_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 4 down vote favorite 1 I know mining is extremely difficult now.I just wondering has anyone "won" by solo mining a block?How does the chances compare against say wining the lottery?Assume 3 Giga Hashes Per Second say.solo-mining mining-profitability up vote 6 down vote Unless the lucky winner were to announce his luck, there is no way for anyone to tell the difference.So, even if one cannot find any information suggesting that someone did, it could have happened.Blockchain.info gives the current hashing power as 47,289,554.08 GHash/s, so your chance to mine any one block would be 3/47,289,554.0 = 6.3439e-8.In Germany there is a popular lottery where you have to guess six out of 49 and one out of ten numbers.The chance of getting all seven numbers right is 7.1511e-8.So, the probability to win the jackpot is currently as likely as solo-mining a block with 3GHash/s.

Of course, the lottery has a bunch of smaller prices for getting it partially right, and the jackpot would be worth millions of Euros, not 25 BTC.But then, it is cheaper to play "Bitcoin lottery" and the draws are more frequent.Below an estimate of the chance to get one block out of a day's/year's worth of blocks (disregarding increasing difficulty): Altogether, it seems to me that regular lottery is more profitable, but then "Playing lottery is a tax for people that are bad at math.".up vote 1 down vote Currently network's capacity is about 41000000 Gh/s.In this case your odds is 3/41000000=0.00000007% For example, your odds to receive royal in hold'em flush is about 0.0002% So good luck!up vote 0 down vote Here is a real world jackpot!/index.php?topic=763510.msg13463822#msg13463822 Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.

Browse other questions tagged solo-mining mining-profitability or ask your own question.Welcome to NiceHash solo mining & blockchain lottery!Try solo mining with your miner or by renting hashing power on NiceHash and cross your fingers to get a full 12.5 Bitcoin, 25 Litecoin, dynamic Dash block reward!# Age # Age # Age NiceHash solo mining & blockchain lottery is an advanced multi-algorithm stratum based solo mining pool for Bitcoin, Litecoin, Dash.lekkerurlaub bitcoinYou can use it as a regular solo mining pool by connecting your miners to our solo mining stratum servers.bitcoin luchtbelMoreover you can also rent hashing power on NiceHash and point it to our solo mining stratum servers and play some blockchain lottery.mmj bitcoin

If you find a block, 99.5% of the block reward + transaction fees get generated directly at your address.Therefore there is no login, no need to worry about passwords, withdrawals, authentication or pool wallet hacks.No funds are kept by pool but are rather directly generated to your address.You remain anonymous apart from your Bitcoin/Litecoin/Dash address.All you need to confirm is that you are mining to your own address.Please note that if you do not find a block, you get no reward at all with solo mining.Connect your miners or rented hashing power from NiceHash to: :3334 for Bitcoin :3333 for Litecoin :3336 for Dash You should use you Bitcoin/Litecoin/Dash address as worker username and any password.You can add worker name by adding ".workername" at the tail of your Bitcoin/Litecoin/Dash address; example: If you enter an invalid address you will be rejected (authorization error).Make sure you use valid/existing address!Please see FAQ for more information and additional options.

Each time a new block is found a notification will be automatically posted to Twitter @NiceHashSolo; therefore you're welcome to follow us on Twitter @NiceHashSolo.Get started with Localbitcoins – easy way to buy small amounts of bitcoin with cash Bitcoin mining is making computers do complex math problems to help run the Bitcoin network, and miners are paid with bitcoin for contributing.Bitcoin mining itself is the process of adding new bitcoin transactions to the blockchain – the public ledger of all bitcoin transactions.A new block of bitcoin transactions is added to blockchain every 10 minutes and has been since bitcoin was created in 2009 by Satoshi Nakamoto.Whenever a new block is added to the blockchain, the bitcoin miner who successfully added the block is awarded newly generated bitcoins AND all the mining fees from people who sent a bitcoin transaction during that 10 minutes.Right now a new block rewards 25 new bitcoins, which is a ton of money!It is easy to start mining bitcoins but it can be very difficult to profit from bitcoin mining.

Bitcoin mining has become a lottery system for new bitcoins.Anyone mining bitcoins has a ‘Hash Rate’, which is a measurement of how many math calculations your computer is doing per second.Think of your hash rate as a ticket entry for the bitcoin lottery; increasing your computer hash rate, the number of math problems they solve, gives you a better chance at finding a bitcoin block and winning the free bitcoins!Every bitcoin miner in the world is competing to find the same blocks so anytime someone new starts mining bitcoins it becomes harder for every person in the world to find a block.Every two weeks the bitcoin network difficulty factor is recalculated to make sure that blocks are found on average every 10 minutes, the difficulty almost always goes up which means every day it becomes harder to mine bitcoins.Bitcoin has become so difficult to mine that the vast majority of miners join a bitcoin mining pool.A mining pool is a way for bitcoin miners to work together for a better chance at finding a bitcoin block.

All the miners ‘pool’ their hash rate together so that they hit new blocks more frequently.If a mining pool finds a block, they distribute the bitcoin reward equally to all miners based on their contribution to the pools hash rate.Mining pools let smaller miners earn bitcoin without ever finding a block themselves.Most mining pools have a small fee of 1-2% for hosting the pool.Before you dive into bitcoin mining you should come up with a plan to make it profitable.Some things you have to consider when mining: To mine profitably you need to increase your hash rate at a cheaper cost than other bitcoin miners.There are two costs involved, initial hardware costs for a bitcoin miner and ongoing electricity bills.You also have to consider your climate.Bitcoin mining hardware runs hot so you may have to spend additional electricity on cooling units.On the other side, if you live in a cold climate you can try to save money by mining bitcoins to help heat your house from the heat generated by the mining hardware.

When you are shopping for a bitcoin miner the manufacturer will give you all the basic information you need to calculate mining difficulty.From there you have to check your electricity bill to see how much you pay per watt, then you can use a simple bitcoin mining calculator.There are three ways to mine bitcoins: Mining rig rentals is a way to try out bitcoin mining by renting them by the hour from someone else who owns mining hardware.To rent a bitcoin miner just signup, choose your a rig to rent and point it at a bitcoin pool.Hardware mining when you buy your own bitcoin miner and set it up at home or in a warehouse.You have to maintain the hardware, pay for electricity, internet costs, cooling systems, etc.  Most users buy a bitcoin miner and join a mining pool.Cloud mining is a service where an experienced company will maintain all the hardware for you, all you have to do is pay by hash rate.There is a lot of fuss over cloud mining because many bitcoiners think it is a scam, which it very well could be.