5 bitaxes mining for 5 days still hasn't even found 1 testnet4 block If you want to get a sense of how useless these devices are
They’re at best added security to the network…at worst a novelty to experience / learn bitcoin mining at home. Enjoy it for what it is!
But, funzies!
I find ur optimism refreshingly infuriating 🫡🫡👊🏽 https://image.nostr.build/24b9775f518b9e3c2391f136c587ea7755fd277cf1b3533fe281f8f6f13f2fe9.jpg
Cry in the Dojo, Laugh in the Battlefield of Nostr.
Only in silence can we hear the master speak😉 https://m.primal.net/KfiJ.jpg
but they look good doing it https://i.nostr.build/5T21g1GbS0yX2cyB.gif
Bitaxe: $200/TH S9: $7.25/TH That's all I needed to know.
Add energy consumption into your equation
[I apologize in advance for this wall of text, but I wanted to do my best to be thorough.] Assuming both miners are being run at full power: A Bitaxe running for a full day would generate 60,480 TH and consume 0.384 KWh. At my ~$0.14/KWh, this would cost me $0.048/day. To generate 60,480 TH, I would need to run an S9 for 1.244 hours each day, consuming 1.711 KWh. At my cost/KWh, this would cost me $0.23 per day ($0.182/day more than the Bitaxe. At presenr, I am able to find the Bitaxe on sale for $200, and am able to find an S9 in decent condition for $75, the price delta between these is $125. Were I to purchase both miners today at the prices I found and listed above, I would need to run the both (the Bitaxe 24/7, and the S9 1 hour/day) for 686 days before the increased power efficiency of the Bitaxe made up for its greater initial capital expense. Bear in mind that in this model, the Bitaxe is running 24/7, and the S9 is only running 1 hour a day to match the TH output of the Bitaxe. If I wanted to, I could opt to pool those 686 cumulative hours the S9 would require, and run them consecutively, immediately after acquiring the miner. I could then leave it off for the remaining 657 days in this model, betting on network hashrate increasing and my rewards/TH dropping over time. https://image.nostr.build/24944b63862fc068a3c58a77b59718154f6893adce100bc5d15cb9f3eb72bd56.jpg
This is the wrong metric. You should compare the cost of J/H Bitaxe is way more efficient. But the S17 is not far behind and WAY more bang for the buck...
It's not when you WANT heat. It's gonna be getting cold here soon and I'm gonna be hashing to heat my RV.
Here a model using the Bitaxe and the S9. I opted to use KWh over J, as no one is using Bitaxes for heat, so I though just focusing on energy efficiency was a better angle. nostr:nevent1qqs23sjxyw26mj4ceh0w29p4yhr49exen288y5mkqkzxseplf00mlvgpr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgsxy0kjrr0gzvghsdjk0q7kee5sk5s638zdcz0j393wt075lf2fyjgrqsqqqqqp7rvmq7
Testnet4 has a hashrate (MA) of 296 TH/s 5 Bitaxe supras would be around 3 TH/s 5 days would be quite lucky
If I have 1% of the hashrate shouldn't I expect over a block per day of the ~144 blocks mined?
How do you calculate the hashrate of testnet4? Because what is shown on pools (like testnet.vkbit) and 'getmininginfo' RPC is completely wrong. This is because people mine future blocks with their CPU, so there is a lot of "difficulty 1" blocks, which completely messes up the hashrate calculation. If you want to calculate the chance of hitting high enough difficulty requirement, you should only use that. e.g. P (probabilty) = 1 / (difficulty * 2^32). You can get the difficulty from a block that has difficulty > 1 (most blocks on testnet have difficulty "1" because they set the time of the block (nTime) to 'last block + 20 minutes', and then use CPU (or bitaxe or whatever) to immediatly hash that block.
I don't understand how that future thing works. Does that mean I would have equal odds using a cpu as an asic?
testnet3 and 4 have a rule: when the 'nTime' of a block is larger then the nTime of the last block + 20 minutes, the difficulty drops to 1. This means that anyone (cpu/gpu/asic) can easily mine it, because the difficulty is 1. So you can construct a block with a 'fake' nTime in the future (at least 20 minutes more then the last block), and instantly mine it. There is a limit to this (else you can keep moving nTime more and more in the future). The limit is another rule: nTime of block cannot be later then last block + 2 hours. So it's possible to always mine 5 blocks into the future. This is being done a lot on testnet (because it's an easy way to get some coins without waiting to actually mine it).
yeah, probably better to buy a bit-chainsaw or a bit-bandsaw, or a bit-chipper
also a bit-cheaper would be fine
They are not useless in my opinion, they are useless right now because the mining industry is corrupt. But if each individuals ran a bitaxe for the simple aspect of decentralization... It would still be unprofitable 😄. But thats how it is, its just a lottery
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