Bitcoin Forum

hi all...

i know the question is asked a lot of times but here is more specific...

i got 70 ths own hasing power with real cheap electricity and think about to build my own (privat) pool with a friend - he´s got 30 ths right now and.
what you think about it ? is it possible at the actual diff to be succesful with 100 ths ?

my miners are running on nicehash & bitaffilate net right now ...

whats your meaning for it ?

tnx  ;)

100TH would put you at about .03% of the network, meaning on average you could expect .03% of the blocks. That means about half a block per diffchange. So one block a month. If the diff starts going up from new hardware introduced, that gets longer. And that's just a time average; with actual variance, you could find a block inside of an hour or it could be six months. Eligius just had a 600% variance block and that's on 8-9PH, two orders of magnitude more hashpower than you're looking at. If you can afford to run your hardware for a couple months without expecting a payout, sure try solo-mining. But I wouldn't advise it.

calculator say 1 bitcoin a day on average, so a block in 25 days on average

i would try it, everything that can get you a block in less than a month it's worth trying

Um... huh?

He's got anywhere between 70 and 100 TH/s of gear available and wants to know if he should solo mine or stick to a pool.  Assuming he was going to buy that same hashing power at 1BTC / 1TH/s, that means he's putting out 100BTC up front just to do so to earn 1.06BTC a day.  Without even factoring in the maintenance charges your typical cloud mining provider charges, he's well over a week's ROI.

I'm not really sure where you got your numbers...

There's one thing you all appear to be overlooking. Solo mining doesn't have a daily payout. Solo mining, you either find a block or you don't, so your payments come in 25BTC chunks scattered randomly across time. It's not unheard of for 800% variance, which at 25 days per block means he could be waiting 200 days for a block, paying his bills out of pocket until then. He could get lucky and find one on the first day, but that kind of luck is stupid to bet on. In a long-term average he'd find a block every 25 days (plus diffchanges) but until that block is found he foots the entire bill without ANY return. I wouldn't advise anyone to solo mine without about four times that hashrate. Even at 400% variance you get a payout within a month, which can help with that month's bills.

thats my problem !
i dont know whats better... the machines are paid and are still working but every few day´s a little payout will be fine... a month without is a bad thing ...

I think you've answered your own question, then.  Assuming just your own 70TH/s, you'd expect that to take just over 33 days to find a block at current difficulty.  Remember, too, that difficulty will not remain static during that timeframe.  Since you don't want to wait over 30 days, you probably don't want to be solo mining.

so lets see to geht more ths for a testdrive ;)
no ! just a joke :P


tnx for answers

is there a good alternate to nicehash ? they p**s me off with permanent DoS attacks and unstable servers ...
bitaffilate net take mostly long time to pay - such as eligius
bitminter is to small and takes also long time, and with cex i´m done - if you tell the truth in the chat they kick & ban you :D
btc guild is ... naaah - i dont like ...

the best thing on nicehash is that they pay every 6 hours...

You can look here. https://blockchain.info/pools Maybe you will see a pool you like. Have you ever seen slush's pool?

you can use a solo pool like ck's

https://bitcointalk.org/index.php?topic=763510.0


if me and my best friend had 100th of paid for miners with cheap power.  we would solo mine the 1st and second day of each month at ck's pool

then we would use west-nice hash on top at a premium price say p=0.0115

then second choice would be
ban for 30th
https://bitcointalk.org/index.php?topic=854368.0


discus fish for 70 th
https://bitcointalk.org/index.php?topic=700411.0


for third choice I would flip discus fish with ban

Yeah I had a buddy with a few GH back in the GPU days that said he solo mined too long and hit a bad luck streak really brought down what he should have had.  I generally did PPS back in the GPU days, then PPLNS for ASICs but after redoing the farm recently and seeing back luck could really drop the average payback I went PPS again and I have to admit discus fish is all I am going to roll until these things ROI - and that is tough these days!

Yeah, PPS is great because it puts all expense of losing streaks on the pool operators and it's really easy to exploit.

I would say try it if your electricity is genuinely cheap. But definitely keep in mind of the risks you're taking, but there would be rewards for you risks as well(If you're lucky). Good luck mining!

thanks for your recommendations ;)

If you are willing to gamble and maybe not turn a profit then you can solo mine :)

If he gets a block in an average or slightly longer than average time, that will be a soul destroying month of waiting with absolutely no return!
I personally wouldn't mine solo with such long expected gaps between finding blocks, I would be too paranoid that I had a setting wrong, or something wasn't working etc.

Maybe mine in a pool for a while, then when you are happy enough that everything is working perfectly, switch to solo mining, but I wouldn't be able to do it, but then I am not the luckiest person in the world, so would expect to take over a month before getting a block.