Ask Question. Asked 7 years, 4 months ago. Active 4 years, 10 months ago. Viewed k times. What are the odds? Improve this question. Isac Isac 1 1 gold badge 3 3 silver badges 8 8 bronze badges. Add a comment. Active Oldest Votes. PS: Math. Improve this answer. Luca Matteis Luca Matteis 4, 14 14 silver badges 21 21 bronze badges. Where 69 years is the expected time , it could be much quicker with luck, but likely much longer because the difficulty its constantly increasing meanwhile.
Thank you. One more thing, is theory and practice the same thing in this case? Isac: In theory, theory and practice are the same. As dam close as.
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Don't use your CPU, use the electric bill your running up to go buy lottery tickets instead, better odds. CPU is as you say, very useless. Show 2 more comments. Tim S. Lottery ROI is consant. Bitcoin difficulty is not. TimS, but surely there's a minimum amount of computational power you need before you can even "take part in the bitcoin mining lottery" right? Pacerier There is a minimum. I'd estimate 10 minutes per hash as the minimum to participate: you could do approx. There is a chance that hash is the right one! You've played the lottery.
May 22 '14 at Pacerier note that there is no hard minimum.
DIY Bitcoin Lottery With Raspberry Pi
However, I'm pointing out that when you get into the range of minutes per hash or slower , there is an extra limiting factor: blocks have likely been found in the meantime. Btw, that extra limiting factor is actually closer to 3 minutes right? Since we had to factor in the delay of actually getting notified when someone else has won lottery. Show 1 more comment. You are correct, the question was about the odds of the asker succeeding in finding a block.
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However, you can either express the odds as chance per block or as expected time until the outcome will be achieved, Luca has chosen the latter. The 1GH is also highly over-estimating his CPU's mining power, a more realistic value would be less than 0. Now normally if you've got Bitcoin the safest place for them to be in a secure private wallet. However, since we're lottery mining the likelihood is that we'll not get anything but in the event that you do you can use the Trust Wallet as an easy intermediary. Trust Wallet is a multi-coin app for your phone, I gave a simple setup guide for it here in my Tezos Staking and Aion Mining articles.
Otherwise, head on over to your respective app store and download it from there. Once you have it set up, you should see BTC from your main screen.
Click on it and then on the next screen image below , click on 'copy'. Once the wallet is sorted we'll need to go ahead and get our Pi set up with the mining software. I'll be doing this from the terminal on my raspberry Pi's desktop. Otherwise, the steps still work if you just access the terminal through PuTTY head back over to the original set-up guide if this information has you lost.
So let's get it set up:. For this kind of a task without running your own node, well look at that in future weeks , we want to focus on solo mining pools.
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As I mentioned earlier given the low hashrate of the Raspberry Pi we cannot really expect to make anything using a normal pool as we wont contribute enough to even get to the lowest payout thresholds. When you head over to the site get a hold of the appropriate pool address for your region, you'll need it when we move on to the last step.
So we've got CPUMiner set up, a wallet address and have the pool we're going to mine with. Now we're on to the final stage, mining. For this there are just a few steps left.
Now that you are mining you can check your stats when you've submitted a share, it may take some time! Mandate definition history Handlebar bag diy spacer Fpga vhdl books. Nicehash os raspberry pi. This section lists cryptocurrencies, such as Bitcoin the first widely adopted cryptocurrency , as well as tools to help manage and keep track of them. Digital currency is decentralized, meaning that it functions and operates without a central banking system or governing authority. This category includes many of the hundreds of cryptocurrencies in circulation, as well as tools such as digital NiceHash is the leading cryptocurrency platform for mining and trading.
Sell or buy computing power, trade most popular cryprocurrencies and support the digital ledger technology revolution. Setup a flash drive to mine Bitcoin, is the risk worth it? Read on! This Properties make setup a flash drive to mine Bitcoin noteworthy: A riskier and very much costly operational Intervention is avoided Nicehash os raspberry pi. You can use any Raspberry Pi for this tutorial.
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