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I've configured the large (8x) GPU image on AWS at 2.60/hour. I ran it goes few hours after setup and mined nothing.

This was my first foray into mining.

Does this size instance give me a reasonable chance of being able to successfully mine? Or am I so underpowered that the probability is too small?

It may also be that I don't fully understand the concepts so feel free to tell me so :)