Pool Vs. Solo Mining
This article or section contains information that is no longer up-to-date. Please either update the outdated information or remove the outdated information. Although most miners prefer to mine in pools, there are still merits to solo mining. An article addressing the pros and cons of solo and pooled mining can often answer questions easier than simply asking in: #bitcoin-mining . Additionally, this page can serve as a reference for members of #bitcoin-mining to direct those with questions. The purpose of this page is to explain what the differences between pooled mining and solo mining. This Topic will give pros and cons of each to aid in the decision of a mining approach. Pooled mining "pools" all of the resources of the clients in that pool to generate the solution to a given block. When the pool solves a block, the 12.5 BTC generated by that block's solution is split and distributed between the pools participants. Solo mining is when a miner performs the mining operations alone without joining a pool. All mined blocks are generated to the miner's credit. Pooled mining generates a steadier income. Pooled mining can generate a 1-2% higher income (before fees, if any) due to long polling provided by the pools. Pool mining can suffer interruptions from outages at the pool provider. Pools are subject to DOS attacks and have other downtimes, too. Backup pools and solo mining can be configured for these cases. Pooled mining tends to generate a smaller income due to fees being charged and transaction fees not being cashed out. There are zero fee pools. Until now, transaction fees are not cashed out by any pool. Solo mining is less prone to outages resulting in higher uptime. Solo mining doesn't incur any fees. For each discovered block, 12.5 BTC and the transaction fees are Continue reading >>
Bitcoin Solo Miner: The Odds In 2017
Years ago, I won a book as reward for completing a little challenge which consisted of solving the following problem: While driving, I came across a milestone that read a two-digit number ab. One hour later, I saw a new milestone reading the same digits in reverse order ba. Another hour later, I encountered a new milestone with a three-digit number, the same digits as the first milestone separated by a zero: a0b. I was driving faster during the first hour and the difference between the two speed values is a two-digit number. Reversing the two digits on that number gives the value for the first speed e.g. if the speed difference is xy then the first speed value is yx. Can you find a and b? This problem can be solved through logic (not spoiling in case someone feels inspired). But timing was important so I opened my C++ IDE, wrote the brute-force search below, set a breakpoint to read the values and submitted the answer: for (int x = 1; x <= 9; ++x) for (int y = 1; y <= 9; ++y) for (int a = 0; a <= 9; ++a) for (int b = 0; b <= 9; ++b) if ((!((b * 10 + a) - ((a * 10 + b) + (x * 10 + y)))) && ((a * 100 + b) - ((x * 10 + y) - (y * 10 + x)) == (b * 10 + a))) /* Solution found. */ Basically, it is comparable to what Bitcoin miners do for proof of work . While academic cryptanalysts are constantly doing research and analysis to break cryptographic algorithms, no practical attack has been found so far on the SHA256 hash function so the fastest known way to find a block header hash below a specific target is by brute force search. Miners are essentially playing a lottery game in which increasing their computational power would increase their odds of winning the current 12.5 BTC block reward (e.g. Block #487465 ) about $50K at current BTC/USD rate of $4181.1. Since the mining dif Continue reading >>
Ethereum Mining Guide For All Operating Systems
BestVPN Guides Ethereum Mining Guide for all Operating Systems Ethereum Mining Guide for all Operating Systems Ethereum mining can be difficult, I know! In this guide, Ive covered everything from the bottom up so whether youre a beginner or a pro you should be able to glean some useful insight and learn something new. It doesnt matter if youre planning to do mining using Linux, ethOS or Windows. Ive made sure to cover the steps for each. You will also find some great tips, tricks, optimizations, and solutions to common troubleshooting issues. If you dont have time to read all of it today, then bookmark this page, or sign up to our email list and receive it as a free ebook! Ethereum is an open blockchain platform similar to Bitcoin but with additional in-built flexibilities. With Ethereum, the blockchain can be considered to be intelligent thanks to the Ethereum Virtual Machine and Smart Contracts. Whereas with Bitcoin its a glorified ledger. With Ethereum you can execute code on the blockchain in a distributed way. These are called Smart Contracts. These allow you to set up a system, whereby a person will only receive payment under certain conditions. As Ethereum grows, the scale and complexities of these contracts are expected to increase. Smart Contracts is what has given Ethereum such a solid footing, as like with the blockchain has a functional use. If youre interested in about how Ethereum came about and wanted to find out more about it, then watch this YouTube video by COO, Stephan Tual . Before you determine if you should go on your Ethereum mining adventure; youll need to decide whether its going to be profitable or not. While, on the surface, this is incredibly easy, as Ill show below, you must be aware that mining is very much like trading. Cryptocurrency pri Continue reading >>
What Is Solo Mining & How It Works For The Miners In The Bitcoin Network?
Solo mining is a solo process where the miner completely does his task of mining operations without any helping hand. This process is mainly done alone without joining a pool. These blocks are mined and generated in a way to the task completed by the miners credit. This is a small brief on Solo mining and its process. Solo mining is the process of mining alone as we told earlier. We are aware that when you connect yourself to a pool, the process that mainly happens is that all miners get connected to the same bitcoin -client to confirm transactions . This helps to increase the probability of finding a block directly. Further, the block provides incentives from the shares from all miners . If you do the process of solo mining , make sure to connect your miner to your local Bitcoin client. This is for getting the best results to find a block on your own. The probability will tend to decrease and lower, but in turn, you do not share the block incentive. We all know how the Bitcoin network works. If your interest is to go for a long run solo mining and pooled mining you will get you exactly the same amount that you expected. In this new digital world, the real option always goes with pooled mining because it is definitely the better way if you have the hardware which consists of small hash rate. The several tens of TH/s can be used to get more rewards from the solo mining than pooled mining. The current hardwares utilized for the process of solo mining can deliver an experience which is more like playing the lottery. But if you do it right you can exit with a lot of cash. What you need to solo mine How it Works? Firstly, install the Bitcoin -core which is hardware used for solo mining process. Henceforth, start it and complete the download of the blockchain which is almost Continue reading >>
Best Method To Mine Virtualcurrency In 2017: Bitcoin, Zcash, Litecoin, Ethereum
Best method to mine virtualcurrency in 2017: bitcoin, zcash, litecoin, ethereum When buying mining hardware became profitless for normal people, it started to appear a lot of websites that sold infinite mining contracts or for a period of time.If you do the proper math on those contracts, you will find that you will lose money and the best option is just to buy bitcoin (even if the price raises).So those "mining contracts" are in most of the cases a scam, even if they own the mining hardware. Today after several research we found a great idea, which is called nicehash . This website is not a mining contract, it actually connects the miner and the people that needs hash power.They provide a platform where buyers of hash can place a bid for certain amount of hashing power. Several people is doing SOLO mining while buying a lot of hash power to increase the chance of obtain the block solution. Nicehash can be very lucrative when you need a lot of hash power in short period of time and it can cost little money. We were doing some test from both sides, buying and selling hash power and the site is real. We also made several houndred dollars buying hashing power for certain moments where mining is the right thing to do. Here is the result of our mining rigs with 4 gpus, two rx 470 and two hd7950: Continue reading >>
Ethereum Solo Mining - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies Those that actually solo mine crypto coins are familiar with the not user friendly way that things happen and mostly the lack of details on your solo mining statistics over time unlike when using a mining pool. Ethereum is a no exclusion from that rule when solo mining and with not that many pools and some pools having issues, even though the difficulty of the network is not that small, there are still quite a lot of people that solo mine especially if they have more than just a few GPUs. There is now a new open source project called ether-proxy which essentially is an Ethereum solo mining proxy that can help you keep track on how your solo mining for Ether is going on with multiple mining rigs, though it will work even with a single one. EtherProxy relies on Go and needs geth (the Ethereum Go client in order to function as a backend) with the mining part happening just like you do with ethminer pointed at a mining pool. In the local proxy url you set for ethminer to use you can set the share difficulty as well as an ID for each mining instance (or mining rig) that you are using. All the basic stats that you need is being displayed in a clean and simple web-based interface for you to keep track on things like running status of mining rigs, hashrate, blocks found and so on. If you want to try the project yourself, there is already a Windows binary release available to save you some trouble or you can compile from the source code yourself. Ethereum is Getting More User Friendly with AlethOne The C++ implementation of the Ethereum client (cpp-ethereum) is getting more user friendly with the new AlethOne GUI intended to simplify the mining process for users that are not into programming and hate Continue reading >>
Ethereum Solo Mining
can any one tell me how to mine ethereum solo with GPU ? AMD GPU You will not be able to mine any Ethereum doing solo mining. Even if you had more than 100 AMD GPUs estimates you would have to wait years just to find a single ethereum block. You will need to join Ethereum mining pools like nanopool.org or ethermine. I highly recommend you do more research. Google has a wealth of knowledge on how to start mining and this topic is extensively discussed. Quote from: jmigdlc99 on December 14, 2017, 09:50:32 AM You will not be able to mine any Ethereum doing solo mining. Even if you had more than 100 AMD GPUs. You will need to join Ethereum mining pools like nanopool.org or ethermine. I highly recommend you do more research. Google has a wealth of knowledge on how to start mining and this topic is extensively discussed. ethpool.org i mine there witb my 5ghs sometimes , i get a block every six days or so sometimes an uncle too You can definetley solo mine ETH with 100 AMD RX 570/580 GPU's. With 3 GH/s it would take about a week on average to find a block. For most people though, a pool like Ethpool.org is a better option. On Ethpool you accumulate credits towards a full block payout and only receive a payout once you accumulate enough credits to be the first in line at the top of the payout list for the next block found by the pool. Once you reach the top, you receive the next full block payout of ~3 ETH plus an Uncle payout if it's an Uncle block. It's like solo mining, but you don't lose credit for the work you did if you don't find a block, like you do with solo mining. You also have the benefit of being able to estimate when you will receive a payout by looking up your wallet address on the miner stats page. Continue reading >>
Beginner's Guide To Ethereum Mining In 2017 - How To Mine Ethereum On Your Pc?
Last updated on August 15th, 2017 at 11:06 pm Getting Started with Ethereum Mining the video guide The good news is that getting started with Ethereum Mining is now easier than ever. You do not need to download the full Ethereum blockchain, which is now over 20+ GBs and still growing! You also do not need to manage clunky command line miners with manual instructions. For purposes of this guide, we are going to do a detailed walk-through of setting up and using the very popular Claymore Miner. Get the current version here from Claymores original Bitcointalk thread and then follow along with the steps in this video. The whole process of getting a wallet setup, downloading your miner, configuring things in Windows and setting up your batch file to run should take less than 10 minutes: If youre new to mining Ethereum , this guide covers all the important facts in a simple, low-jargon way. Lets start with some short answers to common questions about Ethereum mining: Q: Whyshould Imine Ethereum tokens (aka ether or ETH)? doesnt mining Ether take up a lot of electricity? A: If done properly, more money is earned by selling mined ETH than is spent on electricity. In other words, its profitable! You can check out the profitability with our Ethereum mining calculator . Q: Can I mine with my CPU (Personal computersprocessor) instead ofan expensive graphics card (GPU)? A: GPUs are so much faster that CPU-mining is no longer profitable or worthwhile. Even entry-level GPUs are about 200 times faster than CPUs for mining purposes. Q: Whats the best GPU to use for getting the most ETH for the least electricity? A: AMD cards tend to edge out similarly-priced NVidia cards in terms of efficiency. We cover the best cards to get under the heading GPU Hardware further down in this post. Q: Continue reading >>
Solo Mining Pools - Gambling For The 21st Century - 2miners Blog
Solo Mining Pools Gambling for the 21st Century In many countries, gambling is prohibited forcing those who want to catch their bluebird of happiness to go abroad or to select areas and visit casinos and slot halls.It just happens to be that mining is also a sort of casino, in its own way. And we will tell you why. The GPU miner rigs or ASIC devices of one miner are going through billions of combinations searching for the desired block solution. The moment fortune smiles at him and one of his devices find the right solution of the block; the miner gets the reward. The difficulty of mining the most popular cryptocurrencies is so high that the miner cant deal with it on his own. But if he calls his friends to help, and they will, there's a chance they will find the right solution pretty fast. They will split the reward in this case. Thats how the mining pools are born. In cases with different cryptocurrencies for each block found you get different amounts of coins. For instance, for a block of Zcash (ZEC) miner gets 10 coins (currently $2400), for a block in Ethereum network - 3 ETH coins or $900. There are also lower rates, for example, a block of Pirl will give you 10 coins ($4), Ethereum Classic - 5 coins ($84). Ah, dont forget about His Majesty Bitcoin...12.5 coins or $82530! Lets imagine you are rolling the dice and you need to get 6. In the perfect world, if you roll it many times, number 6 should appear in 16,67% of cases, i.e., every sixth time (since the dice has six faces), right? In real life, you can get lucky, and the number 6 will appear a few times in a row if you experiment. The process of solution searching in mining is equivalent to rolling the dice, even though it sounds strange. You are competing with the whole world, but the point doesnt change. Lets Continue reading >>
How To Mine Ethereum On A Windows Pc?
You can also mine Ethereum Classic (ETC) if you start your geth in Step 7with the param --oppose-dao-fork. Read this ifyou want to understand what Ethereum Classic is . Running a CPU you might be able to generate 0.15 Mega Hashes whilst with a decent GPU with enough memory you could be doing upwards 25 Mega Hashes ( you can choose a GPU to mine ether here and use our guide on how to choose a GPUto mine ether ). So in terms of total efficiency, taking into account electrical costs, a GPU is definitely worth it even if it costs you $200. You can also try buying a cloud mining contract with Hashflare or Genesis Mining . Part 1 - Installing GETH, Syncing the Blockchain & creating your own address! Step 1: The first thing you need to do is go to this link download Geth . Geth is the program that communicates with the Ethereum Network and acts as the a relay between your computer, its hardware and the rest of the ethereum network computers so if a block is mined by another computer your Geth program will pick it up and then pass on the new information onto your GPU or CPU for mining. Step 2: You need to unzip the GETH file and move it to a location on your hard drive. In this case we'll move it to the hard drive, usually (C:) - which will make the next step easier. All you need to do is copy the file you have downloaded and unzipped and move it to the hard drive folder. Step 3:Now you need to run the program you just downloaded. To do this you need to run Command Prompt. You can do this by searching in the search function in Windows for "CMD" and then clicking on it when it shows up. Step 4: Command Prompt is now open - and can look terrifying to people who aren't familiar with it. The Command Prompt box usually has C:\Users\Username>showing in it - where Username is your us Continue reading >>
How To: Calculate Mining Profits 2017/18
If youve ever heard of cryptocurrencies, youve probably heard of mining. The sole reason most cryptocurrencies can function is due to mining. Without miners, the blockchain cant be validated every time someone wants to make a transaction. If the blockchain doesnt get validated, there is simply no way to know which transaction is legitimate and which is not. Becoming a miner doesnt come without reward, however. There are two things which your reward is based off of. For example, whenever you decide to send some Bitcoin, Ether, or whatever other currency youre using, youve probably noticed the added fee, which can either be listed as a transaction or a mining fee depending on your wallet. This fee gets tacked on to whichever miner cracks the code and completes the block. Though this reward is quite minuscule, the real treat is the block reward, which for Bitcoin is 12.5 Bitcoin equal to an astounding $48,314 USD! One of the benefits in investing a couple hundred, or a thousand into a mining computer instead of into the currency you are eventually going to mine, is the fact that in the very unlikely event that the headline in the morning is United Nations Ban All Forms Of Digital Currencies,you can still sell your mining computer. At a loss nonetheless, but its still better than nothing. However, if you invested that amount into a currency instead, that currency will most likely be worth nothing. Although there still is the chance that the currency goes up by 100% overnight, leaving you in the dust with a mere mining rig. Another benefit is that in case the currency you are mining drops in value, you can easily swap to another coin and regain your profits that way. Take Ethereum for example. One year ago and with a small mining operation, it was very easy to mine 1 or 2 E Continue reading >>
How Do Mining Pools Work? Is It Better Than Solo Mining?
How do Mining Pools Work? Is it Better Than Solo Mining? Admir Tulic October 24, 2017 420 no comments Lets start with the definition of pool mining: A Mining Pool is a protocol for a group of miners to work together, in order to smooth out their mined coins. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time. So, bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. The mining pool coordinates the workers. Its just like a lottery pool. Your odds of winning a lottery are very low, so you team up with a bunch of other people and agree to split the winning. This makes your odds of winning much higher, but the amount you win much lower. What a mining pool does is function as a coordinator for all the pool participants doing: Recording how much work all the participants are doing Assigning block rewards proportionally to participants Miners mine differently by running pool software instead of the bitcoin client and just performing hashes for the pool. The pool operator randomly verifies a small portion of the work submitted by each member of the pool. The member miners dont know which of their submissions will get verified so they cant cheat. If they cheat once in a while they might get away with it but not for long enough to matter. Traditionally, pools gave miners work units covering the entire nonce range 0-4,294,967,295. When the miner finishes work, he r Continue reading >>
Ethereum Solo Mininig
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. i have 3 rigs with hashing power of 330 mh do u think i might have good luck solo mining or stick with pool? If you want steady income, use a pool. The hash rate is too low. I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switch to solo mining. I have read a few month old forums saying over 100 was ok and I found one more recent post about anything under 5gh is not worth it. Would like to know from the big guys a good number to start looking to solo mine The difficulty is so high right now that it would take forever (In theory) of finding a block. You are welcome to try your luck but solo mining can get scary when your rigs are running but no coins are being produced for a long period of time. Quote from: bughatti on April 19, 2017, 01:40:07 AM I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switch to solo mining. I have read a few month old forums saying over 100 was ok and I found one more recent post about anything under 5gh is not worth it. Would like to know from the big guys a good number to start looking to solo mine 500mh to 2gh, use ethpool because they will pay you the full reward for uncles. 2ghz+ you can try solo mining, but most solo miners are 50+ systems. The BEST Crypto exchange in India, where you can buy/sell/trade Bitcoin, BitcoinCash, Litecoin, Ethereum and Ripple, and use a credit card With that hashrate you will find maybe 1 block a week. Quote from: bughatti on April 19, 2017, 01:40:07 AM I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switc Continue reading >>
Ethereum Solo Mining - Crypto Mining Blog
All About BTC, LTC, ETH, ZEC mining as well as other alternative crypto currencies Those that actually solo mine crypto coins are familiar with the not user friendly way that things happen and mostly the lack of details on your solo mining statistics over time unlike when using a mining pool. Ethereum is a no exclusion from that rule when solo mining and with not that many pools and some pools having issues, even though the difficulty of the network is not that small, there are still quite a lot of people that solo mine especially if they have more than just a few GPUs. There is now a new open source project called ether-proxy which essentially is an Ethereum solo mining proxy that can help you keep track on how your solo mining for Ether is going on with multiple mining rigs, though it will work even with a single one. EtherProxy relies on Go and needs geth (the Ethereum Go client in order to function as a backend) with the mining part happening just like you do with ethminer pointed at a mining pool. In the local proxy url you set for ethminer to use you can set the share difficulty as well as an ID for each mining instance (or mining rig) that you are using. All the basic stats that you need is being displayed in a clean and simple web-based interface for you to keep track on things like running status of mining rigs, hashrate, blocks found and so on. If you want to try the project yourself, there is already a Windows binary release available to save you some trouble or you can compile from the source code yourself. Ethereum is Getting More User Friendly with AlethOne The C++ implementation of the Ethereum client (cpp-ethereum) is getting more user friendly with the new AlethOne GUI intended to simplify the mining process for users that are not into programming and Continue reading >>
Beginner's Guide To Ethereum Mining - Step By Step (2018 Updated)
Dont like to read? Watch the video version of this guide: Before we dive into the details of how to mine Ether, its important we understand a little about Ethereums blockchain. Not surprisingly, the basics of Ethereums blockchain are pretty similar to Bitcoins. The best way to understand it thoroughly is to read our guide on Bitcoin mining . While conceptually the two are much alike, there are significant technical differences. Some are more obvious; For example, Ethereum blocks are added every 15 seconds (average) while Bitcoin blocks which are added every 10 minutes (average). As a reward, Ethereum miners receive 3 ETH plus all transaction and code-processing fees (aka gas ) contained in their block, plus a possible bonus for any uncles they include. As for the mining algorithm, Ethereum uses a hashing algorithm known as Ethash which is different than Bitcoins hashcash. Ethash is incompatible with the special hashing hardware ( ASICs ) developed for Bitcoin mining. Moreover, its a memory-hard algorithm; meaning its designed to resist the development of Ethereum-mining ASICs. Instead, Ethash is deliberately best-suited to GPU-mining. Assuming the amount of hardware dedicated to Ethereum mining is rising, why arent blocks being mined ever more rapidly, such that the average 15 second block time has decreased? By automatically adjusting the computational difficulty of solving a block, the Ethereum blockchain is able to maintain ~15 second intervals. Youll notice Difficulty closely tracks hashrate. The next obvious question is what drives changes in hashrate and difficulty in the first place? The answer is price! As can be seen in the image below, hashrate has followed (with some appreciable lag) the ETH price: Daily chart of Ethereums US Dollar value, courtesy of Tradin Continue reading >>