Yes it IS possible. But it's dependant on the MoBo, the PSU or the FC as to the complexity of the setup.
If you're trying to jump to the MoBo (like mine is mostly set up) you have to remember you can only daisy up to 3 or 4 fans. I only do 2. I actually think that 3 is pushing the limits of what the MoBo will tolerate.
PSU is only limited by the amount of connections available so it's as near to perfect as you can get. However that requires better cable management skills. If you're a plug it in and forget it kind of person, PSU powered probably isn't for you.
FCs' are hindered only by the amount of wattage per connection and the amount of connections it has. If you want more than 3 fans per connection (give or take depending on the Controller and the wattage needs of the fans) then I suggest going straight PSU.
High end MoBos' such as the Crosshair IV should be able to control the fans based on applied temp settings in the BIOS. So this is how I went. I planned to get a FC and still might, but it's not as critical as I once thought it was.
Originally Posted by blue-cat
I'm just wondering whether it would be possible to connect the 4 fans wires together and have them all going into one 3 pin to make the connection neater and easier.
Would this effect the performance. I can never remember about voltages in series and parallel from physics in school.