Be prepared to wait for a REALLY LONG TIME. If you took all the time in the universe to the power of all the time in the universe, unlikely you would ever have 1% of the hash power correctly guess 750 out of 1000 blocks.
1-BINOMDIST(750,1000,0.01,TRUE) = 0.00000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000%
Topic: 750 of last 1000 blocks can happen with only 1% miners it only takes more time (Read 631 times)
August 18, 2015, 12:28:07 AM
August 18, 2015, 12:14:08 AM
There are lies, damn lies, and statistics....
Sorry I couldn't resist
.
Sorry I couldn't resist
.Go back to litecointalk
August 17, 2015, 11:59:29 PM
There are lies, damn lies, and statistics....
Sorry I couldn't resist.
Sorry I couldn't resist
. 
August 17, 2015, 11:51:59 PM
Anyone that has said 75% of miners has mislead you.
It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network.
It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network.
750 of last 1000 blocks it's not 75% of miners from what i understand
Correct. It is not 75% of miners. It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network).
It's like playng dice and after many tries your dice show 6 twice in a row.
You can conclude then from last 3 tries that 66% of dice faces are marked with 6 when in fact only 16% of dice faces are marked with 6
Am i wrong ?
You can conclude then from last 3 tries that 66% of dice faces are marked with 6 when in fact only 16% of dice faces are marked with 6
Am i wrong ?
Yes. You are wrong.
It's more like playing dice, and after many tries your dice show 6 sixty times out of the most recent 360 tries.
You can conclude then from the last 360 tries that 16.67% of dice faces are marked with 6, which it turns out they actually are.
Since the process is random, you may have a few more or less than 60 out of the most recent 360 tries that turn out to be 6's.
Let's say that randomness results in 10% more (or 10% less) 6's showing up than expected. You might have somewhere between fifty-four and sixty-six 6's
54 / 360 = 15%
66 / 360 = 18.3%
So, you might mistakenly be off of the 16.67% by a percent-and-a-half or so. If you were told that the dice was a platonic solid you'd still accurately be able to identify it as a six sided cube.
August 17, 2015, 11:09:01 PM
It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network.
750 of last 1000 blocks it's not 75% of miners from what i understand
It's like playng dice and after many tries your dice show 6 twice in a row.
You can conclude then from last 3 tries that 66% of dice faces are marked with 6 when in fact only 16% of dice faces are marked with 6
Am i wrong ?
Hence he said
Quote
Anyone that has said 75% of miners has mislead you.
Are you too dump to understand a basic sentence?
August 17, 2015, 11:08:04 PM
to get the mining block reward 2 in a row, you will need to calculate your hashing power, and make one out of the "numbers" to the power of 2.
example: you have 5% of the all hash power, then mining two blocks in a row would be (1/20)^2= 1/400.
am i right? by the way, sometimes, like antpool, due to a certain sudden reward, they mined 2 blocks in a row within 2 minutes.
for the XT, it could keep you from wasting the hash power. however, it would be hard to synchronise it quickly or sustainable.
example: you have 5% of the all hash power, then mining two blocks in a row would be (1/20)^2= 1/400.
am i right? by the way, sometimes, like antpool, due to a certain sudden reward, they mined 2 blocks in a row within 2 minutes.
for the XT, it could keep you from wasting the hash power. however, it would be hard to synchronise it quickly or sustainable.
August 17, 2015, 10:33:21 PM
It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network.
750 of last 1000 blocks it's not 75% of miners from what i understand
It's like playng dice and after many tries your dice show 6 twice in a row.
You can conclude then from last 3 tries that 66% of dice faces are marked with 6 when in fact only 16% of dice faces are marked with 6
Am i wrong ?
August 17, 2015, 10:02:06 PM
75% of miners
Anyone that has said 75% of miners has mislead you.
or 750 of last 1000 mined blocks it's not the same becouse blocks are mined randomly by miners
Witch is it for Bitcoin XT?
Witch is it for Bitcoin XT?
It is 75% of the last 1000 blocks (which is effectively approximately 75% of the global hash power on the bitcoin network.
August 17, 2015, 08:05:15 PM
75% of miners or 750 of last 1000 mined blocks it's not the same becouse blocks are mined randomly by miners
Witch is it for Bitcoin XT?
Best Regards
Witch is it for Bitcoin XT?
Best Regards
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