⛏ Solo Mining VS Pool Mining
mining·@monerov·
0.000 HBD⛏ Solo Mining VS Pool Mining
 In the world of crypto mining, miners are incentivised with block rewards that are given to a single person or to a group of people (mining pool) that find the correct solution to the cryptographic hashing algorithm.  Mining difficulty <b>gradually increases over time</b>. In order to keep up with the difficulty, miners need to increase their computational power or they will suffer a decrease in blockrewards. <b>Only the first person</b> to solve the cryptographic hash will receive the block reward, winner takes all. All the other competing miners will be left with nothing. <div class="pull-left">  </div> It's like trying to open a 3 digit number lock by <b>guessing the numbers</b>, if you are lucky you can get it right at the first try, on the other hand it can take you 999 tries to open it. This <b>randomness</b> is one of the main reasons mining pools where created. <br /><br /><br /> Solo Miners have to deal with those <b>irregular payoffs</b>, which makes it difficult to keep up with the <b>regular electricity bills</b>. <h3>There are 2 kinds of mining pools</h3> - <b>Single Mining Pools</b> are only mining for a specific Cryptocurrency. - <b>Multi-mining Pools</b> switch which Cryptocurrency to mine based on current profitability, Minergate is a good example for that. <center><h1>Pros and Cons</h1></center> <h3>Solo Mining</h3> ➕ <b>No fees</b>, you are paid the full block reward. ➖ Depending on Hashpower, <b>high variance on payouts</b>. ➖ <b>Complicated Setup</b>, there is no Help Desk 😊 <h3>Mining Pools</h3> ➕ <b>Smoother income distribution</b>. ➕ <b>Easy Setup</b>, leave most of the headache to the pool admins. ➖ <b>Small fees</b>, but reduced risk of orphaned blocks. <center><h1>MoneroV Mining Pools</h1></center> <div class="pull-left">  </div> <b>MoneroV Mining Guide</b>:<br/>https://cryptobuzzed.com/blog/mine-monerov/ Below is a list of MoneroV Mining Pools, ordered from highest to lowest hashrate. https://xmv.magnificentpool.com/ https://xmv.coolmining.tk/ https://xmv.cryptopool.space/ https://xmv.infinity-pools.cc/ https://monerov.fairhash.org/ https://monerov.miner.rocks/ https://monerov.herominers.com/ http://monerov.rocketpool.pro/ https://xmv.go-mine.it/ https://cryptoknight.cc/monerov/ http://pool.baikalmine.com/en/xmv/ https://easyhash.io/monerov <center><h1>Steemit Competition</h1></center> <div class="pull-left">  </div> Don't miss our weekly <a href="https://steemit.com/contest/@monerov/new-exciting-steemit-contest">Steemit Contest</a> where you can win <b>50 XMV</b>! Solve the secret code and the prize is yours! Submission deadline is <b>Saturday the 16th of June</b>. The Winner will be announced on Sunday!