Topic: What should I expect if I'm solo mining? (Read 5004 times)
Depends on your mining speed and how long you can mine each day!
how do i calculate based on GH what are the probabilities of finding a block? i realised i found one on eligius actually, but ofcourse only got my share of the block.
i wouldn't mind solo mining for 3-4 months if i at least find one block worth 25btc. or even try a week or two.
As written before here, any info on avalon solo mining setups?
i wouldn't mind solo mining for 3-4 months if i at least find one block worth 25btc. or even try a week or two.
As written before here, any info on avalon solo mining setups?
Enter the GH in http://mining.thegenesisblock.com/a/965a7370fc and look at 'Time per Block (days)'.
You will be better off in a pool unless your 'Time per Block (days)' is smaller than the period between difficulty adjustments (about 10 days).
If you're going for a 25 BTC "lottery", mine in a pool, then use the BTC you get to play Satoshi's dice or equivalent with a BTC 25 payout - your overall odds are better that way.
how do i calculate based on GH what are the probabilities of finding a block? i realised i found one on eligius actually, but ofcourse only got my share of the block.
i wouldn't mind solo mining for 3-4 months if i at least find one block worth 25btc. or even try a week or two.
As written before here, any info on avalon solo mining setups?
i wouldn't mind solo mining for 3-4 months if i at least find one block worth 25btc. or even try a week or two.
As written before here, any info on avalon solo mining setups?
is there any uptodate thread regarding solo mining?
particularly on the avalon asics.
particularly on the avalon asics.
Holy thread necro !
It's not worth it to solo mine unless you have several TH at your disposal.
Stick with a pool.
I like my threads like my women, cold and rigamortised....
several TH you say???
i was hoping 140GH would be sufficient!!
There are 144 blocks generated per day (at target speeds). You currently have 0.08% of the network hashrate approximately, that means you can expect 0.1152 blocks per day or 1 block roughly every 9 days. The process is subject to extreme variability though, you may have a month-long dry spell or find 2 blocks the same day.
In any case, for consistent payoffs, a pool is much better. And pool fees are rarely significant.
is there any uptodate thread regarding solo mining?
particularly on the avalon asics.
particularly on the avalon asics.
Holy thread necro !
It's not worth it to solo mine unless you have several TH at your disposal.
Stick with a pool.
I like my threads like my women, cold and rigamortised....
several TH you say???
i was hoping 140GH would be sufficient!!
Definitely want to at least get into the TH range
use this http://www.bitcoinx.com/profit/ . according to it if you had like 2 milion mh/s you get a block in 12 hours approx. but bitcoin at this stage it`s a big NO! for solo mining. if you had that kind of hash speed it`s still beter to stick to a pool.
is there any uptodate thread regarding solo mining?
particularly on the avalon asics.
particularly on the avalon asics.
Holy thread necro !
It's not worth it to solo mine unless you have several TH at your disposal.
Stick with a pool.
Quote
What should I expect if I'm solo mining?
I think that pool mining is more psychologically gratifying, especially if you can't mine 24/7/365. It really sucks to mine for a few days straight, get nothing, and then have to stop for whatever reason, to play a game, etc.
Are you saying that if you stop, your progress gets lost or something? I've been stopping a lot because I can't mine 24/7...
WHATTT?
Your progress doesn't get lost. I was just referring to the psychological aspects. If you mine with a pool, you get something sooner rather than later. I think most people prefer instant gratification.
probablity of you finding a block:
I think that pool mining is more psychologically gratifying, especially if you can't mine 24/7/365. It really sucks to mine for a few days straight, get nothing, and then have to stop for whatever reason, to play a game, etc.
on the other hand, you could get 2 blocks on the same day 
. Since the money i make via mining is minimal, i go solo mining. nothing to lose...
Code:
Probability Time
Average 33 days, 15 hours, 40 minutes
50% 23 days, 7 hours, 50 minutes
95% 100 days, 19 hours, 34 minutes
Average 33 days, 15 hours, 40 minutes
50% 23 days, 7 hours, 50 minutes
95% 100 days, 19 hours, 34 minutes
Quote
What should I expect if I'm solo mining?
I think that pool mining is more psychologically gratifying, especially if you can't mine 24/7/365. It really sucks to mine for a few days straight, get nothing, and then have to stop for whatever reason, to play a game, etc.
. Since the money i make via mining is minimal, i go solo mining. nothing to lose...
there is no progress to get lost.
you can only try one hash at a time and it's either a winner or not, makes no sense to save it.
you can only try one hash at a time and it's either a winner or not, makes no sense to save it.
Quote
What should I expect if I'm solo mining?
I think that pool mining is more psychologically gratifying, especially if you can't mine 24/7/365. It really sucks to mine for a few days straight, get nothing, and then have to stop for whatever reason, to play a game, etc.
Are you saying that if you stop, your progress gets lost or something? I've been stopping a lot because I can't mine 24/7...
WHATTT?
I'm using the Phoenix miner @ ~ 162Mhash/sec
With current difficulty it may take about 4 weeks, 5 days, 15 hours, 39 minutes, and 50 seconds to find a block if mining solo. It's not guaranted, may be less and may be much longer. (Difficulty will jump ~40% up in less than a week).1) I realize my chances of finding a block are pretty small, but lets just assume I do. What happens? Does my wallet just go up by 50 btc one day and I'm like WTF I R rich!?
Yes, you will see a generation transaction in your wallet. Then you'll have to wait ~20 hours for 120 confirmations and if it's not failed then your balance will go 50 (+fees) BTC up.2) I saw a btc video shortly after the /. story about some guy running a mining rig and he said something like "transaction fees are almost more profitable these days." How do I get paid these transaction fees? Again, do they just randomly show up in my balance? What's up with that?
He is wrong, transaction fees are about 0-0.05 BTC per block, rarely up to 0.1.They will be added to your +50 at the time when block is found.
3) Phoenix miner shows my Mhash/sec, but shows 0 accepted/rejected. I assume that's there cause I'm not mining with a pool and there's no one to accept or reject my stuff. I just crunch numbers and hope I hit the jackpot. Do I have this configured correctly?
You will see "1 accepted" if you hit the block.PPS- Thanks for your helpful responses in advance :)
Welcome to my pool :)
I mine for about 22 hours a day sans for the 2hrs I'm playing WoW.
Quote
What should I expect if I'm solo mining?
I think that pool mining is more psychologically gratifying, especially if you can't mine 24/7/365. It really sucks to mine for a few days straight, get nothing, and then have to stop for whatever reason, to play a game, etc.
I'm using the Phoenix miner @ ~ 162Mhash/sec
Up until now I've been mining with bitcoinpool.com. But after some hack attempts and some connectivity issues with the pool, I've decided to give solo mining a whirl. I'll probably do something like mine for a month and then rejoin the pool regardless of if I find a block(s) or not.
I've set up my bitcoin.exe -server with a fancy dancy username and password and I have phoenix crunching away with my personal wallet as the (hopefully) lucky recipient.
1) I realize my chances of finding a block are pretty small, but lets just assume I do. What happens? Does my wallet just go up by 50 btc one day and I'm like WTF I R rich!?
2) I saw a btc video shortly after the /. story about some guy running a mining rig and he said something like "transaction fees are almost more profitable these days." How do I get paid these transaction fees? Again, do they just randomly show up in my balance? What's up with that?
3) Phoenix miner shows my Mhash/sec, but shows 0 accepted/rejected. I assume that's there cause I'm not mining with a pool and there's no one to accept or reject my stuff. I just crunch numbers and hope I hit the jackpot. Do I have this configured correctly?
PS- The bitcoinpool.com folks are REALLY cool. They've even taken care of the "Issues" I mentioned earlier... I don't want this post to somehow construe them in a negative light.
PPS- Thanks for your helpful responses in advance
Up until now I've been mining with bitcoinpool.com. But after some hack attempts and some connectivity issues with the pool, I've decided to give solo mining a whirl. I'll probably do something like mine for a month and then rejoin the pool regardless of if I find a block(s) or not.
I've set up my bitcoin.exe -server with a fancy dancy username and password and I have phoenix crunching away with my personal wallet as the (hopefully) lucky recipient.
1) I realize my chances of finding a block are pretty small, but lets just assume I do. What happens? Does my wallet just go up by 50 btc one day and I'm like WTF I R rich!?
2) I saw a btc video shortly after the /. story about some guy running a mining rig and he said something like "transaction fees are almost more profitable these days." How do I get paid these transaction fees? Again, do they just randomly show up in my balance? What's up with that?
3) Phoenix miner shows my Mhash/sec, but shows 0 accepted/rejected. I assume that's there cause I'm not mining with a pool and there's no one to accept or reject my stuff. I just crunch numbers and hope I hit the jackpot. Do I have this configured correctly?
PS- The bitcoinpool.com folks are REALLY cool. They've even taken care of the "Issues" I mentioned earlier... I don't want this post to somehow construe them in a negative light.
PPS- Thanks for your helpful responses in advance
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