Is it worth going solo?

[yrtrnc]

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.

Long live bitcoin

[1714111178]

1714111178

[1714111178]

1714111178

[stepkrav]

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.

[yrtrnc]

How serious? What speeds?

[Graet]

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 oh and ho long you can cover your power costs

[warlordluke]

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

[yrtrnc]

Thank you!

Interesting thread.

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

Thanks

[MtGoxTraderBot]

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

[Graet]

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

<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

[Zack]

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.

[Monkey1]

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

[mokahless]

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

[Gabi]

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.

[Malophor]

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.

[Gabi]

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.

[yrtrnc]

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?

[Gabi]

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

[nameface]

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]

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

Do I go for the biggest and fastest or?

[Fjordbit]

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.