Still no coins after 68 hours and approx. 1,000 approved hashes?

[infinitevs]

I started mining using GUI miner on Thrusday afternoon. It said it was working fine. It had 24.5 Mhashes a second. I went out over the weekend and have just come back on Sunday night and still have no coins. What am I doing wrong?

Cheers, Sean

[mewantsbitcoins]

if you went solo it will take you approximately 313 days to get your first 50 BTC
http://www.alloscomp.com/bitcoin/calculator.php

[kokjo]

I started mining using GUI miner on Thrusday afternoon. It said it was working fine. It had 24.5 Mhashes a second. I went out over the weekend and have just come back on Sunday night and still have no coins. What am I doing wrong?

Cheers, Sean

nothing, but it takes appox. 319 days to mine a block at that rate

source: http://www.alloscomp.com/bitcoin/calculator.php

[compro01]

if you want to get anywhere with that amount of hashing power, you need to join a pool.

popular ones are slush's pool, deepbit, btcmine, and eligius.

[infinitevs]

Okay so I am a bit confused here, somewhere it said 20 Approved hashes = 50 Bitcoins,  how do approved hashes @ difficulty of 1 (in solo mode) relate to bitcoins?

[compro01]

Okay so I am a bit confused here, somewhere it said 20 Approved hashes = 50 Bitcoins,  how do approved hashes @ difficulty of 1 (in solo mode) relate to bitcoins?

1. no idea where you found that.  only thing i can think of that resembles that is the 120 block maturation (you don't receive the reward for a block until 120 blocks have been added to it past your block) for block rewards.

2. they don't.  difficulty 1 hashes don't have any real relationship to a solo mining payout.  only pooled mining really makes use of that.

[foo]

Okay so I am a bit confused here, somewhere it said 20 Approved hashes = 50 Bitcoins,  how do approved hashes @ difficulty of 1 (in solo mode) relate to bitcoins?

The current difficulty is 157426. This means that on average you'll need to find that many difficulty 1 hashes in order to hit one that generates a block. Note the "on average" part though, it could be 1 hash or a million, but the average in the long run will be around 157K. Unfortunately though, the "long run" isn't very long, the difficulty is going up by about 40% in a few days.

[Ian Maxwell]

Infinitevs, at the speed you're dealing with it may be marginally profitable for you to mine (I haven't done the computation), but it's probably not worth putting in a lot of effort. Join a pay-per-share pool like Deepbit or the variance will make you crazy.