The better thing to find out is how many people need to run bitaxes for the solo miners to have a significant chance, like 5%, to mine a block every ten minutes. How many bitaxes for every 1 in a 1000, 500, 100, 50, etc. blocks to be solo mined?
To be 5% of the network youd need 50 million bitaxes.
Me and my homies are covering .0000006% of the network.
I did some quick rough math, and came up with the following. For a bitaxe to find a block once in each interval, you'd need somewhere around the listed number of bitaxes on the network with the current hashrate.
1 block per day - 5 million Bitaxes
7 days - 700 thousand
30 days - 160 thousand
1 year - 15 thousand
How many bitaxes are out there now? Maybe a few hundred to a thousand or so? And we're only adding more.
If you ain’t solo mining you ain’t living
Oddbean new post about login | logout