[2018-07-12] Cryptocurrency Mining 101: Is Solo Mining Worth It?

Bitcoin Garden | Cryptocurrency Mining 101: Is Solo Mining Worth It?
https://bitcoingarden.org/cryptocurrency-mining-101-is-solo-mining-worth-it/

These days cryptocurrencies are more popular than ever. It’s no surprise that a huge number of people are getting into the game. Along with the rapid growth users so too came an increase in the difficulty of mining. It’s gotten to the point where most stand-alone mining rigs cannot find cryptocurrency blocks as easily as they used to.

Nowadays, there are dedicated GPUs and ASIC devices designed solely for mining and not only that mining rig owners have decided to combine their efforts and create mining pools. Essentially, a team works together and if one of the block solutions is valid then the pool gets rewarded for the found block divided according to the invested effort of each participant.

With so many successful teams out there, today it is widely believed that collective mining on pools is the only option, but it’s not. If you have enough mining power (hashrate), you can still mine most cryptocurrencies on your own. But, before we get into it, here are the top things you should know about solo mining....