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Author Topic: Bitcoin - expected hashrate-bitcoin conversion  (Read 3382 times)
Jeff
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May 15, 2011, 01:04:51 PM
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I've been doing about 260 MHash/s for about 24 hours now and still have no bitcoins.  Is this normal?  I was expecting to have 1 or 2 by now.

Approximately what can I expect in terms of conversion of hashrate x time into bitcoins?

Thanks,
Jeff
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tomcollins
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May 15, 2011, 01:08:01 PM
 #2

I've been doing about 260 MHash/s for about 24 hours now and still have no bitcoins.  Is this normal?  I was expecting to have 1 or 2 by now.

Approximately what can I expect in terms of conversion of hashrate x time into bitcoins?

Thanks,
Jeff

If you are not in a pool, you get 50 or 0.  If you are in a pool, you'd probably have a few by now.
Pieter Wuille
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May 15, 2011, 01:08:56 PM
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You need on average 4295*difficulty Mhash before you generate a block (with a reward of 50 BTC, currently). At 260Mhash/s, that means approximately once a month. You're better off mining in a pool which such a hashrate, where you get much more frequent but smaller payouts.

aka sipa, core dev team

Tips and donations: 1KwDYMJMS4xq3ZEWYfdBRwYG2fHwhZsipa
[Tycho]
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May 15, 2011, 01:10:17 PM
 #4

I've been doing about 260 MHash/s for about 24 hours now and still have no bitcoins.  Is this normal?  I was expecting to have 1 or 2 by now.
Approximately what can I expect in terms of conversion of hashrate x time into bitcoins?
If you are mining solo then you can expect one block of 50 BTC each 4 weeks and 2 days. (But can vary from few seconds to six months, depending on your luck).

Welcome to my bitcoin mining pool: https://deepbit.net - Both payment schemes (including PPS), instant payout, no invalid blocks !
ICBIT Trading platform : USD/BTC futures trading, Bitcoin difficulty futures (NEW!). Third year in bitcoin business.
Tukotih
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May 15, 2011, 03:38:54 PM
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Close thread?

The answer is: It will take aprox. 1 month with your hashrate to get 50BTC. Use a mining pool.

Donations always appreciated: 1GkRu9rZxk5iMRzsrcZxZ3BUHV1SWNZ9RB
IMPORTANT! Switch from deepbit: http://forum.bitcoin.org/index.php?topic=8653.0
Jeff
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May 16, 2011, 09:34:09 PM
 #6

Thanks for the responses.  They were all very helpful.

I've got onto a pool - I'm using the poclbm-mod pool (bitcoinpool.com).  Question now is: the poclbm-mod application is showing that I'm doing about 225 - 230 MHash/s, but the bitcoinpool.com website is showing me as only doing 128.85 Mh/s.  Why such a large discrepency?

Also, the recommended/default parameters for poclbm-mod included the /low argument... would this account for why I'm getting 225 Mh/s now, compared to about 265 before with poclbm?

Thanks again,
Jeff
rcsheets
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May 16, 2011, 10:56:15 PM
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You need on average 4295*difficulty Mhash before you generate a block
Can you explain how you arrived at that number? Why is it 4295? Also, by "on average" do you mean the same thing that I mean if I say that when brute forcing a symmetric-key cipher, I will on average find the correct key at halfway through the key space?
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May 17, 2011, 01:53:49 AM
 #8

I've been doing about 260 MHash/s for about 24 hours now and still have no bitcoins.  Is this normal?  I was expecting to have 1 or 2 by now.

Approximately what can I expect in terms of conversion of hashrate x time into bitcoins?

Thanks,
Jeff


http://www.alloscomp.com/bitcoin/calculator.php
is a nice little tool if you're considering going it solo.
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