This answer will attempt to answer the question at multiple levels, as follows: • Section I explains the basics of how to calculate this yourself. • Section II provides updated calculations based on Section I. • Section III provides an abstracted way to determine this based only on the total network hashrate and the total number of coins in circulation. Explaining how to determine this on your own: Some basics: • Monero has an average block time of 2 minutes, meaning that there are approximately 720 blocks per day. • Your expected reward is proportional to your share of the network hashrate. The current hashrate is ~23.3 MH/s (), or 23300000 H/s.

• Monero's block reward is decreasing slightly every block. Right now it is a little less than 11 XMR, but I'm going to just use 11.0 in my calculations. • To find out the exact reward at any given time, you could go to a block explorer () and click on the most recent block. Monero XMR Merged Mining here. It will tell you the reward for that block. • Disclaimer: The reward changes based on how many transactions are included in a block.

Hey friends.i have little experience in mining not much and i want to mine Monero because i think it's the best profitable coin right now.The exchange rates to. [XMR] Monero - A secure, private. I highly suggest you just install ubuntu 13.10 alongside whatever your linux os is and mine with that, and if you want to use the. Just like pools, there are a lot of miners to choose from. The one that you should pick depends on the hardware you want to mine on. This guide will only use a CPU miner, and will be using xmr-stak-cpu. Alternatives include wolf's CPUMiner and sgminer-gm. However, their configuration is slightly different and will not be. More I Want To Mine Monero XMR videos.

For instance, block 1124279 was empty and had a reward of 00000, while block 1124278 had 4 transactions and a higher reward of 00000. Nonetheless, you can get a rough idea using this method. Okay, putting it all together, where your share of the hashrate is 'n': daily reward ≈ (720 * Avg Block Reward * n)/(Network Hashrate) Since the question was for a reward of 1 XMR per day, using the numbers above: 1 XMR ≈ (720 * 11.0 * n)/(23300000) and solving for n: n ≈ 23300000 / (720 * 11.0) n ≈ 2942 H/s which is pretty close to @villabacho's answer.

I just want to get a general idea. Generally speaking, the formula to determine the hashrate needed to mine 1 XMR per day is: n = (Network Hashrate) / (720 * Avg Block Reward) What CPU / GPU would be required to solo mine 1 coin a day? The most energy efficient GPU that I know of for mining XMR is the GTX 750 Ti, which gets approximately 250 H/s for a little more than $100/GPU. 12 of these GPUs would give you 3000 H/s, or a little more than 1 XMR per day at the current mining and reward levels. 20 June 2017 Update to Section 1: • Hashrate: ~87.4 MH/s • Reward: ~7.22 XMR/block (including fees) Using our formula n = (Network Hashrate) / (720 * Avg Block Reward): n = 87400000 / (720 * 7.2) n = 16812 H/s, or 16.81 kH/s to mine 1 XMR per day. You would need approximately 67 GTX 750 Ti's at 250 H/s each, OR approximately 28 RX 470's at 600 H/s each, OR approximately 22 RX 480's at 750 H/s each. 20 June 2017 addition abstracting calculation further: A more general formula can be developed that calculates the Average Block Reward used above from the total coins in circulation.

The base block reward is calculated by Reward = (M - A) * 2^(-19) * 10^(-12) where M = 2^64 and A is the current amount of XMR in circulation (in terms of atomic units, where 1 XMR = 10^12 atomic units). We can reduce this for ease of use to be as follows: Reward = (18409551616 - a) * 2^(-19) where a = A * 10^(-12) and represents XMR 'coins' in circulation as we traditionally think of them. From this formula, it should be clear that the base reward for each block is progressively decreasing.

However, we can consider it roughly constant in the short term for our purposes here, as over a 720 block period (one day) the reward drops ~0.01 XMR at today's rate. Therefore, we can substitute this Reward value as an approximation of the Avg Block Reward over a relatively short period with an error of much less than 1%.

Is a cryptocurrency similar to Bitcoin and in this blogpost we’re going to have a look at how to mine some Monero through a command line based miner on Linux. In contrast to Bitcoin and Ethereum a strong mining GPU is not impacting the payoffs as much since the cryptonight algorithm is CPU friendlier. Technically you can run the miner anywhere it compiles, but Linux is probably the most likely candidate for your private mining operation since Linux servers are widely available in the shape of for you to quickly try it out. Disclaimer: unless you have a lot of CPUs at your disposal it might take a while until you reach a payout. How to Mine Monero: This article will go over: • Creating a Monero Wallet • Picking a mining pool • Downloading and copiling the miner • Start mining Monero • Monitoring your hashrate Creating a Monero Wallet You can either create a Monero Wallet by downloading the official client or using an online wallet such as. Note that the official client brings an about 20-30 GB download to store the entire Monero blockchain on your computer as well.

Picking a Monero Mining Pool To get started, I suggest you pick a mining pool from any of the mining pool lists, I went with, but many of them run the same software on the backend and to monitor your mining efforts. A mining pool combines the efforts of many miners and increases your chance of payouts, because you find new blocks quicker together. With the PPLNS pools you’ll be paid based on how much work you contributed to the new block. If you don’t have your own mining farm, but just run the miner on a couple of computers or even one, I’d recommend going with that option. Note: Mining Monero on Windows If you want a graphical user interface, you can make use of the GUI and get up and running right after creating your wallet. Downloading the Miner for Linux This tutorial is for the, you can also pick other miners depending on your CPU or GPU you want to use.

First, let’s install the require packages for Ubuntu, Linux Mint or other Debian-like systems: sudo apt-get install git libcurl4-openssl-dev build-essential libjansson-dev autotools-dev automake On Arch Linux you should have most pacakges available, else install them with pacman or pacaur. Now let’s download the miner with git and change into the directory: git clone cd cpuminer-multi It comes with a useful script called autogen.sh:./autogen.sh CFLAGS='-march=native'./configure sudo make install If the previous commands throw an error, try the following:./autogen.sh./configure sudo make install Now the binary minerd should be available system wide. You can test that out by typing: which minerd Example output: /usr/bin/minerd Start Mining Monero In order to start mining monero you can just run the below command: sudo./minerd -a cryptonight -o stratum+tcp://MININGPOOL:PORT -u WALLET_ADDRESS -p MINER_NAME MININGPOOL and PORT depend on your miningpool. Your WALLET_ADDRESS you either get from your wallet GUI or from your account. MINER_NAME is up to you to define, I usually keep it to the host name of the machine. By running the above command you will see output like: [2017-12-24 13:13:25] Using JSON-RPC 2.0 [2017-12-24 13:13:25] Starting Stratum on stratum+tcp://frankfurt-1.xmrpool.net:5555 [2017-12-24 13:13:25] 8 miner threads started, using 'cryptonight' algorithm.

[2017-12-24 13:13:29] Pool set diff to 5000 [2017-12-24 13:13:29] Stratum detected new block [2017-12-24 13:13:38] accepted: 1/1 (100.00%), 177.90 H/s at diff 5000 (yay!!!) Whenever it states accepted that means that your calculations where accepted into the overall mining effort and should be visible in the dashboard of your mining pool. Now you actually can wait for your machines to have accumulated enough shares to be considered as a large enough share of the payout in Monero to the wallet you specified. Backgrounding the miner can be done by using screen or appending & to the command. To kill the miner again you can use something like killall minerd. Monitoring your Hashrate Your mining pool will usually display an interface that shows how many hashes at once you’re going through per second.

For each individual miner you can always check the output of the terminal. If you’re curious how quickly you possibly will be rewarded by your mining pool, you can check out this helpful. You can even pick different options for solo mining, pool mining and if you rent or own the hardware. Calculating Profits mining Monero There are different profitability calculators online and they should all be taken with a grain of salt, since both difficulty of the network, amount of miners and some other factors will play a role in the development of the currency. • • Further Reading recently sparked the interest of a lot of people, not least because a browser based miner exists, written in web assembly, which allows visitors of your website to donate Monero (mining effort) to you.

I’ve covered the topic briefly:. Update: I’ve also tested the!