Solo Mining - Do I need to be mining contienously to earn ether?

fosil100fosil100 Posts: 6
I'm new to mining ether, so i apologize if this question sounds dumb

Is there a big advantage (in term of speed) in using mining pools vs solo mining?

I'm also wondering if I choose solo mining, does it need to be continuous for it to count? Say i mine for a few hours every day. Would I still eventually be rewarded?

Thanks in advance!!!

Comments

  • Dave2kDave2k Posts: 38
    hey,
    yes, you want to mine continuously. You wouldn't want to solo mine, if you don't have a very high hashrate.
    Im not too sure about the explanation, but I'll give it a try:
    You will not find a valid hash that makes up a complete block in a reasonable timeframe.
  • BUTUZBUTUZ Posts: 119 ✭✭
    Mine in a pool. You cant solo mine on your own you'd need a warehouse full of cards to make it worth while and given the terrible difficulty increases solo mining is for Chinese factorys only IMHO.
  • fosil100fosil100 Posts: 6
    Dave2k said:

    hey,
    yes, you want to mine continuously. You wouldn't want to solo mine, if you don't have a very high hashrate.
    Im not too sure about the explanation, but I'll give it a try:
    You will not find a valid hash that makes up a complete block in a reasonable timeframe.

    hey guys, thanks for the reply

    Would I have to be mining continuously even if i'm using a pool?

    Lastly is a there a guide to using a pool that you guys recommend?
  • MrN1ce9uyMrN1ce9uy Posts: 67
    You don't have to mine continuously with a pool. For instance, with nanopool it will keep your ETH in a temporary account even if you stop mining, then just start mining again until you reach the payout amount. It is attached to your wallet address. You can use multiple machines to mine toward the same wallet address, stopping and starting as you please.
  • iamnoobplzhelpiamnoobplzhelp Posts: 29
    Solo mining really just has to do with hash rate and luck. If you go to https://etherscan.io/ether-mining-calculator and enter in your hash rate it will tell you at the bottom how long on average it will take you to find a block. For example, if you have one card at 25mh/s, it will take on average 209 days to find a block. Could be shorter, could be longer, but on average that's how long it will take.

    Mining in a pool just makes your rewards more predictable.

    Also, setting up solo mining can be a pain. You have to setup GETH and then point your miners to it, and if that computer turns off for whatever reason and you don't have any backup servers, your miners aren't doing anything.

    I use ethermine.org. It's easy and it's never been down for me.

    The payout is marginally smaller. And if you had a big farm, then solo mining is definitely worth it. You would currently need a hash rate of 5200 mh/s to find 1 block per day on average. I would say if you could get up to 1000 mh/s, then that's probably a reasonable time to go solo. You'd get a block every 5 days or so.
Sign In or Register to comment.