At what point is Solo Mining good? How much Ghash do you need?

[David_Benz]

Title.

I will have 25 Ghash by end of month.  Should I solo mine, or GPUMax still?

Wont I have a decent chance at getting the entire 50 BTC a few times a month?

[zvs]

sure, I have 8 blocks solved in about 2 months @ 5ghash

[David_Benz]

sure, I have 8 blocks solved in about 2 months @ 5ghash

Serious?!?!

[zvs]

sure, I have 8 blocks solved in about 2 months @ 5ghash

Serious?!?!

yah,

it's

https://www.maxbtc.com/top-miners

zevus on there

and i had never mined on there until about 2 months ago.  so, near current difficulty level

[David_Benz]

sure, I have 8 blocks solved in about 2 months @ 5ghash

Serious?!?!

yah,

it's

https://www.maxbtc.com/top-miners

zevus on there

and i had never mined on there until about 2 months ago.  so, near current difficulty level

aahh lol that is a pool bro, I mean solo mining!!!  Not using a pool.

[Newar]

http://www.alloscomp.com/bitcoin/old_calculator.php

https://en.bitcoin.it/wiki/Generation_Calculator

[David_Benz]

http://www.alloscomp.com/bitcoin/old_calculator.php

https://en.bitcoin.it/wiki/Generation_Calculator

Calculators and estimations are great.

But I am looking for a human to tell me from their experiences.

Thanks!

[rjk]

If you can handle the variance, and don't need to use the profits to pay bills....then maybe. I used to recommend 60 or more, but these days I might say closer to 100, especially if you are a bit averse to variance. Take a look at several small pools and find the longest time between blocks - then assume that each block could take that long unless you get lucky.

[David_Benz]

If you can handle the variance, and don't need to use the profits to pay bills....then maybe. I used to recommend 60 or more, but these days I might say closer to 100, especially if you are a bit averse to variance. Take a look at several small pools and find the longest time between blocks - then assume that each block could take that long unless you get lucky.

Cool thanks bro!

[Newar]

Calculators and estimations are great.

But I am looking for a human to tell me from their experiences.

Thanks!

Don't want to be a pain, but how would other peoples' experiences change the fact that it might work for you tomorrow or maybe only in a few months? Or somewhere in between?

If I'd tell you it'll work for you in two weeks and then it doesn't - would this influence your opinion of me?

[David_Benz]

Calculators and estimations are great.

But I am looking for a human to tell me from their experiences.

Thanks!

Don't want to be a pain, but how would other peoples' experiences change the fact that it might work for you tomorrow or maybe only in a few months? Or somewhere in between?

If I'd tell you it'll work for you in two weeks and then it doesn't - would this influence your opinion of me?

I do not like sentences that start with "if" on this forum.

[mdude77]

Title.

I will have 25 Ghash by end of month.  Should I solo mine, or GPUMax still?

Wont I have a decent chance at getting the entire 50 BTC a few times a month?

Ozcoin it.

You _may_ end up ahead soloing, but not likely.

M

[Tittiez]

Solomining, there is a chance you could find 20 blocks in a day, and be totally rich! Or, you may mine for years without a single block. GPUMax + Another Pull guarantees steady payouts and bonus from public work. The only way you would make more solomining was if your lucky. If your not lucky then you could spend eternity without any bitcoins.

Is it worth that chance? I would choose a pool over solomining honestly.

[drakahn]

Gpumax pays better than solomining would equal out to over time

[zvs]

sure, I have 8 blocks solved in about 2 months @ 5ghash

Serious?!?!

yah,

it's

https://www.maxbtc.com/top-miners

zevus on there

and i had never mined on there until about 2 months ago.  so, near current difficulty level

aahh lol that is a pool bro, I mean solo mining!!!  Not using a pool.

so what?  it still shows my shares and blocks solved

did you just buy this 25ghash off of someone recently or something?

wtf

[rjk]

so what?  it still shows my shares and blocks solved

did you just buy this 25ghash off of someone recently or something?

wtf

Solving blocks on a pool is very different from solving them solo. Although it mathematically is the same and will even out over time, in real life it is less than ideal due to a number of factors.

For instance, a pool has a high speed low latency internet connection to push blocks out ASAP, whereas a solo miner's home internet connection might just be a tad slow and result in orphans. And orphans are no fun when it happens after a long run of no blocks, say after a month or so.

[jkminkov]

http://www.alloscomp.com/bitcoin/old_calculator.php

when your 95% average is bellow 24h then you can mine solo, with current difficulty that makes 237Ghash/s, good luck!

[rjk]

http://www.alloscomp.com/bitcoin/old_calculator.php

when your 95% average is bellow 24h then you can mine solo, with current difficulty that makes 237Ghash/s, good luck!

That's not a "requirement" or anything, it's just if you hate risk and variance. If your electricity bill is less than say $350, a block a month would break even.

[jkminkov]

yeah... block a month... but maybe 6 months would pass and difficulty changes 12 times until you find yours...

[kano]

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

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.