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Author Topic: Anyone making the move to solo mining?  (Read 6582 times)
Acejam
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June 21, 2011, 06:14:30 PM
 #1

Hey all,

I have a triple 6990 rig running caseless right now with Ubuntu and poclbm. It's been running with dual cards for about 3 weeks now, and I just added a 3rd card on Saturday. I'm also expecting 2 more 69990's sometime this week, and will be putting them into my main desktop machine. With the 3 cards I'm just under 2,000 MHPS.

I've been mining with Deepbit for just over a month now, since my start in the Bitcoin world. Just today, I decided to switch my miners to solo. I configured my bitcoin.conf file, and so far everything is working out great. I'm willing to stick with it for a bit - but I'm hoping that I'll get lucky at some point. Smiley Without any overclocking, I'll be at 3,300 MHPS soon enough, and figured solo might be worth it in the long run.

Anyone else making the switch to solo mining?
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brunoshady
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June 21, 2011, 06:32:37 PM
 #2

I've saw many people in this forum saying that mining solo and with a pool are the same thing, except for the fact that in pool you have constant payout, or, quicker payouts..


with mining solo, you will get, for example, 1 week to find a block and earn 50 BTC, and with a pool, mining for one week will get you around 50 BTC to, but you can get your payout anytime...




correct me if am I wrong



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June 21, 2011, 07:21:50 PM
 #3

also, at this point with 2000 MH/s it's going to be closer to a month to get 50 coins in a pool.
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June 21, 2011, 08:01:03 PM
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also, at this point with 2000 MH/s it's going to be closer to a month to get 50 coins in a pool.

Likely even more than that too, difficulty will jump again probably sometime Friday and will push it out even further.
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June 21, 2011, 08:05:35 PM
 #5

i don't dare doing solo mining at this rate. if it takes you about a month to mine 50 btc theoretically, the difficulty probably goes up in the mean time and you would never know when you will get your block.
Meatball
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June 21, 2011, 08:11:18 PM
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Yeah, and the problem with solo mining is it's just plain discouraging.  Checking your machine day after day and not seeing a block found gets old real fast.  I'd much rather have the little trickle of coins every day than wait for a block now and then.

I seriously thought about going solo when I found 2 blocks in the first week I was mining for slush's pool, so for about 2 weeks, I would have been better off having been solo mining and getting those 100 BTC.  But since that first week, I haven't found a single block for the pool, and yet I'm still getting coins every day. 

I guess it's just what you think you can tolerate before getting discouraged solo mining.  Whatever you do though, if you think you might not be able to deal with solo long term, go pooled now.  If you go solo for a few weeks and don't find anything and then switch over, you've lost all those BTC you could have been making in the pool.
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June 21, 2011, 08:37:38 PM
 #7

Wait... where are you finding all these 6990s?

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Acejam
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June 21, 2011, 08:40:44 PM
 #8

Wait... where are you finding all these 6990s?

NewEgg got a ton of Sapphire 6990's in stock on Friday. I ordered 2 of them. Smiley

www.nowinstock.net - signup for email alerts - NewEgg's auto-notify SUCKS.

How can I tell if I found a block myself *while* pool mining? (enter my address on block explorer?) You guys are making me want to switch back. (which I might end up doing now, since it takes me <5 minutes to move the miners) Any recommendations on a new pool? I've been with Deepbit for a while - simply because they seemed the most reliable. BTCGuild looks pretty nice though, and 0% fee's.



So much for this thread and my solo mining expedition.  Grin
bitebitebite
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June 21, 2011, 08:42:15 PM
 #9

 Im soloing with 1x 6990 for a bit of a gamble. Pooling isnt really worth the small trickle of a few pounds a week to me (profit is profit, but I'd have to be broke or a kid for that to make sense to me). Did OK with namecoins around a week ago, but thats for shit too now. Going to gamble for a week then switch off
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June 21, 2011, 08:53:52 PM
 #10

Wait... where are you finding all these 6990s?

NewEgg got a ton of Sapphire 6990's in stock on Friday. I ordered 2 of them. Smiley

www.nowinstock.net - signup for email alerts - NewEgg's auto-notify SUCKS.

How can I tell if I found a block myself *while* pool mining? (enter my address on block explorer?) You guys are making me want to switch back. (which I might end up doing now, since it takes me <5 minutes to move the miners) Any recommendations on a new pool? I've been with Deepbit for a while - simply because they seemed the most reliable. BTCGuild looks pretty nice though, and 0% fee's.



So much for this thread and my solo mining expedition.  Grin
Well damn, I wish I had known about NowInStock a lot sooner.  Thanks for the heads up!

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nebiki
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June 21, 2011, 09:22:29 PM
 #11

well, when solo mining you don't get the pool's downtime etc. no stale shares. but ya, going for months without finding a block is not fun. maybe if you like playing the lottery. it's a fair gamble, even better than roulette.

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June 22, 2011, 12:36:34 AM
 #12

i don't dare doing solo mining at this rate. if it takes you about a month to mine 50 btc theoretically, the difficulty probably goes up in the mean time and you would never know when you will get your block.
But then again, there's always the chance that you get a block in a single day and you don't have to share the profits.

I understand the benefits of pooled mining, but I think it's funny that in this decentralized libertarian-ish system, people immediately form these socialized pools, effectively yielding a lot of power to a small elite of site operators. I'd expected Bitcoin users to behave very differently. It's nice to have no central bank, but the current Bitcoin economy functions almost exclusively due to centrally managed services.

This is not a criticism to individual people making these choices for themselves, but I do find myself constantly thinking about how the Bitcoin protocol itself could be improved or extended to make all these sites and power shifts unnecessary. Mining could be 'fixed' by tweaking some knobs, exchanges are probably a lot harder if not impossible...
This decentralized libertarian-ish system is not invulnerable to greed, unfortunately.

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Jack of Diamonds
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June 22, 2011, 01:31:29 AM
 #13

From a mathematical and statistical viewpoint, it makes less & less sense to move into solo mining as difficulty raises in an exponential factor.

So as a defense mechanism it's quite counter-productive to your earnings.
If anything, the more difficult finding blocks gets; The more incentive you have to join pools if you are a small miner and move away from solo mining.

At current difficulty it is highly likely you will never find a block with a CPU in a year.
10 difficulties down the road, it becomes virtually impossible.

To gain at least a fraction of found block rewards, you can join pools.

For all practical purposes, past 8-10m difficulty there will be no other way to earn regular BTC besides pools,
unless you are feeling very lucky, or have a massive mining cluster.

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June 22, 2011, 01:51:20 AM
 #14

I've saw many people in this forum saying that mining solo and with a pool are the same thing, except for the fact that in pool you have constant payout, or, quicker payouts.

I think that if your expected time to find a block is longer than the time to the next difficulty adjustment you would make more in a pool
mmortal03
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June 22, 2011, 04:09:34 AM
 #15

Well, Continuum Pool's proportional side, for example, is hashing at 15 GHashes at the moment, and they haven't found a block in over three weeks.  So, if they aren't finding blocks with that amount, then the odds are that you probably won't do any better solo with less than that. My point being, you should throw some megahashes their way, as they are really needing to find a block at this point!
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June 22, 2011, 04:12:47 AM
 #16

i don't dare doing solo mining at this rate. if it takes you about a month to mine 50 btc theoretically, the difficulty probably goes up in the mean time and you would never know when you will get your block.
But then again, there's always the chance that you get a block in a single day and you don't have to share the profits.

I understand the benefits of pooled mining, but I think it's funny that in this decentralized libertarian-ish system, people immediately form these socialized pools, effectively yielding a lot of power to a small elite of site operators. I'd expected Bitcoin users to behave very differently. It's nice to have no central bank, but the current Bitcoin economy functions almost exclusively due to centrally managed services.

This is not a criticism to individual people making these choices for themselves, but I do find myself constantly thinking about how the Bitcoin protocol itself could be improved or extended to make all these sites and power shifts unnecessary. Mining could be 'fixed' by tweaking some knobs, exchanges are probably a lot harder if not impossible...
This decentralized libertarian-ish system is not invulnerable to greed, unfortunately.

Pools are nothing more than a contract among all parties involved and a service provider. What wouldn't be libertarian would be to force people to join a pool.
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June 22, 2011, 10:46:19 AM
 #17

I first started with this site:www.bitcoinplus.com as it was easy to use but it's cpu based and browser based so it wasn't as gd as solo mining.I'm only stuck with solo mining as the router I'm behind keeps having issues with port forwarding which would have otherwise haev given me a steady income from btc mining.A card thats giving me about 36MHash/s (Radeon HD 4670) will take 4eva to get me 50btc as well as having to deal with cost cutting measures I have to follow (and not b choice either) means I plan to run an experiment.

UPDATE:I'm moving out of solo mining due to the improved returns on my current hardware and this will be reflected in my experiments later.

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June 22, 2011, 11:34:22 AM
 #18

I wouldn't solo mine unless I could expect an average of 2 blocks/day, or the (really) bad luck streaks would last too long. That's about 87 MHash with the current difficulty.
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June 22, 2011, 12:44:02 PM
 #19

I wouldn't solo mine unless I could expect an average of 2 blocks/day, or the (really) bad luck streaks would last too long. That's about 87 MHash with the current difficulty.

You mean 87 GH/sec, right?  With 87 MH/sec you're looking at 16 months with current difficulty to find a block.
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June 22, 2011, 01:47:49 PM
 #20

with a ~100mh on a sigle gpu solo mining is not an option . good luck with your solo mining
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