Is it true that mining in a pool gains averagly the same as mining solely? - page 2.

Gorillabiscuits

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Quote from: drakahn on April 20, 2013, 12:28:54 AM

http://allchains.info/calc.html

enter your hashrate and it will tell you the average time to find a block in hours at the bottom.

This is very interesting and I've always been curious about it. Thanks.

drakahn

hero member

Activity: 504

Merit: 500

http://allchains.info/calc.html

enter your hashrate and it will tell you the average time to find a block in hours at the bottom.

kosmonaut

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Quote from: dennis97519 on April 20, 2013, 12:07:45 AM

Quote from: Mike Christ on April 19, 2013, 11:51:40 PM

Quote from: zeryl on April 19, 2013, 11:49:38 PM

My (perhaps limited) knowledge is that mining in a pool will give you more consistent payouts, as you've got the power of the pool behind you. With solo mining, it's a crap shoot. You could get a block on your own in minutes (so very unlikely) or months, if ever. I decided to join a pool to build up a coin-base. If I ever had super high gh/s, perhaps solo, but I just don't think it's worth it to me.

You got it. Mine in the pool and you're guaranteed a payout.

Quote from: dennis97519 on April 19, 2013, 11:50:34 PM

Quote from: Mike Christ on April 19, 2013, 11:47:35 PM

It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.

You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.

not only a while. A year for most of us, except if you have 7500GH/s

Didn't know that! Now solo mining really is out of the question Grin

lol not really that high speed, but slow speed really doesn't yield anything.

So as a rough guide, at which speed would you have better luck solo mining vs pooled?
Has anyone compared say 3000khs solo and pool simultaneously for a set time period
to see which is the better choice (in regards to ltc)?

mcmoneysack

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the thing is.. if you try solo, you can have a LOT of time without mining anything.
in pool... well, it's just a little better Wink

dennis97519

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Quote from: Mike Christ on April 19, 2013, 11:51:40 PM

Quote from: zeryl on April 19, 2013, 11:49:38 PM

My (perhaps limited) knowledge is that mining in a pool will give you more consistent payouts, as you've got the power of the pool behind you. With solo mining, it's a crap shoot. You could get a block on your own in minutes (so very unlikely) or months, if ever. I decided to join a pool to build up a coin-base. If I ever had super high gh/s, perhaps solo, but I just don't think it's worth it to me.

You got it. Mine in the pool and you're guaranteed a payout.

Quote from: dennis97519 on April 19, 2013, 11:50:34 PM

Quote from: Mike Christ on April 19, 2013, 11:47:35 PM

It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.

You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.

not only a while. A year for most of us, except if you have 7500GH/s

Didn't know that! Now solo mining really is out of the question Grin

lol not really that high speed, but slow speed really doesn't yield anything.

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: zeryl on April 19, 2013, 11:49:38 PM

My (perhaps limited) knowledge is that mining in a pool will give you more consistent payouts, as you've got the power of the pool behind you. With solo mining, it's a crap shoot. You could get a block on your own in minutes (so very unlikely) or months, if ever. I decided to join a pool to build up a coin-base. If I ever had super high gh/s, perhaps solo, but I just don't think it's worth it to me.

You got it. Mine in the pool and you're guaranteed a payout.

Quote from: dennis97519 on April 19, 2013, 11:50:34 PM

Quote from: Mike Christ on April 19, 2013, 11:47:35 PM

It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.

You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.

not only a while. A year for most of us, except if you have 7500GH/s

Didn't know that! Now solo mining really is out of the question Grin

drakahn

hero member

Activity: 504

Merit: 500

Quote from: zhangweiwu on April 19, 2013, 11:36:18 PM

and can stand 4 years of labour without any gain

4 years is a bit much, you might not find a block until after the reward halves, in which case a pool would actually have payed more

dennis97519

jr. member

Activity: 58

Merit: 1

Quote from: Mike Christ on April 19, 2013, 11:47:35 PM

It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.

You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.

not only a while. A year for most of us, except if you have 7500GH/s

zeryl

newbie

Activity: 14

Merit: 0

My (perhaps limited) knowledge is that mining in a pool will give you more consistent payouts, as you've got the power of the pool behind you. With solo mining, it's a crap shoot. You could get a block on your own in minutes (so very unlikely) or months, if ever. I decided to join a pool to build up a coin-base. If I ever had super high gh/s, perhaps solo, but I just don't think it's worth it to me.

Mike Christ

legendary

Activity: 1078

Merit: 1003

It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.

You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.

cp1

hero member

Activity: 616

Merit: 500

Stop using branwallets

Mining in a pool actually gives you less because the pool charges a fee of 1 - 5%.

zhangweiwu

sr. member

Activity: 313

Merit: 250

Hello. I was told mining in a pool is to let you gain steadily, not to let you gain more. That infers, mining in a pool gains averagly the same as mining solely.

That cannot explain why 90% users mine in pools. If it is in their nature to avoid risk, then they probably wouldn't invest in mining bitcoin in the first place. So is it really true that besides the advantage of stability of gain, there is no advantage of gain itself, in average, by joining a pool?

I am going to mine solely because I prefer the thrill of getting a lot of coins and can stand 4 years of labour without any gain, but only if the gain is averagely the same.

Topic: Is it true that mining in a pool gains averagly the same as mining solely? - page 2. (Read 1235 times)