http://miningpoolhub.com/ is an example of a “sidechain pool” which needs 160 confirmations before coins are paid and http://slushpool.com is an example of a “truly solo pool” which only needs 6 confirmations for coins to be paid
Which means if I am mining directly on wallet , do I get coins in Satoshi or in this case also I need to find block?
As I am doing direct mining on litecoin -qt wallet with CPU pooler .
you should need to find a block in order to get paid 25 Litecoins each time you find one…no shares are found, turned in, solved or anything like that…only block hash solutions are mined for instead of share solutions…at the current difficulty you will need an ASIC to find a block on litecoin of a minimum of 100 MH/s …which gives you about a 30% chance of finding a block withing 30 days…and only needs 6 confirmations and is highly unlikely you’ll ever find a block at only 100 mh…
if running P2Pool proxy in the middle will get you fractions (sathoshi’s) every time a block is found by one of your peers…after 160 confirmations but will only get paid for your shares…
you can mine directly to a wallet in both methods…p2pool wont run with out a daemon to connect to like litecoind which is also what is run to mine solo without a intermediate proxy type server…(where only full blocks are found)
here’s a calculator for ya…https://www.litecoinpool.org/calc
Thanks for this useful information… I was taking mining in a different way but the information you have provided me has changed my mind …
It really just all depends on the miners you have and how you are controlling them that determines your best setup options…glad to help…
I have 2 A4 dominator combined hash is 560mh/s for litecoin and which is giving me near about $15 per day … now I am looking to manage my own pool and I have tried to make one for me I made one UNOMP and one MPOS pool on both the pool my miner is just accepting shares or hashes but my LTC wallet is not updating … I not understanding that why my wallet is not updating. … In 1 hours I received more than 15000000 shares but still my wallet did not updated with coins … if any one can help in this I will be thankful…
you wallet will only “update” when you find a block and get paid 25 Litecoins mining that way…
a share is not a block and solo mining only pays for block hash solutions
Ok, I got it … Which means mining is just based on luck …
yep…shares are “pieces of a block hash” if that makes sense…and you can “increase your luck” with more miners connected to one wallet a.k.a. “a mining pool”
Ok,… now I understand. Thanks for helping…
that does not mean you found any blocks…that means you found an answer to your small share of the block hash…
you cannot find a block only mining at 12 kh/s anyways…please look at this calculator: https://www.litecoinpool.org/calc
and this beginners guide: https://www.litecoinpool.org/beginners-guide
pools split up the block hash and send out small pieces to all the workers then those workers find a solution to that potion of the hash and all are submitted as a complete block hash solution.
every hash is a potential block hash solution but the main wallet verifies if it is a block hash solution and then sends 25 Litecoins to the main wallet that is running the server…
in the links above the main server is being run by litecoinpool.org
Thanks for replying,
I got it what you are saying… So , in this image you are also watching that I have accepted some share or hashes… Right… So my question is do I get some reward of these accepted share or hashes ?
I was thinking about solo mining, looked into p2pool but realized that isn’t really solo mining. Is UNOMP what I need to look into for solo mining?
Also, does it make the Litecoin network in any way more robust or reliable if more people mine solo vs. in pools? Idk if that’s even the right way to ask that…
if the pool pays out on a PPS system then yes…if they payout using PPLNS then you have to be mining when the pool finds a block…(see slushpool.com payout system)
…then the block reward is split among the pool based on your contribution towards that block hash solution
litecoinpool.org pays out PPS (Pay Per Share) so you’ll get paid every time that miner window gives you a “yay!!”
P2Pool is your best bet besides PPS payouts unless you have enough hashing power to find a whole block or you plan on never turning off you miner…
I usually turn my miners off for at least 4 hours per day to hopefully prevent over heating problems…seems to help with temp control in the server cabinet though…every time I disconnect my bitcoin miner from slushpool…I miss out getting paid on any blocks they find when i am not mining…it really sucks when they find 3 or 4 in a row and I am not connected…sometimes I don’t miss any payouts though…
but for litecoin…any PPS payout or P2Pool is a good choice…
Hi friend ,
Thanks for replying.
Well I have also tried to mine on slush pool but the problem I was getting on slush pool it runs 10 minutes and next 10 minutes it stops automatically.
So took my s9 from there.
Now about my mining litecoin.
As I told you that the pool on which I am mining this is my own pool . I have created or made it by myself.
Now payout system I have choose in my pool is PPS , I hope u r understanding what I am trying to say. So on that bases I got some share on my pool for litecoin .
I can choose any payout system in my pool … So I have choose PPS … But when I am getting shares on PPS system on my own pool , should I get some rewards while I am getting few shares ?
Every “Share” is a “Guess” towards the block hash solution…you keep guessing until you find the correct answer…its all based on luck…which is why the more machines you have mining or “guessing” at one time…the better “Luck” you have…or the more likely you are to find a block.
you Can Not “Choose” PPS payout if you are running your own pool…PPS payouts are paid by the pool administrator…not by the blockchain algorithm
if your running your own pool you can’t pay yourself per share…
the algorithm will give you coins when you find a block hash solution and you will only get 25 coins when one of those “shares” is the correct solution for a block…if you are mining on your own pool
Technically every “Share” is a “Potential” block solution. The “Share” gets turned into the wallet(server) and then gets compared to the block hash…if they match then you get paid…if no match then you try again…
Pools Like litecoinpool.org are paying everyone out of pocket in hopes that one of the workers connected will find a block…
P2Pool is different…you get paid every time one of your peers finds a block or you find a block on P2Pool
I am searching for that how I can connect my static IP address to litecoinpool.org or any p2pool node by running my own life coin core client on my laptop.
I know it’s all about networking but I am looking at the way from where I can use my Asic miner to get some good rewards from pool or direct from wallet.
What do I need to do in this case?
I have static IP address.
I have full router and firewall access.
I have 100 Mbps internet connection.
I have some sort of knowledge about line.
So anyone can help me to point my miner with my own static IP to litecoinpool.org or any p2pool…
Thanks in advance
you cant add a static ip to any external address…you can only add a static ip to your local netowrk behind your own router…if you want to connect to litecoinpool.org you need to type stratum+tcp://litecoinpool.org:3333 as a starting batch file to mine with a gpu or cpu or put the pool address in the miners configuration page along with your user login information…here is their help page showing the ip addresses to their servers: https://www.litecoinpool.org/help
also please read the beginers guide: