Can someone explain the “best difficulty” stat to me on a solo miner? #solomining #bitaxe #mining #data
Discussion
There's a difficulty target that's needed to find a block. Kind of a "high score." Right now about 108,110,000,000,000. If you beat that target, you've found a hash that mines the block. So the best difficulty stat is your miner's score. M for million, G for billion, T for trillion. If it says 6.53G, your "score" is 6,530,000,000. Big number, but not high enough to catch a block.
That is EXTREMELY simplified, but enough to get the idea. Look at the live logs on your Bitaxe and you can see the difficulty numbers in near-real time. The target shown there is much lower in order to measure your work for payouts when mining to a pool like OCEAN or Braiins, so not really applicable to a solo pool. For solo, it's beat the high score or don't. All or nothing.
Thanks for that explanation. So if my best difficulty since boot is 23.6M, I’m not even getting close?
Right. Give it time, though, and it will throw up a big one. To catch a block with a Gamma could take about 15,000 years as of right now. As total hash rate and difficulty rise, so does that estimate. Every day you play a 1 in 6,000,000 lottery. That's why I think the biggest value in them is in education. Bitaxe is the electronics and Bitcoin version of knowing where your food comes from.