NiceHash one-click Blockchain Lottery: play and win full 25 BTC block reward!

nicehash

legendary

Activity: 885

Merit: 1006

NiceHash.com

A few updates on the solo.nicehash.com site:

- added "Best Share" column to Users and Workers stats
- added "Where can I get statistic reports?" to our FAQ section (https://solo.nicehash.com/faq.htm)
- implemented found block notifications via Twitter ... each time a new block will be found a notification will be automatically posted to Twitter @NiceHashSolo - https://twitter.com/NiceHashSolo: therefore you're welcome to follow us on Twitter @NiceHashSolo Wink

Good luck on finding new blocks! Wink

Kind regards,
NiceHash

NiceHashSupport

hero member

Activity: 588

Merit: 501

We have added optio to quickly switch between NiceHash and WestHash. Prices of tickets on both services may not be always equal - one service can be cheaper (depending on current market). We suggest you to check both first and choose cheaper ticket. You use same login to access WestHash (no need to have two accounts).

Since there is not much demand for SHA256 hashing power, tickets are cheaper than when we introduced this service. Go on and check it out.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: trafficolaa on April 24, 2015, 11:50:59 AM

it means it will be like real solo mining

No it is not "like a real" solo mining because it is a "real" solo mining.

Quote from: trafficolaa on April 24, 2015, 11:50:59 AM

who will mine that block first will get the whole bet amount there

You misunderstood again, you are really mining as of solo mining, and you dont get the whole bet but instead you got the whole BTC in one bitcoin block if you manage to find a block before the rental runs out of funds

Quote from: trafficolaa on April 24, 2015, 11:50:59 AM

with 99.99% risk.

Not really, as it has been described at the site and also due to the nature of mining, the more hashes you got, the higher your chance to get the block, of course there is a luck factor on it too

trafficolaa

legendary

Activity: 1008

Merit: 1000

Quote from: arallmuus on April 24, 2015, 11:10:13 AM

Quote from: trafficolaa on April 24, 2015, 11:04:59 AM

invest in hashes with solo mining short term contract is much risky gambling, pay plan is still confusing for me hard to understand what we get back for every 0.01 Btc invesment in solo mining?

I dont think you get what "solo mining" actually means, it is like an actual mining but it is not shared, you keep all 25 BTC in one block if you are able to get it, but the chances are slim, that is why the concept of nicehash on putting in the gambling section since solomining = gambling

For 0.01 BTC you get a chance to solomine , if you find a block, you keep 99.5 % of it which is 24.875 BTC

it means it will be like real solo mining who will mine that block first will get the whole bet amount there, that kind of gambling give high chance of winning with less amount but with 99.99% risk.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: shanem on April 24, 2015, 11:17:32 AM

This solo mining is very risky and need some capital.
In most cases, you would lose all your tickets.

The same analogic goes for the usual gambling sites it is risky and needs some capital but Yes, unlike any other gambling sites which offer the same chance no matter what your bet is.

In this "game" your chance goes higher if you got a higher bankroll but also the chances to get the block , in 24 hours if you are truly lucky enough , you could get more than a block which makes this worth to gamble.

shanem

legendary

Activity: 1344

Merit: 1000

This solo mining is very risky and need some capital.
In most cases, you would lose all your tickets.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: trafficolaa on April 24, 2015, 11:04:59 AM

invest in hashes with solo mining short term contract is much risky gambling, pay plan is still confusing for me hard to understand what we get back for every 0.01 Btc invesment in solo mining?

I dont think you get what "solo mining" actually means, it is like an actual mining but it is not shared, you keep all 25 BTC in one block if you are able to get it, but the chances are slim, that is why the concept of nicehash on putting in the gambling section since solomining = gambling

For 0.01 BTC you get a chance to solomine , if you find a block, you keep 99.5 % of it which is 24.875 BTC

trafficolaa

legendary

Activity: 1008

Merit: 1000

Quote from: retes1234 on April 24, 2015, 10:33:42 AM

Quote from: achow101 on April 24, 2015, 09:36:51 AM

Quote from: zcxvbs on April 24, 2015, 09:26:36 AM

It's called solo mining, but actually you got to buy lots of hashrate if you want your chance to win getting bigger. More hash, more chance.

OK I think this is clearly describe for this lottery game. We must rent hash from NiceHash for solo mining and if we need chances to win more we must rent more Shocked

If i understand this game correctly, yes it is. This is like a short term contract solo cloud mining. You will need to pay for the time and the power you will rent and you hope to find a block

invest in hashes with solo mining short term contract is much risky gambling, pay plan is still confusing for me hard to understand what we get back for every 0.01 Btc invesment in solo mining?

retes1234

full member

Activity: 196

Merit: 100

https://dadice.com the #1 dice site

Quote from: achow101 on April 24, 2015, 09:36:51 AM

Quote from: zcxvbs on April 24, 2015, 09:26:36 AM

It's called solo mining, but actually you got to buy lots of hashrate if you want your chance to win getting bigger. More hash, more chance.

OK I think this is clearly describe for this lottery game. We must rent hash from NiceHash for solo mining and if we need chances to win more we must rent more Shocked

If i understand this game correctly, yes it is. This is like a short term contract solo cloud mining. You will need to pay for the time and the power you will rent and you hope to find a block

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: arallmuus on April 24, 2015, 10:16:57 AM

Quote from: NiceHashSupport on April 24, 2015, 10:11:45 AM

Quote from: arallmuus on April 24, 2015, 09:59:34 AM

Fair things, so you offer and prioritize up 50 % for this game, but still this bothers me, it seems like the concept of this "solomine" is to find a block of bitcoin. So the game will end once you found a block or that the time for your rental ended, correct ?

Actually, you may find not only one, but several blocks with one ticket. Your ticket ends when your order linked to that tickets runs out of Bitcoins. This game will never end, as long as Bitcoin network lives and we have enough hashing power available, you can buy new tickets to gamble with solo mining.

I see, so it is indeed a normal solomine using the fixed rates for the rental method which you keep all your ~~winning~~ BTC which you mined, anyway dressing the solo mining as "gambling" is quite catchy name for it since yes most solomine is indeed a huge gamble Wink

That was the goal of this subservice we introduced - to dress solo mining in an outfit that is more attractive to all the gamblers that usually gamble only in casinos where underlying technology is vague/hidden/secret and not well documented. With Bitcoin solo mining, there are no secrets, everything is visible, open and each one can verify his chances. After all, the block reward that gets paid out is not paid out of our pockets - but it is generated by bitcoin network; we actually hope that our gamblers find as much blocks as possible, because that benefits us, too.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: NiceHashSupport on April 24, 2015, 10:11:45 AM

Quote from: arallmuus on April 24, 2015, 09:59:34 AM

Fair things, so you offer and prioritize up 50 % for this game, but still this bothers me, it seems like the concept of this "solomine" is to find a block of bitcoin. So the game will end once you found a block or that the time for your rental ended, correct ?

Actually, you may find not only one, but several blocks with one ticket. Your ticket ends when your order linked to that tickets runs out of Bitcoins. This game will never end, as long as Bitcoin network lives and we have enough hashing power available, you can buy new tickets to gamble with solo mining.

I see, so it is indeed a normal solomine using the fixed rates for the rental method which you keep all your ~~winning~~ BTC which you mined, anyway dressing the solo mining as "gambling" is quite catchy name for it since yes most solomine is indeed a huge gamble Wink

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: retes1234 on April 24, 2015, 10:04:03 AM

Quote from: NiceHashSupport on April 24, 2015, 09:47:10 AM

Quote from: josef2000 on April 24, 2015, 09:37:52 AM

Just a question. As stated you get 24 hours of solo mining for 1 ticket.
So how much hashrate is one ticket worth? Is it distributed to all lottery buyers or does it have a fixed rate?

Quote

Purchasing ticket creates fixed order with one of the following limited speeds in TH/s (respectively to chances): 5 10 15 25 50 75 100 150 250 500 750 1000

This means what the cheapest ticket will run with 5 TH/s and the most expensive one with 1000 TH/s.

We know that chances to win a block are slim and currently we have nothing to offer to gamblers that would like to bet with small amounts for chance to win smaller rewards. But we are thinking of possible solutions - and we are open to suggestions (but Bitcoin mining technology has to be in the back).

How much is the cheapest ticket in bitcoin?

These prices constantly vary due to fluctuating market. But currently the cheapest one is for 0.0122 BTC (5 hour ticket, 5 TH/s with 0.05% chances to win 25 BTC block reward).

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: arallmuus on April 24, 2015, 09:59:34 AM

Fair things, so you offer and prioritize up 50 % for this game, but still this bothers me, it seems like the concept of this "solomine" is to find a block of bitcoin. So the game will end once you found a block or that the time for your rental ended, correct ?

Actually, you may find not only one, but several blocks with one ticket. Your ticket ends when your order linked to that tickets runs out of Bitcoins. This game will never end, as long as Bitcoin network lives and we have enough hashing power available, you can buy new tickets to gamble with solo mining.

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: arallmuus on April 24, 2015, 09:59:34 AM

Quote from: ?? on ??

How do you pick the winner ? Pure Provably Fair ?
And how many block you find everyday ?

I'm interested in this game

You should read first, the question is already answered, it is not provably fair since it is more to mining rather than gambling and it is a solomine

There is no how many block do you find everyday since it is a solomine, you will mine on your own

Exactly. We are not picking who wins the block, but if you are lucky enough that your ticket gets a miner that is lucky enough to find a Bitcoin block, then you get that reward minus 0.5% for the solo mining pool fee.

retes1234

full member

Activity: 196

Merit: 100

https://dadice.com the #1 dice site

Quote from: NiceHashSupport on April 24, 2015, 09:47:10 AM

Quote from: josef2000 on April 24, 2015, 09:37:52 AM

Just a question. As stated you get 24 hours of solo mining for 1 ticket.
So how much hashrate is one ticket worth? Is it distributed to all lottery buyers or does it have a fixed rate?

Quote

Purchasing ticket creates fixed order with one of the following limited speeds in TH/s (respectively to chances): 5 10 15 25 50 75 100 150 250 500 750 1000

This means what the cheapest ticket will run with 5 TH/s and the most expensive one with 1000 TH/s.

We know that chances to win a block are slim and currently we have nothing to offer to gamblers that would like to bet with small amounts for chance to win smaller rewards. But we are thinking of possible solutions - and we are open to suggestions (but Bitcoin mining technology has to be in the back).

How much is the cheapest ticket in bitcoin?

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: ?? on ??

How do you pick the winner ? Pure Provably Fair ?
And how many block you find everyday ?

I'm interested in this game

You should read first, the question is already answered, it is not provably fair since it is more to mining rather than gambling and it is a solomine

There is no how many block do you find everyday since it is a solomine, you will mine on your own

Quote from: NiceHashSupport on April 24, 2015, 09:42:24 AM

Quote from: arallmuus on April 24, 2015, 09:31:27 AM

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

Fixed orders guarantee you the speed you limit your order to. These orders are top priority order and we always only offer 50% of all hashing power available for fixed orders. That is why sometimes, some high speed tickets will not be available to purchase.

Are you saying that this bitcoin lottery uses the fixed order system for the hashes?

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

Anyway, yes, your speed may fluctuate up and down, but on longer period of time, your speed is about the wanted one. Moreover, if your speed is lower, then you mine for longer, if your speed is higher, then you mine for shorter period of time. What is important: your chances stay the same regardless of speed fluctuations.

In regards, where does this chances calculations comes from? because as far as I know , there isnt any specific chance calculation yet about solomine ( I could be wrong ) since there is alot of factor to consider such as the downtime

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

A 1000 TH/s ticket will 100% reach this speed regardless of other buyers. But it may not always be available as explained before.

Since there is a total of 5000 TH/s in nicehash alone currently , does you mean that there wont be another renter if someone decided to rent all 5000 TH/s for the lottery since you will prioritize them?

1. As it is written - it uses fixed orders.

2. Calculation is statistic and of course will vary. If you play roullete, then your chance to win when betting on red are 48.65%. But this doesn't mean you will win in 48.65% cases. That is how we calculated ticket chances.

Downtime is not a problem, because if pool is down, then you are not paying for mining. You only pay for valid shares when remote pool (solo pool) is working. This is based on NiceHash mining service.

3. Buying for 5 PH/s of tickets is not possible yet, because we only give 50% of total hashing power available to fixed orders. Currently you could buy for approx. 2500 TH/s of tickets (if nobody else buys tickets or places fixed orders).

Fair things, so you offer and prioritize up 50 % for this game, but still this bothers me, it seems like the concept of this "solomine" is to find a block of bitcoin. So the game will end once you found a block or that the time for your rental ended, correct ?

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: josef2000 on April 24, 2015, 09:37:52 AM

Just a question. As stated you get 24 hours of solo mining for 1 ticket.
So how much hashrate is one ticket worth? Is it distributed to all lottery buyers or does it have a fixed rate?

Quote

Purchasing ticket creates fixed order with one of the following limited speeds in TH/s (respectively to chances): 5 10 15 25 50 75 100 150 250 500 750 1000

This means what the cheapest ticket will run with 5 TH/s and the most expensive one with 1000 TH/s.

We know that chances to win a block are slim and currently we have nothing to offer to gamblers that would like to bet with small amounts for chance to win smaller rewards. But we are thinking of possible solutions - and we are open to suggestions (but Bitcoin mining technology has to be in the back).

NiceHashSupport

hero member

Activity: 588

Merit: 501

Quote from: arallmuus on April 24, 2015, 09:31:27 AM

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

Fixed orders guarantee you the speed you limit your order to. These orders are top priority order and we always only offer 50% of all hashing power available for fixed orders. That is why sometimes, some high speed tickets will not be available to purchase.

Are you saying that this bitcoin lottery uses the fixed order system for the hashes?

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

Anyway, yes, your speed may fluctuate up and down, but on longer period of time, your speed is about the wanted one. Moreover, if your speed is lower, then you mine for longer, if your speed is higher, then you mine for shorter period of time. What is important: your chances stay the same regardless of speed fluctuations.

In regards, where does this chances calculations comes from? because as far as I know , there isnt any specific chance calculation yet about solomine ( I could be wrong ) since there is alot of factor to consider such as the downtime

Quote from: NiceHashSupport on April 24, 2015, 09:18:48 AM

A 1000 TH/s ticket will 100% reach this speed regardless of other buyers. But it may not always be available as explained before.

Since there is a total of 5000 TH/s in nicehash alone currently , does you mean that there wont be another renter if someone decided to rent all 5000 TH/s for the lottery since you will prioritize them?

1. As it is written - it uses fixed orders.

2. Calculation is statistic and of course will vary. If you play roullete, then your chance to win when betting on red are 48.65%. But this doesn't mean you will win in 48.65% cases. That is how we calculated ticket chances.

Downtime is not a problem, because if pool is down, then you are not paying for mining. You only pay for valid shares when remote pool (solo pool) is working. This is based on NiceHash mining service.

3. Buying for 5 PH/s of tickets is not possible yet, because we only give 50% of total hashing power available to fixed orders. Currently you could buy for approx. 2500 TH/s of tickets (if nobody else buys tickets or places fixed orders).

josef2000

sr. member

Activity: 280

Merit: 250

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

Just a question. As stated you get 24 hours of solo mining for 1 ticket.
So how much hashrate is one ticket worth? Is it distributed to all lottery buyers or does it have a fixed rate?

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: zcxvbs on April 24, 2015, 09:26:36 AM

It's called solo mining, but actually you got to buy lots of hashrate if you want your chance to win getting bigger. More hash, more chance.

OK I think this is clearly describe for this lottery game. We must rent hash from NiceHash for solo mining and if we need chances to win more we must rent more Shocked

Topic: NiceHash one-click Blockchain Lottery: play and win full 25 BTC block reward! (Read 2344 times)