Topic: I'm torn between Solo mining and Pool Mining - page 2. (Read 4582 times)
It is important to remember that you would not have found those 3 blocks if you were mining solo. The header you were hashing for the pool would have been different than the header you would have hashed for yourself. Thus, you can't make the comparison. If you had mined solo, you might have found 10 blocks, you might have found 0 blocks. Likely, you would have found 1 block.
You are running like God in terms of finding blocks.
Going from memory, 1GH/sec in mid-June was expected to find 1 block every 90 days running 24/7. And obviously, with every difficulty increase the expected number of days should increase.
There's really no compelling argument not to join a zero-fee pool, aside from not wanting to participate in a pool that is nearing the 50% mark.
Just make sure you have a backup pool to deal with the annoying DDoS attacks.
Going from memory, 1GH/sec in mid-June was expected to find 1 block every 90 days running 24/7. And obviously, with every difficulty increase the expected number of days should increase.
There's really no compelling argument not to join a zero-fee pool, aside from not wanting to participate in a pool that is nearing the 50% mark.
Just make sure you have a backup pool to deal with the annoying DDoS attacks.
I think that it'll be less disheartening to solo mine once the rigs have been paid for since the main fear for most people is not being able to pay for their rigs.
I've been having the same psychological dilemma. So, I'm doing a test. I stuck a piece of tape to my computer and wrote things on it like "000000000000000000000000000000000000000" and "50 BTC" and "Solo Solo Solo Solo" to try to kick it's ass in gear 
i am almost positive that solo mining for people with smaller amounts of mh/s are over for the most part if you want to pay
off your hardware. and by smaller i mean under 10 gh/s.
personally? i have found two blocks but also have taken about 80+ BTC from pools.. it just averages out over time.
off your hardware. and by smaller i mean under 10 gh/s.
personally? i have found two blocks but also have taken about 80+ BTC from pools.. it just averages out over time.
I was behind for a long time, and lately I've caught up to myself (in that the payouts from pools I've been mining is nearly equal with the number of blocks I have found for the pools). So, I'm actually a little ambivalent these days, more so than I used to be. I'd say one advantage to pools is the ability to react to market volatility. Bitcoin prices surge to 1000 USD per coin? You better believe I'm going to be really happy about the 3BTC/day I get from pools, and really really unhappy if I mine for a few weeks and find nothing solo (and prices plummet back to $3 / coin).
If you're in it for the long haul, I'd say solo mine, you pay no fees, have no stale shares, and so should theoretically come out slightly ahead in the long run. If you're looking to cash out of the magical money fountain at any moment, I suggest pools.
If you're in it for the long haul, I'd say solo mine, you pay no fees, have no stale shares, and so should theoretically come out slightly ahead in the long run. If you're looking to cash out of the magical money fountain at any moment, I suggest pools.
Solo mining is highly dependent on luck. You found 3 blocks in 2 months but in many alternative universes you found 0.
You are in a lucky streak at the moment but luck is a fickle lady. Also, you past performance has no bearing on your future performance.
You will definitely wish you were mining on a pool after a 2 month dry spell of solo mining as you will be running at a net loss for those two months.
Ultimately, it is up to your tolerance of risk.
You will definitely wish you were mining on a pool after a 2 month dry spell of solo mining as you will be running at a net loss for those two months.
Ultimately, it is up to your tolerance of risk.
So here is the story. I've been mining since mid June and by July I had 3GHash/s. Since I've been mining on deepbit I have found 3 blocks; two in the last difficulty and 1 in the current difficulty. Also I've only mined about 67 bitcoins in the pools. So I'm missing out on many many bitcoins...
So does anyone have a compelling argument for either solo mining or pooled mining??
So does anyone have a compelling argument for either solo mining or pooled mining??
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