Topic: KanoPool kano.is lowest 0.9% fee 🐈 since 2014 - Worldwide - 2432 blocks - page 491. (Read 5352367 times)

Some Billionaires can afford to dump Space Trash around other Planets.

Yeah - here's a real world example that gives a similar way to look at how bad luck effects low datasets in short time frames.


Say you have $200 a month to play blackjack and you play everyday but you only play through the money once per day.  All your winnings go into your right pocket and once you finish for the day you leave with what you won.

The next day you take what you won, put it in your left pocket, and play through that once.  Etc, each day for the whole month until you get your next $200 to add to whatever current pile you have. If you get through the whole month you can see if you were a bit lucky or unlucky with gain or loss but you got through the whole month without getting busted.


Ok, here is the spin that will show you why your pool is playing with fire:

If you are a larger pool, it is like you are playing at the $1 or $5 tables and you get lots of bets to start out and most likely get through most bad streaks and have money for the next day all the way through the month.  You won't feel the effect of bad streaks that much since you have enough bets to get win streaks to counterbalance within the month  (relate that to a diff cycle in mining)

If you are at $20 tables it starts to get a bit dicey if you get some bad streaks that can break you before the end of the month since smaller bad streaks can knock you out.

If you go to $50 or $100 tables you start to see how getting a little bad luck early in the month can knock you out till next month... or you can play with fire like this pool did for the previous three months and skate through and feel normal by not getting enough bad luck to really see that you are playing with LOW MARGIN OF ERROR

This example isn't exactly what is happening with mining, the math is different but it illustrates my point about small mining pools sputterring in short time frames (diff cycles) when they get too low of an expected blocks per month...  you will experience the same feeling as getting busted early in a month and a long wait.  Maybe things go back to normal the next month or whenever but you just don't get enough tries to have luck work itself out during each diff cycle.  



Ignore this if you want, but you've been playing with low margin of error since Nov and this last diff cycle you crapped out.   And with mining, you need consistent luck since mining returns diminish every diff cycle increase

https://youtu.be/_Twmc6jUrNw?t=25s  This video is fitting

500% (again)... Deja vu.

Let's call Elon for support. Seeing he sacrificing his Tesla for awesome PR, it was just stunning. "Don't panic"

I feel like I'm walking face-first into an Apple vs. Android joke, but... It's the Android app.

I have a fruitcake from 1996, maybe that can break open the block.

I like how the percent on the homepage went below 500%...    Well actually I don't, but hey..  I say we  MELT this block,  it was only a block of ice...  Or we can roll it into the grand canyon and see it break?

will take dynamite to crack this god damn block

Well to do the math on that
2016 blocks - 1% is 20.16 blocks - 0.1% is 2.016 blocks
- so with an extra 20 minutes in a single block (or 2 missing average length blocks) you can reduce the diff change by almost 0.1%

Edit: and the diff change was:

Edit2: and totally randomly, but slightly related the last 4 blocks since the diff change have averaged 20 minutes each
... and each has been pretty close to 20 minutes - 19min, 17min, 19min, 25min

Just got my new T9+'s in. More help on it's way.

Some interesting changes. I posted about in the T9 hardware thread here. https://bitcointalksearch.org/topic/m.29754762
if you are interested in it

The diff is averaged over 2016 blocks - so a drop right before wouldn't really impact that much.

@kano - in light of my last post about Diff a sudden hash rate drop right before the jump then back?

https://statoshi.info/dashboard/db/mining?from=1517956837269&to=1517961127612

The difficulty changed!  Here's to hoping we crack a block before 500% again!

Yes, we are mining to find a new block, and then add transactions to that block.

The blockchain is a giant book of transactions. Finding a block is adding a page to that book. In order to add the page, a miner performs the work Kano and others said.

Part of that work is a set of transactions we'll include in the block (on the page we add.) This list is pulled from the unconfirmed transactions that the pool gets from the network.

As a reward for adding the transaction to our new page, we get the TX fees for that transaction. Kano's pool, unlike some other big pools, pays these fees to the miners.

Finally nicehash paid me my new wallet balance, and only 10 % of the stolen funds from before, so I FINNALLY got a chance to consolidate my wallet.  I picked the El Cheapo fee... lets see how long this takes.

Cost me .00052   which is like 5 bux..  BUT HAPPY TO SUPPORT THE MINING POOL - that confirms my block!

EDIT:  took about 45 minutes to confirm.   Fees must be really low if they scraped up my transaction from the bottom!

Better to think of it as we're always "mining to find the next block" (of the blockchain).

Yep, they ain't empty!

...reference the last three words in Kano's signature.