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0 sats \ 2 replies \ @OT 17 Jul \ on: Is Bitcoin solo mining “staying humble”? Or should BitAxes pool mine instead? AskSN
I have about 500GH/s from a Nerdaxe. I have a couple of 1.2TH coming my way but I think it's best to solo mine.
Next year I plan to up my hash rate to around 10TH and I think I'd still solo mine. It would just be such an amazing thing to win. It would be life changing and would inspire others to join in the solo mining movement.
However, if onchain fees spike significantly like around the time of the last halving, it's probably better to join a pool like Ocean as the payout's will be much higher.
But isn't that just gambling with extra steps?
Sure, you can bet 10x in a row in the roulette and get an even higher upside.
But somehow I wouldn't do that with my own money but would spend a considerable amount for hardware and electricity to achieve something similar.
I mean what's the difference with pool mining and then betting those sats in a few years?
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With a 500GH/s miner you only win about 10-15 sats per block (Ocean). You make more sats posting on SN. The only way to do it is solo mining even though it's likely never going to happen.
Someone paying for expensive equipment and spending a significant amount on their electricity bill should probably just use a pool.
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