Lucky solo bitcoin miner beats 1-in-82-year odds to win $285,000 block reward \ stacker news ~bitcoin

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Lucky solo bitcoin miner beats 1-in-82-year odds to win $285,000 block reward www.theblock.co/post/382346/lucky-solo-bitcoin-miner-beats-odds-wins-block-reward

300 sats \ 22 comments \ @0xbitcoiner 12 Dec bitcoin_Mining

A solo bitcoin miner beat staggering odds to solve a block and take home the full subsidy and transaction fee rewards late Thursday.

The miner collected a total of 3.133 ($284,633) for mining block 927,474, using solo bitcoin-mining software from CKpool, according to the Bitcoin explorer Mempool. This comprised 3.125 BTC in block subsidy rewards ($283,944) and 0.008 BTC ($689) in transaction fees.

"Congratulations to miner 1Ng9~VoQz with 270TH for solving the 311th solo block at solo.ckpool.org!" CKpool developer Con Kolivas posted on X. "A miner of this size has a 1 in 30,000 chance of solving a block per day." This equates to roughly once every 82 years.

...read more at theblock.co

~bitcoin

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72 sats \ 10 replies \ @DarthCoin 12 Dec

@siggy47 why don't you mine solo ?

42 sats \ 9 replies \ @siggy47 12 Dec

I like getting my sats regularly. I guess I'm not a gambler at heart. But, I am thinking of setting up one of my bitaxes to solo mine just for the hell of it. That term "lottery miner" makes me think twice. My father always called the State Lotteries "The Stupid Tax." He would say "what? The government doesn't tax us enough? They have to screw the stupid even more?"

36 sats \ 1 reply \ @winteryeti 22h

I got a Bitaxe. Set it up to run and now I ignore it. As my parents always said, you can't win the lottery if you don't buy a ticket. I've won it once with an airdrop years ago, mebbe I'm due for a 2nd one.

0 sats \ 0 replies \ @siggy47 22h

Maybe. Good luck.

36 sats \ 4 replies \ @DarthCoin 12 Dec

you are not getting too much anyways with a bitaxe. I think it worth it solo mining just for fun. I would not call mining solo a lottery. A lottery indeed is a tax for stupidity, but is a lottery where you go and buy a lottery ticket from a scammer and repeat that over and over.

Mining is something else.

21 sats \ 1 reply \ @itsrealfake 19h

Mining is something else.

allegedly you're contributing to the network.

but allegedly the lotto pays for civic projects

21 sats \ 0 replies \ @DarthCoin 18h

the lottery tickets will only feed human greed, a stupid idea that someday somehow you will get a shit ton of fake money. There's NO any PoW in buying some tickets willing to win.

The mining is something noble, even that your chances are very few to earn something. But when you find that block, your hard work is worth it, not just because you earn the reward, but is that you also secured the network. Is a real PoW.

I was also mining back in 2012-2015 and I will mine again when I will be ready.

21 sats \ 0 replies \ @openyoureyes 12 Dec

A fair lottery. Like 100 people bet a dollar and one wins 100. All other loose. We all compete with the amount of our hashrate to win the next block. The possibility of winning is proportional to the amount of hashrate but based on pure luck. Like a lottery where the hashrate are tickets. Best way to explain it simple.

21 sats \ 0 replies \ @siggy47 12 Dec

Yes, you're right. Solo mining helps the network. I have a couple of different miners now, and I'm mining in two different geographic places. For the low hash rate bitaxes, I should solo mine. I never set them up for pool mining anyway. I'm not using them (I have two) right now.

62 sats \ 1 reply \ @nikotsla 12 Dec

The new nerdaxe software has a nice feature to "split" the hashrate between two pools, you could split 80% to pool mining and 20% to solo for example.

0 sats \ 0 replies \ @siggy47 12 Dec

That's a good idea.

33 sats \ 4 replies \ @grayruby 12 Dec

This seems to happen way more than the odds should permit.

70 sats \ 2 replies \ @0xbitcoiner OP 12 Dec

Looking at these numbers, it seems like we’re getting news of more than one block mined per month. That’s pretty big compared to the theoretical odds.

https://mempool.space/mining/pool/solock

33 sats \ 1 reply \ @grayruby 12 Dec

Yes. Seem to see news of solo mined blocks pretty often lately. Maybe just a lot more solo miners than I thought. When you think about it. If the odds were 1 in 82 years, you only need 1k solo miners at this level of hash to hit a solo block a month.