Litecoin server starting Wait a minute then run: Try using telnet to make sure the port is open:. Bitcoin I started it again:. However, Mining pointing out that when you get into the range of minutes per hash solo slowerthere is an extra limiting factor: You've played the lottery.
As long as you're in good communication with the network and have a hashrate measured in something better than minutes per hash, yes, you technically do have a chance of successfully mining a block, even if your hashrate is tiny compared to the whole network. You will need to install and configure Litecoin Core on your server. There's some influence, inevitably, but others endure it too. Add some troubleshooting for network errors. I looked into solo mining and couldn't find anything about solo mining with Innoslicion equipment.
You may bitcoin to replace ubuntu with a different username. Run crontab -e and add:. Bitmain will use some of its own hash rate and work with the developer community to mining a contingency plan based bitcoin UAHF. Daemonizing the Solo Server I'm a solo fan of systemd on Ubuntu so I decided mining daemonize my Statrum server using systemd. Welcome to Reddit, the front page of the internet. What is Solo Mining and how it works? If your interest is to go for a long run solo mining and pooled mining you will get you exactly the same amount that you expected.
You will need to install and configure Litecoin Core on your server. You will need to be running litecoind Litecoin Daemon as well. Here's how I recommend to install it. First we will configure the Litecoin Daemon then we'll start it. Litecoin Daemon looks for a litecoin. Once you know where you will put your config file, here's how I recommend configuring your daemon:.
And look at the output for the "blocks". Run the command again and look at "blocks" again. Confirm the number of block is increasing. This means that the Litecoin Daemon is downloading the blockchain. This will continue until the daemon has downloaded the full blockchain this is why you needed GB of disk. You can do with by editting crontab. Run crontab -e and add:.
Not going to get into that here. Email me for more about that. Now that we have Litecoin Daemon running, we can setup out Stratum server where we can connect our mining rig and start working. If the server was started successfully, you will start getting log messages on the command line. Since I wasn't done downloading the blockchain, I had these messages. I also remove the part about fees since this is a pool just for myself:. I'm a big fan of systemd on Ubuntu so I decided to daemonize my Statrum server using systemd.
The advantage of this is:. At this point, your pool is all set and you can start working. Connect your miners to your pool as:. I was participating in a pool and found 2 blocks which would have earn me a 50 LTC reward. I looked into solo mining and couldn't find anything about solo mining with Innoslicion equipment.
I didn't want to SSH into my controllers and install anything so I looked into creating a pool where I could then connect my rigs to. I also realized that creating my own pool meant I would be adding a node to the Litecoin network. More nodes mean more robust network so in a way I'm adding some value to the Litecoin network.
This follows Metcalf's Law which values a network as the number of nodes to the power of 2. This means the difficulty is too low for your miner. Bumped the diff to and the problem went away. If you get socket flooding, you need to adjust your difficulty. Read the original Bitcoin Whitepaper by Satoshi Nakamoto. See a list of past AMAs here. If you are interested in having your own AMA, please message the mods and let us know.
Solo mine Bitcoin ABC? Ignoring whether or not it is profitable, can it still be done with the Bitcoin ABC client? I see this capability was removed from Bitcoin Core some time ago. There is no CPU-mining. For solo mining you need to hook up your asic to cgminer or other software , and configure cgminer to talk to BitcoinABC. The built in CPU miner was removed in Core 0. It only worked once I added the getcbaddr to the URL, thanks to stumbling on https: You can using the generate rpc call.
But it won't do anything really, cpu are not enough to mine. Bitmain will mine the chain for a minimum of 72 hours after the BIP forking point with a certain percentage of hash rate supplied by our own mining operations. Bitmain will likely not release immediately the mined blocks to the public network unless circumstances call for it, which means that Bitmain will mine such chain privately first.
Miners are essentially playing a lottery game in which increasing their computational power would increase their odds of winning the current Since the mining difficulty value is constantly adjusted to match the computational power at play, the blockchain does not suffer from increased hashing rates and miners are essentially inflating the system values — not their production speed.
The difficulty is currently high enough that pools of miners have been forming everywhere. By pooling their resources and sharing the revenue based on their respective computational power equity, even the smaller miners can earn steady revenue. Solo mining requires much higher odds to be the first to confirm a block due to the current target threshold. We know that the difficulty value is adjusted every blocks so that it takes an average of 10 minutes to solve the problem so our chance to find a hash would be one in:.
To preserve the odds you would need to adjust your computational power to the difficulty.
Check this page: How soon might I expect to generate a block? So with the current difficulty ,,, and a 1Ghash/s mining rig (faster than your CPU) you'd do this math: * wearebeachhouse.com(2,32) / wearebeachhouse.com(10,9) / 60 / 60 / 24 / So to find a block at this difficulty with a 1Ghash mining rig it. 25 Sep Solo mining requires much higher odds to be the first to confirm a block due to the current target threshold. What would the odds be for a solo miner to win the jackpot? The chance of winning the Bitcoin Block Reward is currently one in 7,, every 10 minutes with Gh/s. 12 Dec litecoin-solo-mining-tutorial - Tutorial for setting up your own pool to mine Litecoin.