Solo mining to wallet or exchange | Bitcointalksearch.org

akali

newbie

Activity: 55

Merit: 0

Quote from: Testing123 on July 24, 2014, 10:08:57 AM

Quote from: ahri on July 24, 2014, 10:04:13 AM

I dont think you`ll make anything from solo mining hence pools are there for a reason.

Not necessarily. It depends on the hashrate you have.
Also, some people consider solo-mining like buying a ticket in a lottery. The win chance is very low, but if you win, the reward is huge.

Yeah, but what are the odds of that ever happening... Roll Eyes

Dare

hero member

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Techwolf on #bitcoin and Reddit

Quote from: bmoscato on July 24, 2014, 08:55:39 AM

Quote from: minerpumpkin on July 24, 2014, 07:19:44 AM

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

Thanks for everyone's replies.

No, I just wanted to solo mine to one of the wallets that I downloaded. All of them do not have a config file. I'm going to try what Dare posted:

Code:

rpcuser=Techwolf
rpcpassword=
rpcallowip=127.0.0.1
server=1

Is this all that is needed in a config file?

Yes, that's all you need, though you should change the username and password to something you create. The rpcport parameter is only necessary if you're running multiple instances of the daemon or multiple altcoins with the same default port, which is unlikely.

Keep in mind though that solo mining Bitcoin or Litecoin is mostly pointless without a large initial investment in hardware, as you're very unlikely to ever find a block at the current rate of difficulty increase, though it may still be possible on newer altcoins.

Testing123

hero member

Activity: 561

Merit: 500

Quote from: flyingcatt on July 24, 2014, 10:19:12 AM

What kind of hashrate would you need to get a coin at a decent expected time?

The equation is quite simple indeed.

Quote from: Transisto on March 09, 2011, 02:34:53 PM

Average Time (in hours) = difficulty * 2^32 / (3600 * hash per second)

But don't forget the difficulty changes (most likely going up) every 2016 blocks. Cheesy

FeelTheBeat

hero member

Activity: 700

Merit: 500

Quote from: flyingcatt on July 24, 2014, 10:19:12 AM

What kind of hashrate would you need to get a coin at a decent expected time?

For bitcoin if you have 1TH/s you will still need about 2.5 years Cheesy

flyingcatt

member

Activity: 70

Merit: 10

What kind of hashrate would you need to get a coin at a decent expected time?

Testing123

hero member

Activity: 561

Merit: 500

Quote from: ahri on July 24, 2014, 10:04:13 AM

I dont think you`ll make anything from solo mining hence pools are there for a reason.

Not necessarily. It depends on the hashrate you have.
Also, some people consider solo-mining like buying a ticket in a lottery. The win chance is very low, but if you win, the reward is huge.

flyingcatt

member

Activity: 70

Merit: 10

It's a bad idea.

ahri

newbie

Activity: 54

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I dont think you`ll make anything from solo mining hence pools are there for a reason.

FeelTheBeat

hero member

Activity: 700

Merit: 500

Don't know if this is needed but you should add rpc port too.

Code:

rpcport=8332 (depends on coin)

bmoscato

sr. member

Activity: 361

Merit: 267

Quote from: minerpumpkin on July 24, 2014, 07:19:44 AM

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

Thanks for everyone's replies.

No, I just wanted to solo mine to one of the wallets that I downloaded. All of them do not have a config file. I'm going to try what Dare posted:

Code:

rpcuser=Techwolf
rpcpassword=
rpcallowip=127.0.0.1
server=1

Is this all that is needed in a config file?

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

Dare

hero member

Activity: 508

Merit: 500

Techwolf on #bitcoin and Reddit

Quote from: bmoscato on July 23, 2014, 11:01:54 AM

I have a dumb question. I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin... I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software? When I pool mine, the pool allows you to create a miner (user) and password. This portion of solo mining has me confused.

When you solo mine, you create a username and password and put them in a *coin.conf file in the coin's data directory, then point your miners at the client on your computer. Solo mining on most existing coins is pretty much useless, as you won't get anything until you find a block yourself.

For reference, one of my config files looks like this:

Code:

rpcuser=Techwolf
rpcpassword=
rpcallowip=127.0.0.1
server=1

FeelTheBeat

hero member

Activity: 700

Merit: 500

If you don't have ***.conf then just make it yourself and you can start mining. Anyway don't believe that it is smart so solo mine bitcoin or litecoin.

bmoscato

sr. member

Activity: 361

Merit: 267

Quote from: ajareselde on July 23, 2014, 12:06:15 PM

Quote from: bmoscato on July 23, 2014, 11:01:54 AM

I have a dumb question. I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin... I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software? When I pool mine, the pool allows you to create a miner (user) and password. This portion of solo mining has me confused.

Any coin you solo mine, procedure is the same.
For example if ure mining litecoin, go to your /appdata/roaming/litecoin folder, there you will have litecoin.conf file.

Open litecoin.conf in notepad , and there you can see the password,username for workers etc.
Note that you can also edit those things, but after editing, shut down main wallet , and reopen.

You can search this forum for related stuff, there are plenty of threads about solo mining.

Cheers

I guess I'm doing something wrong. I have multiple directories for for different wallets, but I do not have *.conf files:

Bitcoin:

Code:

C:\Users\bmoscato\AppData\Roaming\Bitcoin>dir
Volume in drive C is OS
Volume Serial Number is 9E83-34F9

Directory of C:\Users\bmoscato\AppData\Roaming\Bitcoin

07/22/2014 10:43 AM .
07/22/2014 10:43 AM ..
07/16/2014 08:49 AM 0 .lock
07/22/2014 10:32 AM blocks
07/22/2014 10:42 AM chainstate
07/16/2014 08:49 AM 0 db.log
07/22/2014 10:43 AM 364,665 debug.log
07/22/2014 10:43 AM 949,876 peers.dat
07/22/2014 10:43 AM 98,304 wallet.dat
5 File(s) 1,412,845 bytes
4 Dir(s) 295,898,595,328 bytes free

C:\Users\bmoscato\AppData\Roaming\Bitcoin>

Litecoin:

Code:

C:\Users\bmoscato\AppData\Roaming\Litecoin>dir
Volume in drive C is OS
Volume Serial Number is 9E83-34F9

Directory of C:\Users\bmoscato\AppData\Roaming\Litecoin

07/18/2014 11:49 AM .
07/18/2014 11:49 AM ..
07/18/2014 11:48 AM 0 .lock
07/18/2014 11:48 AM blocks
07/18/2014 11:48 AM chainstate
07/18/2014 11:48 AM 0 db.log
07/18/2014 11:49 AM 2,479,593 debug.log
07/18/2014 11:49 AM 525,762 peers.dat
07/18/2014 11:49 AM 90,112 wallet.dat
5 File(s) 3,095,467 bytes
4 Dir(s) 295,898,529,792 bytes free

C:\Users\bmoscato\AppData\Roaming\Litecoin>

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: bmoscato on July 23, 2014, 11:01:54 AM

I have a dumb question. I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin... I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software? When I pool mine, the pool allows you to create a miner (user) and password. This portion of solo mining has me confused.

Any coin you solo mine, procedure is the same.
For example if ure mining litecoin, go to your /appdata/roaming/litecoin folder, there you will have litecoin.conf file.

Open litecoin.conf in notepad , and there you can see the password,username for workers etc.
Note that you can also edit those things, but after editing, shut down main wallet , and reopen.

You can search this forum for related stuff, there are plenty of threads about solo mining.

Cheers

bmoscato

sr. member

Activity: 361

Merit: 267

I have a dumb question. I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin... I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software? When I pool mine, the pool allows you to create a miner (user) and password. This portion of solo mining has me confused.

Topic: Solo mining to wallet or exchange (Read 1285 times)