Wow, a few million ADA.
I bought late Dec and I can see I got into this way too late. Should have checked these forums. Probably will sell out once it goes to $1.
Agree with the OP, there are a bunch of ppl trying to make money on the staking. Not saying they are bad people, we all have bills to pay, but asking for 1% is a joke. Leading edge hardware is not required for Proof of Stake. All you need is basic level Amazon EC2 machines, replicated for redundancy, and you are done. Cost, about $40 p.m. Fuck it, I might run one for free just for the LOLs.
I’ve had a couple of drinks, but lets see if it’s worth it for Mr 3 Million ADA to stake with a pool. I hope I get the maths right. No warranty is implied or given, bla bla bla.
If they use the circulating amount of ADA, rather than the total supply (which makes sense because you don’t want voids), then that is 25,927,070,538.
Dude is hodling 3,000,000 (suddenly that don’t seem so big)
So the chance of being chosen in a lottery is: 0.0001157092
What does that mean?
If a day is 24h is 86400 seconds.
And if a slot is 120 seconds (which is what is in the docs, but I hear different things)
Then number of “events” per 24 hours period is 720. Right?
The number of wins for each 24 hours period is 0.083
And I think the number of wins per 30 day month is 2.5, so this guy probably won’t need to join a pool. He will run his own pool.
But if we change the amount of hodl to say 500,000 ADA, probably, on average, you won’t win in a given month. So yea, then you need a staking pool.
But if dude is already running a pool, and he said he is going to run it for free to others - then Why TF would anyone join a pool where you have to pay?
Now that I am thinking about this - here is the obvious question - what frequency of payment, is the minimum an average person would want?
I myself, would like to see 5 payments a day (more would be nice, but I do not think I would really care that much); on the other hand, fewer than 3 a day, I would probably move to a larger pool.
So how much ADA does a pool need for 5 payments a day?
Given the circulating supply, how many pools does that allow?
At least according to my drunk maths. If wrong, pls correct. Let me know your thoughts.