pool vs solo

[nahtnam]

Hey guys... What's the difference between solo and pooled mining, and which way do you make more money?

[jason60069]

It's pretty much impossible to solo mine these days.

[nahtnam]

It's pretty much impossible to solo mine these days.

What's the difference? Shouldn't they make the same?

[milone]

In theory you'd make the same either way over a long enough time period. But with solo mining it might be several decades before you get paid anything, or even centuries (depending on hashrate, of course). So I wouldn't recommend solo mining unless you're immortal.

[coburn64]

Pool usually rewards you for the effort you put into the pool. Common payout methods are PPS or DGM, some pools do POT (Pay on Target), which means the higher your shares, the more you get paid.

[polarhei]

Solo requires massive amount of hash power to work. For saving cost, Pool mining is the good idea at the stage 1.

To start

Find a person who has pyramining refer links

Find an exchange like BTC-E.com or Download the Bitcoin 0.8.4 for receiving the reward.

Select Plan A or Plan B to work


A.
Find a way to buy 0.1 BTC to sum up. The rest will do good for you. For the current price, that is within 20USD, which is the idea to do.

B.
You can use coinbox.me, point the receiving address to Pyramining, searching 0.00005500 BTC for 2 hours. After that ,wait 8 hours, then your search will be in the pyramining.

[makebitcoin]

Solo mining is like playing the lottery. A
Although it still is +EV in some situations the change of catching a block is so small you probably end up making 0 and frustrated.

[Green Samurai]

Better try pool mining

[poewerden]

I preffer solo, I have small hashrate, thus I want either score big or nothing, I dont need the dust 

[naphto]

That's like if you are in jail and want to escape, with a spoon, scratching the ground:
- if you are solo, you would be free if you manage to finish the way out. But it will take so many time that you will never finish before dying ...
- if you are in a pool, and got xxx other guys to help you, you will finish it faster, but you will not get all the reward, but only a %.

[marcotheminer]

It's pretty much impossible to solo mine these days.

What's the difference? Shouldn't they make the same?

No, in a pool miners work together in solving the block and the amount of work their mining produces gives them a higher share in the block value!

In solo its every man for himself so unless you have a VERY powerful miner its not that worth it to mine unless you just want to make 0.001 a day.

[zeraTunerse]

Solo mining = decentralized

[ajw7989]

Unless you have a huge amount of hash power join pooled mining. With this difficulty if you do not have in the 100s of gigahash you will have to be extremely lucky to find a block. At least in a pool you get paid daily in small amounts and can cash out whenever you want (assuming you meet a minimum)

[xypos]

Solo mining = decentralized

You can leave the pool anytime you want. And with a lot of pools, it is decrentralized too.
If you are solo mining, you can still have more hash powers that a small pool if you are rich

[nahtnam]

Thanks for all of the replies... I understand this a little bit more...

[Woody Goomsba]

Solomining is better.

[alittle]

Vote for solo mining

[nahtnam]

So it's either getting a huge amount in a long time, or to get a small amount for a long time which will add up to be almost the same...

[tasiv]

If I'm not mistaken, mining in a pool offers a higher chance of discovering the next block in the block chain.  You could mine solo, however the odds of you finding the block before EVERYONE in the pool finding the block makes it nearly pointless.

The issue with mining in a pool is trusting the pool to not get corrupt, which (again if I'm not mistaken) btcguild, one of the largest pools, has the potential to be corrupt, but has limited their user base as an act of good faith.

tl;dr: you can mine solo, but it's near pointless