/biz/ - Business & Finance

>>8857049
pls OP heed my warning

pls be tru

>>2332526
You don't "pay", you "burn" exactly 1 ARK to vote for the biz pool
>the biz pol don't get this 1 ARK

You can vote once for each wallet you have
>you probably only have 1

The balance in your wallet is your "stake" in the pool
>you can still access these ARKs and transfer them as you please

Every block "mined" by the pool gets a reward
>works pretty much the same like bitcoin, tx fee + miner reward

BUT ONLY IF that pool has a combined stake that puts it in the top 51 pools
>Our pool has about 90k stake, the 51th has about 762k

This voting system is intrinsic to ARK, this is how ARK is designed to work, it's part of their Proof-of-Stake model

IF YOU CHOOSE to vote for the /biz/pool, the guy running the pool PROMISES to use a script a distribute the 90% of the miner's rewards in proportion to your stake in the pool.
>But what if he breaks the promise?
He won't get your ARK, your staked ARKs are yours, even in the tx window for the voting system shows a transfer from you to yourself.
Besides, if he breaks his promise, people can "un-vote" him, and he'll drop below 51 and not gain any more mining rewards.

>TL;DR
You pay 1 ARK to "transmute" your wallet into a savings account that earns about 6% a month (I did the math, was sloppy though) + full liquidity. But that will only happen if we get to 51.