Solo Mining vs Pool mining

SmooveSmoove Member Posts: 6
I am getting about 180 Mh/s should I be solo mining or pool mining? if so which pool is the best for this rate?

Comments

  • samsam San FranciscoMember Posts: 9
    It depends. Can you manage a geth node and keep it running? If so, solo mining should yield higher rewards.
  • cduchesnecduchesne Member Posts: 3
    I am solo mining and find it a bit exciting to see blocks come through every 3-5 days. I actually mined 2 blocks on Sunday (1 was an uncle though). My hashrate is ~45 Mh/sec.

    What sam said is accurate... I do have to maintain my own geth server, which isn't too hard, although waiting between payouts makes me question if everything is working right. At 4x my hashrate, you should be getting a block every day or so though!
  • rush9119rush9119 Member Posts: 3
    Is it better for a complete noob to settle on pool mining?
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    @rush9119 Solo mining has the highest returns, it's just a head game waiting for the first block to come in and confirm your setup
  • suryawonosuryawono Member Posts: 63
    I have no luck with solo mining, i switch back to pool mining
  • descartedescarte Member Posts: 25
    u have to prepare to pay for the price with solo. it is very demoralising when u spend days and u dont get anything.
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    And then it's just as demoralizing when when Dwarf pool glitches and take 99% and leave you the 1% fee.
  • philakonephilakone Member Posts: 163 ✭✭
    edited March 2016
    Here's my two cents my friend.

    Solo mining has the benefit of higher payout. That's a fact. There is also less modes of failure since there is no middle man (pool) that may have downtime. The downtime is HORRENDOUS to some people. Think of working as a car salesman or a real estate agent where they may go for long periods of no sales. It's devastating. You either give up, or you just tough it out and keep waiting. You'll eventually get a block and it feels GREAT.

    The general rule of thumb I've gathered is if you're running only single gpu, hashing up to 30 Mh/s, stick to pool mining. The stretch of finding a block is too long,. you'd only find 3-4 a week and it's very luck based too.

    Pool mining gives you the benefit of being consistently paid. For example, nanopool pays out 4 times daily. The reason pool mining pays out less is usually because of fees and downtime of any sort such as staying connecting to their server, etc.

    For example, if you're hashing at 50 Mh/s, you'll be almost guaranteed to find 1 eth / day, so the stretch isn't bad at all.

    The difference between pool and solo won't be HUGE like 1.5x/2x/3x etc... it's marginal and this is a debate about your personal preference and if you prefer one lump sum or small deposits that equal almost the same amount in about the same amount of time as well.

    There's also factors like are the people running the pool honest? Are payouts done properly? Who knows...
    I'm just doing this as a hobby and pool mine at nanopool. Pretty happy there.

    Correct me if I'm wrong. I'm still learning!
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    The more frequent income also helps smooth out any volitility in difficulty over the period it would otherwise take to mine solo with small hash. Some pools use a 'most shares' payout of the whole block which I find to bias against small hash compared to a payout based on the % of shares owned when the pool gets a block.
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