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+--- Thread: Solo Mining Jackpot (/showthread.php?tid=6179595)
Solo Mining Jackpot - Omniscient - Nov 2, 2021
I am sure the majority of miners use pools to guarantee earnings. Anyone ever read or hear about someone just solo mining and solving a block in the past couple years? The Bitcoin block reward is 6.5 right now plus the transaction fees. That's $400k. Imagine you buy all your mining gear, stay out of pools, and after a year or two you finally get one block mined and collect it all.
Because the pools are public I wonder if it's possible to go down the transaction list and figure out how many blocks were independently mined in the past year.
Just an interesting thought I had while taking a shower.
RE: Solo Mining Jackpot - account_ - Nov 2, 2021
Assuming this is one https://www.blockchain.com/btc/address/3DPNFXGoe8QGiEXEApQ3QtHb8wM15VCQU3
edit looks like a group sorry.
RE: Solo Mining Jackpot - shreder - Nov 2, 2021
Latest miners with like 94th will have a 1 to 1.8m odds of mining a block assuming the network hashrate doesnt increase you'll get a block once every 36 years.
RE: Solo Mining Jackpot - Omniscient - Nov 2, 2021
(Nov 2, 2021 07:33 PM)shreder Wrote: Latest miners with like 94th will have a 1 to 1.8m odds of mining a block assuming the network hashrate doesnt increase you'll get a block once every 36 years.
But that's really not how it works. That's the odds BUT like the title says, it's a Jackpot. You could just by sheer luck solve a block in your first week. But even if it took 2-3 years that's one great payday.
RE: Solo Mining Jackpot - Lindros - Nov 2, 2021
It's risky because power costs can be substantial. What if you never receive a reward? I use Nicehash, so I think I'm technically selling my compute power to people through Nicehash I think? Either way my computers are primarily solving the Daggerhasimoto Ethereum algorithm.
I don't even know what the Ethereum block/reward would be.
RE: Solo Mining Jackpot - Swip3r - Nov 2, 2021
(Nov 2, 2021 09:34 PM)Lindros Wrote: It's risky because power costs can be substantial. What if you never receive a reward? I use Nicehash, so I think I'm technically selling my compute power to people through Nicehash I think? Either way my computers are primarily solving the Daggerhasimoto Ethereum algorithm.
I don't even know what the Ethereum block/reward would be.
If you manage to get industrial prices a month of mining is roughly $140-200/Mo depending where.
Could be possible, but it is a gamble.
RE: Solo Mining Jackpot - Lindros - Nov 2, 2021
(Nov 2, 2021 09:50 PM)Swip3r Wrote: If you manage to get industrial prices a month of mining is roughly $140-200/Mo depending where.
Could be possible, but it is a gamble.
$140-200 for what hardware/hashrates? Lol. I pay $40 a month for power just for like 194 MH/s DaggerHashimoto.
RE: Solo Mining Jackpot - Swip3r - Nov 2, 2021
(Nov 2, 2021 09:58 PM)Lindros Wrote: $140-200 for what hardware/hashrates? Lol. I pay $40 a month for power just for like 194 MH/s DaggerHashimoto.
Typical S19Js 90 TH/s run like 3k-3250 Watts
You can get rackspace at a dedicated facility for those prices.
RE: Solo Mining Jackpot - Dorrance - Nov 3, 2021
(Nov 2, 2021 09:58 PM)Lindros Wrote: $140-200 for what hardware/hashrates? Lol. I pay $40 a month for power just for like 194 MH/s DaggerHashimoto.
Based on your Kwhatts and location, preferably look at type of residence.
Ex. Residential, commercial, & industrial.
Remember when mining take into account cooling/fan system.
RE: Solo Mining Jackpot - Frukt - Nov 3, 2021
This is an interesting idea and someone I follow on YouTube recently made a video on it.
https://www.youtube.com/watch?v=FyRGkbu-LB8
He is using GekkoScience NewPac "USB" sticks to mine BTC very inefficiently. (Spoiler) In the end, he decides to let them run and just be a jackpot hunter and not participating in the pool due to the low efficiency.
I was thinking about buying 1-2 and leaving them on in the basement forever and forgetting about it.
RE: Solo Mining Jackpot - HashBTC - Nov 3, 2021
(Nov 3, 2021 07:34 AM)Frukt Wrote: This is an interesting idea and someone I follow on YouTube recently made a video on it.
https://www.youtube.com/watch?v=FyRGkbu-LB8
He is using GekkoScience NewPac "USB" sticks to mine BTC very inefficiently. (Spoiler) In the end, he decides to let them run and just be a jackpot hunter and not participating in the pool due to the low efficiency.
I was thinking about buying 1-2 and leaving them on in the basement forever and forgetting about it.
I do this. Bought 5 and the hub they offer. Tuned them to 545 MHz frequency I think and just let it try away. Running around 500 GH/s
RE: Solo Mining Jackpot - shreder - Nov 3, 2021
(Nov 3, 2021 11:06 AM)HashBTC Wrote: I do this. Bought 5 and the hub they offer. Tuned them to 545 MHz frequency I think and just let it try away. Running around 500 GH/s
With 500 GH/s
Chance per block: 1 in 372,535,388
Chance per day: 1 in 2,587,051
Time estimate: 7,088 years
I know its a dream jackpot but if I wasted my time doing one in a billion odds for $400k ima beat myself knowing dam well a lottery ticket for 100million is more likely.
RE: Solo Mining Jackpot - flAmingw0rm - Jan 12, 2022
I remembered this thread from a while ago and I read these news yesterday:
https://www.theblockcrypto.com/post/129894/bitcoin-miner-beats-1-in-1-3-million-odds-to-mine-a-btc-block
So I guess it finally happened, congratulations to the lucky miner!
RE: Solo Mining Jackpot - shreder - Jan 12, 2022
1 in a million chance pretty sick.
RE: Solo Mining Jackpot - SIM-3336514 - Jan 14, 2022
A solo bitcoin (BTC) miner with only 126 terahashes per second (TH/s) of computing power has become the unlikely winner of a block race on the Bitcoin network.
By successfully mining block 718,124, the lucky miner secured the 6.25 BTC block reward, which is about $260,000 at the current bitcoin price.
https://www.theblockcrypto.com/post/129894/bitcoin-miner-beats-1-in-1-3-million-odds-to-mine-a-btc-block