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I was wondering 2 things:
How to set up cgminer to mine without a pool?
If if I am successful solving the block how do I claim it / send to my Bitcoin wallet?
I don't have a huge 'rig'. I know you need high hashrate… just starting out and want to know. I can't find this answer anywhere else sorry to ask.
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Read the cgminer documentation about "solo mining". You'll need to install and set up bitcoind and sync the entire block chain, so see its documentation as well.
As far as payouts, note the --btc-address command line option to cgminer; that specifies the address to which the reward will be sent.
Thanks @Nate I will have a look. Also a quick one. Even with a low hash rate is it possible to solve the blockchain and receive bitcoin? Probably dreaming right? But if i was lucky i could right? – Pavle Stojanovic – 2016-06-19T05:37:53.247
Theoretically, sure. Practically, probably not. Depends what your hash rate actually is. There are innumerable calculators out there that will tell you just how "lucky" you would have to be. – Nate Eldredge – 2016-06-19T07:37:45.287
@PavleStojanovic: To get a feeling for your chances of succeeding at solo-mining have a look here: Lottery Mining?, Solo mining just for luck, realistic?, What are the odds of discovering a block as a solo miner?
Though keep in mind that some of those questions are several years old; with increased mining difficulty, the chances have gotten much worse since then. The method for computing chances hasn't changed, but the numbers are very different – Nate Eldredge – 2016-06-19T15:36:58.387
thanks guys, so I did some reading, and just for fun, not trying to profit etc etc... I think I setup cgminer to 'solo mine', I had to create a bitcoin.conf file update the username, password and ip address (127.0.0.1) then I plugged my miners in and ran this command: "cgminer -o http://localhost:8332 -u username -p password --btc-address 14Wuz9LNpNgXZoWotccwrsD3ucLmabQNaN" it didnt throw any errors but not sure I did it right ? i uploaded a screenshot here http://pasteboard.co/1QEOdW56.png
@PavleStojanovic: Appears to be working. You'll know for sure when you actually mine a block. Should only take about 43000 years on average. (Yes, that's the actual number, based on your hash rate.) Enjoy your electricity bills in the meantime. – Nate Eldredge – 2016-06-21T13:16:38.563
thanks mate. yeah I know I have no chance really. but just to know how to set it up and successfully run it is what I'm after :) thanks for your time and effort to get back to me. now when I solve a block in 43000 years i'll share with you :) lol thanks again – Pavle Stojanovic – 2016-06-21T13:21:36.357
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related: Solo mining without a pool?
– Murch – 2016-06-18T09:23:57.503