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A Mining Software to Help With More Complex Mining Profitability Calculations (WIP)

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Written by   54
1 year ago

This is going to be a brief article, but what I just wanted to say that I am currently in the works of making a mining profitability software that will be useful for calculating mining profitability calculations. Now I know what you might be thinking: Why make another calculator when there already so many web apps out there that can do it for you? My answer is simple! A lot of these web apps are missing important features like the average network growth rate, hardware selling cycles, additional overhead expenses, and much more. This is also just a personal project that I have an interest in. If and when I do release it, it's going to be open-source, and free.

I'm not a professional programmer, but I have some experience (beginner) in programming and know how to make GUI apps in Python, along with doing basic math operations, so I don't see building this app as an issue. I don't have any particular date that I am planning to release this software, so it might be a while since it's just a personal project. Since I am making this app, I would like some suggestions on what I should add to the app's features. So far, here are some features I'm planning on incorporating:

- Average network growth rate for future profitability projections [underway]

- Oscillations in hashrate through RNG (and therefore market price)

- Fee percentages/subsidizing [done]

- Production costs per coin [done]

- Payoff period/time till profitable [underway]

- Selling strategy

- Solo-mining risk/profitability (how much hashrate should one have for it to make sense to solo-mine)

- Starting block for inflation and reward halving cycles

- Which strategy is the most profitable for selling (selling to cover expenses, selling a portion monthly, or selling all coins monthly)

- Exchange fees

- Overhead expenses [underway]

- Multiple coins (including inflation cycles) [underway]

- The ability to add plug-ins and add-ons

These are some of the features I'm adding so far, but they're not coming in immediately. What other features would you like to see added? I'd definitely like to see some suggestions in the comments below!

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Avatar for IMightBeAPenguin
Written by   54
1 year ago
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