Solo mining using Bitcoin Core wallet

[Tolosi]

Mining from Bitcoin Core wallet

Probably this was asked before but I can not find :

Why it is not allowed any longer to solo mine directly using Bitcoin Core wallet?

[DaveF]

Because it's a waste or resources.
You can't find a block using your CPU or GPU anymore. It's beyond lottery odds.
Although not simple it's that difficult to setup a pool for yourself to mine to.

And there are a few solo pools out there that charge a low enough fee that it's probably better to mine there anyway.

http://solo.ckpool.org/ is 2%
http://viabtc.com is 1%
http://kano.is is .5%

(the above are all the solo fees, most offer regular pooled mining for a higher fee)

DYOR as to which one would work better for your situation.

-Dave

[BitMaxz]

You can still solo mine on Bitcoin core but you will need to set up a stratum pool to be able to mine with your own pool connected in your own full node.


If you are willing to make your own pool you can follow this guide here https://www.youtube.com/watch?v=MKb9YKIAltE

The only problem is that it will need time to fully sync before you can able to connect it to your pool.

Why don't you just use the available pool listed from here https://miningpoolstats.stream/bitcoin
You don't need to wait for too long to mine solo.

Take note you can only mine Bitcoin on ASIC miner if you are planning to mine with your CPU or GPU go to the altcoin section here https://bitcointalk.org/index.php?board=160.0

What actually your miner is?

[BlackHatCoiner]

Why it is not allowed any longer to solo mine directly using Bitcoin Core wallet?

Solo-mining is always allowed by Bitcoin Core. It'd be ironic if the official release of a Bitcoin client didn't have a solo-mining option.

Open your Bitcoin Core console and type “generatetoaddress <nblocks> <address> <maxtries>”.

Example:

Code:

generatetoaddress 1 tb1qm87j39792m2afwduss7hfwqg3xxrrz2tz8yxrw 2000000000

You won't be able to solve a block, because the difficulty is incredibly high for an average solo-miner. Try creating your own hard fork of Bitcoin and then use that for solo-mining, just to see that you're allowed to do that.

[Biffa]

Why it is not allowed any longer to solo mine directly using Bitcoin Core wallet?

Solo-mining is always allowed by Bitcoin Core. It'd be ironic if the official release of a Bitcoin client didn't have a solo-mining option.

Open your Bitcoin Core console and type “generatetoaddress <nblocks> <address> <maxtries>”.

Example:

Code:

generatetoaddress 1 tb1qm87j39792m2afwduss7hfwqg3xxrrz2tz8yxrw 2000000000

You won't be able to solve a block, because the difficulty is incredibly high for an average solo-miner. Try creating your own hard fork of Bitcoin and then use that for solo-mining, just to see that you're allowed to do that.

generatetoaddress can only be used on regtest which is for local testing, coins generated using generatetoaddress are worthless.  The mining functionality was removed from bitcoin core in version 0.13

[BlackHatCoiner]

generatetoaddress can only be used on regtest which is for local testing, coins generated using generatetoaddress are worthless.  The mining functionality was removed from bitcoin core in version 0.13

generatetoaddress works for me in the mainnet. I obviously haven't mined a block that way, I just hard forked it and tried with difficulty = 1.

[sheryllmcnulty]

A Lot has changed there. Solo mining is still allowed but I don't think you will be able to hit a block with a solo mining wallet. Try using solo pools they might help

[NotFuzzyWarm]

A Lot has changed there. Solo mining is still allowed but I don't think you will be able to hit a block with a solo mining wallet. Try using solo pools they might help

Solo mining is solo mining, mining to your own private node or a public solo pool makes very little difference in finding a block.

Now, having your found block confirmed by other miners so the chain is built upon it is a whole different story -- damn good chance that some pool will have a block found perhaps very soon after and because of their faster connections to the BTC network their block gets confirmed before yours shows up on the network meaning you lose an orphan race.

[realdantreccia]

A Lot has changed there. Solo mining is still allowed but I don't think you will be able to hit a block with a solo mining wallet. Try using solo pools they might help

Solo mining is solo mining, mining to your own private node or a public solo pool makes very little difference in finding a block.

Now, having your found block confirmed by other miners so the chain is built upon it is a whole different story -- damn good chance that some pool will have a block found perhaps very soon after and because of their faster connections to the BTC network their block gets confirmed before yours shows up on the network meaning you lose an orphan race.

Thank you for the lightbulb that went off in my tiny little brain. That makes sense. Lurking just paid off

[onalaniglerhold]

Because it's a waste or resources.
You can't find a block using your CPU or GPU anymore. It's beyond lottery odds.
Although not simple it's that difficult to setup a pool for yourself to mine to.

And there are a few solo pools out there that charge a low enough fee that it's probably better to mine there anyway.

http://solo.ckpool.org/ is 2%
http://viabtc.com http://www.worktime.com is 1%
http://kano.is is .5%

(the above are all the solo fees, most offer regular pooled mining for a higher fee)

DYOR as to which one would work better for your situation.

-Dave

Time-tested. I have been using the first one for three years.