Chances of becoming a baker with only 10,000XTZ?


#1

I can see many delegation “groups” that have millions of XTZ in their staking power. I’ve got 10,000 XTZ in my wallet and have registered to become a baker and my node is up. What is the chance I’ll get picked? Is it purely random or does the amount you have staked factor in? Basically, do I even stand a chance of getting picked to bake?


#2

Your odds should be linearly proportional to your stake. So someone with a million XTZ baking should be 100 times more likely than you. So yes, you do have a chance. You’ll face more variance in the short term but long term your profits should converge to what you’d get if you’d simply delegated plus the savings from not paying them a percentage.


#3

Remember to run the baker, endorser, and accuser at the same time. There are actually more rewards from endorsing than from baking blocks.


#4

Do you need extra tezos for the deposit, on top of 10,000 Tezos ?


#5

No. Your bond will be taken from that 10K but the network will still see a 10K stake/roll.


#6

Good to know. Thanks.