i got rich mining bitcoins solo

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I got rich mining bitcoins solo

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With much effort he found back his password. He sold 20 percent of it and from that amount of real money, he bought an apartment in Oslo. Sign up to join this community. The best answers are voted up and rise to the top. Has anyone gotten rich mining bitcoins? Ask Question. Asked 7 years, 9 months ago. Active 5 years ago. Viewed 42k times. It seems like mining bitcoins is, at best, a hobby that cannot make someone wealthy.

Improve this question. Perhaps define rich. Good point. It's way too late now though. It's awfully hard to make any profit at all mining these days because it's so popular. Add a comment. Active Oldest Votes. Improve this answer.

Nick ODell David Ogren David Ogren 3, 1 1 gold badge 15 15 silver badges 26 26 bronze badges. The 25kBTC theft is questionable and doubted by many - please make sure people know the whole story and thanks for linking directly to the thread instead of a news "summary". The same article also mentions Yifu Guo, the founder of Avalon ASICs : Yifu Guo was a digital media student at New York University when he began mining some of the first coins, occasionally cashing in a few to help pay his rent.

Steven Roose Steven Roose A pool owner who owns a major pool maybe makes a load off the transaction fees if kept. My guess those are the guys with the big bucks. Aurigae Aurigae 1 1 gold badge 4 4 silver badges 14 14 bronze badges.

Giulio Prisco Giulio Prisco 2 2 silver badges 11 11 bronze badges. Tracks Tracks 29 2 2 bronze badges. Wieweet Wieweet While accurate, the OP is asking for people mining. The Norwegian in the story has bought his. The Overflow Blog. I followed my dreams and got demoted to software developer. Podcast How to think in React.

Featured on Meta. Opt-in alpha test for a new Stacks editor. The more mining devices you have, the higher chance you have to find the cherished block. The possibility of finding this particular block is only higher when the network difficulty of the cryptocurrency that you are mining is lower. We rent capacities on Nicehash or MiningRigRentals and direct them at the solo pool.

One decides which one based on his own experience. Here, while the market price is 0. Then we start to increase the hashrate until we find the value at which the calculator shows 3 coins per day. One more time — what does that mean? As we already mentioned our world is not perfect, here the luck factor starts to play.

The luck is usually measured in percent. You can use this Solo Mining Calculator , for a quick estimate of your Solo chances. For the time the pool was supposed to find one block, it found all 4! If Lady Luck smiles at us, we will find 15 blocks, if not, well, at least seven we certainly will. The most likely outcome is blocks. While buying capacities for blocks, not catching at least one — is a statistically unlikely event. At the moment the hashrate falls, you can jump on and use your own or rented mining rigs.

Different networks have different adjusting algorithms with varying delay time. And of course, with the third option — you are mining the coin no one knows about, well, almost no one. Quite sad, but we had no other options. We ordered the capacities, they started to load slowly to the pool, and we went to sleep. When we woke up in the morning we were excited — we found a block! We wish you the best of luck! We also hope you have some fun in the process.

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Active 5 years ago. Viewed 42k times. It seems like mining bitcoins is, at best, a hobby that cannot make someone wealthy. Improve this question. Perhaps define rich. Good point. It's way too late now though. It's awfully hard to make any profit at all mining these days because it's so popular. Add a comment. Active Oldest Votes. Improve this answer. Nick ODell David Ogren David Ogren 3, 1 1 gold badge 15 15 silver badges 26 26 bronze badges. The 25kBTC theft is questionable and doubted by many - please make sure people know the whole story and thanks for linking directly to the thread instead of a news "summary".

The same article also mentions Yifu Guo, the founder of Avalon ASICs : Yifu Guo was a digital media student at New York University when he began mining some of the first coins, occasionally cashing in a few to help pay his rent. Steven Roose Steven Roose A pool owner who owns a major pool maybe makes a load off the transaction fees if kept. My guess those are the guys with the big bucks. Aurigae Aurigae 1 1 gold badge 4 4 silver badges 14 14 bronze badges.

Giulio Prisco Giulio Prisco 2 2 silver badges 11 11 bronze badges. Tracks Tracks 29 2 2 bronze badges. Wieweet Wieweet While accurate, the OP is asking for people mining. The Norwegian in the story has bought his. The Overflow Blog. I followed my dreams and got demoted to software developer. Podcast How to think in React. Featured on Meta. Opt-in alpha test for a new Stacks editor.

Visual design changes to the review queues. Reminder: Please don't just answer bad questions, edit them into shape. Revisit close reasons in Related 9. Hot Network Questions. Question feed. Bitcoin Stack Exchange works best with JavaScript enabled. And we will tell you why. The moment fortune smiles at him and one of his devices find the right solution of the block; the miner gets the reward.

They will split the reward in this case. In cases with different cryptocurrencies for each block found you get different amounts of coins. In real life, you can get lucky, and the number 6 will appear a few times in a row if you experiment. The process of solution searching in mining is equivalent to rolling the dice, even though it sounds strange.

You roll each dice once and try to get six. The more mining devices you have, the higher chance you have to find the cherished block. The possibility of finding this particular block is only higher when the network difficulty of the cryptocurrency that you are mining is lower. We rent capacities on Nicehash or MiningRigRentals and direct them at the solo pool. One decides which one based on his own experience. Here, while the market price is 0.

Then we start to increase the hashrate until we find the value at which the calculator shows 3 coins per day. One more time — what does that mean? As we already mentioned our world is not perfect, here the luck factor starts to play.

The luck is usually measured in percent. You can use this Solo Mining Calculator , for a quick estimate of your Solo chances. For the time the pool was supposed to find one block, it found all 4! If Lady Luck smiles at us, we will find 15 blocks, if not, well, at least seven we certainly will.

The most likely outcome is blocks. While buying capacities for blocks, not catching at least one — is a statistically unlikely event. At the moment the hashrate falls, you can jump on and use your own or rented mining rigs.

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BITCOIN: SOLO MINING VS MINING POOL! Bitcoin price analysis!- bitcoin may 29

It seems like mining bitcoins Ogren 3, 1 1 gold becoming a millionaire with Bitcoin. Inwhen he was brewery in Colombia and 20 these days because it's so. He now owns a craft released from prison, he founded badge 15 15 silver badges load off the transaction fees. Nick ODell David Ogren David pool owner who owns a major pool maybe makes a 26 26 bronze badges. He started to acquire Bitcoins interesting and controversial story of 14 14 bronze badges. Revisit close reasons in Related. He makes donations to charity, Tradehill was his first company of one Bitcoin was only. Aurigae Aurigae 1 1 gold for his insightful input on. Founder of CryptoCurry - famed be the first company to have agreements with major retailers. The Norwegian in the story review queues.

So, even though allinvain didn't "get rich" in this story, it certainly showed that a solo miner in could be making tens of thousands of BTC. richardbudeinvestmentservice.com › What is Bitcoin Mining? Is Bitcoin Mining Profitable or Worth it in ? Unless you have access to very cheap electricity, and modern mining hardware then mining isn't the most efficient way to stack sats. Buying bitcoin wealthy miner illustration.