Hashrate and Mining Difficulty | Bitcointalksearch.org

mikeywith

legendary

Activity: 2394

Merit: 6581

be constructive or S.T.F.U

Quote from: A1rR0 on December 08, 2019, 04:13:33 AM

I see in the cgminer command window that the diff of bitcoin at the moment of posting this is 12.9T, does this mean I need at least 12.9T of hashpower to even consider playing the lottery or do miners with a lot less hashrate get to play the lottery?

You are confusing T with TH , the T that comes after 12.9T does not stand for terahash, the TH on your miner does , without going into much details think of the 12.9T as difficulty point and simply don't pay much attention to it , you can solo mine with any mining gear you have regardless of it's hashrate.

Below is a website made by someone in this forum (forgot who he was but) , you can use it to estimate your chances of finding a block, luck is still your main point of strength when solo mining , but it's good to know the probabilities.

http://solochance.com/

Biffa

legendary

Activity: 3234

Merit: 1220

Its all random luck whether you hit a block or not. Probability may play a part, but really its just luck.

Just like the lottery, there is as much of a chance as someone who bought one ticket winning the lottery as someone who buys 10,000 tickets.

Even if you extrapolate it out to pools with EH worth of hash power, sometimes they have unlucky streaks where they don't get the amount of blocks they would "expect" to get in a given time frame.

If you break it down, the biggest farms only hit a block with a single miner in that farm.

At the current network difficulty, a 20TH/s miner has an approximately 1 in 32006 chance of finding a block in a day

So in answer to your question, no you don't need the same amount of hash power as the current diff, yes there is a chance you luck would be better mining an "easier" coin.

Why don't you just try for a while, you have plenty of time while you wait.

A1rR0

newbie

Activity: 2

Merit: 0

Hello there,

I am new to the mining game since I got some NewPac's as a gift and since there is no other use for them other than Solo lottery mining... A question arrised. Ofcourse I am aware that the chances of hitting the Jackpot are one in 1 billion billions or whatever.

https://pbs.twimg.com/media/Bqqzzs7CAAA-KVH.jpg

I see in the cgminer command window that the diff of bitcoin at the moment of posting this is 12.9T, does this mean I need at least 12.9T of hashpower to even consider playing the lottery or do miners with a lot less hashrate get to play the lottery?

Was wondering because if it was not to be posible I could just switch to lower diff coins like Bitcoin SV or simmilar.

Thank you for your time!

Topic: Hashrate and Mining Difficulty (Read 222 times)