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spekoner (OP)
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June 15, 2011, 04:34:56 AM
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Before i invest in a rig i wanted to just understand the process of bitcoin mining.. so im mining with just 1 radeon hd 5770, getting about 150,000 khash/sec.
its been about 3 days and nothing. my question is, do you generate 1 bitcoin at a time? or a whole block at a time? thanks
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June 15, 2011, 04:41:00 AM
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It's now pretty much impossible to mine solo. You pool mine, which means you join a pool and mine for them. The whole pool gets a block to solve (a block holds 50 BTC) and it gets solved by the pool, which pays out according to how much work you put in.
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June 15, 2011, 05:04:31 AM
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Yes you can only find a Block which is 50 BTC if you mine solo. At your 150 Mhash, it would take you and average 188 days to generate 1 block.
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http://forum.bitcoin.org/index.php?topic=30799.0
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