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Author Topic: Mining Bitcoin solo  (Read 5087 times)
zen2
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November 23, 2014, 12:34:31 PM
 #1

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.
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November 23, 2014, 01:52:40 PM
 #2

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


It is possible to find a block even with 1GH/s, but highly unlikely. Without any difficulty increase it will take an average of ~80 days to find a block with 25TH/s, but you might be lucky to find 2+ blocks in those 80 days or you can find a block in 1 year.

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
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November 23, 2014, 03:13:15 PM
 #3

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


What is your goal with solo mining? If you are trying to profit from mining, look else where.
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November 23, 2014, 05:00:24 PM
 #4

Hi i see the network of bitcoin have not many miners like i thought

How have you come to this conclusion?

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
bitkings
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November 23, 2014, 06:14:46 PM
 #5

Definitely, you can, even for as less as 100GH/S, you can always do solo-mining, but you just have to download all the blockchain data which is like 20Gb....
goozman96
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November 23, 2014, 06:43:52 PM
 #6

Definitely, you can, even for as less as 100GH/S, you can always do solo-mining, but you just have to download all the blockchain data which is like 20Gb....
You can do solo mining via offered services too, such as http://solo.ckpool.org/

BTC: 19DKtsdGfQyFzNiEze9KuFQrWGiLDvg6F1 | LTC: LbV6UGyjYbVP49NvQFmuAnkADcaFYvNagK | NMC: NDCdMJmTmGH54Cezmo3CwSxAC7grAoZJbj
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November 24, 2014, 01:51:47 PM
 #7

Definitely, you can, even for as less as 100GH/S, you can always do solo-mining, but you just have to download all the blockchain data which is like 20Gb....
You can do solo mining via offered services too, such as http://solo.ckpool.org/
This is the simplest way to do it, and is ran by CK on here (he created CGminer)














 

 

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Rabinovitch
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November 25, 2014, 04:28:17 PM
 #8

What is your goal with solo mining? If you are trying to profit from mining, look else where.
Yep, with 25 Th it's better mine at pool - same profit for several monthes (3-4) as if he catch a block...

From Siberia with love!
Never do any business with Kirill Stepanenko (Volgograd, Russia)
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November 29, 2014, 12:15:33 PM
 #9

At 40 BILLION difficulty, solo mining bitcoin is like climbing up the side of a mountain by yourself with a hammer and chisel and starting to create the next Mount Rushmore.

That odd analogy just came to me, so I had to type it.

So in other words, don't bother solo mining.  No profit.  And if there's no profit, it ain't worth doing.
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December 01, 2014, 05:50:52 AM
 #10

At 40 BILLION difficulty, solo mining bitcoin is like climbing up the side of a mountain by yourself with a hammer and chisel and starting to create the next Mount Rushmore.

That odd analogy just came to me, so I had to type it.

So in other words, don't bother solo mining.  No profit.  And if there's no profit, it ain't worth doing.
Nice analogy. But there's still always the possibility of finding a block. Winning the lottery isn't probable, but millions still play it.

BTC: 19DKtsdGfQyFzNiEze9KuFQrWGiLDvg6F1 | LTC: LbV6UGyjYbVP49NvQFmuAnkADcaFYvNagK | NMC: NDCdMJmTmGH54Cezmo3CwSxAC7grAoZJbj
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December 01, 2014, 06:26:40 AM
 #11

At 40 BILLION difficulty, solo mining bitcoin is like climbing up the side of a mountain by yourself with a hammer and chisel and starting to create the next Mount Rushmore.

That odd analogy just came to me, so I had to type it.

So in other words, don't bother solo mining.  No profit.  And if there's no profit, it ain't worth doing.
Nice analogy. But there's still always the possibility of finding a block. Winning the lottery isn't probable, but millions still play it.


Finding a block will net around 9.5K(USD) worth of bitcoin at current price.
I'm not familiar witrh the lottery system you guys have there so I can't really say  how much a lottery win stacks to this in terms of cost(lottery ticket vs mining rig purchase and maintenance) and winning odds.
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December 01, 2014, 06:33:26 AM
 #12

At 40 BILLION difficulty, solo mining bitcoin is like climbing up the side of a mountain by yourself with a hammer and chisel and starting to create the next Mount Rushmore.

That odd analogy just came to me, so I had to type it.

So in other words, don't bother solo mining.  No profit.  And if there's no profit, it ain't worth doing.
Nice analogy. But there's still always the possibility of finding a block. Winning the lottery isn't probable, but millions still play it.


Finding a block will net around 9.5K(USD) worth of bitcoin at current price.
I'm not familiar witrh the lottery system you guys have there so I can't really say  how much a lottery win stacks to this in terms of cost(lottery ticket vs mining rig purchase and maintenance) and winning odds.

Essentially solo mining is a game of odds, you could find a block in 10 seconds or it could take you 1 year (highly exaggerated) where as pooled mining payouts are more regular (although chance still plays a part).
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December 01, 2014, 10:15:17 AM
 #13

Its possible but the chance isn't that big you found a block.
allcoinminer
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December 01, 2014, 10:41:41 AM
 #14

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


A straight answer to your question is no your effort is not value for the time spent to find the block.
Your 25TH is a little more, but that's not enough to think to do solo mining.
If you only want to consider it as a lottery then try it, but power consumption will be a major issue.
Consider pool mining with your 25TH if you get more than what you spend on electricity charge.
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December 01, 2014, 01:34:21 PM
 #15

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


I actually prefer not to solo mining as its consider gambling. And I prefer primedice for that..

thompete
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December 01, 2014, 02:01:17 PM
 #16

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


I actually prefer not to solo mining as its consider gambling. And I prefer primedice for that..

Well not everyone considers mining as gambling Smiley
You can definitely catch a block solo mining at 25th/s. But there is always a factor of luck with it .

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December 02, 2014, 07:46:58 PM
 #17

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.

that's impossible things
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December 03, 2014, 11:48:00 PM
 #18

At 40 BILLION difficulty, solo mining bitcoin is like climbing up the side of a mountain by yourself with a hammer and chisel and starting to create the next Mount Rushmore.

That odd analogy just came to me, so I had to type it.

So in other words, don't bother solo mining.  No profit.  And if there's no profit, it ain't worth doing.
Nice analogy. But there's still always the possibility of finding a block. Winning the lottery isn't probable, but millions still play it.

Solo mining will only make you save the third party risk and fee of the pool so it's barely adding variance to your result and huge variance since you could easily mine 6months and not find a block or get a lower than expected result for years.

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cyberpinoy
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December 04, 2014, 02:51:54 AM
 #19

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


Yes it is possible with a little luck, with 25Thash of power you should reasonably be able to produce roughly 500 million shares or more a day. so feasably with some luck you could certainly hit a block.

Proof Smiley for you "You can never solo mine its not worth it you will NEVER solve a block" Junkies. Here is how many shares it took for the last few block on the Bitcoin Affiiate Network Mining pool (The best mining pool in the world) i mine in who has had some pretty good luck past couple days.

332726     1,109,971,162   <-------- 1 Billion only
332719   67,048,976,224   
332598   36,691,044,876   
332497       342,491,990   <-------- 342 Million only
332496   27,023,335,912

So to honestly and unbiasedly answer your question YES with a little luck and 25 THS you Could, COULD, POSSIBLY solve a block.

You could also mine for 3 or more months and not solve anything Smiley

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December 04, 2014, 04:06:37 PM
 #20

Hi i see the network of bitcoin have not many miners like i thought because of pools i guess, is it possible then
to start solo mining for example with 25 TH/s and catch block with little luck??

Thank you in advance for your time.


Yes it is possible with a little luck, with 25Thash of power you should reasonably be able to produce roughly 500 million shares or more a day. so feasably with some luck you could certainly hit a block.

Proof Smiley for you "You can never solo mine its not worth it you will NEVER solve a block" Junkies. Here is how many shares it took for the last few block on the Bitcoin Affiiate Network Mining pool (The best mining pool in the world) i mine in who has had some pretty good luck past couple days.

332726     1,109,971,162   <-------- 1 Billion only
332719   67,048,976,224   
332598   36,691,044,876   
332497       342,491,990   <-------- 342 Million only
332496   27,023,335,912

So to honestly and unbiasedly answer your question YES with a little luck and 25 THS you Could, COULD, POSSIBLY solve a block.

You could also mine for 3 or more months and not solve anything Smiley

This is called Gambling.

If you mine in a pool you will lose 1% of the expected revenue but you will destroy variance.

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