Solo mining in bear market | Bitcointalksearch.org

StormHawk

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Quote from: kaya11 on April 27, 2022, 11:11:28 PM

Quote from: adaseb on April 27, 2022, 09:55:57 PM

The difficulty will never drop to the point where it’s very profitable to mine despite the lower price. It never happened in any of the bear markets for Bitcoin, Litecoin or Ethereum. It will be lower than today but not that low.

The only good thing about solo mining is that you save on 1% fees and for privacy reasons. However you need enough hashrate to do so, a few GPUs is crazy to Solo mine. The variance will get you.

This is true, I have tried it once on aeternity lately because I can get a block in 3 days, but bruh, I better go to a pool which I would be getting rewards daily. I don't feel like solo mining unless I have some giga hashrates on the run. I just tried it because of some news about a solo miner bagging millions of dollars, and it took my attention so tried and it I got out quickly.

What number of Gigahash power we talking about here? 1GH or 10GH? Solving a ETH block is a game changer for the miner but ETH network is very big I doubt that 1-10GH will have any good effect.

Outhue

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Miners won't stop mining until there is nothing left to earn any more, a 30MH is still making over 1$ per day and some are using solar energy for mining, 30MH needs to be earning miners 30cents for them to start quitting and that's going to take a long time to happen.

swogerino

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Solo mining in a bear market is only profitable when you have a huge processing power and the difficulty to mine a certain coin has dropped significantly.Let's take the example of Ethereum Classic which is being mentioned here,even when the price got down to like 20-23 dollars from 37-39 the network difficulty stayed almost the same with little variation from 335-373 TH which shows that miners do not quit easily and this does not give us a low difficulty.The same will happen in every upcoming bear market events,people will not surrender this time after seeing the price of the best coin at near 70.000 dollars.

YellowSwap

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Quote from: kaya11 on April 27, 2022, 11:11:28 PM

Quote from: adaseb on April 27, 2022, 09:55:57 PM

The difficulty will never drop to the point where it’s very profitable to mine despite the lower price. It never happened in any of the bear markets for Bitcoin, Litecoin or Ethereum. It will be lower than today but not that low.

The only good thing about solo mining is that you save on 1% fees and for privacy reasons. However you need enough hashrate to do so, a few GPUs is crazy to Solo mine. The variance will get you.

This is true, I have tried it once on aeternity lately because I can get a block in 3 days, but bruh, I better go to a pool which I would be getting rewards daily. I don't feel like solo mining unless I have some giga hashrates on the run. I just tried it because of some news about a solo miner bagging millions of dollars, and it took my attention so tried and it I got out quickly.

If that dude try solo mining again with the hope of bagging another million of dollars he is in for the longest ride of his life, he is not going to earn anything, just because you manage to solve a block doesn't mean you will be that lucky another day unless you have a might Gigahash farm.

FP91G

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Quote from: Daodex on April 27, 2022, 10:08:56 AM

It doesn't matter, you said it yourself that difficulty will have dropped by the time so tell me how mining on the pool isn't even better? You will get better quantities of coins you mine and that's all what this is about isn't it.

I don't think mining difficulty will drop. After the end of Ethereum mining, the hashrate will be distributed according to other algorithms and it will be more difficult to mine and the profit will decrease. We need to wait for a situation where solo mining will be interesting for testing.

kaya11

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Quote from: adaseb on April 27, 2022, 09:55:57 PM

The difficulty will never drop to the point where it’s very profitable to mine despite the lower price. It never happened in any of the bear markets for Bitcoin, Litecoin or Ethereum. It will be lower than today but not that low.

The only good thing about solo mining is that you save on 1% fees and for privacy reasons. However you need enough hashrate to do so, a few GPUs is crazy to Solo mine. The variance will get you.

This is true, I have tried it once on aeternity lately because I can get a block in 3 days, but bruh, I better go to a pool which I would be getting rewards daily. I don't feel like solo mining unless I have some giga hashrates on the run. I just tried it because of some news about a solo miner bagging millions of dollars, and it took my attention so tried and it I got out quickly.

adaseb

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The difficulty will never drop to the point where it’s very profitable to mine despite the lower price. It never happened in any of the bear markets for Bitcoin, Litecoin or Ethereum. It will be lower than today but not that low.

The only good thing about solo mining is that you save on 1% fees and for privacy reasons. However you need enough hashrate to do so, a few GPUs is crazy to Solo mine. The variance will get you.

Daodex

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It doesn't matter, you said it yourself that difficulty will have dropped by the time so tell me how mining on the pool isn't even better? You will get better quantities of coins you mine and that's all what this is about isn't it.

FP91G

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Quote from: StormHawk on April 27, 2022, 02:09:36 AM

This question is about Solo mining in bear market

When everything seems dead just like 2018 and 2019, mining is not profitable anymore, John bull dashing out free rx580s to his cousins, everyone singing it's over, mining difficulty becomes extremely low, isn't that the best time to Solo mine some coins?.

For example, I except Solo mining Ethereum Classic to me more easier if ETC goes down to 5-10$ or there is some part I am missing about Solo mining?

In solo mining, it is profitable to mine Ethereum, if you have a large hashrate, then you can catch a block with large commissions that exceed the block reward by several times.
In the ethereum classic, the commissions are minimal, it’s probably easier to mine on the pool.

StormHawk

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This question is about Solo mining in bear market

When everything seems dead just like 2018 and 2019, mining is not profitable anymore, John bull dashing out free rx580s to his cousins, everyone singing it's over, mining difficulty becomes extremely low, isn't that the best time to Solo mine some coins?.

For example, I except Solo mining Ethereum Classic to me more easier if ETC goes down to 5-10$ or there is some part I am missing about Solo mining?

Topic: Solo mining in bear market (Read 162 times)