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Title: Calculating Earnings Post by: Beans on July 15, 2012, 10:23:35 AM I need to figure out how to calculate expected payouts from the difficulty + price + hashrate + timeframe.
I know there is a online calculator, but I need the actual formula so I can do it myself. Title: Re: Calculating Earnings Post by: wareen on July 15, 2012, 10:30:21 AM Here you go: https://en.bitcoin.it/wiki/Generation_Calculator (https://en.bitcoin.it/wiki/Generation_Calculator)
Title: Re: Calculating Earnings Post by: deepceleron on July 15, 2012, 10:45:29 AM Here you go:
Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. Title: Re: Calculating Earnings Post by: Beans on July 15, 2012, 10:50:07 AM Here you go: You know where he is getting 1005.82838 from?Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. Title: Re: Calculating Earnings Post by: deepceleron on July 15, 2012, 10:54:00 AM Here you go: You know where he is getting 1005.82838 from?Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. From the probability (http://blockexplorer.com/q/probability) of finding a block solution with a single hash and the formula that relates that to difficulty, with lots of algebra carrying the units. Title: Re: Calculating Earnings Post by: Beans on July 15, 2012, 11:02:38 AM Yes I do, because he is me! From the probability (http://blockexplorer.com/q/probability) of finding a block solution with a single hash and the formula that relates that to difficulty, with lots of algebra carrying the units. I need to do weekly payouts to investors based on 100/mh per share rate. The online calculators don't seem to be very accurate. There should be a relatively simple method to figuring it out each week.. Title: Re: Calculating Earnings Post by: John (John K.) on July 15, 2012, 11:03:55 AM Here you go: You know where he is getting 1005.82838 from?Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. From the probability (http://blockexplorer.com/q/probability) of finding a block solution with a single hash and the formula that relates that to difficulty, with lots of algebra carrying the units. Title: Re: Calculating Earnings Post by: Beans on July 15, 2012, 11:10:41 AM Here you go: You know where he is getting 1005.82838 from?Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. From the probability (http://blockexplorer.com/q/probability) of finding a block solution with a single hash and the formula that relates that to difficulty, with lots of algebra carrying the units. I thought he was saying that number is not always the same? Title: Re: Calculating Earnings Post by: John (John K.) on July 15, 2012, 11:14:01 AM Here you go: You know where he is getting 1005.82838 from?Here's the current bitcoin difficulty: http://blockexplorer.com/q/getdifficulty (http://blockexplorer.com/q/getdifficulty). I reduced the formula down to: average BTC per Day = (megahashes per second / difficulty) * 1005.82838 so: 100 megahashes/s at 1379223.4296725 difficulty = ( 100 / 1379223.4296725 ) * 1005.82838 = .07292715 BTC per day Add ~1% in transaction fee wins (if paid by pool), subtract downtime, connectivity issues, and rejected block overhead, and subtract pool fees. If you join a large pool that solves several blocks a day your results will be very close to this. If you are solo mining with a GPU, it is more like a lottery - although stats say it would average eight months to win 50 BTC at current difficulty with a good ATI GPU, you might win it tomorrow or you might never win in your lifetime. From the probability (http://blockexplorer.com/q/probability) of finding a block solution with a single hash and the formula that relates that to difficulty, with lots of algebra carrying the units. I thought he was saying that number is not always the same? |