A Bitcoin Mining Experiment for Everyone
Being involved in the video game industry, I am always interested in ways new technology can be leveraged through gamification to provide opportunities for engagement, retention and monetisation.
I created this experimental app to iterate on the fact that, on the bitcoin blockchain, there is a nonzero probability for any miner to confirm a block before anyone else does.
The app runs miners on a full bitcoin node back-end. Whenever a block is confirmed, a random user’s Bitcoin address is picked up to collect the reward. Note that this app is not a CPU mining client.
Here are few questions it can help answer:
- Is there a profitable mid-point (i.e. balance between user engagement and game monetization strategies)?
- Can committing more hash power generate enough incentive while keeping operational costs low enough?
- Can limits negatively impact user engagement (e.g. limiting the number of participants per block, limiting the number of blocks per day, per hour…)?
- Can adding more depth positively impact user engagement (e.g. suggested on Reddit : allowing users to play against a range of reserved nonces)?
Disclosure: The node is also used for other projects of mine so I do not guaranty the hash rate and service availability. Running a full bitcoin node involves some costs which this setup allows me to partially negate while providing a free experiment.
What are the odds?
As much as I would be thrilled to see someone win a block using this system, the current probability remains pretty low – this tool is currently for fun and educational purposes.
The probability of winning for a specific participant is effectively based on the compound probability of two independent events, the probability of confirming a block and the probability of the participant’s address being picked up.
D = Global block difficulty.
H = Hash power (per second).
T = Average time (in second) required to confirm a block.
P = Participant count.
Compound probability = 1 ÷ (D x 232 ÷ (T x H)) ÷ P
Take a look at my article Bitcoin Solo Miner for a comparison with the National Lottery odds and further explanation.
How to use it?
Navigate to the Lucky Miner app page (no download required) and follow the on-screen instructions.
Once your address is submitted, you do not need to keep the app running (this app is not a CPU miner client). The server automatically adds you to the next block search. Simply enter the same address when you re-start the app to check the current progress, or check the online logs.
Where can I check the results?
You can check the live block logs here: http://download.blockonomy.org/.miner/results
Additionally, when running the app a notification is displayed each time a block is confirmed by anyone on the bitcoin network (if you are in the current draw).
Although not required, if you happen to win the Jackpot donate here 🙂
Please Donate To Bitcoin Address: [[address]]
Should you have any issue, ideas for improvement and feedback feel free to get in touch.
Good Luck and have fun!