*Mining Mates* BTC Solo Lotto Group

[Nthused]

Hello One & All

I have pondered for a while & have decided to try and start up a BTC Solo Mining Group.

I am hoping to get a team together before the next BTC Difficulty change to make it more worthwhile.

Here is a rough draft: https://docs.google.com/spreadsheets/d/1gxqBIYV0yzkuKHLy7pjtVHZM85pTSdyjuSW7UkkWMy0/edit?usp=sharing

If anyone is interested please let me know or contact me.

[cryptotore]

How would this be different from a normal small pool?
Or mining solo, from a solo-pool?

[Nthused]

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.

[cryptotore]

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! 

[Nthused]

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

[citronick]

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

[madmartyk]

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.

[Nthused]

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.

[ryanb]

I don't have hashing power so do we rent some hashing?

[welshy82]

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

[Everybitbit]

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

[l8nit3]

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

[Nthused]

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.

[AngusCanine]

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

[ezeminer]

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=sharing

I 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

[QuentinA]

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.

[DanielRo]

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.

[Nthused]

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

[luxel]

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?

[Nthused]

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