Quote from: mikeywith on January 26, 2021, 04:21:14 AM

Quote from: digg_er on January 24, 2021, 06:36:13 PM

The most known lottery in Poland: you cross 6 out of 49 numbers. 6 are drawn from pool.
The chance for hitting all 6 is 1:13 983 816
You can win 2,5mln EUR

Bitcoin, chance of hitting a block a day with 70 Gigahash (I mine for fun with) is 1:14 993 148
You can win about 180k EUR

Actually buying a lottery ticket every day to win 2,5mln EUR is wiser.

A great analysis but I have reasons to believe that it's a bit far from accurate, the 1 in 13m chance you have with the lotto is once every week, while the odds for hitting a block which you mentioned is based on a shot every day, so for this to be a bit more accurate you need to multiply the lotto ticket cost by 7, and then if we were to assume that the average lifespan for the miner is 2 years, then you will need to multiply that by 730, so if the ticket price is 2$, you will pay $1,460 to match the number of trials that a miner can have.

I am aware that there are other prize catogires of 3,4,5 matches but I think the prize is too small ot be considered, you also need to keep in mind that when you hit a bitcoin block you keep all the rewards and nobody can share them with you, where in the lotto, you are subject to share the prize with x amunt of people, on the othre hand, playing the lotto means you won't have to pay the power bill, no matiance, no cleaning no dead PSUs or a firmware glitch.

There are many more factors invovled to determine which would be econcmically better, I don't have the time, skills nor the desire to do that in-depth analysis (pehabs someone who does play the lotto and solo mine at the same time can do it) but I do tend to agree that perbaps and most likely playing the lotto is cheaper than solo mining.

With that being said, Solo mining is way more fun!! Grin

hey mikey,

i dunno what crawled up your ego and died to make you such a technical negative "karen", but youve been a big ass debbie downer on simple solo mining questions asked here. you're starting to sound like another previous member who started their own mining site and only comes here to criticize the "not so experienced coder" members. please take your negative criticism to more advanced areas of this forum. we want simple stats, that say my puny 450Th will give me a
Chance per block: 1 in 376,480
Chance per day: 1 in 2,614
Time estimate: 7 years

thats enough info for us noobies.
thank you kind sir
please take it down a notch on your expertise
Wink