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Author Topic: solo mining those who found block..  (Read 11681 times)
Argon2
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May 26, 2017, 03:18:58 AM
 #21

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".
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cryptosifu
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May 28, 2017, 12:59:18 AM
 #22

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

This is not a true statement.  You may never hit a block solo mining but will earn some bitcoins while mining in a pool. 
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May 28, 2017, 03:37:44 PM
 #23

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

Yes, but you still need to find a block first. So you need to fight with pool hash power. For time maybe it's 'on average' but hash power seems to be impossible for solo mining.

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May 28, 2017, 09:38:03 PM
 #24

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

Yes, but you still need to find a block first. So you need to fight with pool hash power. For time maybe it's 'on average' but hash power seems to be impossible for solo mining.
Strictly speaking Argon2 is right that on average you can earn the same but that's assuming infinite time when realistically the variance makes it not feasible.

What do you mean by "need to fight with pool hash power"? There is no such thing. All miners are unique and not fighting anyone except overall network diff.

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Victoo
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May 29, 2017, 06:51:00 PM
 #25

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

The variance is so huge, for this to be practical it would take lifetimes of mining. If you have a miner and you're wanting to make money solo mining just forget it. You'll make more money selling it to someone clueless in a yard sell.
malev
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May 29, 2017, 08:00:28 PM
 #26

i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.
cryptosifu
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May 29, 2017, 09:05:38 PM
 #27

i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.

I agree.  Best to mine a new low difficulty coin and sell it for bitcoins later when/if it's listed on an exchange.  It's a gamble because some coins won't get on an exchange but it's better than waiting for a solo block of bitcoins that might not happen before you die.
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May 29, 2017, 09:27:43 PM
 #28

i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.

I agree.  Best to mine a new low difficulty coin and sell it for bitcoins later when/if it's listed on an exchange.  It's a gamble because some coins won't get on an exchange but it's better than waiting for a solo block of bitcoins that might not happen before you die.

for sure. and if you choose established alt coins, its not even that big of a gamble. coins like ethereum, monero, litecoin all hold their values pretty well. and their miing returns are much better than bitcoin.
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