How to become a Bitcoin Millionaire => http://goo.gl/8Xobwl
Solo Bitcoin mining just for luck, realistic?
Q:
Just turned my attention to mining and the concepts are quite new to me. First of let me clear: I realize that my hardware setup is far from ideal for mining. This is also the reason why I do not want to pool, I would simply provide a too small a share. I will be CPU mining at first, ASIC later on.
I would however like to test my luck. Mostly just for fun, I'm completely fine with the idea of never actually solving a block. I see it more as a lottery. I just want to confirm my idea so that I am not missing something: Do I have a chance of solving a block?
If a block is solved every 10 minutes, and the difficulty goes up continously. Do I even have the time to attempt a solution? I understand that the current work has to be abandoned when a block has been solved, rigth? Is there, for example, a lag here that yields my efforts useless?
What are the odds? Are the actually the % of my speed vs the network's?
Also, what win7 software do you recommend for CPU and ASIC mining?
A:
Check this page: How soon might I expect to generate a block?
So with the current difficulty 510,929,738, and a 1Ghash/s mining rig (faster than your CPU) you'd do this math:
510929738 * Math.pow(2,32) / Math.pow(10,9) / 60 / 60 / 24 / 365
So to find a block at this difficulty with a 1Ghash mining rig it would take you about 69 years on average. Good Luck!
PS: Math.pow(2, 32) is simply the JavaScript version of 2^32
