Bitcoin Block Party || Group Run A

There's a rising buzz around these "Block Parties" where small groups of miners team up to boost their hashrate. I try to join Willi's Block Party whenever I can. It seems like more folks are eyeing bigger, riskier rewards now, and I'm thinking of starting my own Block Party to add to the mix when it makes sense. I hit up Willi before posting this, just to clarify that he’s not backing this. He’s cool with others starting their own Block Parties too. I’m not looking to poach anyone from Willi's events. If interest wanes and parties aren't filling up fast, I'll pause mine as long as his are still going strong. I want to keep supporting his Block Parties whenever I can. Just trying to provide another option when there’s high interest. I’ve joined Willi about ten times and was part of the group that found Block 712217. As I'm a new face here, I’ll give a quick intro. I'm a Computer Science teacher and work in educational tech on the east coast of the U.S. I've been Bitcoin mining for fun for over five years now, nothing too serious unless I rent some power from NiceHash. Here’s the scoop! Each Block Party will have 15 to 20 participants. You can pitch in as much BTC as you want, but the minimum contribution is 0.005₿. Once we hit a total, your contribution counts as your share, and if we hit a block, your percentage will match. Here’s how it works:

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

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.

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.

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.

Thanks.  You are on the list.

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.

Hi , Count me in for .005btc.

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

You are on the list. 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!

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.

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

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.

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

Hi, please count me also in for 0.01

You are on the list. You are on the list.

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

Great! You are on the list.