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Kilo69

Formula for estimating rewards?

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Posted (edited)

Wasn't sure where to put this so I stuck it here.

I'm trying to figure out formulas for rewards based on hashrate.

I came across this one for monero:
Daily mining estimate = ( (your hashrate) * (current block reward) * 720 ) / (network hashrate)

Although this seems like "solo mining" reward

What calculations do the pool estimators use?  Is there a place I can find those?

Thanks!

Edited by Wor3d
Question moved to "Technical Assistance"
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Here's another formula based on difficulty

daily_reward = your_hashrate *block_reward / difficulty * 86400

This formula also works for ETHEREUM or BITCOIN cryptos  (not only CRYPTONIGHT)
Network hashrate is usually calculated based on difficulty, so not very accurate
Difficulty is always available through  the pool API (so it's easier to automate the process)
Therefore I prefer this formula
(86400 is the number of seconds in a day)

 

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The same formula applies to pools as well. You just have to subtract pool fee, and count on that this is average income.

Meaning, if you mine solo, the chances to find a block are small(er), you can be potentially more influenced by luck, and you will have to average over longer time, not just day (assuming you don't have super huge rig).

Multiply by number of days to get weekly, monthly, etc.

Pool daily reward is like this:

latex_ca03ba8057245329319127aea5ab3f4c.png


_______________

Crypto is da way

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Awesome thanks this helps out greatly on my automated profit calculator!

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