poolprofit.io

# Make Bitcoin MiningTransparent Again

There are many mining pools with many different payout schemes and while you might not see it at first sight, the fees vary vastly.

Considering how competitive has Bitcoin mining become, this can be the difference between making a profit and barely surviving. This page aims to clear the things out.

## Net Block Reward

Using the real blockchain data, we calculate a new indicator called Net Block Reward. It is a net value from an average block distributed amongst the miners. Naturally – the higher, the better.

### REWARDS COMPARISON TABLE

Select one of the pools by clicking on its row and check the last column to see how better or worse the other pools payouts are. Please note that these values reflect a long term consistent mining, not some specific mining strategies.

# …

## How Do We Calculate Net Block Reward?

### METHOD A

for reward scheme where TxFees are NOT shared with miners
$$\text{Block Reward} \cdot (1 - \text{Pool Fee}) = \text{Net Block Reward}$$

### METHOD B

for reward scheme where TxFees are FULLY shared with miners
$$\text{Average Block Value} \cdot (1 - \text{Pool Fee}) = \text{Net Block Reward}$$

### METHOD C

for reward scheme where TxFees are PARTLY shared with miners
$$\text{Block Reward} \cdot (1 - \text{Pool Fee}) + \text{TxFees} \cdot (1 - \text{PoolFeeTx}) = \text{Net Block Reward}$$

### DEFINITIONS

Block Reward
- standard network reward for discovering BTC block given to miner. Currently this bounty is 12.5 bitcoins.
TxFees
- the sum of transaction fees for transactions mined in the block.
Avg TxFees
- average value of TxFees generated by the pool in the last 30 days.
Average Block Value
- total value of average Bitcoin block generated by the pool in the last 30 days (Block Reward + Avg TxFees).
Pool Fee
- standard fee applied by the pool based on reward scheme.
PoolFeeTx
- additional pool fee applied on TXFees.
Net Block Reward
- net value distributed amongst the miners after pool fees are applied.

### DATA COLLECTION & PROCESSING

The table above shows biggest public mining pools based on number of blocks generated in last 30 days.
Btc.com is currently not listed because of nontransparent nature of their fee calculation formula. We will be happy to put them back once they provide us with exact mathematical formula for fee calculation.
BTC.TOP - based on empirical data gathered via our own mining unit we came to conclusion that BTC.TOP actually uses PPS 98.5% reward scheme. Since their publicly disclosed information about reward scheme is misleading we have removed this pool from the comparison table. We will put them back once they provide some transparency.
BitFury& BitClub, are not included because they are private pools.

Data Source: Block Rewards and TxFees are extracted directly from Bitcoind. Blocks are sorted based on Pool Tracking Tags listed here.

Reward Schemes: are current as of January 10, 2019; updated manually & regularly. However, please keep in mind that schemes are subject to sudden and unexpected changes made by pool operators. We will do our best to keep them up-to-date.

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