Is there a universal formula to calculate profit for alt coins?
A lot people would like to know how to calculate the profit for Sha 256 coins such as: CompassCoin, CureCoin, PetroDollar, ect...
For example:
Mining at: 1 TH/s
If CompassCoin difficulty is: 402,631
and it's trading at: 0.000012 btc
How many BTC will you earn per day?
Math genius is welcome to debate below.
This stuff doesn't require a maths genius.
It is basic algebra. Anybody that received a passing grade in 9th grade maths in the U.S. should be capable of this.
I don't know much about CompassCoin, but
if they use the same difficulty calculations as Bitcoin, then:
time = difficulty * 2
32 / hashrate
time = 402,631 * 2
32 / 1,000,000,000,000
time = 1729 seconds per block
time = 28 minutes 49 seconds per block.
If there are 86,400 seconds per day, then 1 TH/s should solve
86,000 sec per day / 1729 sec per block = 49.739734 blocks per day.
If the block reward is 420 CompassCoins per block, then that's:
49.739734 * 420 = 20890.68828 CompassCoins per day
If you can get 0.000012 BTC per CompassCoin, then:
20890.68828 * 0.000012 = 0.25068825 BTC per day (minus any costs or fees).
