KanoPool since 2014 🐈 - PPLNS and Solo 0.5% fee - Worldwide - 2437 blocks

[HannRa]

Hey guys, a bit of an semi off topic question...

A single S9 probably would not make sense. Keep your mind free of the hassle. For a Bitcoin mining business, 10x S9's or equivalent is absolute worthwhile minimum, unless it's just a hobby. As general advice, you should go with Ethereum mining instead. As Ethereum mining has been more profitable than Bitcoin mining for 4 consecutive months in a row, it just makes more sense as an investment opportunity for virtually anyone who gets started with crypto mining today, or is at a point of having to replace legacy hardware. I'm getting my own feet wet in Ether mining just this week.

In regards to S7's, I know an investor in wind turbine farm business. He bulk buys S7's on second hand market for peanuts, and then feeds the excess electricity into S7s when production significantly exceeds demand. He says its "much better than selling it back to grid". Your observation is correct, for mining all year around, their worthiness is questionable to say the least. At the end of their life cycle. Perhaps scrap metal for good in 12-18 months.

And then there are other interesting and worthwhile hybrid mining business models where older units or low quantity of miners could make fiscal sense. I don't know much about such hybrid models, but there are now a number of booze makers who find valuable use for the heat generated by crypto miners. Ref: https://news.bitcoin.com/south-florida-distillers-bitcoin/

[oawan]

Hi kano. What is it with the Orphan block against Slush? Can you please explain? Thanks!

Yet it would seem that all the well known sites saw slush's block before our block.

Is there any possibility for foul play here?  I.E. the top 6-10 pools have agreements that they will prioritize eachothers blocks over other pools if found within x seconds or something?  Since it's really up to the next pool who finds a block to decide?

Looking here:
https://blockchain.info/orphaned-blocks

according to them ours was 3 seconds earlier, but I've noticed some are quite a bit more... I.E. 471114 which was 25 seconds apart (according to blockchain) and the later block won.  

[kano]

Well conspiracy theories aren't much use without actual proof - that's why they are called conspiracy theories
Yes it's possible that there's a cartel of pools ... possible, but not likely.
The only real cartel is Bitmain coz they run a few pools .......

Of course the fun point to know is that it was me who instigated getting core to add a usable interface to switching blocks ...
My point about it was if there ever was another fork caused by the SPV mining used on all pools in china ...
It would seem that -ck liked the idea about overriding the block that arrived first by coding that into ckpool recently ...

My request:
https://github.com/bitcoin/bitcoin/issues/6995
Sipa's implementation:
https://github.com/bitcoin/bitcoin/pull/6996

-ck's commit to 'always' use it:
https://bitbucket.org/ckolivas/ckpool/commits/8a66c4811bf3ccd247c4eb7fe1cba991c9761cae

[HannRa]

Is there any possibility for foul play here?  I.E. the top 6-10 pools have agreements that...

No. As you can see at the same link, 466705 by Kano pool on 2017‑05‑16 is a full 40 seconds later than Bixin propagated to blockchain.info but we won the orphan race regardless. This can be possible due to an unfavorable circumstance within a single BGP ASN area. Imagine a broken sea cable, and a small backup line which gets fully congested and lacks throughput during peak hours. Furthermore, complete outages of 15-30 seconds between two big ASNs always occur, a simple BGP routing issue somewhere in the Internet does suffice. No broken cables or devices required.

[bronder]

Hey guys, a bit of an semi off topic question, but i'm mining with 2 S7's. My electricity is almost free.
Since the last diff increase and seeing the BTC profits halve every 3 months i'm actually thinking of quitting mining.
As getting a S9 doesn't seem to be a great ROI either.

Just selling the miners and hodling that in BTC seems to be more profitable in the long run than keeping them on.
Anybody else feels the same? Or am i just having a bit of fud?.

If your electricity is free, why stop mining? you already paid for the S7's. I have S5,S4 and S7 mining and still get some btc, not a lot but with "almost free electricity" it's hard to find a reason not to power them up.

Besides there are other ways to make money with your S7s. Selling them is but one option. msg me privately if you want more ideas.

[firetreeactual]

Hey guys, a bit of an semi off topic question, but i'm mining with 2 S7's. My electricity is almost free.
Since the last diff increase and seeing the BTC profits halve every 3 months i'm actually thinking of quitting mining.
As getting a S9 doesn't seem to be a great ROI either.

Just selling the miners and hodling that in BTC seems to be more profitable in the long run than keeping them on.
Anybody else feels the same? Or am i just having a bit of fud?.

If your electricity is free, why stop mining? you already paid for the S7's. I have S5,S4 and S7 mining and still get some btc, not a lot but with "almost free electricity" it's hard to find a reason not to power them up.

Besides there are other ways to make money with your S7s. Selling them is but one option. msg me privately if you want more ideas.

I'm not quite understanding, either...I've got three S7s in Labrador that are profitable, and I'm paying hosting. I've got another two machines at home, Avalons, where the juice is free.

[kano]

Is there any possibility for foul play here?  I.E. the top 6-10 pools have agreements that...

No. As you can see at the same link, 466705 by Kano pool on 2017‑05‑16 is a full 40 seconds later than Bixin propagated to blockchain.info but we won the orphan race regardless. This can be possible due to an unfavorable circumstance within a single BGP ASN area. Imagine a broken sea cable, and a small backup line which gets fully congested and lacks throughput during peak hours. Furthermore, complete outages of 15-30 seconds between two big ASNs always occur, a simple BGP routing issue somewhere in the Internet does suffice. No broken cables or devices required.

The catch there is that the times shown by many sites is the timestamp in the block header.
That timestamp is not when the block was found, or even when the web site first saw it.

It's up to the pool to decide what to put there, then it sends the work to the miner, who may later find a block, and here that will be some time in the 30 seconds after the work was sent to the miner, with an already 'locked in' timestamp.

[NomadGroup]

Hey guys, a bit of an semi off topic question, but i'm mining with 2 S7's. My electricity is almost free.
Since the last diff increase and seeing the BTC profits halve every 3 months i'm actually thinking of quitting mining.
As getting a S9 doesn't seem to be a great ROI either.

Just selling the miners and hodling that in BTC seems to be more profitable in the long run than keeping them on.
Anybody else feels the same? Or am i just having a bit of fud?.

If your electricity is almost free I would recommend you getting a credit from a bank ( if you don't have the funds) and bumping it up to at least 100th and start making some money here at Kano!!!

[HannRa]

The catch there is that the times shown...

Was unaware. Wow. So out of sync node clock is yet another dirty contribution. Waters are already muddied enough by Internet infra and BGP issues. Although... I guess that block timestamp issue can be fixed with a central Bitcoin NTP server /s

[PPOC]

Related kinda to this pool, I sent a mining reward consolidation transaction manually to a different wallet and obviously calculated the fee to low. Its been unconfirmed for about 5 days now. When will it drop from the men pool and get returned or any other way to get it confirmed?

PS. Paid 0.00010039 per/kb

ID: e9b0fbc32d32f160fc7b746d929c8519d14ab9393aed3dd03ec422d15d59e408

Thanks,

[DarkStar_]

Related kinda to this pool, I sent a mining reward consolidation transaction manually to a different wallet and obviously calculated the fee to low. Its been unconfirmed for about 5 days now. When will it drop from the men pool and get returned or any other way to get it confirmed?

PS. Paid 0.00010039 per/kb

ID: e9b0fbc32d32f160fc7b746d929c8519d14ab9393aed3dd03ec422d15d59e408

Thanks,

I've pushed the transaction to another pool's transaction "accelerator", you should see a confirmation within the next few hours.

If that doesn't work, your transaction is Opt In RBF, so you can replace the fee with a greater fee if needed and try to get a confirmation that way.

[PPOC]

Related kinda to this pool, I sent a mining reward consolidation transaction manually to a different wallet and obviously calculated the fee to low. Its been unconfirmed for about 5 days now. When will it drop from the men pool and get returned or any other way to get it confirmed?

PS. Paid 0.00010039 per/kb

ID: e9b0fbc32d32f160fc7b746d929c8519d14ab9393aed3dd03ec422d15d59e408

Thanks,

I've pushed the transaction to another pool's transaction accelerator, you should see a confirmation within the next few hours.

If that doesn't work, your transaction is Opt In RBF, so you can replace the fee with a greater fee if needed and try to get a confirmation that way.

Excellent, thank you. I actually tried to replace using electrum wallet increase fee option but failed the few times with "Cannot bump fee: cound not find suitable outputs"

[overcon]

Why so many orphaned blocks all of a sudden?

[PPOC]

Related kinda to this pool, I sent a mining reward consolidation transaction manually to a different wallet and obviously calculated the fee to low. Its been unconfirmed for about 5 days now. When will it drop from the men pool and get returned or any other way to get it confirmed?

PS. Paid 0.00010039 per/kb

ID: e9b0fbc32d32f160fc7b746d929c8519d14ab9393aed3dd03ec422d15d59e408

Thanks,

I've pushed the transaction to another pool's transaction "accelerator", you should see a confirmation within the next few hours.

If that doesn't work, your transaction is Opt In RBF, so you can replace the fee with a greater fee if needed and try to get a confirmation that way.

Done, that worked! Confirmed! Thanks. Be nice if Kano had an accelerator for all the loyal miners where .0001/kb could still be feasible.

Thanks again

[kano]

Why so many orphaned blocks all of a sudden?

Read the previous 2 pages ...
'2' is so many?
The previous was last December.

[rwubbels]

If your electricity is free, why stop mining? you already paid for the S7's. I have S5,S4 and S7 mining and still get some btc, not a lot but with "almost free electricity" it's hard to find a reason not to power them up.
Besides there are other ways to make money with your S7s. Selling them is but one option. msg me privately if you want more ideas.

I'm not quite understanding, either...I've got three S7s in Labrador that are profitable, and I'm paying hosting. I've got another two machines at home, Avalons, where the juice is free.

If your electricity is almost free I would recommend you getting a credit from a bank ( if you don't have the funds) and bumping it up to at least 100th and start making some money here at Kano!!!

If your electricity is free, why stop mining? you already paid for the S7's. I have S5,S4 and S7 mining and still get some btc, not a lot but with "almost free electricity" it's hard to find a reason not to power them up.
Besides there are other ways to make money with your S7s. Selling them is but one option. msg me privately if you want more ideas.

Well the point is, i see these miners go on ebay.de around 550 to 650 euro's.   Lets say i would get 1100 euro's, at the current rate (sigh) that's is 0,5 BTC.
With the exponentially growing Diff  I've seen my profits go from 0,28 to 0,12 BTC/month in the last half year. So, what i'm wondering is that if I mine for half a year,
what would those miners still be worth? I'm guessing that in another 6 months I might scrape 0,5BTC with 2 S7's but by then the diff will have risen so much that monthly it's 0,05BTC for 9TH..
I can only use about 3000watt so more miners is not an option.
Furthermore, the whole BitMain HardFork, scaling debate and all is not healty for Bitcoin.
I got into Bitcoin from an ideological point of view, get rid of the banks... but now we miners like the high TX fee's.  
But the TX fee's can't stay this high, otherwise BTC is not usable for making payments anymore.

[kano]

...
I got into Bitcoin from an ideological point of view, get rid of the banks... but now we miners like the high TX fee's.  
But the TX fee's can't stay this high, otherwise BTC is not usable for making payments anymore.

I wonder about that.
When I stayed in LA last week it cost me $703.00 on MC - then tx fees were another $21.09 on top ... ... ... ...

[Apprentice]

Well the point is, i see these miners go on ebay.de around 550 to 650 euro's.   Lets say i would get 1100 euro's, at the current rate (sigh) that's is 0,5 BTC.
With the exponentially growing Diff  I've seen my profits go from 0,28 to 0,12 BTC/month in the last half year. So, what i'm wondering is that if I mine for half a year,
what would those miners still be worth? I'm guessing that in another 6 months I might scrape 0,5BTC with 2 S7's but by then the diff will have risen so much that monthly it's 0,05BTC for 9TH..
I can only use about 3000watt so more miners is not an option.
Furthermore, the whole BitMain HardFork, scaling debate and all is not healty for Bitcoin.
I got into Bitcoin from an ideological point of view, get rid of the banks... but now we miners like the high TX fee's.  
But the TX fee's can't stay this high, otherwise BTC is not usable for making payments anymore.
[/quote]

I agree that the pools are somehow like banks now.

[Apprentice]

Out of curiosity.

The S9 has been on the market for sometime now. I am wondering it is the limitation of hashing hardware/power or it is possible to got higher than 13.5TH but not releasing it for some reasons...

[Biffa]

Out of curiosity.

The S9 has been on the market for sometime now. I am wondering it is the limitation of hashing hardware/power or it is possible to got higher than 13.5TH but not releasing it for some reasons...

There is a thread for that

But there was a 14TH version, so it just comes down to binned chips that can run at the speed and power required.

I would think if they wanted to make a 20TH version they could just make a bigger chassis with more boards in it.