Hello, have a few questions I am hoping someone can answer. I have talked to some well respected members of the community, and they all seem to agree, that solo mining will never result in profit. That pooling would be the only way I would ever see a peercoin. I found a calculator that disagrees (I think I found it on this forum, but I could be mistaken). According to the calculator, I should get 167.4982 annually (0.27172053 btc).
Usd value of 132.06 . Minus the power cost of 55.22$ . A profit of 76.83$. Not a terrible lot but better than nothing.
So, I’m getting conflicting information, and I am hoping someone can set me straight. I’m guessing one of several reasons why this info conflicts.
1 : The person advising me didn’t know my gh/s, so they cannot accurately guess my chances of turning a profit.
The calculators error margin is bigger than my would be profit.
One of the calculators numbers I leave untouched is wildly incorrect (for example, the difficulty, value of ppc, btc, or block reward). The only numbers I change are : the gh/s (to 63), the wattage (also 63), the $/kwh (0.10), and the pool feel (0%). All others are left untouched. Here is the link to the calculator http://coinbrief.net/c/ppc/mining/ .
Is it any of the above, or something I missed completely?
Ultimately where would I be better off, solo mining or pool?
I would be interested to see how would you propose to solo mine? Because you would basically need to set up pool software to do that. If you know of any other way I would like to see it.
I’m a rather tenacious being (in that, I like to swim in over my head). If possible, I would find a guide on pool software, basically messing with it until it works. I did google for some guides and found a few. Never mind about coding it from scratch, sounds like too much of a pain in the rear XD. Luckly, guides exist
I think it depends on how much hashing power you have available. On a big pool you’ll have a more regular income compared to a smaller pool or solo mining, I run a small peercoin pool which with my current hashing power I have found blocks slowly, Even if I found one block a week I’m still making more coins than if I mine at one of the larger pools.
I’m thinking of investing in ant miners u3. 63gh/s and 50.4 watts of power. At my best, I’ll be able to get 3 per month. I have been trying to avoid it, but i suppose in a way, a pool will be more easy. So by the sounds of it, the smaller the pool, the better? Do pools go on forever, stop when they hit a block, or?