Even Bram said it’s like a bingo and you’re presenting your cards or lottery. But the most important is good plots and especially your space in the network. That’s why I think we need more clarity about moving between pools and contributing plus rewards.
Why we can’t just have plots that are fully transferable/saleable. it’s pretty disingenuous to say “you can just just delete them and you have the space back” knowing full well most people either don’t need the space or have bought drives which will go down in value as they get cheaper.
My questions are:
- When can we have more info about all the requirements to join the pool?
- Rights and responsibilities of the person running the pool and the members?
- Is there any lockup period to start the new plots for the pool, moving between pools or leaving?
- What’s gonna be the rule for rewards distribution?
- Can we have some warnings or notes triggering in the event of bad plotting or any problems with the network reflecting the whole process of plotting, farming, connection, space etc.
Thanks
“Estimated time to win”
I forgot what it said before… I think this was recently changed? Whatever, it sounds like you’re guaranteed to win here. Yes, the fine print says it may take much longer, but it still sounds ‘reassuring’ that you’d win.
My disagreement with is this is if this is based on your net space, that should be all that is there. Your chances of winning are x% based on y EiB.
I understood this was a longshot gamble. I just misjudged how much netspace would grow. But I also understand the average person’s view on this. Personally, I do tend to fall on the side that this should not have launched without pools ready to go. But can’t do anything about that but wait.
I think this is going to be another option to explore with more and more space added to the network. I don’t think we can compete with the size of expansion of the network and the prices of hard drives. The real solution is what they do mostly in China- federated plotting and farming plus combining resources in order to expand faster and get more and more rewards. I see the only way Chia to stay decentralized is transferred files once created to refresh your storage and give every single or pool member a chance to win. Otherwise will have what it it now- only the biggest will get the rewards because they can keep up with the most important- huge expansion of storage space especially in the cloud.
I’m not sure if this is really true.
The thing is that if you have a small setup say like 100 plots. If you where to join a pool right now, you would see some return on that.
If you solo mine on the other hand, it might take a long time before you get “lucky” and win any coin at all, in that time the netspace keeps growing and your chance to win is decreasing accordingly, to the point where it takes longer and longer to win.
In that way I think the rewards of solo vs pool are only truly equal if either the netspace doesn’t grow much or your setup grows at the same pace as the netspace.
But I was more generally wondering what the reasons are to have it like a lottery, that at least looks to incentivize centralization, and not have the core system work more like the pools do?
On the plus side I understood yesterday from the stream that within 1-2 weeks we will be able to create plots that can be used for pools later on and that they are switchable between pools at any time.
Unfortunately, actual pools might take 1-2 months to be ready
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I suppose this gives us all the time to get our pool plots ready for go live. Pooling is the way to go as far as I can see, the net space growth is currently out pacing my plotting speed. The time estimates no longer change for me when a plot is finished which they did early last week.
Ok, here are the questions I’ve collected so far. Please reply to this and quote any you think should be adjusted, or that I left out one way or another:
EDIT: Moved to main post at top of thread
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Will a plot file have an internal signature indicating it is “pool ready”? i.e. Can I identify plots that can not be added to a pool so I can delete and replace them? Or do I need to manually track the files?
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Great question to ask!
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I have one more question:
- Is there any options to create some kind of a treasury inside the pool and going forward to be the base for the future staking or delegating? It will be nice to have this in the future and a goal to stay and contribute whatever size of plots everyone creates so the whole pool will benefit with the enormous size of the network. Being able to have some staking is going only to increase the value, stability and price of Chia. Thanks
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Will there be any update to the UI with regards to “estimated time to win” for when you are in a pool. Perhaps something along the lines of “pool’s estimated time to win” and “expected amount to earn from a pool win”?
We will probably need a whole new UI section just for pooling haha
How do I know it’s fair? What if someone is intentionally trying to cheat? What if someone has 10k plots that are too slow to respond to challenges? Will I get short-changed?
Good question, can you fake plots to appear like a whale within a pool community to increase your reward share?
You are absolutely right
Yes, we cannot plan to buy a disc forever and prove that we are environmentally friendly, we need a pool now.
We invested but it feels bad not to receive awards
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I had shared our questions with Gene earlier in the week, looks like Bram took a stab at answering a good amount of them already, so I’ll get a new thread going tonight and pin it that contains the Q&A we’ve seen thus far:
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