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Topic: NERDMINER: Bitcoin lottery miners - page 4. (Read 1530 times)

sr. member
Activity: 966
Merit: 306
September 20, 2023, 07:49:10 PM
#12
I didn't know there are other Bitcoin solo pool besides solo ckpool. Do you know how reliable is it compared with solo ckpool?
Some articles with reported found blocks by Solo mining pool ckpool.

Yet another solo Bitcoin miner solved a valid block, earning a reward worth over $220,000
Solo Bitcoin miner defies odds to mine valid BTC block, gets $150K block reward
Another Lucky Solo Miner Nabs $160,000 Bitcoin Block Reward

Solo CK pool's miners found 3 blocks according to three articles since 2022, maybe more I don't know but I see this information is very confusing.
Sincerely, I have no idea. I guess the pool hasn’t mined a single bitcoin so far.
Likely that pool has yet mined any Bitcoin block so far. There are 99 mining pools in this list, SoloCK is there but HAN is not.
legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 20, 2023, 05:02:46 AM
#11
While it's fun project, i find it's a shame ASIC chip isn't used in any way. By ASIC chip, i mean something like BM1387 (which used on Antminer S17 and GekkoScience Compac F).

For this, you can go to the Bitaxe project, who uses exactly that chip, or the S19’s chip in the Ultra version.
All the references are in OP.

I didn't know there are other Bitcoin solo pool besides solo ckpool. Do you know how reliable is it compared with solo ckpool?

Sincerely, I have no idea. I guess the pool hasn’t mined a single bitcoin so far.
But I think you can join other pools as well.

You forget to include actual link for Han Solo Mining.
That has been fixed, thanks.
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
September 20, 2023, 04:45:06 AM
#10
While it's fun project, i find it's a shame ASIC chip isn't used in any way. By ASIC chip, i mean something like BM1387 (which used on Antminer S17 and GekkoScience Compac F). Although on bright side, they can promote their device to altcoin (which can be mined with CPU) community such as Monero.

Once online, this is the Pool where the Nerdminers connect to:
https://web.public-pool.io/#/

I didn't know there are other Bitcoin solo pool besides solo ckpool. Do you know how reliable is it compared with solo ckpool?

Han Solo MiningWhere all this started. Valerio Vaccaro is still developing HanSolo miners. He is adding support to new boards and improving the current software. All this work might eventually be merged in the nerdminer code.

You forget to include actual link for Han Solo Mining.
legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 20, 2023, 01:16:18 AM
#9
Interesting little project that it's relative easy to make it, I know LILYGO T-Display is dirt cheap to buy and it's widely available on internet.
Code for nerdminer is open source and that is great, but I think this would be useful only if I had time machine to get back in past and actually mine some BTC Wink
 

Mixed feelings about this.
Of course, going back to 2010, when these devices could have been used to mine some bitcoin would be extremely useful, with or without a nerdminer.
But also, for the twofold reason I explained in the OP, these are useful gadgetry for at least the couple of reasons I outliner there.

legendary
Activity: 2212
Merit: 7064
September 18, 2023, 10:31:26 AM
#8
Interesting little project that it's relative easy to make it, I know LILYGO T-Display is dirt cheap to buy and it's widely available on internet.
Code for nerdminer is open source and that is great, but I think this would be useful only if I had time machine to get back in past and actually mine some BTC Wink
 
legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 17, 2023, 10:17:44 AM
#7
I added a small spreadsheet on the OP.
Clicking on that you can have a real time overview of how your nerdminer compares to the total hashpower, with associated silly statistics on how many times the universe-age period you have to wait to mine a block!
member
Activity: 116
Merit: 76
September 16, 2023, 12:11:49 PM
#6
Also bitaxe is not profitable, as it is orders or magnitude less efficient than a modern ASICs.
The only relevant difference is that the chip is an actual ASIC, not a generic chip as for the S3

Okay it is nice to have your confirmation and to know it is not profitable.
Because I was confused, when it says here it is for profitability by calling it efficient and competitive:



Also, it says "democratize Bitcoin mining" but it doesn't democratize Bitcoin mining at all because it's a marketing lie from BitAxe because it won't be bought by a large number of people to create hashpower due to lack of profitability?



legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 16, 2023, 11:24:25 AM
#5
Wow, interesting, is it an innovation from Italy?

I'm not Nerd and also not Miner at all but for professionals, it seems to be an really interesting opportunity to do research about mining and it's no need to organize an expencive miner from China to study it because your described veariant is all meant to address it if a professional wants to do a research or a study. Maybe your topic will have better audience in experts section of Bitcointalk like "Development & Technical Discussion".
For an innovation viewpoint, it's an attractive consideration even when it's not economically intended to generate much coin. But if I understand your post correctly, it is not intended to engage in profit, just educational and innovalive purpose, while BitAxe is intended to generate a profit of mined coin?

Thanks for the suggestion.
I will abide to moderators about the more correct board where to post this.

Regarding profitability, you are right, Nerdminer is not profitable, and all the "profit" comes from the knowledge, not the sats.

I will add some excel computation later.

Also bitaxe is not profitable, as it is orders or magnitude less efficient than a modern ASICs.
The only relevant difference is that the chip is an actual ASIC, not a generic chip as for the S3
member
Activity: 116
Merit: 76
September 16, 2023, 11:09:41 AM
#4
Wow, interesting, is it an innovation from Italy?

I'm not Nerd and also not Miner at all but for professionals, it seems to be an really interesting opportunity to do research about mining and it's no need to organize an expencive miner from China to study it because your described veariant is all meant to address it if a professional wants to do a research or a study. Maybe your topic will have better audience in experts section of Bitcointalk like "Development & Technical Discussion".
For an innovation viewpoint, it's an attractive consideration even when it's not economically intended to generate much coin. But if I understand your post correctly, it is not intended to engage in profit, just educational and innovalive purpose, while BitAxe is intended to generate a profit of mined coin?
legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 16, 2023, 04:22:39 AM
#3
I know it is a lottery ticket with costly initial spending than simply buying a lottery ticket. I wonder more that why Nerdminers don't simply do solo mining because if they get superb luckiness, find a Bitcoin block, they can enjoy all the block reward, 6.25 BTC. Joining a mining pool and with their super small hashrate, they will not receive much rewards proportionally. The odds is not to compete with other miners with bigger hash rate but how to solve Bitcoin puzzle with very less powerful hash rate and face with very high difficulty on the Bitcoin network.


This is not how public pool works.
You get the whole coin if you mine. And basically you get nothing if other in the pool mine something:

According to this article [1], Nerdminer is about 10 million times less powerful than BitAxe miner.
Bitcoin – Are Nerdminer and BitAxe profitable?

Thank you for this reference. I will add it to the OP.
sr. member
Activity: 966
Merit: 306
September 15, 2023, 11:17:11 PM
#2
I know it is a lottery ticket with costly initial spending than simply buying a lottery ticket. I wonder more that why Nerdminers don't simply do solo mining because if they get superb luckiness, find a Bitcoin block, they can enjoy all the block reward, 6.25 BTC. Joining a mining pool and with their super small hashrate, they will not receive much rewards proportionally. The odds is not to compete with other miners with bigger hash rate but how to solve Bitcoin puzzle with very less powerful hash rate and face with very high difficulty on the Bitcoin network.

According to this article [1], Nerdminer is about 10 million times less powerful than BitAxe miner.

Bitcoin – Are Nerdminer and BitAxe profitable?
legendary
Activity: 2436
Merit: 17577
Fully fledged Merit Cycler - Golden Feather 22-23
September 15, 2023, 04:13:22 PM
#1
What is this thing?



Topics:


1. Disclaimer

Before even starting to read this thread, read carefully the following statement:
VERY IMPORTANT DISCLAIMER
This is a non-profit project. That is a no profit for the user. With such a setup, you won't probably mine a single satoshi in your lifetime. This is NOT for economic profit. The total loss of monetary funds invested in this project is almost inevitable.


2. What is NerdMiner

NerdMiner is a project that originated from Valerio Vaccaro's idea of HanSolo mining.
Valerio is the ideator of "Satoshi Spritz", a format for informal local meetups of bitcoiners that is now spread all over Italy in more than 20 instances.
During these meetups, typically held in Bitcoin-friendly pubs, Valerio presented some gadgetry: Bitcoin nodes, LN nodes, and LN ATMs, but a proper mining device was missing. So, he decided to close that gap and started coding. He used some commodity programmable board and assembled the very first instance of his portable mining device. As he is, of course, an übernerd, he dubbed his device HanSolo Miner.
That was essential software with an uncanny graphical interface and limited features.

Bitmaker discovered the project and, in the spirit of pure Open-Source Software, forked it, rebranded NerdMiner, and added a friendly graphical interface and a few more features.

NerdMiner can run on a variety of boards, but the most common one is the Lilygo S3:



The following is the full list of boards capable of running firmware 1.61.
  • -- LILYGO T-Display S3
  • -- ESP32-WROOM-32, ESP32-Devkit1..
  • -- LILYGO T-QT
  • -- LILYGO T-Display 1.14
  • -- LILYGO T-Display S3 AMOLED
  • -- LILYGO T-Dongle S3
  • -- ESP32-2432S028R 2,8"

The latest release of the firmware added support to other boards, and many more are coming.


This board has a power consumption of less than 2W, meaning that you can power it for a whole year for way less than 5 EUR.
With the latest firmware, the total hash power of this device is 55Kh/s maximum (peak value, not sustained).
This means that the NerdMiner has an efficiency ratio of 36,360 J/GHs. An S19 XP Hydro has an efficiency of 0.021J/GHs. The NerdMiner is 1,500,000 times less efficient than a S19 miner.


Once online, this is the Pool where the NerdMiners connect to:
https://web.public-pool.io/#/



Many pools would reject NerdMiners or similar low hash power devices because of the too-low hash rate. Publicpool will accept even the smallest mining machine without any fees. Only miners above 50 TH/s will incur in a 1.5% mining pool.

Please note that the 4,500 NerdMiners have a hash power 10^-10 times of a single Antminer. This means that it would take 2,750,000,000 S3 NerdMiners to make a single S19. Imagine giving every person on planet Earth 1 NerdMiner: this would equal hash power to just three S19.
Remember that the Bitcoin network is currently powered by 2.5 million equivalent of those machines. This means that a single S19 is expected to mine a block a block every 46 years.

If 2,500,000 S19 are able to find a block every 10 minutes on average, a single S3 NerdMiner will take 125,570,776,256 years (basically 10 times the age of the universe) to find a block.
This should persuade you that you won't mine anything during your lifetime with this setup.

If you want to further deep-dive into this, I suggest you to read the following link:
 
Bitcoin – Are NerdMiner and BitAxe profitable?

In addition to that, I worked on an Excel spreadsheet:




3. Why it is relevant

Why all this fuss if the prospected earning is null? Why lose money and time if the Pool won't mine a block in our entire lifetime?
Well, the reason is twofold:

Learning
Bitcoin mining is a capital-intensive, ultra-competitive industry. Many users wouldn't consider participating in this part of the Bitcoin protocol.
With NerdMiner, you can mine in production with a little initial and running cost. This will allow you to deal with the actual and fundamental dynamics of mining: running the hardware, managing the pools, interacting with mining protocols, etc. The learning curve is steep, but this device can allow you to practically learn something that would otherwise be extremely difficult.
In addition to that you will learn something about the basic mining operations, temperature management, compiling firmwares etc.
In this project Learning something new vastly overcomes the financial aspect of the whole project.

Bitcoin canary in the mine
Bitcoin is an open-source and distributed technology. As long as every user can run the network's primary function in an open-source, affordable manner, the assumptions of the Bitcoin technology will be maintained valid.  

My personal DIY setup for basic Bitcoin Protocol Functions (credit card for reference)
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