Bitcoin Sign up or log in to customize your list._ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 5 down vote favorite 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.I only have three people on it at the moment, but we've mined about 100K shares in the past week or so.Assuming I sustain this, how long will it be before I will get a block?/profit/ yesterday, which says that it'll take one year and 138 days to find a block based on 1.2 GHash/s (which is roughly what I do when soloing).Failing that, what should I do if I'm currently mining at the above rate?mining-pools difficulty hashpower shares up vote 1 down vote 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.

That means to find share you have to complete 2^32 hash operations.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: share_difficulty / block_difficulty since the current difficulty (29th of May 2013) is 12'153'411.7098 the chances of a share of difficulty 1 being a block is 1/12'153'411.7098, and the expected number of shares until a block is being found is again 12'153'411.7098.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.up vote 0 down vote On average, as many as the difficulty currently is.up vote down vote Currently, in the year of 2015, the month of July, and the pool of GHash.io, (which is currently the largest mining pool in the world,) the number of shares amount to ~25 BILLION.

We, with the speed of ~6.40 PHashs/s, do an entire block in anywhere from a few hours, to several days, depending on the difficulty.I'm not sure if this is the answer you are looking for, but this may help you put things into perspective.The sincerest of luck to you good sir.Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.Not the answer you're looking for?Browse other questions tagged mining-pools difficulty hashpower shares or ask your own question.Jump to: , Contents 1 2 3 4 5 6 Pooled mining will not have a significant effect on the expectation of your payouts (it can decrease a bit due to fees), but it can dramatically decrease their variance.All reward systems use the concept of "share", a hash which is easier than the real difficulty and proves you have worked on finding a valid block.

Your reward when the pool finds a valid block depends on the shares you submitted.The main reward systems used are: Every share will give you, on average, the block reward (minus any pool fees) divided by the difficulty.For example, with a block reward of 50 BTC, 2% fee and difficulty of 240000, each share submitted will give on average 0.000204 BTC (204 μBTC).bitcoin banque franceOn average, one share will be found for every 2^32, or 4.295 billion, hashes calculated.bitcoin bowl fieldSo at 1 MHash/s, you will find a share on average every 72 minutes.bitcoin price yearlyIf you constitute a significant part of the pool (say, above 1%), your variance will be roughly proportional to your portion of the pool.bitcoin bet bot

If, for example, you are 20% of the pool, your variance will be 20% of solo mining variance (a decrease factor of 5 times).If not, your variance will not depend on the size of yourself or the pool, but rather on the scoring method used.For proportional, the decrease factor is roughly difficulty/ln(difficulty).ethereum brazilFor the geometric method the decrease factor is roughly (1 + 2*difficulty*c), where c is the score fee parameter used.mercado bitcoin servicosIncreasing the size of the pool will always decrease the variance, but at some point you will have diminishing marginal utility.bitcoin holdemQuote from: SoreGums on 2011/06/18 at 05:09:43 pm so what am i missing with this: having typed that out, I'm guessing that this is PPS... how does this promote pool hoping?bitcoin downside

if reward is only given after a block is found how is the operator out of pocket?sorry if this has all been covered elsewhere - most everything else I've read regarding payouts is not as simple as what I have put above Quote from: ewal on 2011/06/18 at 06:48:11 pm What you described is a transitional proportional payout scheme.cs go skins for bitcoinYour payout is proportional to the amount of work that you did for any given block.In your example, miner1 got 22.5 BTC (9*2.5).That is 22.5 BTC for 30 minutes of work = 45BTC per hour.If you compare to an unlucky block that takes 100 times as long to find: In this example miner1 still gets 22.5 BTC (900*0.025) except this time it took 100 times longer to get it.Now it was 22.5 BTC for 3000 minutes of work or 0.45 BTC per hour.Way less per hour because the block was very unlucky.Traditional Pay-per-share (PPS) is a different system where you get paid by the number of shares you submit regardless of if a block is found.

The payout per share is determined by taking 50/difficulty.Say difficulty is 20, so the price per share is 2.5 or 50/20.In scenario 1, miner1 makes 22.5BTC in 30 minutes (9*2.5) or 45BTC per hour.In scenario 2, miner1 makes 2,250 BTC in 3000 minutes or the same 45BTC per hour.In PPS, your pay per hour is always the same even in the short term, but the drawback is that the pool might go bankrupt if there are too many long blocks.In proportional, your pay per hour in any given 24 hours varies based on if blocks are lucky or unlucky and the drawback is that pool hoppers skip town on long blocks.In MaxPPS, your pay per hour in any given 24 hours may also vary if the pool is small enough that it isn't reliably finding multiple blocks per day, but the variation will lower than in proportional because the pool has withheld some of the payment you would have received from short blocks so that it can pay you more on long blocks.The benefits are that the pool can't go bankrupt, and there is no longer any incentive for pool hoppers to switch to another pool on long blocks.