A little confused? Solo mining...

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ryguy
Posts: 22
Joined: Sun Apr 01, 2018 10:20 am

Re: A little confused? Solo mining...

Postby ryguy » Wed May 16, 2018 12:25 pm

markdil wrote:I guess it comes down to math. At the speed I am running, I should get a block in every 4+ hours.


That's not exactly accurate. Based on what I've seen, at your speed you have about a 65% chance of getting a block after about 5 hours. The chance is only 100% after ~24 hours.
markdil
Posts: 15
Joined: Wed May 16, 2018 9:48 am

Re: A little confused? Solo mining...

Postby markdil » Wed May 16, 2018 12:40 pm

ryguy
Posts: 22
Joined: Sun Apr 01, 2018 10:20 am

Re: A little confused? Solo mining...

Postby ryguy » Wed May 16, 2018 12:56 pm

Yes. Look at the probability of finding a block chart. You have a higher chance of finding a block the longer you run, but don't hit 100% until about 24 hours out.

You can't take the expected value of something as a guaranteed value. As an example, the expected value of rolling a six-sided die is 3.5 but you can roll a 1. Your rolls will tend towards 3.5 on average but only after an infinite number of rolls.

The same concept applies to finding blocks. You should trend towards 5 hours but only after running continuously for a while. If you pop in and out, you won't have the expected value be useful.
markdil
Posts: 15
Joined: Wed May 16, 2018 9:48 am

Re: A little confused? Solo mining...

Postby markdil » Wed May 16, 2018 1:06 pm

I run once a week for 8-10 hours (sometimes more). I do understand stopping and starting is not the best way to do it, but based on my “rig”, that is the only way I can do it.

Oh well, guess I need more hashing power. I thought I had it figured out.

What I do is this. I bought a ton of AntMiners on eBay cheap. The ones that use more electricity than what the produce. So, I run all these AntMiners and sell the hashing power. My electricity is free because I have a natural gas well on my property and a huge natural gas generator. So, I run them for a week, 24 hours a day, build up what I sold, then buy it back and hammer at that LiteCoin block which has eluded me thus far. Guess I will wait two weeks and that should give me 24 hours of hashing power at 2.5TH/s.
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CSZiggy
Posts: 253
Joined: Wed Jan 31, 2018 2:44 pm

Re: A little confused? Solo mining...

Postby CSZiggy » Wed May 16, 2018 1:46 pm

markdil wrote:2.5 TH/s


WOW, that is very nice. You said you bought old miners that were costing more than electricity?
Can you maybe explain your setup a bit more. I get the gas generator for the electric part, what units do you own?
What do they mine? Where do they mine?

Maybe I'm missing something but it sounds like you got a mess of D3s, run them for a week, save up the payments to then rent scrypt hashing to try and mine LTC on this pool? Are you using Nicehash to rent scrypt power for use on this pool? Last few days, D3 miners were making MORE than L3+ scrypt miners.

You might want to look, the profit you made from selling the hashpower the first time might end up being higher payout then if you then used it to mine for yourself. Also....Why not just sell that hash power to prohashing pool directly and take LTC as your payout choice. Then you dont have to save up, you just get a constant LTC payout the whole time you are mining.

I don't think you will get a higher payout going solo. With the increases in difficulty you might be chasing a finish line that keeps moving further away. I think it might be better to take daily payments so you get to mine under a lower difficulty.
markdil
Posts: 15
Joined: Wed May 16, 2018 9:48 am

Re: A little confused? Solo mining...

Postby markdil » Wed May 16, 2018 2:17 pm

D3’s, S7’s and a few others. I have 30 running. Plus 4 computers with powerful GPU’s. The computers pool mine.

I can’t generate 2.5 TH/s myself, so I sell what I have to NiceHash. Sometime, I may just pool mine with them and build up those funds also. Build up my wallet, then buy huge hashing power when rates are low. It takes about a week to give me a good chunk of runtime at 2.5 TH/s. I may have to wait two weeks and get that number to 5 TH/s.

I know what your saying about being better off not doing what I am doing, but I respectfully disagree. There is always the right combination that will make this work. Once I figure out LiteCoin, it’s off to the big times, BitCoin.

I studied probability and statistics in college, so I do understand my chances. By the end of this month, I will have a LiteCoin block. You can take that to the crypto-bank.
rickuht
Posts: 6
Joined: Tue Feb 20, 2018 3:51 pm

Re: A little confused? Solo mining...

Postby rickuht » Wed May 16, 2018 2:41 pm

I don't know that it really makes any difference, but whenever I've pointed miners to a coin solo I've never included the "a=scrypt" argument. If you're mining Litecoin, the system already knows it's scrypt. My setup back in the day when I was tinkering with a MoonLander2 was "c=Marscoin m=solo n=ml2_14" but than again I was never pointed towards a coin that was merge mined...
spauk
Posts: 129
Joined: Wed Apr 27, 2016 7:33 pm

Re: A little confused? Solo mining...

Postby spauk » Wed May 16, 2018 2:47 pm

Merged mining rewards from solo mining are still on PPS mode, so you solo mine the primary coin and the merged mine coin is mined by the pool and you get payout in the coin you're solo mining for your shares. I don't know if it's possible or profitable to solo mine AuxPoW coins, since like you say they have a high difficulty. Luck in a pool is different from solo luck, even though you're doing both solo and pool mining if you solo mine a coin with merged mining on prohashing.
markdil
Posts: 15
Joined: Wed May 16, 2018 9:48 am

Re: A little confused? Solo mining...

Postby markdil » Wed May 16, 2018 2:58 pm

I ran tests, mining at 2.5 TH/s for ten minutes. I averaged SEVEN merged mined blocks in that time frame. None of them paid anything to get excited about. But that is not the point. That is almost a block a minute.

One of the problems I run into is the arbitrary way Prohashing changes the difficulty. When I am really loading up the miners (5,000-8,000), you can’t predict what the system will do. The results are never the same. I run it on a few other pools mining solo and it does not do the same thing.

I am convinced there is a way to make the numbers work. I am starting with LiteCoin to prepaid myself for BitCoin.

Call it a game, business, whatever. I call it fun!
ryguy
Posts: 22
Joined: Sun Apr 01, 2018 10:20 am

Re: A little confused? Solo mining...

Postby ryguy » Wed May 16, 2018 3:51 pm

markdil wrote:What I do is this. I bought a ton of AntMiners on eBay cheap. The ones that use more electricity than what the produce. So, I run all these AntMiners and sell the hashing power. My electricity is free because I have a natural gas well on my property and a huge natural gas generator. So, I run them for a week, 24 hours a day, build up what I sold, then buy it back and hammer at that LiteCoin block which has eluded me thus far. Guess I will wait two weeks and that should give me 24 hours of hashing power at 2.5TH/s.


If you have free electricity why are you trying to mine any coin solo? You can sell your hashing power and everything you get paid is profit. Seems like a big gamble to take your easy profits and attempt to turn them into a block.

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