Is solo mining comparable to lottery?
I’ve heard people obsessed with solo mining machines, such as nerd miners. With electricity costs under a dollar per week, you might win a block reward of 6.25 Bitcoin ($BTC)!
People referred solo mining as lottery. But is it comparable? Let’s do some simple estimation.
The NerdMiner runs at 55KH/s (hash rate), which is 0.055 Mega Hash/s.
From SoloChance.com, winning chance per day is 1 in 62,197,313,953,788 (dynamic value). Let’s take it as 1/1013per day.
The odds of winning Powerball® Grand Prize is 1 in 292,201,338, and drawings are held three days per week. Let’s take it as 1/108 per day.
So, the winning chance of Powerball® Grand Prize is 100,000 times greater than solo mining with NerdMiner! (1013/108)
Not to mention a winning for solo mining is just 6.25 $BTC ≈ 165,000 USD, whereas the Powerball® Grand Prize often reaches 1,000 times that amount, at 100,000,000 USD or more!
Would you buy a lottery ticket or solo mining machine, my friend?
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