Topic: Lets Join Forces And combine our GH to make some Bitcoin (Read 1963 times)

Hey let's make a pool on a pool, I'm sure that'll earn us more coinz

DGM and PPS pools get a paid rate per share.
(of course anyone still running a PPS or PPS type pool is an idiot ...)

You are simply mixing up things:

You do not get payd per share. You get paid per shift based on the number of blocks found during that shift's "lifetime". It is quite simple actually: The reward for a shift is calculated by adding up the block reward for all blocks found during that shift's lifetime (let's assume 10 blocks were found resulting in ~25 BTC [before you start wondering: since at any point in time there are ten alive shifts the reward of a block is divided up amongst them of course]) dividing that by the total number of shares solved by ALL miners active during that shift's mining phase (let's assume 1,000,000,000, which leads to a reward per share of 0.000000025) and then multiplying that by the number of shares you provided(at 500 GH/s I'd assume about 42,000 which would result in a shift reward of 0.00105 BTC).

To cut that long story short: Since the reward you get is solely dependend on the number of blocks found and the fraction of totally found shares you provided. Combining Hashing power the way you propose yields absolutely zero gain over using that hashing power seperately in the same pool.

Another try to explain it simple: Let's talk solved shares instead of hashing power: Tim, John and Bob each are able to solve 10.000 shares per shift with their hashing power. Since the reward per share is calculated based on the found block rewards ot makes no difference wether they combine their hashing power or not, they still contribute only 30.000 shares together and thus get the exact same reward.

As was said earlier in the thread: the only possible use this could have is passing the auto payout minimum earlier, thus circumventing the quite large fee for manual withdrawels. But I am not sure if that is worth the hassle trusting the organizer (you) with collecting the BTCs and dividing them up amongst the participants of the operation.

because at best you have made a mistake in your assumptions

otherwise you are a scammer

i think it's a reasonable precaution to possibly prevent anyone else that fails at maths from taking you up on that offer

"Maths" is how they say "math" everywhere else in the world except the US. So there is nothing improper about it. In fact it's probably the US use of the word that would be considered incorrect. Your ignorance knows no limit!

Why not?  There still can be in here

This thread was over too soon.  We didn't get to discuss over unity or perpetual motion yet.

Goodbye then

wow, I get a negative trading score just because I wanted people to join me in mining. This forum is really out there. Oh and maths is improper English. I defiantly will be canceling my account on here after this.   

Let me get this straight -- you're saying that you believe mining with a higher hashrate actually increases the amount of BTC awarded *per share*?

No.

Using hypothetical numbers, let's say that you receive, on average, ~1 BTC per 100 GH/s per 24/hr. period.  This means that with 500GH/s you will receive, on average, ~5 BTC per 500GH/s per 24/hr. period.  The reward per share is not higher; you simply have a larger proportion of the pool's hashrate and are compensated according to that ratio.

The only purpose your proposal serves is to make it a hassle for miners to receive the same payout they would otherwise receive by being smart and staying the hell away from your deal.

Just thought I'd translate what you wrote into understandable English for anyone who doesn't quite follow this thread.
The above quote means:
"I fail at maths and want to steal your money"

yes, let us give him our hashes so he can earn more coins.
very logical indeed.
I want to keep my hashes though, so i respectfully decline.

Happy Easter!

I am mining with enough GH/s to make a payout.. I tested my theory and mined with 100GH/s and seen the payout, Then I mined with 500GH/s ...The payout per shares was much higher..


Thanks for your feedback.

dude.. are you seriously trying to convince the very person who wrote cgminer that "combining" mining power on btcguild would yield higher output than mining separately?

If I were you I'd leave it there and stop insisting on being an idiot..

This is pointless, there's nothing about BTC Guild which rewards faster users more for their shares than slower users.  If you are 100 GH/s you will make twice as much as 50 GH/s...as it should be.

The only thing I can possible imagine for making a sub-pool style mining account is if you're so slow you can't hit the minimum payout level...in which case you should probably stop trying to mine.


Looks like somebody is just trying to steal from others, especially considering the splitting of mined coins mentioned was purely: Coins / # of Users => Per user payment.

My recommendation: *AVOID*

Misleading.

It's true that "The more GH/s power you have during each shift the more shares you earn", but pooled mining doesn't give any one miner more hashing power. All pooled mining is about is reducing individual variance, not increased earnings.

This has scam written all over it.

I have no interest in being a thief, I have better character than that. If you feel that way than this is not for you.  
The more GH/s power you have during each shift the more shares you earn..  you get a bigger reward for each shift for more shares.
I am willing to share my contact info such as personal cellphone number with all interested miners.

 



Thanks