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Topic: Mining Bitcoin solo - page 2. (Read 5220 times)

full member
Activity: 224
Merit: 100
December 01, 2014, 10:01:17 AM
#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..

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 .
sr. member
Activity: 285
Merit: 250
December 01, 2014, 09:34:21 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.


I actually prefer not to solo mining as its consider gambling. And I prefer primedice for that..
hero member
Activity: 784
Merit: 504
December 01, 2014, 06:41:41 AM
#13
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.
hero member
Activity: 644
Merit: 500
December 01, 2014, 06:15:17 AM
#12
Its possible but the chance isn't that big you found a block.
newbie
Activity: 42
Merit: 0
December 01, 2014, 02:33:26 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.

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).
full member
Activity: 195
Merit: 100
December 01, 2014, 02:26:40 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.


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.
hero member
Activity: 728
Merit: 500
December 01, 2014, 01:50:52 AM
#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.
Nice analogy. But there's still always the possibility of finding a block. Winning the lottery isn't probable, but millions still play it.
hero member
Activity: 955
Merit: 1004
November 29, 2014, 08:15:33 AM
#8
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.
legendary
Activity: 2030
Merit: 1076
BTCLife.global participant
November 25, 2014, 12:28:17 PM
#7
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...
hero member
Activity: 728
Merit: 500
November 23, 2014, 02:43:52 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/
newbie
Activity: 56
Merit: 0
November 23, 2014, 02:14:46 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....
legendary
Activity: 3578
Merit: 1090
Think for yourself
November 23, 2014, 01:00:24 PM
#4
Hi i see the network of bitcoin have not many miners like i thought

How have you come to this conclusion?
full member
Activity: 153
Merit: 100
November 23, 2014, 11:13:15 AM
#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.
legendary
Activity: 1904
Merit: 1007
November 23, 2014, 09:52:40 AM
#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.
full member
Activity: 155
Merit: 100
November 23, 2014, 08:34:31 AM
#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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