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Author Topic: [~200PH] KanoPool kano.is 0.9% fee 6.3 BTC giveaway 🐈 US,UK,JP,NYA,DE,SG  (Read 5168915 times)
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SmurfBerry
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April 15, 2018, 09:57:39 AM
 #39501

183% let's hope it's not a 600% buster!

Where can you check this?

Also what does it mean  Grin
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kano
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April 15, 2018, 10:12:21 AM
 #39502

183% let's hope it's not a 600% buster!

Where can you check this?

Also what does it mean  Grin
Top left of every web page - "Shares:"
Though most people don't understand what the % means and what to expect.
So every so often I post this:

Here's the CDF table showing the expected probabilities of finding blocks for each % or longer:
Code:
0.39346934028737   50.000%  1 in 1.6
 0.63212055882856  100.000%  1 in 2.7
 0.77686983985157  150.000%  1 in 4.5
 0.86466471676339  200.000%  1 in 7.4
 0.95021293163214  300.000%  1 in 20.1
 0.98168436111127  400.000%  1 in 54.6
 0.99326205300091  500.000%  1 in 148.4
 0.99752124782333  600.000%  1 in 403.4
 0.99872735771441  666.666%  1 in 785.8
 0.99908811803445  700.000%  1 in 1096.6
 0.99966453737210  800.000%  1 in 2981.0
 0.99987659019591  900.000%  1 in 8103.1
The point of these numbers is to show how often, on average, ALL pools expect a block.

So for example above, 1 in 7.4 blocks is expected, on average, over a large sample, to be over  200%
and 1 in 20.1 blocks is expected, on average, over a large sample, to be over 300% ... etc.

This CDF table also applies, of course, to the Bitcoin network itself.
e.g. a 600% network block is a 1 hour network block.
So on average, over a large sample, we expect 1 in 403.4 network blocks to be 1 hour or more.
i.e. so if blocks average 10 minutes, then if you check the history of blocks, you should find, on average, about 1 every 403.4/144 days or about one every 2.8 days, a network block over an hour.

This also shows another interesting thing about mining Smiley

If you solo mine, you have a 1 in 2.7 chance of losing money on the first block you find.
If you mine on a medium or large pool, then you'd expect to get around 100% PPS or more.
If you mine solo, then you expect, 1 in 2.7 blocks you find to be over 100%, so you'd get less reward, though solo pools seem to expect fees and tips to make the expected loss higher.
... and of course all positive diff changes between now and when you find that first block will make that worse again.

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!
BSGMiner
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April 15, 2018, 12:33:24 PM
 #39503

183% let's hope it's not a 600% buster!
Where can you check this?

Also what does it mean  Grin
Top left of every web page - "Shares:"
Though most people don't understand what the % means and what to expect.
So every so often I post this...
Thanks for talkin' us down off the ledge, Kano!

The best ~200PH BTC mining pool (<1% fee): KanoPool (https://kano.is)
***No lost work during the 5Nd PPLNS payout ramp-up***
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April 15, 2018, 03:06:33 PM
 #39504

Anyone have any $220 Bitmain coupons they don't plan on using or selling?
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April 15, 2018, 03:28:23 PM
 #39505

183% let's hope it's not a 600% buster!

Where can you check this?

Also what does it mean  Grin
Yep, that's what I would like to know, too...
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April 15, 2018, 03:31:19 PM
 #39506

183% let's hope it's not a 600% buster!

Where can you check this?

Also what does it mean  Grin
Yep, that's what I would like to know, too...

Kano explained it literally 4 posts before yours... https://bitcointalk.org/index.php?topic=789369.msg34742704#msg34742704

Mining on Kano Pool with 10 x S9 | 11 x GTX1070 | 10 x 1050Ti | 1 x L3+
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April 15, 2018, 04:11:24 PM
 #39507

Kano, what is the status on setting a minimum payout threshold?

I want to come back, but paying the fees for all those small transactions add up fast. Having a payout minimum setting would help the miners out a lot
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April 15, 2018, 04:15:31 PM
 #39508

Anyone have any $220 Bitmain coupons they don't plan on using or selling?


This guy, rdalley(link to profile below), had some last week he was going to send me, but he never did. You could try sending him a pm. I already picked up a couple more miners, as I couldn't wait, so I will not need the coupons now. Goodluck!!!


https://bitcointalk.org/index.php?action=profile;u=2003638


Also, C'mon Block!!!

Click these links to learn some truth about Big Corporate mining pools stealing your money and centralizing BTCitcoin!!!
Help support the BTCitcoin community!!! Mine your BTCitcoin at a non-Corporate pool!!! BTC: 1ShazamjsPnpWDNnk3n2tAiKGMdXaSjay
I mine BTCitcoin at a non-Corporate pool with no hidden fees, no empty BTClocks: Kano Pool   ■ get Kano Pool signature banners here ■
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April 15, 2018, 04:25:13 PM
 #39509

Kano, what is the status on setting a minimum payout threshold?

I want to come back, but paying the fees for all those small transactions add up fast. Having a payout minimum setting would help the miners out a lot

Consolidating a bunch of small transactions into one large transaction is simple and cheap these days.

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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April 15, 2018, 04:33:57 PM
 #39510

Kano, what is the status on setting a minimum payout threshold?

I want to come back, but paying the fees for all those small transactions add up fast. Having a payout minimum setting would help the miners out a lot

Consolidating a bunch of small transactions into one large transaction is simple and cheap these days.


Was just going through my trezor wallet mining payments. I had my pool settings for .01 payouts, and have been paying an average of .002-.003 per payout. Multiply this by smaller, more often payouts from kano pool and this will be very significant. These are client side(yes you don't pay for the tx on the mining end but you do on the wallet side, and unavoidable as far as I know of.
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April 15, 2018, 04:38:51 PM
 #39511

Kano, what is the status on setting a minimum payout threshold?

I want to come back, but paying the fees for all those small transactions add up fast. Having a payout minimum setting would help the miners out a lot

Consolidating a bunch of small transactions into one large transaction is simple and cheap these days.


Was just going through my trezor wallet mining payments. I had my pool settings for .01 payouts, and have been paying an average of .002-.003 per payout. Multiply this by smaller, more often payouts from kano pool and this will be very significant. These are client side(yes you don't pay for the tx on the mining end but you do on the wallet side, and unavoidable as far as I know of.

You only pay to send BTC...and right now, if you're paying more than 1 sat/byte you're doing it wrong.

Where are paying this .002-.003 to? Wallets just store your private key there's no "banking fee" as it were...

Mining on Kano Pool with 10 x S9 | 11 x GTX1070 | 10 x 1050Ti | 1 x L3+
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April 15, 2018, 04:45:22 PM
 #39512

Kano, what is the status on setting a minimum payout threshold?

I want to come back, but paying the fees for all those small transactions add up fast. Having a payout minimum setting would help the miners out a lot

Consolidating a bunch of small transactions into one large transaction is simple and cheap these days.


Was just going through my trezor wallet mining payments. I had my pool settings for .01 payouts, and have been paying an average of .002-.003 per payout. Multiply this by smaller, more often payouts from kano pool and this will be very significant. These are client side(yes you don't pay for the tx on the mining end but you do on the wallet side, and unavoidable as far as I know of.

You are significantly overpaying. Assuming you are using nested Segwit, with 1 input and 2 outputs, that's a 180 byte transaction. A 0.002BTC fee is 1111 satoshis/byte, or 1111 times more than you need to pay to get into the next block. As of right now, there's less than half a megabyte worth of transactions sitting in the mempool right now:



I sent this transaction 2 weeks ago from my Trezor with 4 inputs (4 inputs = 4 mining payments) paying 4 sat/byte or 1300 satoshis in fees.

For proper fee calculation, go to this link: https://jochen-hoenicke.de/queue/#1,2h
Scroll down to the Mempool Size in MB graph, and go to the value at the very right. Find the lowest sat/byte with less than 1 MB worth to pretty much get into the next block guaranteed.

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April 15, 2018, 04:51:23 PM
 #39513

https://imgur.com/gallery/40124?s=sms


Granted i'm very green still to the mining side. If you're correct, then what exactly is this? Seems a lot like a "banking" style fee. Would appreciate figuring out if i'm just dumb, or something is going on.
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April 15, 2018, 04:54:59 PM
 #39514

https://imgur.com/gallery/40124?s=sms


Granted i'm very green still to the mining side. If you're correct, then what exactly is this? Seems a lot like a "banking" style fee. Would appreciate figuring out if i'm just dumb, or something is going on.

I believe that is the fee paid by Kano to send the payout transaction. He pays a comparably high fee because of the very large number of outputs.
This is paid out of his own fee (99% sure anyway) and does not affect you.

This was the last transaction sent by him, which pays a 0.00042000 fee, which is similar to the fee amounts you have in your screenshot. Mind linking to the specific transactions?

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April 15, 2018, 05:27:40 PM
 #39515

https://imgur.com/gallery/40124?s=sms


Granted i'm very green still to the mining side. If you're correct, then what exactly is this? Seems a lot like a "banking" style fee. Would appreciate figuring out if i'm just dumb, or something is going on.


You must be on the wrong wallet or something, transaction fees are next to nothing.  For all of March's payments, I paid a grand total of 35 cents to combine all 20 inputs.   That's nothing.
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April 15, 2018, 05:29:06 PM
 #39516

https://imgur.com/gallery/40124?s=sms


Granted i'm very green still to the mining side. If you're correct, then what exactly is this? Seems a lot like a "banking" style fee. Would appreciate figuring out if i'm just dumb, or something is going on.

I believe that is the fee paid by Kano to send the payout transaction. He pays a comparably high fee because of the very large number of outputs.
This is paid out of his own fee (99% sure anyway) and does not affect you.

This was the last transaction sent by him, which pays a 0.00042000 fee, which is similar to the fee amounts you have in your screenshot. Mind linking to the specific transactions?

Kano's fee is tiny, it normally wasn't picked up when block fees were much higher.   But now with blocks accepting 99.99% of fees, Kano's small token fee gets picked up and our blocks fees are sent out and included now, no waiting for out next block anymore.


MINE ON WITH KANO-SAN!
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April 15, 2018, 06:41:41 PM
 #39517

Hard times, without finding a block it's even harder to stay at Kano for me - even when you get much more % share of a block compared to slush for example, if there's no block withing 80 hrs now it might be better to switch back to another pool?
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April 15, 2018, 06:59:06 PM
 #39518

Hard times, without finding a block it's even harder to stay at Kano for me - even when you get much more % share of a block compared to slush for example, if there's no block withing 80 hrs now it might be better to switch back to another pool?
Look back on this thread (yeah, I know...the Black Lagoon of info...makes one learn to use the search function) to my post as to when I was forced to go back to Slush a couple of months ago due to my own poor Core management. Anyway...after almost five weeks mining on Slush (which did solve my temporary problem), I compared my revenue for that period to what it would have been at Kano with the same hash, at 5Nd...and I would have earned over 30% more here. FWIW...I mined at Slush for the first year or two of pool (as opposed to solo) mining, until Kano started his pool.

If you need a payout "threshold" or daily payouts, and don't care about transparency, then go to Slush. If you want to make more over the long haul with a pool operator who is transparent, stay here. If you can't afford to handle the variance here, well...with all good intentions...maybe you should look for another hobby.

Best to all.  Kiss

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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April 15, 2018, 06:59:27 PM
 #39519

Hard times, without finding a block it's even harder to stay at Kano for me - even when you get much more % share of a block compared to slush for example, if there's no block withing 80 hrs now it might be better to switch back to another pool?

You've got to do what you think is best. You've also got to take the good with the bad, this is the nature of Bitcoin mining.
Before you bounce though, look back through the thread and see how many people came back here, regretting how they left
during a hard spot. Goodluck!!!

Click these links to learn some truth about Big Corporate mining pools stealing your money and centralizing BTCitcoin!!!
Help support the BTCitcoin community!!! Mine your BTCitcoin at a non-Corporate pool!!! BTC: 1ShazamjsPnpWDNnk3n2tAiKGMdXaSjay
I mine BTCitcoin at a non-Corporate pool with no hidden fees, no empty BTClocks: Kano Pool   ■ get Kano Pool signature banners here ■
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April 15, 2018, 07:06:42 PM
 #39520

No. You can now send a transaction with a tiny fee coz blocks are rarely full.
See here for an idea of the fees: https://btc.com/
It will be reasonable low now, but if your wallet does not allow customization of the fee, it still may be a bit higher.  I use the bitcoin core wallet where you can pick the transactions to send, set the threshold to the minimum (especially these times) and set the ability to change your fee after the fact - in case you set it too low and have waited weeks already.

www.minergain.com - Free miner equipment tracking and reporting
Mike is a tiny miner: 3 S9, 1 D3, 6 RX470
I mine at Kano Pool, for better BTC Profits!
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