Hey folks,
I'm looking to form a small crew of around 10-15 miners to pool our hash power on solo.ckpool.org. The concept is pretty straightforward: we all mine to a single Bitcoin address, and whenever we successfully mine a block, we evenly distribute the net reward among all members, no matter how much hash rate each of us contributes. This helps to lessen the variance we face compared to solo mining while keeping everything simple.
We can set up a private Telegram chat to keep everyone informed and updated about everything. When we find a block, we split the rewards evenly.
Here's a quick breakdown of potential splits (based on current network stats):
Current block reward: 3.125 BTC
Average transaction fees per block: ~0.029 BTC
Total average reward: ~3.154 BTC
After a 2% fee: ~3.091 BTC net
For 10 members: ~0.309 BTC each (around $26,000 USD at current prices)
For 15 members: ~0.206 BTC each (about $17,400 USD at current prices)
Keep in mind, this is per block mined, and timing will depend on our combined hash rate. I’m hoping for members who have at least 50-100 TH/s to make it worth it, but I’m open to chatting about it.
Also, rewards will be adjusted based on price changes over time, so it could be more or less when we find a block.
If you're interested, just drop your Telegram username and hash rate in the replies. I’m currently hashing between 40-52 TH/S and I’m totally fine with sharing block rewards with others. Let’s hope we all have a fantastic holiday season!
-LoshiBTC
A good question is how the rewards will be split without trusting anyone? You can either run the ckpool server where miners will connect and mine to, but the coinbase reward will be sent to one single-sig address, and then you'll be trusted to split the 3.125 BTC evenly. Perhaps the miners could mine to a multi-sig address you've all agreed to, or does ckpool mining software allow the coinbase reward to be paid in multiple addresses? I think the latter would be the most preferable, as long as miners are certain they're all mining to the same block template.
That might provide a good guide: https://coinguides.org/electrum-multisig-wallet/. It's a little complicated if the other miners haven't ever done it, before. Essentially, you all create a new wallet (seed phrase), share your master public keys and decide how many cosigners are enough to spend from the wallet; for example, 9-of-10 means that 9 signatures are required (out of 10) to spend from an address. If you all mine to one address, and you solve a block, one miner can't just take them and leave.
I think instead of complicating things with multi-sig, you should just have 10 coinbase outputs. The question remains: how will the participants verify that they're actually mining on a block template with their address included in coinbase transaction?
it is very hard to manage a solo run.
before you try I have to ask do you know the tax law in your country?
I am USA based. I stopped doin these because the law in USA said if I send more than 600 usd in any coin I need full kyc . Or I am a criminal.
Once blocks got big in usd price this law got passed. I decided to not run a small group.
Next is you need to have people have faith in you as 88,000x3.10= 272,800 usd which many would consider stealing.
If you set one up I wish you good luck.
oh a multi sig wallet does not fix the issue.
most of them are 3 sig to 5 sig
so if 10 join and you need 3 sig's to open collusion is an issue.
if that's how multi sig's work then it might be a problem then and canada and where I am in canada I don't have to pay as much tax's as everyone else because of my background
A mining lottery must remain a mining lottery, otherwise it will become classic mining. At the very least, there needs to be a guarantor who will fairly pay all mining participants their shares tax-free.