A solo Bitcoin miner wins $266k reward

[Sipurba]

I see that Solo Miners still have the opportunity to get such rewards _[ref]. Therefore, there are several things I want to ask. Does that mean that the distribution system of mining on Bitcoin is unfair? Isn't Bitcoin mining contested? Does that mean it is better to do Bitcoin mining solo? I hope there is an answer to my question. Because I am interested in doing solo mining rather than using a pool. My reference _{https://coinpedia.org/news/solo-bitcoin-miner-hits-266000-jackpot-amid-rising-mining-difficulty/}

[Outhue]

It will be a bad idea to go out and buy a BTC miner all for solo mining, do not forget that there are thousands of other miners on solo mining network wanting the same thing to unfold, this is like a casino style game.

If you want to play this same solo mining game you must have free electricity, this is the only way that solo mining can make sense, so if nothing get out of it you won't have to settle the electricity bill.

I even recommend solar electricity, mine with the sun and run on battery as backup in the night, I will recommend 10TH or more unless your solar setup is minimal, even those bitaxe mini miners still solve blocks too.

[Block888737]

Yah an Apollo node reported the block and it had a diff of 393T.  393,692,033,929,762 to be precise.
https://bitaps.com/888737
 What is not known is what miner was used - the one in the Apollo (at most a couple Th) or did the winner point a buttload of rental hash at it?

The block was found using an S19K 120Th miner, which was underclocked to 100TH at the time. I don't know if I would call it a small farm, but it consists of 10TH of various Apollo miners and one S19Kpro. I mine for the love of the game and heat in the cold months.  I never thought I'd hit a block.

[MeGold666]

FutureBit Apollo machine

Nice advertisement. You expect people to buy this total junk now?

No need to answer, it was a rhetorical question.

/Over&Out.

[justdimin]

At the end of the day if you care about Bitcoin you should be mining it even if you mine it at a loss, this helps the network and ultimately helps your holdings, so it would be like paying a subscription fee to something sort of thing. Like paying someone to store your gold in a vault, but your miners are the vault.

Well, if you cannot do anything with your money and buy a miner that's costly, you can do that. But it's not the only way to help the network, run a node if you want to help. But spending a lot of money for miners, won't be worth it when the difficulty of mining keeps on increasing. Good for that solo miner and it might have been long for that guy until he got that reward. It's another lottery block for that person and I think I've seen the same stories for the past several years.

Yeah, these type of things happens time to time, there are people who solo mine and there are people who make money from it as well. I do not think they have only one machine though, I think they have multiple machines, it is just that they are one people, not a pool, that is the trick here. The solo miner getting the jackpot is fine, it is a good news, as long as this doesn't make anyone spend incredible amount of money for a very low chance of same result, then just promoting the benefits of mining and showing how someone got rich is fine.

Plus, as calculated above, in most cases, you can't even break for 4+ years in any normal case, only if you get lucky like this that you could actually end up making a profit from this.

[Mia Chloe]

On friday, luck smiled on a solo miner who solved block 888737 that contains 2327 transactions using DIY FutureBit Apollo machine. The solo miner went home with the 3.125 BTC block reward and an extra 0.032 BTC from transaction fees.
This is a major win for the solo miner considering that Bitcoin mining difficulty has gone as high as 112.15T, making it very difficult to compete with large mining pools with immense computational power.

It's quite crazy how this block reward plays out. The chances of a solo miner getting the reward is way too thin and that is basically the reason why most times when they consider who gets the reward they don't add solo miners to the probability. However luck being luck and probability being probability, a chance is still a chance no matter how thin.
I think this is one of the major reasons why solo miners still see mining as worth it even given the numbers of big pools out there and the hash rate they generate.

[NotFuzzyWarm]

Found the details of it in the Apollo support thread https://bitcointalk.org/index.php?topic=5340015.msg65194813#msg65194813  Was an underclocked S19 pointed at the Apollo I node.

[tabas]

At the end of the day if you care about Bitcoin you should be mining it even if you mine it at a loss, this helps the network and ultimately helps your holdings, so it would be like paying a subscription fee to something sort of thing. Like paying someone to store your gold in a vault, but your miners are the vault.

Well, if you cannot do anything with your money and buy a miner that's costly, you can do that. But it's not the only way to help the network, run a node if you want to help. But spending a lot of money for miners, won't be worth it when the difficulty of mining keeps on increasing. Good for that solo miner and it might have been long for that guy until he got that reward. It's another lottery block for that person and I think I've seen the same stories for the past several years.

Yeah, these type of things happens time to time, there are people who solo mine and there are people who make money from it as well. I do not think they have only one machine though, I think they have multiple machines, it is just that they are one people, not a pool, that is the trick here. The solo miner getting the jackpot is fine, it is a good news, as long as this doesn't make anyone spend incredible amount of money for a very low chance of same result, then just promoting the benefits of mining and showing how someone got rich is fine.

Plus, as calculated above, in most cases, you can't even break for 4+ years in any normal case, only if you get lucky like this that you could actually end up making a profit from this.

They'll have to pay for the cost of that solo miner, and that jackpot they get is probably enough to cover the next operation until they hit another block. That's very rewarding on their en,d but we don't know how long they have to wait until they get that. Or, there is really no timeframe for that and it just came by and they're lucky for getting it. These people are like doing it for hobby I guess and they understand that the bigger possibility that they only are wasting their resources.

[slaman29]

They'll have to pay for the cost of that solo miner, and that jackpot they get is probably enough to cover the next operation until they hit another block. That's very rewarding on their en,d but we don't know how long they have to wait until they get that. Or, there is really no timeframe for that and it just came by and they're lucky for getting it. These people are like doing it for hobby I guess and they understand that the bigger possibility that they only are wasting their resources.

Hobbyists. Its what I remember reading before about all these solo hits. They're just mining for fun, and they know the probability is low already, so they're not counting on it as income. Nobody lives and hopes he hits the lottery every few years or decades

That's one of the beauties of Bitcoin I tell people about. So many volunteers, even here on this forum

[fikrett]

Hobbyists. Its what I remember reading before about all these solo hits. They're just mining for fun, and they know the probability is low already, so they're not counting on it as income. Nobody lives and hopes he hits the lottery every few years or decades

That's one of the beauties of Bitcoin I tell people about. So many volunteers, even here on this forum

I do hope that's the case.

And it's great if it's seen only like a side hustle to support the network overall, not to grab the bags each time it's done