Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4186. (Read 26714021 times)
January 13, 2022, 11:01:26 PM
January 13, 2022, 10:34:19 PM
No sell, wait for $1M per one bitcoin hopefully hitting the place
January 13, 2022, 10:06:17 PM
my cost to get the 296 = 50% or I net 148 a day very sure very steady subject to price of btc and the difficulty.
How are you coming up with a specific daily dollar amount number if it changes every day based on BTC price and difficulty? Are you averaging it out over a period of time, or are you picking a mode amount from your recent daily payments? I know getting into more of your business than you have already disclosed.
Can you choose whether to get paid in BTC or dollars or in some other way?
Okay my main farm is on viabtc
todays $ per th of btc is .2284 cents it moves around but it is very stable about 3% under 6.25 so they pay about 6.06 per block todays rate was 97.28 which is 6.08 per block
I take my btc earnings in btc. I have
BTC
ETH
Doge/LTC
gear.
I take all payment as the coin they mine
I sell all the Eth
I hodl the btc
I sell the Doge/LTC
Some of the sales for for gear
Some of the sales go for more btc.
most miners that play a bit of solo
of a small pool where they may get .75 btc on a block hit calculated the math daily
Most of us have 1 or 2 or 3 % of the gear solo mining and 99 or 98 or 97 % on a steady pool
So viabtc for me is high cost low risk low yield investment ie the odds say I should turn a profit
and solo mining
or small little pools are
low cost high risk high yield
in theory they should both do the same profit over long times.
as the. {low cost x high risk x high yield} should equal {high cost x low risk x low yield} over proper time duration
Better way to illustrate is sept 2011 to oct 2021 = zero hits for mmpool. My hash spent in that time was or would have earned .6 btc I had 0 btc
I look stupid.
But block in oct block in nov block in dec
I grabbed 1.3 btc should have had about .65 btc I look smart.
Truth is normal luck I would have hit 1 block at .7 btc share from sept 2017 to dec 2021 and would have earned .65 if I mine at viabtc.
So I have very good luck and got 2x normal luck. from 2017 to 2021
plus prices were 4k back in 2017 and grew to 67k by the third hit in 2021.
January 13, 2022, 10:01:35 PM
January 13, 2022, 09:26:16 PM
Run a miner without running a node? I find that odd, but ok I guess.
Makes sense - even for solo mining - instead of having each miner host their own nodes and worry about connection latency, outsource the hassle to professionals. For a tidy 2% fee.
January 13, 2022, 09:01:29 PM
January 13, 2022, 08:23:24 PM
Run a miner without running a node? I find that odd, but ok I guess.
Not at all. When you're mining with a pool, all you're doing is hashing.
January 13, 2022, 08:01:26 PM
January 13, 2022, 07:58:52 PM
If you're talking about solo.ckpool.org, that's a solo pool so the entire premise is that each miner mines individually for themselves, the pool just facilitates the logistics.
Run a miner without running a node? I find that odd, but ok I guess.
January 13, 2022, 07:50:58 PM
I used to mine and the most important formula for me in determining whether I could be profitable or not was:
[216-1]/[248D] which (since we're working with such large numbers) you can boil down to
1/232D
where D is the current difficulty 24371874614345 (you can find it here: https://chainquery.com/bitcoin-cli/getdifficulty).
That formula gives you the probability of any computed hash leading to a valid block.
1/104,676,404,410,824,387,461,120
So for a single 110TH miner the probabilty of a block in one second is
1/951,603,676
Solo pools don't share the reward among all the miners but they still pool their resources to work on the same block. In this case, only the miner who finds it gets the reward but the combined hashrate of all participants would be used.
CK solo pool (https://solo.ckpool.org/pool/) has about 2000 users with about 13,000 devices and shows a hashrate of 37.6 PH/s so the probability of a valid block in one second is
1/2,783,947
which indicates they should solve about one block every month.
Of course, the hashrate fluctuates as users come and go and difficulty changes ~every 2 weeks but finding 2 blocks in a month with their current hashrate is pretty lucky. However, if you look back at their previous history, they have been rather unlucky; finding only 4 blocks in all of 2020 and only 2 in 2019. You can't cheat at hashing bitcoin - it all comes out in the wash. It's normal distribution but very exciting for CK I'm sure.
[216-1]/[248D] which (since we're working with such large numbers) you can boil down to
1/232D
where D is the current difficulty 24371874614345 (you can find it here: https://chainquery.com/bitcoin-cli/getdifficulty).
That formula gives you the probability of any computed hash leading to a valid block.
1/104,676,404,410,824,387,461,120
So for a single 110TH miner the probabilty of a block in one second is
1/951,603,676
Solo pools don't share the reward among all the miners but they still pool their resources to work on the same block. In this case, only the miner who finds it gets the reward but the combined hashrate of all participants would be used.
CK solo pool (https://solo.ckpool.org/pool/) has about 2000 users with about 13,000 devices and shows a hashrate of 37.6 PH/s so the probability of a valid block in one second is
1/2,783,947
which indicates they should solve about one block every month.
Of course, the hashrate fluctuates as users come and go and difficulty changes ~every 2 weeks but finding 2 blocks in a month with their current hashrate is pretty lucky. However, if you look back at their previous history, they have been rather unlucky; finding only 4 blocks in all of 2020 and only 2 in 2019. You can't cheat at hashing bitcoin - it all comes out in the wash. It's normal distribution but very exciting for CK I'm sure.
110th "right now" would give you about 0.165 BTC/year equivalent or 0.01375 btc/mo.
calculation: [110/219018363]X144x365x6.25=0.164986166 btc/year
the lucky "guy" got 37.87 years worth of mining value.
January 13, 2022, 07:04:54 PM
Isn't that days when you divide by the number of seconds per hour 3600 and then the number of hours per day 24?
edit: It is 32 days which is, as I was saying, about a month. With their current hashrate, the CK pool should make about 0.19 BTC per day on average.
edit: It is 32 days which is, as I was saying, about a month. With their current hashrate, the CK pool should make about 0.19 BTC per day on average.
Sorry, you're right, I don't even know what I was looking at to mangle it so badly.
January 13, 2022, 07:01:36 PM
January 13, 2022, 06:46:17 PM
January 13, 2022, 06:45:45 PM
January 13, 2022, 06:01:26 PM
January 13, 2022, 05:46:40 PM
1/2,783,947
which indicates they should solve about one block every month.
which indicates they should solve about one block every month.
Every 32 hours actually (2,783,947 / 3600 / 24).
However their hashrate was much lower (like an order of magnitude lower) before the recent two blocks so it seems that fillippone had a point here:
Funnily enough I thought miners being the most rational agents, not easily fooled.
Not particularly rational if they start solo mining after someone else won a solo block.
Isn't that days when you divide by the number of seconds per hour 3600 and then the number of hours per day 24?
edit: It is 32 days which is, as I was saying, about a month. With their current hashrate, the CK pool should make about 0.19 BTC per day on average.
January 13, 2022, 05:42:59 PM
1/2,783,947
which indicates they should solve about one block every month.
which indicates they should solve about one block every month.
However their hashrate was much lower (like an order of magnitude lower) before the recent two blocks so it seems that fillippone had a point here:
Funnily enough I thought miners being the most rational agents, not easily fooled.
Not particularly rational if they start solo mining after someone else won a solo block.
January 13, 2022, 05:29:03 PM
I used to mine and the most important formula for me in determining whether I could be profitable or not was:
[216-1]/[248D] which (since we're working with such large numbers) you can boil down to
1/232D
where D is the current difficulty 24371874614345 (you can find it here: https://chainquery.com/bitcoin-cli/getdifficulty).
That formula gives you the probability of any computed hash leading to a valid block.
1/104,676,404,410,824,387,461,120
So for a single 110TH miner the probabilty of a block in one second is
1/951,603,676
Solo pools don't share the reward among all the miners but they still pool their resources to work on the same block. In this case, only the miner who finds it gets the reward but the combined hashrate of all participants would be used.
CK solo pool (https://solo.ckpool.org/pool/) has about 2000 users with about 13,000 devices and shows a hashrate of 37.6 PH/s so the probability of a valid block in one second is
1/2,783,947
which indicates they should solve about one block every month.
Of course, the hashrate fluctuates as users come and go and difficulty changes ~every 2 weeks but finding 2 blocks in a month with their current hashrate is pretty lucky. However, if you look back at their previous history, they have been rather unlucky; finding only 4 blocks in all of 2020 and only 2 in 2019. You can't cheat at hashing bitcoin - it all comes out in the wash. It's normal distribution but very exciting for CK I'm sure.
[216-1]/[248D] which (since we're working with such large numbers) you can boil down to
1/232D
where D is the current difficulty 24371874614345 (you can find it here: https://chainquery.com/bitcoin-cli/getdifficulty).
That formula gives you the probability of any computed hash leading to a valid block.
1/104,676,404,410,824,387,461,120
So for a single 110TH miner the probabilty of a block in one second is
1/951,603,676
Solo pools don't share the reward among all the miners but they still pool their resources to work on the same block. In this case, only the miner who finds it gets the reward but the combined hashrate of all participants would be used.
CK solo pool (https://solo.ckpool.org/pool/) has about 2000 users with about 13,000 devices and shows a hashrate of 37.6 PH/s so the probability of a valid block in one second is
1/2,783,947
which indicates they should solve about one block every month.
Of course, the hashrate fluctuates as users come and go and difficulty changes ~every 2 weeks but finding 2 blocks in a month with their current hashrate is pretty lucky. However, if you look back at their previous history, they have been rather unlucky; finding only 4 blocks in all of 2020 and only 2 in 2019. You can't cheat at hashing bitcoin - it all comes out in the wash. It's normal distribution but very exciting for CK I'm sure.
January 13, 2022, 05:01:26 PM
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