Prohashing Mining Pool Forums

I'd like to draw attention to our latest poll. We are considering adding charity donations as payout proportions. In the coins list, in addition to all the coins that are currently listed, customers would also be able to select charities. Those coins would be stored as litecoins or bitcoin cash and then forwarded to the charites at the end of every week. While this feature probably won't earn us many customers, we simply think it would be a great thing for the world if we can redirect a few percent of profits to good causes.

If we extrapolate the voting (there was about a million dollars earned last week, but only 35,000 dollars has been voted), right now we could probably raise about $7500 per week for charity. However, the richest customers, who can afford to donate a higher percentage of their income, have yet to vote, so I suspect that the amount is higher.

We won't implement the feature unless the amount of money to donate ends up higher than how much it will cost in salaries to create it. Otherwise, it just makes more sense to give the money directly. Please cast your votes in our latest poll so that we can determine how much money we will be able to raise together!

I love the ethos of your intention. There are many thousands of worthy causes strapped for cash.

For US customers, I believe charity donations are 100% tax deductible. It doesn't work the same way around the globe unfortunately, and here you have to sign a Gift Aid statement, detailing your donations and the charity gets a tax credit. So I think you would need to be clear about whether this is included an income statement.

Personally, I would be happy to donate my forfeited coins to a charity like http://www.pcrf.org.uk/ (Pancreatic Cancer Research Fund), one of the diagnosis is synonymous with "end of life" - eg the 5 year survival rate is still 3%.

For any other charity, I would want to ensure that 85%+ of the donations go directly to the intended cases.

alim wrote:
Personally, I would be happy to donate my forfeited coins to a charity like http://www.pcrf.org.uk/ (Pancreatic Cancer Research Fund), one of the diagnosis is synonymous with "end of life" - eg the 5 year survival rate is still 3%.

Apologies - this should read:


Personally, I would be happy to donate my forfeited coins to a charity like http://www.pcrf.org.uk/ (Pancreatic Cancer Research Fund), one WHERE the diagnosis is synonymous with "end of life" - eg the 5 year survival rate is still 3%

Steve Sokolowski wrote:... We won't implement the feature unless the amount of money to donate ends up higher than how much it will cost in salaries to create it. ...

Is this a one off event or is there ongoing salaries that need to be paid out of said donations? It sounds like an ongoing thing since if it was a one off, it would be paid for in almost no time.

would you be into donating a portion of the salries?

guess not, eh?

Foxx wrote:

Steve Sokolowski wrote:... We won't implement the feature unless the amount of money to donate ends up higher than how much it will cost in salaries to create it. ...

Is this a one off event or is there ongoing salaries that need to be paid out of said donations? It sounds like an ongoing thing since if it was a one off, it would be paid for in almost no time.

would you be into donating a portion of the salries?

I'd say it will probably cost $5000 to implement and test. Things look good - we might be able to make that back in a single week.