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I've tried using this equation, but while it works for Bitcoin, it doesn't work for Monero.

Questions: what's the Monero mining reward equation? And a soft question, why is it so difficult to find this information?

Dominykas Mostauskis
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3 Answers3

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Of course it doesn't work for Monero, because Monero is not a fork of Bitcoin.

For mining profit, the simplest would be the following:

Daily mining estimate =
( (your hashrate) * (current block reward) * 720 ) / (network hashrate)

Note that you can't use Bitcoin hashrate for this, as it is a different alghorithm (CryptoNight). For example, a RX 470 will yield about 600H/s for Monero.

For the current block reward, we must look at the emission schedule, or simply look it up at some block explorer.

The emission is a function of current supply, and was defined in the CryptoNote whitepaper, section 6.1.

The upper bound for the overall amount of CryptoNote digital coins is: MSupply = 264 − 1 atomic units. This is a natural restriction based only on implementation limits, not on intuition such as "N coins ought to be enough for anybody".

To ensure the smoothness of the emission process we use the following formula for block rewards:

BaseReward = (MSupply − A) >> 18,

where A is amount of previously generated coins.

The above is not really user-friendly since it uses bit-shifting for faster calculation.

User-friendly variant of the expression can be found here. Repeating for readability:

The Monero block reward = (M - A) * 2-20 * 10-12, where A = current circulation.

And a soft answer: all I had to do to find it was search for "emission" here on StackExchange.

Also, searching "mining" yields:

How to calculate mining profits in Excel?

Estimated mining profits are overestimated

Are [solo] mining yield calculations like dice or playing card calculations?

Where can I find a tutorial on how to mine with Monero?

Community
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JollyMort
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  • Can we use the bitcoin calculator logic? https://bitcoin.stackexchange.com/questions/18629/what-is-the-algorithm-to-create-a-bitcoin-mining-calculator Which is based on difficulty instead of network hashrate? – Vivek Sancheti Aug 22 '17 at 06:43
  • whats mean 720 ( (your hashrate) * (current block reward) * 720 ) / (network hashrate) – domatis Dec 03 '17 at 23:08
  • Just multiply by that number. It is actually number of blocks per day. Block time is 2min, so it means 30 blocks per hour and 720 blocks per day. – JollyMort Dec 03 '17 at 23:22
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enter image description here

Calculated for you:

XMRs produced each year:

2014: 5.5 mi XMR

2015: 5.1 mi XMR

2016: 3.1 mi XMR

2017: 1.8 mi XMR

2018: 1.1 mi XMR

2019: 685,000 XMR

2020: 415,000 XMR

2021: 251,000 XMR

2022: 164,000 XMR

2023 and following years: 158,000 XMR/year

Patoshi パトシ
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Digging into some online profitability calculators, this formula is found:

((hashrate*(1-((fees)/100)))/((difficulty*1e9)))*blockReward*3600;

hashrate is your hardware hashrate (and is not the same as BTC hashrate),

difficulty is the current network difficulty,

blockreward is the current network blockreward,

3600 is number of seconds in one hour.

lenooh
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