Solo mine with 600 GHs

[P0rny]

Hey!

There was quite a bit of discussion of solo mining with old hardware a while back, anyone have the calculation to calculate how long it would be to solo mine with a 600 GHs machine?

Thanks!

[achow101]

According to this: https://bitcoin.stackexchange.com/questions/14346/what-are-the-odds-of-discovering-a-block-as-a-solo-miner
With a network hashrate of 362,000,000 GH/s:
362000000/600 = 603333 many blocks before you find one.
At average of 144 blocks per day: 4189.81 ~ 4190 days = 11.4718 ~ 11.5 years to find one block at the current difficulty.

[TKeenan]

According to this: https://bitcoin.stackexchange.com/questions/14346/what-are-the-odds-of-discovering-a-block-as-a-solo-miner
With a network hashrate of 362,000,000 GH/s:
362000000/600 = 603333 many blocks before you find one.
At average of 144 blocks per day: 4189.81 ~ 4190 days = 11.4718 ~ 11.5 years to find one block at the current difficulty.

How many hundreds of years will it take for one of BitFury's energy wasting lightbulbs take to find a block?

[altcoinhosting]

How many hundreds of years will it take for one of BitFury's energy wasting lightbulbs take to find a block?

I would compare buying such a lightbulb to buying a lottery ticket... Astronomical small chance of winning lots of money

[NorrisK]

How many hundreds of years will it take for one of BitFury's energy wasting lightbulbs take to find a block?

I would compare buying such a lightbulb to buying a lottery ticket... Astronomical small chance of winning lots of money

And than the reward is not even as big as in a lottery.

Lottery = small chance - very big reward
Lightbulb miner = tiny chance - smallish reward

[Amph]

According to this: https://bitcoin.stackexchange.com/questions/14346/what-are-the-odds-of-discovering-a-block-as-a-solo-miner
With a network hashrate of 362,000,000 GH/s:
362000000/600 = 603333 many blocks before you find one.
At average of 144 blocks per day: 4189.81 ~ 4190 days = 11.4718 ~ 11.5 years to find one block at the current difficulty.

How many hundreds of years will it take for one of BitFury's energy wasting lightbulbs take to find a block?

they will never find any block, because the diff will keep increase, unless we stay in this current situation forever(highty unlikely)

now if you build a "bot net" of bulb, this could be another story 

if they will achieve 1 giga each, multiply this for 1B houses x 3litghbulbs each and you get 3B giga, which is 3000 peta, x 10 above the current network hasrate

[philipma1957]

According to this: https://bitcoin.stackexchange.com/questions/14346/what-are-the-odds-of-discovering-a-block-as-a-solo-miner
With a network hashrate of 362,000,000 GH/s:
362000000/600 = 603333 many blocks before you find one.
At average of 144 blocks per day: 4189.81 ~ 4190 days = 11.4718 ~ 11.5 years to find one block at the current difficulty.

I get 10.8 years

600gh is 0.006341 btc a day  according to bitcoinwisdom

I divided  that into 25 coins and get 3942.595  divide by 365 =  about 10.8

and about 3942 to 1 on any given day.  with our current diff rate..

problem with these estimates is  they are base on current diff rate.    

the rate dropped more then 2%   last adjustment so you have better odds this adjustment then the last.

our adjustments have been good lately.

so good I run this at a solo pool


http://solo.ckpool.org/users/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje


my cost is 7 cents a day to run the 117gh at a solo block my odds are 22,222 to hit a block so with 'normal luck'

I will spend 1555.54 usd to hit a block  currently a block is worth 5625 usd.

unfortunately I can't scale up to large hash rates with my location.

[crazyearner]

Hard to tell might just get lucky and mine a block within far less time all depends on how lucky you are mining with 600GH on solo but don't expect anything soon tho. Might as well stick on pool mining or if you got no worries about energy costs then no harm in trying your luck on it. I use to be lucky enough on LTC when solo mining that with GPUS now theirs asic in the air for scrypt mienrs took it to a whole new level no point now unless got some serious power. Could set up own private pool and do that way maybe more luck and joy on it.

[P0rny]

Thanks guys, appreciated!