solo mining ltc, is luck still involved?

PenAndPaper

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Quote from: rocketron on December 08, 2013, 02:16:57 PM

hi all,

I am currently mining ltc in a pool with 1500 hashes,

i was thinking on takeing a gamble and solo mine for a few weeks,

I am just wondering if a block can still be found with the hashes i have, im not taking probability here but all i want to know is it still possible to find one even if the chances are very low.

Yes a block can be found with your 1500 hashes but on average it will take years.

shtako

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Quote from: rocketron on December 08, 2013, 02:55:07 PM

well thats very true, however im going to take the gamble.

heat issues are not a problem for me, as I have the gpus watercooled and connected to a 1080 rad and a water chiller.

Good luck then. Hope you do well

rocketron

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well thats very true, however im going to take the gamble.

heat issues are not a problem for me, as I have the gpus watercooled and connected to a 1080 rad and a water chiller.

shtako

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Quote from: rocketron on December 08, 2013, 02:48:27 PM

this is what most people say, its an impossibility, but then you do hear of people willing to take a risk, and they hit blocks against all odds Cheesy

Its not impossible to hit blocks. But solo mining with that hashrate is not smart because of the huge variance. You might find 2 blocks the first week, but on the other hand you might not find a block the first 200 days. Your rig might burn after 100 days without a single block. Its just gambling to solo mine.

rocketron

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this is what most people say, its an impossibility, but then you do hear of people willing to take a risk, and they hit blocks against all odds Cheesy

at current diff my expected block time is 73 days,

if i could get one in half that, that would be great, at current diff pool mining would be under 20 ltc,

its risky but i think its still a possibility,

to anyone who is intrested in how i get on, watch this thread and see if i can become one of those odds beating solos

INSeed

newbie

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Quote from: shtako on December 08, 2013, 02:31:17 PM

Quote from: rocketron on December 08, 2013, 02:27:30 PM

cheers guys, i feel like taking a gamble haha,

does time come into account with finding a block, eg is it possible to find one after a day, or a week, or will it technically take day 30 days etc..

Time don't matter. I would advice against solo mining with that hashrate. The variance is to high. If you want to gamble sports betting is more fun.

+1
You can also buy a lottery ticket, you might have more luck and rewards

shtako

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Activity: 779

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Quote from: rocketron on December 08, 2013, 02:27:30 PM

cheers guys, i feel like taking a gamble haha,

does time come into account with finding a block, eg is it possible to find one after a day, or a week, or will it technically take day 30 days etc..

Time don't matter. I would advice against solo mining with that hashrate. The variance is to high. If you want to gamble sports betting is more fun.

miffman

legendary

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PGP ID: 78B7B84D

Quote from: rocketron on December 08, 2013, 02:27:30 PM

cheers guys, i feel like taking a gamble haha,

does time come into account with finding a block, eg is it possible to find one after a day, or a week, or will it technically take day 30 days etc..

I think your probability gets higher as time goes, but difficulty spikes don't help with that

rocketron

sr. member

Activity: 616

Merit: 300

cheers guys, i feel like taking a gamble haha,

does time come into account with finding a block, eg is it possible to find one after a day, or a week, or will it technically take day 30 days etc..

Amph

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u can do it, last week i found a block with my cpu, mining primcoin, in only 20 hours

miffman

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PGP ID: 78B7B84D

1.5khash will take pretty long no doubt, but there is always that slight chance

Boxman90

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I once oblitterated a 54M block with a hash of 1.something Billion

So yes, it is certainly possible, with any miner. It'll just statistically take longer and longer as the difficulty grows.

rocketron

sr. member

Activity: 616

Merit: 300

hi all,

I am currently mining ltc in a pool with 1500 hashes,

i was thinking on takeing a gamble and solo mine for a few weeks,

I am just wondering if a block can still be found with the hashes i have, im not taking probability here but all i want to know is it still possible to find one even if the chances are very low.

Topic: solo mining ltc, is luck still involved? (Read 2433 times)