Bitcoin Forum

I am VERY new to bitcoin mining, I just wanted to ask how successful would a 1Th/s mining machine be at doing solo? how often do you think it would be able to find a block and how less would that get in a years time do you think (date needed for upgrade)?

I am not looking for money to live off of, cuz I doubt that would be possible with 1Th/s anyways, but just a bit of cash to splash around after it covers cost (got a very good deal on the machine but havent bought it yet).

Not concidering difficulty changes and next years block reward halving it would take you an average of approx. 8 years to find 1 block.

Current diff you're looking at 2309 days, 7 hours, 27 minutes, 3 seconds

EDIT: beat me to it!

Lol thanks guys...

so in other words...its useless?  :P


well what if it was used on one of those pool sites? how much do u think I can make with a 1th/s? (lets forget about electricity cost for now) :)

I could give you a estimate...

But as you want to be a miner, I will not be doing you a favor by doing it for you, you need to learn the basics to make your own projections:)

Try one of these classic calculators:

https://tradeblock.com/mining/    (use to be mining.thegenesisblock.com)

or

https://bitcoinwisdom.com/bitcoin/calculator

well you have like a 1/320,000 chance to solve a block, Based on your hash rate compared to the network. It is like a lottery so you could be extremely lucky, or waiting as one guy said, 2300 days

Not sure if I want to be a miner yet... Trying to find if it is worth getting into.

but thanks :)

LOL with my luck? forget about it lol

I wonder if it would be worth it with one of them pooling websites... I just wanted to know roughly how much one can make a month with such a machine on average to understand if its a good investment or not :)

Not worth mining solo if your goal is to get some btc at some point.  If you don't care about getting rewarded, nothing wrong with solo mining.  Otherwise, mine at a pool not solo.

bitsolo pool, a 1.5TH miner founded a block :


https://twitter.com/BitSolo1/status/566911072750534657


http://bitsolo.net/pool-stats/





FaSan

Even though the rewards don't often pay for the pud bill it's a fun hobby for sure.  I love getting payouts even small ones.  If you want spending cash now probably isn't the best time.  Good Luck!

what machine?
 what price?
what does your power cost?

A free pair of s-3's zero cost with a free psu zero cost.

Will lose money if your power is not cheap.

Why the s-3 uses .8 watts per gh. and that loses money if power costs you 14 cents a kwatt.

http://imagizer.imageshack.us/v2/1280x1024q90/631/dEpHlp.png

Oh, you never know that. It can take 8 days or 8 weeks too.

Well... If you should SOLVE the block - maybe... But ain't we talking about FIND a block?.. My S2 found a block (in a pool working unfortunately) after about 2 monthes last year.

I've been mining with between 1 and 6TH for most of the last year and have yet to witness a share greater than 4.6B
Meanwhile, one of my hosting customers' Prismas pulled a 31G share and the following week one of his Dragons found a block (the day after he sold it and pointed it to someone else's pool). I know a guy that found a block on a USB BE which had been running on his workbench for about half an hour when the diff was already over 100M.

Luck is very blind, but low probabilities are low probabilities and every single hash is an independent event so the odds do not accumulate over time.

1TH/s Machine
650 dollars
electricity is 0.08 USD per KWH

No!!! $650,- for 1TH is way overpriced...

Hashcoins wants even 750 USD for their Apollo...

it is? :P and here i thought i was getting a deal thanks lol

whats a good price and what company? :)

If you want new, go by Bitmaintech: https://bitmaintech.com/productDetail.htm?pid=000201412231604153619o9X1obn0693

Second hand, use this site's marketplace (or Ebay) and a trusted escrow service...

For (less than) $650,- you should be able to get 3 Antminer S3's with PSU's averaging 1,4TH...

I've got a hosting customer looking to unload 4x S3 and 2x PSU. I don't know what kind of bundle price he'd be looking for but it might be in that neighborhood.

here is a good deal


https://bitcointalk.org/index.php?topic=967855.0

that one is sold but


pm me if you live in the usa.  I have lots of gear.

read my trust.

https://bitcointalk.org/index.php?action=trust;u=64507

Cool man, thanks :) ...

is it though a smart investment? I mean do u end up making ur money back on the machine at least and how long do u think that usually takes?

Everyone's circumstances are different.  Here is a good calculator for you to make your own models to base your decisions on:  https://bitcoinwisdom.com/bitcoin/calculator

I would stick with around 5% difficulty increases for the near future, don't use pools with fees EXCEPT Kano's. Cause he's a boss.  Don't forget to factor currency exchange on your electricity rates if applicable (this crappy Canadian dollar is benefiting us miners North of the border).

No it is not. It's a long shot, a gamble... Put money you don't mind losing in it. If it pays off, "we" are lucky. If not, byebye money.

If you're looking for a smart investment; look at the investments funds available to you that have a long time track record of around 10% annual interest rate and put your money in it...

I'm not kidding,
Slobodan Bogovac MBA
Lecturer of economic law

if you decide to mine solo with 1 ths its a set and forget case, dont expect anything and lay your hands in goodess luck.

check your wallet every month and go on...
I read a lot on solo mining that people are renting for a small reriod some miners and run then solo
for intance 500 ths for 12hours etc.
there are some rental services you can use
check how much you want to spent and either spent it a year with 1ths or 24 hours with 500 or more
nicehash or rigrentals you can check the rates.

You should be assured to find one in 8 years,
Its a coin flip 50/50 that you find one in 4 years
1 in 4 shot that you find it in 2 years
1 in 8 that you find one in a year.

Feeling lucky?

When setting up a vanity wallet address that I wanted to be 1bitcoinxxxxx I think it told me it would take a year or some sort,
It took a month.

I was lucky

If you want I am selling my Antminer S7 for 1400$ with the original Antminer PSU.... 4.73 th/s 240Volts work very well

This might be a good idea for you.

https://bitcointalk.org/index.php?topic=2207363.0

We are making a small group to pool our hashpower (all be it low power devices) at CKSolo pool.

You could point it there on your own but a collective effort is much better and it will be escrow by ck himself.

If your want to take part visit the topic above or send me a PM