[∞ YH] solo.ckpool.org 2% fee solo mining 282 blocks solved!

[CryptoHFs]

There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:

Solo mining is gambling.

Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)

Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.

there are methods to almost make it a high risk high reward but at not unfavorable odds.

If you don't understand game theory  my talk may go over your head. but here goes. Look at the image.

what is the benefit of renting from someone that has eh/s speed 0.00000?

[1714761419]

1714761419

[g5120u]

Using the cost of a cup of coffee in your hand and the 24-hour lottery draw, waking up one day and suddenly becoming a rich life is also a good story (only if the cost of the cup will increase in the future and the computing power T value will really decrease over time)

 

[nalien2000]

I dont want to clutter the thread with nicehash discussion if it bothers ck or anyone, so i tried to direct message you, but you dont accept from newbies.  Here is what i tried to say:

It is only showing zero because the mining power is going to the highest bids.  PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash).  Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes.  It is ok to temporarily have no hashpower.  IT means you are not overpaying.  Each individual hash (or "share") is a shot at solving a block.  Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc.  Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block.  So don't think it will be easy to just rent and get rich. 

[CryptoHFs]

KYC required
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2

[philipma1957]

I dont want to clutter the thread with nicehash discussion if it bothers ck or anyone, so i tried to direct message you, but you dont accept from newbies.  Here is what i tried to say:

It is only showing zero because the mining power is going to the highest bids.  PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash).  Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes.  It is ok to temporarily have no hashpower.  IT means you are not overpaying.  Each individual hash (or "share") is a shot at solving a block.  Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc.  Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block.  So don't think it will be easy to just rent and get rich.  

exactly

i am renting 100 ph at proper price.

think of it as playing 1 dollar on a three digit number and getting paid 1025 to 1

low cost
high risk
high reward
under paid = investment

or playing 1 dollar on a three digit number and getting paid 975 to 1

low cost
high risk
high reward
overpaid = gambling


I know 6250 plays of 0.001 should hit a block and I would profit because I paid low.

Vs 6250 plays of 0.0001 should hit a block and I lose because I paid high.


Obviously it is more complex but it is something to pass time for me.

[CryptoHFs]

KYC required
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2

are you guys sure you didn't do KYC? how??

[nalien2000]

are you guys sure you didn't do KYC? how??

Hmm, it was a long time ago, i think i did kyc tier 1.  i think i had to upload my drivers license.  but i really dont remember.  KYC tier 2 is needed if you use their "team mining" and hit a block to withdraw the reward (and maybe for other reasons like withdrawing btc you have deposited).  I dont want to do any more than necessary so i didn't try team mining as i dont want to do tier 2.  I dont remember exactly what tier 1 consisted of...  maybe someone who did it more recently can elaborate.

[-ck]

Using the cost of a cup of coffee in your hand and the 24-hour lottery draw, waking up one day and suddenly becoming a rich life is also a good story (only if the cost of the cup will increase in the future and the computing power T value will really decrease over time)

 

There's a huge difference between running a cheap lottery year round, versus dumping $50K daily in the hope of poor double or nothing odds.

[nalien2000]

think of it as playing 1 dollar on a three digit number and getting paid 1025 to 1

low cost
high risk
high reward
under paid = investment

or playing 1 dollar on a three digit number and getting paid 975 to 1

low cost
high risk
high reward
overpaid = gambling

In my state, they have a pick 3 digit lottery game.  and it pays 500 to 1 .  50% house edge.  I still play it sometimes, my same numbers.  And i have won here and there, but over the long run I have lost due to the 50% house edge.  I would be better off spending that money renting hashpower at a low reasonable price.  Renting on nicehash is a MUCH BETTER odds than my state lottery game, when you bid low and don't overpay.  I think you only get 10 days though for the order before it expires.  So if too many people are overpaying, i think it is possible you never get your hashes, and then you lose out on the 3 or 4% nice hash fee.  you can always adjust up your bid, but then you are at risk of overpaying.

[CryptoHFs]

if anyone is up to it; https://bitcointalk.org/index.php?topic=5448475.0

[-ck]

There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:

Solo mining is gambling.

Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)

Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.

700 PH on nicehash roughly costs $52,500 per day how much does it cost on average for miners?

No idea, and wildly variable depending on access, infrastructure, and electricity costs. They also have a depreciation plan for selling them off when the next generation of more efficient mining hardware comes around and invest in that.

[philipma1957]

I am pointing 510 th here for 31 days.






https://solo.ckpool.org/users/bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.001


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.002


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.003

[-ck]

I am pointing 510 th here for 31 days.






https://solo.ckpool.org/users/bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.001


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.002


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.003

Good luck!

[willi9974]

Also good luck from my side philipma1957

#############


we have started the run

Live View Link:
https://solo.ckpool.org/users/bc1qxfcr58w0mjksy809k7pvvtns6jpdtscqc07uq2

{
 "hashrate1m": "21.4P",
 "hashrate5m": "15.2P",
 "hashrate1hr": "2.11P",
 "hashrate1d": "92.5T",
 "hashrate7d": "13.2T",
 "lastshare": 1681288974,
 "workers": 28,
 "shares": 1865000000,
 "bestshare": 6822145254.695269,
 "bestever": 6822145254,
 "worker": [
  {
   "workername": "bc1qxfcr58w0mjksy809k7pvvtns6jpdtscqc07uq2",
   "hashrate1m": "21.4P",
   "hashrate5m": "15.2P",
   "hashrate1hr": "2.11P",
   "hashrate1d": "92.5T",
   "hashrate7d": "13.2T",
   "lastshare": 1681288974,
   "shares": 1865000000,
   "bestshare": 6822145254.695269,
   "bestever": 6822145254
  }
 ]
}

Bitcoin Difficulty:
47.887.764.338.537

Best Share:
6.822.145.254
888.963.524
12.351.877
1.161.785

[philipma1957]

I am pointing 510 th here for 31 days.






https://solo.ckpool.org/users/bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.001


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.002


bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.003

Good luck!

Thanks ck      

  this is part of a new business model for me I am renting 510 th to   

CryptoHFs

https://bitcointalk.org/index.php?action=profile;u=3540644





So far I any having just a bit of trouble getting it to do 510 th
 

{
 "hashrate1m": "452T",
 "hashrate5m": "429T",
 "hashrate1hr": "440T",

"hashrate1d": "84.6T",
 "hashrate7d": "13.2T",

 "lastshare": 1681295094,
 "workers": 7,
 "shares": 1888936836,
 "bestshare": 2258141705.898901,
 "bestever": 2258141705,
 "worker": [
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.002",
   "hashrate1m": "101T",
   "hashrate5m": "94.2T",
   "hashrate1hr": "108T",
   "hashrate1d": "21.4T",
   "hashrate7d": "3.34T",
   "lastshare": 1681295091,
   "shares": 477643917,
   "bestshare": 245430295.8707369,
   "bestever": 245430295
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.001",
   "hashrate1m": "108T",
   "hashrate5m": "104T",
   "hashrate1hr": "104T",
   "hashrate1d": "20.6T",
   "hashrate7d": "3.22T",
   "lastshare": 1681295094,
   "shares": 460841264,
   "bestshare": 628293616.0939637,
   "bestever": 628293616
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.003",
   "hashrate1m": "73.3T",
   "hashrate5m": "70.3T",
   "hashrate1hr": "73.2T",
   "hashrate1d": "14.4T",
   "hashrate7d": "2.25T",
   "lastshare": 1681295094,
   "shares": 321645071,
   "bestshare": 131790475.2642024,
   "bestever": 131790475
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.004",
   "hashrate1m": "44.1T",
   "hashrate5m": "47T",
   "hashrate1hr": "52.7T",
   "hashrate1d": "9.67T",
   "hashrate7d": "1.5T",
   "lastshare": 1681295092,
   "shares": 215034126,
   "bestshare": 290058950.2921881,
   "bestever": 290058950
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.005",
   "hashrate1m": "50.6T",
   "hashrate5m": "51.7T",
   "hashrate1hr": "50.2T",
   "hashrate1d": "9.26T",
   "hashrate7d": "1.44T",
   "lastshare": 1681295093,
   "shares": 205659344,
   "bestshare": 2258141705.898901,
   "bestever": 2258141705
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.006",
   "hashrate1m": "52.4T",
   "hashrate5m": "48.4T",
   "hashrate1hr": "49.7T",
   "hashrate1d": "9.29T",
   "hashrate7d": "1.45T",
   "lastshare": 1681295094,
   "shares": 206544116,
   "bestshare": 64926053.29994567,
   "bestever": 64926053
  },
  {
   "workername": "bc1qaswx0t6gps4xzr4neku8ygr6f7qwc65jt5y3c3.007",
   "hashrate1m": "44T",
   "hashrate5m": "17.3T",
   "hashrate1hr": "1.82T",
   "hashrate1d": "77.4G",
   "hashrate7d": "11.1G",
   "lastshare": 1681295079,
   "shares": 1568998,
   "bestshare": 10734223.85978152,
   "bestever": 10734223
  }
 ]
}


Should have it stable later today.

[nalien2000]

Hi Phil, one of your miners is still pointing to the other bitcoin address in case you didn't notice:

   "workername": "bc1qpmqh24rppuzm8fyrv7gp3p3zfq0suzp2pe09rg.s19",   (me)
   "hashrate1m": "120T",
   "hashrate5m": "116T",
   "hashrate1hr": "114T",
   "hashrate1d": "28.1T",
   "hashrate7d": "4.52T",
   "lastshare": 1681298995,
   "shares": 649957923,
   "bestshare": 371683695.5754483,
   "bestever": 371683695
  },
  {
   "workername": "bc1qpmqh24rppuzm8fyrv7gp3p3zfq0suzp2pe09rg.001",   (you i think)
   "hashrate1m": "113T",
   "hashrate5m": "107T",
   "hashrate1hr": "101T",
   "hashrate1d": "24.8T",
   "hashrate7d": "3.98T",
   "lastshare": 1681298987,
   "shares": 572010286,
   "bestshare": 312331949.4749023,
   "bestever": 312331949

[-ck]

  this is part of a new business model for me I am renting 510 th to   

CryptoHFs

Should have it stable later today.

The fairest deal is for him to pay for a fixed number of hashes rather than a hashrate then if it's not entirely stable or up to full speed.

[CryptoHFs]

been few hours and didn't get any block yet:



 

[-ck]

been few hours and didn't get any block yet:



 

Haha. 

[willi9974]

damn, that was close again, but too bad.
Let's hope for the best that there is still something to come.

Live View Link:
https://solo.ckpool.org/users/bc1qxfcr58w0mjksy809k7pvvtns6jpdtscqc07uq2

{
 "hashrate1m": "17.3P",
 "hashrate5m": "17.8P",
 "hashrate1hr": "18P",
 "hashrate1d": "3.42P",
 "hashrate7d": "533T",
 "lastshare": 1681306435,
 "workers": 28,
 "shares": 76170000000,
 "bestshare": 1199956786818.637,
 "bestever": 1199956786818,
 "worker": [
  {
   "workername": "bc1qxfcr58w0mjksy809k7pvvtns6jpdtscqc07uq2",
   "hashrate1m": "17.3P",
   "hashrate5m": "17.8P",
   "hashrate1hr": "18P",
   "hashrate1d": "3.42P",
   "hashrate7d": "533T",
   "lastshare": 1681306435,
   "shares": 76170000000,
   "bestshare": 1199956786818.637,
   "bestever": 1199956786818
  }
 ]
}

Bitcoin Difficulty:
47.887.764.338.537

Best Share:
1.199.956.786.818
25.225.780.505
8.658.526.270
6.822.145.254
888.963.524
12.351.877
1.161.785