Topic: citb0in Solo-Mining Group - BLOCK SOLVERS (english) - page 9. (Read 3808 times)

Well, we've been running a fun run like this on kano.is since early in the year (0.0006 per person x 10)
The main difference is that on kano.is you get to see all the stats, not just 'at the moment' with no history and the false luck stats of that other solo pool and it's false claim of anonymity.

Of course I don't want large runs like willi on kano.is coz gambling 10's of thousands of dollars per run is not what I'm interested in helping people do, it's a fun run anyone can get involved in, like getting a cheap lottery ticket, not desperate gambling.
And willi's claim that he can ignore a run that didn't get a block, to make his stats look better, is dodgy at best.
(if it did get a block, guess what, he would have included it)

Nice detailed thread, perhaps you should sum it up, you know, we human beings nowadays don't seem to have enough mood to spare on reading long threads.

I think I have a proposal for you, I would guess that most users won't trust you with a whole block (nothing personal) but many would still trust you with 20$ / 0.001 BTC, so why not act a like a pool for Willis' block party?

See Willi doesn't want to have to deal with more than 10 folks per run which we all understand, so he wants each person to join in with 0.01BTC, many of us can't afford to play with that amount every week, so why not collect 0.001 BTC from 10 guys and then send it to willi as 0.01BTC and then if willi hits a block you get that 0.001BTC and pass it to your guys?

I'd assume willi might even be willing to do that for you assuming your guys don't trust you even with 1 block / 10 worth of BTC, even if willi doesn't want it, I am sure someone else who is trusted enough by most people here would be willing to do it for you at a small cost if not for free, you can have a public agreement with willi that if your group address wins anything the amount has to go to 10 addresses.

By doing something like that you will bypass the trust issue, Willi would be able to do his runs more often since you will be helping him collect enough BTC for the run, the small fish who can't afford $200 to play with will be happy to risk 20$, it's a win-win for almost everyone involved (except for you of course since you will be doing a bit of work  ), but it does seem like you are going to enjoy it anyway.

It won't be long before we're ready to go and wielding the scrapers

nozzles - check
Ignition - check
Target - check
Lucky cloverleaf on board - check

Cadets! Fasten your seatbelts, it's about to start ...



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EDIT

Our maiden flight is launched at 05:07 PM and the cloud layer has just been broken. We launched 2.5 PH/s for a total of 20h and 38min.

At the beginning the takeoff jerked a bit because the diff was not adjusted immediately. Hashrate can and will fluctuate during the run. So don't be surprised if we get up to 4-5 PH/s provided by the rig owner for a short time due to the bumpy start. Because the overall result after the end of the run must correspond to the advertised/promised average rate of 2.5PH/s. This means that the rig owner sometimes turns on the tap a bit, so that more hashrate flows and the average hashrate thus equals the booked hashrate. This then always oscillates a little above and below. Just follow it in the live feed. Enjoy the great view and stay tuned...



==> Live API URI on SoloCK Pool <===

May the force be with us  

*reserved*

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There are 10 slots available per run. Each slot in the normal runs can be filled with a stake of 0.001 BTC and 0.003 BTC for the power runs. Payments go to the address bc1qtyvxwhwctneje9zjvqkzvp6yqtnqc3xs0sf6vd.

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The following thread is the english translation of THIS THREAD from the german subforum

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All info on each run will be kept up to date here in the thread in post #2

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Dear mining and competing fans, Welcome to citb0in SoloMining group


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We all are dreaming of finding a valid bitcoin block and getting the reward of currently 6.25 BTC, aren't we ? Welcome to the fascinating world of solo mining

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What is it about ?
The BLOCK SOLVERS project was created to enable solomining as a group with a limited number of 10 participants and a small stake of only 0.001 BTC. We will rent SHA256 hash power through MiningRigRentals (hereafter abbreviated as MRR) and directed to the SoloCK pool with the hope of mining a new block on the Bitcoin blockchain. The number of participants is limited to 10 so that if a hit occurs, the payout amount of approximately 0.625 BTC per participant still remains attractive to each of the participants. The minimum stake per participant is only 0.001 BTC (=1mBTC). Thus, we have a total of 0.01 BTC available per run. With this we can run with a hashrate of e.g. 5 PH/s for about 10h, or 10 PH/s for about 5h, or 1 PH/s for about 42h. If the participants wish so after arrangement to run a higher hash rate for a certain round,  then we could increase the stake per participant to 0.003 BTC instead of the 0.001 BTC. With the total of 0.03 BTC in the pot we could engage a run with enormous 50 PH/s for approx. 3h. However, at least 1 PH/s hash rate will be rented for our runs. As a rule, the stake per slot is 0.001 BTC and with that we can run for 26h with 2 PH/s.

What is the background ?
Most of you certainly know Willis' block partys which exist and take place for a long time. I myself have already taken part in them because I would like to land a block hit. I love the competition and in a group it is even more exciting and fun. Unfortunately, the stake of 0.01 BTC seemed too high for my circumstances, I just can't afford that in the long run. In the last few months I've been doing my solo runs on my own, but that also at a hight cost of expense in the long run. So solomining as an individuum is really exhausting.

Since I know from experience that it is not easy to invest 0.01 BTC as a stake per run and to participate in the long run, I would therefore like to offer an alternative option. This project Block Solvers is an alternative option for group-based solo mining and allows to participate cheaply and regularly. That's why the minimum stake of 1 mBTC (0.001 BTC) and maximum stake of 3 mBTC (0.003 BTC). Together as a group, we are stronger.


What else is there to know?
Although my offer does not directly compete with Willis' block partys as he is an old hand and trusted member here on the forum, I certainly did not want to start this project without his blessing. Willi is a long time and valued forum member and I respect the diligence and commitment he puts into his own Groupbuy Block Partys. That is why I contacted him beforehand and told him about my project and asked if he sees or even has any objections. In such a case I wouldn't have started it. Fortunately, Willi had nothing to complain and gave me so to speak green light for this. Thanks a bunch @Willi9974. I am fully aware that I do not yet have a special trust status in the forum, which is why there could always be justified doubts and concerns. But I don't want to leave it untried. If it doesn't succeed, then at least it was worth a try. On the other hand, I hope that the project will succeed and run regularly, simply because it's a very small risk of only 0.001 BTC and even the worst pessimist and doubter would be able to cope with that   I can't put 6.25 BTC in escrow services as you really can understand, I just don't have that amount. But to provide a little bit of trust I figured I could transparently show everything here in the thread anytime someone feels the need to see it. Although the blockchain already reveals pretty much everything publicly. But I could also post screenshots from the MRR portal if there is interest. Of course, again, these would just be screenshots that anyone could fake, but I'm offering this transparency anyway. Also, I will list all transactions of each participant here in the thread for each run, so that everyone can check that they were valid transactions and I was not faking the participant list. If I post excerpts from the MRR portal history, don't be surprised if our MRR account starts with 0.00000875 BTC starting balance. I had transferred 0.002 BTC from my own wallet privately to our MRR account once, so I can start a test run and set up the pools/servers etc. The trial run was successful, everything worked as expected. There are a few Satoshis left (=0.00000875 BTC) which are still in the account and will be used for our group during the first run. If we actually find our first block and all participants get their reward as expected, the trust will raise and the thread will probably stay alive for a long time which I hope so.

Conditions of participation / Procedure :

• If you want to participate, first check this thread on page 1 in post #2 to see if there is a free slot available for the next scheduled run.
• If there are free slots for the next round, then please first send the minimum stake of 0.001 BTC to our group bitcoin address at MRR:
  bc1qtyvxwhwctneje9zjvqkzvp6yqtnqc3xs0sf6vd
• and only then post the completed participation template here in the thread for registering. Pre-bookings (announcements only) without payment cannot be considered.
• Please fill-in the desired round in the participation template.
• It needs 3 confirmations for the amount sent to be credited to the MRR account.
• We use FIFO (First-In-First-Out) so simply said first come, first served   If someone has not made it for a run, simply queue and wait for the next run.
• Each run is executed sequentially and never concurrently, so one round after another.
• The payout address used on the soloCK pool is as follows. I assure with the signature that I am the owner of the keys and therefore the owner of the address:

• When participating, you have to enter your Bitcoin address to which you wish to receive the payout in case we solve a block. The payout amount will be paid out proportionally to the members of the corresponding round.
• The payout takes place at the earliest after 100 confirmed blocks from block hit, this is defined by default in the Bitcoin protocol. This means that if we get a block solved, the reward will be sent by the coinbase transaction to the above payout address and only after another 100 blocks can this amount be used to sent the winnings to the participants. This is equivalent to about 1 day. I would like to mention this for the sake of order, because some may not know.
• And last but not least, please vote for a hashrate in PH/s that you would prefer for the corresponding round. This will be voted and announced before the start which hashrate we will start for the respective round. The information in the following overview may vary depending on market prices, but offers an approximate guideline for our voting:

Chance calculation to hit a block in solo mining using different hashrate examples:

at   1 PH/s --> 1 in 267.342 per block or 1 in 1.857 per 24h
at 2.5 PH/s --> 1 in 106,937 per block or 1 in   743 per 24h
at   5 PH/s --> 1 in  53,468 per block or 1 in   371 per 24h
at  10 PH/s --> 1 in  26,734 per block or 1 in   186 per 24h
at  25 PH/s --> 1 in  10,694 per block or 1 in    74 per 24h
at  50 PH/s --> 1 in   5,347 per block or 1 in    37 per 24h


For this reason I personally favor higher hashrates and accept the shorter runtime for it. The chances are then simply better. However, luck remains luck

Participation Template to Fill Out and Post


So I will make the beginning as an example


Settlement and current status
I will always post the current status here in this thread under post #2 and I will also let you know as soon as the group account at MRR is fully loaded and ready to go. I manage all data about the group, the runs, the individual deposits with information like name, amount, TXIDs, etc. in a spreadsheet in Libreoffice Calc, so that I always have insight. There I also manage the individual rentals with corresponding details like start/end time, hashrate, costs, etc. I will try to keep the hard facts of each run clearly organized on post #2, so that there is no need to search laboriously in dozens of sub-pages of this thread. So all the info about the runs will be here on this thread in post #2.

This is the API URI for the live report of our runs:
This can be queried at any time by anyone (even with a mobile phone) and shows the status of the current run but also the historical runs. Anyone interested in learning to understand the meaning of these values and how they are interpreted, can read my HowTo (in german). The most important and entertaining values are "bestShare", "shares" and "bestEver". If you have any questions about this info page, just post them in the corresponding thread. Currently, of course, the link goes nowhere because no run has started yet and no historical data is available. As soon as we start our first run, the data will appear under this link. In addition, I will name the individual runs with the help of the worker names clearly and meaningfully.

For example, if we should start our first run with 2.5 PH/s and 19h runtime, then as suffix the worker name will be as follows:
.RUN001-2500THs-19h

For example, if the second run should start at 5 PH/s for 10h, then the workername will be:
.RUN002-5PHs-10h

As a result, we have a static and therefore fixed live report URL that does not change and can therefore be saved as a favorite in anyone's Internet browser on the PC or mobile phone to see at any time how the current run or the previous runs have gone. Based on the worker names, you can then distinguish and see the hashrate and duration used for the respective rounds.

Wishlist, Comments, Final Words
If there are any change requests or further ideas, I am of course all ears and open for feedback. Let's decide and vote together and I can gladly implement the results into the thread here by updating it. Finally, despite my due diligence, a short disclaimer: I cannot accept any liability for damage or loss of any kind, please only participate if you agree. Despite the obligatory disclaimer I still want to assure that I will manage this project to the best of my knowledge and conscience as I myself am very interested in a long-term and hopefully successful cooperation. In conclusion: In case of a block hit I would be very happy about a small donation as a thank you for the organizational administration effort, my address can be found in my profile

If there are any questions, just let me know. I look forward to an adventurous and hopefully successful experience. Let's go miners ! Let's mine those blocks . . .

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