Solo mine or Pool mine on 70tb +



  • @nixxda I figured out that the computer I was mining on was not optimal for having a lot of hard drives attached and therefore was causing the scan times to be to slow. After putting together a new rig that scans the hard drives much faster, I've been able to get a decent amount of burst everyday.



  • I will have to disagree that solo mining is more profitable over the long run. Unless you have a PB farm your returns will get lower over time. In other words less blocks. In solo mining its you vs everything else! Every time the network grows you opponent gets larger. The right pool with the right miners is always better.

    I predict one day there wont be many solo miners (under 100TB) the competition will be too high. So if I was now solo mining I would start looking for a place good for me. Will it be a large pool with 600 miners or a smaller pool with 200 miners the choice is yours. People can say what they want but look where they are 6 months from now!



  • @tross If the network keeps growing, yes of course. Someday it will not be more profitable anymore! But we are not there yet! Also, there is probably a "line" somewhere, (below 30-40TB maybe) where it's better to go for pool mining and profit from the big guys.

    I've only made the calculation over weeks not months! And the result for solomining was always better. I did this a few times. And I still believe in it! Even coming out of a very very "dry" period which nearly made me turn!-)

    The one thing which gets completely lost however, is the social aspect! Because all those pools with some big guys winning bloks regularly are a good place for beginning miners with only a few TB's. And make it much more interesting to even start mining!



  • @nixxda Now my question is, is it worth the hassle to do solomining? If I mine in a pool which takes a 2% fee that means every 100000 burst I mine, they take 2000. So a 2% fee really is pretty low when I think about it. I've considered moving my rig over to solomining, now that I have 100TB, I just get worried about the potential problems.



  • @caligiuri I will you my pool as an example. I will have monthly burst bashes . That means 20k to 30k will be given out over a 24 hour period. 3k is thrown at the pool every 3 hours! now with you being such a large miner you will take a good share. Its no brainer it wipes away all fees and then some.



  • @tross said in Solo mine or Pool mine on 70tb +:

    I will have to disagree that solo mining is more profitable over the long run. Unless you have a PB farm your returns will get lower over time. In other words less blocks. In solo mining its you vs everything else! Every time the network grows you opponent gets larger. The right pool with the right miners is always better.

    I am going to have to disagree with this.... 🙂 You are making out here that a Pool Miner is in some way magically protected from Network growth? No-one be they Pool or Solo with a fixed number of TB is protected either from growth of the network or the Monthly block Reward reduction.

    In terms of, is Pool or Solo best? as others have said the prime difference is that a Solo Miner get's the full block reward with no Pool fee reduction. This, in the long run, is the obvious plus for solo..

    However I suspect that it is other factors which will determine which is the "best" for a Miner regardless of the number of TB he has. These include.

    The uptime of the Pool and how often it goes off on a Fork, relative to Solo they are an additional link in the chain to go wrong. For the solo Miner they also need to ensure that their wallet is up and running and not on a Fork. Any forking or downtime makes a big dent in the earnings.

    A more subtle difference is how fast is your scan time relative to the rest of the Network? As a Solo Miner if you are very fast this will mean that on a fast block you can sometimes "steal" it from someone who might of had a better deadline but had not found it in time.

    As a Pool miner with a fast scan time, you still get the Block Winner advantage plus a gain on every block regardless of whether the Block is won by the Pool or not. I "think" this translates to a small plus for Pool Mining if you have a fast scan time, however the converse is that if your scan time is slow then you will loose out more.

    Bottom line, as ever, is that how many TB you have is King and there is virtually nothing in it. Main benefit of a Pool is that you feel part of a Team and that particularly for smaller Miners it removes a lot of the reward Variance. 🙂

    Rich



  • Who the heck said you are magically protected in a pool lol. I say strength in numbers is the way to go otherwise you would be solo mining now.



  • @tross You said "Unless you have a PB farm your returns will get lower over time" That sounds like magic to me as the size of you farm has no bearing on the reduction in reward due to network size and time.

    Rich



  • Why are you not solo mining?



  • solo or pool, the reward is relative. The difference is negligible. The only way to tell it is to try it. Go solo for 3 months and pool for 3 months to tell the difference. Or run two PCs, one solo mine and the other pool mine for 3 months.



  • @tross said in Solo mine or Pool mine on 70tb +:

    Why are you not solo mining?

    Because I prefer being a part of a team, because I like the Display & info I get on a Pool, because I don't want the hassle of ensuring my wallet is not on a fork and because I think, but cannot prove, that if you have a fast Miner there is a benefit to being on a Pool, as I have described above, that largely negates the pool fee. 🙂

    Rich



  • The only benefit of a fast miner is to get all your TB read before next block. The DL are on the plot either you have the best one or you dont.
    To offset fees I run a burst bash and next one is 30k burst. My pool has generated 5 mil burst since August if you had stayed at my pool you would of got a big chunk of it. I invested most of what I earned back to the pool miners. I have spend over 100k burst with burst bashes and making manual payments when the system freaks out. What other pool would of done that for you? Heck you remember that day when all but my pool fell out for about 6 or 7 hours? We got around 60-70 blocks during that short time. If you would of been on board there would of been more. You would of loved those payouts! Them Ninja clones fall out quite a bit but I am here 24/7 and am constantly checking status.



  • @tross said in Solo mine or Pool mine on 70tb +:

    The only benefit of a fast miner is to get all your TB read before next block. The DL are on the plot either you have the best one or you dont.

    This is too simplistic a view. The faster you read your plots the greater the chance if you find a short deadline that you will be the Block winner even if there is someone else, who given more time would have had a better Deadline than you.

    As a Solo Miner this will win you more Blocks than the Average Miner. As a Pool Miner as well as that benefit it will also give you a greater share of the reward, relative to the others on the Pool every short Block.

    I cannot quantify the benefit, but I do know that over several months I have tracked my total reward and back calculated what that reward would have been if mining Solo and have always been better off on a Pool.

    Could just be luck, or something I have not thought of, but I am sure that there is a significant benefit in having a Miner that reads the plots faster than the average.

    It's not just do you get through all the plots in the allotted time, but also can you do it quicker than most other people and hence get a greater share of the reward on the Short Blocks.

    Rich



  • In my opinion the only reason to mine in a pool is if you have 5TB or less plotted because it will take you about a week to hit a block and that's a long time to wait just to see if the thing works. I hit one or two blocks a day mining solo with 50TB, so I see no reason to switch to a pool.



  • @RichBC lol



  • NEWS pool mined more than a million in just a month. Hmmm. We only have 80+ miners.



  • @tross said in Solo mine or Pool mine on 70tb +:

    @RichBC lol

    So what's that supposed to mean, or are you just saying that my answer is laughable?

    Rich



  • No man our discussion because it is getting no where. So lets just answer caligiuri question in a simple way!

    "Solo mine or Pool mine on 70tb +" Try pools and try solo but give both a chance to work. Whats good for you may not be good for others! You have to find whats best for you!



  • @tross Agreed.... and to be honest there is very little difference whichever way you choose to go, so long as.

    If you are Pool Mining you have a reliable and responsive Pool and if you are Solo mining you keep your wallet from Forking. Down time of any sort really takes it's toll on earnings.

    Rich



  • @tross I agree, I should try both and see what works best. I was pretty happy yesterday with the pool cause difficulty went down a bit and I made 10k burst!