Oh yes. I do calculate a "mining price". Two ways:
1) "empirical" mining price = I need to participate in the mining
measure 3 to 6 or 12 ( or 7 or 23, it doesn't matter) hours of mining, and then extrapolate it. Easy.
Above 10 euros per day per megahash-per-second is worth considering to switch a mining rig to it.
So you can now calculate a mining-minimum-price out of those 10 euros.
And of course, note down the difficulty during your mining experiment, then later you can scale your results with that.
2) "theoretical" mining price = I need a block explorer, or someone needs to tell me the current diff.
coinsPerDayPerMHs = (average)blockreward / (scrypt-factor * difficulty * 2^32 / 10^6 / 60*60*24)
p_threshold = 10 euro / EuroPerBTC / coinsPerDayPerMHs
scrypt-factor is e.g. 1.25 for UTC
if you tune your GPUs perfectly, or
scrypt-factor is e.g. 2.0 for
VTC approx, with its "Adaptive N-factor Scrypt"
scrypt-factor is 1.0 of course for a pure scrypt coin, like the beautiful
DGB Digibyte.
blockreward average = 500000 for example for dogecoin which has a random reward between 0 and 1 mio
Example:
Let's say we look at my
good UTC moment in that posting:
coinsPerDayPerMHs = 50 / (1.25 * 5.55 * 2^32 / 10^6 / 60*60*24) = 144.984 ~ 3 blocks per day
p_threshold = 10 euro / 617 euro / 144.984 = 0.00011178 BTC = 11178 Satoshi
As the best BUY price advertised in that moment for 1 UTC was 0.0093 LTC = 0.00024645 BTC = 24645 Satoshi,
I suggested that coin to my friends there, because 24645/11178 *10 euro = 22 euro is pretty good for scrypt-1MH/s hardware.
That moment, however, was over much quicker than expected - within a few blocks, the difficulty retargeting had adjusted the difficulty back to 9.533, which means 9.533/5.55 = 1.7 times less profit, or only 13 euros per day per MH/s. Boring if there are better coins, or quite charming if there is nothing else around which can give us more.
How do you like that? I guess that's a full answer, isn't it?
IMPORTANT:If you understood these facts through me now, please consider paying me, in these currencies:
(
DGB DOGE EAC LTC NOBL PRT QRK SOC VTC 42 BTC) or
let your rig run a bit for me. Thanks!
Or - even better - give me a little bit of coindust now, but also put a bookmark on this posting #9,
and come back later, when you have made some real money using that formula. Thank you very much.
