Post
Topic
Board Bitcoin Discussion
Re: What are the odds to never mine a block with 500Mh/s solo?
by
TheVirus
on 25/06/2011, 01:06:49 UTC
My result: 70% to never mine a single block ever.
If you take "ever" as in "in eternity", you have a probability of 100% to mine a block, hell, you're even 100% likely to mine 1000 blocks with only 1 hash per second!

Please specify a REAL timeframe like "within the next 5 years", not infinity!

Not true as there's a finite number of bitcoins.

But not a finite number of blocks.  After we stop minting coins, there will still be new blocks with transaction fees.

True, but I was under the assumption he meant a block that produces a BTC prize, not a fee.

You don't get charged a fee for generating a block in the future.  YOU get awarded the fee, so it's still a BTC prize.

I know, it was a poor choice of wording on my part.