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