Topic: On Solo Mining (Read 126 times)
That's true, solo mining is more profitable because you don't pay fees. However this only applies to coins that have a low ranking, most high market cap coins are not solo-mineable unless you have multiple powerful mining rigs. The problem is probably caused by the lack of support for these low market cap coins, as most high ranked coins have third party software that supports features like this.
Solo mining works best when the coin just launches. I've instamined several blocks and got rich off of some newly launched coins when I got in there the first few minutes and got dozens of blocks right away. Proper coins these days should have instamine protection.
Just a brief commentary on solo mining and I hope this may stir some developers to better supporting solo mining on various coins. Someone recently asked in another forum if solo mining is worth it and what hash rate someone should have for solo mining.
Hash rate required for solo mining is more of a personal preference based on how long you are willing to wait to find blocks. Eventually, you will find blocks but if you are looking for more consistent outputs then a pool is the way to go.
Personally, I look at how many blocks I should get per day and if I can estimate based on calculators that I could get more than 1 block per day solo then I will usually solo mine. Just keep in mind that you may not get 1 block per day even though a calculator says you should. You may not get a block for several days and then you may get a several blocks in one day.
My problem is that too many developers of coins are not allowing the option for solo mining and forcing people to use problematic pools which is actually bad for the coin because, in my experience, I would mine more coins if I could solo mine them because I have really bad luck with pools. I think it is because of my location. I have had far better luck with solo mining for the most part.
Everyone's experience is different. The majority of people reading this are just fine on pools. But there are a lot of people like me who wish solo mining were more accessible for various coins.
Hash rate required for solo mining is more of a personal preference based on how long you are willing to wait to find blocks. Eventually, you will find blocks but if you are looking for more consistent outputs then a pool is the way to go.
Personally, I look at how many blocks I should get per day and if I can estimate based on calculators that I could get more than 1 block per day solo then I will usually solo mine. Just keep in mind that you may not get 1 block per day even though a calculator says you should. You may not get a block for several days and then you may get a several blocks in one day.
My problem is that too many developers of coins are not allowing the option for solo mining and forcing people to use problematic pools which is actually bad for the coin because, in my experience, I would mine more coins if I could solo mine them because I have really bad luck with pools. I think it is because of my location. I have had far better luck with solo mining for the most part.
Everyone's experience is different. The majority of people reading this are just fine on pools. But there are a lot of people like me who wish solo mining were more accessible for various coins.
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