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chaoman (OP)
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April 17, 2015, 11:06:54 PM |
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Lets say I make 1000 satoshi a second how many days would it take to make one bitcoin?
Now how about 2000 satoshi a second? what is the equation here?
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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yampi
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April 17, 2015, 11:14:46 PM |
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If you make 2000 satoshi a second you will make 172,800,000 satoshi a day.
If you make 1.728 btc a day, you will make 1 btc in roughly 14 hours.
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freeyourmind
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April 17, 2015, 11:19:04 PM |
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Lets say I make 1000 satoshi a second how many days would it take to make one bitcoin?
Now how about 2000 satoshi a second? what is the equation here?
100,000,000 satoshi = 1 BTC (satoshi per day) = (satoshi per second) * (60 seconds) * (60 minutes) * (24 hours) (satoshi per day) = (satoshi per second) * 86,400So @ 1,000 satoshi per second, satoshi per day = 1,000 * 86,400 satoshi per day = 86,400,000 @ 2000 satoshi per second, satoshi per day = 172,800,000 To make 1BTC per day, 100,000,000 = (satoshi per second) * 86,400 satoshi per second = 1,157.4 |
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DannyHamilton
Legendary
 Offline
Activity: 3388
Merit: 4653
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April 18, 2015, 12:13:28 AM |
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Lets say I make 1000 satoshi a second how many days would it take to make one bitcoin?
Now how about 2000 satoshi a second? what is the equation here?
satoshis = bitcoins X 100000000 Since you want to make 1 bitcoin, that means that you want to make: 1 X 100000000 = 100000000 satoshis time = satoshi you want to make / rate that you make satoshi If you make 1000 satoshis per second: 10000000 / 1000 = 100000 seconds to make 1 bitcoin There are 60 seconds in each minute. So if you divide 100000 seconds by 60 seconds per minute, you see that it will take you 1666 minutes (with a remainder of 40 seconds) to make 1 bitcoin. There are 60 minutes in each hour. So if you divide 1666 minutes by 60 minutes per hour, you see that it will take you 27 hours (with a remainder of 46 minutes) to make 1 bitcoin. There are 24 hours in each day. So if you divide 27 hours by 24 hours per day, you see that it will take you 1 day (with a remainder of 3 hours) to make 1 bitcoin. So, at 1000 satoshi per second, it will take you 1 day plus the remaining 3 hours plus the remaining 46 minutes plus the remaining 40 seconds to make 1 bitcoin. 1 day, 3 hours, 46 minutes, and 40 seconds. |
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chaoman (OP)
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April 18, 2015, 02:10:37 AM |
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why is everybody coming up with different answers lol.
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Lorenzo
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April 18, 2015, 02:37:24 AM |
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why is everybody coming up with different answers lol.
They're not different answers, just different ways of answering the same question: The first answer by yampi says that you will make 1 BTC in roughly 14 hours assuming a rate of 2,000 satoshis per second. This is the same as roughly 28 hours at 1,000 satoshis per second. The second answer by freeyourmind says that you will need a rate of 1,157.4 satoshis per second to make 1 BTC in a day. This is also true. The third answer by DannyHamilton says that you will make 1 BTC in almost 28 hours (1 day, 3 hours, 46 minutes, and 40 seconds) assuming a rate of 1,000 satoshis per second. That's about 1 BTC in roughly 14 hours if the rate was 2,000 satoshis per second instead (i.e. the same as what yampi said). Conclusion: 1,000 satoshis/second = 28 hours 2,000 satoshis/second = 14 hours 1,157 satoshis/second = 24 hours |
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chaoman (OP)
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April 18, 2015, 03:20:44 AM |
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I see. Math is not my strong suit haha. Thanks guys
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freeyourmind
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April 18, 2015, 03:35:30 AM |
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why is everybody coming up with different answers lol.
They're not different answers, just different ways of answering the same question: The first answer by yampi says that you will make 1 BTC in roughly 14 hours assuming a rate of 2,000 satoshis per second. This is the same as roughly 28 hours at 1,000 satoshis per second. The second answer by freeyourmind says that you will need a rate of 1,157.4 satoshis per second to make 1 BTC in a day. This is also true. The third answer by DannyHamilton says that you will make 1 BTC in almost 28 hours (1 day, 3 hours, 46 minutes, and 40 seconds) assuming a rate of 1,000 satoshis per second. That's about 1 BTC in roughly 14 hours if the rate was 2,000 satoshis per second instead (i.e. the same as what yampi said). Conclusion: 1,000 satoshis/second = 28 hours 2,000 satoshis/second = 14 hours 1,157 satoshis/second = 24 hours Yeah now that I look back at your question, I didn't answer how long it would take. I thought you wanted the rate to make 1 btc in a day. |
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chaoman (OP)
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April 18, 2015, 03:39:54 AM |
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well since you guys were nice to me I thought I would share an idea.
I will play a very safe strategy on auto bet at several different dice sites. The goal is to get around 1000 satoshis a second. Then all I have to do is leave the auto bet on and I will make btc. The only issue is if the strategy busts before I reach the break even point. If the strategy fails and I made break even before it failed I will leave it running. Since it is a safe strategy there is a chance that I can have them running for 1 day without a bust.
What are the odds of a 90% chance to win failing 4 times in a row? how about 5? eli5 pls thx!
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Lorenzo
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April 18, 2015, 03:55:02 AM |
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well since you guys were nice to me I thought I would share an idea.
I will play a very safe strategy on auto bet at several different dice sites. The goal is to get around 1000 satoshis a second. Then all I have to do is leave the auto bet on and I will make btc. The only issue is if the strategy busts before I reach the break even point. If the strategy fails and I made break even before it failed I will leave it running. Since it is a safe strategy there is a chance that I can have them running for 1 day without a bust.
What are the odds of a 90% chance to win failing 4 times in a row?
(1/10)*(1/10)*(1/10)*(1/10) = 0.0001 0.0001 * 100 = 0.01% (converting to a percentage) Or alternatively, a single roll at 90% has a 10% chance of failure, two rolls at 90% have a 1% chance of failure (since 10% of 10% is 1%), three rolls at 90% have a 0.1% chance of failure, and so it follows that four rolls at 90% have a 0.01% chance of failure. how about 5? eli5 pls thx! (1/10)*(1/10)*(1/10)*(1/10)*(1/10) = 0.00001 0.00001 * 100 = 0.001% It doesn't look very likely but keep in mind that this is the chance that out of four/five bets at 90%, all will be losing bets. Once you start making hundreds or thousands of bets, then the chances of such a losing streak happening rise significantly. In fact, this is the reason why the Martingale strategy of doubling your bet after every loss always eventually fails. |
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chaoman (OP)
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April 18, 2015, 04:02:48 AM |
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thanks man! I just have to have this strategy go for 24 hours to make 1 btc. The odds of any of the dice sites failing is .01%. So hopefully they can auto roll for 24 hours. Alternatively one or two or a few of the sites might fail and the others would continue to roll, or they all might fail. This leads to some interesting scenarios. I am rolling on 4 sites simultaneously. I actually think I might be making over 1000 satoshis a second.
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