solo mining those who found block.. | Bitcointalksearch.org

malev

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Quote from: cryptosifu on May 29, 2017, 05:05:38 PM

Quote from: malev on May 29, 2017, 04:00:28 PM

i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.

I agree. Best to mine a new low difficulty coin and sell it for bitcoins later when/if it's listed on an exchange. It's a gamble because some coins won't get on an exchange but it's better than waiting for a solo block of bitcoins that might not happen before you die.

for sure. and if you choose established alt coins, its not even that big of a gamble. coins like ethereum, monero, litecoin all hold their values pretty well. and their miing returns are much better than bitcoin.

cryptosifu

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Quote from: malev on May 29, 2017, 04:00:28 PM

i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.

I agree. Best to mine a new low difficulty coin and sell it for bitcoins later when/if it's listed on an exchange. It's a gamble because some coins won't get on an exchange but it's better than waiting for a solo block of bitcoins that might not happen before you die.

malev

newbie

Activity: 47

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i wouldn't even consider mining bitcoins anymore. And as an everyday Joe you will NEVER get a block. Try crypto coin mining and exchange the coins to bitcoin. I really like Monero, cause you can still CPU mine it.

Victoo

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Activity: 393

Merit: 250

Quote from: Argon2 on May 25, 2017, 11:18:58 PM

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

The variance is so huge, for this to be practical it would take lifetimes of mining. If you have a miner and you're wanting to make money solo mining just forget it. You'll make more money selling it to someone clueless in a yard sell.

-ck

legendary

Activity: 4088

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Ruu \o/

Quote from: worldmobilecoin on May 28, 2017, 11:37:44 AM

Quote from: Argon2 on May 25, 2017, 11:18:58 PM

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

Yes, but you still need to find a block first. So you need to fight with pool hash power. For time maybe it's 'on average' but hash power seems to be impossible for solo mining.

Strictly speaking Argon2 is right that on average you can earn the same but that's assuming infinite time when realistically the variance makes it not feasible.

What do you mean by "need to fight with pool hash power"? There is no such thing. All miners are unique and not fighting anyone except overall network diff.

worldmobilecoin

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World Mobile Coin

Quote from: Argon2 on May 25, 2017, 11:18:58 PM

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

Yes, but you still need to find a block first. So you need to fight with pool hash power. For time maybe it's 'on average' but hash power seems to be impossible for solo mining.

cryptosifu

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Activity: 378

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Quote from: Argon2 on May 25, 2017, 11:18:58 PM

It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

This is not a true statement. You may never hit a block solo mining but will earn some bitcoins while mining in a pool.

Argon2

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It would take the same amount of time to solo a block of 12.5 as it would to mine 12.5 using a pool. But this is "on average".

Victoo

sr. member

Activity: 393

Merit: 250

I've mined a few back before ASICS took over. Those coins are long gone and were only worth a few bucks back then Undecided

spike420211

sr. member

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Quote from: fanatic26 on May 05, 2017, 02:08:25 PM

The chances of finding a block

I personally haven't kept up...

Stupid ass question:
WTF is the current block size, right now May 2017] if I DO find a block? 256BTC's??? 128??? 64???

@ $~2500/BTC [current],
well, I live in PA, I could buy out fucking PPL, or just use electricity generated from the heat on their transformers,
and trout fish the internetz for 100-300k$/ year meebe the next 3 years???

shield132

hero member

Activity: 2268

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One years ago I was trying to solo mine but understand that I was wasting time, really, you need luck when you solomine. So once me and my friend with help of others joined ck pool with many antminer s7 and we were awarded with block.
Btw I suggest you to don't waste time on solo mining because it's simply waste of money and it's better to pay pool fees and earn your bitcoins without problems.

Panda Trump

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Quote from: PhantomLord on May 24, 2017, 02:26:16 AM

Is it really impossible or the ROI is in the unforeseeable future?

Not impossible, but by the time your miners have made the worth of 1 block to you in a pool, you would've found your first block. And that's on average... Ofcourse you could find it even on your first day, but it could also take 20 years to find your first block... For many people it's just too unreliable and esspecially for small miners it's undoable, as it would take multiple months to find just 1 block, even if you have multiple miners.

PhantomLord

newbie

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Is it really impossible or the ROI is in the unforeseeable future?

Arcteryx

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EtherSphere - Social Games

Never really understood how this worked.
And with the difficulty level getting harder and harder to do it.
i would say it is nearly impossible for a solo miner to do this when there are literally 100,000's of people mining with atleast 10+ miners going at the same time. And that is not including those mining farms which have 100's going at the same time.
Solo mining is dead in a sense for bitcoin blocks still left to mine by yourself.

worldmobilecoin

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World Mobile Coin

You must be really really lucky if you get a block with solo mining. Shocked

frowsiter

sr. member

Activity: 714

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Is it really possible to solo mine a complete block? I mean that's hog in cog. And also know this solo mining costs you more than anything including your heavy electricity charges so why do even try it. I have recently started solo mine but I'm really upset with my set up so I'm gonna make up the team in nearing future. Also if you mine by any chance a block would contain 8-12 bitcoins. That's huge and that is why it's less chances you may find it.

jpass022

member

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I think you have better odds playing the lottery. Grin

coinminer33085

newbie

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I've solo mined for a few years now with crap hardware. I've not found anything but it hasn't really cost me anything either.

Amph

legendary

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Quote from: Morguk on May 09, 2017, 06:29:26 PM

I solo mine as it's cheaper than the lottery and better odds, plus it's fun!

yeah but it pay way less than the lottery and you need to invest in your asic you know, therefore i can't see how it is heaper than the lottery, when i can just go outside and buy one for 5 euro with a potential winning of 500k euro or more

but i agree that mining is more fun, i do it for this reason, it's remind me of gaming sone times

minion1000

newbie

Activity: 47

Merit: 0

I'm going to begin solo mining for Bitconnect coin in a few days , if I don't hit anything in a week I will go with the pool, it seems the lookers hit for at least 10 coins a day.

Topic: solo mining those who found block.. (Read 11853 times)