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I am trying to evaluate how much one could earn as pool owner/solo miner if bitcoin really appreciates in price. To get a number i try to get a figure how much one mined block generates in for example a month, week, year.
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Let's look at an example. BTC Guild (www.btcguild.com) has about 33k GH/s.
https://www.btcguild.com/index.php?page=pool_stats
That's about one third of the whole Bitcoin network combined
So let's imagine on average they mine one third of all the blocks. That's 6*24 / 3 = 48 blocks in a day, 336 blocks in a week, and 1440 blocks in a month.
Now assume each block has a transaction fee of 0.5 BTC on average. Now counting only transaction fee's: That's 24 BTC in a day, 168 BTC in a week and 720 BTC in a month.
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1) Fees are very block-dependent but recently have normally been in the 0.25 - 0.5BTC range
2) A mined block currently gives 25BTC + fees. From the above, fees are coming in around 1-2% of the total block reward
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http://blockchain.info/block-index/383911 On blockchain.info you can see the transaction fees payd to the miner. On the sample link Transaction Fees of $ 41.75 have been payd in 480 Transactions.
Thanks for your contribution to my question! On which timeframes are these estimations build? Iam trying to understand how much a pool-owner/solo-miner can earn by fees in a week, month, year. – Aurigae – 2013-05-19T17:32:51.943
Well that's a different question to the one that you asked. My answers are per-block, but you also want to know blocks per week/month/year. The answer to that is totally dependent on the number of hashes you can get through per second. You also need to know your electricity usage and cost of electricity so that you can subtract that from your income. And then pick an exchange rate. Bottom line: it isn't quite so simple, and there are a number of similar questions and answers which you should read to get an overview of this area. – jgm – 2013-05-19T19:50:51.410
I still try to figure how much one makes on transaction fees. To get more precise lets say transaction fees at current bitcoin price with 1 mined block in a given timeframe ie 1 week, month, year. In point 1.) you already made a figure, but on what is that based. – Aurigae – 2013-05-19T21:24:21.547
If you're talking about how much you get in your local currency then translate the BTC to whatever currency you're thinking about. As for where the figures come from, the 25BTC figure is baked in to the Bitcoin system (it halves every four years or so) and the transaction fees come directly from the details of mined blocks within the blockchain (looking at blocks over the past 5 months as representative). The whole 'per week/month/year' thing is totally dependent on your hashing power i.e. how many blocks you can mine in a given timeframe. – jgm – 2013-05-20T06:56:10.040
I dont refer to mining reward, i mean transaction fees!!! HASHINGPOWER IS IRRELEVANT! – Aurigae – 2013-05-20T12:42:34.037
In which case I'm afraid I do not understand what you are asking. Transaction fees are per block, and normally in the range that I have already specified. If you want something in terms of per week/month/year then hashing power comes in to it as it is directly related to how many blocks you can mine in a given timeframe. – jgm – 2013-05-20T12:45:00.640
Imagine you run a pool/solomine. How much do you earn by transaction fees? - NOT mining reward! MY initial question was edited by somebody else what might caused confusion. I mine for some time, and since my pool keeps transaction fees i would like to know how much they make. To be more clear, as im aware the transaction fees go to the address that mined the block initially. – Aurigae – 2013-05-20T12:49:17.173
1If I solo mine I earn 0.25 - 0.5 BTC per block mined, as per my original answer. If I run a pool it's up to me as to how much I keep, and up to others as to if they sign up to it. Pools vary in the way that they work but most keep mining fees plus 3% of the block reward, give or take. – jgm – 2013-05-20T12:57:46.520