KanoPool since 2014 🐈 - PPLNS and Solo 0.5% fee - Worldwide - 2435 blocks

[kano]

Why is the Mem Pool slammed. Is it because only 5% of the BTC Network is signaling for SEGWIT?

The whole network has enabled SegWit.

SegWit is a lie.
It's not a block size solution - core knew that - but they lied about it to get their agenda.
SegWit is, as it's name specifically states - a bug fix for their fuck up of P2SH - segregating the witness data from the transaction hash data to avoid a malleability issue that in truth is not really a big deal at all, only a problem for sites that can't code their transaction processing in a safe manner.
That's the reason it exists.
There are other side effects, but that's the name of the change and the reason it exists.

Why do you think 2x never happened? Coz core decided that their central control shouldn't allow it.
2x is a block size solution - double the block size.
Not the BEST block size solution, but better than the SegWit scam.
The current problems WOULD NOT EXIST if the network was using twice the block size.

IMO the best block size solution was BIP100 - but that was never going to be implemented because the size was controlled by voting with mining power - not controlled by core - so they would never accept that option - they want to keep their central control of bitcoin.

Part of SegWit increased the cost of transactions with addresses that start with a '1'
Now one of the reason why transactions are still slow under segwit is that you have to transfer ALL your bitcoin to P2SH addresses ('3' addresses) to get the pre-segwit cost of transactions.
All addresses that start with '1' now cost 4 times as much to process with corecoin bitcoind.

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[Waztim]

Last 24 hrs?
No blocks = no rewards.

Last payout:
https://bitcointalk.org/index.php?topic=789369.msg26690636#msg26690636

jiizzz ! They don't give me enough infos before renting, damn !

OK, would you give me a good strategy about mining duration? How much time have I to mine for interesting payout?

Last renting 24h solution burn me 30$US for 7.8TH/s, the goal may be to test wich device is most efficient before to buy it.

Any opinion, please?

Honestly, renting Hash rate is not a solution, especially on this pool, since $30 times 30 days is 900 dollars. Approximately 17 days to get full share for shares provided to the pool at 7.8TH. It truly is a gamble since we may hit 20 blocks or 5 in those 30 days and subsequent Ramp Down within the Payout period for the Shares you provided. You would be much better off just buying a Used miner like a S7 or Avalon 741 if you can get one and mine consistently over time. That way, while there is variance in when the pool hits a block, once you have your 5 times difficulty into the pool at your Hash Rate, you are going to get the maximum possible payout per block. That is all I got for you. Good Luck. If you want to compute possible Return on Investment, go here. http://tradebtc.net/bitcalc.php  I can tell you already that it doesn't look good for 7.8 TH/s. You would need a lot of luck.

[mdude77]

Last 24 hrs?
No blocks = no rewards.

Last payout:
https://bitcointalk.org/index.php?topic=789369.msg26690636#msg26690636

jiizzz ! They don't give me enough infos before renting, damn !

OK, would you give me a good strategy about mining duration? How much time have I to mine for interesting payout?

Last renting 24h solution burn me 30$US for 7.8TH/s, the goal may be to test wich device is most efficient before to buy it.

Any opinion, please?

Renting here would be rough.  It'll take ~15 days to reach full payout for any block that is found.

M

[kano]

Last 24 hrs?
No blocks = no rewards.

Last payout:
https://bitcointalk.org/index.php?topic=789369.msg26690636#msg26690636

jiizzz ! They don't give me enough infos before renting, damn !

OK, would you give me a good strategy about mining duration? How much time have I to mine for interesting payout?

Last renting 24h solution burn me 30$US for 7.8TH/s, the goal may be to test wich device is most efficient before to buy it.

Any opinion, please?

Renting here would be rough.  It'll take ~15 days to reach full payout for any block that is found.

M

Well renting anywhere is not a solution
When we were 200PHs at the end of October, the largest miner (and I) rented a total of approx 100PHs from Nice hash.
I lost 50% (1.5 BTC) he lost a very large amount more.

Why? Coz the blocks found during that rental period (last 2 weeks of October) were the worst luck of all time on the pool (probably worse than any other pool in recorded history - but only for that short period of time)
Why? Well either it was just bad luck, or there was a problem with the rental (nicehash) they were more than 50% of the pool.
The statistics available are not large enough to determine which is the case, but they were very close to being unlikely to be just bad luck.

I recently checked the prices on MRR and they were WAY above the best expected mining return you could ever consider.

[Waztim]

"Part of SegWit increased the cost of transactions with addresses that start with a '1'
Now one of the reason why transactions are still slow under segwit is that you have to transfer ALL your bitcoin to P2SH addresses ('3' addresses) to get the pre-segwit cost of transactions.
All addresses that start with '1' now cost 4 times as much to process with corecoin bitcoind."

Kano - So maybe Roger Ver was right when he said that BCash was the only way to fix the problem. But that was predominantly driven by the Antpoo BiteMe group. Hmmm.

Will Lightning Network solve the high transaction fee problems. Once the Block gets confirmed and in the chain, couldn't you use Lightning to send out the rewards and avoid the high fees? It would require "trust" but is that the future for Pool Operators who are conscious of costs?

Anyway... Interesting and good perspective. Thanks for the ground truth, lots of crap out there, that was the best explanation I have heard yet.

MINE ON WITH KANO-SAN, oh thats you. So MINE ON!! Thanks for a great pool and unquestionable SME knowledge.  

[ctr200hp]

Honestly, renting Hash rate is not a solution, especially on this pool, since $30 times 30 days is 900 dollars. Approximately 17 days to get full share for shares provided to the pool at 7.8TH. It truly is a gamble since we may hit 20 blocks or 5 in those 30 days and subsequent Ramp Down within the Payout period for the Shares you provided. You would be much better off just buying a Used miner like a S7 or Avalon 741 if you can get one and mine consistently over time. That way, while there is variance in when the pool hit a block, once you have your 5 times difficulty into the pool at your Hash Rate, you are going to get the maximum possible payout per block. That is all I got for you. Good Luck. If you ant to compute possible Return on Investment, go here. http://tradebtc.net/bitcalc.php

Thank you verry much, it sound pretty good. Actually the most problem about cryptocurrencies is a lot of people making money with misunderstanding and unknowledge of newbies. It's very hard to avoid bad plans. It seem here there are trusted involved members.

Next step: find great device to mine, then ...  I WILL BACK ... 

[Waztim]

Ok, get your feet wet and see how it goes. Come back, you could end up being a whale one day, but right now, me included, we are just minnows in a big pond full of predators.

[SergES]

It will not get anywhere? Sorry for my english.
497605   1Gic6xCu8vTMwHYWhFowaztXAfR9fR7ra       0.00009081   *
497299   1Gic6xCu8vTMwHYWhFowaztXAfR9fR7ra       0.00001986   *
little thing, but....

[fjtropepe]

I have never received a quote for renting mining power. I have wondered though if that is something that would be lucrative if we, as a pool, came together and invested in. In other words, if the cost was shared the members wouldn't it be worth the investment? Obviously, a short-term investment would be a gamble. I am talking over a few months.

[SergES]

Why is the Mem Pool slammed. Is it because only 5% of the BTC Network is signaling for SEGWIT?

The whole network has enabled SegWit.

SegWit is a lie.

I agree with this, and not only me.

[kano]

It will not get anywhere? Sorry for my english.
497605   1Gic6xCu8vTMwHYWhFowaztXAfR9fR7ra       0.00009081   *
497299   1Gic6xCu8vTMwHYWhFowaztXAfR9fR7ra       0.00001986   *
little thing, but....

https://bitcointalk.org/index.php?topic=789369.msg26519684#msg26519684

[chrisyung]

Sorry, I saw this payment record yesterday
Block   Address   Status   BTC   
500096   36WdogbRZtcrgsCF2umFmXTnCxj5HLNpQ2       0.00528800   

but when I check the balance here https://bitref.com/36WdogbRZtcrgsCF2umFmXTnCxj5HLNpQ2
The 0.0052 transaction did not show up til now, anything goes wrong?

[kano]

Sorry, I saw this payment record yesterday
Block   Address   Status   BTC   
500096   36WdogbRZtcrgsCF2umFmXTnCxj5HLNpQ2       0.00528800   

but when I check the balance here https://bitref.com/36WdogbRZtcrgsCF2umFmXTnCxj5HLNpQ2
The 0.0052 transaction did not show up til now, anything goes wrong?

That's how bitcoin works, until a transaction is confirmed in a block, you aint got it.
https://bitcointalk.org/index.php?topic=789369.msg26690636#msg26690636

[2tights]

Why is the Mem Pool slammed. Is it because only 5% of the BTC Network is signaling for SEGWIT?

The whole network has enabled SegWit.

SegWit is a lie.

I agree with this, and not only me.

As far as I understand it, segwit will enable the lightning network to function. Bitcoin is all about enduring solutions to problems, not temporary ones link increasing block size. As Andreas says, if you make a 2mb block we'll fill it. If you make a 4x block, we'll fill it. Block size isn't the problem as much as total throughput. If I'm not mistaken, LN will enable tens of millions of transactions per second.

[SergES]

the question is closed patience in explanations is surprising

[kano]

Why is the Mem Pool slammed. Is it because only 5% of the BTC Network is signaling for SEGWIT?

The whole network has enabled SegWit.

SegWit is a lie.

I agree with this, and not only me.

As far as I understand it, segwit will enable the lightning network to function. Bitcoin is all about enduring solutions to problems, not temporary ones link increasing block size. As Andreas says, if you make a 2mb block we'll fill it. If you make a 4x block, we'll fill it. Block size isn't the problem as much as total throughput. If I'm not mistaken, LN will enable tens of millions of transactions per second.

Lightning moves transaction out of bitcoin ... so yeah if you want to destroy mining so that only the miner manufacturers could possibly mine ... go with that core controlled centralisation of bitcoin transactions

https://bitcointalk.org/index.php?topic=789369.msg15376326#msg15376326
Edit: forum doesn't work on that link so this link is the post above it:
https://bitcointalk.org/index.php?topic=789369.msg15376271#msg15376271

https://bitcointalk.org/index.php?topic=789369.msg16868494#msg16868494
Edit2: forum doesn't work on that link so this link is the post above it:
https://bitcointalk.org/index.php?topic=789369.msg16866584#msg16866584

Meh forum ...

[VRobb]

Indeed, NO ONE who's a bitcoin miner should want to see segshit actually implemented, or you want someone else to take some of the txn fees while YOU mine.
Not me, nor The Man who runs this pool!!  

[Waztim]

Indeed, NO ONE who's a bitcoin miner should want to see segshit actually implemented, or you want someone else to take some of the txn fees while YOU mine.
Not me, nor The Man who runs this pool!!  

Agreed, just looking at the possible solutions. MINE ON!! We are over 50%, every hour increases our chances of finding that next block. Come on Luck!!

[mdude77]

Agreed, just looking at the possible solutions. MINE ON!! We are over 50%, every hour increases our chances of finding that next block. Come on Luck!!

WRONG!!

There is nothing relating to prior hashing that impacts the likelihood of the next second, minute, hour, day, week, and so on, finding a block.  (aside from difficulty changes.).

It's like flipping a coin 1,000,000 times and getting a heads every time.  The odds of getting a heads next flip is still 50%, just like the 999,999th time.

M

[AerialGopher]

Agreed, just looking at the possible solutions. MINE ON!! We are over 50%, every hour increases our chances of finding that next block. Come on Luck!!

WRONG!!

There is nothing relating to prior hashing that impacts the likelihood of the next second, minute, hour, day, week, and so on, finding a block.  (aside from difficulty changes.).

It's like flipping a coin 1,000,000 times and getting a heads every time.  The odds of getting a heads next flip is still 50%, just like the 999,999th time.

M

Not true.  After 1 million coin flips, the dirt and oils from your hand will affect the aerodynamics of the coin, thus affecting the 50/50 of the possible result.