Yes, they do. If the old PC can only generate 1 block in 48 hours and the super fast modern PC can generate 1 block in 12 hours, then statistically, the old PC is 4 times as slow as the modern PC during coin generation. The difference is the luck factor. It's possible that the old PC will find a crypto solution by pure luck in less time. So it's possible that the old PC finds one in 2 hours while the super fast PC has to burn through the entire brute force before finding a block in 12 hours. So the advantage is the odds. Simplified of course, but yes, the faster PC gives you a 1 in 12 chance to get the solution and the old PC gives you a 1 in 48 chance (again, way over simplified example)
So the faster PC is like having a few extra lottery tickets
So the faster PC is like having a few extra lottery tickets
Given our sample size of 67082 runs, I think that luck is ironed out by statistics at this point. Finding a crypto solution by "luck" would imply that the machines began the calculations at a different starting point in instruction sequence, wouldn't it? However, if my machine does, say, 100MFLOPS, and begins a 10-trillion operation procedure to decode a block, and another machine with 1GFLOPS begins the same procedure at ANY time when I'm not 90% done with the process, then the faster machine will always finish faster, will it not? These are deterministic machines working on deterministic problems, with finite starting and ending points and X number of steps in between....I fail to see where luck comes in to play.
On the other hand, as I have a rather slow (but not ancient) laptop, I'd LIKE to see how luck comes into the equation...so if anyone can fill me, in, please do so.
One question...Do machines cease work on a block upon discovery that it has been finished first by someone else, or does everyone keep working on a block until he/she is done? In this case, it is conceivable that if I happen to start the next block at the right time, I could "by luck" finish first...on the other hand, if machines all discard their current block when it is finished by someone else, then everyone is beginning the blocks at roughly the same time, and the fastest machines will win almost universally. Anyone care to shed any clarity on the situation?