What is the difference between Solo and Pool mining?

[Crypto123 0]

Some people do not know the difference between these two types of mining

 

1- Solo Mining

It means that you can do it on your own using your own device. If you find a bitcoin block you get it on your own, which is equivalent to about 12BTC. If you don't get a full block, you won't get anything, no matter how long it takes for mining.

 

2-Pool mining:

Mass mining is where a large number of devices share a single Pool and they mining using the power of their devices combined. 

If they get a bitcoin block, this block is divided on everyone in different proportions depending on the strength of each device. This method is of course faster.

 

So mass mining is better because it has a much greater success rate in getting a Bitcoin block than Solo.

[I-KUN 422]

of course mining using pool is better. i think if i do solo mining, the chance for me to find the block is very low and it will spend very long time. i think share some hashrate will be a good choice for mining. 

[Crypto123 0]

23 minutes ago, I-KUN said:

of course mining using pool is better. i think if i do solo mining, the chance for me to find the block is very low and it will spend very long time. i think share some hashrate will be a good choice for mining. 

Of course, this is true because using solo mining, except that you need a very high specification computer and a download we would like it too, you can take your life before you get a single block because of the difficulty of mining unless it is a super computer.

[I-KUN 422]

1 minute ago, Crypto123 said:

Of course, this is true because using solo mining, except that you need a very high specification computer and a download we would like it too, you can take your life before you get a single block because of the difficulty of mining unless it is a super computer.

if we use our computer for mining, i'm sure it won't make any profit. even if we use a super computer in mining pool. we can't compete with some miner communities or maybe some big mining companies that uses a tons of ASIC miner hardware with a high hashrate.

[mema 1]

Solo mining and Pool mining. Solo mining means that you can do it on your own with the help of your own device while pool mining means mining with other people and with a lot of gadgets.

[redamoun 811]

On 11/25/2019 at 8:30 AM, Crypto123 said:

Some people do not know the difference between these two types of mining

 

1- Solo Mining

It means that you can do it on your own using your own device. If you find a bitcoin block you get it on your own, which is equivalent to about 12BTC. If you don't get a full block, you won't get anything, no matter how long it takes for mining.

 

2-Pool mining:

Mass mining is where a large number of devices share a single Pool and they mining using the power of their devices combined. 

If they get a bitcoin block, this block is divided on everyone in different proportions depending on the strength of each device. This method is of course faster.

 

So mass mining is better because it has a much greater success rate in getting a Bitcoin block than Solo.

Thank you a lot brother, and for sure today no one can mine with SOLO Mining in BTC, because of the difficulty become very high and you need a very strong devices, so i will add that for me i prefer to mine Altcoin, and then converted to Bitcoin.

[Cryptominded 704]

With solo mining, one may never get to mine any block, because of increased difficulty and other miners using more sophisticated mining equipment, but whenever they do, the reward is usually well worth it. With pool mining however, the likelihood to mine some blocks is high, but at the end of the day, the reward is shared among all participating miners.

[Crypto123 0]

2 hours ago, redamoun said:

Thank you a lot brother, and for sure today no one can mine with SOLO Mining in BTC, because of the difficulty become very high and you need a very strong devices, so i will add that for me i prefer to mine Altcoin, and then converted to Bitcoin.

Yes, this is a very good note, for those who do mining and do not have strong mining devices, it is better for them to mining coins that are rather easy for bitcoin and then convert it to bitcoin, and this is much better. Thanks for this important addition.

[Lubruselu 2803]

On 12/7/2019 at 9:49 PM, redamoun said:

Thank you a lot brother, and for sure today no one can mine with SOLO Mining in BTC, because of the difficulty become very high and you need a very strong devices, so i will add that for me i prefer to mine Altcoin, and then converted to Bitcoin.

No matter about solo mining or pool mining which is profitable, what's I know is that cryptocurrency mining is only need low cost of electricity in order to get profit

[febriyana 934]

Now to solo mining is really difficult than pool mining. Because you need big resource mining machine to win competition with pool. If you have for example 1 TH/s but the pool have 17 TH/s, your chance to get reward Bitcoin is very little, maybe you don't get anything.

Because basicly mining like lottery. But with joining pool if that group get the reward, they will divided based how much your mining power. That is more fair, save time, also efficient.

[Akbor 1042]

Both mining are good to me and profitable but I like pool mining . this type of mining is easier than solo mining and much profitable than pool mining.

[Crypto123 0]

On 12/11/2019 at 4:23 PM, Akbor said:

Both mining are good to me and profitable but I like pool mining . this type of mining is easier than solo mining and much profitable than pool mining.

Yes, mining can be done in both ways, but solo mining is currently not profitable because you need a long time to be able to find one block on your own and you may never be able to find it.

 

[geezer 7581]

Solo mining is ok if you mine some new coin with low difficulty. As an example 2miners have a service to provide everything for solo mining (i.e. node etc)

[scorpiali 5626]

That's right your diffenition is good and help us to know exactly what is the difference between solo mine and mine with pools i have try mine with pools but not for a long time because i don't have a equal device to mine with it in my computer it's not good and not enough

[Whydoyoucare 1094]

Thank to this opinion, well said and very knowledgeable. i hope the forum can teach more and share more knowledge in the future, looking forward to it. goodjob people.

[Zentoly 419]

Thanks for sharing about the difference between solo mining and pool mining and your detail will give more help for the users of mining.

[philosophy 181]

I don't really understand what solo-mining is for. If only to try the software, to test it, to practice it. I don't see any other way out in our reality

[Crypto123 0]

2 minutes ago, philosophy said:

I don't really understand what solo-mining is for. If only to try the software, to test it, to practice it. I don't see any other way out in our reality

solo mining is that you only mining on your own with your device only and without the participation of others. If you find a bitcoin block it will be yours alone. But the problem with this method is that it may take a very long time.

[Crypto123 0]

18 hours ago, Zervanix said:

I think for bitcoin mining with the solo mining method is very difficult even more impossible, because the total hashrate is very high and if only using 1 ASIC device especially GPUs need a very high level of luck because the success rate is below 0.01%

This is for sure, even if the ASIC Miner will not be able to find Bitcoin blocks until after a very long period, and during this time it may be get malfunction or problems. This was in the past when bitcoin mining was still easy.

[Crypto123 0]

Just now, Pinky55 said:

Solo mining that you can use your device.pool Ming is where a large number of devices shares a single pool.and also many peoples are there in pool mining.solo mining much profitable than pool mining

Not only is the difference in whether mining is single or collective, but more importantly, solo mining is very slow and can last for several years. As for pool mining, it is fast but its rewards are lower.

[Lubruselu 2803]

54 minutes ago, Digicoin said:

Do you mean that mining requires only low cost of electricity? Can you tell us more about this, so, we can learn?

When I say that's mining need low cost of electricity, I mean that's you ate required to discover your another source of energy which doesn't cost anything such as biogas energy

[Pratzz 23]

On 11/25/2019 at 1:00 PM, Crypto123 said:

Some people do not know the difference between these two types of mining

 

1- Solo Mining

It means that you can do it on your own using your own device. If you find a bitcoin block you get it on your own, which is equivalent to about 12BTC. If you don't get a full block, you won't get anything, no matter how long it takes for mining.

 

2-Pool mining:

Mass mining is where a large number of devices share a single Pool and they mining using the power of their devices combined. 

If they get a bitcoin block, this block is divided on everyone in different proportions depending on the strength of each device. This method is of course faster.

 

So mass mining is better because it has a much greater success rate in getting a Bitcoin block than Solo.

 

[Crypto123 0]

15 hours ago, Gp4real said:

The difference between solo mining and Pool mining is that solo mining means that you can mine on your own with the help of your own device ,while pool mining means mining with other people and with a lot of gadgets.

Yes, that's right, and there is another difference, which is single mining. When you get a higher reward you take it alone, while mining a basin, the reward is distributed according to the strength of each device.

[Ogundare oluwaseun 51]

Thanks for the eye opener information am just hearing solo mining for the first time now I know that there is solo mining and pool mining.thanks

[Crypto123 0]

Just now, Crypto777 said:

In solo mining, you'd be mining for the block rewards alone. In pool mining, you'd be mining for the block rewards together with other people. ... In solo mining, you'd be mining for the block rewards alone. In pool mining, you'd be mining for the block rewards together with other people.

Yes, your understanding of the topic is completely correct, and this is it, but I would like to draw your attention to the fact that you have repeated the sentence twice. You may not be aware of this, and it is best to pay attention in the upcoming times because supervisors are strictly monitoring and they may consider this a violation.