Mining for the Little Guy

user8472user8472 Member Posts: 7
I'm probably missing some obvious things with these questions, but I'm trying to simplify my understanding of Ethereum mining.

As a little fish, I would like to mine, but I would like to reduce my variance (or actually have a chance of mining blocks) by being in a pool. I understand that there are problems with large pools, but I wonder if I can even mine a single block by myself.

1. Will there be mining pools at all?

2. If mining pools are disincentivized, does that discourage small potential miners from participating?

3. Can mining pool contracts reduce some of the problems associated with mining pools, or would that be effectively the same as a traditional mining pool?

4. Profitability aside, how small could someone be and still mine blocks?

5. Is there a Ethereum mining, practical applications, FAQ page?

Comments

  • user8472user8472 Member Posts: 7
    Thank you, Vitalik.
  • tglaunertglauner New YorkMember Posts: 4
    One follow up question. When Ethereum goes live is it recommended to use the Ethereum applications on github to mine or will be there an advantage to people who mine with proprietary software?
  • PoseidonPoseidon OLYMPMember Posts: 5
    edited January 2015
    tglauner said:

    One follow up question. When Ethereum goes live is it recommended to use the Ethereum applications on github to mine or will be there an advantage to people who mine with proprietary software?

    Mining 'real' Ether will not start until the main net goes live. ETA is Feb/March 2015. News from FAQ
  • pedrocsc21pedrocsc21 Member Posts: 5
    Are we able to mine real ether yet? Does anyone have an update as to when this is possible?
  • Wil611Wil611 Member Posts: 77 ✭✭
    edited June 2015
    currently you will receive 1/2 ether for each block mined during the Olympic release as a reward for helping to stress test the network. This may end at any time. The ether will be distributed when the genesis block launches for Frontier.
  • pedrocsc21pedrocsc21 Member Posts: 5
    do you know when the genesis block launches for Frontier? anyone?
  • mikmik Member Posts: 57 ✭✭
    edited June 2015

    do you know when the genesis block launches for Frontier? anyone?

    Watch https://github.com/ethereum/go-ethereum/milestones ! If 'open' reaches ZERO for Frontier, it will be launched.
  • quantumgravityquantumgravity Member Posts: 13
    mik said:

    do you know when the genesis block launches for Frontier? anyone?

    Watch https://github.com/ethereum/go-ethereum/milestones ! If 'open' reaches ZERO for Frontier, it will be launched.
    With two weeks notice, correct?
  • mikmik Member Posts: 57 ✭✭
    edited June 2015
    No, 2 days as I remember!
    It was 2 weeks.
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