Pools business model

Hi, is anyone thinking about creating own pool? I have 400TB of plots which puts in position where it’s tricky enough to replot, but I am not big enough to be on my own for the future.

I was thinking about creating a pool, but seems that pools are high volume , low fee business, where you have to go big or go home, which at least requires a significant amount of time. I don’t see much reason for people to join smaller /mid size pools, except if pool could provide something extra like plotting for free(if you live close to pool owner).

I am curious about people planning to create own pool how they think about it.

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Until there is a safe way to create pools I would advise against it. You don’t want to be responsible for controlling other peoples money.

To the contrary, perhaps, comparing with Bitcoin where people still make do.

People still make do an will even with 1 plot, but looking for more optimal strategy.

Sure I am talking about safe kind of pools in the future.

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In that case I think it’s very doable. Especially if you offer a good starting point yourself. I think ideally you want to be big enough to ensure a daily reward. If you can guarantee that you will get other people to join you. No doubt.

Well that’s my point if you get other people to join and get big enough you are big pool. We are going to end up with few big pools, won’t we.

I think per Chia Inc. business model they might want to counteract that. Hpool is a big problem IMO, they have to address it somehow. They want lots of small and mid farmers to outnumber datacenters who can in the end grow only so much, and loan businesses their “reserve” coins instead.

Yeah, although not idea how could they. There are too many problems:

  • most people aren’t really worried about centralization
  • economy of scale, the bigger pool gets, the more advantage it gets
  • pool fees will be race to the bottom and with low fees you need to get a high number of customers, so you can’t have a small pool.
  • I am not worried about one pool being too big.

Same applies to Bitcoin. I guess we have to wait and see, main difference in economies of scale being the Chia Inc. in the middle.

My main motivation apart from fixing my storage and cheerleading some fancy Polish math that’s behind this proof of space thing (and compression! nobody mentions that, of course coins aren’t about any of this as Doge shown, despite everyone being full of Vitalik-like shit) is this: Bitcoin and crypto (as in fake) currencies are here to stay and are far worse race to the bottom, so alternatives need to be looked at. The odds Chia gives right now are far better for mid size than in Bitcoin and going to stay so for a while even with pools unless it’ll be an immediate flop.

In the same boat. I’ve got 144TB and unsure how successful a solo plot would be.

What are you hosting the 400TBs in out of curiosity? You’ve got racks on racks?

Actually external drives for now.

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@kazatel I’m in the same boat - 720TB but that’s nothing compared to the netspace growth.

My friend and I are building out Belly Flop Club if you’d like to join, please do. I’m also @marclar on Keybase.

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How does it work? Its a pool?

And just to give you first impression if that helps, the site doesn’t look very professional(Might be my web developer me talking here).

Just a mailing list for now, and thanks for the feedback (but we’re kind of going for the crappy / chunky look).

See https://old.reddit.com/r/outrun for the general “vibe” :slight_smile:

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But yes, it’ll be a pool once the official pooling protocol is released.

May be somebody knows when the official pooling protocol will released ?

When it’s done. :smiley:

Transcript:

03:15 so pooling um we’re starting to work on
03:18 that
03:19 um hopefully it will be done
03:23 in may at some point but there’s a lot
03:24 of things that need to be done there um
03:26 especially with regards to security
03:28 and um and decentralization

You misunderstand how Chia and pooling works.

Bigger pools don’t get more advantage. All farmers still own their own plots. The % of netspace is what matters for each farmer.

Pools are just a way to smooth out earnings. Solo you will get long periods of nothing and bumps of wins. Pools a little trickle regularly. But over time, you end up with the same amount of XCH.

You have to be a bit chunky in order to belly flop properly.

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