Technically, true. Practically, false. Your odds are still zero and you're spending money on energy. In nearly every possible scenario, I'm acting in a more economically rational way.
Increased power gives you a better chance. But most are pool mining so they'd get the benefits of a larger percentage of the pool's winning. But increasing to say 160k hashes from 80k hashes per second, like a Jade would give, takes you from near zero to still near zero of a chance.
If you have a needle in a haystack, having millions of other people also trying to find a needle in their haystack doesn't make your search any more or less difficult. The difference is that if someone finds it before you, you just get a new needle in a new haystack to search for. If the difficulty adjusts down because of hash power decreasing, sure, your odds have marginally increased. But then your odds are fixed for the next two-ish weeks depending on your hash power. Mining with a RaspPI still gives you the same, near zero odds regardless of what hash rate does over the next few years, barring total collapse.
That's just simply wrong though.
Well, yeah, I hope that's true.
Hence "essentially zero."
It's technically not zero, but it might as well be.
The difficultly would never adjust because you'd never mine the requisite blocks to ever have difficulty adjust.
Not true at all. Because there is another block that follows. This isn't a winner take all event. If I was the only miner on the network, my odds of getting the bext block are obviously 100%. But the odds of that block being mined in my lifetime, if only using a RaspPi, are essentially zero.
The difficultly at the moment is is the difficultly and everyone is competing against that. Not against each other.
Actually it won't. Me competing or not has no bearing on your chance to win.
Great talk. I love that they basically trash lightning for 20 minutes and then all have such optimism for where it can go in the end. #lightning #bitcoin
Something about RaspPis according to one of their notes.
The odds of winning, even if everyone on Earth solo mined with a RaspPi, is extremely small. Like once in a thousand years small.
More or less the same as right now is a safe bet.
I can wait to put those 3 hashes per second of compute power that's left over to work!!
ππ€£π
#bitcoin π
Saw Elder for the second time last night. Just fantastic. #tunestr
https://open.spotify.com/track/5ya5NjAqxfHnuyweRUTotI?si=xhExueTzSI-7gXVqfENsaw
And such a naive one that you have.