Bitcoin Forum

Came across this site was wanting to solo mine my s1 there if I can can ever get it running(long story)they claim to give the founder of a block the full 25 minus transaction fees for pool as well they are merged mining namecoin and keeping any name coin found for keeping pool up and running

If you are talking about the solo pool set up by Ozcoin, They are legit.

He's not, he's talking about this:
http://bitsolo.net/

Oh, i thought he meant solopool.net. This is why people need to be clear about what they are asking. We can't read minds.

I'm glad you answered it gives me another option to look at.

So both of these pools are legit? Has anyone tried any of them?

http://bitsolo.net/

http://solopool.net/

Has anyone tried it? I know a few persons using them.
Has anyone found a block yet? Guess not... :D

I'm using solopool.net with a really low hash rate, so I haven't found a block yet.  But it seems to be working reliably.  It's really nice to be able to point my BE's at something and forget about it.

I went through bitsolo.net FAQ. They say they have found ZERO Bitcoin blocks until now.
They're merge-mining Namecoin and have found ONE Namecoin block.

And? That is perfectly normal, most people on there won't be huge farms anyway, just probably a dude with an Antminer U2 trying out his luck.

Yes you are right!
Not all the pools have a mining farm and because it they didn't find a block yet!

it also says they are keeping the namcoins for pool fees.

What's wrong with that? Don't see any problem at all.

no just including the rest of the info

Hi !

i really HOPE its not Scam

Guess why ?

look at this :

https://www.dropbox.com/s/bs842b73s7ovnoa/bitsolo.jpg

Bitcoinchain.info said nothing
and the Homepage of Bitsolo.net said nothing

OK, i wait 6 h


Hope its real ;-)

Greetings Glen

There is a known issue i cgminer / sgminer and other forks where it will report finding a block when actually block has not been found by you.
Search the forum and you'll see this happening with many people. It is a known issue, nothing to do with pool scam.

You can verify if you've found a block by checking if your 'Best Share' is equal or greater than current difficulty, which is not the case in your screenshot.

Correct. Update to the latest CGMiner. Also, it's blockchain.info, not bitcoinchain.info.

is it just me - or is this concept sort of dumb  ???

if you want to solo-mine = screw you pool of any kind

If you want to solo-mine = run a copy of bitcoind with SETGENERATE=true and have your hashrate mine away.  You keep the coins, YOU WIN!  

Using ANYONE or ANY service =/= solo mining.  You're begging to have your time wasted and your coins stolen, period.  <<< if it is truly your intention to try your luck at solo mining that is.  Just don't be lazy and trust someone, diy the damn thing.

Newbies have no idea how to use setgenerate=true.

Damned . I have to learn the hard session ;-)

Glen

"SETGENERATE=true" is for CPU mining with the Bitcoin client.  It no longer does anything as the client no longer CPU mines.

Also, they have to point their asics at the bitcoind. So they would have to use cgminer or bfgminer anyway.

I read you can't solo mine with the antminer s1 which is why I looked into this solo pool stuff

I think solo pools are a great tool.

1.  They use the Stratum Protocol.

2.  They propagate blocks to the network faster than ones Bitcoin client would.

3.  They deal with virus signatures in the block chain so that you don't need to futz with your AV settings and risk opening your system to vulnerabilities.

4.  You don't need to download the block chain on your own system.  Which is real important if your using one of those Pi thingies.

But that being said, why can't you solo mine with an Antminer?

Yeah? I thought you could set up a stratum proxy and point it at bitcoin-qt?

Nope.  Bitcoin-Qt uses Getwork or GBT protocols, not Stratum.

honestly I don't remember what i read anymore other than not been being able to solo mine the s1, but feel free to share any info or instructions on solo mining thru the wallet with ant miner s1

Just put your Bitcoin-QT in server mode and point CGMiner at your localhost address TCP Port 8332.  There are instructions in the CGMiner readme.

ok ill have a boo at it see what goes down

Does the Antminer run from a PC or does it have CGMiner built in?

built in

Oh, if it's an older version that doesn't support GBT for Solo Mining that may be why it was said it can't be done.  But give it a whirl and see.

how would you know if the bit coin server node was feeding the ants work fast enough ? All I get from cgminer is new block notifications from the network . There is ZERO way to tell if work is getting done or is stalled. even if I run the server in diagnostics mode, the output never really shows anything except new blocks being created on the network and when blocks are solved in the network …

I am hashing at bitsolo right now.  The main reason I am using them instead of just straight solo mining is because I can't get my S1's to solo mine for shit.
I have BE Cubes that work fine but the S1's have proven to be very difficult. 

I had a question when I first connected to the pool and the operator sent me a reply via email.  I cannot vouch for him but obviously I am believing that if I find a block the coins will go to my wallet.

If anyone has any other info regarding the pool or operator I would be glad to hear from you.

Solo mining is really nothing more then using your machine as a lottery ticket unless you have a significant portion of the network hashrate.

what  r the odds?

If you have a miner that has 3.1 TH/s of capacity then it will likely generate one block every 14 days. If that miner has less then 100% luck then the difficulty would increase, and further decreasing the average time between blocks, making it take longer, on average to find a block. These are not specific odds but should show why solo mining is not advisable.

I think to effectively solo mine you have to have enough hash power to be able to squeeze at least one or two blocks in between difficulty increases (10 days) otherwise you will just be chasing your tail as difficulty increases will just spin out the time you take to find a block faster than you can find them. (e.g. 14 days)

I don't know where you got your numbers, but it will take you considerably longer than 14 days to solo-mine a block.  Math proves this:
Could you potentially find a block in 14 days?  Sure... you could also find a block after 10 years.

I've got a few %ages of my hashrate (80 gh) pointint to solomine. 22 years is the average time to find. This every week I have 1 in 1000 shot of making $12500. I'll take it.

It is a very bad idea to try to solo mine in any way if you do not have sufficient hashpower to find at least one block every two weeks. This is a absolute minimum and realistically you should not attempt to solo mine if you do not expect to find one block per day based on current difficulty.

Otherwise you are likely simply giving money to your electric company and treating your miner as a lottery ticket.

wrong so very wrong but not completely wrong..  a lottery ticket pays terrible odds.   3 digit number should pay 1000 to 1 most lottery 3 digit numbers pay at 500 to 1.

if you are using any gear at 1.6 watts per gh  it is like getting 1060 to 1   on a 3 digit number  .   pretty accurate estimate for today.

the problem is you use 10 gh or 30 gh and  it is like only having 1 to 3 numbers out of the 1000 numbers so most likely you lose.

most of us can't buy enough tickets and pool with many other ticket holders  and since the overall payout is 1200 to 1 on a 1000 to one shot we all profit.


Any one that says playing 10gh  in solo mining is like playing a lottery ticket is missing the fact  that the solo mining pays at a much higher rate then a lottery ticket.

A truly huge fact  that  is why a good clean easy to use solo pool should be part of every miners pools.  Especially a smaller miner.

 I mine 10gh   at solopool.net  .  I never think it will  hit a block.  but It costs under 16 watts to do this.

  which means every day for 6 cents of power I can hit blocks.  

  Show me where for 6 cents  getting a 15000 prize (600 x 25 = 15000) is possible.   todays odds of 1 block found for me = about 67,000 to one.

I spent 6 cents for that chance      since 67,000 x 6 cents =  about 4000 usd .

  my payoff should be  only 4k if I hit the block  my payoff would be around 15000 usd.  

 so 4000 usd  vs 15000 usd

  seems simple  solo mine is better.  well you have to hit the block for the benefit of the higher payoff.

 I also was a little bit misleading.  

 Since I said I spent 6 cents   to have the chance at the blocks  true,  but if I pool mined the 10gh

 I would have collected about 22 cents  so my real money spent is :

22 cents a day for a shot at 15000 usd.

 that comes to a 68,181 to one payoff for something that should pay about 67,000



No lottery ticket overpays like that.

good analysis. A lottery ticket would be if you used your gpu.

 

yes you would be playing a 4 digit number and getting around 2000 to one .

 actually worse but you get the idea.

merged pools are like 1000 guys playing a number  000 to 999  and agreeing to split the 1100 payoff.  thus a guarantee of a profit .


right now if your miner does pretty low watts it is okay to toss some hash at a solo pool.

  BTW supposedly someone hit a block at bitsolo.net    


  Right now I felt a bit lucky  and I am running 210gh at bitsolo.net.

  I am spending 250watts to do it.  I will do this until diff adjusts in 4 or 5 days.    my cost will be 6kwatts a day or about 1 dollar a day that is 5 bucks.  I will miss about 4.46 a day in earnings  that is 22 usd plus 5 usd total of 27 dollars spent  for a chance at 1 or more blocks in the next 5 days.  each day I do this for

the next  5 days my chance of 1 block  is about 3200 to 1

 5 days would be 640 to one chance of a block   I pay 27 dollars         so 640 x 27 = 17280  would be exactly even payoff .   right now a block is around 14500


so you say  14500 out of 17280 is not   like 1100 to one for a 1000 to one 3 digit number  so I am wrong.

Well I could hit 2  or 3  or 4   or many more blocks    ………  

640 to 1 for one block   1280 to one for 2 blocks    

 that is what makes the math not so bad to do solo mining.  every once in a while with gear that is better then the power it spends. 


 A   usb stick is okay if it does 1.8gh for 3 watts or so.

 So a fury stick or an antminer u-1 is fine to use.

  a be is like getting bad odds
  a gpu is really bad.

 An undervolted/underclocked  antminer s-1 for all the fall and winter  as long as you want that heat  would most likely be okay on a statistical basis.

That  does not mean you hit a block but the math says it is okay.  Since you get some heat out of the deal it is not such a bad move.

  S-1s would actually not be so bad.  Especially if fiat goes up a bit.

I have 6 r-boxes and 10 usb sticks  hash is 210gh power is 260 watts

They found one the other day:
https://twitter.com/BitSolo1
:)

 I did some research and it was paid   to the btc address that supposedly hit the block.

  Gave me enough confidence to point about 210gh at it for the next 2 or 3 days.

Had 2Ths there from June 5th to the 18th. 
lol

They are now at 80,000 gh or 80 th.  One miner is sending 62 th


http://imagizer.imageshack.us/v2/1280x1024q90/853/gco7o.png



I am sending 6 r-boxes and some fury sticks at it.

http://imagizer.imageshack.us/v2/1280x1024q90/840/u4j.png

the issue isn't so much that the found block was paid it is more that the chances of your miner finding a block are so low that you are essentially wasting money on electricity

its called gambling and I'm in on the note that a block was paid out!

New block detected on network before pool notification

Any takers as to what this means in cgminer version 4.0.1?

Yes it would be gambling and yes it has been determined that some solo mining pools have paid out, but your chances are so small that it is just not realistic to believe that you could "win" (find a block)

any have any idea what this statement means from cgminer?
New block detected on network before pool notification

anybody know who is behind bitsolo.net ?