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cryptotore
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January 25, 2016, 10:44:12 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool?  |
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Nthused (OP)
Legendary
 Offline
Activity: 1554
Merit: 1001
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January 25, 2016, 10:48:44 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. |
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cryptotore
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January 25, 2016, 11:10:23 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it!  |
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Nthused (OP)
Legendary
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Activity: 1554
Merit: 1001
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January 25, 2016, 11:14:47 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it! Well that is the aim, that is why there is a 0.5BTC Min Buy-in so more people can join. There was another team that rented 500TH for 24hours recently and found 2 blocks  Lucky Buggers |
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citronick
Legendary
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Activity: 1834
Merit: 1080
---- winter*juvia -----
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January 26, 2016, 05:09:16 AM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it! the German guys did the Lotto thingy 500th for 24 hours -- hitting 2 blocks ! What a handsome payout for them Well that is the aim, that is why there is a 0.5BTC Min Buy-in so more people can join. There was another team that rented 500TH for 24hours recently and found 2 blocks Lucky Buggers |
If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
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madmartyk
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Activity: 2702
Merit: 1030
Yes I am a pirate, 300 years too late!
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January 26, 2016, 12:03:31 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it! the German guys did the Lotto thingy 500th for 24 hours -- hitting 2 blocks ! What a handsome payout for them Well that is the aim, that is why there is a 0.5BTC Min Buy-in so more people can join. There was another team that rented 500TH for 24hours recently and found 2 blocks Lucky Buggers They have now hit 3 blocks. |
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Nthused (OP)
Legendary
Offline
Activity: 1554
Merit: 1001
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January 26, 2016, 12:05:24 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it! the German guys did the Lotto thingy 500th for 24 hours -- hitting 2 blocks ! What a handsome payout for them Well that is the aim, that is why there is a 0.5BTC Min Buy-in so more people can join. There was another team that rented 500TH for 24hours recently and found 2 blocks Lucky Buggers They have now hit 3 blocks. I know I seen earlier, they are having a streak ATM Since no one was interested at this point in time I decided to try my luck with just over 100TH for a few hours and have already hit a 1.7B share. |
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ryanb
Legendary
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Activity: 1148
Merit: 1000
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January 26, 2016, 04:31:25 PM |
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I don't have hashing power so do we rent some hashing?
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welshy82
Member
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Activity: 112
Merit: 10
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January 26, 2016, 05:07:39 PM |
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How would this be different from a normal small pool? Or mining solo, from a solo-pool? Because we are putting our money in together to increase the chances of finding a block & to minimize ones expense while trying their luck by themself. So say you have 1 BTC to spend (that is roughly 100TH for 24hours) if you have 5 people then that increases your chance 5 fold at 500TH although payouts will be made according to invested share percentage. We want to hit that 25 BTC block, imagine the profits if we do. Yes it does, but it also means you have to split the reward in 5. If 5 people were mining at a pool, it would be the same result. So I guess your point is to have a slightly higher chance of hitting the jackpot, withouth sharing the reward with too many people? I guess the title of the thread explains it all.. Got it! the German guys did the Lotto thingy 500th for 24 hours -- hitting 2 blocks ! What a handsome payout for them Well that is the aim, that is why there is a 0.5BTC Min Buy-in so more people can join. There was another team that rented 500TH for 24hours recently and found 2 blocks Lucky Buggers They have now hit 3 blocks. I know I seen earlier, they are having a streak ATM Since no one was interested at this point in time I decided to try my luck with just over 100TH for a few hours and have already hit a 1.7B share. Good luck m8 im watching this thread |
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Everybitbit
Full Member
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Activity: 224
Merit: 100
☆☆☆☆☆☆☆
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January 27, 2016, 02:55:31 AM |
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im really interested with this, but i dont have 0.5btc for starting to invest with you.. maybe can be more lower?  is it really profitable? any chance to lose? hehe |
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l8nit3
Legendary
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Activity: 1007
Merit: 1000
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January 27, 2016, 03:02:25 AM |
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im really interested with this, but i dont have 0.5btc for starting to invest with you.. maybe can be more lower? is it really profitable? any chance to lose? hehe Always a chance to lose. Specifically If the group doesn't find a block lol however these 'group rentals' seem to be the rage now and seem to be working out for all involved.... just make sure there is a multisig setup for the payout  |
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Nthused (OP)
Legendary
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Activity: 1554
Merit: 1001
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January 27, 2016, 03:12:07 AM |
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I don't have hashing power so do we rent some hashing?
Yes we all chuck into the pot to rent some Big Rigs (HashPower) together for 24Hrs and hope to get lucky and hit a BTC Block if not more & split it between whoever invested for the round & how much they put towards it. im really interested with this, but i dont have 0.5btc for starting to invest with you.. maybe can be more lower? is it really profitable? any chance to lose? hehe I suppose if there are rigs cheaper at the time then there can be a lower buy in amount. Yes there is always a chance to lose but there is always a chance to win, take this for an example last night hashing with 100TH for 3 Hrs I hit a 1.7B share, I rented another 200TH for another 3Hrs and didn't hit anything higher. Pretty much anything could happen, just always have your fingers crossed  I am willing right now to put 1.5BTC towards a run myself I just need others to join in to make it more worthwhile/longer & they would be getting their cut as well, think of it as a Lotto Syndicate to explain it better. |
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AngusCanine
Legendary
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Activity: 1414
Merit: 1001
To weird to live To rare to die
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January 28, 2016, 12:01:19 AM |
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I had 470gh rented for a week and hit 1.7B as well. If your run hasn't started by this weekend coming I would thro .25 btc into the pool as well
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ezeminer
Legendary
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Activity: 2212
Merit: 1118
Lie down. Have a cookie
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January 28, 2016, 08:32:25 AM |
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I pretty much drew up a basic layout, but what if you had something like this instead? Just to compromise for the large amounts. https://docs.google.com/spreadsheets/d/1DNQfGs86DsnG_kxl5ugkcusiTYQ2bcKMr7WVNeQhhnM/edit?usp=sharingI mean I wouldn't mind running it either Run funds for 24 hours worth of mining time. Currently for a 24 hour period: 0.5 BTC gets a little over 100TH 5.0 BTC for a little over 1PH 10.0 BTC for a little over 2PH |
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QuentinA
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January 29, 2016, 09:57:21 AM |
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Okay you look legit, willing to invest 1btc and pray for the best, how should I proceed?
Also where will you be directing the hashrate and how will we (the investors) be able to check it's all there and we hit 1,2 or 100 blocks?
Sorry for being paranoid, but it's my first group investment so I wouldn't want to loose it all for a scam (no disrespect intended)
Last question, why the 5btc limit?
Cheers,
Q.
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DanielRo
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January 29, 2016, 11:55:43 AM |
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Okay you look legit, willing to invest 1btc and pray for the best, how should I proceed?
Also where will you be directing the hashrate and how will we (the investors) be able to check it's all there and we hit 1,2 or 100 blocks?
Sorry for being paranoid, but it's my first group investment so I wouldn't want to loose it all for a scam (no disrespect intended)
Last question, why the 5btc limit?
Cheers,
Q.
I guess the one who make the group buy will use solo ckpool and provide his BTC address and you can check the status, the power used minute by minute on ckpool. |
Nothing is impossible :-)
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Nthused (OP)
Legendary
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Activity: 1554
Merit: 1001
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January 29, 2016, 10:40:58 PM |
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Okay you look legit, willing to invest 1btc and pray for the best, how should I proceed?
Also where will you be directing the hashrate and how will we (the investors) be able to check it's all there and we hit 1,2 or 100 blocks?
Sorry for being paranoid, but it's my first group investment so I wouldn't want to loose it all for a scam (no disrespect intended)
Last question, why the 5btc limit?
Cheers,
Q.
I guess the one who make the group buy will use solo ckpool and provide his BTC address and you can check the status, the power used minute by minute on ckpool. Yes all that is correct. Also ezeminer has decided to run a lotto group himself & I have decided to go and join him on our quest for the big one, anyone that was interested in joining in on this group can find us over here from now on. Block Breakers United (Solo Group Mining) https://bitcointalk.org/index.php?topic=1345538 |
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luxel
Member
Offline
Activity: 130
Merit: 10
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January 30, 2016, 02:49:19 AM |
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I have no experience with this at all, is there anything else I have to do then send you the bitcoins?
I am willing to enter the BTC0.05 team (maybe twice if that's allowed).
What do we get for this team and what are the chances to win?
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Nthused (OP)
Legendary
Offline
Activity: 1554
Merit: 1001
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January 30, 2016, 02:53:03 AM |
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I have no experience with this at all, is there anything else I have to do then send you the bitcoins?
I am willing to enter the BTC0.05 team (maybe twice if that's allowed).
What do we get for this team and what are the chances to win?
Basically you get your share % of the amount invested if the group were to find a block. Here is the new group run by ezeminer that I am now regularly becoming a part of - Block Breakers United (Solo Group Mining) https://bitcointalk.org/index.php?topic=1345538 |
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