Bitcoin Forum
December 19, 2018, 06:47:34 AM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: how to mine bitcoin without a pool?  (Read 4056 times)
DrG
Legendary
*
Offline Offline

Activity: 1680
Merit: 1017



View Profile
July 28, 2014, 08:19:28 AM
 #21

From BitcoinX Profitability Calculator for 1TH/s

Average generation time for a block (solo) 2 years, 131 days (can vary greatly depending on your luck)

Will you wait ~2-3 years to MAYBE get a block worth about $15,000 right now?

You'll make a lot more in a pool in that time frame.

How is that possible?

The math doesn't add up.

You'll make more in that time frame if you don't hit but less than if you hit because pool operator takes a cut.

Have you seen the difficulty graph for the past 1 year?  If you start mining now with some miniscule hashrate you will eek out a small amount on a pool and you will continue to get less and less each month.  You will also have a less and less chance of finding a block as each difficulty period passes by.   So last December your chance of finding a block with a given amount of hashrate was 20X as high (since difficulty is 20x as high).  In an additional 2 years figure difficulty goes up maybe 20x more making it even more unlikely you wil find a block.

The pool fees are at most 5% and miniscule compared to a 20x increase in difficulty.  Also in 2 years the block halving will occur and then you will only get 12.5BTC.
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
1545202054
Hero Member
*
Offline Offline

Posts: 1545202054

View Profile Personal Message (Offline)

Ignore
1545202054
Reply with quote  #2

1545202054
Report to moderator
jonnybravo0311
Legendary
*
Offline Offline

Activity: 1344
Merit: 1015


Mine at Jonny's Pool


View Profile WWW
July 28, 2014, 11:51:06 AM
 #22

From BitcoinX Profitability Calculator for 1TH/s

Average generation time for a block (solo) 2 years, 131 days (can vary greatly depending on your luck)

Will you wait ~2-3 years to MAYBE get a block worth about $15,000 right now?

You'll make a lot more in a pool in that time frame.

How is that possible?

The math doesn't add up.

You'll make more in that time frame if you don't hit but less than if you hit because pool operator takes a cut.
The math does add up, because it's math that got the expected values.
Code:
Current difficulty * 2**32 / hash rate / seconds in a day = number of days expected to find a block
You can avoid fees by mining on a pool without them.

Jonny's Pool - Mine with us and help us grow!  Support a pool that supports Bitcoin, not a hardware manufacturer's pockets!  No SPV cheats.  No empty blocks.
virtapayseller666
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250


View Profile
July 28, 2014, 04:43:28 PM
 #23

https://ghash.io/


0% mining fees

you can use this

 

██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
█████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████
 
Get Free Bitcoin Now!
  ¦¯¦¦¯¦    ¦¯¦¦¯¦    ¦¯¦¦¯¦    ¦¯¦¦¯¦   
0.8%-1% House Edge
[/
thirdprize
Sr. Member
****
Offline Offline

Activity: 273
Merit: 252


View Profile
July 31, 2014, 10:44:33 AM
 #24

I have an Antminer U2 on my works laptop, so I only really mine while I'm at work.  I am with Slushs and in all honesty, it will be a year before I even make the .01 minimum payout.  What is that £3?  I might as well be solo mining now as I'm never going to see any real return on my pool mining. 

Then again I have never really done any lotteries as I never liked their odds. 
umairsaleem010
Full Member
***
Offline Offline

Activity: 224
Merit: 100



View Profile
August 02, 2014, 07:33:58 AM
 #25

you all guys rocks thanks for your replies understand how to mine .. now locking down the thread .. Smiley

Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!