Feathercoin Foundation and donation co-operation with pools
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Hi,
I have couple suggestions. I read topic about people planning new contest and Nutnut’s comment about how to collect funds gave me an idea :)
[b]1) Feathercoin foundation?[/b]
Partner WDC published a Worldcoin foundation and I believe that having this kind of official foundation could improve coin’s image and help it’s adoption. Like also bitcoin has it’s own. But important thing what they are also doing with foundation, they are collecting donations that they can use as a payment to get some improvements and other stuff. This kind of possibility could also help Feathercoin projects to go forward faster. For example wdc foundation already used some donation coins to hire someone to code osx wallet. Feathercoin could do similar things or then use coins to have some contests?[b]2) Donations and pool co-operation?[/b]
And the new idea for this is that there could be some official co-operation between pools and foundation/community. There is now option for miners to give some volunteer donation to pools. How about if some of this coin flow could be officially targeted to Feathercoin community? Pools could advertise that xx% of pool donations are forwarded to community and this way pool can get some more miners who are willing to support the coin. Also ftc forum should hold a list of pools that are giving donations. If many miners participate, then donation of one miner doesn’t even need to be much to make this already quite big thing?As I know at least D2 and Nut2 pools are owned by ftc staff. It would be interesting to see how it would effect to miner donations and amount of miners in those pools, if they start to advertise that they offer way for miners to give their straight support for Feathercoin community.
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+1 to idea no.1
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I like number 1 too.
I’d be prepared to give number 2 a go on one of my pools.
Any thoughts as to how to work it though? A good pool server aint cheap so we would need to ensure that the pool ops dont loose out. As there are so many free pools out there it will be a tough sell to charge a fee (unless it’s pps ;) ).
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Yes I like this too. Would be interesting to hear more thoughts from the rest of the community.
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[quote name=“Nutnut” post=“25873” timestamp=“1376907623”]
I like number 1 too.I’d be prepared to give number 2 a go on one of my pools.
Any thoughts as to how to work it though? A good pool server aint cheap so we would need to ensure that the pool ops dont loose out. As there are so many free pools out there it will be a tough sell to charge a fee (unless it’s pps ;) ).
[/quote]Yes, This idea doesn’t work if pool start loosing coins by supporting community and I must say I don’t know details how much it cost to run a pool. Like you said, many pools offer also free choices, so pool that is having high fees couldn’t compete with them. But most of the free pools have some volunteer donation system… Some miners donate and some miners don’t. Donations from miners to community should also come as a volunteer donation ability, so this fee is not causing pool loosing miners to cheaper place. Pool fee should be separate from this, it’s only for pool’s own income.
What I’m thinking that how much it could have effect to amount of miners and amount of their donation, if some pool would make announcement that for example 50% of volunteer donations will be forwarded to coin community for development use. So this could also be thought as a marketing investment for a pool. If total amount of donated coins get double because of this announcement, pool owner is already on his own… and after that this announcement could bring pool owner some extra profit, because more users and as a bonus same time pool is supporting the community.
The big question is that is there big group of miners who have interest to support coin development with donations??? At the moment feathercoin has over 3 GH/s mining power also during the high difficulty peak, so I believe this group include many miners with interest to give 1-2% donation knowing that part of it goes to good use and [b]help to improve value of their long time investment[/b]. At the moment biggest pool is Coinotron with 2% fee that goes for pool only and if total cost to miner can stay below that or ~same level, then I believe this possibility could become really popular among loyal miners.
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I believe the Foundation Idea is a good one.
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[quote]
if we add 0.005 % Transaction Fee - 0.001 % goes to Foundation to support Feathercoin and related developments. 0.004% goes to Miners, Max transaction charge 1 FTC.
[/quote]This is an interesting topic, so I have refined the idea.
I suggest that the 0.0001% donation address is default to the FTC foundation, but big shops / miners / charities / open source projects - are allowed to set the donation to one of a list of approved donation addresses.
The disadvantage of trying this stuff now with one of the few coins with an established network like Feathercoin is, the potential that there are unknown consequences. The donation address could be attacked. It means the Foundation is too centralised e.t.c.
The donation would have to be implemented in Feathercoin2 - a higher / lower / slower / faster / more secure / gpu only version of Feathercoin. To satisfy the “markets needs” as they develop.
We don’t actually know what these needs are yet are either till the market kicks off. Then I believe we will be dealing with opposite problem of too many transactions!!
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A fixed donation amount per transaction is better if it’s no higher than current minimal transaction fee.
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[quote name=“d2” post=“27115” timestamp=“1378201969”]
Setting up a foundation to handle project / contest funding is a great idea and I support it as long as it’s ran properly with full disclosure and managed by responsible parties.As for pools offering funding, it’s a great idea, but I disagree with the idea that people will want to contribute or mine on a pool because they fund the foundation with donations. My pools are 0% fee with the idea that people will want to donate a small percent to help me with server costs. What I’ve noticed is that most people set donations to 0% and just take advantage of the no fees so I don’t think this will really matter too much, but I would be open to exploring the idea more.
I have noticed that there aren’t very many free pools left, but even my own rarely sees more than 3-5% of the network hash and the bulk seems to be at pools like coinotron that do charge fees :o
As far as a part of the transaction fees going to the foundation, it’s an interesting concept but should remain as just an idea for now at least.
[/quote]This surprises me. I am currently donating 2% of my admittedly small hash power and will now bump it up to 4% to help out. Also as for the foundation donation idea just have a separate entry box to set that donation. That way people can choose to donate or not. I would throw in 1% to the cause.
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Just going to bump this post because [b]@Mirrax[/b] mentioned it in the Trollbox.tv chat during our meetup group.
Are there any other conversations about this on the forum?
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[quote name=“handyrandyrc” post=“27981” timestamp=“1379005364”]
+1 on the foundation.I didn’t realize how hard it is to keep a pool alive and running. Increased my donation a bit – not that my wee hash-powers will help a lot… :)
[/quote]Thanks for the support Handy! Really appreciate it. :)
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I had to look it up - Bump
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1, Go to [url=http://bitcointalk.org]bitcointalk.org[/url]
2, Click the donate buttonSimple isnt it?
[b]1 button on main page[/b]why dont we just copy this simple way with our own tuning??
just idea
