Solo mining is like the worst kind of lottery. Let's say that you buy one ticket a day for $3.50 (cost of electricity) and the max payout is about $16,000. Would you play that lottery? Calculate the odds here: http://bitcoin.stackexchange.com/questions/16687/solo-mining-just-for-luck-realistic
I would recommend that you not put a lot of faith in anyone's anecdotes about their solo mining results. Feel free to solo mine, but you'd probably be better off spending that $3.50 on actual lottery tickets.
Topic: wich is better solo or pool mining? (Read 1149 times)
In theory pool mining should net you the same as solo mining, however the chance of you hitting a block with 1 S7 is minimal, you may want to consider to let the S7 mine solo for a couple of hours a day and let it mine in a pool for the rest so you can atleast recover some of the cost if you don't hit a block.
I have hit 2 solo blocks with big hash 1ph for 1 day netted 2 blocks
I hit a solo block with two partners and only an s-7
In all cases above difficulty was around 50-60 it is now 200-210.
To never solo mine is a sad choice to occasionally solo mine is a bit more optimistic.
To always solo mine with a 2200 to one chance is pretty damn super optimistic.
But after reading this I think I will solo mine for a bit today.
In theory pool mining should net you the same as solo mining, however the chance of you hitting a block with 1 S7 is minimal, you may want to consider to let the S7 mine solo for a couple of hours a day and let it mine in a pool for the rest so you can atleast recover some of the cost if you don't hit a block.
Pool mining is the only option you can go for, as solo mining will get you nowhere.
Instead, try and mine some other alts which may be profitable, you may still mine with your CPU or GPU, can go for cryptonote coins.
Instead, try and mine some other alts which may be profitable, you may still mine with your CPU or GPU, can go for cryptonote coins.
iam willing to buy antminer s7 batch 1
todays chance of grabbing a block with an s-7 is about 1 in 2200
my suggestion would be buy the s-7 mine solo until the ½ing that would be about 2 weeks so you chance of a 25 coin block would be about 14 of 2200.
once the ½ing come you can reassess .
Maybe you mine solo 1 day a week mine on kano.is 6 days a week. after the ½ing
this always would give you hope of a big hit and still earn some coins for you.
an s-7 burns power about 33 kwatts a day that is about 1000kwatts a month at 10 cent power it is close to 100 bucks worth of power.
It is better not to buy S7 if you want to solo. The difficulty is rising fast, it will take you many years to find a block.
Actually with current hashrate estimated on bitwisdom:
Bitcoin Difficulty: 209,453,158,595
Estimated Next Difficulty: 218,702,264,592 (+4.42%)
Adjust time: After 1462 Blocks, About 10.0 days
Hashrate(?): 1,410,294,600 GH/s
This may drop a little after having (we just don't know) but it will over time go up. So you have smaller and smaller chance. You would be better off pool mining with your S7 in my view, as it is guarenteed BTC. If you solo'ed a block yes HUGE reward but chances are very very small with 1 S7. So possible yes... but very unlikely.
It is better not to buy S7 if you want to solo. The difficulty is rising fast, it will take you many years to find a block.
You can't solo mine anymore with this little hashrate, unless you are ready to deal with extreme variance.
This would mean getting nothing out of your S7 at all, even if you're mining over a a few years.
This would mean getting nothing out of your S7 at all, even if you're mining over a a few years.
iam willing to buy antminer s7 batch 1
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