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 ODellApr 9, 2015 at 18:03
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Reward for valid block– MarkApr 9, 2015 at 18:33
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2 Answers
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, 2015 at 8:11
