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Solo mining... patience is a virtue? ...or... am I doing something wrong?
Ok…I followed all of your steps in your post from about 6 months ago where you showed how to set up the Feathercoin.conf file, and how to configure your batch file to start the miner. Everything appears to be working fine…I think.
I currently have two 1060’s in my PC that I am typing on, and I two more six-card rigs. The other two are made up of a mixture of 1070’s, 1070Ti’s, and 1080’s. I am telling you about the other machines, because I know that the first response I would get based off of this screenshot would be to pool mine if I’m only running two 1060’s.
When I was pool mining, I was averaging about 110 coins a day between all of these machines. Currently, I have had them all running for about 24 hours, and I haven’t found a block yet. I TOTALLY understand that I will have ups and downs solo mining, and I could go some time not finding anything, and other times where I find more than average. I get that. With that being said, I would’ve thought for sure that I would’ve gotten at least one by now. Browsing the block history of my mining pool, I would always find at least one block per day.
On another guide I read regarding solo mining, it said that you had to run your Feathercoin wallet with a command of -server at the end. Your guide did not say to do this. I can only assume that it is not necessary, since you didn’t mention it, but I just wanted to double check. I hate to leave these things running and just flushing all of my hashes down the toilet…
So…should I just be a little more patient, or am I doing something wrong?
Don’t know, timing sounds like something wrong. Let us know, suspense …
Your 1.4MH/s on that system represents 0.02% of the network hash (~6.8GH/s). That, along with varying difficulty and the “luck factor”, means you might, over a long enough period of time, equal what you’d get from a pool…
In the post, I stated that this screen shot was just from 2 1060’s I run in my desktop. I have 2 6 card rigs which pull about 7 mH/s a piece. I’ve already found 4 blocks since this post yesterday. Those are the same 4 blocks I would’ve found if I was mining in a pool, only I had to pay no fees. I know that solo mining won’t work forever, given the continued increase in difficulty, but for now, with the math I’ve calculated, I will get roughly 30% more coins than I would giving these hashes to a pool. When the time comes for me to use a pool again, I will gladly do it, but now is not that time! =o)
I will get roughly 30% more coins than I would giving these hashes to a pool
Just out of interest, how do you come to the conclusion that you earn 30% more than you get with pooled mining?
The normal pools fees are around 1-2% only.
I stated in another post the reason that I was planning on solo mining. On the give-me-coins web site, when I look at statistics, I show that I have solved 44 blocks, but I have only been paid out 1,200 coins. Ok, my math was a little off, but the point is still made.
Maybe I’m wrong, but to me, it seems as though pool mining is for the person who needs a steady payout, but is willing to sacrifice coins to get it. I, personally, have no plans to do anything with these coins for quite a long time, so I really couldn’t care less how often I get them, I just want to get as many as possible. On a long enough timeline, even if you were mining with one card, the payouts should still be even, or possibly still favor you if you solo mine.
The taste that has been left in my mouth about pools is that if you are bringing less than the average hashing power to the table in a pool, you will come out on top. If you bring the average amount of hashing power, you will come out even. If you bring more than average hashing power, than you get screwed. Maybe this isn’t the same experience that everyone else has had, but with the money that I spent on these mining rigs, looking at this screenshot makes my blood boil…
Re: Centralized pools payout figures : Well, we mainly have experience of p2pool, which is open source, decentralized and pays what it says.
On the give-me-coins web site, when I look at statistics, I show that I have solved 44 blocks, but I have only been paid out 1,200 coins. Ok, my math was a little off, but the point is still made.
Oh my. TMI warning:
“Blocks solved by you” doesn’t mean you get the entire 40 coin block reward when you’re in a pool; this simply means your rig happened to hit the hash that that solved those blocks. You are awarded your share of the work in hashing any given block, just as all the others in the pool are, based on their hashrates.
Some other user with the same hash rate as you may have “solved” more blocks, but got the same number of coins. See my example below (it was when block reward was 80 coins): 9*80 = 720 coins. I received 837.4 coins, but my rig didn’t hit as many “solutions”. Doesn’t matter. That’s the point of being in a pool.
Pools work through a share algorithm, the most common being PPLNS, or “pay per last N shares”, which I think give-me-coins uses.
Solo mining means your rig tries to solve every block before time’s up (1 minute), and submit it before someone else does, in order to get the most coins over time versus pool mining. Luck plays a larger part in solo mining, and is evened out over a much longer period of time/blocks, whereas pool mining evenly distributes the reward based on overall work done on each and every block.
I know… Thanks…