Topic: Scenario Saturday: You have 500 TH/s to work with and no energy costs. (Read 1083 times)
March 28, 2017, 01:30:36 PM
remember the smaller the pool the higher the variance and the more inconsistent the payout. For consistent revenue you want to be on a pool with a decent amount of hashrate to minimize this. I would personally never join a pool under 50ph for this reason.
March 28, 2017, 11:53:29 AM
I would join a very small cheap pool
March 28, 2017, 01:40:24 AM
i would mine solo only if the average to find a block is at worst 2 weeks, to stay in the current average increase of the diff
i mean i would have the possibility to find a block before the diff increase, therefore you need something like 1500 TH
you are not so far away if you add 2x what you have in your example, it might be worth it to try solo
i mean i would have the possibility to find a block before the diff increase, therefore you need something like 1500 TH
you are not so far away if you add 2x what you have in your example, it might be worth it to try solo
March 28, 2017, 12:22:00 AM
Pool - but I'd have to give some thought to setting up my own pool and perhaps gaining some extra revenue through user fees.
8-)
8-)
March 27, 2017, 08:41:07 PM
I wouldnt solo mine unless you have multiple petahash at your disposal. 500th is just a drop in the bucket these days.
March 26, 2017, 07:00:25 PM
According to a mining calculator, at current difficulty you would mining a block roughly every 47 days. At this rate, variance would still be very significant and you wouldn't want to live in the knowledge that you could have to keep living on the same block for a much longer time than expected at any point. For that reason, I would suggest using a pool.
But since pools can take fees and even if they're low they can be annoying, plus the Bitcoin network needs some help decentralising into a collection of many different pools, the best solution shouldn't be to join a pool but to start a pool. With your hashrate you would already be bigger than some smaller pools yourself, so I would start your own pool with negligible fees (maybe 0.1-0.3%) and then advertise your pool for its low fees and soon enough miners will join to decrease the variance. You should also limit your pool so that it couldn't have more than 1% of the network's total hash rate, in the spirit of decentralisation.
Even though with this setup you'd be generating a Bitcoin every ~4 days, you should still have a backup - at least have some skills that could be applicable to other jobs if the difficulty or state of the Bitcoin network changes and it becomes harder for you to earn.
But since pools can take fees and even if they're low they can be annoying, plus the Bitcoin network needs some help decentralising into a collection of many different pools, the best solution shouldn't be to join a pool but to start a pool. With your hashrate you would already be bigger than some smaller pools yourself, so I would start your own pool with negligible fees (maybe 0.1-0.3%) and then advertise your pool for its low fees and soon enough miners will join to decrease the variance. You should also limit your pool so that it couldn't have more than 1% of the network's total hash rate, in the spirit of decentralisation.
Even though with this setup you'd be generating a Bitcoin every ~4 days, you should still have a backup - at least have some skills that could be applicable to other jobs if the difficulty or state of the Bitcoin network changes and it becomes harder for you to earn.
Interesting replies from everybody so far! I hear you on the having a backup plan. I suppose an advantage of using S9s or any Sha256 compatible miner is that, if Bitcoin fails, there are other coins that are profitable today with the same equipment. Alternatively, you could liquidate your miners and sell them for cash for another venture! What are your thoughts there?
It seems like the rate of income from a total hashrate like 500TH/s or 1PH/s would pay the equipment off in 1-2 years, so as long as that goes well -- you're profiting. It doesn't seem any less risky to me than any other venture. I'd be willing to bet bars and restaurants fail with a much higher rate than cryptocurrency farms, to date! Though, I guess there's no way to prove that.
March 26, 2017, 03:39:01 PM
According to a mining calculator, at current difficulty you would mining a block roughly every 47 days. At this rate, variance would still be very significant and you wouldn't want to live in the knowledge that you could have to keep living on the same block for a much longer time than expected at any point. For that reason, I would suggest using a pool.
But since pools can take fees and even if they're low they can be annoying, plus the Bitcoin network needs some help decentralising into a collection of many different pools, the best solution shouldn't be to join a pool but to start a pool. With your hashrate you would already be bigger than some smaller pools yourself, so I would start your own pool with negligible fees (maybe 0.1-0.3%) and then advertise your pool for its low fees and soon enough miners will join to decrease the variance. You should also limit your pool so that it couldn't have more than 1% of the network's total hash rate, in the spirit of decentralisation.
Even though with this setup you'd be generating a Bitcoin every ~4 days, you should still have a backup - at least have some skills that could be applicable to other jobs if the difficulty or state of the Bitcoin network changes and it becomes harder for you to earn.
But since pools can take fees and even if they're low they can be annoying, plus the Bitcoin network needs some help decentralising into a collection of many different pools, the best solution shouldn't be to join a pool but to start a pool. With your hashrate you would already be bigger than some smaller pools yourself, so I would start your own pool with negligible fees (maybe 0.1-0.3%) and then advertise your pool for its low fees and soon enough miners will join to decrease the variance. You should also limit your pool so that it couldn't have more than 1% of the network's total hash rate, in the spirit of decentralisation.
Even though with this setup you'd be generating a Bitcoin every ~4 days, you should still have a backup - at least have some skills that could be applicable to other jobs if the difficulty or state of the Bitcoin network changes and it becomes harder for you to earn.
March 26, 2017, 01:08:51 PM
depends if you consider the miners all ready "disposable" or if you have a huge commitment in a return.
it is better if you chuck your power on a pool for a more reliable return, but personally, if I had 500th/s to "play" with, I would make my own pool and effectively solo mine and if anyone wanted to hop on my train, the more the merrier lol
it is better if you chuck your power on a pool for a more reliable return, but personally, if I had 500th/s to "play" with, I would make my own pool and effectively solo mine and if anyone wanted to hop on my train, the more the merrier lol
March 25, 2017, 04:35:25 PM
I'd pool mine for more consistent payouts. Unless you truly mine by the PH/s, it's generally not worth solomine because of the deviation from the expected return from mining. That'd be quite the dream to have such a facility!
March 25, 2017, 04:30:25 PM
Hypothetically, you have 40 Antminer S9s, running at a total of 500 TH/s.
Energy costs are covered or negligible.
You have plenty of land.
Do you choose to mine solo or utilize a pool?
What do you do to become profitable?
Energy costs are covered or negligible.
You have plenty of land.
Do you choose to mine solo or utilize a pool?
What do you do to become profitable?
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