Mining Pools Quote Adam Back

[BlackJacky]

Guys, Ive find a quote from Adam Back regarding mining pools:

There is also one more factor on mining protocols. So many people use pools because it’s – you know,
it’s a very large hashrate, and so you get low latency. And so long frequencies between winning blocks
and high variance. And such that there is a variance, they use that.

What does he mean with that?

Thx in davance

[franky1]

the chance of getting a block is very very low when doing it alone. so it makes sense to join together to increase your chance and take a share of the winnings regularly. rather then do it alone and wait forever for a one time win

[BlackJacky]

the chance of getting a block is very very low when doing it alone. so it makes sense to join together to increase your chance and take a share of the winnings regularly. rather then do it alone and wait forever for a one time win

Thx Franky!!!

[hv_]

Oh - thought that was about last VIABTC communication ... there you can find also some quotings ...