ALL TO SAY SOLO MINING IS "NOT RECOMMENDED"
Why do we say “NOT RECOMMENDED”? How can you make a claim like this? Where is the proof? We cover this and so much more as we discuss what it takes to SOLO MINE 63 + ETHEREUM and how we sleep at night very well saying SOLO MINING IS “NOT RECOMMENDED”. We take you through our journey. Was it the right way? Was it the wrong way? I HAVE NO IDEA. I just know we came across some crazy stuff and we are excited to show the world what we have found!
Above : RENTED SOLO ETH STATS | Below : GPU RIGS SOLO ETH STATS
SOLO MINING, or “the buzz” so to say for us all started while listening to Jarod w/ DIGITAL GOLD talking about having just little amounts of hash (one or two asics maybe) on a network but finding a block and how it was worth it if the amount of time (electric cost) < block reward (solo block reward - pool fee). This really peaked our interest. We had one or maybe two z9mini profit switching some place and we noticed that WE FOUND A ZEC BLOCK!!.. par those together and we were off to the races. We shortly after put out our first ever SOLO MINING VIDEO. We then put together until this our most expensive video to date showing you what was needed to SOLO MINE ZEC. This video was where we first learned how to use MINING RIG RENTALS (MRR). MRR is something we used through out this testing as well as NICEHASH (NH). RENTING HASH TO SOLO MINE IS NOT RECOMMENDED. Follow this up with drilling our first SOLO ZEC BLOCK w/ 2 z9minis in ± 3 weeks and we knew we were on to something. At least something we could bring to the masses they have not seen the likes of before.
When we started SOLO MINING ETHEREUM earlier this year we wanted to BEAT THE GIANTS so to say as well as find out why there was not a lot of information about SOLO MINING out there for the public. We have SOLO MINED other coins (RVN, ZEN, ZEC, ZXC) and have been pretty damn successful if we do say. We did also find an SOLO ETC BLOCK w/ very little hash and in very little time. We wanted to learn for ourselves the ins and outs of SOLO MINING ETHEREUM. We had no idea the “ODDS” we were against. Little did we know there would be a “MYSTERY HASHER” teaching us, holding our hand and making sure we learned the “RAMP AND RUN”. The cost was enormous. Was it worth it? I will let you be the judge of that. I will say this though, “With over 22 SOLO ETHEREUM BLOCKS FOUND with rented hash as well as hash that we own we have the most extensive SOLO MINING CONTENT FOUND ANYWHERE”. Did we mention we found our first SOLO ETHEREUM BLOCK IN 45 ISH DAYS AND WITH ± 88 MH/s?
It all started with a hail marry or so we thought hammering away on SOLO ETHEREUM over at 2MINERS.COM. There is one thing you need to keep in mind with SOLO MINING. You have to be in it for the long haul. DAYS, WEEKS, MONTHS can go by before that block falls. IS IT WORTH IT? That all depends on the block reward. Network hash rate and network difficulty are just a few of the many factors coming into play for SOLO MINING. Only you can know if it is worth it or not.
Before we go any further we need to explain what SOLO MINING is. I have heard a few different definitions of SOLO MINING. The best explanation is ALL OR NOTHING. Find the BLOCK, earn all the REWARD. Don’t find the BLOCK, don’t earn any REWARD. Keep an eye on our LUCK to be able to tell about all the times we failed at finding SOLO BLOCKS.
MINING (which is what we all know and do on a day to day basis) is where OUR miners connected to the mining pool all share in each BLOCK REWARD. Each SHARE your MINER solves earns you a portion of that BLOCK REWARD. Your miners never have to actually find a BLOCK. You are always earning as long as your miners are finding shares AND THE POOL IS FINDING BLOCKS. Each mining pool will typically have its own way of paying miners. Pool fee, minimum payout, payout times all will vary. We do like to use MININGPOOLSTATS.STREAM no matter what type of mining we are doing because all of that information is right at our finger tips.
SOLO MINING (ALL OR NOTHING) is very much how the name sounds. You are connected to a solo mining pool where you still find shares. Just you don’t get paid for those shares. There are other miners connected to the SOLO MINING POOL as well. EVERYONE IS FIGHTING FOR ONE THING, THE BLOCK. We have went days, weeks, and months without finding BLOCKS. We did not earn anything during this time. THE ONLY TIME YOU GET PAID IS IF YOU FIND THE BLOCK. You can go months and months without finding a BLOCK. You may never find a BLOCK. This could be devastating to someone whos only source to pay the ELECTRIC was from the MINING REWARDS. We have also been told SOLO MINING would be where you have your OWN MINING POOL with no one else mining on it but your miners. Same principle here. ALL OR NOTHING.
We did start out with some smaller hash rentals over on MRR and we were lucky, very lucky! You will have to check out our “WHAT IS LUCK” video to learn more on LUCK. All around this same time we first learned about PROXY MINING. What in the world is PROXY MINING. How are we going to compete with something we didn’t even know was there?
PROXY MINING is a whole different can of worms. We first came across PROXY MINING when we were checking out the latest BLOCK REWARDS at 2MINERS.COM and see what hash rate the miners had that were smashing blocks. Emulation is the biggest form of flattery and if we could figure out who was smashing blocks maybe we could replicate it. We could not believe our eyes. How many BLOCKS did they find? What is PROXY MINING? How are they doing this? After months of trying to figure things out about PROXY MINING with a little help from the community we were able to a little more of a grasp on it. IS IT WORTH IT? We still have more PROXY MINING content to create. Only time will tell. We do use 2CRYPTOCALC.COM to help figure out on average how fast our TIME TO FIND (TTF).
Shortly after discovering PROXY MINING we put together a string very, very, very unscusfull rentals in search of solo blocks. These strings of TERIBBLE LUCK had substantial cost to them as well. Remember that 100% LUCK is the time on average your hash rate should find a block. 200 % is 2 x the amount of time on average you should find a BLOCK. 300%… you see where we are going here.
What does it take to get 371 % LUCK SOLO MINING ETHEREUM? The cost was substantial. The time spent can’t be taken back. All done in hopes we could have some solid data. Solid data that we could share with the mining community. The funny thing is, we were told and shown that we were doing it wrong. After striking out multiple times with multiple rentals we started to notice large, and I do mean LARGE amounts of hash showing up on our SOLO ETH address. We were not renting this hash. We did not know where it was coming.
The MYSTERY HASHER came out of nowhere. With us striking out so much we were on the brink of giving up our SOLO ETHEREUM BLOCK HUNT. We had proven everything we set out to. That SOLO MINING was “NOT RECOMMENDED”. People kept telling us in the comments of our videos that LUCK would even out and we would find BLOCKS. Here is the thing. Please keep in mind that IT COST MONEY TO RENT HASH. This isn’t free. It also cost to keep the electric going when searching for SOLO BLOCKS. We were not sponsored for this, no mining pool paid us to test like this, MRR nor NH footed any of or rentals. That is a story in itself. This MYSTERY HASHER was a breath of fresh air. They were showing us things we had not seen before, something we would later call the “RAMP AND RUN”. We were able to track the “RAMP AND RUN” across multiple coins. We could not believe it. The answer was right in front of our eyes the entire time. With out the MYSTERY HASHER we would have stopped at this point. THANK YOU MYSTERY HASHER.
The “RAMP AND RUN” hit us like a tone of bricks. This is the process of coming online to a SOLO MINING POOL or any pool for that matter with a large amount of hash. GIGITITY GIGITITY HASH. LOTS AND LOTS OF HASH. RAMPING UP the pools hash rate and once you find the BLOCK you run to the next SOLO MINING POOL and do it again. Then again and again. The “RAMP AND RUN”.
What does it take to RENT HASH in search of SOLO BLOCKS? We have spent any where from $30 to $40 dollars in upwards of several thousand USD all in hopes of SOLO BLOCKS. We thought we knew what we were doing. So we gripped and ripped 1 TH/s over on NICEHASH. Some say where crazy. We did it all and recorded it. So you could see 1 TH/s come come online. Talk about quick and dirty. RENTING HASH TO SOLO MINE IS NOT RECOMMENDED.
Please keep in mind. At this time we are thinking “what a bust”. This really took the wind out of our sails. We had been chewed up and spit out by the giants of the ETHEREUM BLOCK CHAIN. We could not do anything to grip and rip a SOLO BLOCK with rented hash. Just more fuel to the fire of why “SOLO MINING IS NOT RECOMMENDED”. During this time we had been doing tutorials on “HOW TO SOLO MINE” other coins. We were also hitting SOLO BLOCKS on other projects (XZC, XMR) with ease it appeared. With all the NEW LUCK we had been having it was time to get back to SOLO MINING ETH with what GPU power we had and then BOOM!
Talk about a kick to the jibblets… and UNCLE (uncle is when two miners solve the BLOCK at the same time. We found a SOLO ETHEREUM BLOCK and it was and UNCLE. We are still bitter about this to this day but better and UNCLE than a DUDDER in our opinion. Talk about some good luck though. With this new found LUCK we would be able to give it the college try once more. What do we mean by that? Well we had enough interest in the few videos we had out on SOLO MINING that we wanted to dig a little more. We used our SOLO BLOCK REWARDS to fund the rest of this article. Please keep in mind there are A LOT of losses taken to bring this content to you. There was also some SICK REWARDS. Please don’t take what I am saying for granted. WE DO NOT RECOMMEND DOING THIS. One thing we do love to do is HOW TO videos so we showed you all HOW TO SOLO MINE ETHEREUM WITH MINING RIG RENTALS.
We also were able to show you our best example of the “RAMP AND RUN”. We could not believe that we ripped BLOCKS, yes BLOCKS so fast in a short 3 hour rental. We were able to really grip and rip across multiple MINING POOLS with this shot. If we could recreate this every time you would never hear from us again. LUCK is such a huge factor and yes we are lucky, but we are pretty damn unlucky as well.
We were ON FIRE. It is easy to forget not long ago our SOLO ETHEREUM LUCK was over 650%. I do believe we have some of the largest recorded LUCK on SOLO MINING ETHEREUM.
SOLO BLOCKS ALL AROUND and the “RAMP AND RUN” was working. We rented small amounts of hash for small amounts of time. We struck out will large amounts of hash yet as the rental was winding down we were ripping SOLO BLOCKS. This was a very rollercoaster time for us. We though we were making headway but were we reallly?
We also did a comparison of NH and MRR. We were able to show you how we rented hash which is a completely different experience on both platforms. The biggest difference is being able to cancel a rental in NH where with MRR you are stuck with the rental until the “shot clock expires”. This does allow you to use NH for more of a RAMP AND RUN because once you hit a SOLO BLOCK you can shut things down and recoup the rest of the coins used for that rental. This will allow you to RAMP up again. With MRR once you hit a SOLO BLOCK you will need to point that rented hash to a new SOLO POOL if you are going to RAMP AND RUN.
We found some more “RAMP AND RUN” SOLO BLOCKS. Things were looking pretty darn good for us. Or where they? The cost for each of our rentals was substantial. There were times we were paying 2 plus ETHEREUM for a 3 hour rental. Some of these times we would also miss. That is what most people like to overlook. They just want to hear the “WINS”. They just let the others go in one ear and out the other.
As you look over our SOLO BLOCK REWARDS for AUGUST 2020 you can see our luck. Our LUCK was pretty solid. Even with all this LUCK we still say SOLO MINING IS NOT RECOMMENDED. How can we still continue to say this? Just ask all the people over in our DISCORD that have missed, and missed hard trying to SOLO MINE.
Then we were asked IF IT IS WORTH IT? The million dollar question for sure IMO. Is it worth it has a different meaning for me than you. Are you HODL your coins for a later date? Are you using the coins for more rentals. Do you need to pay the electric from these newely minted coins? Did the BLOCK REWARD cover the cost of the rental? So many different factors will play in to answer this question. Only you can know if it is worth it or not. With results like these we can easily say “SOLO MINING IS NOT RECOMMENDED”
During all of these test we did notice something interesting that had to deal with another coin on this algo. Since we were recording all of the information from MRR with screen grabs and such as well as going back through our previous rentals with MRR we found somethings from certain renters which raised an eyebrow. We actually were able to prove rig owners of turning their hash off for extended periods of time. They were then able to ramp up to “EVEN OUT” the overal hash to make the rating of the rental look solid. What does this allow the renter to do? They can double dip the rented hash while actually not allowing the person who rented the hash from them to actually get good performance. People thought we were crazy when we pointed this out. Needless to say MRR refunded large, and I do mean large amounts of the cost of some over our rentals. And this was even back months.
Just as we thought rented hash rate was attacking the ETC network. We can’t prove it exactly but there is a rental we had with a large amount of hash that would drop then come back. This all happened during the first attack on the ETC network. Once again we can’t prove that one of the rental rigs we were using was part of that attack but to many things coincidently happened after that and these videos discuss just this.
At first ETHEREUM CLASSIC tried to play things off as a chain split. Any one who knows anything about mining knows that was some huey. We totally noticed something fishy with our rentals from MRR but could not quite put the finger on it. I will let you look at all the information we have gathered and decide for yourself.
With these attacks destroying the ETC network there would be hell to pay. Or at least ETC thought so. They were after blood. Millions in coins were double spent during this attack. How could something like this happen? Well in ETC eyes it was the services like MRR and NH who provided means to do this. Don’t blame the people who actually did the attack. Go after the only ones you can. Lots of shenanigans followed. Some of which we will explain.
Because of this MRR has changed how they allow renters to rent hash. Because of this change we did stop renting hash for a while from MRR. Our favorite rentals were no longer. It became more difficult to rent large amounts of hash. No more rentals over 10 GH/s are allowed on ETHEREUM at MRR currently. Because of these attacks ETC would change forever as well. You were able to rent all sorts of large amounts of hash there.
With all our “GOOD LUCK” there has been more “BAD LUCK” to follow. During all of this SOLO ETHEREUM testing we were running our GPU rigs on other coins as well. We also have those ASICS running up LUCK as well. Below you can see our SOLO ZEC LUCK. Just more ammo for WHY SOLO MINING IS NOT RECOMMENDED.
Not only did we run into BAD LUCK with our squadron of GPU miners but we also HIT THE WALL so to say with our rented hash. It is very fitting that our rented hash had not found a SOLO ETHEREUM BLOCK in months. Strike out after strike out after strike out with short RAMP AND RUN shots at the crown. All while others are using the RAMP AND RUN to successfully fill their COIN PURSES!
There also was new light shown on the PROXY MINING FRONT. There are a lot of people who want to know HOW PROXY MINING WORKS and IF IT CAN HELP FIND SOLO BLOCKS. First things first. PROXY MINING IS NOT NEW. Also please do not pay anyone to teach you how to PROXY MINE. There is more information out there you just need to dig. We do know this. The PROXY MINING we discovered is using custom software. With a MINING PROXY you can mask your hash, you can make it easy to change MINING POOLS, you can also filter out LOW DIFFICULTY SHARES. ALEX COBB does not show you how do do any of this. We are currently working on our HOW TO PROXY MINE video. This will be with SOLO MINING and STANDARD MINING. Is PROXY MINING WORHT IT? We don’t have enough data to say one way or another.
With the last batch of bad luck we had encountered it was just about time to put this cat in the bag. We once again have been very successful SOLO MINING other projects (ETC and ZEN), during this time and then BOOM GOES THE DYNOMITE. Another SOLO ETH BLOCK found with our REMOTE GARDEN LOCATION (RGL)
With this latest bit of LUCK we knew it was time for one last run at the championship. We had successfully SOLO MINED 19 ETHERRUM BLOCKS with rented hash and needed just 1 more to be able to call it quits. What better time than now with those SOLO BLOCK rewards through the roof.
Why rent hash to prove this point? That is a great question. We have shown it can take months for our miners to find SOLO ETHEREUM BLOCKS. Renting hash rate is a way to “ACT” larger than you are if that makes sense. The larger or more hash you have the more “results” we can find. It would take us years to SOLO MINE 19 ETHEREUM BLOCKS with the hash we have. So we rented, grinded, and smashed as many SOLO BLOCKS as we could with MRR and NH. Was it worth it? Do we have more ETHEREUM than we started with? What did we learn? Tens of thousand of dollars went into these test and videos. Some, lets say most of these videos are raw. There is good information to be learned here.
We learned a few things for sure along the way. It does not matter how much hash you throw at her. It does not matter how fast your TTF is. You can think you know when the right time to fire up that rented hash rate is. The biggest thing we learned is “WE KNOW KNOTHING NYNM”. We know nothing about the beast that is called ETHEREUM as far as its current network status is. We just know we are here and there are people filling bags of these BLOCK REWARDS.
WE KNOW THIS IS ALL FOR NOTHING… THIS TEST WAS ALL FOR NOTHING AS NOW ETHEREUM IS GETTING READY TO GO ETH 2.0. Mining ETHEREUM is getting ready to become extinct. We thought we had more time. We wanted to be able to school the masses with solid data. Well we have the data. School is now in session. Will you pass or fail? Will you SOLO MINE ETHEREUM or will you listen to us when we say “SOLO MINING IS NOT RECOMMENDED”.
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