Convenience of pool-mining



  • I'm looking at the stats of some miners at my pool (with around 20 TB same size as I'm building up) and I notice this:

    Mined Blocks 84 (241,919 Burst)
    Pool Mined Balance 226,615 Burst
    Solo Mined Balance 0 Burst

    So this means that this one mined 84 blocks for a value of 241,919 but because he mined in a pool and not alone, he received 226,615. So if this is right, what is the advantage to mine in a pool? You get more chance to find a block?



  • @Tradersblog Main advantage is that you get a more regular income. With 20TB it's quite possible to go 5 Days without hitting a Block.

    Rich



  • @Tradersblog @Tradersblog Statistically, in the long run it will be:

    [solo mining earnings]=[pool mining earnings]+[pool fees(typically 0.5% to 2%)]+[transactions fees]

    One of the advantages of a consolidated pool is that it brings you out of the statistical distribution about winning blocks, giving you daily earnings.
    At this difficulty, with 850.3GB plots you can aspire to fund 1 block per month: statistically, with this plot size, it's not impossible to win 4 blocks in one month, but it's not impossible to not win blocks for 6 months. The second scenario could be a problem for solo mining and can justify pool mining costs...
    You have to do your own math about this, taking into account of your plots size.
    Also with solo mining you have to deal with running a local wallet always unforked, availability of stats,...



  • Ok I understand that the payments are more regular with a pool. But if one is looking for a long term investment (mining expecting a future price rise or pump) it seems most convenient to mine alone.


  • admin

    @Tradersblog Some are looking to miine and hold, others to mine and trade. Depending on your intentions, pool or solo will work better for you.