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Author Topic: mining one block with low hashrate  (Read 457 times)
bettercrypto
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May 24, 2023, 08:19:51 AM
Last edit: May 24, 2023, 08:31:30 AM by bettercrypto
 #21

is it possible to mine a block with hashrate lower then mining pools(or which have very high hashrate with lot of gpu)

if, yes then in what condition it's possible. ?

and anyone mined a block by low hashrate?

Yes it is still possible to mine with low hashrate. It just means that solving the block is slow. This is because a miner has very low chances of solving the block. But if there is an opportunity, they will still try to solve it, that's why they call the network probabilistic.

      But you should also be aware of the risk, because of its low hashrate, there are also chances that it won't be able to solve a block.
And when that happens you have no profit of course. So if you really want to earn even if the hashrate is low, you should use efficient miners.

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May 24, 2023, 11:35:26 AM
 #22

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Mining is a business that you invest money into if you want it to be profitable for you, it is not a leisurely activity you should do for passive income and dream of making profits one day, a day you don't even know if it might come. If you can afford to have enough computational power, solo mining is great, but if you don't, you should join a mining pool and contribute your hashrate to the pool, the little profit you will make that way is better than waiting for an uncertain time that may not come.

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May 24, 2023, 03:26:23 PM
 #23

How do you think this miner got the block? Did he do experiments on old ASICs that returned investments, or was he purposefully ready to take risks and pay for electricity for a long time? I also think that this miner is very lucky, but there are many such dreamers among experienced miners, so they mine bitcoin with a small hashrate.

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Some dreamer miners manage to mine a block, so solo mining with a small hashrate works.
But if you mine bitcoin on a pool with a low hashrate, then you will soon turn off the asics, because the profit will decrease every month. I do not have the possibility of additional electricity consumption in my house, so I cannot buy more ASICs.

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May 24, 2023, 08:07:18 PM
 #24

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Mining is a business that you invest money into if you want it to be profitable for you, it is not a leisurely activity you should do for passive income and dream of making profits one day, a day you don't even know if it might come. If you can afford to have enough computational power, solo mining is great, but if you don't, you should join a mining pool and contribute your hashrate to the pool, the little profit you will make that way is better than waiting for an uncertain time that may not come.

We all understand the chances and of course it will be an infinitesimaly small chance, but it is a chance no matter what. So why not? These devices won't take a toll on your electricity bill whatsoever. So, once again, why not? It's better that than to have the device lying there doing absolutely nothing!

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May 24, 2023, 09:12:43 PM
 #25

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Mining is a business that you invest money into if you want it to be profitable for you, it is not a leisurely activity you should do for passive income and dream of making profits one day, a day you don't even know if it might come. If you can afford to have enough computational power, solo mining is great, but if you don't, you should join a mining pool and contribute your hashrate to the pool, the little profit you will make that way is better than waiting for an uncertain time that may not come.

We all understand the chances and of course it will be an infinitesimaly small chance, but it is a chance no matter what. So why not? These devices won't take a toll on your electricity bill whatsoever. So, once again, why not? It's better that than to have the device lying there doing absolutely nothing!
If these are asics 80-100 Terahesh, then paying 1000-2000 dollars per month for electricity will not be small for the miner.
I have not experimented for more than a month, because these are big losses.
It is more interesting to mine altcoins in solo, but the statistics are different.
https://k1pool.com/pool

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May 24, 2023, 10:02:48 PM
 #26

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Mining is a business that you invest money into if you want it to be profitable for you, it is not a leisurely activity you should do for passive income and dream of making profits one day, a day you don't even know if it might come. If you can afford to have enough computational power, solo mining is great, but if you don't, you should join a mining pool and contribute your hashrate to the pool, the little profit you will make that way is better than waiting for an uncertain time that may not come.

We all understand the chances and of course it will be an infinitesimaly small chance, but it is a chance no matter what. So why not? These devices won't take a toll on your electricity bill whatsoever. So, once again, why not? It's better that than to have the device lying there doing absolutely nothing!
If these are asics 80-100 Terahesh, then paying 1000-2000 dollars per month for electricity will not be small for the miner.
I have not experimented for more than a month, because these are big losses.
It is more interesting to mine altcoins in solo, but the statistics are different.
https://k1pool.com/pool

No... It's an ESP32 device that uses no more than a few miliamps. It's a vey low hashrate. It costs nothing to run it so why not??? No shitcoinery, please! At least for me.

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June 02, 2023, 08:35:44 PM
 #27

Mysterious Anonymous Bitcoin Miner Rakes in $1.7 Million in $BTC Rewards in a Day

"A mysterious new cryptocurrency miner has managed to, seemingly as a new participant, mine over $1.7 million worth of the flagship cryptocurrency Bitcoin ($BTC) within a single day by managing to find numerous blocks.

Each Bitcoin block contains 6.25 BTC, along with the transaction fees paid for the transactions included in that block. The fact that the miner’s identity remains obscured has piqued interest across established mining pools, as it eluded notable names like Binance Pool and AntPool."

Are you also interested in what hashrate this miner worked with?
I think with such luck it was not a small hashrate.


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June 06, 2023, 03:13:55 AM
 #28

How do you think this miner got the block? Did he do experiments on old ASICs that returned investments, or was he purposefully ready to take risks and pay for electricity for a long time? I also think that this miner is very lucky, but there are many such dreamers among experienced miners, so they mine bitcoin with a small hashrate.

So your saying dreams cannot become true? It does mate! So let people keep dreaming to solve a block with a lower hashrate.
Some dreamer miners manage to mine a block, so solo mining with a small hashrate works.
But if you mine bitcoin on a pool with a low hashrate, then you will soon turn off the asics, because the profit will decrease every month. I do not have the possibility of additional electricity consumption in my house, so I cannot buy more ASICs.

There is chance for each miner whether they are dreamers or not, and yes the solo mining thing works even with very low hash rate, but the ones who find a block with low hash rate by solo mining might be the luckiest people in the world. The dreamers should understand that there are thousands of rich whales who have enough hash power to ruin their dreams and that's a reality and it should not be kept in dark.

I know luck sometimes has more power than hash rate, but in most cases the higher hash rate is the true winner. Back to OP, unless you're a very lucky person, you aren't going to find a block with low hash rate that's generated with the help of a GPU and that's a fact. I'm not here to discourage you but that's the truth and you must have to swallow it.

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