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mu50stang (OP)
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October 06, 2011, 02:25:54 AM |
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I'm solo mining and have hit 500,000, should i stop or keep going. I was hoping to find one block solo mining just to be able to do it. Im kinda frustrated at this point, but wondering if I have come to far to stop. I know its like a lottery and each hash is its own chance of winning. I'm currently at 3.0 ghash/s. Any comments. Thanks.
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imsaguy
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October 06, 2011, 02:35:55 AM |
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The thing about bitcoin is that there is no way to know. You could get it within 5 seconds or you could mine for 5 years with no block. I'd say keep mining.
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DeathAndTaxes
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Gerald Davis
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October 06, 2011, 02:50:20 AM
Last edit: October 06, 2011, 04:19:39 AM by DeathAndTaxes |
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The past has no effect on future.
Personally I have >10GH and I won't solo mine. The variance is killer. With so many good pool options I am surprised that so many people enjoy the pain of solo mining.
With 3GH and current difficulty you have about a 35% chance of finding no blocks in next 30 days (the past doesn't count). You have a small but still significant chance; ~5% of not finding any blocks in next 90 days. You still have a roughly 1% chance (unlucky but not struck by lightning unlucky) of finding no blocks in the next 128 days.
That assumes no downtime, no stales, and no difficulty increases.
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slush
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October 06, 2011, 03:01:06 AM |
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With only 3Ghash - definitely pooled mining. There is pretty big chance that you won't find a block for months  . |
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jjiimm_64
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October 06, 2011, 05:23:38 AM |
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I'm solo mining and have hit 500,000, should i stop or keep going. I was hoping to find one block solo mining just to be able to do it. Im kinda frustrated at this point, but wondering if I have come to far to stop. I know its like a lottery and each hash is its own chance of winning. I'm currently at 3.0 ghash/s. Any comments. Thanks.
Please go back and read all the other posts YOU started about solo mining. with 3g you will make 1.75 btc a day at the current diff. you will make that at a pool OR solo, the only problem is with solo is the variance. you only get paid about once a month.... and if you cut your rig off just before you get a block, you paid the elec for nothing. |
1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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worldinacoin
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October 06, 2011, 05:50:23 AM |
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Maybe you should try soloing other coins that are easier than convert them to Bitcoins. Depending on the rates, maybe check allchains.info, it may be more than worth it. Also you will have to pleasure of seeing actual coins mined more frequently. Bitcoin difficulty is a bit staggering.
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Mousepotato
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October 06, 2011, 04:35:32 PM |
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See sig.
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Mousepotato
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bcforum
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October 06, 2011, 04:44:16 PM |
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I'm solo mining and have hit 500,000, should i stop or keep going. I was hoping to find one block solo mining just to be able to do it. Im kinda frustrated at this point, but wondering if I have come to far to stop. I know its like a lottery and each hash is its own chance of winning. I'm currently at 3.0 ghash/s. Any comments. Thanks.
I'm solo mining at 2GH/s and got nothing for two weeks. Then three over the weekend. Then nothing for 1.5 weeks (and counting) In the long run you will make more money solo mining than pool mining. With a pool you lose transaction fees, rejected shares, idle miner time, and in some cases pay a fee to the operator. |
If you found this post useful, feel free to share the wealth: 1E35gTBmJzPNJ3v72DX4wu4YtvHTWqNRbM
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jjiimm_64
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October 06, 2011, 06:02:02 PM |
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I'm solo mining and have hit 500,000, should i stop or keep going. I was hoping to find one block solo mining just to be able to do it. Im kinda frustrated at this point, but wondering if I have come to far to stop. I know its like a lottery and each hash is its own chance of winning. I'm currently at 3.0 ghash/s. Any comments. Thanks.
I am curious, how do you know you have 500,000 tries. when I soloed I did not see anything except a hashrate. Only found blocks report an 'accepted share' afaik. |
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Mousepotato
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October 06, 2011, 08:05:18 PM |
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I am curious, how do you know you have 500,000 tries. when I soloed I did not see anything except a hashrate. Only found blocks report an 'accepted share' afaik. Probably an approx figured based on hash rate. |
Mousepotato
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phorensic
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October 06, 2011, 08:48:25 PM |
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It can take 10 million "tries" to find a block right now. Everyone keeps tell you to stop soloing and join a pool. So join a pool already!
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322i0n
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October 06, 2011, 09:13:08 PM |
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if you want larger proportion of a block join a smaller pool.
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Supporting The Global Insurrection Against Banker Occupation
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mu50stang (OP)
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October 07, 2011, 12:29:51 AM |
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Thanks for all the info. As far as the hash count I add up what guiminer show on all my cards. Im trying to keep a running total. Right now with the price of bitcoin being so low id rather take the chance and get some blocks. I am a gambling type of guy so thats probably the real reason. Ill keep you guys updated on my success or lack of.
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Gabi
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If you want to walk on water, get out of the boat
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October 07, 2011, 05:21:43 AM |
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I'm solo mining and have hit 500,000, should i stop or keep going. I was hoping to find one block solo mining just to be able to do it. Im kinda frustrated at this point, but wondering if I have come to far to stop. I know its like a lottery and each hash is its own chance of winning. I'm currently at 3.0 ghash/s. Any comments. Thanks.
I am curious, how do you know you have 500,000 tries. when I soloed I did not see anything except a hashrate. Only found blocks report an 'accepted share' afaik. Guiminer show the "accepted share" for solo like when pool mining... |
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jjiimm_64
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October 07, 2011, 04:22:02 PM |
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Thanks for all the info. As far as the hash count I add up what guiminer show on all my cards. Im trying to keep a running total. Right now with the price of bitcoin being so low id rather take the chance and get some blocks. I am a gambling type of guy so thats probably the real reason. Ill keep you guys updated on my success or lack of.
mustang: fair enough. I really like the fact that you accept that your strictly gambling to find a block. in that case I support your efforts to solo mine ( this is a complete reversal of my previous posts). In fact I think it is good for the network for more miners to solo then pool. good luck |
1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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mu50stang (OP)
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October 07, 2011, 05:13:56 PM |
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Thanks, i jus wish someone could write a program to keep track of the hashs, how long it took for a block, that would be cool. I would do it but have no idea how.
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quartz92
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October 07, 2011, 09:00:31 PM |
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Thanks, i jus wish someone could write a program to keep track of the hashs, how long it took for a block, that would be cool. I would do it but have no idea how.
Would this even be possible? |
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jjiimm_64
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October 07, 2011, 09:27:06 PM |
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Thanks, i jus wish someone could write a program to keep track of the hashs, how long it took for a block, that would be cool. I would do it but have no idea how.
Would this even be possible? Yes it is possible: https://bitcointalk.org/index.php?topic=46659.0or you can create your own pool, the pushpool is open source. |
1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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mrb
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October 08, 2011, 02:12:15 AM |
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Thanks, i jus wish someone could write a program to keep track of the hashs, how long it took for a block, that would be cool. I would do it but have no idea how.
At the current difficulty of 1689k, it means you need (on average) to solve 1689k difficulty-1 shares to solve a block. You did 500k so far; statistically speaking you have a long way to go... |
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quartz92
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October 08, 2011, 03:06:21 AM |
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Thanks, i jus wish someone could write a program to keep track of the hashs, how long it took for a block, that would be cool. I would do it but have no idea how.
Would this even be possible? Yes it is possible: https://bitcointalk.org/index.php?topic=46659.0or you can create your own pool, the pushpool is open source. Oh, very nice |
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