Topic: Crypto Vs Lotto (Read 808 times)

Difference between both I feel is the reality vs the dream. If you want to actually become millionaire than the reality is investing in crypto with the right coins at lowest prices possible. And if you want to in the dreams then buying the lottery tickets are the things which you can do and only 1 in millions dream come true in such scenarios.

I don't think it can be compared because Lotto gambles while crypto is a digital currency that can be used like fiat money, to pay for transactions.
If Lotto you give money to buy a ticket that already has a number and pray that the numbers are correct and get lots of prizes.
So crypto is a digital currency that can be stored and not used for a long time, just think of savings.

Right.With good skills and strategies in trading,it will be more advantage to gain good profits unlike lottery itself which is purely based on luck.Even if you have good strategies to make sets of digits to bet,but happen that you're not really lucky about it,you will never win in lotto.Unlike crypto investment which will surely give you huge profits even if you're not lucky at all.

Theres no hundred percent profit on lottery because gambling is based on pure luck. If you will put your everyday bets on lottery into bitcoin or maybe some altcoins, you can earn the same aa winning in just a few years. Im sure if your not that lucky, you cannot win jockpot in lottery even in two years.

Yeah, exactly. Crypto is always better than Lottery, because it's so risky and you aren't under control of it, while in crypto you can take some decisions according to your knowledge about the market, so the risk will decrease depending on your skills and your background in this field. In the case that you're a good trader like you said, Crypto for sure it will be more better.

Crypto is better than lottery because lottery is by luck while crypto is in your hands. If you are a good trader and a wise investor the  crypto will really make change to your life. Lottery is like a gamble you don't if you'll win. Having a good choice  between crypto and lottery are very simple. You can actually do both of them while using crypto and you're also playing a lottery.

The lottery is inherently a losing game.  The only consistent winners are the lottery operators which is usually just the government.  Markets always tend to go up over time so everyone can be a winner if they diversify and are willing to wait.

I personally think the least guaranteed investment should not even be compared to lotto. Lotto is all shades of risk.
There is every possibility of loosing all without having anything left to back on but with other investments, there can still be a little form of compensation.

Crypto has minimal risk. There’s no probability of losing all invested cash, if one is to lose at all, it will only be a part of it but and most of the time the  people who loose in crypto are those who are either not careful or patient enough for the market .

Crytocurrency investment is very good and I think everyone knows this already, and like you have mentioned investing in cryptocurrency is like investing in the future, but i would like to point out that there are those whose future in Now, let me explain briefly.

If I am left with just $100, no other hope of getting any money and I do not even know what tomorrow holds for me and now get an opportunity to choose between crypto and Lotto, am sorry at that moment i would choose lotto. This is because I believe any instant win will change my entire life forever and with crypto I might have to wait a little though there is hope for good return.

Both are gable in my opinion and most likely that they have same outcome as result. You will pick what to mine or what number you wanna see in ticket or you will buy with selected number already on ticket. In either way you will have to make decision on what you wanna do. Mine or play lottery.

I totally accept your saying because solo miners is no longer profitable ever since the year 2017  but i came to a conclusion that every investment either crypto related or real world is a gambling because what we're doing is trying out our luck and the most important aspect is ones should know the depth rules and regulations of whatever business he want to invest in.

All right, let's make some calculations here to see if that is the case.

Antminer S15 has the hashrate of around 28TH/s.

With the current hashrate, ~ 43,000,000 TH/s, the probabilty of finding a block in 10 minutes:

28 : 43,000,000 = 0.000000651 or ~ 0.000065% (which basically means impossible)

However, the situation is not that hopeless if you want to mine a block in a year.

There are ~ 52560 blocks mined per year, so we should multiply that number by 52560:

0.000000651 x 52560 = 0.03421656 or ~ 3.4%

So, the probability of solomining a block in a year is around 3.4% currently.

Antminer S15- costs ~ $1,000

The energy consumption for Antminer S15 is

1.596 kW x 24h x 365 = 13,980.960 or roughly 14,000 kWh per year.

If the electricity price is $0.10, we have additional $1,400 to the costs.

If succeeded in mining a block you are currently getting 12.5 BTC or $49,000.

So, it breaks down like this:

You are risking $2,400 in order to earn $49,000 with 3.4% chance. (Also keep in mind all that noise and overheating).

If you place $2,400 bet with 3.4% win chance on a dice site with 1% house edge(no way I'm encouraging that though) you are going to win $64,482 in case of luck.

Maybe that's why people rarely solomine, if ever.


Regarding the lottery, there are different odds for different lotteries, but let's take Mega Millions for example.

The odds of winning jackpot ~ 1 : 300,000,000 = 0.000000003

If you buy 1,200 tickets with $2,400

0.000000003 x 1,200 = 0.000004 or 0.0004%

Although your win chance is much smaller than that for finding a block with solomining during one year, don't forget that the prize is much higher in Mega Millions(Next Estimated Jackpot: $40 Million), and also with 1,200 tickets you can win some smaller prizes along the way. So, it's hard to say what is better imo.

Bitcoin is the wrong coin in that regard. You with a high probability will never find a block on your own. For argument same, even if you mine a block, the power it took you to mine it makes you still lose badly.

If you said Ethereum or Litecoin, coins that you can mine with your GPU rig, things would be different. But then again, finding blocks is also based on luck, because you're not the only small fish trying to be lucky and mine a block.

Overall, looking at how people "invest" or "trade" in crypto, it's fair to say that it's quite similar to gambling. No TA, no fundamental analysis, no understanding of the protocols, and so forth. People are flipping a coin....

I believe that majority of these lotto people will surely invest in Bitcoin if they are being exposed to it, we need to look at the group of people into lotto, are they even aware of the existence of a digital currency other than the fiat currency they are used to, that is why we still need to do lots from our own part by creating more awareness to this, starting from the lotto companies themselves, are these lotto companies even encouraging the growth of crypto currency by making crypto an option on the payment system they have.

If lotto companies themselves have not adopted or accepted the system, how then would lotto players be aware of it for them to start investing, we just still need to give them little time more and I am sure majority of them will eventually  come on board even though we still cannot take lotto away from them completely no matter what.

Crypto is a coin the you can invest ofcourse before you go you need to take a risk but you can earn more profit as like Lotto. Lotto is a kind of game that you can win a big prize but this is not surely you can win but if you think that you is so lucky go to lotto outlet and buy a ticket and if you win more money buy some crypto coins then hold it and wait for the big price as like you won in the lotto.

Its really incomparable but we can foreseen the risk involved with these things and the money can be possible won if you do hit. Hundred folds compared to percentage profits with crypto.
Why would really need to decide which one of them if we can able to do both things and I agree the things you do said that it doesn't really need big amounts to participate to lotto since tickets are cheap
but don't expect yet the odds on winning is almost impossible.

Of course investing in crypto's better, than something in vain like lotto and gambling. Investing in crypto is better because it's legitimate, and when we succeed the benefits we get are not just profits, but there are other benefits such as experience and knowledge, for example: We will understand more about investment, crypto performance, we will also know and understand, when is the right time to buy and when to sell, meanwhile winning from the lotto will not mean anything, other than jealousy and slander from the people around him, both at home and at the place when he bet.

Well for me I think crypto is better than lotto, because lotto is always depends on your luck and crypto is depend on how you work on it. If we are going to compair lotto to crypto there was really a big difference specially on gaining, lotto is really a hard ways to earn a huge amount of profit while in crypto even if we can't earn a big amount there are still a profit even in a small amount but it can really help a lot, so I think crypto is really better than lotto.

If you want something with much better odds than playing government run lotteries you can solo mine and try to get lucky on finding a bitcoin block yourself.  The expected odds are vastly superior to playing the lottery.

You are trying to compare incomparable things here. Winning a lottery jackpot means getting millionfold more of that what you spent on one ticket. Investing in the right crypto can give you, in most cases, not more than hundredfold increase of your investment. I'm not saying that one shouldn't try to invest in a good crypto(Bitcoin for instance) after doing some proper research, but, as Lucius said above, you can do both since lottery doesn't require big investments.

Also, there are 2,000+ coins/tokens on CoinMarketCap, not 855.