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Author Topic: HOW MUCH TIME DOWS IT TAKES TO MINE A BLOCK SOLO???  (Read 4933 times)
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Sir_lagsalot
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November 11, 2015, 09:39:21 AM
 #21

Mining a block is basically your computer receiving an unfinished number sequence, which is also given out to all the other miners, too. The blank spaces are called nonces, and people "hash" nonces (aka guessing them). When they get them correct, they unlock the "coinbase" which stores all the newly minted coins.

So basically, it could take a few days, or can be near-instant. It depends on if your device guesses the correct nonce combination.

The more hashing power your device has, the more it can guess. Therefore the higher chance you have.

Tl;Dr: it can take a hilariously long time, or can take less than a second. It depends on how lucky you are. But solo, it'll take a few days, usually.


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November 11, 2015, 03:29:15 PM
 #22

hello i am eager to know how much time it takes to mine a block solo???and at what rate Huh

please post related to topic...off -topic posts will be deleted

Thank You

You need some serious equipment for this mate! You need your own mining farm. We are talking about 50 BTCs reward here daily. That's hell of a lot money. Like Amph has said, electricity costs here are negligible compared to how much you need invested in the asics.

wrong.one block rewards 25 BTC not 50 BTC!
And soon it will be only 12.5 BTC per block


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November 11, 2015, 06:40:11 PM
 #23

You will need about 2,625 TH/h in order to mine one block in a day.  Now keep in mind, this does not calculate in the electricity you have to use along with whatever down time you are looking at.  Mining solo is no use anymore unless you have a large bankroll sitting somewhere.  Once the difficulty gets greater, it will take a lot more in order for you to mine profitably. 
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January 11, 2016, 05:14:21 AM
 #24

You will need about 2,625 TH/h in order to mine one block in a day.  Now keep in mind, this does not calculate in the electricity you have to use along with whatever down time you are looking at.  Mining solo is no use anymore unless you have a large bankroll sitting somewhere.  Once the difficulty gets greater, it will take a lot more in order for you to mine profitably.  

With difficulty rising will it result into end of bitcoin at some point?

Because mining will no longer profitable for miners which will tend to end to bitcoin mining at some point and will ultimately result to no longer confirmation of bitcoin blocks or mining of blocks.. So is bitcoin going to end??? Or will it be like difficulty will be resetted??

If am wrong correct me please

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January 12, 2016, 07:33:32 AM
 #25

The theory is that "Transaction fees" will cover the cost of the infrastructure that processes the block chain. Those fees are embedded in each block and are presently dwarfed by the current block reward of 25BTC.

We'll have to see if that actually pans out, though we won't know for at least a decade or more.
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