Quote:
Originally Posted by MainstreamGuy
mining in a pool wont make any difference at all, because at the end, when you find the block and complete the cycle, each miner will get the same part as if they mined individually..
Its funny to think that people who join a bitcoin mining pool, will make more money lol... That's not going to happen.
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"With solo mining, you have a small chance at getting the full payout of 25 BTC ranged around the time it should take to get you a block. The error in this range is what is known as luck. You could have good luck and get a block before the time you're supposed to, and you could have bad luck and not get one for a long time.
What solo mining does is takes the amount of work you do, and runs it through an equation that gives you the exact amount you should have gotten paid in that time period taking into account your hashrate.
For example: You have x hashrate which should get you a block every 10 days. You join a pool and they pay you 2.5 BTC per day to mine; this will give you 25 BTC every 10 days. If you were solo mining with x hashrate and you should get a block every 10 days, it could be 8, it could be 25"