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Author Topic: Is it worth going solo?  (Read 1093 times)
yrtrnc
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September 16, 2012, 10:09:45 AM
 #1

So how about solo mining vs pool mining? Can you pls tell me from experience?

At what speeds is it worth solo mining? Is it safer? What are the pros cons?

Thanks in advance.

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stepkrav
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September 16, 2012, 10:56:57 AM
 #2

If you have money to buy some serious mining gear stuff, perhaps you could go solo. Take a look in other threads, there's plenty of info around.
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September 16, 2012, 11:10:19 AM
 #3

How serious? What speeds?
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September 16, 2012, 11:41:20 AM
 #4

https://bitcointalk.org/index.php?topic=106576.0 is one thread, but really it depends on how patient you can be and how lucky you are Smiley oh and ho long you can cover your power costs

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September 16, 2012, 12:02:02 PM
 #5

You'll be looking at probably over a couple of thousand GH/s

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September 16, 2012, 12:28:32 PM
 #6

Thank you!

Interesting thread.

So in your opinion, which is the best pool? Why?

Thanks
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September 16, 2012, 02:23:59 PM
 #7

If you are solo mining, I would use a no fee pool to keep the fees.

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September 16, 2012, 04:21:05 PM
 #8

https://bitcointalk.org/index.php?topic=104664.0 <- Mining Pools List


from another thread,similar topic, sorry for just copy/paste and not changing for you Smiley

<ozbot> At 1000 MH/s, you should earn 0.37335207 BTC/day on average (0.01555634 BTC/hr)
this is influenced by luck - your mining software
the fee the pool you mine on charges
the stability and uptime of the pool you choose
whether the pool you choose merge mines and/or pays out transaction fees

there is no simple answer, do some research, find a pool and a payout method that suit you Smiley

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September 16, 2012, 04:21:57 PM
 #9

If you are solo mining, I would use a no fee pool to keep the fees.

Many use slush's pool, it's fairly popular.

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September 16, 2012, 05:13:40 PM
 #10

Eclipse mining consortium has no fees (or optional) also.  There are still some others about.

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September 16, 2012, 06:27:46 PM
 #11

FYI, here is the current data from my google docs chart that I set up to calculate stuff. A block is currently 50BTC:
These are based on probability.

GH/s to solve 1 block/hour   3,214   
GH/s to solve 1 block/day   134   
GH/s to solve 1 block/week   19   
GH/s to solve 1 block/month   4   30-day month

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September 16, 2012, 07:51:26 PM
 #12

If you are solo mining, I would use a no fee pool to keep the fees.

Many use slush's pool, it's fairly popular.
Slush is nice but it has a 2% fee.
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September 16, 2012, 08:10:55 PM
 #13

My understanding was that overtime it should be about the same. Pools just give you a steady stream of smaller payouts. It's a service you will end up paying for in the end though.

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September 16, 2012, 08:12:50 PM
 #14

Yes in the end it's the same but if you have low hashing power, then it can take months or more until you find a block
Yes, if your computing power is so low then with a pool you would make only  a handful of btc in these months but well, better than nothing.
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September 16, 2012, 09:34:32 PM
 #15

Quote
GH/s to solve 1 block/hour   3,214   
GH/s to solve 1 block/day   134   
GH/s to solve 1 block/week   19   
GH/s to solve 1 block/month   4   30-day month

I suspect, these numbers will go up considerably with the introduction of ASIC's right?
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September 16, 2012, 09:47:14 PM
 #16

Yes. But you can just use a calculator for that

http://www.alloscomp.com/bitcoin/calculator

consider that 1 block=50BTC

So if, for example, it says 1 btc per day, you know that, on average you need 50 days for a block. On average. This means that you can find a block today, tomorrow, after 40 days, after 100 or whatelse, BUT in the long run on average it will be 1 block every 50day. So if you mine for 500days on average you will find 10 blocks.

Just remake the compute when difficulty change
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September 17, 2012, 01:48:25 AM
 #17

Yes. But you can just use a calculator for that

http://www.alloscomp.com/bitcoin/calculator

consider that 1 block=50BTC

So if, for example, it says 1 btc per day, you know that, on average you need 50 days for a block. On average. This means that you can find a block today, tomorrow, after 40 days, after 100 or whatelse, BUT in the long run on average it will be 1 block every 50day. So if you mine for 500days on average you will find 10 blocks.

Just remake the compute when difficulty change

I'm not intimately familiar with the stats, but I suspect there is a VERY high variance in solo mining. IE. You might mine for 500 days and never even solve a block, or you may solve 10 blocks in your first 50 days. Who knows? The only way to cut down the crazy highs and lows of solo mining would be to have a MASSIVE rig.
yrtrnc
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September 17, 2012, 05:40:12 PM
 #18

So it sound like the best thing to do is go pooling!

Do I go for the biggest and fastest or?

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September 17, 2012, 06:12:18 PM
 #19

Slush is nice but it has a 2% fee.

Every time I've gone away from slush to another pool, I've been burned with downtime or even just delays in the long poll. You get what you pay for.
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