mining is a gamble.
gamble you will receive items. gamble you find a block.
and now chances would be very slim without a rack full of asics, multiple racks.
Topic: Essentially Gambling your hashes away (Read 1064 times)
You can mine on P2Pool and turn your share difficulty way up— there is a maximum, but it's pretty high. Or you can solo mine.
this is probably the best advice you're going to get.
Solo mine is a lottery, but only takes one block....
Solo mining has reasonable odds.
The network hash rate is 120,000 TH. If you have 1 TH solo mining, then there's a 1/120,000 chance of finding the next block.
The probability of finding at least one block withing the next 13,000 blocks (three months) is:
1 - (119,999/120,000)^13,000 = 10.3%
Because of difficulty increases the probability is a bit lower, but it gives you an idea. There's around a ten percent chance you'll make 25 BTC on more solo mining within three months, and about 90 percent chance you'll make nothing.
I'd prefer the small pool option though. It has the best of both worlds, a small steady income with a few very lucky days.
The network hash rate is 120,000 TH. If you have 1 TH solo mining, then there's a 1/120,000 chance of finding the next block.
The probability of finding at least one block withing the next 13,000 blocks (three months) is:
1 - (119,999/120,000)^13,000 = 10.3%
Because of difficulty increases the probability is a bit lower, but it gives you an idea. There's around a ten percent chance you'll make 25 BTC on more solo mining within three months, and about 90 percent chance you'll make nothing.
I'd prefer the small pool option though. It has the best of both worlds, a small steady income with a few very lucky days.
Is there a calculator somewhere that will tell me my odds of finding a block solo mining?
Everywhere I look the only calculator I find is a either a bitcoin pool mining or alt cyrto currency. Or is there some simple way to figure it out?
Everywhere I look the only calculator I find is a either a bitcoin pool mining or alt cyrto currency. Or is there some simple way to figure it out?
Well you have to specify the timeframe. If dif didn't go up and you mined for 10k years you could get a block (assuming more than 21 mil coins).
Just divide your daily BTC projected income by 25BTC and multiple by 100% - that should be your percent chance of finding a block in 1 day.
Is there a calculator somewhere that will tell me my odds of finding a block solo mining?
Everywhere I look the only calculator I find is a either a bitcoin pool mining or alt cyrto currency. Or is there some simple way to figure it out?
Everywhere I look the only calculator I find is a either a bitcoin pool mining or alt cyrto currency. Or is there some simple way to figure it out?
You can go P2P or join on of those solo pools.
Honestly, you're better off just sticking to BTCGuid and then go gamble the coins on Primedice or something - probably would be more fun.
Honestly, you're better off just sticking to BTCGuid and then go gamble the coins on Primedice or something - probably would be more fun.
You can mine on P2Pool and turn your share difficulty way up— there is a maximum, but it's pretty high. Or you can solo mine.
Are there still small pools that will find a block every now and then? I have some hashes I want to risk/gamble hoping to find a block with a small pool for a larger payout then the .001 I get with btcguild.
I thought about solo mining but that is a real gamble so maybe there is a pool out there looking to build some hashes.
What do you think about switching from a guaranteed payout like ghash or btcguild to a small low hash pool?
I thought about solo mining but that is a real gamble so maybe there is a pool out there looking to build some hashes.
What do you think about switching from a guaranteed payout like ghash or btcguild to a small low hash pool?
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