A little confused? Solo mining...

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markdil
Posts: 15
Joined: Wed May 16, 2018 9:48 am

Re: A little confused? Solo mining...

Postby markdil » Wed May 16, 2018 4:29 pm

You are absolutely correct, there are easy profits I am throwing to the wind. But the thing is, those profits will not make a big difference in my life.

If there is a way, to “hammer” away and force a block, that would be gold. I am starting to experiment with LiteCoin where the difficulty is low. If I do find something, I will take that same “formula” and move on to BitCoin.

Two or three BitCoin blocks WILL make a difference in my life.
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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 4:59 pm

markdil wrote:You are absolutely correct, there are easy profits I am throwing to the wind. But the thing is, those profits will not make a big difference in my life.


if you look back at your calculation...Image

If you were pool mining during those 24 hours you would generate 121 litecoins with your hashrate.
And running that hash for 24 hours pays $16,000 USD at the current prices. If you can do that 1 time per month thats 16K a month.
You could keep those 121 litecoins, and see if they hit $500 or $1000 later in the year.

OR you can hope that during those 24 hours you hit a block solo and get 25 of them.
You need to hit a block every 5 hours, each and every 5 hours to be equal with where you would be just taking the pool output.

But again, I still think you make more just pointing all the miners to this pool and just taking LTC as a payment, than selling the hash for a loss and then buying and losing money on the deal a 2nd time around. Each time you buy or sell the hash someone's taking a pinch out for themselves, less pinches for them is more for you.

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