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Author Topic: AT what Difficulty do you stop solo mining?  (Read 1605 times)
mafia
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June 08, 2014, 06:32:19 PM
 #1

Hello

I have one r9 280x, at what difficulty or overall hashrate do you stop solo mining

thanks!
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Korbman
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June 08, 2014, 07:35:58 PM
 #2

I have one r9 280x, at what difficulty or overall hashrate do you stop solo mining

Depends. Do you pay for electricity?

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June 08, 2014, 07:43:34 PM
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I use my work workstation and mine at home so yes and no
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June 08, 2014, 09:08:52 PM
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It depends on the characteristics of the coin, there isn't a fixed value but can be estimated.

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June 08, 2014, 09:10:52 PM
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I use my work workstation and mine at home so yes and no

Well, it's technically a binary question  Smiley

If you don't pay for power, then solo mine away and hope you find a block. But take into consideration three things: 1) the difficulty of the coin you're mining, 2) the probability of finding a block over 'X' amount of time, and 3) hardware depreciation.

If you're like most people then yes, you do pay for electricity, and no, it's certainly not worth it to solo mine. If you were to pool mine, a 280X uses somewhere around 350W at 100% sustained load (from what I've read). At 350W, you're looking at 8400W consumed per 24 hours, or ~256 Kilowatt hours per month. If mining generates enough revenue to cover 256 kWh worth of power, then keep mining.

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June 08, 2014, 09:14:05 PM
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Hah there's no ultimate formula for this if you won't be getting any blocks for some time then it's time to stop logicaly, no?

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June 08, 2014, 09:24:12 PM
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What is the average difficulty or total coin hash rate most people stop at then?
mafia
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June 08, 2014, 09:25:49 PM
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If I am solo mining and it says

Network different set to 1

Does that mean difficulty is at its lowest? Should carry on solo mining?
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June 08, 2014, 10:09:10 PM
 #9

What is the average difficulty or total coin hash rate most people stop at then?

I'm not sure it's possible to answer that question...as SirChiko pointed out:

Hah there's no ultimate formula for this if you won't be getting any blocks for some time then it's time to stop logicaly, no?

To keep it simple: Solo mining isn't worth it anymore. Your best bet is to join a Scrypt multipool, of which there are quite a few. Here's a list of many of them: https://bitcointalk.org/index.php?topic=424541.0

mafia
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June 08, 2014, 10:20:23 PM
 #10

What about a new coin which is just released? When do you know when to stop solo mining and join a pool
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June 09, 2014, 12:46:07 AM
 #11

What about a new coin which is just released? When do you know when to stop solo mining and join a pool

That's almost impossible to know.

The simplest way to think about it...and I'm talking the bare minimum here...is revenue vs. expenses. If solo mining isn't profitable anymore (coins earned vs cost to earn them), switch to pooled mining. If neither is profitable, then it's time to stop (unless it's for a hobby, or if you want to help secure that particular coin's network).

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June 09, 2014, 01:17:54 AM
 #12

Hello

I have one r9 280x, at what difficulty or overall hashrate do you stop solo mining

thanks!

Other then new coin you pretty much have to pool mining to get something...
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June 09, 2014, 01:18:41 AM
 #13

The difficulty might not be the best indicator as depending of your rig and hashing power you will be able to solo mine effectively or not at higher difficulty.
What I usually use is the time between two blocks, if the time between two block becomes too large or becoming too random, it is time to switch to pool.

Regarding new coins (X11 and X13 or coin with dgw/kgw), I don't try to solo mine more than a half hour (and most the time if I get anything it is in the 1/4 hours. but again it depends of your hashing power. And at the moment, after an half hour on X11, the difficult is usually around 50 (there are a few exception though)

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June 09, 2014, 01:25:07 AM
 #14

Hello

I have one r9 280x, at what difficulty or overall hashrate do you stop solo mining

thanks!

Other then new coin you pretty much have to pool mining to get something...
Dead coin are easy to get unless everybody left when the difficulty was pretty high
A few exemples: TalkCoin is "easily" solominable however the difficulty has increased recently and it is more profitable to mine in pool.
                        DMD can be solo mine

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June 12, 2014, 05:44:16 AM
 #15

What I usually use is the time between two blocks, if the time between two block becomes too large or becoming too random, it is time to switch to pool.
That's exactly what I do - all depends on how quickly / slowly I can find a block.
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