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Author Topic: [~220PH] KanoPool kano.is 0.9% fee 4.8of 10BTC giveaway 🐈 US,UK,JP,NYA,OR,DE,SG  (Read 5180142 times)
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December 23, 2016, 07:47:17 AM
 #22661

Yesterday and perhaps today also was a record in BTC trading level. I'm reading that 98.8% of all trading "Buying/Selling" was done inside China! AND that's scare the sh&( out of me 
Then maybe you should be trading more.

You bet I'am ... I'm selling them all. Might just buy Ether with them! 
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December 23, 2016, 08:40:37 AM
 #22662

Hi guys, hope you're doing well... I started (yip, late, I know...) with Mining at Kano about one month ago. I was happy as Blocks were found and reward being transferred to my wallet. What I didn't think of was the transaction fees and the quite huge transaction size due to the small payouts (S7 miner). Did I miss a way to avoid this or lower these?

Best regards

Daniel
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December 23, 2016, 09:00:34 AM
 #22663

Hi guys, hope you're doing well... I started (yip, late, I know...) with Mining at Kano about one month ago. I was happy as Blocks were found and reward being transferred to my wallet. What I didn't think of was the transaction fees and the quite huge transaction size due to the small payouts (S7 miner). Did I miss a way to avoid this or lower these?

Best regards

Daniel

Daniel, actually Kano pool charges one of the lowest fee. o.9% if I'am correct. Some pool charges as much as 2.4%. I think what you are experiencing is the use PPLNS (Pay Per Last N Shares). You need to do some reading on this and understand how it work. Noting lost nothing gain it is just a payment method which control miner that try to ride luck.

We need BLOCK. Friday here already
 
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December 23, 2016, 09:15:56 AM
 #22664

Thanks for the reply, UG. Well, the PPLNS payout method is one thing I read a lot about and understood (at least I guess I understood). But what I meant, sorry if I didn't described precisely, are the fees when you transfer a certain amount of bitcoins from your wallet to a friend or shop or whatever. Due to the small payouts from Kano I see a lot of small payments received in my wallet that cause a high fee when being transferred. Sure, because the payment size being transferred is huge and the fee (satoshis per kB) is quite high. Small rewards for example = 0.00015 BTC per Block. And to transfer let's say 0.05 BTC will eat up a large amount of the hardly mined coins because of the fees. Did I explain it better as before? Anything I can do to lower the fees?
usukan
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December 23, 2016, 09:54:07 AM
 #22665

Thanks for the reply, UG. Well, the PPLNS payout method is one thing I read a lot about and understood (at least I guess I understood). But what I meant, sorry if I didn't described precisely, are the fees when you transfer a certain amount of bitcoins from your wallet to a friend or shop or whatever. Due to the small payouts from Kano I see a lot of small payments received in my wallet that cause a high fee when being transferred. Sure, because the payment size being transferred is huge and the fee (satoshis per kB) is quite high. Small rewards for example = 0.00015 BTC per Block. And to transfer let's say 0.05 BTC will eat up a large amount of the hardly mined coins because of the fees. Did I explain it better as before? Anything I can do to lower the fees?

I know your problem exactly - and no way to escape but pay min fee to consolidate payments to another address and wait at least a day sometimes for trans to clear - from new address you can get fast confs with a low but competitive fee


                                                   
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December 23, 2016, 10:20:33 AM
 #22666

Hi usukan, thanks for confirming. I thought I missed a part, but that's exactly how I did, at least the second time I transferred something...  Wink Merry Christmas guys and lots of Blocks as nice presents!
philipma1957
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December 23, 2016, 12:12:18 PM
 #22667

S9v1 is very roughly 1/4 of the pool over the last 2 3 weeks.

P.S. no more comments about who owns F2Pool unless they are fact based.

Thanks for info.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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December 23, 2016, 02:00:35 PM
 #22668

Thanks for the reply, UG. Well, the PPLNS payout method is one thing I read a lot about and understood (at least I guess I understood). But what I meant, sorry if I didn't described precisely, are the fees when you transfer a certain amount of bitcoins from your wallet to a friend or shop or whatever. Due to the small payouts from Kano I see a lot of small payments received in my wallet that cause a high fee when being transferred. Sure, because the payment size being transferred is huge and the fee (satoshis per kB) is quite high. Small rewards for example = 0.00015 BTC per Block. And to transfer let's say 0.05 BTC will eat up a large amount of the hardly mined coins because of the fees. Did I explain it better as before? Anything I can do to lower the fees?
If you run your own wallet (as you should Smiley ), you'd have to consolidate your payouts every so often.
This can be done with a very low fee since it's not urgent.
The pool will also confirm it if it's in the mempool when we find a block and there's enough space.
I guess you just have to plan ahead.

But I guess the other point about it is, that you pay no txn fees to receive the payouts.
Your mining reward is what you get (and the reward itself only has a 0.9% pool fee)

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
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December 23, 2016, 03:41:17 PM
 #22669

Hey kano whats your opinion on Scaling Bitcoin with Secure Hardware... as mentioned here: http://hackingdistributed.com/2016/12/22/scaling-bitcoin-with-secure-hardware/ ?

Bitcointalk Trading Address: 149cRHxme8kP4grxg2f7cgyYTqGhZzvj6f
elokk
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December 23, 2016, 03:55:49 PM
 #22670

Hey kano whats your opinion on Scaling Bitcoin with Secure Hardware... as mentioned here: http://hackingdistributed.com/2016/12/22/scaling-bitcoin-with-secure-hardware/ ?


 Emin Gün Sirer , enough said

Hosting ASIC hardware in Missouri ($63kW per month Sept-April, $75kW May-August) Antminer S9 @ $85/month
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December 23, 2016, 04:30:33 PM
 #22671

Thanks for the reply, UG. Well, the PPLNS payout method is one thing I read a lot about and understood (at least I guess I understood). But what I meant, sorry if I didn't described precisely, are the fees when you transfer a certain amount of bitcoins from your wallet to a friend or shop or whatever. Due to the small payouts from Kano I see a lot of small payments received in my wallet that cause a high fee when being transferred. Sure, because the payment size being transferred is huge and the fee (satoshis per kB) is quite high. Small rewards for example = 0.00015 BTC per Block. And to transfer let's say 0.05 BTC will eat up a large amount of the hardly mined coins because of the fees. Did I explain it better as before? Anything I can do to lower the fees?

some specifics to what @kano said...
accumulate btc for 50-100 tx (from the pool) to wallet#1, then transfer all in one go to wallet#2.
you can use just 20 satoshis/byte, so 0.005 btc in fees for 100 tx consolidation or 0.0025 for 50tx
You will have to wait several hours (or until kano gets a block) for confirmation, typically.
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December 23, 2016, 05:49:56 PM
 #22672

Block by amir with 68TH/s!  Welcome to the Acclaim Board with your 1st Kano block!  This is our 1st of the day  Cheesy

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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December 23, 2016, 07:15:22 PM
 #22673

a block with 68TH/s, I started mining w/ 8TH/s.. its not futile, right  Kiss Wink
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December 23, 2016, 09:35:16 PM
 #22674

Hey kano whats your opinion on Scaling Bitcoin with Secure Hardware... as mentioned here: http://hackingdistributed.com/2016/12/22/scaling-bitcoin-with-secure-hardware/ ?
The best thing about bitcoin is that it is p2p and does not require trust.

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
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December 23, 2016, 11:41:30 PM
 #22675

Why doesn't ckpool support segwit? You already use 0.13.1.

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December 23, 2016, 11:46:47 PM
 #22676

Is there anyone here going to The North American Bitcoin Conference in Miami in January?
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December 23, 2016, 11:52:48 PM
 #22677

Why doesn't ckpool support segwit? You already use 0.13.1.
Scroll back a few pages...

If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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December 24, 2016, 12:00:46 AM
 #22678

Why doesn't ckpool support segwit? You already use 0.13.1.

Because Kano does not approve of it.

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December 24, 2016, 12:07:58 AM
 #22679

Ditto.

To infinity and beyond...on two 741s and one of only 3...nope, make that 4...full nodes in Hawaii...on <30A. (I have other gear on the Hoth ice planet)
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December 24, 2016, 12:25:52 AM
 #22680

Why doesn't ckpool support segwit? You already use 0.13.1.

Because Kano does not approve of it.

did some reading on this awhile back.

good chart on adoption status here -> https://bitcoincore.org/en/segwit_adoption/


If I provided you good and useful info or just bring a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery... BINANCE vs Huobi.Pro - Buy/Sell hash at Nicehash - Rent Rigs at MRR - SMOS -BBT/VOSK/AANTONOP/CBB/PM57/CryptoNEWS/CoinMktCap/Cryptoboreas/BITBLASTER!
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