Topic: Solo mining in 2014 (Read 2342 times)
Solo mining is pretty much pointless and every one stopped to this many months ago.
Well, I quit the solo BTC mining days ago, shortly after my post. I'm mining altcoins. Finding lots of blocks. I'll check out coinwarz.com and mine what's on top for a bit. It's working!!
I just figured out how to solo mine today. Well, I never really tried before today. I have ~105Gh of BFL's. I figure between now and May, I'll pool mine ~1.5 btc with them. That's ~$1200, or ~$12 a day. I'm selling them on ebay in April/May to the next sucker. I'm going to buy 0.25 btc/week between now and then hedging a rise in btc price. But if I'm really really really really lucky, I'll get a block. 25 BTC in my pocket, BOOM! If that happens, I'm done.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
Granted, I"m a newbie, but my understanding is that with the current difficulty, a single miner couldn't complete the calculation in the time it would take for the block being calculated to become stale. I'm sure that someone with more math skills than me could explain it in terms of the hashing power breakpoint, but I have the impression that it wouldn't even be possible anymore because of the calculation time.
Anyone?
Even with little hashrate, it is "possible" to find a block, but that possibility is extremely small that you are expected to get nothing in many many years.
I just figured out how to solo mine today. Well, I never really tried before today. I have ~105Gh of BFL's. I figure between now and May, I'll pool mine ~1.5 btc with them. That's ~$1200, or ~$12 a day. I'm selling them on ebay in April/May to the next sucker. I'm going to buy 0.25 btc/week between now and then hedging a rise in btc price. But if I'm really really really really lucky, I'll get a block. 25 BTC in my pocket, BOOM! If that happens, I'm done.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
Granted, I"m a newbie, but my understanding is that with the current difficulty, a single miner couldn't complete the calculation in the time it would take for the block being calculated to become stale. I'm sure that someone with more math skills than me could explain it in terms of the hashing power breakpoint, but I have the impression that it wouldn't even be possible anymore because of the calculation time.
Anyone?
I just figured out how to solo mine today. Well, I never really tried before today. I have ~105Gh of BFL's. I figure between now and May, I'll pool mine ~1.5 btc with them. That's ~$1200, or ~$12 a day. I'm selling them on ebay in April/May to the next sucker. I'm going to buy 0.25 btc/week between now and then hedging a rise in btc price. But if I'm really really really really lucky, I'll get a block. 25 BTC in my pocket, BOOM! If that happens, I'm done.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
I have a couple KNC's hashing away on a pool anyway.
Question: Has anyone ever got lucky and found a block solo mining with minimal hashing power? I've been mining with these KNC's since Oct and I've found 4 on BTCguild. I found one mining on a PPC pool. Was only on there for a couple days too.
You add the same value to the network in either case because your chances of finding a block are the same in solo mining and pool mining.
The big advantage of pool mining is that even though you might never find a block you will earn some bitcoins.
With 20Gh/s the everage time to find a Block is 9 years and 273 days.
You can calculate it here: http://www.bitcoinx.com/profit/
You could join a small pool in order to still get some bitcoins but not help the biggest players to centralize the hashing power even more.
The big advantage of pool mining is that even though you might never find a block you will earn some bitcoins.
With 20Gh/s the everage time to find a Block is 9 years and 273 days.
You can calculate it here: http://www.bitcoinx.com/profit/
You could join a small pool in order to still get some bitcoins but not help the biggest players to centralize the hashing power even more.
So, I'm mining in three different pools. And I've been scurrying around the net reading about the death of solo mining, and reading about people bemoaning the loss of decentralization because the pools are essentially centralizing the currency because of the difficulty level, etc.
So my question is this: If I want to run a solo mining box to simply add a decentralized node out there, how much hash power would I need to even provide value to the network? Should I devote a single chili (25-38 Gh/s) to this, or would that even make a difference?
I realize that I may >never< actually hit a block with it, but that isn't the point behind what I'm asking. I realize that solo hashing will probably never pay for the equipment unless I was EXTREMELY lucky. What I want to do is just contribute to the network.
So my question is this: If I want to run a solo mining box to simply add a decentralized node out there, how much hash power would I need to even provide value to the network? Should I devote a single chili (25-38 Gh/s) to this, or would that even make a difference?
I realize that I may >never< actually hit a block with it, but that isn't the point behind what I'm asking. I realize that solo hashing will probably never pay for the equipment unless I was EXTREMELY lucky. What I want to do is just contribute to the network.
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