How do solo miners earn

[Amphenomenon]

Do solo miners earn bitcoin  for the effort they put in trying to validate  a block even if in the end they are not the validators of the block?

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[John Abraham]

Do solo miners earn bitcoin  for the effort they put in trying to validate  a block even if in the end they are not the validators of the block?

No. They don't earn anything until they find a block. Being a solo miner means trying your luck these days. If you have a few miners, You may try it by running one of them. But, Be informed that you won't earn anything until you hit a block. It may take more than a month to find a block, or it may take longer. Depend on your miner's hash rate (More hashrate= More chances to find a block). But, Sometimes, lucky Solo miners find a block within days.

If you run your miner solo and lose patience without finding a block, all your effort will remain unpaid. There is nothing you can do and no one to blame. So, be careful when you run your miner. Do your research before you invest in solo mining. It may lead you to financial damage if you cannot continue mining due to impatience.

[CryptoHFs]

Do solo miners earn bitcoin  for the effort they put in trying to validate  a block even if in the end they are not the validators of the block?

No. They don't earn anything until they find a block. Being a solo miner means trying your luck these days. If you have a few miners, You may try it by running one of them. But, Be informed that you won't earn anything until you hit a block. It may take more than a month to find a block, or it may take longer. Depend on your miner's hash rate (More hashrate= More chances to find a block). But, Sometimes, lucky Solo miners find a block within days.

If you run your miner solo and lose patience without finding a block, all your effort will remain unpaid. There is nothing you can do and no one to blame. So, be careful when you run your miner. Do your research before you invest in solo mining. It may lead you to financial damage if you cannot continue mining due to impatience.

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

[hosseinimr93]

is it profitable with patience?

All depends on your luck. To me, solo mining is more like gambling.

To know the chance of finding each of blocks, you can simply divide the hashrate provided by your mining equipment to the total hashrate of network.
Currently, the total hash rate of network is around 350 EH/s.

[ABCbits]

--snip--

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

Whether it's profitable or not also depends on your ASIC hardware and electricity price. But joininig pool guaranteee better income consistency. Although if you prefer solo mining, using solo pool mining (such as https://solo.ckpool.org/) usually have better profitability since solo mining pool offer faster block propagation and you don't need to burden yourself to run your own/full node.

[Upgrade00]

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

This depends on your total expenditure to keep your mining node running. It is estimated to take a solo Miner an average of 10 months to a year to get a valid block, this average means it could be shorter for some and longer to never for others.

If an average profit of 6.25BTC per year would be enough to keep your machines and electricity up for the duration of that time, then being patient might be worth it.

[DaveF]

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

This depends on your total expenditure to keep your mining node running. It is estimated to take a solo Miner an average of 10 months to a year to get a valid block, this average means it could be shorter for some and longer to never for others.

If an average profit of 6.25BTC per year would be enough to keep your machines and electricity up for the duration of that time, then being patient might be worth it.

There is no way to estimate anything without knowing the miners hashrate.
If you have 100th (a single S19j Pro) its going to take on average about 60 years to find a block. Assuming no difficulty increases, which we know is not a valid assumption.

In the end it's all random, you could plug it in and configure it and have it find a block in 5 minutes, or it could take 100 years.

As has been said, it's a lottery. Some people win, most don't.

-Dave

[CryptoHFs]

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

This depends on your total expenditure to keep your mining node running. It is estimated to take a solo Miner an average of 10 months to a year to get a valid block, this average means it could be shorter for some and longer to never for others.

If an average profit of 6.25BTC per year would be enough to keep your machines and electricity up for the duration of that time, then being patient might be worth it.

There is no way to estimate anything without knowing the miners hashrate.
If you have 100th (a single S19j Pro) its going to take on average about 60 years to find a block. Assuming no difficulty increases, which we know is not a valid assumption.

In the end it's all random, you could plug it in and configure it and have it find a block in 5 minutes, or it could take 100 years.

As has been said, it's a lottery. Some people win, most don't.

-Dave

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

This depends on your total expenditure to keep your mining node running. It is estimated to take a solo Miner an average of 10 months to a year to get a valid block, this average means it could be shorter for some and longer to never for others.

If an average profit of 6.25BTC per year would be enough to keep your machines and electricity up for the duration of that time, then being patient might be worth it.

--snip--

is it profitable with patience?

for example if you can have 25 miners

should you put them in a pool, or create your own pool or run each miner solo

how profitable is it versus being in a pool

Whether it's profitable or not also depends on your ASIC hardware and electricity price. But joininig pool guaranteee better income consistency. Although if you prefer solo mining, using solo pool mining (such as https://solo.ckpool.org/) usually have better profitability since solo mining pool offer faster block propagation and you don't need to burden yourself to run your own/full node.

is it profitable with patience?

All depends on your luck. To me, solo mining is more like gambling.

To know the chance of finding each of blocks, you can simply divide the hashrate provided by your mining equipment to the total hashrate of network.
Currently, the total hash rate of network is around 350 EH/s.

thanks a lot everyone. Also would truly appreciate if you can give any opinions about processing these 1m transactions https://bitcointalk.org/index.php?topic=5447734.msg62041931#msg62041931

[Amphenomenon]

With everything I have read. I say solo mining is no longer profitable except you have good ASICs Hardware and go electricity which only increases the odd.
So basically mining pool is better now

[philipma1957]

With everything I have read. I say solo mining is no longer profitable except you have good ASICs Hardware and go electricity which only increases the odd.
So basically mining pool is better now

solo mining with good asics and cheap power is the wrong move.

if you have a 100th machine that burns 2.5 kwatts an hour it is a very good machine
if you have 4 cent power it is cheap.

that machine would cost 10 cents an hour to run or $2.40 a day

100 th pre power makes $7.40 thus

7.40-2.40 = 5 a day for sure

vs who knows with solo

so mine 100 days on a pool pick up $500
then mine 1 day on solo and maybe you get lucky.

in 1010 days you have $5,000 for sure and maybe you get lucky with the solo

[philipma1957]

Solo mining as the name implies, 😊 is like playing gamble.There's no assurance that the miners would get something at the end. Although it's all about luck.

exactly which is why you need careful management of your gear if you do a little solo mining.

[John Abraham]

exactly which is why you need careful management of your gear if you do a little solo mining.

I agree that solo Mining is like gambling. But, I believe Mining is not all about making money only. Whoever gets started Mining at some point gets addicted to it. You are a miner, so you know what I am talking about. Some people will continue Mining if their Mining becomes unprofitable. I used to mine ETH when it was POW. But, As you know, Almost every GPU Minable algorithm/coin is unprofitable right now. Still, I mined a couple of weeks before some of the rigs got burned, and I didn't bother to repair them.

Mining is making money and fun at the same time. I don't know how you will take this in your life. It was fun for me. I used to Mine ETH and Exchange them for BTC. Whoever comes new to Mining and hoping to make too much money, I won't suggest them as old miners are getting unprofitable, and energy costs are increasing daily in my area. So, I don't recommend any new miners to start solo mining unless they are extreme passionate about mining.

[hZti]

If you use your mining equipment to heat your house or office space, then there is a cost of 0 USD. You dont need to earn anything to be able to keep mining and for that reason many miners do not care if they earn anything with their solomining. See here: https://bitcointalk.org/index.php?topic=5436532.msg61644308#msg61644308

[panganib999]

That's practically a miracle these days. Quite hard to pull off something like that considering that bitcoin's supply is consistently depleting. Your best bet is still to have multiple miners running because you don't earn anything from validating blocks on bitcoin, you earn something when you find a bitcoin block. Not saying that solo mining is not goox anymore. For all I know it's still as profitable as ever, but the problem lies in whether your rig is powerful enough. If it isn't, you're toast.

[KiaKia]

Betting their mining hashrate on Luck.

Solo mining is based on luck but I do like the fact that you can increase your chance of getting luck sooner and faster with more hashrate, it feels good when you solve a Bitcoin block on your own and sit on the reward by yourself, if you want to embark on this journey you need to take your mind off making quick money, you will never know the day that your luck will be around the corner and make sure your miner never stop working, happy hunting and all the best.

[paid2]

Do solo miners earn bitcoin  for the effort they put in trying to validate  a block even if in the end they are not the validators of the block?

Like for all miners, solo or pool, each block is always solved by 1 ASIC somewhere. Whether solo or in a pool, the miner (or a pool's miner in the case of pool) needs to solve the block to receive the block reward.

So those who mine solo enjoy the block reward without sharing it, but the probability of getting it is slim (as others have said it depends on hashrate and luck, it's totally random)

Many people mine solo with a small percentage of their hashrate, this allows them to keep a more or less stable income and have a small part of the hashrate left over like a lottery ticket.

OP, here is an quote from the following link that sums it up correctly: https://en.bitcoin.it/wiki/Pool_vs._solo_mining

Pros/Cons
Pool Mining Pros
Pooled mining generates a steadier income.
Pooled mining can generate a 1-2% higher income (before fees, if any) due to long polling provided by the pools.
Pool Mining Cons
Pool mining can suffer interruptions from outages at the pool provider.
Pools are subject to DOS attacks and have other downtimes, too. Backup pools and solo mining can be configured for these cases.
Pooled mining tends to generate a smaller income due to fees being charged and transaction fees not being cashed out.
There are zero fee pools. Until now, transaction fees are not cashed out by any pool.
Pools might be part of attack scenarios.
Solo Mining Pros
Solo mining is less prone to outages resulting in higher uptime.
Solo mining doesn't incur any fees. For each discovered block, 6.25 BTC and the transaction fees are paid to the miner.
Solo Mining Cons
Solo mining tends to generate more erratic income.
Solo mining wastes time due to only supporting getwork pull.