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 Please either update the outdated information or remove the outdated information.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 >>
How To Mine Litecoins: 13 Steps (with Pictures) - Wikihow
Understand the basics of cryptocurrency mining. Traditional currencies are printed to increase the amount of cash in circulation. Cryptocurrency such as Litecoin is generated by machines that solve complex algorithms. Whenever a "block" of algorithms is finished being processed, more currency is released into the market, usually as a reward to the miner that finished the block.  Mining algorithms become more difficult as more currency is mined. This is intentional as it helps prevent all of the possible currency from being mined immediately. The practical side effect is that the longer you wait to start mining, the less likely you are to solve blocks on your own. Mining pools were created to help individuals have a better chance at making money from mining. The mining pool applies all of its members' processing power to solving a block, and if the block is finished by any member, all members get a share of the reward. You'll get far less reward than if you finished the block on your own, but have much higher chances of actually seeing results. Consider alternatives to mining. Unless you're willing to drop thousands of dollars on a dedicated mining machine, or you don't pay for electricity and don't care about the lifespan of your home computer, there's very little reason to mine Litecoins instead of just purchasing them. The electricity costs of mining 24/7 often outweigh the value of anything you mine, especially if you're using a home computer, and running constantly puts a serious strain on your hardware components.  Litecoin mining is only going to increase in difficulty, as this one of the fundamental principles of cryptocurrency mining. This means that it will get more difficult to mine at a profit unless the value of the Litecoin sees a significant boost. Continue reading >>
Welcome To Solo.ckpool.org!
Miners closer to Europe please use one of: If you use an incompatible rental service that refuses to work on port 3333 try the following: If you have an asicminer tube/prisma, you can use a custom port 3335 (only accepts usernames without worker extensions) eg: Set your username to your btcaddress with any or even no worker extension, and any password. eg: cgminer -o stratum+tcp://solo.ckpool.org:3333 -u 1PKN98VN2z5gwSGZvGKS2bj8aADZBkyhkZ.0 -p x If you enter an invalid address you will be rejected Regular miners struggling to recoup costs who wish to take extra risk for greater reward potential for part or all of their hashrate The last backup for all miners who don't have a solo setup or wish to avoid the overheads of running one Miners with old/inefficient miners that will never earn any rewards through regular mining that wish to leave it mining as a lottery Miners with many devices wishing to consolidate their devices into a single connection to solo ckpool are recommended to use the complementary ckpool code as ckproxy stratum proxy (for linux). Simple total pool statistics can be found at pool Solo.ckpool.org currently only displays minimal per user and worker information. To access user statistics, enter your BTC address below: or append your username to: Mining at solo.ckpool.org avoids the overheads of running a full bitcoin node that requires both great storage and bandwidth for optimal performance. Solo.ckpool.org is extensively connected to high speed low latency bitcoin nodes for rapid block change notification and propagation. Unlike regular pools, ckpool never mines transaction-free blocks due to its ultra-scaleable code which has miners on both new blocks and transactions concurrently. ckpool automatically takes your bitcoin address and gives you a uniq Continue reading >>
Ltc Solo Or Pool ?
Hi, i'm wondering which mining method is more profitable for LTC difficulty today ? i have read something about 14 days for solo to find a block is that for first block only or for every block ? i'm at 3000 MH/s so which's better for that hashrate speed solo or pool ? Quote from: albetli on October 02, 2017, 02:12:25 AM Hi, i'm wondering which mining method is more profitable for LTC difficulty today ? i have read something about 14 days for solo to find a block is that for first block only or for every block ? i'm at 3000 MH/s so which's better for that hashrate speed solo or pool ? It's average 14 days solo for every block. I will recommend you to go with pool mining as it'll provide consistent payments every day. When you're solo mining, the collective hashing power of your rigs is working to find a block in litecoin network competing with all other miners. It can be a day if you're extremely lucky, probably 14 days if everything runs smoothly or probably more than that. You never know because it all depends on luck for finding a block. If for any chance your rigs malfunctions and you need to restart them, or internet doesn't work for an hour or any downtime reason. That's why it's better to stick with pool mining, receive consistent rewards. Now, if you want to do solo mining, in any scenario, you should have enough hashrate to find a block in an average a day. Quote from: albetli on October 02, 2017, 02:12:25 AM Hi, i'm wondering which mining method is more profitable for LTC difficulty today ? i have read something about 14 days for solo to find a block is that for first block only or for every block ? i'm at 3000 MH/s so which's better for that hashrate speed solo or pool ? It's average 14 days solo for every block. I will recommend you to go with pool mining as Continue reading >>
Home - Litecoin Mining
You have heard of the extraction of Litecoin and you want to know more.This page is for you. Just like his older brother Bitcoin, Litecoin is an online network that people can use to send payments from one person to another.Litecoin is peer-to-peer and decentralized, which means it is not controlled by a single entity or government.The payment system does not manage physical currencies, such as the dollar or the euro;Instead, it uses its own unit of account, which is also calledlitecoin(symbol: or ).This is why you will often see that Litecoin is classified asvirtualordigitalcurrency.Litecoins can be bought and sold for traditional money to a variety of exchanges available online. If you already know Bitcoin, Litecoin is very similar, the two main differences being that it has faster confirmation times and it uses a different hash algorithm. Instead of having a central authority that ensures and controls the money supply (as most governments do for their national currencies), Litecoin disseminates this work through a network of miners.Miners assemble all new transactions appearing on the Litecoin network in large sets calledblocks, which collectively constitute an authorized record of all transactions already carried out, thechain of blocks. The way Litecoin makes sure that there is only one block string is to create blocks that are really difficult to produce.So, instead of just being able to create blocks at will, miners must produce a cryptographic hash of the block that meets certain criteria, and the only way to find it is to try to compute several of them until that you are lucky and that you find the one that works.This process is calledhash.The miner who successfully creates a block is rewarded with 25 freshly cooked litecoins. Every few days, the difficulty of Continue reading >>
Solo Vs Pool Mining For New Crypto-currencies?
Solo vs Pool mining for new crypto-currencies? mining-pools litecoin mining-profitability solo-mining ppcoin I have a not-so-good miner in terms of mining, like with CPU mining with LTC, it goes to 15 kHash/s which is pretty low. I thought nor pool mining nor solo mining will earn me much when at this speed. But what if when mining other crypto-currencies like NVC, TRC or PPC? They have a lower difficulty level and probably would yield more in solo mining. Simple question is that, if I want to mine them, what should I do, solo or pooled? and Why? Also, how much time approximately will it take to mine one block of any of these at this speed? Yielding literally "more" units of one currency compared with another isn't necessarily a good thing. Would you rather have 5 Japanese Yen or 5 US dollars ? The choice between mining solo or pooled is mainly one of variance; would you rather take a chance on trying to solve a block yourself, trying for a full block reward, or would you rather earn an amount roughly proportional to the work done (and probably pay a small fee for the privilege)? Unless you have a large amount of mining capacity, you may end up with nothing if you mine solo. Most people choose to pool mine for that reason. You may find this question of interest, discussing solo mining vs pooled. When it comes to time to solve a block, that's a completely different question, but this might help you . It will differ depending on the currency you choose (difficulty and perhaps hashpower will be different for each). What you should depends on your particular situation.The advantage of solo mining is that there is no fees, so all the credit goes to you, but if the difficulty changes before mining one block, then you've wasted recourses. (so you need to look at the average b Continue reading >>
Best Litecoin Mining Pool- Litecoinpool.org
Best litecoin mining pool- litecoinpool.org I happen to have invested $400 into litecoin in February 2017 and its now worth over $10,000 today. Well, you may be anxious to know how all this happened. If you really are a keen follower of cryptos, its easier to say that Litecoin is the only crypto that is really scaring the future of Bitcoin. From my earlier posts I had indicated that within last month alone, LTC experienced a 400% increase in its value and this was a better performance than Bitcoin. Solo mining of litecoin is very difficult as compared to mining in a pool where it takes a very short time to solve a block. For maximum profits, you have to join the best litecoin mining pool. Shortly, am going to tell you why litecoinpool.org is the best litecoin mining pool to join. Very soon solo mining will be bygones. Factors to consider before joining a pool There are so many LTC mining pools, before joining any of the pools its good to consider the following factors; Currency it produces; there are those that produce a specific currency and others allow you to mine many other currencies Methods of payment in the pool, these can be PPS [pay per share], PROP [proportional] or PPLNS [pay per last N shares]. Number of miners in that pool since you will be sharing the rewards. Well, there are several pools to mine litecoin but on taking into consideration of the above factors, litecoinpool.org stands out as the best litecoin mining pool to use. This pool has been mining litecoins since October 2011. Its payment method is PPS [payment per share]. It was started shortly after the birth of litecoin by a pooler who was one of the LTC core developers and it became the first pool for LTC mining. It controls 254 GH/s of the mining power Detailed charts and statistics that are up Continue reading >>
Mining Litecoin 2018 | Complete Guide To Mining Litecoin
Litecoin is a cryptocurrency that uses an algorithm known asScrypt. Litecoin is convenient as it can handle big numbers of transactions because of its fast block generation. Litecoin mining is the process of doing mathematical calculations with computer hardware, for confirming transactions. As a miner, you need to gather transaction fees, confirm them and be awarded Litecoins for each block that you verify. If you are interested in mining Litecoin then you are in the right place. Do you want to know how to mine Litecoin? Well, here are some methods of Litecoin mining with their pros and cons. If you dont want to spend a lot of money on equipment, but youre very much interested in Litecoin mining then cloud mining is a good solution for you. Cloud mining services rent out their facilities. It is a good alternative for minimizing costs as a miner (cheap electricity, low fees) and for being more productive. Cloud mining rates for Scrypt algorithm miners is $7.50 per 1 MH/s, with a minimum hash rate of 1MH/s, maintenance fee $0.005 / 1 MH/s / 24 hours. As you see, mining Litecoin may be rather profitable and you can have a breakeven in around 100 days. The hardware costs vary depending on speed, to give you an idea about the current prices: Radeon HD 7990 speed 1100 KH/s, power 375 W, Price $600 Radeon HD 7970 speed 700 KH/s, power 250 W, Price $310 Radeon HD 7950 speed 600 KH/s, power 200 W, Price $255. When you do solo mining, you keep the rewards just to yourself. Currently, the award per block is 25 new Litecoins (the number is halved with every 840,000 blocks). The rewards might not be as sustainable as in case of pool mining and might be a bit more complicated to start with. Solo mining the costs are a lot higher and to have a better idea you should check out the sp Continue reading >>
Guide: How To Solo Mine - Evga Forums
You will see this in your log you when complete a single block: [2014-01-07 17:34:51] GPU #1: GeForce GTX TITAN, 2983680 hashes, 592.57 khash/s [2014-01-07 17:34:51] GPU #0: GeForce GTX TITAN, 3212160 hashes, 649.43 khash/s [2014-01-07 17:34:54] GPU #0: GeForce GTX TITAN, 1545600 hashes, 636.70 khash/s [2014-01-07 17:34:54] accepted: 1/1 (100.00%), 1229 khash/s (yay!!!) [2014-01-07 17:34:56] GPU #1: GeForce GTX TITAN, 2970240 hashes, 595.12 khash/s [2014-01-07 17:34:59] GPU #0: GeForce GTX TITAN, 3185280 hashes, 644.39 khash/s [2014-01-07 17:35:01] GPU #1: GeForce GTX TITAN, 2983680 hashes, 594.58 khash/s ^- I was eagerly awaiting mine all daysince all I got were hashes. BAM, got my first Digitalcoin and 15.10 coins in my wallet! There are also other advantages I am noticing: Less network traffic. You are mining directly against your local machine, not connecting to an external pool. (Does anyone know if this works offline, or with intermediate connectivity?) No "DoS" attacks against the pools. This is your local machine, do as you wish. Want to fall back? No problem, setup a DOS batch or linux shell script to loop after a timeout - to retry your own wallet. Or, setup multiple different wallets in case your main wallet app crashes. (I am not sure what happens if you have multiple copies of the same wallet open across different machines. Does your mining 'transfer' over to the other one? I wouldn't think so, since only "blocks" gets submitted/transferred." You aren't sharing the awards with other users - especially VARIABLE pools that give slight advantages to lower-hashing users (less than 500 khash/s from what I've been seeing). It's a bunch of voodoo and hard to know exactly what the pool is doing (though I am sure most can be trusted). You also get a cool "mining" i 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 >>
Ltc And Doge (mm) Solo Mining Pool With Segregated Witness (segwit) Support
Welcome to tbdice.org LTC & DOGE (MM) POOL with Segregated Witness (segwit) support Anonymous solo Litecoin & Dogecoin mm mining pool based on ckpool form Technobit TBDice automatically takes your litecoin address and gives you a unique stratum connection mining to your own address. LTC: If you find a block, 99.5% of the 25 LTC + transaction fees get generated directly at your litecoin address! DOGE: If you find a block, 95.0% of the 10 000 DOGE+ transaction fees get generated directly at your doge address! All you need to confirm you are mining to your own address is to examine the coinbase and template sent to you over stratum. When you find a block, just follow the link in blocks page to double check where the coins went. Mining URL: stratum+tcp://tbdice.org:13333 or stratum+tcp://tbdice.org:13334 s(bf)gminer -o stratum+tcp://tbdice.org:13333 -u LUNyycVonDH9aQMZn1fxyUeu8N3yS8w7ud.0 (your LTC address.worker number -p x:DFeviTwbDbJXgjPRS6zxe74Z4hodvRrTKP (your password:DOGE address). This configuration is recommended. MutliSig addresses starting with 3 are properly supported. Set your username to your LTC address with any or even no worker extension, and any password. If you enter an invalid address it will be ignored and earnings will be generated to the following address: LUNyycVonDH9aQMZn1fxyUeu8N3yS8w7ud and be considered a pool donation. If you do not put a DOGE address in the password the DOGE earnings will be generated to: DFeviTwbDbJXgjPRS6zxe74Z4hodvRrTKP and be considered a pool donation. All invalid user names for LTC will turn RED on Users page, if you have no address for DOGE in the password the MM address on the Users page will say Pool. If you have it correct it will say Self. s(bf)gminer -o stratum+tcp://tbdice.org:13333 -u LUNyycVonDH9aQMZn1fxyUeu8N3y Continue reading >>
Solo Mining Released
Postby Steve Sokolowski Sun Jul 24, 2016 2:54 am The solo mining feature has now been released. Additional information is available in the documentation, near the "password arguments." Thanks for your understanding while we released the code and profiled and restarted the server. Everything should be back to normal now. Feel free to contact us if you have any problems. Postby JoeTheMiner Sun Jul 24, 2016 5:14 am Awesome! This is a very nice new feature in my opinion. Postby GenTarkin Sun Jul 24, 2016 7:00 pm Postby salamonovitz Wed Sep 06, 2017 3:02 pm hello how do i make solo mining with my baikal giant?? i have tried c=COIN I WANT m=solo and it doesn't work... please help... i want to mine cannabis coin... Postby bajula Wed Sep 06, 2017 10:23 pm Solo fol too ma kay chalia.* have you done (example) c=litecoin m=solo n=bob ? *I like Captain Solo where he is. - sorry couldn't help it. Postby hashingpro Wed Sep 06, 2017 10:33 pm Solo fol too ma kay chalia.* have you done (example) c=litecoin m=solo n=bob ? *I like Captain Solo where he is. - sorry couldn't help it. Postby GregoryGHarding Thu Sep 07, 2017 1:42 am Postby salamonovitz Thu Sep 07, 2017 5:53 am i want to solo mine with x11 algorithm... so can you give me an example how do i configure it?? cause my miner goes down everytime i put those codes... i have tried with a=x11 c=Cannabiscoin m=solo i don't know what else to do... hope you can help me! Postby hashingpro Thu Sep 07, 2017 6:40 am If all you want to do is solo mine a single coin to get that coin as a payout, there are probably other pools with a lower fee. The idea of this pool is you use your device to mine the best coin at the time, whatever that coin is, the system decides for you, and you earn $$$ that you can then decide how it gets paid out...in 1 co Continue reading >>
Guidelines For Solo Mining
I need help for solo mining, I already search at google and try some of the guide line but there's no result of doing the right solo mining, i'm using cgminer 3.7.2 and just got error pool 0 slow/down or url or credential... you need to run litecoind as a server form command line using -server flag also you need to create a .conf file containing the proper information...I have only used p2poo which is similar to solo please help me how to create proper .conf? my conf is bfgminer --scrypt -o 127.0.0.1 -u username -p mightypass --generate-to wallet addr but always get that error "pool 0 slow/down or url or credential invalid" same with cgminer too Change gen=0 to gen=1 this makes you generate blocks and your user name needs to be the address you are mining to...then you need to add -http-port 9333 to bfgminer bfgminer --scrypt -o 127.0.0.1:9332 --http-port 9333 -u my wallet addr -p mypassword form litecoin.conf it's come with error "No server were found that could be used to get work from", "please check the details from the list below of the servers you have input" try opening your wallet and use proxy to connect to peers under network tab and see what that does...did you start litecoind first and then bfgminer in that order? might try starting like this from command prompt: litecoin.exe -server -listen and also you will need to set bfgminer to -listen i'm pretty sure after i set network connection through proxy sock 5 there's no connection at all from the nodes, im doubt if there's any posibblity of doing solo mining through litecoin core? because i already test mining through pools the hash rate is very low....... is there updated guidline how to solo mining ...? I was wrong about that...doing that would make your litecoin node use bfgminer to send and receive work..t Continue reading >>
Setup Your Own Mining Pool
This guide is meant to replace Novices Guide to Setting up a Crypto-Currency Mining Pool Why the update? MPOS (Mining Portal Open Source) is very old now and NOMP (Node Open Mining Portal) has branched off into another project called uNOMP (Unified, Node Open Mining Portal). uNOMP has a very active development team and is updated on a regular basis. This not only ensures adequate support of new currencies, but also better security. uNOMP also has many things in one, and is easier to setup then the old MPOS/NOMP hybrid as described in the legacy guide. I have ran several large mining pool operations, and helped out at several more. The purpose of this guide is to enable more people the opportunity to run their own pool, whether it be for their own miners or just out of curiosity to understand how it all works. This is by no means meant to be a guide so you can setup your own professional mining pool operation. Running your own mining pool that other miners other then yourself will use is not an easy undertaking, and requires extensive systems administration experience as well as a large budget, patience, troubleshooting skills, and a solid knowledge of how crypto-currencies work. This guide will not be going over any security features. This guide is going over how to setup a uNOMP (Unified, Node Open Mining Portal) pool. This is meant to setup a mining pool for a single crypto-currency. This is not a guide for a multipool. If you want to see what it looks like before you set it all up, head to the Example Pool that was built completely off of this guide. If you are setting up a bitcoin pool, you will need more then 20GB of disk space because the blockchain is very large. I am using a Windows 10 based PC, and communicate with the VPS using Putty and WinSCP. This guide wi Continue reading >>
How To Mine Litecoin And Other Altcoins
CoinDesk Launches 2017 Year in Review Opinion and Analysis Series While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoins , many of the alternative digital currencies are still well suited for mining on your home PC. In this guide, well take you through all you need to know to start digging up a few litecoins, feathercoins or dogecoins without any costly extra equipment. For the most part, cryptocurrencies employ either SHA-256 or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. Row of Gridseed litecoin miners set up. Copyright: Arina P Habich Scrypt tends to be the more memory intensive of the two however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are no dedicated ASICs to compete with yet. Perhaps surprisingly, its still possible to use just your computers CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics; though this may not prove terribly effective and is not a set-up we would recommend. Before you start mining, you will need a wallet to keep your hard-earned coins in (see our guide to storing bitcoin ). A good option is to head to the homepage of the currency you intend to mine and seek out the download link for the default wallet app. If you would like to do more research into litecoin specifically, we have a guide on how to get started. If you find yourself in need of help and advice, most altcoins have community forums, as well as their own subreddit . The majority of wallets are based on the original Bitcoin-Qt client. Be warned, though, that before these wallets are truly usable, you may face a lengthy wait while t Continue reading >>