Eth pool mining vs solo
I used the Mining Calculators from Etherscan and Cryptocompare. Not really, unless you know what altcoin will be popping. Also solo mining is a lot more maintince, you constantly have to monitor you geth nodes, if it goes down of the geth server crashes you have all your miners with no work spinning their wheels. We further explain the more profitable choice between pooled mining and solo mining currently. You could go three weeks without a block. Gold miners know the difficulty and danger associated with it, but of course, they know what they stand to gain so why not take the risk.
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Ethereum SOLO Mining Pool
Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. Let's say that a user has a decent amount of computing power. At the current difficulty of Is it more profitable for him to solo mine or to pool mine?
What are the differences in this situation? It completely depends on the "pool fee". Theoretically, with a zero percent pool fee, solo mining and pooled mining should, over the long term, produce precisely the same revenue.
The only exception is that some most pools keep the transaction fees for themselves. It will be completely random though. You could mine two blocks in a day. You could go three weeks without a block. When the difficulty changes, not only will the amount you get paid change that always happens but the time between payments will change drastically as well.
If you mine in a pool, you take the pool fee right off the top. Also, most pools don't pay transaction fees. But your revenue is more predictable. You'll get paid on a regular basis and your payments won't vary much until the difficulty changes, of course. One advantage to solo mining is that it's more reliable. Pools have outages and have had a problem with denial of service attacks lately.
Mining solo, you aren't relying on other people's systems to keep your mining going. If you pick a very reliable pool, or use a mining proxy with a "fallback pool" configuration, this isn't a major issue. One advantage to pooled mining is that you get to use the pool's tools. These include things like web-based control panels, alerts, and so on. The rule of thumb I recommend is to solo mine when you have enough hash power to generate at least one block per day on average and use a pool if you have less than that.
Solo is more profitable in the long run for the reasons David stated. And if you do the math, you will see it is independent of hashrate. Only variance is higher. But you should consider pool hopping as well for maximum profit. By always mining at the pool with the currently highest projected share price for the next block, you will earn even more than you would mining solo.
If the difficulty doesn't increase before mining a block, then solo mining is more profitable, because the pools normally take fees. Sign up to join this community.
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David Schwartz David Schwartz Stephen Stephen 4 4 silver badges 6 6 bronze badges. Sturle Sunde Sturle Sunde 11 1 1 bronze badge. Jo Rijo Jo Rijo 2 2 bronze badges. Pool mining is equivalent to solo mining before fees. The chances of a pool finding a block or a solo miner finding a block at the same difficulty are identical. Hence pool mining is always less profitable in the long run, independently from the difficulty. The pool fee is what you pay for an ensured steady income, instead of having a large income one month and then going months without any income.
In which case the pool helped you. Sign up or log in Sign up using Google. Sign up using Facebook. Sign up using Email and Password. Post as a guest Name. Email Required, but never shown. The Overflow Blog. Psychological safety is critical for high-performing teams. Using synthetic data to power machine learning while protecting user privacy. Featured on Meta. New post summary designs on site home pages and greatest hits now; everywhere Linked Related 6. Hot Network Questions. Question feed.
10+ BEST Bitcoin Mining Pools (High BTC, Ethereum Payouts)
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Solo mine or mine in a pool solo vs pool mining ethereum
Join us on Twitter or Telegram. Customize Settings Accept. When it comes to investing in Ethereum , mining is one of the more popular ways. It is the activity of dedicating computing resources toward the verification of transactions and generating new Ethereum blocks. It also entails contributing to the governance and security of the network. This detailed guide will learn about the unique features of mining Ethereum and how different it is from mining Bitcoin. Ethereum is a decentralized autonomous blockchain network comprised of three parties:. The developers create the code and implement technical changes to the network. The miners help generate the new coins, confirm transactions and contribute to the governance of the blockchain. Users take advantage of the selling proposition of the network.
Ethereum Mining Guide (2021)
Bitcoin Mining Pools are groups operated and organized by third parties to manage hash power from miners worldwide. These platforms share the resulting Bitcoin in ratio to the hash power that is contributed to this pool. Following is a handpicked list of Top Bitcoin Mining Pools, with their website links. The list contains both open source free and commercial paid software. Binance is one of the best platforms to create a bitcoin wallet.
How to Choose a Cryptocurrency Mining Pool
A mining pool is a group of individual miners who work together to mine cryptocurrencies — in this case, Ether. On your own: If you mine Ether on your own you receive all the rewards without having to pay anyone else or share the proceeds. Through a mining pool: By joining a mining pool, you can add your hash power to the combined hash power of the group, thereby increasing your chances of finding and verifying a block. The reward for finding a block is shared with all the miners in the group. Through cloud mining: Instead of owning hardware, you can rent time from existing miners. You avoid the initial set-up costs of buying hardware, but you have to pay a fee to the third-party miners.
I promise I will stop posting new topics, but I have been trying to sync for such a long time I am playing catchup! I would like to try solo mining on one of my rigs to test my luck. The node is synced, and I have already connected my node to Metamask. I even compared the latest block on Etherscan to verify it is synced, and all looks good…. I am not sure about phoenix miner, but it could be an issue with the version, I think it needs a 2. Are you able to get any logs when you start your miners for connections made or etc?
stratum-ping VS solo
Cryptocurrencies run on blockchains. A Blockchain is a sequence of blocks. Each new block is a piece of data.
Increase Profits by Mining Ethereum with PoolsRELATED VIDEO: ETHEREUM - WHY WE SOLO MINE - 380 MH/s
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Ethereum cryptocurrency has been steadily holding the second position in terms of market capitalization for many years. ETH cryptocurrency has attracted a large number of miners. Indeed, unlike Bitcoin, Ether can be mined using ordinary video cards. Mining requires a lot of tough work and expensive hardware. Any Ethereum mining pool is a server that distributes the task of mining among the participants.
There are three main ways to participate within a blockchain network. You could be a user, a developer, or a miner. Miners are transaction validators and block creators.