Mining Pool or Solo Mining?

[tmptfate]

Will be completing an upgrade to my mining rig in the next week or so and am currently using pooling. However, the upgrade to my rig is going to push it from ~350 M/Hashes to ~1.1-1.2 Gig/Hashes. With the increase would it be more beneficial to move to solo mining?

[hashman]

That depends on the pools' fee schedules these days. 

Solo mining is your best return in the long run at constant difficulty.  If you expect constantly increasing difficulty then the pool lets you get something more quickly during the low-difficulty era and so the return will  be better.

Happy hashing -

 

 

[bcforum]

Over an infinite period of time Solo Mining will be more profitable than a mining pool which charges fees. Over a shorter period of time random luck figures in so there isn't a clear winner.

At 1GH/s and current difficulty you should get about 0.66BTC/24hr period (deepbit's calculator).

Envelope calculations ahead:

Deepbit is at 3800GH/s and finding a block every 30minutes.

With solo mining at the current difficulty 1GH/s should take about 80 days to solve a block, so you have a 50% chance of earning 50BTC in 40 days.You could also find 10 in a row as soon as you start, or not find any in your lifetime.

[tmptfate]

Thanks for the info guys, going to have to think this over a bit. My impression so far is pool mining for now though.

[BitcoinForAll]

never solo .....
slowlyyyyyyyyyyyyyyy

[fedex9331]

If you can push 1.1 gig/hashes I say go for it. Whats the specs of the new rig?

[muscles]

solo mining is not worth it

[Bossland]

mining at btcguild

[lateminer]

Point is you missed the boat, however we all need miners to complete these transactions.

[striker11111111]

Solo mining ship has sailed. The days of 50 free btc are over, it's random chance now.