Question about mining? | Bitcointalksearch.org

johnsjt

newbie

Activity: 8

Merit: 0

Good luck. I have a mining rig setup at a friends house who doesn't pay for electricity either. Reply back when you start solving and let us know

AncientX

member

Activity: 77

Merit: 10

Very very cool.
=D all i need now is to sell some of my coins and purchase the right equipment to make a mining rig.

i dont pay for electricity, so its gonna be nice to make money for doing nothing.

tarrant_01

hero member

Activity: 546

Merit: 500

It could take anywhere from 5 minutes(best luck at any hash rate) to 3 months(worst luck...might be longer) to solve a block solo.

AncientX

member

Activity: 77

Merit: 10

And say im solo running a " Decent " mining rig

How long does it take for a block to be solved, and how much would i profit from ? ( i know time varies for every rig, but just give me an estimate )

tarrant_01

hero member

Activity: 546

Merit: 500

You just point the mining software at a pool or you can try your luck to solo mine. When a block gets solved, you get BTC based on the amount of shares you've submitted to the pool. The amount you get is either proportional ( shares submitted / total shares * block reward - fees) or pay-per-share. The price per share submitted is determined by the pool. If you solo mine, you get the whole reward from the block.

AncientX

member

Activity: 77

Merit: 10

I've watched quite a few videos, and read several in depth tutorials....but i guess im just not getting it....

How does mining earn you BTC?...

I know its a silly question that i should know the answer to with all the research ive been doing on the topic the past week or so....but if someone could be
kind enough to just lay it out for me in simple english, i'd really appreciate it lol.

Topic: Question about mining? (Read 746 times)