mining solo

[traficante82]

Has anyone tried to mine solo LYRA2Z algo, particularly IFX, what's the profit comparing to pool's mining?

[vite]

IFX have live chat support. Join their Telegram channel to get all the information you need. Find their official thread below.

https://bitcointalk.org/index.php?topic=2914468.0

[leowonderful]

The profitability of solomining largely depends on your hashrate, and at the very least you'll face increased variance if you try to solomine (which basically means you might have periods of very long good or bad luck, and variance decreases as hashrate increases). In a perfect world you'd eventually make the same amount solomining as pool mining, but typically it doesn't work like that as variance really can kill solomining sometimes.

[butka]

I don't really think solo mining is possible with LYRA2z, unless you are going to mine a new (relatively unknown) coin with low network hash-rate. And if you happen to find such a coin, your strategy will work only until someone with a lot of hash rate has discovered it and joined the race. At that point the only meaningful thing to do would be joining a pool. The attempt to solo-mine a well established (not necessarily just LYRA2z) coin is totally impractical, even if we suppose that this algo hasn't been ASIC-ed by now.

[eruman34]

I don't really think solo mining is possible with LYRA2z, unless you are going to mine a new (relatively unknown) coin with low network hash-rate. And if you happen to find such a coin, your strategy will work only until someone with a lot of hash rate has discovered it and joined the race. At that point the only meaningful thing to do would be joining a pool. The attempt to solo-mine a well established (not necessarily just LYRA2z) coin is totally impractical, even if we suppose that this algo hasn't been ASIC-ed by now.

If you have enough power then why not? Even Han Solo...

[Doterti]

I don't really think solo mining is possible with LYRA2z, unless you are going to mine a new (relatively unknown) coin with low network hash-rate. And if you happen to find such a coin, your strategy will work only until someone with a lot of hash rate has discovered it and joined the race. At that point the only meaningful thing to do would be joining a pool. The attempt to solo-mine a well established (not necessarily just LYRA2z) coin is totally impractical, even if we suppose that this algo hasn't been ASIC-ed by now.

If you have enough power then why not? Even Han Solo...

Well Solo Mining is a good thing because if you are in a full time job for this industry so then there is a chance to get a high bitcoin or a low bitcoin but still if you are going to do solo mining, it is kinda hard because you need some tools to help you out of it especially in your security so that you will be safe from the hackers or bitcoin stealer.

[edwardceng]

indeed there are miners do it solo mining but with many devices, high hash rate and should has patience in waiting to solved block, but I think more profit when joining the Pool.

[Geraldo]

It depends on how much your hashing speed you have. If you have at least 10% of global Hashrate, you may better with solo mining than pooled (-it also depends on block reward and block time). If you have more than 25% of Global Hashrate, you've better to do solo mining.

It means you need to collect some coin technical info, so you can calculate using your own way to make an estimation profit (comparing between solo and pooled mining), Then what kind info you need?

block time,
block reward,
Diff & Global Hashrate,
and another technical info that you can find (X info).

Implement that info into the current coin that you were asking (IFX), so you were able to calculate the estimation, which was better between pooled or solo.

Solo mining was possible a few years ago. But nowadays it's not as profitable as it was before.

Which coin are you talking about?

[Midcrypto]

Has anyone tried to mine solo LYRA2Z algo, particularly IFX, what's the profit comparing to pool's mining?

Solo Mining in general can be VERY profitable. However the biggest factor to determine if it would be more profitable than pool mining has everything to do with your hashrate compared to the average. A good measuring stick is if your total hashrate is faster than 40-50% of miners. If this is the case it is probably worth giving solo mining a shot. We regularly earn 2-3x as many coins solo mining vs pool mining, however it is not applicable to every algorithm and coin.

Test it out for a couple weeks to a month and see how it goes. Unfortunately there is a luck factor involved that can majority affect the outcome but in the long run it will average out.

[Geraldo]

Has anyone tried to mine solo LYRA2Z algo, particularly IFX, what's the profit comparing to pool's mining?

A good measuring stick is if your total hashrate is faster than 40-50% of miners.

With 40-50% of Global Hashrate (-NetHash), there is no other option than solo mining. I mean solo mining will be (more..more) better than pooled mining. More than that, we can do 51% attach, right? 

But it's not our guarantee to making a good profit, and it will depend on the amount of block reward and coin prices (-if this coin has listed on the market) comparing to the operational cost. (-if the context is "profit")