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Topic: How often does a solo miner solve a block (Read 467 times)
- snip -
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
My deal is 1/2 the coins.
So when price and profit is low I get half the coins. Good for me
And when price + profit is high I get half the coins. Good for the warehouse owner.
So you own the hardware and the warehouse owner gives you space and power in exchange for half the gross profit?
Yes. He has a complex with 7 large buildings. He made a deal for multiple megawatts for five year.
He then lost an icecream company that burned lots of power for the freezers.
This left him with an excess amount of paid for power.
So the deal works for him and for us.
- snip -
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
My deal is 1/2 the coins.
So when price and profit is low I get half the coins. Good for me
And when price + profit is high I get half the coins. Good for the warehouse owner.
So you own the hardware and the warehouse owner gives you space and power in exchange for half the gross profit?
As the OP said, it's all random luck.
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
I skimmed the rest of the thread but didn't see anyone reply asking what I wanted to ask, so I'll go ahead and ask even though it's been six weeks since you posted this.
How does your total income at pools to date compare with what you would've earned had you mined these blocks solo?
I have 1200th.
assuming flat difficulty which is not true over a long time
I make
0.007 per day
0.070 in ten days
0.700 in 100 days
7.000 in 1000 days
so a block in three years would be “normal”
a block in three months would be very lucky.
a block in 30 years would be very unlucky.
All on the assumption of flat difficulty.
which has not lasted more than a year or so. since mining began.
I am fairly certain no 2 years have passed without diff rising .
I cant mine 1200th for more than 100 days with no income from it.
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
My deal is 1/2 the coins.
So when price and profit is low I get half the coins. Good for me
And when price + profit is high I get half the coins. Good for the warehouse owner.
As the OP said, it's all random luck.
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
I skimmed the rest of the thread but didn't see anyone reply asking what I wanted to ask, so I'll go ahead and ask even though it's been six weeks since you posted this.
How does your total income at pools to date compare with what you would've earned had you mined these blocks solo?
I have 1200th.
assuming flat difficulty which is not true over a long time
I make
0.007 per day
0.070 in ten days
0.700 in 100 days
7.000 in 1000 days
so a block in three years would be “normal”
a block in three months would be very lucky.
a block in 30 years would be very unlucky.
All on the assumption of flat difficulty.
which has not lasted more than a year or so. since mining began.
I am fairly certain no 2 years have passed without diff rising .
I cant mine 1200th for more than 100 days with no income from it.
That makes things a bit easier to visualize, thanks. If you don't mind me asking... how much DOES it cost you to mine 1200TH? Roughly.
...
assuming flat difficulty which is not trueover a long time after two weeks
...
fixed that for you ... assuming flat difficulty which is not true
...
As the OP said, it's all random luck.
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
I skimmed the rest of the thread but didn't see anyone reply asking what I wanted to ask, so I'll go ahead and ask even though it's been six weeks since you posted this.
How does your total income at pools to date compare with what you would've earned had you mined these blocks solo?
I have 1200th.
assuming flat difficulty which is not true over a long time
I make
0.007 per day
0.070 in ten days
0.700 in 100 days
7.000 in 1000 days
so a block in three years would be “normal”
a block in three months would be very lucky.
a block in 30 years would be very unlucky.
All on the assumption of flat difficulty.
which has not lasted more than a year or so. since mining began.
I am fairly certain no 2 years have passed without diff rising .
I cant mine 1200th for more than 100 days with no income from it.
Can't say I've ever bothered to do the math, mainly depends on how many coins the reward was back then. Currently is 6.25BTC+fees, back then might have been 12.5BTC+fees. Do remember that I've been running a total of several hundred THs. Those miners that found blocks were part of that farm.
I CAN say that running solo that long with no income from others in the pool finding blocks would have been - very expensive. I may be patient but not that much.
I CAN say that running solo that long with no income from others in the pool finding blocks would have been - very expensive. I may be patient but not that much.
As the OP said, it's all random luck.
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
Remember, no matter what the size of your farm, only 1 machine in the world finds a block. We can only hope that it is one of ours.
I've been on KanoPool since late 2014 and to-date have found 10 blocks for the pool. The last one (block #608428) was found on 2019‑12‑16 by one of my A841's in a 60THs cluster, one before that (#570025) found on 2019‑04‑03 by a M10 and another (#566019) found on 2019‑03‑07 by a 8-9THs R4. That same R4 also found a block (#543875) on 2018‑10‑01.
Point is that individual miners CAN and DO find blocks. Yes I would have LOVED to have hit those running solo but knowing how the Fates can work I prefer to think it would not have happened...
I skimmed the rest of the thread but didn't see anyone reply asking what I wanted to ask, so I'll go ahead and ask even though it's been six weeks since you posted this.
How does your total income at pools to date compare with what you would've earned had you mined these blocks solo?
but a home user with USB sticks in his pc.. or a couple asics in their basement working alone. forget it
I've watched some pretty recent videos on Youtube about USB stick mining, and even if you're mining in a pool with a bunch of Moonlanders, you're still going to earn next to nothing. The video makers usually say that the USB devices "are great for learning about mining" but the only thing I think they're good for is learning how to lose money.It's been said here many times: mining bitcoin solo is like playing the lottery, though I think the odds of discovering a block are even less than winning Lotto. You can try it of course, but you're basically just wasting your time and electricity.
idk but my plan was to build a USB mining rig with a couple of super old bitcoin block erupters (for luck/look, not performance lmfao) and a handful of OC'd newpacs and point em to ckpool as a "lotto miner" / art piece.
no idea how to set that up, i never really was a lotto player but idk i feel like this would be fun just to tinker around. and it does help decentralize the network lol
They look super cool, but if you think about that setup with the logical part of your brain (and not the gambling one), you'll realize it's not worth it to do. You'll get sick of getting nothing every day, just like all the other people who've tried it and ended up selling those block eruptors and Moonlanders on eBay.no idea how to set that up, i never really was a lotto player but idk i feel like this would be fun just to tinker around. and it does help decentralize the network lol
It would be much more rational to mine an altcoin with a GPU or even a CPU and then sell the proceeds for bitcoin.
I know its a long shot, but I was curious how often a solo miner solves a block? Probably not a topic that would freely come up by the person solving it for anonymous purposes.
I was just doing some quick math and the odds are way up there-
For example, assume there are 170,000,000 TH/s out there right now. If you had 5 newpac usb sticks overclocked to 100GH/s, that would be .5 TH/s. Take the 170m and divide by the .5 and that is 340,000,000 blocks before you theoretically would ever solve one. Divide that by 144 per day and we are talking 2.3 million days or ~6500 years.
Having said that, you have the same odds as anyone else, you could solve a block on the first try, or get 10 in a row, or never.
It is said that the large pools such as slushpool represent about 15% of all bitcoins mined per pool. But how often do you think a solo miner solves a block on their own? Any good stories or discussions on the topic?
I was just doing some quick math and the odds are way up there-
For example, assume there are 170,000,000 TH/s out there right now. If you had 5 newpac usb sticks overclocked to 100GH/s, that would be .5 TH/s. Take the 170m and divide by the .5 and that is 340,000,000 blocks before you theoretically would ever solve one. Divide that by 144 per day and we are talking 2.3 million days or ~6500 years.
Having said that, you have the same odds as anyone else, you could solve a block on the first try, or get 10 in a row, or never.
It is said that the large pools such as slushpool represent about 15% of all bitcoins mined per pool. But how often do you think a solo miner solves a block on their own? Any good stories or discussions on the topic?
1 BTC per month during (this/next) difficulty?
needs 5.71 PH/s - 0.175219 - 4.80 PH/s
my stolen account lowbander80 was legentary
mining since 2013
1JgddX4AWtLxn9G3hMFzR99CVcZk2U66mQ
Code:
tb@ubuntu:~/bitcoin-0.21.0/bin$ ./bitcoin-cli -netinfo
Bitcoin Core v0.21.0 - 70016/Satoshi:0.21.0/
ipv4 ipv6 onion total block-relay
in 73 0 0 73 9
out 10 0 0 10 2
total 83 0 0 83 11
Local addresses: n/a
What does block-relay mean in this context?
How many transactions/blocks you have relayed to or have been relayed by other clients.
Code:
tb@ubuntu:~/bitcoin-0.21.0/bin$ ./bitcoin-cli -netinfo
Bitcoin Core v0.21.0 - 70016/Satoshi:0.21.0/
ipv4 ipv6 onion total block-relay
in 73 0 0 73 9
out 10 0 0 10 2
total 83 0 0 83 11
Local addresses: n/a
What does block-relay mean in this context?
idk but my plan was to build a USB mining rig with a couple of super old bitcoin block erupters (for luck/look, not performance lmfao) and a handful of OC'd newpacs and point em to ckpool as a "lotto miner" / art piece.
no idea how to set that up, i never really was a lotto player but idk i feel like this would be fun just to tinker around. and it does help decentralize the network lol
no idea how to set that up, i never really was a lotto player but idk i feel like this would be fun just to tinker around. and it does help decentralize the network lol
...
To answer your original question about connections, you want as many connections as possible. Also, getting on a relay network will help. You want to be mining on the latest block as soon as possible and you want the major miners to start mining your block immediately. Read this: https://galaxsis.com/posts/bitcoin_relays_part_1/
Alas, this link misses the main issue that Matt shut down the public relay and there are no available replacements for the general public that use the FIBRE code that is much faster than any other public relay. To answer your original question about connections, you want as many connections as possible. Also, getting on a relay network will help. You want to be mining on the latest block as soon as possible and you want the major miners to start mining your block immediately. Read this: https://galaxsis.com/posts/bitcoin_relays_part_1/
I am solo mining with my own blockchain and wallet hosted by me, I have opened the firewall to allow inbound connections, not just outbound, I figured it may be relevant in the off chance of success.
To answer your original question about connections, you want as many connections as possible. Also, getting on a relay network will help. You want to be mining on the latest block as soon as possible and you want the major miners to start mining your block immediately. Read this: https://galaxsis.com/posts/bitcoin_relays_part_1/
Does the number of inbound and outbound network connections to your blockchain play any role in who is awarded the block? For example, if a solo miner solves a block and then say 1 second later a large pool solves the same block before all the nodes record the block in the blockchain? Who wins?
That's called an Orphan race. Which found block is confirmed first wins. So yes, connections matter but not how exactly many you have but rather how fast of a connection they have to the Bitcoin network so their found block is available to be confirmed.If by "confirmed" you mean another block follows it, then yes. The block that is first to have the next block built on top of it wins. Of course, the earlier block has a head start, but it is not guaranteed because the chain follows the longest branch, and the later branch could get lucky. And, if the next blocks are produced at about the same time, then it is the next block that determines the winning branch. And so on ...
I am solo mining with my own blockchain and wallet hosted by me, I have opened the firewall to allow inbound connections, not just outbound, I figured it may be relevant in the off chance of success.
Does the number of inbound and outbound network connections to your blockchain play any role in who is awarded the block? For example, if a solo miner solves a block and then say 1 second later a large pool solves the same block before all the nodes record the block in the blockchain? Who wins?
That's called an Orphan race. Which found block is confirmed first wins. So yes, connections matter but not how exactly many you have but rather how fast of a connection they have to the Bitcoin network so their found block is available to be confirmed.If by "confirmed" you mean another block follows it, then yes. The block that is first to have the next block built on top of it wins. Of course, the earlier block has a head start, but it is not guaranteed because the chain follows the longest branch, and the later branch could get lucky. And, if the next blocks are produced at about the same time, then it is the next block that determines the winning branch. And so on ...
To easily calculate your chances use this website > http://solochance.com/.
This is the last block solved on CKsolo
And there it is! It's nice to have confirmation everything's working perfectly fine on the pool, and to finally break through that 8 bit barrier for our 256th block! Congratulations to the miner, and all the people who contributed to help keep the pool alive. And only a 50TH miner!
https://btc.com/0000000000000000000a7292ccf3210d10e809b41ebfebd0c1c3f7c0f230877d
The miner was lucky to solve a block with 77.7th being his 7d average, of course, we don't know for how long it was, but he most certainly earned more than we could ever earn mining on a pool.
But not everyone is lucky enough, solo mining should be done for fun (I do it for fun on Cksolo), but your main hash power should be pointed towards a pool if you want to make some profit.
But how often do you think a solo miner solves a block on their own? Any good stories or discussions on the topic?
This is the last block solved on CKsolo
Looks like a block hit!!!
And there it is! It's nice to have confirmation everything's working perfectly fine on the pool, and to finally break through that 8 bit barrier for our 256th block! Congratulations to the miner, and all the people who contributed to help keep the pool alive. And only a 50TH miner!
Code:
[2020-06-03 21:30:14.977] Possible block solve diff 26941303407284.085938 !
[2020-06-03 21:30:15.042] BLOCK ACCEPTED!
[2020-06-03 21:30:15.043] Solved and confirmed block 632928 by 1JfDwdSURAxgWqbQRQz4sY12wniGY3Sxtj.18
[2020-06-03 21:30:15.043] User 1JfDwdSURAxgWqbQRQz4sY12wniGY3Sxtj:{"hashrate1m": "49.1T", "hashrate5m": "52.9T", "hashrate1hr": "55.2T", "hashrate1d": "77.1T", "hashrate7d": "77.7T"}
[2020-06-03 21:30:15.043] Worker 1JfDwdSURAxgWqbQRQz4sY12wniGY3Sxtj.18:{"hashrate1m": "11.4T", "hashrate5m": "12.4T", "hashrate1hr": "12.7T", "hashrate1d": "13.6T", "hashrate7d": "13.5T"}
[2020-06-03 21:30:15.046] Block solved after 22464198046703 shares at 148.4% diff
https://btc.com/0000000000000000000a7292ccf3210d10e809b41ebfebd0c1c3f7c0f230877d
The miner was lucky to solve a block with 77.7th being his 7d average, of course, we don't know for how long it was, but he most certainly earned more than we could ever earn mining on a pool.
But not everyone is lucky enough, solo mining should be done for fun (I do it for fun on Cksolo), but your main hash power should be pointed towards a pool if you want to make some profit.
Does the number of inbound and outbound network connections to your blockchain play any role in who is awarded the block? For example, if a solo miner solves a block and then say 1 second later a large pool solves the same block before all the nodes record the block in the blockchain? Who wins?
That's called an Orphan race. Which found block is confirmed first wins. So yes, connections matter but not how exactly many you have but rather how fast of a connection they have to the Bitcoin network so their found block is available to be confirmed and have the next block built on it. Jump to: