Topic: Solo mining profitability theorizing (Read 197 times)
Over the long term, it all evens out though. Sure you can hit the lottery and win a few blocks quickly, but then you could go weeks without hitting a block.
You're talking about a hefty L3+ investment and a large electricity bill. You will want that guaranteed pool income so you can sleep at night.
I've solo mined and found a block within 10 minutes and other times didn't find one for over a week.. Switched back to a pool in frustration and next day found 2 blocks. I think that's one reason I like pools that don't display how many blocks you've found.
I have bills to pay so I always choose the guaranteed income. But I still do solo mine low difficulty coins with my smaller rigs and Moonlanders.
If I was in that situation I'd do both. Pool mine with most of my rigs and solo on just a few.
I've solo mined and found a block within 10 minutes and other times didn't find one for over a week.. Switched back to a pool in frustration and next day found 2 blocks. I think that's one reason I like pools that don't display how many blocks you've found.
I have bills to pay so I always choose the guaranteed income. But I still do solo mine low difficulty coins with my smaller rigs and Moonlanders.
If I was in that situation I'd do both. Pool mine with most of my rigs and solo on just a few.
I know it probably just comes down to personal preference and your own personal tolerance level when it comes to how much you can gamble by solo mining, but I'm still curious to hear what you've all got to say!
Just as the title says, I'm curious about the point at which it's more profitable for a miner to solo mine rather than mine in a litecoin pool or on nicehash/prohash.
If you have say 20 L3+ miners you're making about $2,500 per week - and according to the litecoinpool calculator - the probability of generating a block of 25 coins equaling $7,100 in 7 days is almost exactly 50%.
So that leaves us with the question, does the 50% shot at $7,100 per week make it worth it to solo mine over a guaranteed $2,500 per week mining through a pool? And if not, what number of miners makes it worth it - if any number at all? Lets double that number to 40 L3+ miners, does that make it worth it? With 40 miners pool mining you're now looking at a guaranteed $5,000 per week, but solo mining you're looking at a near 75% chance of mining a block and making $7,100 per week. With 40 miners that's $20,000 guaranteed pool mining per month, or a 75% shot at $28,400 solo mining. Even if one week goes by and you don't mine a block solo mining, and you've mined one block every other week that month, you're looking at $21,300 which is still $1,300 more than if you were pool mining, and that's in the unlikely event that you don't mine a block one week (25% chance)! That doesn't even include the chance at finding extra blocks, with a near 50% chance of finding a block every 3 days!!!
What do we think? I'm interested to hear what you all have to say!
If you have say 20 L3+ miners you're making about $2,500 per week - and according to the litecoinpool calculator - the probability of generating a block of 25 coins equaling $7,100 in 7 days is almost exactly 50%.
So that leaves us with the question, does the 50% shot at $7,100 per week make it worth it to solo mine over a guaranteed $2,500 per week mining through a pool? And if not, what number of miners makes it worth it - if any number at all? Lets double that number to 40 L3+ miners, does that make it worth it? With 40 miners pool mining you're now looking at a guaranteed $5,000 per week, but solo mining you're looking at a near 75% chance of mining a block and making $7,100 per week. With 40 miners that's $20,000 guaranteed pool mining per month, or a 75% shot at $28,400 solo mining. Even if one week goes by and you don't mine a block solo mining, and you've mined one block every other week that month, you're looking at $21,300 which is still $1,300 more than if you were pool mining, and that's in the unlikely event that you don't mine a block one week (25% chance)! That doesn't even include the chance at finding extra blocks, with a near 50% chance of finding a block every 3 days!!!
What do we think? I'm interested to hear what you all have to say!
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