Solo mining or mining in a pool
Which is better solo mining or mining in a pool ? There is no definite answer to this question. Since the profit from mining is influenced by many factors.
Differences between solo mining and mining in a pool
Solo mining is the so-called work alone. On your own equipment. Accordingly, all financial profit goes only to you. And also commissions from transfers. You need to know that without the nonce value, you will not close the block. If another miner finds the value, he will receive the reward. Therefore, in some cases, the miner should still join the pool. Since everyone gets the task to find the nonce value there. For each depending on the power. The reward is divided among all miners depending on the power.
Disadvantages of solo mining
At the moment, solo mining only allows new cryptocurrencies. Or cryptocurrencies with low capitalization, because the complexity of their network has not reached too high values. There is absolutely no chance of finding a block yourself with bitcoin or ether.
In order to find blocks every day, you need a fairly large hashrate. For this reason, users who do not have a large hashrate join pools. Thus, the mining of cryptocurrencies occurs through joint efforts and the probability of success increases.
Pool for miners
Almost all modern pools were created at the beginning of the cryptocurrency growth. When bitcoin mining could have been conducted from a regular personal compute. The power and popularity of the network grew. In order to work more efficiently and find the block quickly, it was necessary to unite. Users with a large hashrate often became initiators of the association. According to their capabilities, they could conduct solo mining. However, they understood that a lot of computers were needed to find the block. Accordingly, the resources that will be allocated for the search will be wasted.
Mining on video cards and processors in the same situation. Now even those users who have an impressive number of video cards are mining in the pool. Of course, many of them are engaged in solo mining. But due to the increase in network capacity, they have to constantly update or buy additional equipment.
For new users who do not have a very large budget, it is recommended to join the pool. It also makes no sense to try to mine using a regular desktop computer or, especially, a laptop, even in the pool. In the best case, you will pay for electricity. But at the same time, it is possible to try to mine less well-known cryptocurrencies Bytecoin or DigitalNote.
