Solo Mining vs Pool Mining


#121

Wow awesome nice going, got the payout thanks very much!


#122

You’re welcome! I feel like you just earned in one day what you would normally make with that L3+ in one month :money_with_wings: Pay it forward!

Still, I don’t recommend solo mining. This is still all very experimental. Also, I can’t guarantee that if other miners connect to our pool they will be rewarded, the PPLNS payment mechanism on this pool software is strange.


#123

We’re running an experiment now where we’re putting litecoinpool.org head to head with this solo mining setup to see which comes out more profitable. We’re trying to control for as much as possible while at the same time accepting that we don’t have unlimited funding. The setup is as follows:

Hypothesis: We will earn more reward solo mining (as compared to mining on litecoinpool.org)

Experimental Setup: We have a 200 Ghs working at litecoinpool.org and another 200 Ghs working solo. Over the next few weeks, we will compare the rewards earned from both setups.

Funding: We’re really hoping that the solo mining setup will earn enough to keep it sustainable for at least a month (ideally it will be perpetually sustained) while we collect numbers. I am pumping in an initial 25 LTC (plus I have a colleague that put up 12.5 LTC) so we can get the hash power needed for this experiment from Nicehash. Anyone who is willing to help us fund the experiment, please get in touch!

Special thanks to Exoblock for helping out with funding here.


#124

Yes earnings maybe even more than a month, will help out with the experiment as best i can, just great to be part of it.


#125

Hello, I am also interested in solo mining. Is there somewhere any step by step guide how to set up solo mining on L3? Thanks


#126

I don’t recommend solo mining.


#127

Why not? difficulty and low hashrate of L3?


#128

This ended up being a failure…


#129

Yes. You will regret it… learn from my experience and don’t solo mine.


#130

This wasn’t a total failure, we did find blocks it’s just that I don’t have the funding to sustain this and every time I’m not lucky I get crushed since I’m getting a good amount of hash from rental.

Just wanted to give a shoot out to the colleague from Exoblock that has been helping with this experiment (at times providing nearly 1 THs of power to support experiments). They’ve got 100kw of capacity left if anyone is looking for colocation, hit them up [email protected]. None of this research would have been possible without them.


#131

This is a pity but I’m sure you’ve learnt plenty from this and others can read about your experiment


#132

Yes, I’m working on setting this up to try Verge which has a shorter estimated time per block. Same experimental setup, different coin. The Verge blockchain just takes days to download… it’s no Litecoin, thats for sure.


#133

After doing some research into Verge, I decided that coin is a joke…

  • forked from Dogecoin (seriously…)
  • the creator seems sketchy AF
  • the development team seems to be clueless about all things privacy/security (recently hacked)
  • not interested in associating/support a currency that seeks to partner with pornography sites

Started to experiment with Gamecredits instead, still no Litecoin… but at least I can mine a block in a reasonable amount of time given my budget.


#134

Please i need real wallet for litecoin


#135

https://litecoin.org/


#136

Thanks so much! God bless you