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HOW IT WORKS

I will be contributing 0.25BTC

I will have 250 bitcoin addresses that our group will be solo mining to @ckpool

Each address will have 5TH pointed at it until the contract expires which will be less than a day

I am looking at waiting until 2.5BTC are deposited until we start, as each contract will cost .01btc
and we will have 1.25PH pointed at solo.ckpool.org with 250 different addresses each at 5TH

It's basically P2Pool but on CKPool with a group of people that wanna have some fun.

Contributions: .05 increments

When we have 2.5BTC we will begin :)

with 2.5BTC the "expected average" would be a 1 in 10 chance of finding a block thus 10X your investment should we win.

However, it is very possible that you will lose whatever you contribute, and it is also possible and I have seen on a couple occassions where we could find 2 or more if were really lucky.

This is my favorite strategy of the ones I've tried. The p2pool style solo mining.

Anyone want to try it for fun and possibly share the rewards if we find a block?

The only thing I ask In return for the work it's going to take me is that if we get lucky I'm going to start a thread for my new book to try and create some buzz around it.

http://www.amazon.com/gp/aw/d/B01EPUE96G/ref=mp_s_a_1_1?qid=1461812744&sr=8-1&pi=SY200_QL40&keywords=solo+mining&dpPl=1&dpID=41YGZqLTBBL&ref=plSrch

saved for future posts about pledges. After we reach 2.5BTC in pledges, I'll notify everyone with the address to send the pledge in for your entry fee. 0.05 minimum to join the group.

Total pledges so far, 0.3BTC (0.25 of that is my pledge)

Needed to start: 2.2BTC

TLDR.
Wall of text.

Im interested but just checking it's .01 a contract and need .05 to get in so that's 5 contracts

Yes, .05 would buy five rentals of 5TH for a little less than 1 day.

tl;dr damn too long

make it free hahaha jk

Like a german group, but for smaller players. I like the idea, but I have some questions too:

About that contract; you will buy 2.5 btc worth of hash power, and that power will be splitted into .05 contracts, right?
Who's gonna have the initial funds and the possible reward, you?
With the estimated 2.5 btc, how long will be the rental?

2.5 bitcoin theoretically would give us a 1 in 10 chance.

We would be able to purchase 250 contracts each with .01btc and each with 5TH, and each mining to a separate address, 250 of them.

The contracts would end after less than a day, probably around 15 to 18 hours.

If we win, winnings would be split according to each person's contribution.

But, who's gonna hold the funds? Who's gonna split the reward?

All of the addresses we will use I have the private keys for and will split the reward.

I like the idea but, what makes you think 50 people will trust 1k to somebody without enough trust?

That's is why I'm only asking for a minimum of .05 per investor.

It's alot of work to run a group and make calculations and make payouts.

Now, add to all of that work by running 250 orders.

If we don't hit, then it's not that much work. However if we as a group hit, and I make payouts and build trust, if I continued running small groups I would most likely be asking for larger minimum entry fees

but how can you actually build trust to people?
i mean this thread is under investor based games section which has a lot of ponzis to start with, and we all know ponzis are just another term for scams

Apparently it's pretty hard lol

It is, and sadly, an escrow is not very helpful in this case.

Nope, it's not.

Didn't you already "get lucky"?
https://bitcointalk.org/index.php?topic=1364642.msg13982288#msg13982288

Agree with 1 thing though

Apparently there aren't any gamblers suckers in this section

I don't get where your coming from, yes we were very lucky and found three blocks with five coins. I wasnt running that group but the guy who was paid out. So how does that make me a sucker?

He meant by suckers who are going to believe in your sht.

Why do you keep  saying bullshit?
This thread isnt for your paranoid thoughts.

I wouldve joined this group, but i know, that it would be impossible to get the needed amount of members...

First of all, it was not me saying that message so get your facts right.
I was just telling OP what's that quoted message mean.

allikun, I wouldn't say impossible, if we get close I may be willing to put in more of the percentage to make up for it, and of course I wouldn't have anyone send in the funds until enough people make a pledge that they want in.

Do you want to make a pledge? It may get the ball rolling...

Ok, i will do so, tomorrow.

Cool! Thanks.

Count me in with 0.05

yay! The first pledge. K, I'll start a tally and when we have enough pledges I'll notify everyone of the deposit address and provide 250 links to all of the addresses we will be mining to so everyone can verify its working.

im sorry ive still didnt returned from the country side, ill join in a few days, as i return.

No worries ailikun, at this rate it might be a while until we have enough to start.

So i guess, this group will not work out.
looks like im the only one, who is ready to join =)

Well I gave it a run by myself, started with 7btc and found four blocks using this method. Unfortunately a run of bad luck lost all my earnings.

The thing I've learned about renting hashpower, is you have to have enough to stay in the game in runs of bad luck, therefore, I've dropped my efforts of solomining for now and have decided to instead use p2pool since that is the closest you can come to real solomining. I like the variance, but solomining variance is too "rich" for me.

I started a p2pool node in San Jose to rent from westhash and mine on p2pool. For those of you who want to try it, https://bitcointalk.org/index.php?topic=1708997.msg17123194#msg17123194