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Title: Want to understand Mining Pool... Post by: newIndia on June 14, 2014, 10:44:02 PM For a mining pool owner, is it required to run his own miner, e.g. ASIC or a GPU rig, or he can operate it from laptop by setting it up in a shared web hosting, where miners will join with their mining machines ?
p.s. I believe Mining pools are operated from web hosting at data center, not local machine connected to the web. Please correct me if I'm wrong in my assumption. Title: Re: Want to understand Mining Pool... Post by: Kprawn on June 15, 2014, 07:01:08 AM It may be better, to ask this question in the Mining section of this forum. ;D
Title: Re: Want to understand Mining Pool... Post by: newIndia on June 15, 2014, 08:10:05 AM It may be better, to ask this question in the Mining section of this forum. ;D Asked a Q before posting here and as usual none replied (https://bitcointalk.org/index.php?topic=649250.0). Mining section is not very helpful :) Title: Re: Want to understand Mining Pool... Post by: Keyara on June 15, 2014, 03:20:05 PM For a mining pool owner, is it required to run his own miner, e.g. ASIC or a GPU rig, or he can operate it from laptop by setting it up in a shared web hosting, where miners will join with their mining machines ? p.s. I believe Mining pools are operated from web hosting at data center, not local machine connected to the web. Please correct me if I'm wrong in my assumption. You don't need to be a miner to operate a pool. But trying to get other to use your pool is not easy task. Title: Re: Want to understand Mining Pool... Post by: joshraban76 on June 15, 2014, 04:05:54 PM It's not a must for the pool owner to have mining rig.
Mining pool in a simple term, group of miners, connected via internet to a large virtual place, server which is located at a data center. Their hashing powers are combined together, when more and more miners are joining, the more profit they are making. Title: Re: Want to understand Mining Pool... Post by: rarkenin on June 15, 2014, 05:25:25 PM At a lower level, miners are always trying to solve the problem of mining (SHA256(SHA256(coinbase+nonce))) and trying to minimize that value. However, they can send in solutions that aren't as good to the mining pool (called shares), and when someone does get a valid block, they send it to the pool, which then shares the profits with the miners based on how many shares they sent in, less any fees.
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