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Solo Miners: An Unrealistic Business Venture Amid Low Success Probabilities
The author has dismissed solo miners as a scam, citing the impossibility of verifying their operation and their extremely low probability of successfully mining a block. While building a miner based on the ESP32-C3 board is feasible, the chances of mining a block are astronomically small, approximately 1 in 80 trillion, which is practically negligible compared to GPUs like the RTX 4090, with a chance of about 1 in 7 million. The concept of attaching a monitor to an expansion board, creating a case, and selling it as a solo miner is considered a clever business idea. The author mentions that creating mining code and a display output takes about an hour, a task trivial for neural networks, implying that such an enterprise would be more for novelty than practicality.
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AI Analysis
The opinion emphasizes the highly improbable nature of solo mining success, especially with consumer-grade or DIY hardware such as the ESP32-C3. The calculations presented highlight the vast disparity...
AI Recommendation
Given the extremely low probability of success and the skepticism surrounding solo miners, it is advisable to approach such projects with caution. For individuals interested in mining, investing in hi...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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weak buy