Topic: Solo each rig or pool (Read 1898 times)
Pool for this as the total rate is very horrible. Next years will be more and more
Unless you got some serious hashing power dont even think about solo. 300 is unfortunately nothing anymore :-(
Simple math:
Block are found (averaged) every nine minutes.
There are ( [24 hours per day] x [60 mins per hour] ) / [9 mins per block] = [160 blocks per day].
Therefore: ( [Network hashrate] / [Your hashrate] ) / [160 blocks per day] = [Payout days per block]
So if you've got e.g. 2x 60 GH/s BFL boxes on order, and you figure the network will be running at ≲ 400 TH/s when you get them, solo mining should return (initially)
( [400000 GH/s] / [120 GH/s] ) / [160 blocks per day] ≅ [21 days per block] (average)
Which, to me, is better than having a percentage skimmed of the top, but your mileage may vary. Obviously there's a real risk of serious bad luck meaning no payout for a year - but then pure chance could also result in scoring a block on say three consecutive days.
Block are found (averaged) every nine minutes.
There are ( [24 hours per day] x [60 mins per hour] ) / [9 mins per block] = [160 blocks per day].
Therefore: ( [Network hashrate] / [Your hashrate] ) / [160 blocks per day] = [Payout days per block]
So if you've got e.g. 2x 60 GH/s BFL boxes on order, and you figure the network will be running at ≲ 400 TH/s when you get them, solo mining should return (initially)
( [400000 GH/s] / [120 GH/s] ) / [160 blocks per day] ≅ [21 days per block] (average)
Which, to me, is better than having a percentage skimmed of the top, but your mileage may vary. Obviously there's a real risk of serious bad luck meaning no payout for a year - but then pure chance could also result in scoring a block on say three consecutive days.
But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
Comes down to how long are you willing to wait between finding blocks. I'd think that a block every 2 days would be what you want, that is 0.0035% of the network, at 197Th now, about 680Gh.Interesting -- so if someone has two BFL minirigs it could be worth it.
Yes, if you had 2 x 1.5TH/s = 3 TH/s you would currently be finding on average 1 or 2 blocks per day...
But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
Comes down to how long are you willing to wait between finding blocks. I'd think that a block every 2 days would be what you want, that is 0.0035% of the network, at 197Th now, about 680Gh.Interesting -- so if someone has two BFL minirigs it could be worth it.
It seems to me it would be better to do the private pool so the rigs don't work against eachother.
Is that how it works?
No. You can simply point all your rigs to your instance of bitcoin-qt and it will know to give different work units to each rig. Is that how it works?
But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
Comes down to how long are you willing to wait between finding blocks. I'd think that a block every 2 days would be what you want, that is 0.0035% of the network, at 197Th now, about 680Gh. Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
once and a while= never 
unless you have a very large farm(not of gpu)
or good luck...
But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
once and a while= never unless you have a very large farm(not of gpu)
Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
How can you calculate the probabilities. I have 300 Mhash and I was thinking its not enough to solo mine on btc but probably enough to solo mine on some altcoins.
I still use http://www.alloscomp.com/bitcoin/old_calculator.php to calculate probability
300MH/sec would have a 50% probability of finding a block after hashing continuously for 2221 days, 5 hours, 54 minutes (roughly 6 years) at current difficulty.
but really thanks. its a helpful site
Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
How can you calculate the probabilities. I have 300 Mhash and I was thinking its not enough to solo mine on btc but probably enough to solo mine on some altcoins.
I still use http://www.alloscomp.com/bitcoin/old_calculator.php to calculate probability
300MH/sec would have a 50% probability of finding a block after hashing continuously for 2221 days, 5 hours, 54 minutes (roughly 6 years) at current difficulty.
I would go with a pool, more easy and simple.
Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
How can you calculate the probabilities. I have 300 Mhash and I was thinking its not enough to solo mine on btc but probably enough to solo mine on some altcoins.
Probabilities work out instead of getting .01 bitcoin all the time, you get 25 every once and a while.
hello all,
Looking for opinions on this.
Say you 4 mining rigs and want to solo mine.
Is it better to point each one at the client, or make a private pool to point at the client.
It seems to me it would be better to do the private pool so the rigs don't work against eachother.
Is that how it works?
Just wondering, and yes I know 4 rigs is not much to solo mine, but wondering how the probabilitys work out.
Anyone know?
Edit:
I think I didn't state it clearly. My bad.
I mean having each rig point at MY bitcoin-qt, each rig solo mining by itself.
OR making my own pool with just MY rigs, and pointing the pool at MY bitcoin-qt, basicly solo mining with my OWN pool.
Maybe that states it better. Sorry for the mix-up
Looking for opinions on this.
Say you 4 mining rigs and want to solo mine.
Is it better to point each one at the client, or make a private pool to point at the client.
It seems to me it would be better to do the private pool so the rigs don't work against eachother.
Is that how it works?
Just wondering, and yes I know 4 rigs is not much to solo mine, but wondering how the probabilitys work out.
Anyone know?
Edit:
I think I didn't state it clearly. My bad.
I mean having each rig point at MY bitcoin-qt, each rig solo mining by itself.
OR making my own pool with just MY rigs, and pointing the pool at MY bitcoin-qt, basicly solo mining with my OWN pool.
Maybe that states it better. Sorry for the mix-up
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