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Author Topic: How to calculate/verify daily bitcoins mined by particular mining company?  (Read 748 times)
lordquanta
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January 16, 2017, 02:50:34 PM
 #1

Hello,

I hope I'm starting thread in correct section. Is there a way to verify or calculate daily bitcoins calculated by particular bitcoin miner from particular pool. If we want to check available pool from  https://blockchain.info/pools  then there is a list of available pools.

If we select https://blockchain.info/blocks/Bitcoin.com as specimen pool, then clicking on that pool shows following information:
https://blockchain.info/blocks/Bitcoin.com

Now, how to calculate amount of bitcoins mined from this pool hourly/daily basis?


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January 16, 2017, 03:13:14 PM
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well you can't and it is a pretty hard thing to do.
what important thing you have to know is that unless the pools are announcing they mined that block or they mine to a known bitcoin address, there is no way of knowing which pool/farm mined which block.

considering that, when you click on the link like this: https://blockchain.info/blocks/BTC.com you see the blocks they (supposedly) have mined, then clicking on each block hash you can see the timestamp of each block, add up the reward+fees and that is how much each of them earned in the time-frame you have in mind.

example: https://blockchain.info/block/0000000000000000032adcc90c8f7b24d12a0ef83d12093b0a21a543d2986551 found by BTC.com
has 2017-01-16 14:19:46 as timestamp
reward: 12.5 + 0.69552371
now go back to timestamp bigger than or equal to 2017-01-15 14:19:46 for last 24 hour

this(https://blockchain.info/address/3NA8hsjfdgVkmmVS9moHmkZsVCoLxUkvvv) seems to be the address they mine to, you can use things like this to add up how much each pool is mining too.

you can also write a quick code to get the raw block information then add up the reward + fee based on the timestamp in the raw block

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January 16, 2017, 06:15:52 PM
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Most miners embed their names in the blocks. That's the only information there is to go on; however, miners aren't required to do that and there is no guarantee that they are being truthful.

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January 17, 2017, 07:24:13 AM
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well you can't and it is a pretty hard thing to do.
what important thing you have to know is that unless the pools are announcing they mined that block or they mine to a known bitcoin address, there is no way of knowing which pool/farm mined which block.

considering that, when you click on the link like this: https://blockchain.info/blocks/BTC.com you see the blocks they (supposedly) have mined, then clicking on each block hash you can see the timestamp of each block, add up the reward+fees and that is how much each of them earned in the time-frame you have in mind.

example: https://blockchain.info/block/0000000000000000032adcc90c8f7b24d12a0ef83d12093b0a21a543d2986551 found by BTC.com
has 2017-01-16 14:19:46 as timestamp
reward: 12.5 + 0.69552371
now go back to timestamp bigger than or equal to 2017-01-15 14:19:46 for last 24 hour

this(https://blockchain.info/address/3NA8hsjfdgVkmmVS9moHmkZsVCoLxUkvvv) seems to be the address they mine to, you can use things like this to add up how much each pool is mining too.

you can also write a quick code to get the raw block information then add up the reward + fee based on the timestamp in the raw block


Thank you BrewMaster for explanation. I checked the each block and noticed that reward for each block is 12.5 thus if someone is mining in private pool and found 10 blocks then for that day total return would be 125 bitcoins + 0.69552371 * 10) = 131.9552371 per day

If in owner of private pool allows other miners to mine then how much pool owner earn?  


Most miners embed their names in the blocks. That's the only information there is to go on; however, miners aren't required to do that and there is no guarantee that they are being truthful.

Thank you odolvlobo for further details.

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January 17, 2017, 05:02:33 PM
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Thank you BrewMaster for explanation. I checked the each block and noticed that reward for each block is 12.5 thus if someone is mining in private pool and found 10 blocks then for that day total return would be 125 bitcoins + 0.69552371 * 10) = 131.9552371 per day

If in owner of private pool allows other miners to mine then how much pool owner earn? 

the reward halves approximately every 4 years (every 210,000 blocks) already happened twice from 50 to 25 and as you see today to 12.5BTC

the fee amount is not fixed in all blocks, you have to find them one by one (0.69552371 is only for one of the blocks) they are usually about 0.5 to 1.5
so it would be 10 * 12.5 + (fee of 1st block + fee of 2nd block + .... fee of 10th block)

i have never mined so i am not sure about this but how much each individual miners earns when connected to a pool depends on how much share they get based on their hashrate and how much fees the pool is going to take and how they share the earnings.
and the earning of the pool owner is from those fees AFAIK.

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

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January 18, 2017, 07:27:02 AM
 #6

Thank you BrewMaster for explanation. I checked the each block and noticed that reward for each block is 12.5 thus if someone is mining in private pool and found 10 blocks then for that day total return would be 125 bitcoins + 0.69552371 * 10) = 131.9552371 per day

If in owner of private pool allows other miners to mine then how much pool owner earn? 

the reward halves approximately every 4 years (every 210,000 blocks) already happened twice from 50 to 25 and as you see today to 12.5BTC

the fee amount is not fixed in all blocks, you have to find them one by one (0.69552371 is only for one of the blocks) they are usually about 0.5 to 1.5
so it would be 10 * 12.5 + (fee of 1st block + fee of 2nd block + .... fee of 10th block)

i have never mined so i am not sure about this but how much each individual miners earns when connected to a pool depends on how much share they get based on their hashrate and how much fees the pool is going to take and how they share the earnings.
and the earning of the pool owner is from those fees AFAIK.

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

Thanks again BrewMaster.  Wiki link was helpful. Looks like I need more related reading from the wiki. 

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