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Title: Mining Profitability Calculations Post by: CryptoJunky on May 27, 2013, 08:15:56 PM So I decided to put together a mining profitability calculator (for fun/pratice, not going online) and have a couple of questions regarding the equations commonly used. I've found equations both here and on the Bitcoin stack exchange, but the simplest was on BFL's forum. My question is regarding what some of the constants in the below equation represent:
Quote (H x B / D) x (60 x 60 x 24 x 65535 x 10^6 / 2^48) where H = your hash rate in Mhash/s, B = block reward in BTC & D is the current (or expected) difficulty. The BTC figures have been rounded DOWN to 8 decimal places and the USD rounded DOWN to 2 decimal places. source (https://forums.butterflylabs.com/showwiki.php?title=FAQ:Get+Rich+Quick+Not+so+fast) I understand that 60 x 60 x 24 is the number of seconds in the day, but am still unclear on where 65535, 10^6, and 2^48 come into play. Any help is appreciated. Title: Re: Mining Profitability Calculations Post by: KS on May 27, 2013, 09:15:23 PM So I decided to put together a mining profitability calculator (for fun/pratice, not going online) and have a couple of questions regarding the equations commonly used. I've found equations both here and on the Bitcoin stack exchange, but the simplest was on BFL's forum. My question is regarding what some of the constants in the below equation represent: Quote (H x B / D) x (60 x 60 x 24 x 65535 x 10^6 / 2^48) where H = your hash rate in Mhash/s, B = block reward in BTC & D is the current (or expected) difficulty. The BTC figures have been rounded DOWN to 8 decimal places and the USD rounded DOWN to 2 decimal places. source (https://forums.butterflylabs.com/showwiki.php?title=FAQ:Get+Rich+Quick+Not+so+fast) I understand that 60 x 60 x 24 is the number of seconds in the day, but am still unclear on where 65535, 10^6, and 2^48 come into play. Any help is appreciated. 1/(2^48 - 65535) = avg time to find a block (as I remember it) also used as ≃2^32. (65535 is removed as it represents the seed block) couldn't find the link anymore but there was a thread on "bitcoin.stackoverflow.com" with the formula you're looking for (i.e. not the one you're using). Happy hunting :) Title: Re: Mining Profitability Calculations Post by: jspielberg on May 27, 2013, 09:40:25 PM https://en.bitcoin.it/wiki/Difficulty
Title: Re: Mining Profitability Calculations Post by: CryptoJunky on May 27, 2013, 10:56:47 PM So I decided to put together a mining profitability calculator (for fun/pratice, not going online) and have a couple of questions regarding the equations commonly used. I've found equations both here and on the Bitcoin stack exchange, but the simplest was on BFL's forum. My question is regarding what some of the constants in the below equation represent: Quote (H x B / D) x (60 x 60 x 24 x 65535 x 10^6 / 2^48) where H = your hash rate in Mhash/s, B = block reward in BTC & D is the current (or expected) difficulty. The BTC figures have been rounded DOWN to 8 decimal places and the USD rounded DOWN to 2 decimal places. source (https://forums.butterflylabs.com/showwiki.php?title=FAQ:Get+Rich+Quick+Not+so+fast) I understand that 60 x 60 x 24 is the number of seconds in the day, but am still unclear on where 65535, 10^6, and 2^48 come into play. Any help is appreciated. 1/(2^48 - 65535) = avg time to find a block (as I remember it) also used as ≃2^32. (65535 is removed as it represents the seed block) couldn't find the link anymore but there was a thread on "bitcoin.stackoverflow.com" with the formula you're looking for (i.e. not the one you're using). Happy hunting :) Awesome, thanks for the explanation, that's what I was looking for. Title: Re: Mining Profitability Calculations Post by: Amph on May 28, 2013, 07:24:38 AM wasn't just
hash rate x number of hours per day x block value/difficulty? |