See this thread for more on using Borates in the pool -- not for making the pH rise, but for use as an algaecide. 30-50 ppm Borates is the recommended amount for that purpose and to get to that amount you add acid along with the 20 Mule Team Borax.

The only apparent downside is that it is "on the edge" for the level of first symptoms for toxicity in animals such as dogs, if they drink a lot of pool water (i.e. every day).

Richard