Bitcoin Forum

Hello there.

I would like to know some basic things about mining world.

I've been mining bitcoins and altcoins for more than a year now, but as I'm not a programmer, the only more tecnical thing that I do in informatics is extreme Overclock, some technical parts are just completly "foreign" for me, if you know what I mean.

So I would really like some help from you people who understands perfectly how things works on mining world, if I'm not asking for too much :)

Here it goes:

1st - What is a "faucet" and for what does it serves?

2nd - What's the diference between mining on a stratum or getwork protocol pool, and a P2Pool? What is the more profitable? My hashrate for bitcoins is 180GH/s and for altcoins is 2.7Mh/s

3rd - Are there any advantages on solo mining vs pool or p2pool mining?

These are the current 3 first question, but I'll ask more as soon as someone can help me understand this :)

Thanks a lot for all your attention!

Merry christmas for everyone.

André Mesquita

Anyone? :(

Wow didn't knew that people here were so "open" to help :(

I'm new too, but "Faucet" and "pool" isn't the same thing? well, let's wait for a person that knows about it...

I've the same questions too.

"1st - What is a "faucet" and for what does it serves?"

My limited understanding is mostly used to advertise other services, gambling, games ads ect, free coins being the hook.
Not something I would look into.

"2nd - What's the diference between mining on a stratum or getwork protocol pool, and a P2Pool? What is the more profitable? My hashrate for bitcoins is 180GH/s and for altcoins is 2.7Mh/s"

Getwork is obsolete, do not use it. At All. Old and used by Bots to spam networks now.

The reason this pool is here is to help you gain knowlege of how this works, If your miner is supported I would recomend this BitMiner client to get started.

I am looking forward to getting to 1gh, You are starting at 30 ? good for you, stay away from altcoins at that speed Bitcoins will pay if you are patient.

If you must collect Alt coins (in case they skyrocket) 5 each held, would at least make you not kick your yourself
Later on when they go up :) BitCoin @ 10 bucks a coin is long gone, and I missed all that.

"3rd - Are there any advantages on solo mining vs pool or p2pool mining?"

Dunno, but you need alot 350+ gh to even try solo, prolly more.

@OP It would be quite a bit slower to BTC Mining therefore a bit slower to gain more.

A faucet is a site that gives out tiny amounts of a coin for free. They make money from advertising and newbs can get their first little bits of coins, but they're not really worth the time to be honest.

Thank you for all the answers so far.

Now, what I really need to know is, from your experience, what do you think of P2pools compared with regular pools?

Is it worth a try? Will I have better incoming rate, or at least more stable incaming per day rate? Because in some pools I find mining certain coins a complete waste of electricity. I mean, for example, for DOGE coin, there are some pools that in one complete day, with my 2.1Mh/s dedicated only for DOGE (the rest stays for LTC), it should get me around 49k of DOGE, but instead, I get about... 5k sometimes, sometimes ... 25k... other days 8k... And this is why I ask, because I don't understand why this happens.

Thank you for all the help.

Happy new year!