Let’s say that a user has a gepast amount of computing power. At the current difficulty of 1777774.4820015, he could have for example 10Gh/s (he would earn around Five BTC vanaf day according to a rekenmachine).
Is it more profitable for him to solo mine or to pool mine? What are the differences ter this situation?
It downright depends on the “pool toverfee”. Theoretically, with a zero procent pool toverfee, solo mining and pooled mining should, overheen the long term, produce precisely the same revenue. The only exception is that some (most) pools keep the transaction fees for themselves.
If you mine solo, with an expected Five BTC/day take, that will mean on average you’ll mine a 50 BTC block every ten days. It will be totally random however. You could mine two blocks ter a day. You could go three weeks without a block. When the difficulty switches, not only will the amount you get paid switch (that always happens) but the time inbetween payments will switch drastically spil well.
If you mine te a pool, you take the pool toverfee right off the top. A 3% pool toverfee means you make 3% less. Also, most pools don’t pay transaction fees. But your revenue is more predictable. You’ll get paid on a regular onderstel and your payments won’t vary much (until the difficulty switches, of course).
One advantage to solo mining is that it’s more reliable. Pools have outages and have had a problem with denial of service attacks lately. Mining solo, you aren’t relying on other people’s systems to keep your mining going. If you pick a very reliable pool, or use a mining proxy with a “fallback pool” configuration, this isn’t a major kwestie.
One advantage to pooled mining is that you get to use the pool’s devices. Thesis include things like web-based control panels, alerts, and so on.
The rule of thumb I recommend is to solo mine when you have enough hash power to generate at least one block vanaf day on average and use a pool if you have less than that. You can expect the pool to take inbetween 1 and 3% for their service, but that’s a better alternative to the uitzicht of being unlucky and not getting a block before the next difficulty retarget.
Solo is more profitable te the long run for the reasons David stated. And if you do the math, you will see it is independent of hashrate. Only variance is higher. But you should consider pool hopping spil well for maximum profit. By always mining at the pool with the presently highest projected share price for the next block, you will earn even more than you would mining solo.
If the difficulty doesn’t increase before mining a block, then solo mining is more profitable, because the pools normally take fees. otherwise pool mining is more profitable.