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I have over 10,000 shares accepted. How does that translate to bitcoin? How much bitcoin is 10,000 shares? It says it will transfer to my wallet when I get .01 bitcoin. But so far, nothing in my wallet.
I have over 10,000 shares accepted. How can I find out how much bitcoin that is?
Answers
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The value of a difficulty one share is roughly the block reward divided by the difficulty. Right now, the block reward is 25 and the difficulty is 11,756,551,916. So 10,000 shares (assuming they're difficulty one Bitcoin shares) is worth about 0.000021 BTC.
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Shares are no currency. Only if the pool you are mining for is actually finding a block you will be partial rewarded in dependence of how many share the other miners have send.
Some example:
Every block rewards 25 BTC
You got 20_000 shares
All other miners together done 1_000_000 shares (they will have more for sure)
Then you have this formula:
Your-Shares / All-Shares * Block-Reward
20_000 / 1_020_000 * 25 = 0,49 BTC
This would be your reward but the pool vendor will take off some fees from that as well.
2What pool is it? What payout scheme do they use? Impossible to answer without that, at least. – Tim S. – 2014-06-09T11:45:57.777