Someone Just Mined Bitcoin Block With a $200 Miner At Home

[tread93]

It’s a once in a lifetime hit, don’t get excited & think anybody can mine a block as a solo miner because it is gery, very unlikely. Obviously it can be fun to mine from home but most of the time it’s going to be at a loss when you add up electricity costs plus mining rigs, maintenance etc.

Man, can you imagine running a node that is so against the odds of ever mining anything and then one day you strike gold, or should I say BITCOIN  Damn, I mean contracts to that man or woman who set that up and probably forgot about it. That is absolutely insane, I hope it went to someone who really needed it.

[OgNasty]

It’s a once in a lifetime hit, don’t get excited & think anybody can mine a block as a solo miner because it is gery, very unlikely. Obviously it can be fun to mine from home but most of the time it’s going to be at a loss when you add up electricity costs plus mining rigs, maintenance etc.

Man, can you imagine running a node that is so against the odds of ever mining anything and then one day you strike gold, or should I say BITCOIN  Damn, I mean contracts to that man or woman who set that up and probably forgot about it. That is absolutely insane, I hope it went to someone who really needed it.

I’m surprised someone hasn’t claimed to be the miner yet. Maybe they don’t even know. I sure wouldn’t be checking every day if I hit a block if I was solo mining with one of these things. Imagine the guy checks his wallet in a couple months and suddenly finds out he’s sitting on a modern day gold mine.

[ranochigo]

I’m surprised someone hasn’t claimed to be the miner yet. Maybe they don’t even know. I sure wouldn’t be checking every day if I hit a block if I was solo mining with one of these things. Imagine the guy checks his wallet in a couple months and suddenly finds out he’s sitting on a modern day gold mine.

They should've realized it already. The miner stopped mining shortly after they've discovered the block. Likely wouldn't want to bother with the publicity after hitting such a nice block 

[el kaka22]

Also we need to remember that those odds could grow if you have a lot of them. Let's assume that there is a lottery, and this lottery has 1 billion tickets, that means if you own 1 ticket, the odds of you winning one would be one in a billion.

However, if you buy half a million tickets, suddenly you have a 50% chance of winning right? That means, while it doesn't exactly worth that way, if you could make a "pool" or anything with a million of these, it's normal that one of them eventually mines something. Doesn't mean that's what they did, it could just be odd chance and nothing more than that, of course it could be that and probably is that, but it just doesn't mean that it would be the only way.

I personally suggest that people stop looking at not only at-home mining operations, but also mining in general. Because big companies already took over that market, and they are spending millions every year, you and I can't spend as much as them, and it's not profitable for us to start a mining operation with our capital, it's just too small. These people instead do something that makes a lot more money with their capital, and they are taking the risk, which is why they are profiting more.

[Silberman]

It’s a once in a lifetime hit, don’t get excited & think anybody can mine a block as a solo miner because it is gery, very unlikely. Obviously it can be fun to mine from home but most of the time it’s going to be at a loss when you add up electricity costs plus mining rigs, maintenance etc.

This is just like winning the lottery, the odds were not on the favor of this miner, but since they were not zero, it always existed the possibly for this happening, so congrats to the lucky miner as 200k is not a small amount of money, and the best part is that the bull run is just starting, so if they can hold that bitcoin for a short amount of time, they could obtain even more money than what they have already got, increasing their profits even further and making this story even better than what it is already.

[nc50lc]

For those who want more context regarding this news, the miner isn't using a single 500GH Bitaxe miner when he mined the block.
He has a total hashrate of 3.1TH suggesting that it's multiple Bitaxe miners or additional other low hashrate miners.
Still, that's a feat worth of a news article.

The owner of ck pool has posted a reply shortly after the block is mined in his solo pool thread;
link: https://bitcointalk.org/index.php?topic=5237323.msg64356985#msg64356985

The chances of someone hitting a block with only 3TH given the current difficulty would take about 3500 years.

This is rather discouraging. Was contemplating trying this  

Here's to encourage you, you could mine the next block or the block 3500years in the future.
(with an "astronomically" low chance)

But to discourage you again, with a single Bitaxe miner, it would be more or less 22,000 years.
500GH got about 0.00000008638% to mine the next block, and
 3.1TH got about 0.0000005424%; reference: solochance.com

[dansus021]

I read a lot of stories from the CkPool that some people hit jackpot by mining solo and to be honest when I am the owner of that hardware that is really hit the jackpot why because It solo block give you 100K more and a lot of money and with that money I can live happily without work rest of my life hahah.

But to be honest I'm still curious how much time does he need to mine a single block I know the cost of the miner is 200 USD but how much time and electricity he paid to get this solo block, I believe he needs than a month to get those jackpot block 

[avikz]

Looks more like an advertisement rather than a reality! I would say it's like a lottery winning where the odds of winning are extremely less. If this is a reality, then congratulations to the miner but this shouldn't trick you into buying this miner. It will just end up burning electricity for you.

I think the below reply sums it up to whoever is curious,

Congratulations to miner bc1qk4czgwtfhxwfd9r696kzledtmlu8yukdzpzn3u with the first bitaxe and only a tiny 3.1TH for finding the 290th solo block!

Code:

[2024-07-24 17:43:46.073] Possible block solve diff 300062660427407.250000 !
[2024-07-24 17:43:46.189] BLOCK ACCEPTED!
[2024-07-24 17:43:46.190] Solved and confirmed block 853742 by bc1qk4czgwtfhxwfd9r696kzledtmlu8yukdzpzn3u.bitaxe
[2024-07-24 17:43:46.191] User bc1qk4czgwtfhxwfd9r696kzledtmlu8yukdzpzn3u:{"hashrate1m": "3.49T", "hashrate5m": "3.11T", "hashrate1hr": "1.09T", "hashrate1d": "473G", "hashrate7d": "308G", "shares": 136919959, "authorised": 1720194068}
[2024-07-24 17:43:46.191] Worker bc1qk4czgwtfhxwfd9r696kzledtmlu8yukdzpzn3u.bitaxe:{"hashrate1m": "3.49T", "hashrate5m": "3.11T", "hashrate1hr": "1.09T", "hashrate1d": "473G", "hashrate7d": "307G"}
[2024-07-24 17:43:46.236] Block solved after 316687459958461 shares at 386.0% diff

This much hashrate only would find a block once every 3500 YEARS on average, or one in 1 million per day!

https://mempool.space/block/00000000000000000000f0235e50becc0b3bc91231e236f67736d64b1813704b

If someone is really willing to get into mining. keep a serious amount of upfront investment ready!

[stompix]

Also we need to remember that those odds could grow if you have a lot of them. Let's assume that there is a lottery, and this lottery has 1 billion tickets, that means if you own 1 ticket, the odds of you winning one would be one in a billion.
However, if you buy half a million tickets, suddenly you have a 50% chance of winning right?

You have a 0.05% chance of winning, not 50%!
Also, if every lottery ticket would cost you 100$ like the gear above, you would pay 100 million for the billion chance!
Now, what happens if you spend billions buying 99.99% of them and you lose? 

Everyone should try their luck with it.

If everyone would try it we would simply add another 3th/s x7 billion, so 21 Zettahash, slowing our chances by another 30 times if those were not low enough.

[anarkiboy]

LOL that's just an advertisement to sell this useless junk.