1Th/s solo mining... worth it?

[zk85]

I am VERY new to bitcoin mining, I just wanted to ask how successful would a 1Th/s mining machine be at doing solo? how often do you think it would be able to find a block and how less would that get in a years time do you think (date needed for upgrade)?

I am not looking for money to live off of, cuz I doubt that would be possible with 1Th/s anyways, but just a bit of cash to splash around after it covers cost (got a very good deal on the machine but havent bought it yet).

[sbogovac]

Not concidering difficulty changes and next years block reward halving it would take you an average of approx. 8 years to find 1 block.

[quakefiend420]

Current diff you're looking at 2309 days, 7 hours, 27 minutes, 3 seconds

EDIT: beat me to it!

[zk85]

Lol thanks guys...

so in other words...its useless? 


well what if it was used on one of those pool sites? how much do u think I can make with a 1th/s? (lets forget about electricity cost for now)

[TookDk]

I could give you a estimate...

But as you want to be a miner, I will not be doing you a favor by doing it for you, you need to learn the basics to make your own projections:)

Try one of these classic calculators:

https://tradeblock.com/mining/    (use to be mining.thegenesisblock.com)

or

https://bitcoinwisdom.com/bitcoin/calculator

[ezeminer]

well you have like a 1/320,000 chance to solve a block, Based on your hash rate compared to the network. It is like a lottery so you could be extremely lucky, or waiting as one guy said, 2300 days

[zk85]

I could give you a estimate...

But as you want to be a miner, I will not be doing you a favor by doing it for you, you need to learn the basics to make your own projections:)

Try one of these classic calculators:

https://tradeblock.com/mining/    (use to be mining.thegenesisblock.com)

or

https://bitcoinwisdom.com/bitcoin/calculator

Not sure if I want to be a miner yet... Trying to find if it is worth getting into.

but thanks

[zk85]

well you have like a 1/320,000 chance to solve a block, Based on your hash rate compared to the network. It is like a lottery so you could be extremely lucky, or waiting as one guy said, 2300 days

LOL with my luck? forget about it lol

I wonder if it would be worth it with one of them pooling websites... I just wanted to know roughly how much one can make a month with such a machine on average to understand if its a good investment or not

[CanaryInTheMine]

I am VERY new to bitcoin mining, I just wanted to ask how successful would a 1Th/s mining machine be at doing solo? how often do you think it would be able to find a block and how less would that get in a years time do you think (date needed for upgrade)?

I am not looking for money to live off of, cuz I doubt that would be possible with 1Th/s anyways, but just a bit of cash to splash around after it covers cost (got a very good deal on the machine but havent bought it yet).

Not worth mining solo if your goal is to get some btc at some point.  If you don't care about getting rewarded, nothing wrong with solo mining.  Otherwise, mine at a pool not solo.

[FaSan]

Current diff you're looking at 2309 days, 7 hours, 27 minutes, 3 seconds

EDIT: beat me to it!

bitsolo pool, a 1.5TH miner founded a block :


https://twitter.com/BitSolo1/status/566911072750534657


http://bitsolo.net/pool-stats/





FaSan

[Meech]

Even though the rewards don't often pay for the pud bill it's a fun hobby for sure.  I love getting payouts even small ones.  If you want spending cash now probably isn't the best time.  Good Luck!

[philipma1957]

I am VERY new to bitcoin mining, I just wanted to ask how successful would a 1Th/s mining machine be at doing solo? how often do you think it would be able to find a block and how less would that get in a years time do you think (date needed for upgrade)?

I am not looking for money to live off of, cuz I doubt that would be possible with 1Th/s anyways, but just a bit of cash to splash around after it covers cost (got a very good deal on the machine but havent bought it yet).

what machine?
 what price?
what does your power cost?

A free pair of s-3's zero cost with a free psu zero cost.

Will lose money if your power is not cheap.

Why the s-3 uses .8 watts per gh. and that loses money if power costs you 14 cents a kwatt.

[Rabinovitch]

Not concidering difficulty changes and next years block reward halving it would take you an average of approx. 8 years to find 1 block.

Oh, you never know that. It can take 8 days or 8 weeks too.

[Rabinovitch]

Current diff you're looking at 2309 days, 7 hours, 27 minutes, 3 seconds

EDIT: beat me to it!

Well... If you should SOLVE the block - maybe... But ain't we talking about FIND a block?.. My S2 found a block (in a pool working unfortunately) after about 2 monthes last year.

[sidehack]

I've been mining with between 1 and 6TH for most of the last year and have yet to witness a share greater than 4.6B
Meanwhile, one of my hosting customers' Prismas pulled a 31G share and the following week one of his Dragons found a block (the day after he sold it and pointed it to someone else's pool). I know a guy that found a block on a USB BE which had been running on his workbench for about half an hour when the diff was already over 100M.

Luck is very blind, but low probabilities are low probabilities and every single hash is an independent event so the odds do not accumulate over time.

[zk85]

I am VERY new to bitcoin mining, I just wanted to ask how successful would a 1Th/s mining machine be at doing solo? how often do you think it would be able to find a block and how less would that get in a years time do you think (date needed for upgrade)?

I am not looking for money to live off of, cuz I doubt that would be possible with 1Th/s anyways, but just a bit of cash to splash around after it covers cost (got a very good deal on the machine but havent bought it yet).

what machine?
 what price?
what does your power cost?

A free pair of s-3's zero cost with a free psu zero cost.

Will lose money if your power is not cheap.

Why the s-3 uses .8 watts per gh. and that loses money if power costs you 14 cents a kwatt.

http://imagize[Suspicious link removed]ageshack.us/v2/1280x1024q90/631/dEpHlp.png

1TH/s Machine
650 dollars
electricity is 0.08 USD per KWH

[sbogovac]

No!!! $650,- for 1TH is way overpriced...

[Rabinovitch]

Hashcoins wants even 750 USD for their Apollo...

[zk85]

No!!! $650,- for 1TH is way overpriced...

it is? and here i thought i was getting a deal thanks lol

whats a good price and what company?

[sbogovac]

If you want new, go by Bitmaintech: https://bitmaintech.com/productDetail.htm?pid=000201412231604153619o9X1obn0693

Second hand, use this site's marketplace (or Ebay) and a trusted escrow service...

For (less than) $650,- you should be able to get 3 Antminer S3's with PSU's averaging 1,4TH...