Topic: KanoPool kano.is lowest 0.9% fee 🐈 since 2014 - Worldwide - 2432 blocks - page 425. (Read 5352229 times)

Yeah it peaked for about half an hour.
Alas, it was short term.

So ... 4 hours after the maintenance ... problems again on both servers in SIlicon Valley - the web server and half the main stratum server.
I'm awaiting a reply about when it's fixed ...

Edit: fixed now - problem lasted for 19 minutes from 16:45 UTC to 17:04 UTC
Web is OK again, as is the 2nd main stratum server

My simple understanding of how this works:
Assuming our current ramp to be about 16 days, And this guy mined for 46 days before bailing

https://imgur.com/a/v30IN

He quit too soon.
Note there are several blocks where he got 6/5th of his reward.
Even after he left.

My page says it's been too long since we found a block. 

More hash power coming.

MINE ON!!!

hmmm my page still sais 48

im blasting it all over social media also

Looks like the 10 BTC give away works - the pool's hash is now 53,412.71THs and climbing fast.....

Updated the 10 BTC competition to state that miners must be new, i.e. joined this year, and also there's now a 0.5 BTC reward for >=5PHs miners:
https://bitcointalksearch.org/topic/kanopool-kanois-lowest-09-fee-since-2014-worldwide-2432-blocks-789369

There's currently an outage with the web server and the Silicon Valley half of the main stratum server.
The provider said there'd be brief network latency or packet loss due to network maintenance, alas that has turned into dead servers at the moment.
I'm awaiting them to resolve it ...

Edit: Seems like the web server was only very temporary.
But the Silicon Valley half of the main stratum server is still dead.

Edit: Silicon Valley stratum server is back alive - but there's another 1.5 hours listed for the maintenance, so I won't hold my breath hoping all is ok yet ...

rofl now we jst need some actors tyo make a vid since we have a good story rofl.

and to the next post who sais we must be hear for money im more hear cause i dont like corporations and since major corp gives me appts with free hydro this seems like a dam funny idea to me im mining from their profits
canx get 6 s9's per 1 bedroom appt roughly 700$ of hydro for a 800 $ appt

My brain is about to explode so. I’ll take a look at this tomorrow. I’m going to sleep.
Thanks for all the effort tho.

Mine on!!!

Dude, you had me crackin' up reading this thing. Ha!

Alright... here goes nuthin'!  

Padrinogtr, I doubt you'd be here mining if you weren't at least partially interested in money, so I hope this analogy will keep your attention past the first paragraph! (See Definitions for bold phrases if you get confused )

The Analogy:
Imagine a bunch of us sitting around with our own unsealed paper coin rolls/wrappers in which each of us continues to grab a handful at a time of coins of all different denominations--that we are supplied by the smartest one among us so we'll work the most efficiently--and insert them into one side of the coin wrapper until it's so full that they start falling out of the other side. At any point in time, the most recent coin pushed into one of the coin rolls could be a $1 coin, which is currently the magic number that everyone is looking for to put in their coin wrapper so we can all get paid and take a break for a (nano)second. Once that $1 coin is found, the lucky guy who found it shouts in glee that he found the one that everyone was looking for, and we all spread the word that it's been found and share the details about the event that just took place.

The Reward:
At the point where the $1 coin was found, the rest of us immediately want to know how much we're going to get paid for the work we did. We all know that the current reward for finding the magic number is $12,500, and now it's time to split it all up based on the work that everyone did. So, the boss adds up all the coins that each of us had in our coin wrappers and gives us a percentage of the $12,500 based on the face value of the coins we each individually fit into the coin wrappers--not counting the ones that fell out of the other side.

Example Payout:
Let's say I have small hands and can't grab big handfuls of big coins like some of the other guys around here , so I was usually putting dimes ($0.10) in my coin wrapper in between taking breaks every now and then. Well, when it comes time to add everything up, at best I might be able to fit $5 total in my whole coin wrapper--by the way, the wrapper is always five (5) times the magic number. Now, when the boss compares this to some of the other guys who were filling their coin wrappers with half-dollar pieces ($0.50) totaling $20 per roll, of course, they would expect to get four (4) times the reward that I would get. To keep things simple, let's just say there were only two (2) of us filling the coin wrappers. I got $5 into mine, and you got $20 into yours. My contribution ($5) divided by the total of all contributions ($5 + $20 = $25) would be 0.20 (20%), which would get me a payout of the result of the following equation:

$12,500 minus the boss' cut of 0.9% (0.009)--$12,500 - $112.50 = $12,387.50--multiplied by 0.2 equaling $2,477.50.

However, your contribution ($20) divided by the total of all contributions ($5 + $20 = $25) would be 0.80 (80%), which would result in a payout for you equaling ($12,387.50 multiplied by 0.80) $9,910.

Closing:
There are certain areas above that I could've delved into a little deeper, but I wanted to keep it relatively simple and light-hearted, so that's all I have. Thanks everybody for giving me a shot, and thanks PerfectPlus174 for putting a great challenge out there for us to show how much we've been paying attention to what all these great contributors are sharing with us. Goodnight all!

Definitions:
Big Handfuls of Big Coins = Top-of-the-line ASIC miners
Bunch of Us = Pool of miners
Coins of all different denominations = Shares of various values of miner work
Current Reward = 12.5 BTC Miner Reward (plus Transactions Fees)
Details about the Event = New candidate block information
Each of Us = Individual Miners
Everyone = All miners on the global Bitcoin network
Get Paid = Receive our portion of the Miner Reward
Handful at a Time = A share of mining work
Lucky Guy = The miner who found the new candidate block
Magic Number = Network Difficulty
Small Hands = Low-level ASIC miner
Spread the Word = Propagating the new candidate block information around the global Bitcoin network
Take a Break = Ending the mining shift early to reset for the next block
Taking Breaks Every Now and Then = Stupid internet and power companies!
The Boss / Smartest One Among Us = Kano, of course
The Boss' Cut = The pool fee
Falling Out The Other Side = The work we did prior to the 5Nd
Unsealed Paper Coin Rolls/Wrappers = The 5Nd

Disclaimer: I should very well get disqualified for just being picked in luxMiner's promo, which technically threw me over the 15Ths cap. On the other hand, my usual hashpower is only 3.5Ths, and I actually had to work for this one, so I tried to give my best real-world analogy based on my understanding of how the 5Nd and mining in general works.

Thanks again,
BSGMiner

Let's try another comparison. Considering it's referenced as "mining" for similarities in proof of work, we will stick to that analogy. It's also more of an overall analogy of mining than just the 5Nd but I had fun so......

****NOTE: There may be some references to diff that I mixed up, so someone sort through this insane scenario if necessary.

You show up to Kano's job site looking to mine for some gold with the others in this pool. You READ THE RULES and notice nobody gets paid until a golden block is found. Maybe you're brand new, maybe you have equipment from another job site, either way some of these guys have some massive machinery and are hashing away rock and what not looking for a hidden block of gold.

work/shifts: You set your equipment up however powerful (since we're painting mental pictures, say you've got 10 TH/s) start hashing away looking for gold with the work you've been given. All that rock goes onto a conveyor belt so it can be measured and verified how much material (shares) you actually did versus how much sand/dirt was rejected. As you are mining and loading the conveyor belt, the material (shares) is being counted and split up into shifts of 50 minutes or less to keep track of the average work you've done. Your mining equipment's work rate (hash rate) is measured by how how much material (shares) you can load onto the conveyor in retrospect to the difficulty in moving the material and the conveyor speed .

luck:Meanwhile, the pool is exchanging dump truck loads of new rock material to mine on about every 30 seconds that it needs to move to the conveyor in order to try and find a hidden golden block. The miners expect to find a golden block within a certain amount of time & material moved as a work goal. If the pool finds a golden block in the expected amount of work/time then they were 100% on track for payday. The hope is that they can process enough material that they will likely find a golden block. There is no guarantee that the material will be enough to find a golden block and payday may be delayed. The more paydays occur closer to their target, the closer to 100% the average paydays work out to be. The more material than can be processed, the higher the odds of an on-time or even early payday. _{On occasion, Bob's wife sends him with chicken for lunch which increases the morale of the miners and significantly increases the luck of the pool. Furthermore, when a golden block is found, ritualistic dancing and praising of chicken often lures a golden block out from hiding much earlier than expected. This is great luck and sometimes triggers an overwhelming response to make amends amongst feuding crew members suffering from block withdrawals due to an earlier streak of bad luck.}


5Nd/ramp: After a couple days of complaining you're not getting paid because nobody has found a golden block yet, one of the miners finds a block of gold and everyone cheers. Finally, this is payout is gonna be NICE! You check your rewards to see your payment and say "WHAT THE HELL?! This Kano guy is ripping me off" to which the rest of the pool's miners say "Whoa there, bud. Our dear Kano is NOT ripping you off." The miner cries out that he has been mining away at a rate of 10 TH/s for 2 days now and got a low payout for all of his work. "Yes, that's the PPLNS system in full effect, brotha." You scratch your head and say "But why is my paycheck so much smaller than my last job where I was getting paid several times a day?" By this time you grabbed the attention of a few veteran miners who try to explain to you that everything works out or they wouldn't be here and to just keep working. They assure you this is the best pool with several members inviting your questions and the pool operator himself, Kano, stays active with letting everyone know what's going and sharing his knowledge. They try to explain, but you still can't get passed that small payment you feel was wasted away for nothing.

So, what about all that material you mined? Though you submitted your material to the conveyor and it was accounted for, it does not get included in the very next paycheck. Instead, the conveyor is moving the material to the pools storage facility and the reward is being calculated down the conveyor line. It starts from the last block found and keeps tallying those shift averages (total shares during a shift) until the total difficulty it took to process the material (shares) adds up to 5 times worth the difficulty of all total golden block mining operations with the idea of a 100% targeted golden block paycheck and is then divided by 5 ( or simply 1/5) of that as a means to average the swings. This way if your conveyor belt has patches of no material or a reduced amount of material, you won't miss out on your paycheck as it will be averaged with your other shares by multiplying 5 times worth then dividing by 5 for an average. It also prevents a new miner from pulling up next to you and your conveyor and only processing a few shifts worth at the same rate but getting the same paycheck as you without sharing his damn chicken even.

another S9 coming online

MINE ON!!!

hi, were somewhat on the same range, i have 14.34 ramped up TH/s ave.  This can be seen in WORKERS > SHIFT GRAPH, the right most corner that has "xx.xx av"  (where x = the numbers)

I have mined with kano back and forth before but since Jan 22, stayed and planned to stay for good.


Sharing you my experience as a small miner and long time lurker:
The S9 i got has around 14TH/s and in every block with a miner reward of 12.4-13.4 size yields me 0.0035-0.0039 and this was the time when the pool was at 46-50PHs (estimate).

So with this in place, if everything stays thesame, we just need to get at least 10 blocks of at least 12.5 miner reward and we get thesame BTC mined as per cryptocompare gives us:

"https://www.cryptocompare.com/mining/calculator/btc?HashingPower=14&HashingUnit=TH%2Fs&PowerConsumption=1600&CostPerkWh=0.2&MiningPoolFee=0.9"


with a more of luck on the pools' side, if we get more than 10 blocks plus a block with more miner reward in it in a month with exactly thesame figures of PH in the pool, then we get more compared to other pools.

this is just my observation and experience, if there is any wrong info i have mentioned, long time pool gurus, please educate me 

yes jst need to change the pit into a conveyor belt which moves with hashrate instead of time . can have a light over the effected watch area and a brighter light for the pay area . fun contest even though i haven't been here long enough to qualify its a fun community

This is actually great Good read LOL

Only difficulty increasing makes it harder to find blocks

Sounds good man, ill give her a try.

So here is another question if anyone can answer.. How does the crazy increase in difficultly and overall huge increase in network hash rate affect the smaller pools. For example F2 went from 1000ph to 1360 ph in a matter of weeks, i assume this just makes it that much harder to find blocks.

Let me know your thoughts please