Solo Mining VS Pool Mining

Solo Mining VS Pool Mining

When you start up your Bitcoin mining client you will usually see 2 options. Solo mining or Pool mining. For those who don’t exactly understand the difference between them, I will explain it very simply for you.

Bitcoin Solo Mining

Solo mining means that you are trying to solve a block (containing 25 Bitcoins) on your own. Solo mining takes longer before you see results then with Pool mining, but when you do solve a block, you will get 25 Bitcoins on your own. This is a lot more then the amount you would have been making when you were pool mining. In the end, pool mining is just a matter of luck. If you hit a block, and your computer manages to solve it, your rewards will be bigger then when you go down via the safe route (Pool mining). But, you could also mine solo for a day, and get nothing at all, where you would have made some Bitcoins when you were Pool mining. In order to start solo mining your miner needs to download the full blockchain to know where it has to start. The time it takes to solve a block when solo mining depends on your computing power. The better specs your computer has, the faster it will be able to mine a block.

Bitcoin Pool Mining

Pool mining means that you are trying to solve a block with a lot of people, and then splitting the Bitcoins that come out of the block. These “rewards” are called shares. The more your computer contributes in processing power to solve a block, the more shares you will get out of the block. Pool mining is a safe way to mine Bitcoins, and you will get shares from the moment your computer is mining Bitcoins. This method is very efficient for people who don’t have a high end mining rig at home, or just want to mine at a laptop.

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