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Correct, mining in a pool you are guaranteed your fair share of the mining (minus admin fee from the pool operators). Even if you never mine a single block, yo
by patriksvensson 6y ago
Correct, mining in a pool you are guaranteed your fair share of the mining (minus admin fee from the pool operators). Even if you never mine a single block, you get your fair share of the mined blocks by the pool.
If you were to mine by yourself, you'd get zero pay outs unless you actually mined a block. It is possible, but the odds are on par with winning the lottery.
DYOR on pools, but I can recommend f2pool (https://www.f2pool.com/ https://www.f2pool.com/) for Ethereum mining.
- gruez 6y ago>If you were to mine by yourself, you'd get zero pay outs unless you actually mined a block. It is possible, but the odds are on par with winning the lottery. It's slightly better than that. A single 5700 xt mining ethereum can expect a block once every 43 months at current difficulty. That's still insanely high variance, but still far better than the lottery.
- patriksvensson 6y agoInteresting, that IS slightly better than I expected, at least for Ethereum. So if we treat each block being found as a lottery "ticket" and that solo miner with a 5700xt on average can expect to mine a block ("win the lottery") once every 43 months.... For Ethereum: 1 block every 15 seconds 5760 blocks in a day 172800 in a month (30day avg) 7430400 blocks in a 43 month period. So about 1 in 7 430 400 odds when solo mining. Pool highly recommended specially because Ethereum is moving away from the current system of mining long before 43 months from now!