Bitcoin Forum
December 05, 2016, 02:40:20 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: At what point is Solo Mining good? How much Ghash do you need?  (Read 4236 times)
Lethos
Sr. Member
****
Offline Offline

Activity: 476


Keep it Simple. Every Bit Matters.


View Profile WWW
June 06, 2012, 06:54:36 PM
 #21

Try it out, try solo mining for a month. See how much you end up with.
Next month do it with your favourite pool.

Let your own experience choose for you.

Sometimes the ease of a pool that can directly convert your bitcoins & namecoins for you direct to payment via paypal is something that appeals to some. Eclipse is one of those pools and has no mandatory fees, just donations. Their is of course other pools out there.

Lethos Designs | UK BTC Seller -  Local Bitcoins | BTC OTC Rating | 1EFhXfX9uXsbXBF3LC69GiVfS3SHCsyMR1
FPGA: 2x Quad XC6SLX150 Boards
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480905620
Hero Member
*
Offline Offline

Posts: 1480905620

View Profile Personal Message (Offline)

Ignore
1480905620
Reply with quote  #2

1480905620
Report to moderator
mdude77
Legendary
*
Offline Offline

Activity: 1358


View Profile
June 07, 2012, 12:23:02 AM
 #22

My common comment on the subject ...
The highest variance I've seen so far was a deepbit block of 825%
(there may have been worse, but that's the highest I've seen)
So, although it could get worse, it's not very likely to be much worse than about ~8 times.

Someone with a stats major can work out the probability of an 8 times variance if they like Tongue

Anyway, what that means of course is that if you are solo mining at a rate with an average expectation of a block every week, it's not improbable for you to get no blocks for 8 weeks ...

Whatever your average expected block time is, imagine if you could deal with it being 8x that to find a block ...
If 8x is OK , then yep solo mining is for you.
If 8x makes you want to cringe and pull your hair out, then solo mining is not for you.

And that of course begs the question...

How much would you make on a free, or even a 5% PPS pool, in the time waiting for that 8x?

M

MMinerMonitor author, monitor/auto/schedule reboots/alerts/remote/MobileMiner for Ants and Spondoolies! Latest (5.2). MPoolMonitor author, monitor stats/workers for most pools, global BTC stats (current/nxt diff/USD val/hashrate/calc)! Latest (v4.2) 
Buyer beware of Bitmain hardware and services.
Aseras
Hero Member
*****
Offline Offline

Activity: 658


View Profile
June 07, 2012, 01:10:16 AM
 #23

Solo mining is like buying a lottery ticket. You might win a lot fast and then see nothing. Get regular wins or have a ridiculous loosing streak. The higher the difficulty the more likely you are wasting your time/money.

PPS is a sure thing. You get paid no matter what. It's a steady trickle.

If you are into gambling and like the "rush" of hitting a block go for it. If you actually want to rely on bitcoin as income Use PPS unless you have the equivalent hash power of a pool or close to it. Or setup your own pool.
kano
Legendary
*
Offline Offline

Activity: 1918


Linux since 1997 RedHat 4


View Profile
June 07, 2012, 02:52:01 AM
 #24

OK to correct any misunderstandings that anyone 'might' have ... Smiley

Over a long period of time solo mining, you will get close to the expected number of blocks.
... and by a long period of time, I of course mean mining something like many 100's of blocks
(again anyone with some university level stats feel free to chime in with the actual correct numbers)

Over the short term, you could get way less or way more - but you CANNOT know in advance which will happen.

I've pool mined for about 10.5 months and found a few more than expected on my measly small mining setup Smiley
- but no actual gain from finding extra blocks of course since I pool mine

Last month I mined 3 blocks for Ozcoin with 1.93 to 2.29 GH/s Smiley
(I removed one mining card recently)

But since my current 1.93GH/s currently has an average expected block time of
2^32*1591074.9618473/1.93x10^9 seconds = 3540733 seconds = ~41days

then using my 800% figure it's not that unrealistic to think that I may not find another one for over 10.5 months ...

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
Tittiez
Hero Member
*****
Offline Offline

Activity: 686



View Profile
June 07, 2012, 03:15:53 AM
 #25

then using my 800% figure it's not that unrealistic to think that I may not find another one for over 10.5 months ...

Or in 5 years, or tomorrow. Tongue
kano
Legendary
*
Offline Offline

Activity: 1918


Linux since 1997 RedHat 4


View Profile
June 07, 2012, 03:48:41 AM
 #26

then using my 800% figure it's not that unrealistic to think that I may not find another one for over 10.5 months ...

Or in 5 years, or tomorrow. Tongue
Tomorrow - yes, 5 years - EXTREMELY UNLIKELY
(two of my blocks found in May were 4.5 days apart ... I was rather stoked about one of them coz I saw it happen Smiley )

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
martychubbs
Hero Member
*****
Offline Offline

Activity: 476



View Profile
June 07, 2012, 05:55:58 PM
 #27

A1's first block went over 825%?  hehe
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!