers who left and follows suit.
People are coming here because they can make more money. If you take that away, they won't come...So you loose your current customer base and can't draw in new customers because they can't make money...this is how business works.
I can't begin to claim to know the technical aspects of this pool and don't claim to. But as a CPA whose built a large firm from the ground up only to have it fail and force me to live out of my car and then build a 2nd firm up again...I can speak to economics and business. Whether you know it or not and whether anyone will say it or not...I'm telling you, you are at or rapidly approaching the tipping point. You said yourself recently, and I concur, that this could be the largest pool out there...But also this pool could fail miserably!
I'm thinking I'm pi$$ing in the wind here but I like this pool and I don't want to see it fail. So for what its worth, that's my 2 Satoshi, yet again.
