Topic: Coinwarz and Whatmine are screwed up (Read 802 times)

I have to laugh at the predictions these two sites make because they're inevitable WRONG just about all the time

Both sites has serious flaws and you should be careful to NOT follow them and do your homework before coin jumping.

The perfect example is Whatmine.com

I plugged in 275 MH for scrypt and Whatmine.com told me that I could make $53.05 per day mining Rubycoin

well - here the basic problem - THAT'S IMPOSSIBLE!!!

and here is why - even if I found every block that Rubycoin generated in a day that's 576 blocks.

Now mind you that Rubycoin has a block reward of 25 coins so that's 576 block * 25 coins = 14,400 coins

Assume BTC = $380 USD

Rubycoin is selling for 722 sat so that's : .103968 btc which is: $39.50

so how can you make $53.05 in a day from a coin that only creates $39.50 a day - YOU FRIGGIN CAN'T! DUH!

The more realistic way to calculate is simple and of course this can change in an instant because network hash changes all the time.

the correct way to calculate your earnings potential in a 24 hours period for a coin is:

(your hash / (Your hash + current network hash)) * (coins minted per day * current value)

therefore assume the following:

My hash is 275 Mh/s
Network Hash is 400 Mh/s

(275 / 275 +400) * (14400 * .00000722) = .0423573 BTC/day = $16.09 / day

If network has did not change and value did not change I would make $16.09 per day mining this coin and I know this is correct.

Please note: this formula as it is stated only works for coins with no POS - there is a more precise calculation I have developed to accurately predict blocks per day for coins with POS and taking difficulty levels into account.

I do this exercise above at least 20 times a day when evaluating coins and I know it works because I run a pool and have to pick and choose which coins the pool will offer and I am always right.

The bottom line is that these sites SUCK when it comes to predicting earning estimates which is exactly why I am developing a site and technology to accurately predict your earning potential for coins and it will be available on a subscription basis - yea Coinwarz and Whatmine are free and yea - you are certainly getting what you pay for from them : wrong information!

My site will also contain programmable triggers to advise when when certain coins have reached certain network hash levels, coin values and difficulty levels.

good luck people and do your homework!! - don't believe that these sites feed you because it's wrong in many many instances!

I'll be offering Beta site subscriptions to early subscribers.

thanks!

Jeff