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Your questions about cryptocurrency answered

Cant understand how share difficulty affects my chances in solo mining with a pool

Cant understand how share difficulty affects my chances in solo mining with a pool

Is it more profitable to mine in a pool or solo?

While solo mining can generate huge rewards, it doesn’t offer the same reliable income as mining pools do. Since pool members combine their computing power and increase the chances of finding a block, the regularity with which you receive a payout will most likely be higher than if you were mining alone.

Does pool affect Hashrate?

The size of a pool, its total hashrate and the distribution of hashrate between bigger and smaller miners, have no effect on the rewards you, mining with a specific hashrate, will obtain on average.

Is Solo mining based on luck?

As seen in the above example, mining solo on a very competitive blockchain like Bitcoin is very luck-based. That is why pools emerged soon after the Bitcoin launch.

Does number of shares matter in mining?

Share Difficulty and Mining Difficulty
Share difficulty doesn’t affect the number of blocks found by a pool. Share difficulty doesn’t affect miner rewards.

What is the most profitable mining pool?

List of the Best Bitcoin Mining Pools:

  • #1) Binance.
  • #2) Slush Pool.
  • #3) F2pool.
  • #4) Pool BTC.
  • #5) ECOS.
  • #6) Via BTC.
  • #7) Antpool.
  • #8) Poolin.

What is share difficulty in mining?

Based on your hashrate, Mining Pools set how hard it is to submit a share to them. The higher the hashrate, the higher the Share Difficulty. When miners are grinding through hashes, they will eventually find a hash that meets the target Share Difficulty, then they send it to their Mining Pool.

How do shares work in solo mining?

A share is merely an accounting method to keep the miners honest and fairly divide any rewards earned by the pool. There is no need to keep track of shares in solo mining because you will not split the reward and can’t cheat yourself. Usually pools use a difficulty of 1 as the target for a share.

What are the odds of solo mining bitcoin?

Over the course of the Bitcoin blockchain’s existence, 264 blocks or 0.037% of the 721,240 blocks were solved by CK’s solo Bitcoin miners. While the odds are clearly against the soloists, they continue to surprise and delight Bitcoiners.

What are the odds of solo mining Ethereum?

Mathematically, Ethereum averages around 6500 blocks per day, so your odds would be about 6% per day of finding a block, with an 86% chance of hitting a block in about a month. With a single RTX 3080, your odds of hitting a single block in a year are only 20%, and 49% after three years.

How are mining pool shares calculated?

Pool luck is defined as the expected number of shares to find a block divided by the actual number of shares it took for the pool to find a block. This expected number of shares is based on the network difficulty, where higher difficulty means that the expected amount of shares required will also be higher.

How do mining pool shares work?

In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block.

What determines mining difficulty?

Mining difficulty adjustments are made by comparing the standard time it should take to find 2,016 blocks of transactions on the Bitcoin network to the time it took to find the last 2,016 blocks. Keep in mind that the accepted block time is 10 minutes.

Is Pool mining profitable?

Yes, you can. However, joining a pool is a much more profitable way to mine Bitcoin, especially since its difficulty increases with every coin awarded. To be competitive, it’s best to join a pool unless you have the resources to create your own or buy multiple state-of-the-art ASIC miners.

What is Pool difficulty?

Pool difficulty is just a way for pools to keep track of how much work each miner is doing.

What does maximum difficulty of found share mean?

It means the highest share your rig submitted to the pool you are mining to was 24.7 TH. In order to find a block it needs to submit at share equal to or higher than the difficulty of ETH, which is around 3 PH. 4.

How much Hashrate do you need to solo mine Ethereum?

Answer: It takes around 7.5 days to mine Ethereum as of September 13, 2021, at the hash rate or hashing power of 500 mh/s with an NVIDIA GTX 3090 that hashes at around 500MH/s. With a GPU that hashes at around 28.2 MH/S, it should take much longer. The profit returned is not equal to the amount of Ethereum.

How can I increase my luck mining?

There are two ways to increase your mining luck – craft pickaxes with the mining luck Perk, or by eating food that increases your mining luck for a period of time.

Is Ethereum solo mining profitable?

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What is on pool Hashrate?

Hashrate is the amount of hashes computed per second by your mining hardware. You can observe the hashrate of your mining devices in your Slush Pool dashboard. There is a difference between a nominal hashrate shown in the manual of your mining device and an effective hashrate shown on your Slush Pool dashboard.

What is pool Hashrate efficiency?

Pool rejecting your shares: If you are mining for few minutes and you see hashrate, but your efficiency is 0%, it means pool is rejecting all of your shares. The reason could be incorrect authorization, overclocking, poor latency, or something else. You can find the possible reasons in the mining client’s output.

Is it better to mine in a smaller pool?

Larger pools have a higher probability of creating blocks due to their larger computing power, while smaller ones generally take longer. A mining pool’s size can also reflect its trustworthiness to some extent.

Does higher Hashrate mean more profit?

It’s the approximate average of all the hash rates of each individual miner in the network. A higher hash rate is better, because it increases the miner’s chances of finding the next block and receiving a Bitcoin reward.

How can I get faster at Hashrate?

Again, maxing out fan speeds and memory clocks while dropping the GPU core clocks and power limit are key to improving overall hash rates. Modding the card and replacing the VRAM thermal pads with thicker/better pads is possible and will help cooling and performance.

What is the highest Hashrate?

#1) Antminer S19 Pro
This is given the highest hash rate, efficiency, and power consumption. At the power efficiency of 29.7 J/TH, this crypto mining hardware generates a profit of $12 daily with an electricity cost of $0.1/kilowatt.

How much Hashrate is needed to mine 1 ETH?

Answer: It takes around 7.5 days to mine Ethereum as of September 13, 2021, at the hash rate or hashing power of 500 mh/s with an NVIDIA GTX 3090 that hashes at around 500MH/s. With a GPU that hashes at around 28.2 MH/S, it should take much longer. The profit returned is not equal to the amount of Ethereum.

Which Ethereum mining pool is most profitable?

Best Ethereum Mining Pool in 2022
Hiveon Pool — is a reliable pool that guarantees high-profit payouts with PPS+ distribution mode.

Which crypto is easiest to mine?


Answer: Monero is the easiest cryptocurrency to mine now because it can be mined via browser extensions and free software over websites. It is even mined via crypto jacking. The mining code can also easily be incorporated into apps and websites to facilitate mining.

How much ETH is mined daily?

How many Ethereum can you mine a day? Based the mining hardware inputs provided, 0.08466668 Ethereum can be mined per day with a Ethereum mining hashrate of 6,000.00 MH/s, a block reward of 2 ETH, and a Ethereum difficulty of 12,245,667,430,886,792.00.

Who owns the most Ethereum?

Top 10 Owners of Grayscale Ethereum Trust (ETH)

Stockholder Stake Shares owned
Rothschild Investment Corp. 0.09% 263,394
Weatherbie Capital LLC 0.06% 198,179
Rye Brook Capital LLC 0.06% 192,000
Kingfisher Capital LLC 0.04% 110,152

Is ETH better than BTC?

BTC has certainly been more valuable than ETH, peaking at around $68,789 in November 2021.

How long does it take to mine 1 ETH?

If you created a mining rig with a 100MH/s hash rate, for example, it would take an estimated 403 days to mine 1 ETH – or its equivalent – according to CoinWarz. Even a whopping 2000MH/s, or 2 GH/s, farm would take around 20 days to mine 1 ETH.

Is Ethereum mining going away?

The shift from proof-of-work to proof-of-stake will cut power consumption sharply—and leave some expensive technology searching for new uses.

How many Ethereum are left to mine?

Currently, there are infinitely many Ethereum left to mine. If Ethereum remains inflationary or becomes deflationary is still uncertain. Let’s look at the numbers. By January 2022, according to the figures, a total of 9M+ ETH had been staked.