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Author Topic: How do i use PPS and 1 GH/s to determine ⊅BTC earned?  (Read 2110 times)
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May 01, 2012, 03:15:29 AM
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Example:
If PPS for a pool is .00003 and my rig hashes 1010 MH/s, how do I determine ⊅BTC earned per day?

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
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May 01, 2012, 04:02:28 AM
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1 share ≈ 2^32 hashes or 4294.967296 megahashes
60*60*24 seconds in a day = 86,400 seconds/day
1010MH/sec = 87,264,000 Megahashes/day

Shares/day = (MHash/day) / (Megahashes/share)
Shares/day = 87264000 / 4294.967296
Shares/day ≈ 20317.73
Payout/day = 20317.73 * 0.00003 Bitcoins/share
Payout/day = 0.60953199 Bitcoins

Feel free to tip. Smiley
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May 01, 2012, 06:16:12 PM
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Yeah that can be done if your a mathamagician or

http://bitcoinx.com/profit/

will give you a good idea of what you will get. Its within .059 BTC of what I am getting paid out right now and
that probably due to variance.

Since your hash rates will vary, a close estimate is probably going to be just fine.

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May 03, 2012, 12:14:49 PM
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I asked the question, not to figure out how much I could make, which is the machines potential, but learn how much a pool is paying out at the time the calculation is done. A way to compare pools without having to go mine with them, as long as they make valid information available.
There can be a 10-15% difference between better paying pools and lower paying pools. If you didn't know this you might think you need to tweak your hardware more.

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
P2Pool Server List | How To's and Guides Mega List |  1EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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May 03, 2012, 12:30:30 PM
 #5

I asked the question, not to figure out how much I could make, which is the machines potential, but learn how much a pool is paying out at the time the calculation is done. A way to compare pools without having to go mine with them, as long as they make valid information available.
There can be a 10-15% difference between better paying pools and lower paying pools. If you didn't know this you might think you need to tweak your hardware more.

Well that is far simpler calculation.


fair value for PPS = (current block reward) / (current difficulty) in BTC per share.

Current difficulty is 1,509,101.11 and current avg block reward is ~50 so full value for PPS share is 0.00003313 (or 3313 satoshis).
.  If pool is paying less than that then the difference as a % is an undisclosed fee.

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May 03, 2012, 08:00:28 PM
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I asked the question, not to figure out how much I could make, which is the machines potential, but learn how much a pool is paying out at the time the calculation is done. A way to compare pools without having to go mine with them, as long as they make valid information available.
There can be a 10-15% difference between better paying pools and lower paying pools. If you didn't know this you might think you need to tweak your hardware more.

Wel if this is about ebtter paying pools, mine at Eligius. It's 0% fee and PPS. Don't even need to setup any logins or anything, just point your miners at http://<your address here>:x@mining.eligius.st:8337. Payout is automatically queued (not guaranteed immediately, but queued) around 0.67 BTC or a week after your last submitted share. Stats for your "login" can be seen at http://eligius.st/~artefact2/7/<your address here>. Mine as an example is http://eligius.st/~artefact2/7/1CxcPP8FVktppy4PHTYJKnZFqQeyZ3jArb . Any of the huge variances you may see is a result me manually adjusting GPU's clocks/volts to agree with the warming weather.

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May 03, 2012, 08:12:12 PM
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I asked the question, not to figure out how much I could make, which is the machines potential, but learn how much a pool is paying out at the time the calculation is done. A way to compare pools without having to go mine with them, as long as they make valid information available.
There can be a 10-15% difference between better paying pools and lower paying pools. If you didn't know this you might think you need to tweak your hardware more.

Wel if this is about ebtter paying pools, mine at Eligius. It's 0% fee and PPS. Don't even need to setup any logins or anything, just point your miners at http://<your address here>:x@mining.eligius.st:8337. Payout is automatically queued (not guaranteed immediately, but queued) around 0.67 BTC or a week after your last submitted share. Stats for your "login" can be seen at http://eligius.st/~artefact2/7/<your address here>. Mine as an example is http://eligius.st/~artefact2/7/1CxcPP8FVktppy4PHTYJKnZFqQeyZ3jArb . Any of the huge variances you may see is a result me manually adjusting GPU's clocks/volts to agree with the warming weather.
Eligius is SMPPS, not PPS, unless something changed recently.

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May 03, 2012, 08:19:10 PM
 #8

Yeah it is a good pool but people should understand the "owed" funds are not guaranteed.  If the pool fails those funds could potentially never be repaid.  arsbitcoin is a good example (although IMHO the failure had more to do with neglect).
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May 04, 2012, 10:29:59 AM
 #9

Not to mention issues with how your shares are potentially used without your consent on rEligius.

Primary developer/maintainer for cgminer and ckpool/ckproxy.
Pooled mine at kano.is, solo mine at solo.ckpool.org
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May 04, 2012, 02:35:52 PM
 #10

Quote from: DeathAndTaxes
fair value for PPS = (current block reward) / (current difficulty) in BTC per share.

Current difficulty is 1,509,101.11 and current avg block reward is ~50 so full value for PPS share is 0.00003313 (or 3313 satoshis).
.  If pool is paying less than that then the difference as a % is an undisclosed fee.
So this is the ideal maximum payout possible based on the difficulty you list regardless of the actual scoring system?

For example, I'm trying to compare these 2 pools:

Quote
Pool: [ 1,067.82 GHash/s | 155 Users | 468 Workers ]     Server Time: [ 2012-05-04 13:42:53 CET ]
Bitcoin Round: [ 475,998 Shares | 0d 0h 33m | 99.56% Efficiency ]       Namecoin Round: [ 259,637 Shares | 0d 0h 18m | 94.38% Efficiency ]
From OZCoin.net

Quote
Active Miners 898 Round Duration 00:29:51
Current Speed 444.39 GH/s Round Shares 187989
Difficulty       Last Trade          Daily Avg
1508590           5.1200            5.1000       BTC
653463            0.0090             0.0092       NMC
From EclipseMC

1 share ≈ 2^32 hashes or 4294.967296 megahashes <--This value is a constant, correct?
Full value for PPS share is 0.00003313 <---Comparison value.

Ozcoin
1,067,820 * 86,400 = 92 259 648 000 MHash/Day
92,259,648,000 / 4294.967296 = 21,480,873.2
21,480,873.2 * .00003313 = 711.661329 Payout Per Day
711.661329 / 1,067.82 = 0.666461884

EclipseMC
444,390.00 * 86,400 = 38,395,296,000 MHash/Day
38,395,296,000 / 4294.967296 = 8,939,601.48
8,939,601.48 * .00003313 =  296.168997 Payout Per Day
296.168997 / 444.39 = 0.666461885 Payout per Day per Gighash

Hmm. Ozcoin and EclipseMC no longer have 12%+ difference.
Are there other factors causing the variance that can explain a 12%+ difference in payout per day per Gigahash between pools?
How would rejected and stales affect the ideal payout per gigahash for EclipseMC @ 0.666461885?

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
P2Pool Server List | How To's and Guides Mega List |  1EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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May 10, 2012, 09:34:27 AM
 #11

both are DGM pools not PPS pools
DGM has a "luck" or variance factor Smiley
if emc were having a bad run while we had our awesome run yesterday 12% could be easy.
maybe next time emc has luck we dont, thats how it goes Smiley
What DGM offers is over time to even out to 0fee PPS this time can be months not minutes or hours Smiley

| Ozcoin Pooled Mining Pty Ltd https://ozcoin.net Double Geometric Reward System https://lc.ozcoin.net for Litecoin mining DGM| https://crowncloud.net VPS and Dedicated Servers for the BTC community
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May 10, 2012, 05:55:24 PM
 #12

So you are saying that DGM costs more to miners from day 1 until day n, when mining has become 0 fee.
How much more does DGM cost miners initially compared to the PPS worksheet above?

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
P2Pool Server List | How To's and Guides Mega List |  1EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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May 11, 2012, 01:26:00 AM
 #13

sorry? I do not understand "cost miners"
the DGM thread covers this quite well

I like to think of it as a capacitor. If you have a light bulb and capacitor in parallel connected to a DC source, the bulb won't be lit right away. As the capacitor charges more current is routed through the bulb and it becomes brighter, until it reaches its maximum brightness as if there was no capacitor. If the power source is disconnected, the bulb gradually fades as the capacitor discharges its stored energy through the bulb. No energy is lost.

Of course there are many other real-life examples of this dynamic. Electric radiative space heaters come to mind - you turn them on and only after a while they become hot and heat the room. The dynamic is the same also quantitatively - in all 3 cases it can be modeled with (dx / dt) = a - bx, where a becomes 0 when the source is discontinued, and where x is itself the derivative of some quantity of interest.


if there is an initial "cost" then when you stop mining there is a "bonus" that evens out this "cost"

| Ozcoin Pooled Mining Pty Ltd https://ozcoin.net Double Geometric Reward System https://lc.ozcoin.net for Litecoin mining DGM| https://crowncloud.net VPS and Dedicated Servers for the BTC community
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