KanoPool since 2014 🐈 - PPLNS and Solo 0.5% fee - Worldwide - 2438 blocks

[kano]

The good news is the difficulty increase coming in ~14 hours keeps decreasing.  Was 8%, now it's closer to 6%.

M

Yeah BTC.TOP moved their 1.4EH to BCH for a couple of days.
That's what caused it and also part of what caused the fee increase.
The other cause of the fee increase was the price rise, though one might say the price rise was caused by the hash rate drop

[MikeWazowski]

Hi there guys, super excited to be here - just joined the pool (got my miner on Thursday)

Just wanted to find out, I know the pool works off a PPLNS Payment system.

Could someone please take the time to break this down and actually explain how it works and what total payments I could expect for a month? (Currently mining with one S9)
Just curious on how it works, what the profitability is like etcetera

Sorry for being a noob.

Thanks

Hello and welcome!  

PPLNS stands for Pay Per Last Number of Shares.  The best way to describe it is your pay per block "ramps up" from the time you start mining, and "ramps down" when you stop (for whatever reason - power outage, moving, leaving, whatever).  It takes about 3 days to fully ramp up when you mine full time.

What that means is we find a block before your 3 days are up (5N as it's termed), you will receive a fraction of what would be your "full payout" if you were fully "ramped up".  It also means if you are offline after you reach your full 5N, and we find a block, you still receive a fraction of that "full payout".

At current difficulty and BTC price, an S9 @ 14TH/s will earn about $566 for 30 days after the 0.9% pool fee.  You have to subtract out your taxes and electricity costs.  Note that difficulty is slated to increase by ~6% in about 12 hours, so that value will go down.  If BTC price increases, then that value will go up.

This pool seems to be one of the only pools, if not the only pool, that shares transaction fees of the block among the miners.  Furthermore, the pool op, Kano, seems to have a pretty good system built where blocks seem to pick up higher than average transaction fees.  The last block found here was worth 15.03BTC.  Since a block is only 12.5 BTC, that means another 2.53 BTC in transaction fees was included, and that's divvied up among the miners proportionately based on their 5N hashrate.

Lastly, this pool is "small", so variance can suck at times.  On average, the pool will get 100% luck on block finding.  Since it's a small pool, that means there will be times when luck really sucks.  Long term, however, you will come out ahead of other pools, because of above point about transaction fees.  Don't be discouraged by dry block spells.  Instead, recruit others to mine here to decrease variance!

Kano has all sorts of graphs and numbers on the pool page.  Check them out.  They will eventually make sense, once you grasp the above mentioned info.

M

This was so helpful, thanks a lot - really appreciate it!  

Quick question: how is the "5N" calculation worked out? and can you give me an example?

For instance, my N-Avergae is 4.14TH/s -- what does this mean? is this standard for an s9 miner?

[mdude77]

This was so helpful, thanks a lot - really appreciate it!  

Quick question: how is the "5N" calculation worked out? and can you give me an example?

For instance, my N-Avergae is 4.14TH/s -- what does this mean? is this standard for an s9 miner?

I think your N-Average is still growing as you haven't reached 5N yet.  Eventually your N-Average will reach your mining speed, which I think is around 14TH/s for an S9?  I think it depends on which batch you have.

M

[overcon]

OK, it's that time again!

[NomadGroup]

Hey guys, can anyone recommend me a good place to buy a bunch of BCH coins so that I can buy some more miners?  Because bitmain only have been accepting the BCH as the payment method lately! 

[usernamehere]

Hey guys, little off-topic here but I was wondering what wallets are you guys using? Are you using hardware wallets? A combination of different types?

Would love to hear your input! 

I use Ledger Wallet and breadwallet. I try to keep my btc off the exchanges as much as possible and follow the mantra "not your private keys, not your bitcoin".

[beltsniffer]

Block by Blockmines!

[Bigsky]

Hey guys, can anyone recommend me a good place to buy a bunch of BCH coins so that I can buy some more miners?  Because bitmain only have been accepting the BCH as the payment method lately! 

I have used shapeshift a couple of times, though can take a few hours if your unlucky.
The first time I used them the transaction was almost instant, this last time it took
a couple of hours

I wont vouch for them, but they have worked for me

The problem I have is finding hosting, I would love to buy a
few more, but have nowhere economical to run them 

[clgrissom3]

Block by Flippout with 102TH/s!  Welcome to the Acclaim Board with your 1st Kano block! 

This is our 2nd of BLOCK SUNDAY!

[MikeWazowski]

Block by Flippout with 102TH/s!  Welcome to the Acclaim Board with your 1st Kano block!  

This is our 2nd of BLOCK SUNDAY!

What does the Acclaim board mean ?
Also what does it mean that Flippout found a block? Does he get the full reward for the block he found?

[Philopolymath]

The acclaim board tells us WHO ( which miner which machine etc..) found the block..
And keeps score of how many blocks each user has found.

Finding the block is the point of mining it is the way the miners recieve rewards..
Each found block is currently worth 12.5 BTC .....PLUS a certain amount of transaction fees included as further reward for supporting the network by mining blocks.

Which is why we all celebrate finding blocks ...especially when they are found more frequently than expected..
And why we all whine and moan when they our luck is bad and they are overdue late.

But no the finder does not get to keep all the reward..that defeats the purpose of the pool..
Finding blocks is SOOOO difficult that we POOL our efforts and share the rewards proportionally to the amount of work each contributes.


This last one came in rather early a 35% of the expected average time to find one..

YIPPEEE..we want many more of those because we have had a run of very bad luck for some time and are still a few blocks behind.

[Sosoft]

Block by Flippout with 102TH/s!  Welcome to the Acclaim Board with your 1st Kano block!  

This is our 2nd of BLOCK SUNDAY!

What does the Acclaim board mean ?
Also what does it mean that Flippout found a block? Does he get the full reward for the block he found?

I think you have to be logged in to see the acclaim board.
https://www.kano.is/index.php?k=userinfo

[Philopolymath]

Yes of course one must be logged in for full stats..

But I noticed the net stats for block times are not displayed...though they do flash briefly when refreshing.

[clgrissom3]

Block by Flippout with 102TH/s!  Welcome to the Acclaim Board with your 1st Kano block!  

This is our 2nd of BLOCK SUNDAY!

What does the Acclaim board mean ?
Also what does it mean that Flippout found a block? Does he get the full reward for the block he found?

No, the block finder doesn't get anything extra.  He gets his share just like all of the rest of us.  We just like to acknowledge the finder for fun.  It's cool to see the list grow and it's cool to see your name when you finally get on the list.

[NomadGroup]

Hey guys, can anyone recommend me a good place to buy a bunch of BCH coins so that I can buy some more miners?  Because bitmain only have been accepting the BCH as the payment method lately! 

I have used shapeshift a couple of times, though can take a few hours if your unlucky.
The first time I used them the transaction was almost instant, this last time it took
a couple of hours

I wont vouch for them, but they have worked for me

The problem I have is finding hosting, I would love to buy a
few more, but have nowhere economical to run them 

I see, thanks!  Although I’m looking for a pace where I can pay with a USD.

[Norm49]

Hey guys, can anyone recommend me a good place to buy a bunch of BCH coins so that I can buy some more miners?  Because bitmain only have been accepting the BCH as the payment method lately! 

I have used shapeshift a couple of times, though can take a few hours if your unlucky.
The first time I used them the transaction was almost instant, this last time it took
a couple of hours

I wont vouch for them, but they have worked for me

The problem I have is finding hosting, I would love to buy a
few more, but have nowhere economical to run them 

I see, thanks!  Although I’m looking for a pace where I can pay with a USD.

If you have an account with Kraken, they have BCH/USD in their trading pairs.

[kartala]

Another one. Niice.

[Philopolymath]

Damn right I'll ...'DANCE" for that one YIPPPEEE

[Biffa]

Dammit, blocks left and right but now Labrador seems offline

All of Goose Bay has lost power. We're waiting on an update

[firetreeactual]

Dammit, blocks left and right but now Labrador seems offline

All of Goose Bay has lost power. We're waiting on an update

Yup...just got up and noticed. They'll get it back OK...no worries.