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?
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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
DThe number of blocks you will find can be calculated using
ht/(2
32D)
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.
