What is the difference between Solo and Pool mining?

[Crypto123 0]

1 hour ago, Cryptominer said:

for me I prefer Solo mining,I think its 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.

Really strange, what kind of machine do you have, solo mining needs a very powerful device in order to be able to mining bitcoin, the difficulty of mining for bitcoin has reached very high numbers.

[Crypto123 0]

5 minutes ago, TimCoinBit said:

Solo mining is the type of old mining method in a way that you will mine alone as Satoshi did with his computer. But, with time, miners join together to form a mining farm called mining pool in a way that strong miners also invite many other miners to join them to mine together. It is the new age mining method.

Yes that's right, solo mining was possible when bitcoin mining was easy and it only needs more than an ordinary laptop to mining bitcoin block quite easily, but over time this became almost impossible and needed pool mining .

[Manpreet1991 2]

With solo mining you are competing against everyone else on the planet in the race to solve the block.

This means that your individual odds of winning are very low.

When you are part of a pool, on average your pool of people solves X percent of the blocks. That means everyone in your pool split the reward 

[Crypto123 0]

On 12/19/2019 at 8:59 AM, Manpreet1991 said:

With solo mining you are competing against everyone else on the planet in the race to solve the block.

This means that your individual odds of winning are very low.

When you are part of a pool, on average your pool of people solves X percent of the blocks. That means everyone in your pool split the reward 

Yes, no one knows when a block can be solved on solo mining, but with a mining pool there is a bitcoin block that is created every 10 minutes, so you should ensure that you get your bonus depending on the power of your device. As for solo mining, nothing is guaranteed.

[vivek jain 308]

this article addressing the pros and cons of solo and pooled mining can often answer questions easier than simply asking.the differences between pooled mining and solo mining. The Topic has given pros and cons of each to aid in the decision of a mining approach.

[NordisLofer 77]

It’s good that there are users who are ready to share their own knowledge for free! Thanks. My opinion is that mining using a pool is much more promising.

[Crypto123 0]

On 12/21/2019 at 10:26 AM, Angel Medina said:

I have read several of your answers, all right with different words, but coming to the same conclusion, clarified their concepts I think it is convenient to provide the advantages and disadvantages of entering the mining pools. Each of the mining pools has its own characteristics, which leads to its own advantages and disadvantages. Some advantages of entering one are: lower mining costs, due to economies of scale, smoother distribution of income and potentially higher income is generated. Then the disadvantages of entering a mining pool would be: the rewards of the block must be shared among all taxpayers, the mining pools may suffer interruptions and the pool's reward structure may be unfavorable or change over time. That said, everyone can decide where to enter if they decide to dedicate themselves to mining.

Thank you for pointing to this important point, although my topic talks about the difference between two different types of mining , but this point that you have explained about how income or rewards are distributed is admirable. Thank you.

[Crypto123 0]

On 1/4/2020 at 4:43 AM, Zahra001 said:

Mining solo is while you mine on my own at the same time as mining pool is a mining farm in which many people come together with their powerful mining hardware to mine. to join mining pool is highly encouraged.

Yes, mining ponds is much more encouraged to mining than solo mining because you get your rewards immediately unlike the other type that you have to wait a long period of time until you get the reward.

[Suhannewaz 245]

You will mine for the block rewards alone with solo mining. In pool mining, together with other men you can optimize the block rewards. You would be mining alone for the block rewards in solo mining. In pool mining, together with other people, you would mining for the block rewards.

[Akasshh 234]

In solo mining you'd be mining for the block of rewards alone, in pool mining you'd mining for the block  rewards  together with other people. slush pool is the first bitcoin pool launched in the year 2010 by the name bitcoin pooled mining server.Ant pool is the largest  bitcoin pool on terms of its hash power based in china.

[Zonayed 19]

Which pool has the highest success rate? For beginners which pool is best for mining. Is buying mining hardware worth it? 

[Crypto123 0]

19 minutes ago, Zonayed said:

Which pool has the highest success rate? For beginners which pool is best for mining. Is buying mining hardware worth it? 

Of course, pool mining is the best and most profitable of solo mining. It is suitable for all beginners and professionals. As for your question, is mining worth, the answer at the present time is not much, but with the rise in currency rates it will become very good.

[Lunaa 238]

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.

[Suhannewaz 245]

You could mine for the block of rewards alone in solo mining. In pool mining, you will work with other people on the block of rewards. You would be mining alone for the block rewards in solo mining. In pool mining, together with other people you would be competing for the block rewards.

[Crypto123 0]

13 minutes ago, leslomic said:

Thank you for indicating to this vital factor, despite the truth that my factor talks approximately the distinction among two numerous types of mining , but this point that you simply have clarified approximately how salary or rewards are conveyed is honorable. Thank you.

Thank you. I have tried as much as possible to simplify the topic and make it easy for everyone to understand so that everyone here in the forum can benefit. I try to stay away from complicated technical matters because it may be difficult for some.

[Man 741]

I think most people here if they do mining, of course they do mining alone or solo. it is very difficult to do mining in groups.

[Crypto123 0]

3 hours ago, Hamden said:

Welcome with me
You can work on Pool mining by subscribing to reliable cloud mining sites, paying subscription costs and going to sleep and profits despite their smallness, but they come without fear

You do not necessarily have to subscribe to cloud mining sites. Rather, you can mining through a graphics card or Asic Miner, where you can purchase this equipment, then download a suitable mining program and subscribe to a mining pool to start mining and profit-taking.

[scorpiali 5626]

11 hours ago, Man said:

I think most people here if they do mining, of course they do mining alone or solo. it is very difficult to do mining in groups.

Mining in general it's very difecult ti earn from it in solo or in group , if cours mine in groupe they help because all use his hash to mine and distribute earning but Solo it's really hard and i don't think any one can do it

[Mahadi hassen 50]

To me both mines are good and profitable for me but I like to dig the pool. That's why I use Bitcoin. Because basically digging like a lottery. General Chat Chat LoungBut if that group gets a reward, then depending on how much they will share your excavation with joining the pool, it will be more efficient, more time-consuming

[McCree 713]

57 minutes ago, Sarakhan said:

Yes I agreed 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.

But solo mining has a chance for you to find the entire block - albeit a very small chance - and keep the huge reward. Unlike slots, it isn't going to drain your pocket paying to look for a jackpot because you only have to buy a weak miner once.

[Crypto123 0]

On 1/28/2020 at 6:22 PM, Kschitez Raj said:

It completely depends on the "pool fee". Theoretically, with a zero percent pool fee, solo mining and pooled mining should, over the long term, produce precisely the same revenue. The only exception is that some pools keep the transaction fees for themselves.

If you mine solo, with an expected 5 BTC/day take, that will mean on average you'll mine a 50 BTC block every ten days. It will be completely random though

You mean that it depends on the rewards and not on the fees, mining depends on the rewards that are distributed after discovering the blocks, while the network transfers are based on the fees. On the other hand, you cannot currently mine a block within 10 days on mine solo, as you say, this was in the beginning of Bitcoin, the days of Satoshi when he made mining on his own, but it is impossible at the moment.

[Sabba092 115]

On 11/25/2019 at 12:30 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.

Hun solo is a single mining and the pool mining is bunch of miners with the other people's.

[Sehr 288]

Mining solo is while you mine individually simultaneously as mining pool is a mining ranch in which numerous individuals meet up with their amazing mining equipment to mine. to join mining pool is profoundly empowered. 

I accept along these lines way is acceptable

[Crypto123 0]

10 hours ago, itsan said:

Mining in not unusual it's fantastically difecult ti win from it in solo or in acquire , in case cours mine in groupe they offer help since all make use of his hash to mine and disperse gaining but Solo it's clearly hard and i do not think any person can do it

At the moment I think no one can do the mining of solo because he needs a super device, in the past it was very easy but now it has become very difficult. But with the invention of quantum computers, it can be made available again.

[Ricardo Walker 196]

thank you so much for explaining this difference because I have been searching about it for a long time but I didn't know about this difference