How can someone calculate the current/real-time value of a Bitcoin block?
What is the equation/algorithm used to determine this?
I've found a few resource online, but I'm a little confused
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By value, are you asking about the size of the reward, or the rules about whether it's valid? Or are you talking about the value of Bitcoin? – Nick ODell Apr 9 '15 at 18:03
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Reward for valid block – Mark Apr 9 '15 at 18:33
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How can someone calculate the current/real-time value of a Bitcoin block?
Steps:
- run
bitcoin-cli getblockcountto get current block_height - current_block_reward = 50 / [(block_height MOD 210000) + 1]
What is the equation/algorithm used to determine this?
Value the of a Bitcoin block defined here. The default value is 50 * 100,000,000 Satoshis.
After every "SubsidyHalvingInterval" blocks, the reward of each block halved. The SubsidyHalvingInterval is defined here
CAmount GetBlockValue(int nHeight, const CAmount& nFees)
{
CAmount nSubsidy = 50 * COIN;
int halvings = nHeight / Params().SubsidyHalvingInterval();
// Force block reward to zero when right shift is undefined.
if (halvings >= 64)
return nFees;
// Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
nSubsidy >>= halvings;
return nSubsidy + nFees;
}
You can also use the BlockExplorer API totalbc query: http://blockexplorer.com/q/totalbc/####, where #### can be a past or future block number, and the return value is the total BTC in circulation. bcperblock may also be helpful.
See BlockExplorer.com/q/ for a full list of queries.
answered Apr 14 '15 at 8:11
