Right now, the block reward is 25 and the difficulty is 11,,, So 10, shares (assuming they're difficulty one Bitcoin shares) is worth about BTC. Feb 14, · We’ll begin by checking the distribution of Bitcoin by addresses as presented by BitInfoCharts. As you can see, there are , addresses that have at least 1 BTC ( million coins in total), which is % of all addresses out there. Find the latest Bitcoin USD (BTC-USD) stock quote, history, news and other vital information to help you with your stock trading and investing.
How many shares of bitcoinBitcoin USD (BTC-USD) Stock Price, News, Quote & History - Yahoo Finance
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I only have three people on it at the moment, but we've mined about K shares in the past week or so. Assuming I sustain this, how long will it be before I will get a block? When mining in a pool you are simply looking for simpler blocks than those that are used in the network itself. Let's say you are mining in a pool that counts difficulty 1 shares. Since difficulty is defined as the ratio between the current target and the maximum as in easiest target, each increment in the difficulty doubles the number of hash operations you'd need to find a share.
Hence the probability of a share also being a block is:. Notice that in the last step we are talking about an expected number of shares. As mining is a random process there is no guarantee of finding a block in finite time.
Currently, in the year of , the month of July, and the pool of GHash. I'm not sure if this is the answer you are looking for, but this may help you put things into perspective. Sign up to join this community. The best answers are voted up and rise to the top. How many shares need to be mined before a block is released? Ask Question. Asked 7 years, 7 months ago.
Active 3 years, 1 month ago. Viewed 59k times. How many shares need to be processed on average before a block is found? I know that "luck" can be a huge factor which is why it's not quite as simple as that.
Failing that, what should I do if I'm currently mining at the above rate? Andy Andy 1 1 gold badge 1 1 silver badge 2 2 bronze badges. Active Oldest Votes. Thanks for the clarification. So would you suggest that i solo, join a pool or continue trying to make my own pool? That strongly depends on your constraints, can you sit for months or years without getting a block, and then get lucky one day that pays off for all the time, or do you need a regular, but smaller, income.
The first case is the solo mining option, the second is the pool mining option. From a reward point of view they are identical except fees in the case of a pool , just the reward distribution is different. For solo, it just seems like it'll take too long, my other concern is that Bitcoin difficulty will only get harder, so i fear that i would be mining for all eternity and not get anything.
That being said, I've setup my own pool with a friend btcpoolman.