- Solo Mining: Expectations vs. Reality
- Historical Context of Solo Mining
- Role of Solo CK Pool in Supporting Solo Miners
Solo mining is often deemed a fool's errand due to extremely low odds of success. Nevertheless, solo miners have demonstrated remarkable luck in the past six months, successfully mining 11 blocks.
Solo Mining: Expectations vs. Reality
Historically, the odds of solo mining successfully were 1 in 1.4 million. Solo miners were expected to find one block every 10 months. However, in the past six months, they managed to mine 11 blocks, defying this long-term trend.
Historical Context of Solo Mining
Solo mining has always been considered a mathematically irrational endeavor. Most miners join large pools which provide predictable returns and higher chances of rewards. Solo miners defy these giants and have mined 275 blocks since 2011, predominantly through the Solo CK Pool.
Role of Solo CK Pool in Supporting Solo Miners
The Solo CK Pool operates differently from traditional mining pools. Miners using this service pay 100% of their own costs and receive 98% of the block reward, minus a 2% fee. Despite financial and operational challenges, the recent successful run of solo-mined blocks highlights the unpredictability of the Bitcoin network and the resilience of those who choose to go it alone.
The latest accomplishments of solo miners show that even with low odds of success, persistence and dedication to one's chosen path can yield unexpected results.
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