What about solo mining with a group of people?

[Dizzyduzzy]

What if instead of a pool, a certain amount of people decided to solo mine with a responsible hashrate behind them? Wouldn't it be better to split the profit between 6-10-15 people than a couple thousand or mill? Has someone tried this before? Does it make sense or am I just stupid. English is not my first lang, be nice.

I'm currently solo mining with 90-110ths if anyone want to join. Waiting on a couple more miners, about 50-60ths more.

[philipma1957]

What if instead of a pool, a certain amount of people decided to solo mine with a responsible hashrate behind them? Wouldn't it be better to split the profit between 6-10-15 people than a couple thousand or mill? Has someone tried this before? Does it make sense or am I just stupid. English is not my first lang, be nice.

I'm currently solo mining with 90-110ths if anyone want to join. Waiting on a couple more miners, about 50-60ths more.

people run these.

i used to

and willie does them now

although i am not sure how they are being run now due to laws.

I am usa based If I run one with ten people I am subject to a lot of laws due to the high value of a block.


willie are you still doing them?

[Dizzyduzzy]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

[stwenhao]

Wouldn't it be better to split the profit between 6-10-15 people than a couple thousand or mill?

There is a software called P2Pool, which was more popular in the past, and where people mined their blocks in P2P way. Later, it was replaced by bigger, and more centralized mining pools, because it will not scale, if you want to work with lower difficulty. In general, you mined a block per 30 seconds, with 20 times easier difficulty, than it was in mainnet.

[philipma1957]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

if you go to viabtc.com

and solomine BCH 200ths should hit a block in around 100 days.

you win BCH not BTC but you can then convert the BCH to BTC on the viabtc website.

a block of BCH is close to 900 or 960 usd

I point 18th to them which means It should be a block every 3 years or so

Of course I hope for a faster hit.

[Dizzyduzzy]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

if you go to viabtc.com

and solomine BCH 200ths should hit a block in around 100 days.

you win BCH not BTC but you can then convert the BCH to BTC on the viabtc website.

a block of BCH is close to 900 or 960 usd

I point 18th to them which means It should be a block every 3 years or so

Of course I hope for a faster hit.

I'll do some research on this, doesn't sound that bad tho. Thanks for the answer

[Outhue]

What a great idea,  

Mind blowing, I've never for once think about this and yet it's very very possible, but I guess it's best to do this among well known people like friends, but and but wouldn't this raise any issue?

Human will always be human, like where will be solved BTC get sent into? A address that belongs to who exactly?

Multi sig BTC Address where all the groups have part access to? Where one can't move the BTC from behind without others signature? I am just saying.

This will help in Solo mining but safety first, any safer procedure about this?

[aphetor]

Yes! We run team solo mining "block parties" at upendo.xyz you can point your hashrate there or you can also buy extra hashrate on our site to add to the party to increase the odds of finding a block. We source hashrate from rigly.io which is a hashrate marketplace.

[eb66]

Yes! We run team solo mining "block parties" at upendo.xyz you can point your hashrate there or you can also buy extra hashrate on our site to add to the party to increase the odds of finding a block. We source hashrate from rigly.io which is a hashrate marketplace.

I can vouch for Upendo - https://upendo.xyz - (I'm also the co-founder)

I was inspired by Willi's block parties here and wanted to make a place where folks can solo mine together easily.

You can buy hashrate through our platform or join w/ your own miner.
Bitaxes welcome.

We mine together via CK Pool and we're running our block party every other Saturday.

[mikeywith]

Wouldn't it be better to split the profit between 6-10-15 people than a couple thousand or mill?

There is a software called P2Pool, which was more popular in the past, and where people mined their blocks in P2P way. Later, it was replaced by bigger, and more centralized mining pools, because it will not scale, if you want to work with lower difficulty. In general, you mined a block per 30 seconds, with 20 times easier difficulty, than it was in mainnet.

The way p2pool functioned is very different from what OP is trying to achieve, although, a private P2pool instance would be a lot safer than the current centralized solo mining parties that use a centralised pool.

Using p2pool protocol, you can tell for sure the coordinator can't steal your coins if a block is found, but setting that up is costly and requires some IT skills, which is one of the main reasons why p2pool was deemed dead.

[ABCbits]

Using p2pool protocol, you can tell for sure the coordinator can't steal your coins if a block is found, but setting that up is costly and requires some IT skills, which is one of the main reasons why p2pool was deemed dead.

Limited support towards some ASIC also the reason it's dead. Meanwhile P2Pool on Monero is alive and well with about 5% global hashrate.

[mikeywith]

Limited support towards some ASIC also the reason it's dead. Meanwhile P2Pool on Monero is alive and well with about 5% global hashrate.

That was probably a tiny little reason, i think it was compatible with most gears out there, what really killed it was PPS payment method, it nearly killed all non-pps pools, p2pool "died" a lot faster because on top of it not being PPS, it was not for the average joe.

However, p2ool lagecy still lives if you dig enough, if you look at this block https://mempool.space/block/00000000000000000001822dc3db70b75d281687f8baa10d1818d0703f49fec0

There is a clear evidence that this is p2ool based block, look at the number of output addresses, and the coinbase tag, it refers to a p2ool node based in Russia.

[ABCbits]

Limited support towards some ASIC also the reason it's dead. Meanwhile P2Pool on Monero is alive and well with about 5% global hashrate.

That was probably a tiny little reason, i think it was compatible with most gears out there, what really killed it was PPS payment method, it nearly killed all non-pps pools, p2pool "died" a lot faster because on top of it not being PPS, it was not for the average joe.

Good point. P2Pool for Bitcoin still use PPS, while P2Pool for Monero these days use PPLNS.

However, p2ool lagecy still lives if you dig enough, if you look at this block https://mempool.space/block/00000000000000000001822dc3db70b75d281687f8baa10d1818d0703f49fec0

There is a clear evidence that this is p2ool based block, look at the number of output addresses, and the coinbase tag, it refers to a p2ool node based in Russia.

I inspected it and it seems to be block mined with P2Pool software. I can't access website mentioned on it's coinbase tag, but i wonder whether they only use abandoned P2Pool software or did some modification.

[mikeywith]

I inspected it and it seems to be block mined with P2Pool software. I can't access website mentioned on it's coinbase tag, but i wonder whether they only use abandoned P2Pool software or did some modification.

it has indeed been modified and is being maintained by a fellow forum member https://bitcointalk.org/index.php?action=profile;u=139997.

He runs two nodes, one in the U.S and another is in Russia (the node which found the block i referenced earlier. i am not sure which website you are trying to access but it's working fine for me except for the borken ssl cert.

[hawer357]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

[FP91G]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

I don't know how you will distribute the rewards, but it seems to me that dividing a possible profit of 400-500 thousand dollars between 200 people is not so interesting. I think that such pools should have no more than 10 people, so that there is an interest in getting rich, and not getting an additional salary if you are lucky.

[hawer357]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

I don't know how you will distribute the rewards, but it seems to me that dividing a possible profit of 400-500 thousand dollars between 200 people is not so interesting. I think that such pools should have no more than 10 people, so that there is an interest in getting rich, and not getting an additional salary if you are lucky.

Would earning $400,000 to $500,000 make you rich? The idea behind this particular pool is that small miners can increase their chances of mining a block by joining together in a group of other small miners.

The rules at Willi's Pool are quite simple: the miner who finds the block receives 10% of the reward, while the remaining 90% is distributed among miners who maintained at least 200 GH/s over the past seven days.

[FP91G]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

I don't know how you will distribute the rewards, but it seems to me that dividing a possible profit of 400-500 thousand dollars between 200 people is not so interesting. I think that such pools should have no more than 10 people, so that there is an interest in getting rich, and not getting an additional salary if you are lucky.

Would earning $400,000 to $500,000 make you rich? The idea behind this particular pool is that small miners can increase their chances of mining a block by joining together in a group of other small miners.

The rules at Willi's Pool are quite simple: the miner who finds the block receives 10% of the reward, while the remaining 90% is distributed among miners who maintained at least 200 GH/s over the past seven days.

In my country, an average person who works for 40-45 years earns 500,000 dollars, so this money will greatly help change your life if it goes to an educated person. 2-3 thousand dollars, unfortunately, will not help change your life, but it is also a good profit.

[hawer357]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

I don't know how you will distribute the rewards, but it seems to me that dividing a possible profit of 400-500 thousand dollars between 200 people is not so interesting. I think that such pools should have no more than 10 people, so that there is an interest in getting rich, and not getting an additional salary if you are lucky.

Would earning $400,000 to $500,000 make you rich? The idea behind this particular pool is that small miners can increase their chances of mining a block by joining together in a group of other small miners.

The rules at Willi's Pool are quite simple: the miner who finds the block receives 10% of the reward, while the remaining 90% is distributed among miners who maintained at least 200 GH/s over the past seven days.

In my country, an average person who works for 40-45 years earns 500,000 dollars, so this money will greatly help change your life if it goes to an educated person. 2-3 thousand dollars, unfortunately, will not help change your life, but it is also a good profit.

Where is that, Cape Verde?

It could definitely help an average family stabilize their situation—maybe even secure housing.
For us, or for me, it's more about learning and enjoying the experience."

[FP91G]

Oh yeah I found it, saw they have around 90ths and 110 members. Don't know if they have found a block already or not.

I was thinking something like that but with a better hashrate from each member. I can put 160-200ths by myself. But yeah, it solves my question, there are indeed people doing it. Thanks man

We currently have approximately 250 TH/s across a little over 200 miners. The pool experienced a split some time ago, during which larger miners formed their own group. You can find the stats for Willi's pool here: https://solorun.lima.zone/

I don't know how you will distribute the rewards, but it seems to me that dividing a possible profit of 400-500 thousand dollars between 200 people is not so interesting. I think that such pools should have no more than 10 people, so that there is an interest in getting rich, and not getting an additional salary if you are lucky.

Would earning $400,000 to $500,000 make you rich? The idea behind this particular pool is that small miners can increase their chances of mining a block by joining together in a group of other small miners.

The rules at Willi's Pool are quite simple: the miner who finds the block receives 10% of the reward, while the remaining 90% is distributed among miners who maintained at least 200 GH/s over the past seven days.

In my country, an average person who works for 40-45 years earns 500,000 dollars, so this money will greatly help change your life if it goes to an educated person. 2-3 thousand dollars, unfortunately, will not help change your life, but it is also a good profit.

Where is that, Cape Verde?

It could definitely help an average family stabilize their situation—maybe even secure housing.
For us, or for me, it's more about learning and enjoying the experience."

In Russia, $900 a month is a good salary. In Moscow, the average salary is between $1,200 and $1,600. But if you are a good specialist, then you will earn several more salaries

I like lottery mining because I invest a few hundred dollars and get a very, very small chance to earn 400-500 thousand dollars or more. And if in America 2000 dollars is the minimum wage for life, then what is the point of mining for this?