Topic: Solo Mining - Is there a chance (Read 681 times)
i was mining some extremely low tier (compared to bitcoins/litecoins) scrypt coins and i was doing 68 Kh/s and i only ever got 1 block ever.. i mined a TON when they were new enough that the difficulty was near absolute 0 but none ever made it back to me... wouldn't recommend solo mining if you can't actually keep your blocks like me
Your better off going to work and purchasing the coins
Pool or alt coin are the best options right now in this situation. (e.g. p2pool, mining.bitcoin.cz, deepbit, btcguild etc).
Hey guys, I'm new to bitcoin mining...I was wondering is there even a chance on a block for new miners who would want to solo? Approx 278Mh/s or is the only way to join a pool?
There is always a chance, a slim one though. Please do the math, and you will find out how slim. Good luck.
You need to get in quick with the launch of a new altcoin.. but don't worry, you won't have to wait long!
Hey guys, I'm new to bitcoin mining...I was wondering is there even a chance on a block for new miners who would want to solo? Approx 278Mh/s or is the only way to join a pool?
Expect about 0.012 BTC daily at pool with current difficulty. Simple math says 25 / 0.012 = 2083 days average to find a block. But difficulty will increase probably by about 10% every 2 weeks
Pool mining still works for GPU if your gear is paid for. You can still beat electricity costs by a wide margin. How much longer this will be true is speculation.
IMHO Solo Mining chances are infinitesimal but its a beautiful dream.
try solo mining with alt coins
Yes, and this is exactly what I'm going to do.
Building farm, well, superfarm for solo-mining litecoin
Building farm, well, superfarm for solo-mining litecoin
Yes, there is a chance.
Oh, you want to know what that chance is? Assuming you mine 24/7, and that the difficulty doesn't increase (which is a completely bogus assumption), you'd need to mine constantly for nearly 4 years to have a 50% chance of finding a block. But don't worry, you might get lucky: you have about a 1.5% chance of finding a block within a month. If you don't like those chances, you'd better join a pool.
EDIT: Typo.
Oh, you want to know what that chance is? Assuming you mine 24/7, and that the difficulty doesn't increase (which is a completely bogus assumption), you'd need to mine constantly for nearly 4 years to have a 50% chance of finding a block. But don't worry, you might get lucky: you have about a 1.5% chance of finding a block within a month. If you don't like those chances, you'd better join a pool.
EDIT: Typo.
what do you mean orphaned?
it isn't worth it, go with a pool
even if you luck out the block will likely be orphanned
even if you luck out the block will likely be orphanned
Prob should focus on alt coins (Litecoin) if you're GPU mining.
Hey guys, I'm new to bitcoin mining...I was wondering is there even a chance on a block for new miners who would want to solo? Approx 278Mh/s or is the only way to join a pool?
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