Post
Topic
Board Bitcoin Discussion
Re: What are the odds to never mine a block with 500Mh/s solo?
by
iya
on 25/06/2011, 01:14:13 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.

Not true, as the 8 decimal places are just a convention but can easily be extended, so mili-Satoshis etc. are being mined and probably even generated. There will never be 21 Million BTC (or more) in not-infinite time frames, only 20999999.999.....

Not completely true, either.
At least according to the current code, the first block which does no longer award even a single satoshi, will be block 6930000 = 210000 * 33, mined in ~2140.