How to estimate your harvesting income - (and deduce the total NEM network fees)

General Discussion
#1

So this is my network fee & harvesting income estimation for the NEM network for March 2017.
Feedback and corrections are very welcome.

I had analyzed two supernodes (“SN”) and their fee income “over the last 25 blocks” which for one was 10 days, for the other one 15 days.

SN1: Importance %: 3.4441* 10(-4), harvested within 10 days: 395.83 XEM
SN2: Importance %: 3.3992* 10(-4), harvested within 15 days: 224 XEM

-> SN1: 39.5 XEM/day
-> SN2: 15.0 XEM/day

–> Average 27.25 XEM/day over both SNs reflecting the days

Average importance over both SNs: 3.42165* 10(-4)
= 0.0342165 %

100/0.0342165 = 2922.56 “nodes of same importance as these” would sum up to “all the fees”.

2922.56 nodes * 27.25 XEM/day = 79,640 XEM / day total NEM network fees paid
–ESTIMATED–

If your importance was e.g. 0.7492* 10(-4)
(= 0.007492%)
You could expext a daily Harvesting outcome of
0.007492% * 79,640 XEM = 5,97 XEM/day
–over a few days, because you need to get “lucky”–

I hope this helps you to estimate your harvesting income!

In order to check when you will be eligible to harvesting (vested balance >10,000 XEM) you can visit http://samesake.com/xem/harvesting-calculator.html … This is a tool created by a fellow NEM member to estimate the remaining days waiting time for your vesting.

BTW: Is there a way to request the “overall collected fees over time” from the NEM Blockchain via API call? Or another trick how to get that info?

Disclaimer: I may be wrong with my calculations! Whoever is more knowledgeable - please correct me if I’m wrong!

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#2

Hi r3n3, could you advise how much of vested XEM you have on each of the accounts?

I can not get my head around as to how much XEM I need to buy to start harvesting something…

Another question is your importance rate. As currently It is not possible to pay for good with NEM, how did you increase it.

Thank you in advance
Rustam

#3

Hi Rustam,

  • How much in each of the analyzed accounts - approx 3.05 mio XEM each, and >2.8 mio of it “vested”
  • You need to have min. 10k XEM “vested”. And your account vests every day 10% of the unvested balance. -> I suggest you load approx 20k XEM into one account and wait for a week. You can check http://samesake.com/xem/harvesting-calculator.html for doing this calculation.
  • How to improve importance: Do some transactions :slight_smile: How I do it: I invite people for lunch and then pretend to have forgotten my wallet. They pay, and I repay them in XEM. That way I semi-gracefully onboard them to NEM/XEM and I get a better importance %.
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#4

Hi r3n3, thank you for sharing this. I got 6 XEM today in fee. so quite happy that it works. Now i need to pump the account.
Regarding back payments with XEM it is a great idea, unfortunately in Russia people are not so progressive in mass, so it is quite difficult to use this schema. I am thinking of creating a payment platform. at the end if i can pay with BTC for staff, why cant i do the same with XEM

#5

Hi irm,
FYI we contacted Coinpayments.net yesterday with the request to add XEM support. We’ll see…

1 Like
#6

I think that it is an interesting attempt. I think I will try to calculate with this.