Mining

[MARK GARCIA]

HI Forum.
I have been using the sapphire and bitcoin software. So far I have been learning the user interface and how to get blockchain and hash info. The part I am a little confused about is if i can earn coins with the software and how to send receive btc. If possible i would like to learn how to start a pool with workers, set up tips and make it work so we both earn. If you can help me on the subject I would greatly appreciate it.

Thank you.

[Amph]

if you want to build your own pool

this is a good guide

https://bitcointalk.org/index.php?topic=613930.0

[notlist3d]

Are you wanting to set up your own solo pool?   Or are you just wondering how to set up a miner as a worker for a pool ready set up?

Also are you talking about mining with a regular computer?

[MARK GARCIA]

Kind of both. Is a pool like a group or what? And yes i am trying to set up workers or figure out how it works. What I am trying to do is see it from the server side a little bit to better mine.

[notlist3d]

Kind of both. Is a pool like a group or what? And yes i am trying to set up workers or figure out how it works. What I am trying to do is see it from the server side a little bit to better mine.

A pool you combine your hashing power to mine blocks together.  If you do it on your own its solo mining.  BTC difficulty is so high and so much hash power going it takes a huge amount of power to solo at this point.  (Unless you got really really lucky).  Pool mining is way most go.

As far as mining on CPU or gpu sadly those day's are over.  It will cost more then you make.  Look over in hardware section at asics as you will need one to mine BTC.

[ranochigo]

Kind of both. Is a pool like a group or what? And yes i am trying to set up workers or figure out how it works. What I am trying to do is see it from the server side a little bit to better mine.

Yes. Pool operators create the back and front-end for many miners to join the pool to combine their power to mine a block together. The Pool will send you a work to solve and once it is solved, your miner will send the solution (proof of work) back to the pool to indicate that you are contributing. Once someone solves a block, everyone will then be paid for the amount of work they have contributed. The more hashpower the pool has, the faster it will solve blocks. It is pretty hard to solve blocks without ASIC headwares or rather, a farm of them. There are various payment schemes for pools, all of them here https://en.bitcoin.it/wiki/Comparison_of_mining_pools. The most common one is PPLNS, it is the most effective at stopping pool hoppers. Setting up a pool isn't easy since everything need to be audited and designed well to attract users.

[poisenrang]

Kind of both. Is a pool like a group or what? And yes i am trying to set up workers or figure out how it works. What I am trying to do is see it from the server side a little bit to better mine.

mining with your computer is really not good anymore. you will generate 0.00001 in a month.

[MARK GARCIA]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

[MegaFall]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

[ranochigo]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

No. That is only if you are solomining. If you are pool mining, you just need people with good hashrates.

Making a pool is hard. You have to attract people with great marketing scheme and features. People won't go to you if you have low hashrates, ugly and glitchy UI or frequent downtimes. You need ddos protections and various servers around the globe. You have to get big fundings to make a pool that would truly attract others. You are better off joining an existing pool. If you want to learn about Bitcoin, surf around the forums and YouTube.

[MegaFall]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

No. That is only if you are solomining. If you are pool mining, you just need people with good hashrates.

Actually... no; it's basic math. Pool mining is essentially combining the hashing power of multiple people, thus you are "solo mining" but cumulatively. There's no difference between pool mining and solo mining, other than with pool mining you are combining the hashrates of multiple people in multiple locations into one collective mining effort.

BitMinter finds a block on average about once a day (they have about 3PH), BitCoin.CZ averages about 4-5 a day (they have about 12PH). BTC Guild averages about 5-6 blocks a day (they have 15PH). Proportionately, you earn about the same at each pool per day based on your hashing power because of the amount of blocks each pool finds on a daily basis. You're shares are diluted out on the larger pools per block because of the larger cumulative hash rate, but you find more blocks a day and thus earn about the same across all of the pools. There's no secret to pool mining. It's the same as solo mining with a huge ass mining farm, its just your farm is spread out across the globe; and instead of keeping all of the revenue for yourself, you share it proportionately with the people that contributed their electricity and hardware.

[MARK GARCIA]

My difficulty is 1, what do I do? Whatever is profited I will share with whoever contributed to the best of my ability. I just do not yet exactly know how too:-(

[Amph]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

he want to setup a pool not a big farm, there is a difference

pool only require many miners, he don't even need equipment, just a good front and back-end, with a powerfull server, at least 32 giga + xeon, and anti-ddos protection

[ranochigo]

My difficulty is 1, what do I do? Whatever is profited I will share with whoever contributed to the best of my ability. I just do not yet exactly know how too:-(

It is normal. For most pools, they allow users to set difficulty or have variable difficulty which increases based on the hashrates. Larger shares can be submitted and the payout would still be the same in the long run. However, bandwidth would be saved. It doesn't matter alot. For small ASICs and GPU, the recommended difficulty is 1.

[MegaFall]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

he want to setup a pool not a big farm, there is a difference

pool only require many miners, he don't even need equipment, just a good front and back-end, with a powerfull server, at least 32 giga + xeon, and anti-ddos protection

Not what I'm saying... I'm saying he is going to have a amass a collection of enough miners (pool members) that culminate in around at least 3PH to be worth a damn. That will takes months if not years.

[notlist3d]

I would like to form a brand new pool or design one. Would we have to group up on here? and what is a average difficulty?

You're going to need amass about 3 Peta Hashes (about the equivalent of 3000 AntMiner S5s) worth of miners to score blocks more than once a day.

he want to setup a pool not a big farm, there is a difference

pool only require many miners, he don't even need equipment, just a good front and back-end, with a powerfull server, at least 32 giga + xeon, and anti-ddos protection

Not what I'm saying... I'm saying he is going to have a amass a collection of enough miners (pool members) that culminate in around at least 3PH to be worth a damn. That will takes months if not years.

With some current pools doing 0 fees it might be never.  You would have to dip into pocket and do give always or pay extra to get people interested. 

Most people don't jump pools too often.   And if you do get big then you have to have a decent amount of hardware as you really need servers around the world. I wish I could remember the name there is some pool that lets you solo mine on the pool.  You 99.99999 chance of not getting any money, but you could try solo mining out there.   

[Taras]

Hold on - you want to mine in your own private pool? How much hardware do you have?

You may need $500,000 to $1 million in mining hardware to solve blocks regularly. Your safest option is to just join an existing pool.

[big brother]

Hold on - you want to mine in your own private pool? How much hardware do you have?

You may need $500,000 to $1 million in mining hardware to solve blocks regularly. Your safest option is to just join an existing pool.

+1

Here's a picture of a bitcoin farm's equipment, and its not cheap.

http://s8.postimg.org/hfsoaz71x/bitcoin_farm_2.jpg