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[NoLimits15]

Would you mine alone or mine together in a group? Both have their own advantages and disadvantages, for instance, mining alone can have greater rewards since you don't have to divide the rewards between miners but you need to provide at least 0.11% of the hash rate to earn 1 BTC per day which is a LOT. You would need around 1200 Antminer S19s to get that sort of power and yeah that's pretty expensive! However, if you're mining together in a group forming a mining pool, chances of discovering a block is higher and less time consuming, you don't need to provide much hash power. Then again, rewards are divided depending on the hash rate each miner provides. What would you choose?

 

[Balint098]

Pretty sure most people would choose mining in group since not that many are fortunate enough to have enough capital to start mining alone.

 

[Crystal]

This principle of SOLO vs. POOL applies to all mineable cryptocurrencies not just bitcoin.
98 % of the world people which are mining are forced to join to POOL mining and only 2% or less owns a mining farm of impressive power like in china.
Even if lets say 1 monero (= ~60 USD) reward has be split to 12000 miners at least people can get around $ 0.005 worth, every ~10 minutes , people will prefer this chance (POOL mining) instead of chance to get 1 monero every 5 years from SOLO mining.
Not to mention about price volatility and unsafe future of the cryptocurrencies which of course will make people to get coins NOW instead of LATER in 5 years.

So yes, mining in a POOL with PPLNS reward system is the best bet .

 

[crypworld]

Yes I agree, Mining alone can have higher rewards but you will have to incur HIGH electricity charges, purchase a SOLID hardware system to earn good returns per day plus the maintenance cost.

Whereas, for POOL mining the cost incurred is less compared to Solo mining, though the profit has to be shared with the group.

 

[Reznov]

mining in a group has its own cons and pros just like mining alone, in a group you learn a lot of new things and you don't share only the profit but the loss as well

 

[Josemendez]

I will prefer to mine alone if only I can afford the necessary equipments that will help me mine successfully . It is better because I won't have to face any issue of distrust from anyone

 

[Bits29047]

there is no way to gain reasonable amount by mining alone, maybe few years ago it was a thing but not now anymore

 

[Josemendez]

there is no way to gain reasonable amount by mining alone, maybe few years ago it was a thing but not now anymore

I think otherwise . With a good amount of money , one can purchase mining equipment on his own and be able to mine successful without any issue .

 

[UserU]

I think otherwise . With a good amount of money , one can purchase mining equipment on his own and be able to mine successful without any issue .

Not easy anymore bro, let alone profitable. You have to factor in electricity, heat waves, maintenance, yadda yadda and not to mention the initial cost of the ASIC.

 

[Josemendez]

Not easy anymore bro, let alone profitable. You have to factor in electricity, heat waves, maintenance, yadda yadda and not to mention the initial cost of the ASIC.

I know , what I mean is that if one who really want to key in into mining and who has saved the money for it can be able to mine alone if he has the knowledge as well

 

[Wisdom01]

I think i will prefer mining group since we could both contribute our resources to mine and make more money and those mining rig are expensive so we contribute to be able to set it up

 

[Ginatime]

As for me I will first mine in group then after saving up enough Bitcoin to get the S19s then I will move to solo mining

 

[Wisdom01]

As for me I will first mine in group then after saving up enough Bitcoin to get the S19s then I will move to solo mining

What is solo mining? yeah its best to first run on a partnership deal interms of mining so you could earn and save up some money that will help you buy your own

 

[Growrich1]

Would you mine alone or mine together in a group? Both have their own advantages and disadvantages, for instance, mining alone can have greater rewards since you don't have to divide the rewards between miners but you need to provide at least 0.11% of the hash rate to earn 1 BTC per day which is a LOT. You would need around 1200 Antminer S19s to get that sort of power and yeah that's pretty expensive! However, if you're mining together in a group forming a mining pool, chances of discovering a block is higher and less time consuming, you don't need to provide much hash power. Then again, rewards are divided depending on the hash rate each miner provides. What would you choose?

Mine in group.
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Regulated by Australian Securities & Investments Commission
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Feel free to reach for more assistance
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[SueLow]

I've recently decided to switch to the mining pools from solo mining. But I haven't chosen the right place to join yet. Have anyone used these mining pools in this list https://changelly.com/blog/bitcoin-mining-pools/? Are they okay? Or if you have any other in mind, please share it :)

 

[OnlyUreka]

Due to the increasing number of miners all over the world, the bitcoin mining difficulty level is currently so high that it is almost impossible for the solo miners to make profit. Not just that, solo mining consumes a lot of time and in the end, all the work goes for nothing.

 

[Sincere66]

It depends on individuals expertise to mine. If you feel capable of providing every metrics to mine successfully alone, then you can do that single handedly. But if you feel that you don't have what it takes to mine alone, then you should join a pool to mine BTC successfully.

 

[bitforex22]

Mining in a pool is more beneficial though we can get a block more easily than doing it single shared rewards are OK as long in profits

 

[Uks81]

Would you mine alone or mine together in a group? Both have their own advantages and disadvantages, for instance, mining alone can have greater rewards since you don't have to divide the rewards between miners but you need to provide at least 0.11% of the hash rate to earn 1 BTC per day which is a LOT. You would need around 1200 Antminer S19s to get that sort of power and yeah that's pretty expensive! However, if you're mining together in a group forming a mining pool, chances of discovering a block is higher and less time consuming, you don't need to provide much hash power. Then again, rewards are divided depending on the hash rate each miner provides. What would you choose?

I mine alone

 

[GoldenLady]

To get the kind of power needed to mine alone is almost impossible for my part of the world.

The cost of electricity alone is staggering. Mining in groups will definitely be better, and the profits will be worth it to us, considering the average standard of living.