Solo mining question - page 2. | Bitcointalksearch.org

fr4nkthetank

legendary

Activity: 2294

Merit: 1182

Now the money is free, and so the people will be

Quote from: facade55 on November 17, 2015, 06:10:01 PM

Quote from: PassThePopcorn on November 17, 2015, 02:48:04 PM

Quote from: facade55 on November 17, 2015, 02:29:15 PM

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

Solo mining is like playing a lottery. You either get the entire reward or nothing at all. When you have free power this can be good because you're not paying for any power if you don't find a block, if you do find a block you get a little over 25 BTC. Or you can mine to a pool with PPS or some similar system and get smaller amounts of BTC, depending on the equipment a few dollars a day, with 1TH would be about 0.007637 BTC.

Do you want to test your luck and make thousands at once or go the safe route and make a small amount per day?

I was looking at buying two antminer S7's and starting from there. Would just using them in a pool be a better option?

It depends I guess. In a pool maybe you will ROI, solo maybe in 1 year you will find 1 block. so lets say you get 10 to 15 btc in a pool, or a chance to get 25btc or nothing. dont forget the halving. maybe someone has real numbers.

facade55

newbie

Activity: 2

Merit: 0

Quote from: PassThePopcorn on November 17, 2015, 02:48:04 PM

Quote from: facade55 on November 17, 2015, 02:29:15 PM

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

Solo mining is like playing a lottery. You either get the entire reward or nothing at all. When you have free power this can be good because you're not paying for any power if you don't find a block, if you do find a block you get a little over 25 BTC. Or you can mine to a pool with PPS or some similar system and get smaller amounts of BTC, depending on the equipment a few dollars a day, with 1TH would be about 0.007637 BTC.

Do you want to test your luck and make thousands at once or go the safe route and make a small amount per day?

I was looking at buying two antminer S7's and starting from there. Would just using them in a pool be a better option?

coinhelper

member

Activity: 63

Merit: 10

Quote from: facade55 on November 17, 2015, 02:29:15 PM

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

It would be greatly profitable to do this, this way for a hobby, but, you are not guarenteed to get anything.

I would recommend that you create a private pool for yourself of something like a Raspberry Pi or an old Computer that can connect to the internet but probably doesn't need a high CPU avaliability. Then connect a few ASIC miners such as 4 x antminer s5's and connect them to your new pool, leave this running and see what rewards you get for it!

(note: you may get nothing, but, it is likely you will get a few blocks in a few weeks and may earn more than being on a pool and don't have to pay reward fees of 1%!)

NOTE: If you are in an apartment or similar, you may be able to get some of your neighbours to get cheap mining equipment and join your private pool but then you will have to split the profits evenly.

PassThePopcorn

sr. member

Activity: 463

Merit: 309

Quote from: facade55 on November 17, 2015, 02:29:15 PM

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

Solo mining is like playing a lottery. You either get the entire reward or nothing at all. When you have free power this can be good because you're not paying for any power if you don't find a block, if you do find a block you get a little over 25 BTC. Or you can mine to a pool with PPS or some similar system and get smaller amounts of BTC, depending on the equipment a few dollars a day, with 1TH would be about 0.007637 BTC.

Do you want to test your luck and make thousands at once or go the safe route and make a small amount per day?

fr4nkthetank

legendary

Activity: 2294

Merit: 1182

Now the money is free, and so the people will be

Quote from: facade55 on November 17, 2015, 02:29:15 PM

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

what will happen is you will mine, and get nothing. Maybe you are really lucky, and get a block. But just roughly calculate what your power is vs power of everyone to get an idea of your odds. Tongue

good luck. if you do solo mine for fun point your rig at solo.ckpool

facade55

newbie

Activity: 2

Merit: 0

Everything that I have read recently has pointed me to the fact that solo mining is not profitable. I have a unique situation where my electricity is included and I pay nothing for it. It does not matter how much I do or do not use. Would it still be profitable or would I still be unable to reach ROI on one or two ASIC miners?

Topic: Solo mining question - page 2. (Read 2600 times)