Topic: KanoPool kano.is lowest 0.9% fee 🐈 since 2014 - Worldwide - 2432 blocks - page 448. (Read 5352527 times)

How's BTC.com?

Yep, this is a bravo mining in the making. 

I don't mine of any of the larger pools I do not think they play by the rules and I do fear they short change miners out of there earnings.
I myself mined for 2 years solo.. yes 2 years. without a single block to be found.

I now mine here at kano I have very low power only 2.5th online with a further 2.5 awaiting to come online next few days.

I know that cpu was no longer viable dew to demand on cpu and difficulty and no pools accept GPU or CPU anymore so technically they are obsolete in the BTC game..

Satoshi told us in his whitepaper that an attacker on the chain would find it more profitable to play by the rules..  But my understanding of this would be that would be find on one chain.. But we have two chains now so any attempt to "attack" bitcoin for personal gain would now benefit the attacker as they can mine a separate chain and still earn.

he also stated

We consider the scenario of an attacker trying to generate an alternate chain faster than the honest
chain.  

"Block height. BCH is currently ahead by 8143 blocks."
https://fork.lol/blocks/height

The race between the honest chain and an attacker chain can be characterized as a Binomial
Random Walk.  The success event is the honest chain being extended by one block, increasing its
lead by +1, and the failure event is the attacker's chain being extended by one block, reducing the
gap by -1.
The probability of an attacker catching up from a given deficit is analogous to a Gambler's
Ruin problem.

The above statement is true if both chains are of the same specification.

But this did not take into factor a new chain with "emergency" DIFF adjustment being used to create a longer chain?

If I am mistaken correct me on this.

He also stated in the whitepaper
The probability drops exponentially as the number of blocks the
attacker has to catch up with increases.   With the odds against him, if he doesn't make a lucky
lunge forward early on, his chances become vanishingly small as he falls further behind.

Now... what better way to get a foothold than to pump the Bitcoin DIFF so while on the other hand having a much lower DIFF on 2nd chain and being ahead of BTC chain by a fair bit..

Anybody can participate, even with GPU, but don't expect to get rich. The fairness isn't the making a profit part, it's participating in the system. I think you have the whole idea wrong. Miners weren't "kicked" from bitcoin.

All you have attested to is even more reason why you should support a smaller pool if you believe in BTC. The more people panic and jump to slushpool, BTC, antpool or whatever, the more they are encouraging what you fear. The market is controlling the outcome. Bitcoin is still in it's infancy when you think about the potential it has.

He is right its now arms race with hashrate. first the CPU/GPU miners were kicked from bitcoin to make way for the ASIC... Since asic arrived on the scene we have seen the DIFF explode.  It is not almost impossible for new miners to come into the space without massive investment.  It really is pushing the smaller miners out the game I mean come on 400+ days ROI for antminer s9?  I think there must be other miners being used higher than 14th but only being used by bitmain or others while they jump the chain diff higher and higher then sell off the lower models back to public when they "no longer need" or want them.

Bitcoin was supposed to be a fair system I though where everyone could be a part of it but now I see this vision is no longer bitcoin.
When you take away the chance for everyone to take part in the network you remove the fundamental of bitcoin DE-centrialisation.

As far as I can see I guess the DIFF "attacking"  Is for one thing only to push out the home miners from the equation leaving the path open to the larger company's who are steadily grasping more and more of bitcoin for themselves while pushing out the rest.

I fear in the future we will know the truth about the network and what is really going on with the DIFF but as far as I can see we are all being pushed out of the earning tree to make way for the few... To me that is distructive to bitcoin and we should not and cannot allow it to continue..  While some sit in silence knowing full well what is going on here but making out in public that there is nothing wrong..  Step back.. Think about this.. Is this really what we want bitcoin to become??

Not everyone can afford to keep mining. I'm sure a lot of those beginners will see that they aren't making "profit" and decide it is not for them, even with efficient machines such as the S9. I'm waiting for them to die off and leave the mining to those who are serious about BTC. I don't care about the profits because I am not cashing out my BTC, so there technically is no profit or loss yet. Those that are relying on finding blocks to justify mining the blocks will soon grow tired of the anxiousness and stress to pay the bills. It's not for the weak or simple minded, it's not a get rich quick, it's not easy money. It's hobby or it's a business with a lot of resources. Even as a business you are scaling to fail and your long term viability will diminish.

Well here is a good example of what not to do, lol

I got into mining in late December 2017, and yes I overpaid and bought the miners thru ebay... before prices started falling on mining equipment and bitcoin. (You know FOMO fear of missing out)

So I paid a high premium to get in... (not real smart I know but i was naive)  

Looking back, I'd have been better off spending that money on purchasing bitcoin (assuming I could have hit the low end of the market which I doubt would have happened)... probably could have 2 bitcoin or more if I'd timed it right

It is what it is now though and keep on mining!

But unless the new miners get dirt cheap, or we see a drastic increase in hash power with new machines coming on board, I can't afford to add more miners when I'm not making any money anyway.  Now understand I am not trying to pull any money out from this venture, just let it set and build a nestegg for 5-10 years down the line when I decide to retire.

If it were not for free electricity and me having the cash to invest, I'd be screwed.  But I've also learned a lot (still learning) about mining and bitcoin.  

One thing is for sure, mining is not for the faint of heart!!

Thanks to Kano and to all of you for this Forum and all your help and hard work!

100% Agree  (especially the 1st paragraph!!).

I've been meaning to post something very similar to this is what I think almost every time I read most of the new posts.

Mine On!!

Mate the only point that you make is that you are an imbecile. Nothing you are saying is new to us "old heads" we knew about it years before you even had an inkling of it in your head. We knew, we consider and we plan our mining around our knowledge, anything you say is just bad gas. I am one of the few have put up with the rubbish spewing from your fingers but its just boring now, so from no on it'll just be when someone who doesn't know better quotes you that I'll have to put up with it.

The number of miners makes no difference, its just about the size of the pool. Its nothing to do with the pool per-se, its to do with the people mining at the pool, and their ability to increase their hash rate to keep the pool and their income viable. Its better to have less miners with more hash power than more miners with less hash power.

If people want to have a consistent income from mining they have to keep buying hardware to keep up with the difficulty, its the same since day 1 of mining and will always be the same.

If anything the difficulty to keep up is to do with the slow down in technology innovation around mining and the greed and control of a single primary supplier. In the past hardware has got faster, more efficient and cheaper, this has changed recently, that and the increase in value of bitcoin and the subsequent "gold rush" mentality of new miners means its tougher and tougher to maintain that steady growth.

People getting into it now are only just realising what we "old heads" knew 18 months ago. You can't do this at home anymore, you have to have your gear colo'ed somewhere with cheap and abundant power. Problem is that there is no room at the inn for most of the hosting companies.

I believe the luck will even out and yes you might have an awesome month with twice as many blocks as expected but that still wont make up for lost btc you could of earned with consistent payouts through out the difficulty changes.  For example if you found half as many blocks as expected one month and double what is expected the next month it does not even out because with the difficulty increase you will get less no matter what the second month. So If you started mid january you will never make back the btc you could of had with regular payments.  If you started mining here on a month with double the luck then it would be the other way around.  ALTHOUGH with the 5ND ramp combined with difficulty changes, lost btc during your 5nd ramp up WILL NOT EQUAL the btc gained during the 5nd ramp down becuase the difficulty has increased by then!!!!!!!

prove me wrong and stop saying mining isnt for the faint of heart. This pool isnt for the faint of heart. Mining is fucking easy

We are not on the same block. When a new block is found on the network, all of our miners start work on that one.

As difficulty goes up, the amount of time it'll take for older miners to find a block goes up. They still have chances to find a share that results in a block, but the probability goes down. (Although it'll never be 0, just very close to it.)

Nope - if the pool grew with new miners then at least the current miners will continue to get smaller and smaller rewards..  if the pool doesn't grow at all then no one gets anything..  less and less of ZERO is not the same as less and less of SOMETHING CONSTANT

that is the point you old heads keep ignoring.. you keep thinking this is the same old small vs big pool discussion and ignoring the ghost ship pool syndrome

I pointed this out months ago and got all kinds of 'stupid native yelling' thrown back at me...  enjoy mining your smugness


PS-   Who is cryptostarusa anyway??  Is that cloud hash that kano is spending his BTC on?  or is it a miner he reached out to and greased his wheels?

It looks like a lot of us are doing this. With the equipment coming in this week, as soon as it's up, I'll have tripled my meager hashpower. And I, too, have hit the wall - no additional power is available here.

Cryptocurrency is neither a hobby nor business for the faint of heart or impatient.


MINE ON!!!

Stickin Wit It!! Mine On With Kano-San!! Come On Luck!!

1/2 of my Avalon's will go online tomorrow, not braving the possible 2-5 inches here today just to get 24 hours of mining and 5 hours of lost driving time.  haha

Yep, mining is not as easy as it used to be for any of us but you have to have a plan and stick to it.  Once my March shipment comes in I will have nearly doubled my hash since the end of December.  That's the way it is now.

If we all had the money to double our mining operations we wouldn’t be having this discussion. Essentially, since December, each and everyone one of us would have had to double their operation. I am out of power at my home. I can not add anything more. So while your statement in theory is the correct approach, real world application is not possible for some. I am currently setting up a mining facility to do just that and have 3 partners also included in the effort. Together we have purchased 100 additional S9s on the March batch. I understand what you are saying and I am in agreement and also actively doing something about it but that solution is not as easily implemented in the real world as it is on paper.

valid point also - but i would also suggest that with more miners, the probability of cracking more blocks (within the same time period) increases.  Therefore the small miners like us, get more run-rate payouts (albeit smaller share, but more frequent) - which then helps us to fund more rigs.  It all helps.

Its not about getting more miners to mine at this pool, what should be happening is you and everyone already on the pool should be buying more hardware to keep up with the difficulty, getting the rest of the pool bigger but staying the same yourself means you will just get smaller and smaller rewards.

Instead of spending time trying to get more miners, spend some money and get more hardware yourself. This isn't something new its something everyone has had to do since mining began.

you legend it worked
i replaced the kano.is with the ip and boom worked straight away
thanks, waiting for reboot and gonna c if theres any difference