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Author Topic: How do I know if I find a block mining solo?  (Read 7815 times)
Graet
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August 24, 2012, 01:10:47 PM
 #21

Can you try to count what is the possibility to get a bloct when solo and hashrate is 800MHash/s ?

<Graet> ;;bc,calc 800000
<gribble> The average time to generate a block at 800000 Khps, given current difficulty of 2190865.9701029 , is 19 weeks, 3 days, 3 hours, 15 minutes, and 22 seconds

which of course gets harder every difficulty change at the moment
we are expecting the next increase of between 11 and 12% in 10 hours

of course it would be a killer to wait that long and get an invalid (orphan block)

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DannyHamilton
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August 24, 2012, 01:34:18 PM
 #22

Can you try to count what is the possibility to get a bloct when solo and hashrate is 800MHash/s ?

<Graet> ;;bc,calc 800000
<gribble> The average time to generate a block at 800000 Khps, given current difficulty of 2190865.9701029 , is 19 weeks, 3 days, 3 hours, 15 minutes, and 22 seconds

which of course gets harder every difficulty change at the moment
we are expecting the next increase of between 11 and 12% in 10 hours

of course it would be a killer to wait that long and get an invalid (orphan block)
And that is an average time to generate a block, there is no guarantee that you will generate a block by then.  You could easily end up having gone 38 weeks without generating a block.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
Graet
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August 24, 2012, 02:31:22 PM
 #23

Can you try to count what is the possibility to get a bloct when solo and hashrate is 800MHash/s ?

<Graet> ;;bc,calc 800000
<gribble> The average time to generate a block at 800000 Khps, given current difficulty of 2190865.9701029 , is 19 weeks, 3 days, 3 hours, 15 minutes, and 22 seconds

which of course gets harder every difficulty change at the moment
we are expecting the next increase of between 11 and 12% in 10 hours

of course it would be a killer to wait that long and get an invalid (orphan block)
And that is an average time to generate a block, there is no guarantee that you will generate a block by then.  You could easily end up having gone 38 weeks without generating a block.
yes, and just as much chance of finding one in 1/2 the time, the beauty of variance Cheesy

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August 24, 2012, 03:04:26 PM
 #24

Can you try to count what is the possibility to get a bloct when solo and hashrate is 800MHash/s ?

<Graet> ;;bc,calc 800000
<gribble> The average time to generate a block at 800000 Khps, given current difficulty of 2190865.9701029 , is 19 weeks, 3 days, 3 hours, 15 minutes, and 22 seconds

which of course gets harder every difficulty change at the moment
we are expecting the next increase of between 11 and 12% in 10 hours

of course it would be a killer to wait that long and get an invalid (orphan block)
And that is an average time to generate a block, there is no guarantee that you will generate a block by then.  You could easily end up having gone 38 weeks without generating a block.
yes, and just as much chance of finding one in 1/2 the time, the beauty of variance Cheesy

Not just as much chance, more like also a chance.  The longer the time period, the better the chance that a block will be found by you somewhere in that time period.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
JoelKatz
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August 24, 2012, 03:08:20 PM
 #25

How do I know for sure IF I ever find a block using solo mining I am actually being paid 50 BTC (or 25 BTC later this year)? It would be a real joke if you find a block and get nothing? Where is the warranty to be paid IF found? And will it be really be paid to the bitcoin client address, not some random address???
When you find a block, it includes the transaction paying 50 bitcoins to you. If someone changed the address, the block hash would change and no longer meet the difficulty requirement, creating an invalid block. The only way the block you mined can ever be used by anyone is if it makes it into the public blockchain, in which case your 50 BTC payment makes it in too.

You might think, "well, maybe someone else will mine a block that replaces mine". But why would they? If they mine a block that comes after yours, they get the same 50 BTC themselves. And because their block would include yours in the chain, it would provide a longer chain and thus one more likely to get confirmations. (Longest chain wins, more or less.)

So as soon as you find a block, every miner greedily tries to find a block *after* it because that makes it more likely their blocks will "stick". A block must stick to pay the reward. A block cannot be tampered with -- a new block would have to be found to replace it.

Of course, there's always a risk somebody mines a block at very close to the same time you do and someone else mines a block after the other person's block rather than yours. Then you lose.


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dietrich67
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December 01, 2013, 03:17:02 AM
 #26

So, the only notification I get when I find one in GUIMiner (on the left) is 25BTCs showing up in Bitcoin Wallet on my right?

http://managedclans.com/gallery/images/15456636728998466028.png

Just want to confirm I understand all this...
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