How do Difficulty and Estimated Hashrate relate to each other?
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I assume difficulty is in negative correlation with mining profit. And (Your Hashrate)/(Estimated Hashrate) is the probability of mine a block every 10 minutes.
Is my understanding correct?
How to compute profit based on difficulty?
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I thought Estimated Hashrate * block time = Difficulty
But I tried to compute with numbers in Sia Explorer, it's a little bit off.
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The estimated hashrate is based on how long it took to find the last 200 blocks, I believe. You use that time + the difficulty of each block to estimate the number of miners on the network.
You should use the difficulty to compute expected profit, but realize that if you're profit is under 25,000 coins a day you may go as long as a month without finding a block sometimes. A difficulty of 2000TH means that you have to do 2000TH or 2,000,000 GH on average to find a block. So if you are mining at 1 GH/s, it will take you 2 million seconds. That's about 10,000 coins per day.
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That's theoretical, not saying it isn't true, but there are a lot of other factors involved here...
My example as i gave a few times.
i'm mining with 55Ghz, found 3 blocks in 6 days.
So unrealistic..It would take you 2 million seconds to find a block with 1Ghz.
So with 55Ghz that should be 36363 seconds, or 606 minutes or 10 hours.So 2 blocks per day.. Should have found 12 Blocks already.. it's not even half of that.. :)
But no worries, having fun while trying :p
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@Taek Thank you! It's helpful.
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@Heliox I think it's due to the large variance without a pool.
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@Heliox You know, I'm wondering if the cards your running are all on one instance like what Go miner is supposed to do, but even at that if they're running on different rigs/instances, your poisson probability is probably affected, the math is over my head but like @jianhaoz said: we need a pool. it's getting hot.
