Topic: KanoPool kano.is lowest 0.9% fee 🐈 since 2014 - Worldwide - 2432 blocks - page 426. (Read 5352527 times)

This is actually great Good read LOL

Ok, how about this. There is a giant pit, and a giant mountain with some gold in it. Miners come and try to find this gold by breaking a piece of rock off. The rock is hard and not easy to break free, so it takes a lot of work to remove a pebble.  

Each miner breaks a pebble off the mountain and throws it in the pit with their unique code. Every now and then, after about 3 trillion pebbles, a miner finds a rock made of gold, and throws that into the pit. When this happens, a machine scans each piece of rock in the pit and gives credit to the miner who threw it in, based on how many pebbles they added and the total pebbles added by all miners.

Instead of just awarding the pebbles they added between now and the last time a gold pebble was added, the machine looks back at the last 15 trillion pebbles added by everyone, and pays them for that work too.

If a miner could add 100 pebbles per day, and started adding them right now, but a gold pebble was found 2 days after they started, looking at the last 15 trillion pebbles, it would average that they were adding less than 100 pebbles per day because so much of the other pebbles were from others. Over time, as the miner added more pebbles, the portion of the last 15 trillion that were added by them would equal the number they produce per day.

This is similar to how the pool works.

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

Thanks for supporting a smaller pool! As you have probably already read on the kano.is page you'll need to mine for a bit over 2 weeks (based on the current pool hash rate) to ramp up to full share rewards.

Maybe an instructional video would solve a lot of the newbie questions and make thing easier to understand.  Of coarse it would need to be made by someone much smarter than myself. It could be done looking at the pool home page and explaining all the features individually. Go through each one explaining what your looking at and how to read it. Then post it on page one here and on the pool home page. It won’t eliminate all the questions but I’m sure it would help. I think people generally comprehend better with a visual aide.

What a great community, awesome responses even replying to a guy with 2 posts LOL. I'll switch next payout with F2 tomorrow

i give up
i must be really dumb
sorry i got lost after the first paragraph
this bakery did not help at all

Ultimately, my (main) reluctance would be this:  As it stands now, you could put a "donate to ...." wallet tag as you have currently in your .sig and people would think it would be going to Kano -- not thinking that it was actually going to you.  If it's not official, it's not official. 

Thanks for bumping up your max hash rate to include me...  I have not clue how well I will do since I have only been mining since August 2017 so I guess we will see..  Since we are going for easier to explain, I think it is best to switch to something tangible.  Since I like cookies, this analogy will be 1 cookie = 1 share.  The 5nd is 5 times the difficulty.  Lets keep it simple and say that the difficulty is 20, so 5nd is 100.  There is one cookie jar that can hold exactly 100 cookies which everyone is sharing.  This is a special cookie jar where the bottom kicks out and throws away old cookies when another goes in (so the cookies are always fresh).   For this example, lets say there are 3 miners working on filling the cookie jar.  Each miner is making their own cookie type at different rates.  The long term miner (miner 1) can make 1 peanut butter per minute.  Our miner (miner 2) can make 3 chocolate chip cookies per minute and the third miner (miner 3) can make 6 ginger snaps per minute.  Obviously if I ate all these cookies, I would not like cookies any longer, but you get the idea...
 
To keep it a little simpler, we will assume the block reward is 100 BTC, that cookie jar is initially filled only with peanut butter cookies (100 of them) and that full cookies are submitted once per minute – even though an S9 miner can do 13.5 Trillion hashes per second and the difficulty is also in the trillions, so in reality, our cookies are broken up into billions of pieces per second - but who wants to eat crumbs.  

So when we start mining, the cookie jar is full of other miner’s cookies and none of ours (so sad – no BTC if a block is found).  After each minute, miner 1 adds 1 peanut butter cookie to the jar, we add 3 chocolate chip cookies and miner 3 adds 6 ginger snaps and 10 old peanut butter cookies drop out of the bottom to the trash (or maybe I ate them).  Lets assume we find a block after minute 5.  There have been 5 peanut butter cookies, 15 chocolate chips and 30 ginger snaps added (and 50 old peanut butter cookies removed) so there are a total of 100 – 50 + 5 = 55 peanut butter cookies which is 55% of the jar, 15 chocolate chips which is 15% and 30 ginger snaps which is 30% of the jar.  So 100 BTC  gets distributed based on the percentages (actually 99.1 BTC gets distributed since Kano gets .9%).

If another block gets hit 5 minutes later, there have been a total of 10 peanut butter cookies added (5 new ones), 30 chocolate chips and 60 ginger snaps added (and all 100 of the old peanut butter cookies have been removed) so there are a total of 100 – 100 + 10 = 10 peanut butter cookies which is 10% of the jar, 30 chocolate chips which is 30% and 60 ginger snaps which is 60% of the jar.  So the second 100 BTC gets distributed based on the percentages.

Assuming that these miners continue to contribute the exact same amount with no new miners, when a cookie is added, a cookie is removed so the percentages stay the same going forward.  When that happens, you are getting the most payout you can.  Obviously if your miner goes down for a few minutes, you wont submit cookies so your percentage goes down a little but not a lot.  Also as more miners submit cookies to the jar, your percentage of the jar goes down (and your old cookies fall out a little faster).  The other thing that messes with all this is that when the difficulty goes up every couple weeks, the cookie jar gets bigger – and the cookies that fell out from the smaller jar get added back into the bottom of the jar in the order they left (so the analogy is not as good then).

So in my view of PPLNS, it really has nothing to do with “ramping” at all.  It is more about how many cookies you have put in the jar compared to everyone else.  So if I were to win the 50TH for 5 days, there would simply be a more chocolate chip cookies added to the top of jar for those 5 days over and above my 13.5TH that I have been adding to the mix since August.

Well, that is my attempt!!!  Hopefully I am not wrong and confuse everyone even more…

Medium to long term you will make more here (especially compared to F2) - just don't expect lots of small earnings popping up like you are probably getting now on F2 or any of the other "big" bitmain related pools....

Thanks guys, i have read a ton about the pay structor so i understand how it works. Right now on F2Pool it pays consistent just have nothing to compare.

Thanks guys, i have read a ton about the pay structor so i understand how it works. Right now on F2Pool it pays consistent just have nothing to compare.

Go back and read at least the last 4 pages. Understand how it works. Yes you will make more, but if you are into short term and jumping ship for elsewhere, you will lose.

Kano,

Noob here with 15TH. Do you think my payouts would be similar to other pools? I like to support the smaller pools but havent dipped into your yet.

Kano,

Noob here with 15TH. Do you think my payouts would be similar to other pools? I like to support the smaller pools but havent dipped into your yet.

Actually I'd not really mind if you even did put your address asking for donations to help promote the pool.
The point of the social media I guess is to tell others about the pool - I'm certainly never asking for donations of any kind
I can't see how this could run amok either unless someone pointed people at some scam/clone pool - so sounds all good to me.
I just never have the time nor inclinations to touch sites like twitter and facedesk.
They consume way too much time and the majority (but not all) of their use is pointless drivel

I wasn't trying to offend - just expressing my perception that the twitter handle "@kanobtc" implies an affiliation that, in fact, does not exist.  

Not sure but there is no expiration date shown in the announcement on page 1 of this thread...