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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Sign up to join this communityHow 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
How can someone calculate the current/real-time value of a Bitcoin block?
Steps:
bitcoin-cli getblockcount
to get current block_heightWhat 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.