How to Increase your mining rate [White Paper Explained]

Hi Everyone,

I know most of you are aware of how mining works but I am just putting it there for the people who do not know or are new to the space, also to act as a one stop solution to people searching how to increase your mining rate.

Your Mining Rate is calculated using the formula:
M = B • (1 + S + L) • (1 + N + E + A + X)

  1. Where M is your Mining Rate
  2. B is the system-wide base Mining Rate
  3. S is your Security Circle Reward
  4. L is your Lock Up Reward
  5. N is your Node Reward
  6. E is your Referral Team Reward
  7. A is your Utility Reward
  8. X is a metric which will be used in the future

Our Goal with this post is to Maximise M. Increase in any of the above mentioned values would result in an increase in M.

Let's look at how we can increase the value of these individual metrics:

  • B - It is determined by the system and there is nothing you can do to change it
  • S - is given by 0.2 • min(Sc,5) where Sc is the number of people in your security circle.
    • How to Maximise this value?
      • Add at least 5 People to your Security Circle
      • Adding more than 5 will not make a difference
      • Highest Value of S is 1.0
  • L - is given by Lt • Lp • log(N)
    • Lt is Lockup time and is determined by
      • Lt = 0 (No Lockup)
      • Lt = 0.1 (2 Weeks)
      • Lt = 0.5 (6 Months)
      • Lt = 1.0 (1 Year)
      • Lt = 2.0 (3 Years)
    • Lp is Lockup Percentage and is determined by
      • Lp = 0 (0%)
      • Lp = 0.5 (50%)
      • Lp = 0.9 (90%)
      • Lp = 1.0 (100%)
      • Lp = 1.5 (150%)
      • Lp = 2.0 (200%)
    • N is number of mining sessions you have completed
      • N = 1 => log(N) = 0
      • N = 10 => log(N) = 1.0
      • N = 100 => log(N) = 2.0
      • N = 300 => log(N) = 2.47
      • N = 1000 => log(N) = 3.0
    • How to Maximise this value?
      • Assumption: You've completed 100 Mining Sessions (N = 100)
      • Scenario 1: You Believe in the Project and have no Immediate use for the crypto
      • Scenario 2: You believe in long term, might need some to spend
      • Scenario 3: You need half the amount to trade and can lock the rest up for some time
      • To Maximise Value, follow scenario 1
      • Highest value of L is 6.68
  • N - is given by N(I) = node_factor • tuning_factor
    • Node_factor = Percent_uptime_last_1_days • (Uptime_factor + Port_open_factor + CPU_factor), where
      • Uptime_factor = (Percent_uptime_last_90_days + 1.5*Percent_uptime_last_360_days(360-90) + 2* Percent_uptime_last_2_years + 3*Percent_uptime_last_10_years)
      • Port_open_factor = 1 + percent_ports_open_last_90_days + 1.5*percent_ports_open_last_360_days + 2* percent_ports_open_last_2_years + 3*percent_ports_open_last_10_years
      • CPU_factor = (1 + avg_CPU_count_last_90_days + 1.5*avg_CPU_count_last_360_days + 2* avg_CPU_count_last_2_years + 3*avg_CPU_count_last_10_years)/4
    • tuning_factor is a statistical factor that normalizes the node_factor to a number between 0 and 10
    • How to Maximise this value?
      • Uptime Factor -> Setup a Node as soon as possible and keep it running 24x7
      • Port Open Factor -> Make Sure all Your Ports are Open (Youtube)
      • CPU Factor -> Make sure your PC has a lot of logical processors(threads)
  • E - is given by 0.25 • Actively Mining Pioneer you referred
    • There is no limit to this value, if you invited 1000 Pioneers who are regular, that is a 250x multiplier
    • How to maximise this value?
      • Make sure you invite a lot of people to join
      • Make sure the people you invited mine regularly
  • A - is given by A(I)* = log[ Σ_across_apps( log(time_spent_per_app_yesterday_in_seconds) ) ] - log[ log( 0.8 * avg_daily_time_spent_across_apps_last_30_days + 0.6 * avg_daily_time_spent_across_apps_last_90_days + 0.4 * avg_daily_time_spent_across_apps_last_180_days + 0.2 * avg_daily_time_spent_across_apps_last_1_year + 0.1 * avg_daily_time_spent_across_apps_last_2_year ) + 1 ]
    • How to Maximise this value?
      • Chat with people or in groups
      • Send/Recieve Test Pi
      • Play Games using Pi Browser
      • Use Pi Browser instead of Chrome
  • Bonus: Hackathons are conducted every month with winner being awarded 10,000 Pi.

So as an average user what should your Bonus be?

  1. 5 People in Security Circle (S = 1.0)
  2. 90% Locked up for 3 Years, have been mining for 200 days (L = 4.14)
  3. Have been Running a node with an average PC for the last 6 months (N = 2.0)
  4. Invited 10 People out of which 4 still mine regularly (E = 1.0)
  5. Uses Pi browser for 15-30 minutes a day (A = 0.5)

Mining Rate = B • (1 + S + L) • (1 + N + E + A) = B • (1 + 1 + 4.14) • (1 + 2 + 1 + 0.5) = B • 6.14 • 4.5 = B • 27.63

Currently B = 0.0029, so if you put in some effort your current mining rate would be 0.08pi/hr (3$/day)

Provided you are willing to put in the effort: N could be as high as 10.0 and E could reach 10.0 making your bonus B • 132.01 or 0.38pi/hr (14$/day).

If you found this post helpful, please feel free to upvote.
Thank You.

If you don't want to read the whole thing

  1. Get a node running
  2. Invite more people
  3. Use Pi Browser a lot
  4. Lockup more Pi