Hello,
Maybe somebody can help me.
How can i calculate how many GH/s i need to solo mining for example the DigiByte (Scrypt) Coin?
Regards
calculate solo mining
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Welcome to the System Support forum! Encounter a problem related to the pool? Post your issue here and we will help you out.
Keep in mind that the forums are monitored by PROHASHING less closely than the official support channels, so if you have a pressing issue, please submit an official support ticket so that our Support Analyst can look into your issue in a timely manner.
We cannot answer financial questions related to your account on a public forum, so those questions should always be submitted through the orange Support button on prohashing.com/about.
For the full list of PROHASHING forums rules, please visit https://prohashing.com/help/prohashing- ... rms-forums.
Re: calculate solo mining
You can solo mine any mineable coin as far as I know.... obviously the more mh/s you have.... the more profitable it will become.
A good website is Litecoinpool.org. Under the calc tab you can see how long it would take to find a block solo mining. You are then compare that number vs a pool such as PH to see which makes more sense.
Generally, the higher the difficulty, the more hashing power required.
While anyone can solo mine, that does not make in more profitable to solo mine.
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Example:
To mine one block a day of LTC per day, you need about 96 L3+'s or 48,000 MH/s. Each LTC block is worth 25 coins. At a current price of $52.57 per coin, that equates to an expected daily value of $1,314.
Lets compare that to PH:
Last night the pool revenue was 3.30 cents per mh/s. Therefore, the answer is .0330 X 48,000 = 1,584.
So - As you can see, it is more profitable to do PH vs mining solo by about 21%.
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This is just an example using LTC. Naturally, different coins will yield different results and some of those coins WILL be more profitable than PH on a day or two, but not over the long term as high profit encourage miners to enter and thus increase difficulty and reduce profitability.
Another thing to consider is even if you could mine a coin that was 2x more profitable that PH's stated rates, it would likley very thinly trades and this any earnings may be locked in that coin meaning any attempt to capture the value will cause the price to plummet.
A good website is Litecoinpool.org. Under the calc tab you can see how long it would take to find a block solo mining. You are then compare that number vs a pool such as PH to see which makes more sense.
Generally, the higher the difficulty, the more hashing power required.
While anyone can solo mine, that does not make in more profitable to solo mine.
-------------------------
Example:
To mine one block a day of LTC per day, you need about 96 L3+'s or 48,000 MH/s. Each LTC block is worth 25 coins. At a current price of $52.57 per coin, that equates to an expected daily value of $1,314.
Lets compare that to PH:
Last night the pool revenue was 3.30 cents per mh/s. Therefore, the answer is .0330 X 48,000 = 1,584.
So - As you can see, it is more profitable to do PH vs mining solo by about 21%.
---------------------------
This is just an example using LTC. Naturally, different coins will yield different results and some of those coins WILL be more profitable than PH on a day or two, but not over the long term as high profit encourage miners to enter and thus increase difficulty and reduce profitability.
Another thing to consider is even if you could mine a coin that was 2x more profitable that PH's stated rates, it would likley very thinly trades and this any earnings may be locked in that coin meaning any attempt to capture the value will cause the price to plummet.