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Author Topic: How can i calculate expected rewards without using whattomine?  (Read 366 times)
droghtak
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July 18, 2017, 03:01:55 PM
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Hi,

For a given hashrate, difficulty and a time-frame, how can I estimate the expected block reward that I can achieve? is there a specific formula for each crypto currency?

Could someone illustrate me with a example? for example a known coin like zec?

I would like to estimate the expected rewards for some currencies that are not listed in whattomine.

Thanks!

edit: I'm sorry i posted this on wrong forum, it was meant to be in "Mining" could some moderator move it?
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bombard1
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July 18, 2017, 03:05:54 PM
 #2

Hi,

For a given hashrate, difficulty and a time-frame, how can I estimate the expected block reward that I can achieve? is there a specific formula for each crypto currency?

Could someone illustrate me with a example? for example a known coin like zec?

I would like to estimate the expected rewards for some currencies that are not listed in whattomine.

Thanks!

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droghtak
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July 18, 2017, 03:13:42 PM
 #3

Hi,

For a given hashrate, difficulty and a time-frame, how can I estimate the expected block reward that I can achieve? is there a specific formula for each crypto currency?

Could someone illustrate me with a example? for example a known coin like zec?

I would like to estimate the expected rewards for some currencies that are not listed in whattomine.

Thanks!

Search the Internet


thanks for your completely useless advice. If I had figured out how to do that, I would not ask the question.

Perhaps you could point me where to look? I have googled several times and I could find only how to calculate the expected block rewards for bitcoin, not other currencies.
stoniestfool
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July 18, 2017, 03:17:19 PM
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I will give an example of 1 day for simplicity.
First, determine the total coins mined per day. Using block reward and block time values. For instance, if a coin had 1-minute blocktime and 1 coin reward. 1 reward x60 minutes is 60 coins per hour. Then multiply 60 coins by 24 hours.1440 coins per day.


Now calculate what percentage of the network hashrate you have. Say the network hashrate is 10 gh. You have 1 gh. That is 10% of the network. Now you can determine 10% of the reward will be your earning. So 144 in my example.
Although hashrates change throughout the day. So that is a rough estimate.
try googling (your coin name) profit calculator.

droghtak
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July 18, 2017, 03:27:38 PM
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I will give an example of 1 day for simplicity.
First, determine the total coins mined per day. Using block reward and block time values. For instance, if a coin had 1-minute blocktime and 1 coin reward. 1 reward x60 minutes is 60 coins per hour. Then multiply 60 coins by 24 hours.1440 coins per day.


Now calculate what percentage of the network hashrate you have. Say the network hashrate is 10 gh. You have 1 gh. That is 10% of the network. Now you can determine 10% of the reward will be your earning. So 144 in my example.
Although hashrates change throughout the day. So that is a rough estimate.
try googling (your coin name) profit calculator.


Okey I understand; so to know these data for a coin, should I download the coin wallet and use the wallet's api? or is there a more convenient way to get the info?
droghtak
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July 18, 2017, 04:20:29 PM
 #6

I guess that If the coin has a pool, I could get the info of last mined blocks and calculate an expectation using the net hash rate, does it sounds good?

for coins that don't have pools I think the only way would be to install a wallet and query it
stoniestfool
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July 28, 2017, 09:28:05 PM
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I guess that If the coin has a pool, I could get the info of last mined blocks and calculate an expectation using the net hash rate, does it sounds good?

for coins that don't have pools I think the only way would be to install a wallet and query it
You can find block time and block reward on the coins announcement page. Those are here on bitcoin talk forum.  To find network has ask on the announcement page. A pools homepage sometimes has this info. Be care not to use the pools network hash. Almost every coin has multiple pools so the nethash is a combination.
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