|
Title: Noob: basic mining math question Post by: jtreble on October 10, 2019, 03:23:04 PM Noob/first post - appreciate some help. I'm doing some basic modelling and would like to know if I have the following logic right:
If the current network hash rate is 360,000,000,000 TH/h; one has a 244,800 TH/h miner; and, the network reward is 75 (BTC/h) one would theoretically expect to mine 0.000051 BTC/h, correct? What am I missing? :). Apologies for all the "hour" based units - this is a hydro application. TIA. Title: Re: Noob: basic mining math question Post by: xhomerx10 on October 10, 2019, 08:47:29 PM Noob/first post - appreciate some help. I'm doing some basic modelling and would like to know if I have the following logic right: If the current network hash rate is 360,000,000,000 TH/h; one has a 244,800 TH/h miner; and, the network reward is 75 (BTC/h) one would theoretically expect to mine 0.000051 BTC/h, correct? What am I missing? :). Apologies for all the "hour" based units - this is a hydro application. TIA. You can use that as a rough estimate but the actual amount should be calculated using the difficulty D The number of blocks you will find can be calculated using ht/(232D) Where; h is your hash rate in hashes per second t is the time spent mining in seconds D is the current difficulty So with a hash rate of 244,800 TH/h (which equates to 68,000,000,000,000 h/s) and you mine for an hour (3600 seconds) at the current difficulty of 13,008,091,666,971.9 You can expect to mine 4.38165e-6 blocks in one hour The block reward is presently 12.5 coins so 4.38165e-6 x 12.5 = .00005477 Bitcoin/hr The hash rate of the network is never known and must be calculated based on the number of blocks being found per given unit of time which is a direct function of difficulty. There is always variability due to the probabilistic nature of hashing. If the network hashrate appears to be stable over a longer time frame ie a week, then your calculation would be fairly accurate but if the hash rate is increasing/decreasing over that time period, then more/less than 75 coins per hour will be found if the difficulty has not yet reset. The reset period is 2016 blocks which takes on average 2 weeks. Title: Re: Noob: basic mining math question Post by: jtreble on October 11, 2019, 01:15:06 PM Wow! I hit the jackpot. Thanks very much for your reply.
Title: Re: Noob: basic mining math question Post by: odolvlobo on October 12, 2019, 11:43:17 PM Noob/first post - appreciate some help. I'm doing some basic modelling and would like to know if I have the following logic right: If the current network hash rate is 360,000,000,000 TH/h; one has a 244,800 TH/h miner; and, the network reward is 75 (BTC/h) one would theoretically expect to mine 0.000051 BTC/h, correct? Roughly speaking, your portion of the block reward is equal to your portion of the total hash rate. If your hash rate is 244,800 TH/h and the total hash rate is 360,000,000,000 TH/h, then your portion is 0.00000068 of the block reward, or 0.000051 BTC. However, that calculation makes several assumptions. xhomerx10 describes how to get the actual expectation. |