Topic: Is it wrong to try your luck with Solo (Read 409 times)

The 2 best that come to mind are:
kano.is Registration required, many nodes around the planet, lowest fee
solo.ckpool.org only need a wallet address for payout, only 1 node so ping times could be an issue

Bitcoin Mining Sites available now?

Money today is worth more than money later. Imagine a mining pool that takes a 5% fee (which is rather high, but just an example). If you'll eventually get a full block mining solo, or you'll get 95% of that payout over the same period of time from a mining pool, you should still choose the mining pool. If you get 10% of your funds in the first year but can then invest it, you can beat the fees over the time period it'd take to find a block solo.

I would say if you can mine a 110 th miner at zero cost it makes $8.80 a day for sure on a pool like viabtc.

8.80 x 365 = $3212 a year for sure.


solo is all or nothing

so after a year it most likely will not hit a block

 so 3212 or 0 is the most likely out come if he mines all viabtc or all solo.


If you let me mine 1 s19 pro and no power cost I would mine it for 300 days on viabtc and 65 days on solo

getting a certain 300 x 8.80 = 2640. and many shots at a block  during those 65 days of solo mining.

As long as you are not directly paying for the electricity, of course it's worth it. The only real question is will the 'free electricity' continue after whoever IS paying for it sees how much power you are using 24x7x365?

Please elaborate what stats are you talking about? I am intrigued, I have been thinking about solo for a long time, would love to learn more about this topic.

and this is why I point 2.5ph to a ppns pool and only 19th to a solo styled pool

Agreed, I think he meant it this way, but unfortunately, even with that meaning it's pretty much false, your chances of hitting a block mining solo are exactly the same as your chances of mining the equivalent of a whole block while mining to a pool.


With everything being equal, if your miner with 100% luck is supposed to hit a block in 10 years, if you mine to a pool for 10 years and combine your payouts, you will end up with a whole block reward.

I am seeing more and more "free electricity" to mean 'my landlord charges me a fixed amount if I use it or not, so screw them I am going to use all of it'
Just ran into that with a customer that it happened to in the start of the year. They went from metered ($75 to $90 a month) to a fixed amount ($178.00 a month) so now PCs don't get shut off at night, who cares if you leave lights on when you go home and a pair of L3+ are now humming away in a unused space. Because....screw them.

Back to this.
If you don't need the money coming in and want to play the lottery then going solo is fine. Could be a big score one day. Or you could be felling like the people who bet on Philadelphia to win the Super Bowl last weekend.

-Dave

You misunderstand his statement. Here is another way of writing what he said:

If I mine on a shared pool my odds of winning a solo block all to myself are zero.

If I mine on a solo pool my odds of winning a solo block are unlikely  but far far better than zero.


and another way would be.

you can't win a solo block on a shared pool. since you do must share with the other miners.

in a way he was being a bit sarcastic with his statement.


####################################################################
#####################################################################

Shared pool by definition means shared odds of winning a solo block are impossible.

Mining solo means you take it all no sharing. It is unlikely to win a block but you can win one or more every day you point gear to a solo setup.




off topic:

 I mine at a small pool with a password to mine only.

https://pool.laurentiapool.org/#/work

146UJM5kgzLVUV23CXCf33KQKHckoX1gx3  will get 2.19 coins if we hit a block


now the pool has 222th which means $15.55 in earnings a day if it was not solo. a block is $132,000. so the shot of us hitting a block is 8500 to 1

but even at those odds it is not a solo block it would be shared with 4 miners.  Its close to solo for 3 of the miners the rewards are very nice, but it is not solo and at the moment it can not be solo for the next block since 4 miners have shares and will get some of the coins.

That doesn't sound right, judging from how many users tell you that the chance is only around 2% within a year. Not to mention the difficulty is going to fluctuate, and I bet it will increase and just lower your chance even further. Doesn't really matter whether you have free electricity or not if you will never get it in the first place. Can you show us the math?

Based on my experience, I only saw one post from a lottery miner in this forum, while the rest are just talking about probability, etc. Most of the time they are just doing it for fun, so if profit is your goal, mining with a pool is arguably more profitable & efficient. CMIIW.

IMHO, solo mining is absolutely worth it. You will learn so much about the mining software, hardware and become a better bitcoiner for it. It’s exciting to watch your best share over time and see how close you are to hitting the target difficulty. And if you are into stats, your chance of winning a block reward solo mining is infinitely higher than with a pool 

I mean solo mining with asic, stable internet connection, without node.

Or only 0.5% solo on kano.is

I don't think there's a difference between them are you talking about solo mining with your node? Then it's not worth it if you only have one unit and unstable internet because the block you found might become an orphan.
Mining solo on both mining pools only takes 2% of the block reward that you mine plus transaction fees.

What do you mean with 9 days and 1 day.
What is the diferent betwen solo pools viabtc vs. ckpool vs. solomining ?

If he has 1 unit and zero  power cost to mine the correct choice is

 90% to  mine safe 10% to mine solo

 or 80% to mine safe 20% to mine solo

not 100% to mine  solo.

Not much debate here pretty much cut and dried.

Hell I mine high risk at this pool

https://pool.laurentiapool.org/#/work

we should hit a block in more than 10 years time

I am miner 146U...1gx3

I point 20th and rent 500th every once in a while.


but I point 1.8ph to a safe pool and take 1800 x 0.00000314 = 0.005652 btc a day or  2 coins a year.

When the halving will happen only one thing is for sure, the reward will drop from 6.25 to 3.125.

Nobody knows what the difficulty will be and how it will react, but normally you would expect the difficulty to actually drop since there is less reward in mining, the revue drops also by half so some miners won't be that happy to mine anymore if instead of 10$ revenue with 6$ costs, you have 5$ revenue with $6 costs. It will depend a lot on what the prices are at that time and if even halving the profit margins would be enough to keep miners running.
But! for sure it won't mean the difficulty will double overnight!

As for the other free electricity issue, I knew I saw OP on another topic, so this is the "free" electricity some of you were curious about

Er?
Regarding the highlighted part, try moving the decimal point many many times to the left....  for any single piece of hardware regardless of its speed we're looking at ballpark of 0.00000000000000000001% chance (not a real calculation but you get the point...)

It won't matter anymore when the next Bitcoin halving is here, that 6BTC per block will be reduced and a 110TH will have only 1% chance of solving a block compare to when it was 2%, the difficulty will rise more and the block will bring only 3BTC. There are many people doing solo and they don't have any luck while someone with less TH will solve a block in few months, It's a game of lucky.