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Author Topic: SOLO MINING = LOTTERY (in contrast to the more regulated pooled mining)  (Read 2441 times)
merkon
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June 19, 2011, 08:02:13 AM
 #21

Solo mining would be rough.  According to my deepbit account: "Number of blocks found by you: 0"

I've found 5, total btc earned 183. I guess I should have played the lottery.
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bitworld
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June 19, 2011, 08:15:22 AM
 #22

Ofcourse solo mining is more and more based on luck.
That's the reason why everyone joins pools, just to negate that luck factor
and get a steady income of bitcoins.
de_bert
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June 19, 2011, 08:42:04 AM
 #23

It's quite simple, really. If you join today with some quite powerful system, say 1GH/s, it would take weeks to find a single block. However, the difficulty to find a single block is increasing in insane rates, so your chance to actually find your block will drop constantly, and most probably you will not find one in years.

If you mine in a pool you have enough assembled calculation power to find blocks here and now, and you'll get a smaller share - but you _will_ get a share!

So if you do not have half a data center of GPUs working for you, go for the pool.
xali
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June 20, 2011, 06:46:52 AM
 #24

It's quite simple, really. If you join today with some quite powerful system, say 1GH/s, it would take weeks to find a single block. However, the difficulty to find a single block is increasing in insane rates, so your chance to actually find your block will drop constantly, and most probably you will not find one in years.

If you mine in a pool you have enough assembled calculation power to find blocks here and now, and you'll get a smaller share - but you _will_ get a share!

So if you do not have half a data center of GPUs working for you, go for the pool.

i found this post to be the most convincing. along with that other one that u want to negate luck (ohyea luck/chaos is bad lol)

Smiley ;/)
figvam
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June 20, 2011, 07:20:09 AM
 #25

I've found 5, total btc earned 183. I guess I should have played the lottery.
What is your hash rate?
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