Bitcoin Block Party || Group Run A

[kaulfuss]

There is growing interest in "Block Parties" (small groups of miners banding together to rent a higher hashrate).  I try to participate in Willi's Block Party whenever possible.  I believe that as a result of this growing interest, some people are interested in going after larger, riskier rewards.  I'm looking to start a Block Party to supplement the existing Block Parties when it seems relevant to do so.  

I messaged Willi before posting this, and I want to make it clear that this isn't sponsored by Willi.  He is not opposed to others starting Block Party runs, though.  I do not intend to try to take users away from Willi's Block Parties.  If interest drops off, meaning Parties are not filling up as quickly, I'll suspend mine as long as his are running regularly.  Again, I try to participate in his Block Parties when possible.  I'm just looking to offer another route when demand is high.

I have run with Willi about 10 times, I believe, and was part of a Party that found Block 712217.  I'm a new name, so I'll tell you a little bit about myself.  I am a Computer Science teacher and Instructional Technologist on the east coast of the U.S.  I have been mining Bitcoin as a hobby for over 5 years, nothing big - just hobby size stuff, unless I rent some PH from NiceHash.

To the details!

Each Block Party will run with between 15 - 20 users.  You are free to contribute as much BTC as you like, but please contribute a minimum of 0.005₿.  Once we arrive at a total, your contribution constitutes your share, and should we find a block your percentage will match.  Here is an example:  If you donate 0.005₿ and the total BTC is 0.15BTC, your share is 3.3%.  If a block is found with some small transaction bonus on top (say 6.37BTC), your return would be 0.21BTC (currently $10,213).


DO NOT SEND COINS UNTIL YOU SEE YOUR NAME IN THE TABLE BELOW!
Group Run Wallet Address: 3PQCYkLyWk4kzJCudrvyMRFwTcuyy7FtvN


Please note, the percentage will change dynamically as members are added.

Block Party Members:

No.	username		Amount		paid		%		Tx		Return Addy
1	canceled		1		open		1		none		own addy
2	canceled		0		open		0		xxx		xxx
3	canceled		0		open		0		xxx		xxx
4	canceled		0		open		0		xxx		xxx
5	canceled		0		open		0		xxx		xxx
6	canceled		0		open		0		xxx		xxx
7	canceled		0		open		0		xxx		xxx
8	canceled		0		open		0		xxx		xxx
9	canceled		0		open		0		xxx		xxx
10			0		open		0		xxx		xxx
11			0		open		0		xxx		xxx
12			0		open		0		xxx		xxx
13			0		open		0		xxx		xxx
14			0		open		0		xxx		xxx
15			0		open		0		xxx		xxx
16			0		open		0		xxx		xxx
17			0		open		0		xxx		xxx
18			0		open		0		xxx		xxx
19			0		open		0		xxx		xxx
20			0		open		0		xxx		xxx
TOTALS	9		1		0		1		...		...

If you are interested in participating, first let me know.  Once your name appears in the table, reply again with the following information:

Code:

Group Wallet: 3PQCYkLyWk4kzJCudrvyMRFwTcuyy7FtvN
Your Wallet: BTC address ONLY
Your stake: (minimum 0.005₿)
Your Tx: 

For now, we will start renting 20PH and see what happens.  That was the rented PH for the Block my Party hit.  If we need to change in the future, we will do so.
Please understand that there is risk involved with this endeavor.  We may not hit a block, but if we do, what a holiday!!

UPDATE:
Since this is an early run, and I am a fairly new user, Willi has volunteered to provide a mining address.  The Group Run Wallet Address above will not change, but if we hit a block, the reward will go to Willi's address.  This way an established user can oversee that portion.  Just a reminder, though, this is a risky endeavor, and we may not hit a block.  Thanks, Willi.

[_oh_no_stop_this_]

Hello, that is something novel (at least to me). Is it all rented from NiceHash? I heard that their luck is somewhat lower than it should be

[kaulfuss]

Yes, I do rent from NiceHash.  There are other rental services out there; however, I've had success with NH, and others I know who run Block Parties prefer NH.  Since I'm starting new, I'll stick with that for now.  If in the future there is evidence to change, of course, I'll be open to that.

[MinoRaiola]

Hey, as there are a few more, I'll be happy to join. I wish you a Merry Christmas.

[kaulfuss]

Hey, as there are a few more, I'll be happy to join. I wish you a Merry Christmas.

Great, you are on the list.

Merry Christmas to you, as well.

[willi9974]

I'm in too and will send my coins when the spots fill up

0.005 BTC from my side

Update:
Offer to minimize the risk for all. We can mine on my wallet then you do not trust a new user with 6.x BTC in case of a block find.

[kaulfuss]

I'm in too and will send my coins when the spots fill up

0.005 BTC from my side

 Thanks.  You are on the list.

[kaulfuss]

Update:
Offer to minimize the risk for all. We can mine on my wallet then you do not trust a new user with 6.x BTC in case of a block find.

I'm not sure exactly what you mean.  Are you saying to send coins to you?  Or are you saying once we fill up you'll send me an address to set up on NH to use on solo pool?  If the second one, I am fine with that because then if we find a block you can send coins and no one worries that I'll run away with it all.  If the first one, I am okay with that, too, but that just seems like you would set all of that up yourself.  I can support either one if that makes people more comfortable.

[Coinking2021]

Hi ,

Count me in for .005btc.

[willi9974]

The second one, i could send a Adresse for mining and in kind we found a block i will pay out to each member. That limit the risk for all in kind of an blockfound and each member have to take the risk of the invest in you. Understand me not wrong but it is only a offer to make it a little bit saver for all…

o_solo_miner speak out the risk of an new user in the solo pool topic.

Best regards,
Willi

[kaulfuss]

Hi ,

Count me in for .005btc.

You are on the list.

The second one, i could send a Adresse for mining and in kind we found a block i will pay out to each member. That limit the risk for all in kind of an blockfound and each member have to take the risk of the invest in you. Understand me not wrong but it is only a offer to make it a little bit saver for all…

o_solo_miner speak out the risk of an new user in the solo pool topic.

Best regards,
Willi

That's a great offer.  It will build some confidence in the early runs.  Yes, we will go with that.  Once the list is filled and coins are paid, I'll get a mining addy from you and use that on NH.

Thanks!

Update:
Willi, I added a note at the end of the main post about you providing a mining address.  Thanks!

[kano]

Since this one is outside the thread where my posts get deleted ...

I will point out some reasonably simple checks and balances.

If the price paid for 1PH/day is (as an example) 0.005 (PPD)
and the total BTC is (as an example) 0.15
and Fuckhash claims they take 3% so:

Firstly that makes the obvious 0.97*BTC/PPD PH for a day run
i.e. using the example above 29.1 PH/s for 24 hours

But this number doesn't actually represent what you are really paying for and can verify.

1PH/s for 24 hours is ... 1e+15 * 24 * 3600 hashes = 8.64e+19 hashes (/ 2^32) = 2.01e+10 difficulty

This is actually the number that matters - if you pay for 1PH/s for 24 hours your total worker difficulty should be 2.01e+10 (shares)
(and your best share will be some random value greater than Diff/14)

If you look through any solo run that someone has run and posted the final statistics, it should be close to that.

However it will be lower. Fuckhash cuts off your rental about 2-3% before it should finish - so you end up paying between 5% and 6% fee
i.e. the initial 3% you lose at the start and the extra 2-3% you lose at the end.

So anyway, the simplest number to use is that 2.01e+10 number,
your BTC/PPD as a PH number,
and expect the total worker difficulty will be around 2-3% lower than 2.01e+10 x PH

This of course has nothing to do with identifying withholding, it simply has to do with verifying that the person who got the BTC then paid for the mining, didn't skim some of the BTC (assuming the pool works )

Edit: I will however add that I think these runs are a bad idea and have made that clear on my pool also, since the long term expected result is a loss.

[kaulfuss]

Thanks for the information.  I hope it brings people some peace of mind to know there is a way to check behind the organizer.

[mikeywith]

With all due respect to the OP, I believe nobody should send funds to his wallet, you are expecting to collect the equivalent of $5,000 for the run, which isn't a small amount of money to anyone reading this.

I think the funds should be sent to willi9974, and since this is blockchain, OP can check the transaction IDs and manage the list without having to actually hold the coins.

OP : I have nothing against you, you could very well be more trustworthy than anyone else but if I was to let this slip, then I have to do the same for anyone else who tries to collect a modest 0.1 BTC.

[kaulfuss]

With all due respect to the OP, I believe nobody should send funds to his wallet, you are expecting to collect the equivalent of $5,000 for the run, which isn't a small amount of money to anyone reading this.

I think the funds should be sent to willi9974, and since this is blockchain, OP can check the transaction IDs and manage the list without having to actually hold the coins.

OP : I have nothing against you, you could very well be more trustworthy than anyone else but if I was to let this slip, then I have to do the same for anyone else who tries to collect a modest 0.1 BTC.

I understand and respect your hesitation.  The reason I am running this is because Willi is busy with the Mega Run.  Sending the coins to his address would put the work back on him.  I won't be offended if people don't want to fill the run and just wait for Willi to be available again.  I don't expect Willi to vouch for me, but as I said earlier I have participated in about 10 runs with him.  Those transactions can be verified.  That means that I've sent over 0.1BTC.  I don't plan on running off and ruining all future possibility to participate in any runs of his or my own.  I do totally understand any hesitation and won't be offended if people just want to wait for the Mega Run to conclude.

[nanaminatotomomido2021]

I trust kaulfuss, willi and Mino Raiola. Please let me participate at 0.005 BTC.

[Begru]

Hi, please count me also in for 0.01

[kaulfuss]

I trust kaulfuss, willi and Mino Raiola. Please let me participate at 0.005 BTC.

You are on the list.

Hi, please count me also in for 0.01

You are on the list.

[NightInGale08]

Count me in. Ill send bitcoins when im on the list.

[kaulfuss]

Count me in. Ill send bitcoins when im on the list.

 Great! You are on the list.