KanoPool since 2014 🐈 - PPLNS and Solo 0.5% fee - Worldwide - 2436 blocks

[kano]

I'll be doing another main node restart in about 30 minutes (at 12:15 UTC)
This will cause EVERYONE to failover and fail back.
More patches.

Within about 10 minutes after I do that, I'll also do a KanoDB restart.
This will have some web updates and a few new rules about email addresses.
1) There's a new page Account->Verify that you can verify your email address
2) If you ever change your email address, it require you to verify it before allowing you to change anything else
3) Some accounts I will force on them requiring them to verify their email address before changing anything or mining, if the email address is junk
4) Other accounts I will force on them to verify their email address before changing anything if the email is invalid.

Main pool node restart all ok.

KanoDB restart all ok also.

Again note there are some minor changes to the web site - mainly the account verification.
Related to that, it disables any input page fields that can't be changed when your account says so at the top.
Also, the top of the web page shows all messages correctly now, before it would sometimes show the old state after you made a change - that's been fixed also.

Anyone finds any problems or questions about the web changes - ask away

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[minergain.com]

Out of curiosity, when our block takes 74 hours, does that mean the transactions we are processing have not had a single confirmation for that many hours?  Or does the bitcoin network system have all pools grab a new set of transactions once a block is found on the network? 

[kspare]

What a bad luck.
just started to mine and joined kano's pool - 4 days without any reward.

Relax buddy!   If 4 days without a reward has you all worked up, you may want to find another hobby, because this is how it goes sometimes.

I'm trying to view this from another angle.

even with getting paid out on transactions, when we are getting this far behind even 100% variance, and the price getting as high as it is, this leaves alot of money on the table. If other mines are hitting 100% vs where we are at this month, thats alot of money left on the table.

I know its abnormal for this pool, but running for a week without a block (I know we got one that went stale) is not good, thats why all the big guys left I assume.

I'm only a 110ths miner but I need some kind of a return.

Million dollar question is how long do you stick it out? As good/ethical of a guy kano is, I still need to pay my power bills.

[kano]

Out of curiosity, when our block takes 74 hours, does that mean the transactions we are processing have not had a single confirmation for that many hours?  Or does the bitcoin network system have all pools grab a new set of transactions once a block is found on the network?  

It not 'our' block until we find a block and keep it

What mining is, is simply hashing a set of data (work) and hoping it gets a value in the range we want.
That work of course (usually) includes a set of transactions.

Mining is a bit like rolling 2 dice and wanting snake eyes (1 + 1)
With dice it's expected to happen, on average, once every 36 rolls.
With Bitcoin, at the current difficulty of D=1,452,839,779,145.919 it expected to happen, on average, once every D*2^32 hashes = once every ~6.23x10^21 hashes.
Sometimes more often, sometimes less often, but it should average that over time.
But it's simply just random for everyone.

As for transactions, all transactions are distributed over the network to (mostly) all bitcoin nodes on the network.
Each pool generates work (usually) with the best combination of the available transactions to get the most fees in their work.
Some may have different rules about what they think is the best, and different rules about what they will include.

When one pool finds a block, the transactions confirmed in that block are of course no longer available to be used in any future blocks.
We all then start with the next best available transactions after the ones used up and of course add on any new transactions that appear, and continue on randomly getting hashes.

FYI the pool sends out new work to all the miners every 30 seconds, which of course includes all the better available transaction that have come available in the past 30 seconds.
And, as mentioned above, the pool also sends out new work each time someone on the bitcoin network finds a block, excluding all those transactions that were confirmed by that block.

[realhayesreal]

Getting the cow ready for sacrifice!  Fuck........

[minergain.com]

even with getting paid out on transactions, when we are getting this far behind even 100% variance, and the price getting as high as it is, this leaves alot of money on the table. If other mines are hitting 100% vs where we are at this month, thats alot of money left on the table.

I ran some approximate BTC per Day per TH numbers.  I will be gathering more accurate details over the coming months since I will be storing 15 minute hash rates for pools we monitor.

For KanoPool.  
August was .000276 with 48 blocks (81Ph)
Sept was .000264 with 47 blocks (84Ph)
Oct was .000158 with 35 blocks (102Ph)

My backup (and what I originally started with) is slush.  I have averaged out details for them:
.000225 for August with 241 blocks and a rough average of 350Ph
.000255 for September with 273 blocks and a rough average of 500Ph
.000235 for October with 327 blocks and a rough average of 650Ph

So as you can see, things vary wildly and generally Kano is higher.  Obviously we have hit a bit of a downturn here, but I am confident that it will turn the other way after averaging a few months out.  Of course there are never guarantees, but my feeling is that anyone who has already ridden out the downturn for October would be missing the turnaround boat by leaving.  Kano has had 5 blocks in a day before with similar hash rates, so when the luck turns, we could be exceeding .0005 BTC per day per Th for a fair stretch.  It's all a waiting game and miners need to remember to go for the long game.

[PeaMine]

Even with October's bad luck variance, it was still no match for the good luck variance during April.
Here is to hoping November is the new April.

[Dak1]

What was up with the Blockmines phantom Hash Rates on the site about 10 minutes ago? Was hoping he was coming back.

[mdude77]

even with getting paid out on transactions, when we are getting this far behind even 100% variance, and the price getting as high as it is, this leaves alot of money on the table. If other mines are hitting 100% vs where we are at this month, thats alot of money left on the table.

I ran some approximate BTC per Day per TH numbers.  I will be gathering more accurate details over the coming months since I will be storing 15 minute hash rates for pools we monitor.

For KanoPool.  
August was .000276 with 48 blocks (81Ph)
Sept was .000264 with 47 blocks (84Ph)
Oct was .000158 with 35 blocks (102Ph)

My backup (and what I originally started with) is slush.  I have averaged out details for them:
.000225 for August with 241 blocks and a rough average of 350Ph
.000255 for September with 273 blocks and a rough average of 500Ph
.000235 for October with 327 blocks and a rough average of 650Ph

So as you can see, things vary wildly and generally Kano is higher.  Obviously we have hit a bit of a downturn here, but I am confident that it will turn the other way after averaging a few months out.  Of course there are never guarantees, but my feeling is that anyone who has already ridden out the downturn for October would be missing the turnaround boat by leaving.  Kano has had 5 blocks in a day before with similar hash rates, so when the luck turns, we could be exceeding .0005 BTC per day per Th for a fair stretch.  It's all a waiting game and miners need to remember to go for the long game.

Thanks for the comparison figures.

There are two things that I think are worth pointing out, that I'm sure you know:

1 - Prior results have no impact on future results.  Just because there is a huge "bad luck" spell doesn't mean it's "likely" to change soon.
2 - The "long game" is fair luck wise if difficulty stops increasing.

M

[rifleman74]

What was up with the Blockmines phantom Hash Rates on the site about 10 minutes ago? Was hoping he was coming back.

Maybe defaulted back to #2 or #3 on their pool list? 

[minergain.com]

There are two things that I think are worth pointing out, that I'm sure you know:

1 - Prior results have no impact on future results.  Just because there is a huge "bad luck" spell doesn't mean it's "likely" to change soon.
2 - The "long game" is fair luck wise if difficulty stops increasing.

So I knew the first one for sure - the past is the past and like slot machines, makes you think something will hit but really has no bearing on it.  My wife has repeatedly told me that this is a lot closer to gambling than investing.  As for point 2, I guess I like to put blinders on and "wish" for the best.  As even my numbers show, the higher the difficulty goes, the less BTC everyone is making (fortunately similar dollars - tether) plus there is less ability to leverage the up and down of the market.  And the difficulty increases continue to be crazy as these prices go bonkers!  When I got into crypto a few months ago, I was worried about buying BTC at $3,300..  Seems pretty ok today.

[Minty_Andy]

I know this may not be the best place to ask, but this is the only thread i am actually engaged with on this forum.

---> Where is the best place to buy a S9?

Im not going to buy one on ebay for the rediculous overcharge, as im not in a hurry to receive it.

-Andy

[wavelengthsf]

I know this may not be the best place to ask, but this is the only thread i am actually engaged with on this forum.

---> Where is the best place to buy a S9?

Im not going to buy one on ebay for the rediculous overcharge, as im not in a hurry to receive it.

-Andy

Shop.bitmain.com is the best place, when they're in stock of course. If you're not in a rush, you can get it there. I've also bought one from Eastshore.xyz, and it arrived as promised.

[rifleman74]

I know this may not be the best place to ask, but this is the only thread i am actually engaged with on this forum.

---> Where is the best place to buy a S9?

Im not going to buy one on ebay for the rediculous overcharge, as im not in a hurry to receive it.

-Andy

If you don't want to overpay for it, then Bitmain is your answer...in BCC terms of course.

[VRobb]

I know this may not be the best place to ask, but this is the only thread i am actually engaged with on this forum.

---> Where is the best place to buy a S9?

Im not going to buy one on ebay for the rediculous overcharge, as im not in a hurry to receive it.

-Andy

I, and perhaps some others, will PM you shortly.

[matscol]

the real problem with this run of luck - now effectively over 350% for the current block soon after the two monsters - is that as a business right now the only way to run is to reinvest profits in additional equipment, as that's what everyone else is doing, driving the difficulty increases (and, one would think, the price appreciation). When there are no profits (or significantly reduced ones) to reinvest, you lose ground to the pack.

Side note - this cycle: price goes up, everyone re/invests, difficulty increases, repeat, is extremely worrying and at some point really does begin to look ponzi-like.

[VRobb]

Not Ponzi, you are describing the Network Effect.

[matscol]

network effect assumes usage for something other than trading/buying more mining equipment. has there really been enough of an increase in non-mining/trading related transactions to justify the 10x price move?

[Minty_Andy]

Power cables on my S7 melted/burnt and i think it killed two of the blades...

Still tryng to figure out how/why, but it may have something to do with the tree that fell on the neighbors powerlines the other day.

[minergain.com]

network effect assumes usage for something other than trading/buying more mining equipment. has there really been enough of an increase in non-mining/trading related transactions to justify the 10x price move?

my feeling is that it is the hype of it all by the news media introducing more common tire kicker / investor newcomers - myself included.  And yes, it seems that a huge part of the difficulty increases is all this "doubling down" of mining equipment - which because of the massive interest has driven hardware costs up.  I have bought a couple things with crypto - but all mining related.  I am also mining ETH, and cards and power supplies are more than double what they were a year ago.  I am tracking the backlog of BTC transactions, and I think that BTC may not be able to support direct mainstream consumer purchases.  I suppose there are other coins or mediums like the debit card that can consolidate small transactions for a substantial percentage fee.