When solo mining, if I want to spend some coin on a 5 ph rental, that would give me a probability of hitting a block in 48 hours correct? By sending around 213 b shares. in case that I "start from zero"
Every given hashrate has an
on average range/time-frame to find a block. Luck (good or bad) determines if that average is based on 5 shares or 5 years of shares.
Solo becomes a gamble because all of the following equal 1 block every 48 hours* (
on average):
- mine for 48 hours and find just 1 block on hour 48
- mine for 48 hours and find just 1 block on hour 1
- mine for 48 days and find 24 blocks on day 48 (and 0 blocks any other day)
- mine for 48 years and find a block every other hour during years 47 and 48 (and 0 blocks any other year)
*numbers likely off but true enough to make valid point