Quick way to calc mining rewards


  • administrators

    The mining link is long and complex. Of course, LWOS does it for the participants of mining.

    Here the steps:

    • mining ( pool fees, often 1%)
    • wait for the maturation of the blocks for getting your valided coins from the pool . Depending of the coin, can take a huge time.
    • wait for reaching the withdrawal threshold (fees, depending of the coin)
    • wait for the deposit onto an exchange
    • sell them onto a market for bitcoins (fees, often 0.2%)

    But how to calc the profitability of a coin, for a miner?

    First, you have to know:

    • your hashrate
    • the network hashrate.
    • the block reward per block ,
    • the block time
    • the price of the coin

    With these informations, you can easly calc the profitability, without taking count the fees (pool,exchange,etc)

    Let's take an example for YTN:

    • my hashrate: 1 kH/sec
    • network hashrate: 2MH/sec
    • 50 YTN per block
    • 120 sec for a block
    • 381 satoshis per YTN

    Calc the bitcoin rewards per hour for YTN:

    Block per hour: 3600/block time = 30 blocks
    Satoshis per hour: 30 blocks x 50 YTN x 340 satoshis/YTN = 571500 satoshis/hour

    Calc your luck:

    Your must express your hashrate in the same unity as the networt hashrate.

    Network hashrate is 2MH/sec so 2000k/sec

    If you are already mining, it means your hashrate is already in the network hashrate, else, you need to add it.

    • You are already mining: your luck is: your hashrate/network hashrate = 1 /2000 = 0.05%

    • You aren't not mining yet: your luck will be: your hashrate/(network hashrate+your hashrate) = 0.04998%

    (In this example, it changes nothing between if i'm still mining or not. )

    Calc your profitability:

    Now, is simple to calc your possible earning per hour, according to your luck:

    = the bitcoin rewards per hour for YTN x your luck = 571500 satoshis/hour x 0.05% = 285 satoshis/hour

    ( * you can apply fees after, if you want in order to have a better precision.)

    But the mining has a lot of variance (market price, network hashrate), this figure should only serve as an indicator, to be able to compare with other coins.


Log in to reply
 

Looks like your connection to LWOS Forum was lost, please wait while we try to reconnect.