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Yes, mining is probabilistic. The more hashing power you have the more quickly you're likely to mine a block, but it could take more or less time depending on l
by tlrobinson 13y ago
Yes, mining is probabilistic. The more hashing power you have the more quickly you're likely to mine a block, but it could take more or less time depending on luck.
Most miners now participate in pools, which smooths out your returns by working together to mine blocks more regularly, which are then distributed based on the amount of work each miner contributed.
If you "solo mine" it might take, say, 1000 days to mine a block, but if you pool mine with 1000 other miners it might only take 1 day, giving you 1/1000 of a block reward each day (minus pool fees), vs 1 whole block reward every 1000 days (on average).