Hi All,
I am a beginner miner, and have been mining with x4 S9's for 3 weeks. I started using NiceHash and ViaBTC because of ease of use, me being a noob and all. I really didn't know any better and just wanted to get up and running. After Nicehash fell last week, I turned strictly to ViaBTC for BCH and BTC mining. However, now being into the game a little more, I am starting to question if ViaBTC is really the best place to be mining long-term.
Anyway, I had heard many good things about Kano Pool before I had even gotten my miners, and was thinking of joining here first. However, then I heard about 'ramping-up' and got a little gun-shy to be honest. I still have no idea what this means.
I am seriously considering joining this pool, but would like a little more information to make my decision. I understand that there may be biased responses from active members of the pool, but I would appreciate neutral comparisons to other pools, as well as legitimate reasons as to why Kano Pool is where I should (or should not be) mining.
Thank you for taking the time to read this, as well as thanks for your response(s) in advance.
Hello, "ramping up" means how long it takes to reach full payout for blocks. The length of the period is determined by the current block difficulty and pool hashrate. Right now I'm pretty sure the period is pretty long --- someone else here can opine on that.
"ramping up" has its upsides and downside.
The obvious downside is how long it takes to reach full payout.
The upsides are, if you have a power outage, or have to power off your equipment, you'll still get paid if a block is found during that period. Obviously it won't be full 100%, but it'll be pretty close.
Another upside is, if/when you decide to leave the pool, you "ramp down", such that any blocks found during that period you still get paid for, based on how far through the "ramp down" you are.
Every legit pool has this type of thing, usually implemented in slightly different forms. The net result is the same, and it's largely to dissuade "pool hoppers" from taking advantage of the pool. In other words, someone can't join the pool at the tail end end of a 5 day block, for an hour, and get paid the same as someone who's been mining there the full 5 days.
One upside to this pool is that, in the long run, you will probably get paid better. The flipside is, because it's a small pool, there will be times when payouts are scarce because of variance. For example, right now it's been almost 5 days since a block was found.
One downside to the pool is you can't configure a payout threshold. Since transaction fees are high, and it's based on the number of transactions you are paying from, that can be painful and expensive to pay.
One upside is the pool op, Kano, is 100% transparent about what's going on. To the point that he'll make your eyes glaze over with details about why something is the way it is.
M