Please help. I'm trying to understand how to calculate a realistic expected income from bitcoin mining with a pool using PPS.
Let's say I had 216 Ghash/s and I'm using BTCGuid for my pool Are the following calculations correct???
(1 / Network Difficulty * 25) - Pool Fee (7.5%)
0.0000020570355057 PPS based on 12153412 difficulty
0.0000001542776629 minus pool fee
0.0000019027578428 PPS rate (matches the pool's website)
I read that on average, one share will be found for every 2^32, or 4.295 billion, hashes calculated. So at 1 MHash/s, you will find a share on average every 72 minutes.
so 3000 per minute at 216 Ghash/s
would be 180000 per hour
about 4320000 per day
thus 8.219913881 revenue per day??? (doesn't seem right)
246.5974164 per month
2959.168997 per year
It doesn't look right to me. When I put in 216 Ghash/s on several free calculators online I get crazy returns. What am I doing wrong?
Thank you for your help! I appreciate your time.