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Title: When is it better to solo mine than to be in a pool? Post by: eon89 on January 07, 2014, 12:42:38 AM Wondering.
Title: Re: When is it better to solo mine than to be in a pool? Post by: HashHound on January 07, 2014, 12:50:07 AM It depends on your hash rate, and the network difficulty of the coin you're mining.
Title: Re: When is it better to solo mine than to be in a pool? Post by: eon89 on January 07, 2014, 12:56:01 AM It depends on your hash rate, and the network difficulty of the coin you're mining. Mine personally sucks 250k. What difficulty should I solo mine over pool mine at? Title: Re: When is it better to solo mine than to be in a pool? Post by: nastybit on January 07, 2014, 12:57:57 AM 250kh/s is really low nowadays, difficulty wise it should be of an almost dead coin.
Mine on a pool, do you have any concern? Title: Re: When is it better to solo mine than to be in a pool? Post by: eon89 on January 07, 2014, 01:00:07 AM 250kh/s is really low nowadays, difficulty wise it should be of an almost dead coin. Mine on a pool, do you have any concern? I was wondering since I decided to try solo mining a coin with 25 MH/s net hash rate and I appeared to be doing better than in a pool. Title: Re: When is it better to solo mine than to be in a pool? Post by: geokilla on January 07, 2014, 01:11:10 AM Is there a guide on solo mine? I can't get solo mining esportsmonies to work even though I followed a guide..
Title: Re: When is it better to solo mine than to be in a pool? Post by: nastybit on January 07, 2014, 01:13:16 AM 250kh/s is really low nowadays, difficulty wise it should be of an almost dead coin. Mine on a pool, do you have any concern? I was wondering since I decided to try solo mining a coin with 25 MH/s net hash rate and I appeared to be doing better than in a pool. Leave it for a day and see how many coins you get and compare it with the pool. It's all about luck, you might find many blocks in an hour and nothing for a few hours and this is where the pool helps to normalize payments Title: Re: When is it better to solo mine than to be in a pool? Post by: tokyoghetto on January 07, 2014, 01:13:35 AM in the first few moments when a new scam coin launches. instamine then dump when it hits an exchange.
Title: Re: When is it better to solo mine than to be in a pool? Post by: bonecoin on January 07, 2014, 01:26:52 AM For the vast majority of non-commercial miners solo mining will be the most reliable means of acquiring cryptocurrency. I suggest you plug in your hash rate and coin you are mining into one of the mining calculators. The calculator will tell you the average generation time for a block. If that amount of time is more than you would like to wait for a reward, you would be better using a pool.
This is from a litecoin mining calculator: Litecoin Mining Calculator https://www.litecoinpool.org/calc (https://www.litecoinpool.org/calc) Hash rate: 25000kH/s (25 MH/s) Expected Rewards 24 hours 7.17019409 LTC 208.22 USD 7 days 50.19135864 LTC 1457.56 USD 30 days 215.10582275 LTC 6246.67 USD Solo Mining Stats Expected Time per Block 6 days 16 hours Probability of a Block in 1 day 13.88% Probability of a Block in 2 days 25.83% Probability of a Block in 3 days 36.12% Probability of a Block in 7 days 64.86% Probability of a Block in 14 days 87.65% Probability of a Block in 30 days 98.87% As you can see, solo mining would take 6 days on average to find a block at 25 MH/s. That is a reasonable gamble. You could do well either in a pool or solo. At 250 kH/s you would be unlikely to ever find a block solo since average block generation time is almost 2 years and the difficulty constantly increases over time. Title: Re: When is it better to solo mine than to be in a pool? Post by: HashHound on January 07, 2014, 01:37:32 AM Calculators don't really take in to account the fact that difficulty may be going up or down at the time of calculation.... Pools definitely generate a more consistent amount of coins.
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