Bitcoin lottery advice - page 2. | Bitcointalksearch.org

bitbaby

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Quote from: Ingatqhvq on April 24, 2015, 06:43:00 AM

I think any dice game is much like lottery game, you can set a very low chance to win, but with very high profit, if you are luck enough, you can win much.

True. I don't know any Bitcoin Lottery sites because I am not interested in choosing numbers and waiting a day or 2 for the results to come in.

Which is why I think many BTC lottery sites died because gamblers hate to wait. With dice or other fast paced games, one can try his luck every 5 seconds or so.

As for the Mining, companies who have Huge farms are struggling to make a profit due to the sudden decrease in Bitcoin price, so it is not really recommended at the moment.

LFC_Bitcoin

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Quote from: chrisrobs8612 on April 24, 2015, 12:57:52 AM

On the other hand I've heard some people have made good money out of mining in the near past.

I think for sole individuals mining isn't profitable any more unless you live somewhere that electricity is very, very cheap.

The hardware involved is very expensive, I wouldn't be looking to mine especially with the bitcoin price being oretty low atm.

Ingatqhvq

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I think any dice game is much like lottery game, you can set a very low chance to win, but with very high profit, if you are luck enough, you can win much.

dr1wealth

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Quote from: Chemistry1988 on April 24, 2015, 01:25:21 AM

Quote from: srgkrgkj on April 24, 2015, 01:02:44 AM

Quote from: chrisrobs8612 on April 24, 2015, 12:57:52 AM

On the other hand I've heard some people have made good money out of mining in the near past.

hmm near past ? probably more further than you think Tongue

mining was profitable a long long time ago for miners and a even longer time for home rigs Tongue

That's so true.
I was mining bitcoin in late 2012 - mid 2013 with my GPU, and it was profitable for me at the time even though I was having not so cheap electricity.

wait why then people keep on mining bitcoin if its not profitable anymore?

Chemistry1988

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Quote from: srgkrgkj on April 24, 2015, 01:02:44 AM

Quote from: chrisrobs8612 on April 24, 2015, 12:57:52 AM

On the other hand I've heard some people have made good money out of mining in the near past.

hmm near past ? probably more further than you think Tongue

mining was profitable a long long time ago for miners and a even longer time for home rigs Tongue

That's so true.
I was mining bitcoin in late 2012 - mid 2013 with my GPU, and it was profitable for me at the time even though I was having not so cheap electricity.

srgkrgkj

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Quote from: chrisrobs8612 on April 24, 2015, 12:57:52 AM

On the other hand I've heard some people have made good money out of mining in the near past.

hmm near past ? probably more further than you think Tongue

mining was profitable a long long time ago for miners and a even longer time for home rigs Tongue

chrisrobs8612

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On the other hand I've heard some people have made good money out of mining in the near past.

chrisrobs8612

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Quote from: Minnlo on April 22, 2015, 07:55:18 AM

Quote from: fox19891989 on April 21, 2015, 02:24:45 AM

Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

HAHA, reasonable, solo mine BTC is as difficult as win a lottery. They are both impossible missions. Grin

The probability of solo mining btc using PC is less than 1/1000000.

Solo-mining bitcoin with a PC is more difficulty than winning a lottery jackpot.
Assuming you have a very good GPU, it will probably hash at 600 MH/s. With a network hashrate of 360,495,261 GH/s (from https://bitcoinwisdom.com/bitcoin/difficulty), you will have just 0.000000166% of network hashrate and so 0.000000166% to find the next block.

On the other hand, the odds to win jackpot in Powerball is 1 in 175,223,510 or 0.000000570%.

Wow thanks for the exhausting information. So I guess mining is a lost cause.

Minnlo

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Quote from: fox19891989 on April 21, 2015, 02:24:45 AM

Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

HAHA, reasonable, solo mine BTC is as difficult as win a lottery. They are both impossible missions. Grin

The probability of solo mining btc using PC is less than 1/1000000.

Solo-mining bitcoin with a PC is more difficulty than winning a lottery jackpot.
Assuming you have a very good GPU, it will probably hash at 600 MH/s. With a network hashrate of 360,495,261 GH/s (from https://bitcoinwisdom.com/bitcoin/difficulty), you will have just 0.000000166% of network hashrate and so 0.000000166% to find the next block.

On the other hand, the odds to win jackpot in Powerball is 1 in 175,223,510 or 0.000000570%.

chrisrobs8612

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Quote from: fox19891989 on April 21, 2015, 02:24:45 AM

Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

HAHA, reasonable, solo mine BTC is as difficult as win a lottery. They are both impossible missions. Grin

The probability of solo mining btc using PC is less than 1/1000000.

Well solo mining can be hard as hell! But what about if you're into some sort of a mining network?

fox19891989

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Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

HAHA, reasonable, solo mine BTC is as difficult as win a lottery. They are both impossible missions. Grin

The probability of solo mining btc using PC is less than 1/1000000.

chrisrobs8612

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Quote from: GannickusX on April 20, 2015, 11:23:42 AM

Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

Lmao "besides electricity bills" you can end up paying a lot depending on your country if you are mining all day, you would have paied much more by the time you hit the "jackpot" and bitcoin price is dropping and dropping so i dont think its worth it

well yeah but some say that the price will go up.

GannickusX

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Quote from: josef2000 on April 20, 2015, 10:58:07 AM

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

Lmao "besides electricity bills" you can end up paying a lot depending on your country if you are mining all day, you would have paied much more by the time you hit the "jackpot" and bitcoin price is dropping and dropping so i dont think its worth it

josef2000

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Bro, you need to try http://dadice.com

Well, best for doing bitcoin lottery is just do some solo mining. You have a very small chance of winning, just like in real life, but the reward is very big. Setup your computer to solo mine, it will be a lottery ticket to the "bitcoin lottery". You probably wont find a block with your computer, but who wins a lottery jackpot in real life?
The best thing here is, its free(besides from the electricity bills)

shanem

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There is no advice on betting the lottery for any currency.
You just bet on it and hope for the best to hit the jackpot.

chrisrobs8612

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Quote from: Astargath on April 17, 2015, 08:31:49 AM

Quote from: Netpyder on April 17, 2015, 05:07:51 AM

the bitcoin lottery does not have the huge mass players. so if you ask me if there is a chance of winning it.. id say maybe yes there is. but risking money into those type of luck is definitly not for me. some people are really lucky tho

What does it matter if it has a huge mass of players or not? Your luck is not going to change if there are more players, you are always risking money in any type of gambling

Exactly, only if someone could tell if the probability of winning in lottery is any better.

Astargath

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Quote from: Netpyder on April 17, 2015, 05:07:51 AM

the bitcoin lottery does not have the huge mass players. so if you ask me if there is a chance of winning it.. id say maybe yes there is. but risking money into those type of luck is definitly not for me. some people are really lucky tho

What does it matter if it has a huge mass of players or not? Your luck is not going to change if there are more players, you are always risking money in any type of gambling

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Quote from: chrisrobs8612 on April 15, 2015, 05:30:20 AM

One of the main obstacles in bitcoin betting is that blockchain transactions are getting a bit slower. I recently came across this. Do you know if this could be a site-related issue? Like something with their addresses?

Block chain transaction can not get slower, the average amount of time it takes to mine a block will always stay around 10 minutes due to the difficulty being changed when blocks are mined too fast or too slow. Addresses don't have anything to do with transaction times as long as you're using the standart tx fee.

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Quote from: Netpyder on April 17, 2015, 05:07:51 AM

the bitcoin lottery does not have the huge mass players. so if you ask me if there is a chance of winning it.. id say maybe yes there is. but risking money into those type of luck is definitly not for me. some people are really lucky tho

Based on my experience very few things are luck-related. Everything is a mathematical probability. So perhaps the probability of winning the lottery is better than other types of gambling. BUt the admins of the lottery sites won't leave it all to pure luck too right?

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the bitcoin lottery does not have the huge mass players. so if you ask me if there is a chance of winning it.. id say maybe yes there is. but risking money into those type of luck is definitly not for me. some people are really lucky tho

Topic: Bitcoin lottery advice - page 2. (Read 2527 times)