Satoshi into bitcoin equation

[chaoman]

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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[yampi]

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.

[freeyourmind]

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) * 86,400

So @ 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

[DannyHamilton]

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.

[chaoman]

why is everybody coming up with different answers lol.

[Lorenzo]

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

[chaoman]

I see. Math is not my strong suit haha. Thanks guys

[freeyourmind]

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.

[chaoman]

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!

[Lorenzo]

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.

[chaoman]

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.