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Poll
Question: Mining Solo or Mining Pool? (once ASIC products are delivered)
I will stay Solo Mining - 8 (10.7%)
I will stay Pool Mining - 45 (60%)
I will switch from Solo Mining to Pool Mining - 1 (1.3%)
I will switch from Pool Mining to Solo Mining - 9 (12%)
I am new and will begin Solo Mining (n00b) - 4 (5.3%)
I am new and will begin Pool Mining (n00b) - 8 (10.7%)
Total Voters: 75

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Author Topic: [POLL] Mining Solo or Mining Pool? (once ASIC products are delivered)  (Read 5283 times)
Odi
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October 29, 2012, 05:58:42 PM
 #21

So long as there are a sufficient number of pools present, it seems as though there is no reason not to take that route other than fees or pool performance problems.

Yeah it was pool performance that made me go solo mining at first.  I had set up a miner but the pool became unreliable.  Back then, the miner software I chose didn't have a backup pool option, and I didn't want to go through the hassle of setting up another miner's dependencies on an antiquated system.

Bitcoin is like a variation of Schrödinger's Cat. Everything about it is both scam and fully legit at the same time until you open the box. - ElectricMucus
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LiteBit
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October 30, 2012, 04:39:36 PM
 #22

I'm going to switch from Slush's pool to p2pool. Well, if bfl asics will be supported by p2pool sw.

Funny, I was looking to switch from MtRed to Slush's pool once I got my ASICs.  Merely because of the Stratum protocol.  I'm interested why you are switching from Slush to p2pool. 
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October 30, 2012, 10:32:19 PM
 #23

...to Slush's pool once I got my ASICs.  Merely because of the Stratum protocol.

I also plan to switch from solo to slush's pool to recoup the coins I spent on a bASIC because of the exact same reason.  Once I make it back, I will switch back to solo though.

Bitcoin is like a variation of Schrödinger's Cat. Everything about it is both scam and fully legit at the same time until you open the box. - ElectricMucus
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November 01, 2012, 10:37:48 PM
 #24

Considering how crucial the first few weeks will be I would say its too risky to solo mine. If you don't find a block it that time and everyone gets their ASIC's (and GPUs fall off) you will have lost a lot of potential profit.
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November 02, 2012, 01:48:57 AM
 #25

Considering how crucial the first few weeks will be I would say its too risky to solo mine. If you don't find a block it that time and everyone gets their ASIC's (and GPUs fall off) you will have lost a lot of potential profit.

I'm already testing out stratum on slush's pool with my GPUs so that if/when I receive the ASIC, I can hopefully just plug in and go.

Bitcoin is like a variation of Schrödinger's Cat. Everything about it is both scam and fully legit at the same time until you open the box. - ElectricMucus
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November 13, 2012, 05:24:50 AM
 #26

Solo mining is a bit risky. Once ASICs are deployed, difficulty could rise dramatically in a matter of days. If you are solo mining with 60gh, it's possible you won't even find a block in that time period. Not worth it.

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November 13, 2012, 07:07:37 AM
 #27

I read alot of short term thinkers with ASIC buyers.. that they will only make some roi the first ones that get delivered and only in the first few weeks  Huh ..people will be better off in a pool anyway, why else would people at the moment doing 300gh, 200gh, 100gh plus be mining @pools or so Huh  

So it also means that if you get delivered 3 weeks timespan later u will be out of the game making the first big and fast BTC,s and still waited for alsmost an half year on your ASIC device...mostly making non BTC at all.. i do think this is kind of a
"i,ve been/got f4cked" bij the ASIC promisses don,t u think?Huh especially when only ordered 1 or 2  devices@ 60gh speed.. We will see soon..

Also i think https://bitcointalk.org/index.php?topic=123602.0  has a point there too..
 


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November 14, 2012, 01:28:25 AM
 #28

Many of the early adopters are going to be able to make a nice amount of money. This isn't to say that later adopters are not going to make a good amount of money, and in fact people who don't adopt this new technology are going to stop making any money at all off of this, but the early you get in the better.

But keeping in mind how mining works and how bitcoin works in general, mining in pools is always going to be the way to go. You will still need to own a substantial amount of power in comparison to the total power in order to solo mine. That is not going to change. I do believe that some people, thought no many, will be able to solo mine right off the bat. But this will quickly become unreasonable as reports come in from the early adopters and more people start placing orders.

I say stick with pool all the way. Find people you are willing to talk to and get to know. Find pools that provide you with the information, rates, and fees that you are willing to go with, and just stick that out. It's not worth spending so much time trying to mine by yourself only to find out it didn't work, and then moving over to pool mining anyways, loosing all of that time and coin you could have had while you tried to solo mine.
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