Mining Bitcoin solo

[joyjeet]

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 think neither solo mining nor cloud mining is profitable, hence mining in itself is not profitable for a long run, and now as time passes by with less BTC for miners as rewards for finding block chain would come into existence hence it would be more and more risky to gain something out of mining

[picolo]

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 think neither solo mining nor cloud mining is profitable, hence mining in itself is not profitable for a long run, and now as time passes by with less BTC for miners as rewards for finding block chain would come into existence hence it would be more and more risky to gain something out of mining

When the price of Bitcoin rises, buying new equipment can become profitable so people are buying new equipment and the network power increases.

The high maintenance cost will be less in BTC if the price of Bitcoin rises and mining Bitcoin can become more profitable.

You can ROI on cloudmining websites that offers GHS for a cheap price and have low maintenance costs.

[n3rvi0zz0]

I have another 25th we can do a node together and share the rewards i have another post https://bitcointalk.org/index.php?topic=885286.0 in mining support


let me know if you have any advance

thanks

[sherbyspark]

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 think neither solo mining nor cloud mining is profitable, hence mining in itself is not profitable for a long run, and now as time passes by with less BTC for miners as rewards for finding block chain would come into existence hence it would be more and more risky to gain something out of mining

That might also mean that the price will be driven up as less miners will dump.
THis might start happening by next year.

[[DnA]]

Try other sha256 based coin with low global hashrate 

[SargeR33]

One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.

[Amph]

One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.

well 6 month ago was surely easy(diff was lower), and with two tera it may be possible

[SargeR33]

One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.

well 6 month ago was surely easy(diff was lower), and with two tera it may be possible

Yeah unfortunately with the drop in bitcoin value, we all hoped for a drop in difficulty...

42,900,493,761 (+3.94%)

God damnit.

[Rabinovitch]

hence mining in itself is not profitable for a long run

Even if it is - this is only at current bitcoin price in fiat money.

[resources]

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.

If you are just depending on luck then why to use 25ths. Just mine with 1 mhash.                                                                                                                               

[gkahr78]

That's how I do it. I start my old S1 a few times a week for a few hours and have it pointed to a solo polo. Just testing my luck and enjoy the humming of my S1. I am long out of the mining game but I like this cheap form of gambling.

I learned the hard way that buying BTC is much cheaper for me than buying miner, psu, raspi's and pay for electricity (and time invested doing setup or maintenance).

[Vyazhan]

Heya,

I think this will be made possible with some smaller devices by Spondoolies Tech later this year, at least it was on Guy's Agenda to make it fun for home miners to take their chances, kind of like the TechnoBit Lottery device, just a bit more efficient and good-looking

All the best

[gkahr78]

I ordered a DICE from technobit to replace my power-hungry S1 I have been using for a while now.

[SargeR33]

I am curious, as to how does the number of people mining affect the mining difficulty ?

The number of people mining has no effect, the hashrate does. You could have 1000 people mining at 1ghash each vs 100 people mining at 1 thash each. The latter will raise the difficulty much higher.

[avw1982]

One of the guys I bought my old miners from was solo mining, in 6 months he found two, yes TWO blocks with 2.25thash.

Off-course it could happen. It has also to do with a little bit luck.