This is my calculation for whehter or not to post blinds or wait for blinds when joining a new table.

Lets say my winrate is 1 PTBB/100. This is 0.01 PTBB / hand. Then I make 2 Big Blinds / 100 hands, or 0.02 Big Blind / hand expected.

Lets say I join a table. The equation is: # seats away from BB * 0.01 PTBB/hand > PTBB/2. The left side of the equation is the amount of money I shoudl make if I can play those hands (same thing as # hands * EV per hand). The right side of the equation is the amount to post blinds.

As long as left side is greater than right side, it is profitable to post blinds. For a 1PTBB/100, the equilibrium position from blinds is 0.50 PTBB / 0.01 PTBB = 50. Thus I need to sit 50 seats away from the big blind. As we can see, it is NOT PROFITABLE TO POST BLINDS AT ALL for a 1PTBB/100 win rate.