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

[VRobb]

Ok, GPU and shitcoin discussions do not belong here, way OT... 

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[MattMell]

Given the average rate over the past month or so, we are going to be approaching a difficulty number with a 5 handle, from its current 2 handle.

This will absolutely crush even the Antminer S9 profitability unless bitcoin doubles or more from here.
This is the single biggest issue I see in mining now.

When I first decided to buy the Antminer S9 in late November, I noted that slushpool had about 48,000 workers (Early Dec.), I will be getting my miners shortly, but now slushpool has almost 74,000 workers and in the next two months that's probably going much higher. And I'm sure its the same at every pool, including Kano which I'm likely to be joining. But I can't see how these miners stay profitable past July-Aug at current rate of increase of mining machines and difficulty.

What are you long term miner's thoughts on this subject?

I suppose we all have our spreadsheets to look at the profitability of mining. Unfortunately there is a lot of guess work of BTC price, miners cost, difficulty/network hash rate.  My spreadsheet show that one should be careful when buying more miners -

If I start mining tomorrow I should have paid max. $200/Th (all in) else loose money and is better off buying BTC with the money(including power cost) . This is based on-
 - Bitcoin price double in the next 12 months from $14600 => average 2.5% growth per 2016 blocks (anyones guess)
 - Network difficulty increase 11% per 2016 blocks (possibly low)
      Historic compound growth over periods(2016 blocks) back from 13 Jan 2018   
      5.1156%   Growth over 52 periods
      6.6199%   Growth over 25 periods
      7.4302%   Growth over 20 periods
      7.8076%   Growth over 15 periods
      9.0211%   Growth over 10 periods
      9.9122%   Growth over 5 periods
- Block reward per block 15 BTC (after pool fees)
- Electrical cost $0.14/kWh (no growth)

Buying a S9 miner at $4000 => ~$295/Th is out of the question for me. Even at electrical cost $0.07/kWh; $265/Th is break-even. I can afford $200/Th => S9 landing cost of $2700 mining from tomorrow.

Things to consider
- Im not sure if the manufacturers can keep pushing out hashing power at 11% every fortnight. If we sit at BTC say ~16Eh/s then to increase at 11% every 14 days => S9s per period (~130 000 ; ~145 000;  ~161 000.... ). BCH also need miners. Maybe someone has better insights here.
- Seeing for public we pay in BCH at Bitmain, mining(when more profitable than BTC) or buying BCH when price is low drive down $/Th

No use keeping eyes closed and just buying miners when its cheaper to buy BTC.

When all is said and done - Mine on!

[minergain.com]

Anyone in the US mining here that knows of a place where I can host 25 machines? I am running out of room at my facility and want to avoid the cost of having an additional transformer run out to my property. Any help would be appreciated.

So I am out in the country in Wisconsin with 140 acres of land, 12 pairs of fiber coming to my house (I currently have dedicated 50/50mb business service through ATT at a grand per month for my home business), a single phase 320kva transformer (in-ground wiring) with a 200A panel in my house and another mostly empty 200A panel in an "outhouse" that just protects the panel.  I was going to build a barn and needed to revise the budget when we built years ago. I have a small (20x40ft?) non insulated metal shed with concrete floor about 50 feet beyond that with a 60Amp panel that is mostly unused.  Super easy to get the full 200 Amps into that building.  My son grabbed about 10 full size server racks that he cannot give away (7.5 foot tall).  I had the thought of building a small building around my outhouse that was specifically designed for miners, but by the time I am done it probably would be 30k+.  So another option is to figure out how to retrofit the shed.  Obviously 200 amps will not do a ton of S9's, so no matter what, it is a small scale operation.  I also had the thought of putting up solar panels and we even have hills to put up a wind turbine - although we are only a couple miles from the interstate where planes follow, so probably some issues getting permits for a full size one.  Again, a big investment when mining may disappear in a couple years?  Anyway, if interested in discussing, feel free to PM me and I'll get you my contact info.  Or you email me through the minergain site links.

[Vertflyer]

Can I ask a generic btc question here? I trust people here more than other places.

Mainly, I used a dedicated offline computer to generate my wallet and key. So basically paper wallet. I know when I want to spend or cash some, the safest method is to send some to the exchange or wherever and send the balance to a new paper address.

Is there any alternative to this where I can keep my paper wallet send some btc and not be open to my key being exposed to the internet? Is there a safe method?

[Jeremiah1610]

From what you have described, you will use an online computer(watch only wallet) to start a blank transaction which is then saved to a usb drive. You will then fill out and sign the transaction on your offline computer and save it to the usb drive. Then load it into the online computer again (watch only wallet) and upload the transaction. Fellow noob here as well.

[kano]

Well I guess the problem is keeping the offline wallet up-to-date.
My solution is that I have one bitcoin at home that talks to the internet and of course has no wallet, then 4 others that only talk to that one - 2 being wallets also - the other 2 as backups to the main one if it dies and needs rebuilding ... which it has more than once ... rebuild by copy is so much faster
So while they are never offline except when I shut them down for some reason, I have the network such that the wallets can't talk to to the internet at all except when I temporarily open port 80 outgoing, for them to do linux updates.
Of course it requires more computers, but I guess it just depends on how much BTC you're trying to secure.
There's of course more to it than that, but that's the basic idea.

[AerialGopher]

Well I guess the problem is keeping the offline wallet up-to-date.
My solution is that I have one bitcoin at home that talks to the internet and of course has no wallet, then 4 others that only talk to that one - 2 being wallets also - the other 2 as backups to the main one if it dies and needs rebuilding ... which it has more than once ... rebuild by copy is so much faster
So while they are never offline except when I shut them down for some reason, I have the network such that the wallets can't talk to to the internet at all except when I temporarily open port 80 outgoing, for them to do linux updates.
Of course it requires more computers, but I guess it just depends on how much BTC you're trying to secure.
There's of course more to it than that, but that's the basic idea.

And if Kano is doing all that for one bitcoin......  :-)  hahaah    I wish I had one...  it would pay for my hardware.
so posting my 12 secret words on my website's home page for me to easily find them probably isn't a good idea?  I thought in plain sight was the best!  hmmmm...

[kano]

Well I guess the problem is keeping the offline wallet up-to-date.
My solution is that I have one bitcoin at home that talks to the internet and of course has no wallet, then 4 others that only talk to that one - 2 being wallets also - the other 2 as backups to the main one if it dies and needs rebuilding ... which it has more than once ... rebuild by copy is so much faster
So while they are never offline except when I shut them down for some reason, I have the network such that the wallets can't talk to to the internet at all except when I temporarily open port 80 outgoing, for them to do linux updates.
Of course it requires more computers, but I guess it just depends on how much BTC you're trying to secure.
There's of course more to it than that, but that's the basic idea.

And if Kano is doing all that for one bitcoin......  :-)  hahaah    I wish I had one...  it would pay for my hardware.
so posting my 12 secret words on my website's home page for me to easily find them probably isn't a good idea?  I thought in plain sight was the best!  hmmmm...

Well ... the pool wallet is rather important

[kano]

Block! by Tommy
2nd time on the Acclaim board - well done!

17.6BTC ... and a Payout

[clgrissom3]

Yay block!

[MattMell]

Block time...

[rifleman74]

Yay block!

Nice, let's get another one before the weekend is over (three day weekend for many in the US).


MINE ON!

[Maus44]

about time we cracked a block!  

[AerialGopher]

about time we cracked a block!  

NOOOOOOOOO.. we opened it up gently...  and shared it!
No cracking or breaking blocks.. if we treat them right, we will get more..
:-P

That was a LUCKY jan 13th Block!

[ShefSam]

BTClock Party Weekend!!!

[Maus44]

about time we cracked a block!  

NOOOOOOOOO.. we opened it up gently...  and shared it!
No cracking or breaking blocks.. if we treat them right, we will get more..
:-P

apologies, i will dust and shine them good  

[Waztim]

Dancing on a Block Friday!! Mine On with KANO-SAN.

[Thrash]

Nice to step out and come back to find a block. Thanks Tommy!

[BertTOC]

Hey Everyone,

I am new to mining and bit confused between Kano pool and other. I have 4 S9's and just wanted to compare the pools so I mined for 5 days at Kano with 2 s9's and 2 with other pool. So far at Kano pool we found 3 blocks since i have joined and Other pool i get daily payouts. After 5 days testing results are:

KanoPool:
Total BTC paid: 0.0098165
Other Pool BTC paid: 0.020124

How is it Kano pool is paying bit lesser than those high fee pool? is it because i have only contributed 5 days ? or am i Missing soemthing here?

No Bad intentions here just trying to understand with everypool and etc

Thanks in Advance

[kano]

Hey Everyone,

I am new to mining and bit confused between Kano pool and other. I have 4 S9's and just wanted to compare the pools so I mined for 5 days at Kano with 2 s9's and 2 with other pool. So far at Kano pool we found 3 blocks since i have joined and Other pool i get daily payouts. After 5 days testing results are:

KanoPool:
Total BTC paid: 0.0098165
Other Pool BTC paid: 0.020124

How is it Kano pool is paying bit lesser than those high fee pool? is it because i have only contributed 5 days ? or am i Missing soemthing here?

No Bad intentions here just trying to understand with everypool and etc

Thanks in Advance

Because here you've not received your full reward yet.
You reward for each share is spread out over the 5Nd after you submit the share, to reduce variance.
So while on those other pools you get nothing more if you stop mining, here your reward per block will ramp down after you stop mining.
Currently the 5Nd ramp is roughly 15 days, so if you do a runner today you'll keep getting (smaller and smaller) rewards for probably another 15 days.
Of course that number "15 days" is based on the size of the pool and changes all the time.
See Help->Payouts for the above information and more.