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Title: how to calculate most profitable coin? Post by: Jazkal on May 12, 2013, 08:10:30 PM how to calculate most profitable coin?
I know there are sites like CoinChoose and Dustcoin to reference. But I'm looking to write my own script to do it myself. These sites take too long between their queries, and I'd like to know how to do it myself in case these sites go away. I have tried searching, but I haven't found anything helpful. Anyone know the process or know of any posts that explain the process? Title: Re: how to calculate most profitable coin? Post by: Hydroponica on May 12, 2013, 08:11:33 PM The ammount you can mine each day, multiplied by the value of each unit, in BTC
Title: Re: how to calculate most profitable coin? Post by: laris2 on May 12, 2013, 08:26:36 PM Hi,
You will have to also get the coin value from exchanges btc-e/vicurex to check how much they are costing at particullar time. Title: Re: how to calculate most profitable coin? Post by: tom_o on May 12, 2013, 08:32:23 PM how to calculate most profitable coin? I know there are sites like CoinChoose and Dustcoin to reference. But I'm looking to write my own script to do it myself. These sites take too long between their queries, and I'd like to know how to do it myself in case these sites go away. I have tried searching, but I haven't found anything helpful. Anyone know the process or know of any posts that explain the process? Drop the admins of those sites a PM maybe? Ask for the basic algorithm. Title: Re: how to calculate most profitable coin? Post by: gnomicide on May 12, 2013, 09:29:31 PM Profitability = [(coin block size) / (1000 * coin difficulty)] / [(BTC block size) / (BTC difficulty)] * (BTC / coin)
The 1000 factor is for scrypt, omit for SHA-256. ex LTC: [50 / (1000 * 596.89)] / [25 / 11187257.46] * 0.02833 = 1.062 (106.2%) Title: Re: how to calculate most profitable coin? Post by: Jazkal on May 12, 2013, 09:33:43 PM Profitability = [(coin block size) / (1000 * coin difficulty)] / [(BTC block size) / (BTC difficulty)] * (BTC / coin) Thank you very much, that is what I was looking for.The 1000 factor is for scrypt, omit for SHA-256. ex LTC: [50 / (1000 * 596.89)] / [25 / 11187257.46] * 0.02833 = 1.062 (106.2%) Title: Re: how to calculate most profitable coin? Post by: gnomicide on May 12, 2013, 09:37:20 PM Profitability = [(coin block size) / (1000 * coin difficulty)] / [(BTC block size) / (BTC difficulty)] * (BTC / coin) Thank you very much, that is what I was looking for.The 1000 factor is for scrypt, omit for SHA-256. ex LTC: [50 / (1000 * 596.89)] / [25 / 11187257.46] * 0.02833 = 1.062 (106.2%) No problem! Title: Re: how to calculate most profitable coin? Post by: markm on May 12, 2013, 10:22:16 PM The most profitable seems to be the ones that people don't know any exchange for yet thus do not have a price for yet to plus into those equations.
Once people do find out, then it is already too late, because everyone jumps on it and drives its difficulty sky high. Look at BBQcoin for example, for about a year or maybe more you could mine is nicely with just a CPU, no need to even divert GPU power to it. But when the masses finally caught on its difficulty shot up too high for the CPU miners but so did its price because all those GPU miners wanted to at least get back the cost of the electricity they spent on highy mining, and te people who had been mining it while it was very very low difficulty cashed in handsomely. -MarkM- |