Is there any point to use the minning pools? I’m thinking about it and I got some pools like honeyminer or monerohash. Some reviews say that honeyminer is still good,like this. https://cryptogeek.info/en/mining/honeyminer.it could give some profit. How do you think? Is it worth to try ? Or maybe give up on this and just sell and buy crypto?
It’s really personal preference, I mine Litecoin not for profitability, but any coins generated is a plus” but I mine because I believe in blockchain and its use case. Mining helps the strength of the network and validates blocks. Currently mining with the future bit Apollo which also has full node for Litecoin as well. At the end of the day it boils down to what is your reason behind it? Profit, contribution to the protocol and network. You would want to evaluate electricity costs, cost of miner etc. I mine with litecoin pool.org which is PPS “paid per share” been looking into prohash for my Antminer that’s coming, but the pool is working out well being I don’t have enough computer power to generate much on my own. There are different payout methods for different pool operations.
It takes time to mine a coin. I still mine.
I haven’t heard of mining pools. What’s their function?
Instead of solo mining, you join a group of miners and each contribute computing power to share in block rewards, takes a lot of hash to find a block, this provides a steady payout of litecoin or other coins versus a hit and miss scenario
Sounds much better than solo mining. Did you have such an experience?
Yes, I have two miners, mining wit Litecoinpool.org. There are a bunch of pools out there. Here’s a good place to check em out.