Does everyone receives the Block Reward ?

UserU

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Merit: 537

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Quote from: FP91G on March 20, 2021, 03:25:25 PM

Ethereum is not a solo mining coin.
You may not find a block for several years, and most likely you will.
But in a week you will be tired of it.
Better join a mining pool and get permanent mining rewards.
I would not go to mine Ethereum classic in solo mode with such a hash

He's talking about Ethereum, not Ethereum Classic though.

JayDDee

full member

Activity: 1424

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Nothing is guaranteed solo mining, they're just statistical estimates of the average time.
Think of it like an instant lottery and you're buying tickets (calculating hashes) as fast as
you can to find the winning ticket (hash that solves the block) before anyone else. The faster
you can buy tickets the better your chances.

fmz89

legendary

Activity: 1762

Merit: 1002

Quote from: so98nn on March 20, 2021, 12:04:09 AM

When we are mining, let's say ETH do we get the reward for it irrespective of hash rates, number of mining rigs etc?

For example : If I am a solo miner with only single mining rig in place and having hash rate of 144 MH/s then as per the etherscan mining calculator I will get the following results:

Hash rate (MH/s) * 144
Power Consumption (in Watts ) * 900
Cost per kW/h (USD) * 0.10
Network Hash Rate (GH/s) * 457,200.84
Average Block Time (Secs) * 13.1
Price of 1 Ether (USD) * 1800

Comment by calculator as below:

It will take you an average of 481.40 days to find 1 block

So whether it is confirm that my rig will find the block by 482 days and if yes, will I be paid out by the pool for this block reward?

Has anyone solo mined a block here?

no you cant mine eth solo at your hashrate, and the bigger hashrate will always get more block and there is "lucky" when you mining, better to mine other coin which is low nethash, and more likely to get some block rewards

FP91G

legendary

Activity: 1834

Merit: 1136

Ethereum is not a solo mining coin.
You may not find a block for several years, and most likely you will.
But in a week you will be tired of it.
Better join a mining pool and get permanent mining rewards.
I would not go to mine Ethereum classic in solo mode with such a hash

XUR_TIP

member

Activity: 227

Merit: 24

You might end up with nothing if you go for solo mining and also you will have higher chance of solving a block if you have higher hashrate, I can only do solo mining if I have 500Mh per second

Vann

hero member

Activity: 1036

Merit: 606

You get the full block reward when you solve a block solo mining. When mining on a traditional pool, they distribute the block reward from the block found to all the miners that submitted shares for that block, proportional to the shares they submitted to the pool. However with solo mining there is no guarantee when or if you will find a block to receive a payout. The estimated time given by the calculator is just an average of how long it should take you to find a block if you mined 24/7/365 at the given hashrate and current network difficulty. It's dependent on luck, so it could take much longer or much less time.

If you want to solo mine ETH, you're better off using a pool like ethpool, where you accumulate credits towards receiving a full block payout once you reach the top of the list, which will take over a year with only 144 MH/s. ETH will probably move to POS by then so if you want to mine ETH, stick to a pool.

so98nn

hero member

Activity: 2114

Merit: 603

When we are mining, let's say ETH do we get the reward for it irrespective of hash rates, number of mining rigs etc?

For example : If I am a solo miner with only single mining rig in place and having hash rate of 144 MH/s then as per the etherscan mining calculator I will get the following results:

Hash rate (MH/s) * 144
Power Consumption (in Watts ) * 900
Cost per kW/h (USD) * 0.10
Network Hash Rate (GH/s) * 457,200.84
Average Block Time (Secs) * 13.1
Price of 1 Ether (USD) * 1800

Comment by calculator as below:

It will take you an average of 481.40 days to find 1 block

So whether it is confirm that my rig will find the block by 482 days and if yes, will I be paid out by the pool for this block reward?

Has anyone solo mined a block here?

Topic: Does everyone receives the Block Reward ? (Read 171 times)