4 ms·
If you treat Bitcoin mining as a lottery, with your hardware generating multitudes of tickets for every ~10 minute (on average) block, then you can just fire up
by grubles 10y ago
If you treat Bitcoin mining as a lottery, with your hardware generating multitudes of tickets for every ~10 minute (on average) block, then you can just fire up any old CPU, GPU, or ASIC and wait.
If you treat Bitcoin mining with a short term profit seeking mindset, you will be disappointed.
- dagw 10y agoWorth noting that with a CPU you'd be lucky to average even a penny a year, and that's assuming using a modern CPU at 100% 24/7
- mastazi 10y agoWell with real life lotteries I have averaged $0 in about 40 years so a penny a year is a good chance as lotteries go ;-)
- dagw 10y agoYou've still got to factor in $200-300 in electricity a year (I'm assuming you're using a computer that you've already paid for). The numbers on the lottery vary, but most numbers I've found seem to put the expected return around 50-60%. So if you buy $300 worth of lottery tickets a year you should expect to get back ~$150, which is slightly better than the ~$0.005-0.01 you can expect from mining bitcoins with just a high end CPU.