for me it depends....how many people, how much hash/time...

but I can safely say 0.5 maybe more if I consider the group worthwile


I think we should make calculations and different scenarios.... then post it here and give a deadline to pay..

like

1-
10 poople
cost: 0.35 each
hash: xxx TH
time: xxx Hours

2-
5 people
etc
etc
etc


I think we can get 10 or more if give it some time and spread the word....

for some reason it still doesn't work for me....

philipma1957 will you be willing to make it happen again ?
maybe for a fee ?


we already have few persons willing to participate...we just have to choose how much hash we want and for how long...

It doesn't have to be in petahash....proper calculations would have to be made

then we will know the cost/person


so far we have:

1- Ziploc
2- jacobmayes94
3- Solare
4- wmtomlinso

I agree for the rental price......but as I said before....if we, because I'm including myself, rent separately...we will pay the market price anw.....

therefore this aspects I would even consider it....

because the main point is to increase the hashpower/time to something substantial in conjunction with avg cost reduction per participant....

Yes it makes the ROI calculations a bit worst but not doing it at all makes it even worst for those who will purchase the hash themselves and don't want to throw 8-10BTC at it...

that's weird...checked with firefox, edge and chrome...all are not working...i'm from north america

could it be that the page banned my ip for too many tries ?

anw will try later on...

link doesn't seem to work....or page is down...ah you're fixing it now ?
still not working on my side....




for sure just to found that group it's a serious amount of BTC.....and the group can't be to big because it would be really messy to admin all that....
but it's maybe doable....

specially above certain petahash mark...

you're right....I think I missed my calcs......let me check it up again

and if someone can calculate the odds of hitting a block......


and lastly i haven't been in this thread for long time and saw few persons talking about renting hash.....I also rented for more than 0.5BTC so far...and it adds up...

I think that the odds are way better if the group can get a substantial hash rate and long enough hash time that a single person with smaller hash rate or way shorter time...


and when you're talking in petahash it's starting to be a more serious game.....
Now, I probably wouldn't rent less than peta for less than a day.......but that's me....

I proposed because I didn't knew it...and there's always people asking about renting....but renting on a budget isn't get you anywhere...

that's why i proposed it.....

and if it's a trustworthy person, like you for instance, it might not be as much of a work.....at least imho...

I was thinking about something simple.....but calculations must be done prior to make sure that odds are good.



If my calc are ok.....I took bitcoinwisdom and nicehash as reference

lets say 3.3 peta should on avg mine 1 block  or 25 BTC/24hrs..

3.3 peta at nicehash cost 16BTC/24hrs..

therefore if the rental makes 1block the group is even....


then if the group is let say 20-30 persons/or shares (as one might contribute like 2-3 single persons)

it would be easy to divide the contribution and the reward.....

16 BTC / nb of persons.....and
25BTC - CK tip and fees / nb of persons...for each block



let say that 16BTC is the right number....and to round the reward is 24BTC / block after all fees....etc.

also the person that would take care/organize might get a fee or tip if all agree....




Personally I would definitely participate...if someone can confirm my numbers....




then if 24 people participate it makes the cost 0,6666667 and the reward 1BTC/person/block....

or 30 people the cost would be 0.533333334BTC......and reward 0.8BTC etc.....

maybe we should do a GROUP hashrent ?

someone enlightened might make some calculations/estimations and see what are the odds/chances,etc

ok then now plz explain it to me why it takes on average 10min to resolve the block ?

if it's instant...the winner is chosen instantly then why that delay....?

the fast asiscs are sleeping 9m59sec...and for the the slow ones the instant moment lasts for 10min

yes these logic was already explained...but maybe you can explain this for me.....unfortunately I don't have specific stats as at that time I wasn't carrying much...

I had an array of different GPUs...
form 5700 series up to r9 290....

and I'm pretty sure the amount of blocks that 290 generated was way more important that the rest of all my gpus....and i used to have maybe 20 of them in total...
however it was scypt and x11 algos.....i'm not sure if that matters.....

also last year I was mining a cpu only prime algo coin...

I had 5-6 pc mining ...from a laptop to powerfull gaming desktop....amd and intel cpus...

the slower one never even found a block.....and all the mediums ones even if their total hash rate was way greater that my fastest desktop didn't even matched what that the fastest singe cpu mined.....

all these makes me somehow perplexed....

finally something to chew on for apple lovers

I didn't say I was EXPECTING....just tried....it was running for +/- 3 days if I remember...and I think the cost was around 0.35...

It's a learning process....

because I'm still not convinced that slower machines even at equal hash speed have the same chances as faster ones...

If I recall well from scypt mining few years back......faster GPU were hitting blocks way more frequently that slower GPUs....

I still think this applies to asics also....

I rented 0.35BTC 350Th...and nothing...

I also had 1.6-7 Peta for about 10 min.....LOL that was fun but nothing neither...

I must be very unlucky....LOL


BTW where is CK node located ? EU or USA

Happy 1year !!!

Bright future !!!

Still holding here

very cool

congrats and thx for sharing

Nice to know,

thx again for answers

I though so too but I suspected that there might be ways of improving the odds (like having the latest and newest miner), but I guess there's not

Anw Thx again for help and answers to the questions that probably were asked numerous times before.

That's appreciated.

And CK..

it's been few days I pointed my humble 2*s3 to your pool and I rented some hash...to experiment..

1- 1,7 Peta for 10 min.....that was fun but gave nothing....lol
2- 4,6TH for 2 days....still running...
3 -will see

yes indeed the variance and ''luck'' is there...

I avoided that to simplify the discussion

BTW thanks all for your time and answers


and what I understood is: (again beside the luck and variance)

1- finding a block means get the right side of multi faced dice (number of faces = difficulty)
2- bigger total hash power = more rolls in a definite span of time
3- a newer generation / faster miner should be equal to a equal sum of hash of multiple older gen / slower miners
4- finding a block might take few seconds or way longer....(this would be luck / variance)
and
5- I'm not sure about this; but I think that finding a block is somehow round based ? ie: once someone finds it, the round restarts and everyone starts new round from the scratch....



and thx philipma1957 for Bitcoinwisdom,
I never noticed that... always looked at the charts....lol