In the dark depths of a bitcoin mining pool, thousands of miners work to solve blocks. But one miner has defied these odds to win over $17,000 in bitcoin lottery jackpots. Why did he succeed and how can we learn from his success?
The “bitcoin solo mining opportunities” is a story about a small Bitcoin miner, who defies huge odds to solve a valid block.
Solo CK mining group’s sole Bitcoin miner overcame the odds by successfully adding a new block to the Bitcoin network and earning 6.25 BTC ($266,000) in reward.
The lucky miner, who might only be using one or two computers, used their meager hashrate power of 126 TH/s to solve a blockage. It is equivalent to about 0.000072 percent of the entire Bitcoin (BTC) network hashrate, which is 175,000,000 TH/s (175 EH/s), according to a tweet from Solo admin, Dr. Con Kolivas, on January 11.
Hass McCook, a member of the Bitcoin Mining Council (BMC) and a bitcoin mining specialist, told Cointelegraph that he had never heard of anything similar and that to suggest it was unusual would be an understatement.
According to him, having 0.000072 percent of the hashrate usually indicates that Solo CK will win 1 in 1,400,000 blocks, or 0.000072 percent of all blocks.
“Even transaction settlement in Bitcoin is probabilistic. The less likely your transaction is to be reversed, the more confirmations you will get on it.
Related Article: A Beginner’s Guide to Mining Bitcoin
McCook said the miner was only able to operate one device. Solo CK may have even mined with just one overclocked rig as the Antminer S19 has a 110TH/s capacity! It was probably 5 or 6 Antminer S9 devices. In any case, a miner could very well be the culprit, he said.
The number of hashes, or mathematical equations, that a computer can solve per second is called the hash rate. On average, a new BTC block is created every 10 minutes. dr. Con Kolivas calculated that the chance of discovering a block with that is only one in 10,000 each day, but he also noted that the miner was unlikely to repeat the feat.
For the miner involved, it’s a once-in-a-lifetime opportunity, Kolivas said.
Even the smallest miner can solve a blockage, despite the fact that larger miners often do so statistically.
He saw that about a year earlier, an underage miner had broken a block in his swimming pool.
Related Tags
- solo mining bitcoin 2021
- bitcoin solo mining lottery
- solo bitcoin miner
- btc miner accumulation
- requirements for bitcoin mining
