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Not all of them have attained its popularity and not all of them have mining pools setup initially. Once you found one, do your research before you get in to the mining scene. If you feel the coin is worth your time then quickly setup the mining environment and start solo mining.
The process to solo mine is very simple:. Solo mining Ravencoin is not possible due to high network difficulty but anyways we are just showing the method and this applies to every crypto coins out there.
So to solo mine any other Altcoin all you have to do is apply the same procedure. Also in this guide there are two methods involved 1. Solo mining using same computer where the wallet runs 2. For pool mining no client is needed. Just the pool address, username and password is enough. However to solo mine you need to setup local environment and enable RPC port. Follow the steps below to setup a solo mining environment.
Once done let the wallet to synchronize completely. Once the blockchain has been downloaded completely, close your wallet and open the wallet configuration file. For security reasons never ever allow any external IPs. Only allow IPs that are connected to your private network. Example of private IP: This is the address where your wallet will be listening for network connection and requests. Download the mining software that supports solo mining and configure it appropriately.
Your wallet is not needed actually. To solo mine using your mining rig all we need to do is connect the miner to your PC where the wallet runs. Your WiFi router will automatically assign a local IP address for your computer and each of your mining rigs. This local IP address can only be accessed within your private network and is normally hidden from the outside world.
So it is completely safe. To know the internal IP; open command prompt. Now in the command window input ipconfig and hit enter. Fetch this IPv4 address of both your mining rig and your PC. If you have more than a rig then fetch all of its IP address.
Next follow the steps below. Step 1: First close your wallet, then open your wallet config file and allow all those IP. Once done, save the file and keep the wallet open. Step 2. Now in your mining rig enter the IP address of your wallet machine in the URL field of your batch file. Save it and then run it. First to ensure if you are on right track check the block height that you are mining currently.
Open your wallet, go to Debug console window and enter getmininginfo which will return the block height. In addition to this you can also use the block explorer. The reward for the block which you solved will reflect immediately in your wallet address that you entered in the miner batch file. Research on this as most of the new forked coins have removed getwork command, they only support getblocktemplate.
Currently getblocktemplate is only supported by sgminer, cgminer and some forked ccminer. Each and every client is a little bit different so you may encounter some errors at the start. However if you understand this setup then with few tweaks you can get them working. Hope this guide helps! Solo mining still exists and, in fact, became easier for the less tech savvy people.
I mine verge a day, for instance, on a 3 year old computer running GTX 3Gb using Begrip Miner from buzzilio. The best answers are voted up and rise to the top. Solo mining just for luck, realistic? Ask Question. Asked 7 years, 3 months ago. Active 4 years, 8 months ago. Viewed k times. What are the odds?
Improve this question. Isac Isac 1 1 gold badge 3 3 silver badges 8 8 bronze badges. Add a comment. Active Oldest Votes. PS: Math. Improve this answer. Luca Matteis Luca Matteis 4, 14 14 silver badges 21 21 bronze badges.
Where 69 years is the expected time , it could be much quicker with luck, but likely much longer because the difficulty its constantly increasing meanwhile. Thank you. One more thing, is theory and practice the same thing in this case? Isac: In theory, theory and practice are the same. As dam close as. Don't use your CPU, use the electric bill your running up to go buy lottery tickets instead, better odds. CPU is as you say, very useless. Show 2 more comments. Tim S. Lottery ROI is consant.
Bitcoin difficulty is not. TimS, but surely there's a minimum amount of computational power you need before you can even "take part in the bitcoin mining lottery" right? Pacerier There is a minimum. I'd estimate 10 minutes per hash as the minimum to participate: you could do approx.
There is a chance that hash is the right one! You've played the lottery. May 22 '14 at Pacerier note that there is no hard minimum. However, I'm pointing out that when you get into the range of minutes per hash or slower , there is an extra limiting factor: blocks have likely been found in the meantime. Btw, that extra limiting factor is actually closer to 3 minutes right? Since we had to factor in the delay of actually getting notified when someone else has won lottery.
Show 1 more comments. You are correct, the question was about the odds of the asker succeeding in finding a block. However, you can either express the odds as chance per block or as expected time until the outcome will be achieved, Luca has chosen the latter. The 1GH is also highly over-estimating his CPU's mining power, a more realistic value would be less than 0.
So, the odds are more along the line of per year, traded for the energy cost of running the PC at full-blast for a year. It's better than being in the lottery! So, all chance calculations aside, are you feeling lucky? Lodewijk Lodewijk 1, 10 10 silver badges 15 15 bronze badges. Better than which lottery? Assuming that your mining hardware is equal to others' you'll be better off than any lottery. Provided the lottery works as expected collect money and give it to a single participant - fees.
But with worse hardware it all just depends. It will not improve your chances. It doesn't even affect your gambliness. Downvoted: "No matter what statistics are used to calculate the odds of hitting the jackpot, they can never be used to predict the outcome. The Overflow Blog. I followed my dreams and got demoted to software developer. Podcast How to think in React. Featured on Meta. Opt-in alpha test for a new Stacks editor. Visual design changes to the review queues.
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You will receive nothing in case of an invalid address. Worker name for an Address is optional and can be set with. Nicehash is supported for SOLO pool. Word nicehash should be used as a Password to use Nicehash. The pool uses VarDiff mechanism and adjusts share's difficulty automatically to an optimal value, but Custom Diff is also supported. Please note, regular user should not use custom difficulty , this is a special case usage option like problem equipment or kind of Stratum Proxy.
Instant Payout We offer an Instant Payout immediately when block found, pool never keeps mined coins. Transactions Fees Transactions fees are paid to miner! If you have more than a rig then fetch all of its IP address. Next follow the steps below. Step 1: First close your wallet, then open your wallet config file and allow all those IP.
Once done, save the file and keep the wallet open. Step 2. Now in your mining rig enter the IP address of your wallet machine in the URL field of your batch file. Save it and then run it. First to ensure if you are on right track check the block height that you are mining currently. Open your wallet, go to Debug console window and enter getmininginfo which will return the block height.
In addition to this you can also use the block explorer. The reward for the block which you solved will reflect immediately in your wallet address that you entered in the miner batch file. Research on this as most of the new forked coins have removed getwork command, they only support getblocktemplate.
Currently getblocktemplate is only supported by sgminer, cgminer and some forked ccminer. Each and every client is a little bit different so you may encounter some errors at the start. However if you understand this setup then with few tweaks you can get them working. Hope this guide helps! Solo mining still exists and, in fact, became easier for the less tech savvy people. I mine verge a day, for instance, on a 3 year old computer running GTX 3Gb using Begrip Miner from buzzilio.
Here is the. Hey man great article. But is there a website where it lists all the newest alt coins that are out? Check this post. Hello somebody can help me to install a minerpool or solomining? We mined schillingcoin but now the developer closed the pool!! But he took this pool. Good guide except you need to remind people to re-open the wallet before the final step when running the configured miner.
This is a very intereting post but it lacks support for an asic miner. I tried following the guide up to the point of setting up my asic miner. I need help. I am copying bitcoin solo via USB. I have Bitcoin wallet and the whole synchronization is OK. When I start the cgminer with the machine idize diff very high. USB does not copy. How do I change diff in bitcoin. Hello dears, I tried a lot of my time to setting my antminer s9j up but unfortunately i did not success. What should I do!?
Your email address will not be published. Notify me of follow-up comments by email. How easy is it to solo mine new Altcoins? The process to solo mine is very simple: Find a new coin and ensure the network hashrate is low to solo mine Grab the QT wallet Create a config file , config the RPC port, ensure the server is setup and allows the IP address of your hardware. How to solo mine any Altcoin? Show More. We regularly publish content about Bitcoin, Ethereum, Altcoins, wallet guides, mining tutorials and trading tips.
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