Quote from: xhomerx10 on January 16, 2017, 01:17:56 PM

Quote from: AsdQ89 on January 16, 2017, 09:59:58 AM

Ok, so for a newbie in this mining pool buisness, this is what I would love to know:

1) What is Pool luck?
2) How is it calculated?
3) What does it mean for a potential miner/invester in that pool?

Further questions, if any, will be added below.

1) mining is probabilistic in nature, if you find a block earlier than you statistically should on average you are lucky if it takes longer, you are unlucky
2) not possible to ELI5 - Cumulative Distribution Function requires advanced mathematics
3) nothing as it is random and unpredictable - though if it is continually unlucky perhaps you should avoid the pool

Many thanks for the great reply, already learned alot.

Now for the follow up question:

4) How often should a pool statistically find a block, or how long is the statistic time between each block?
5) How is a pool defined as unlucky/lucky?