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1  Bitcoin / Mining speculation / SEEKING ANSWERS TO ? OF: SOLO MINER POTENTIAL REALISTICALLY?? 2022-23 on: December 04, 2022, 05:18:18 PM
Dear  Senior/knowledgeable/very experienced  miners,  could  I  gain  your  thoughts  please...

Please  kindly  bestow  any  information  you  would  you  kindly  help  in  as  much  depth  as
possible  with  this  question  as  I  require  more  than  just  yes/no  :

Is  it  really  worth  it  as  an  individual  these days  given  all  the  mining  farms  and  their
power,  to  achieve  solo  results?  it's  just  I'm
genuinely  curious  about  the  realistic  potential  of  the  individual  miner  gaining  positively?
thoughts please?

Many  thanks  in  advance.
2  Bitcoin / Pools / Re: Cooperative mining on: December 04, 2022, 04:16:09 PM
I ponder often upon the question of what Satoshi Nakamoto envisaged when it really come to mining and the opportunity and it's fairness thereof?? How can a hard working individual be part of a system and reap it's rewards through mining when you have what is many mining farms now?? Just curious because most always seem to lose out due to old saying "you need money to make money" but more specifically to the topic at in mind, the more computing power.

I wonder due to not being a developer/programmer/computer scientist, what has been done if anything to address (if possible?) what is mentioned in the last paragraph about "...false positive near-hits..."Huh

ribuck's description is spot on.

Pool operators can modify their getwork to take one additional parameter, the address to send your share to.

The easy way for the pool operator would be to wait until the next block is found and divy it up proportionally as:
user's near-hits/total near-hits from everyone

That would be easier and safer to start up.  It also has the advantage that multiple hits from the same user can be combined into one transaction.  A lot of your hits will usually be from the same people.

The instant gratification way would be to pay a fixed amount for each near-hit immediately, and the operator takes the risk from randomness of having more or less near-hits before a block is found.

Either way, the user who submits the hit that solves the block should get an extra amount off the top, like 10 BTC.

New users wouldn't really even need the Bitcoin software.  They could download a miner, create an account on mtgox or mybitcoin, enter their deposit address into the miner and point it at anyone's pool server.  When the miner says it found something, a while later a few coins show up in their account.

Miner writers better make sure they never false-positive near-hits.  Users will depend on that to check if the pool operator is cheating them.  If the miner wrongly says it found something, users will look in their account, not find anything, and get mad at the pool operator.
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