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[nazzer]

Consolidating: Each payout you receive does make a total in your wallet, however when you go to spend, transfer, sell, etc. Each transaction accessed cost extra transaction fees. To avoid higher fees later it is suggested to consolidate all your payouts into 1 coin if you will.

so in my wallet its not jst a ballance it more of a collection of ballances added together ? and how do we know when its good to consolidate ?

When mempool is near empty and fees are low, I've found the following site to be a reasonable guide:

https://bitcoinfees.earn.com/

Note fees are usually measured per byte since the transaction block size is limited - miners aim to maximize transaction fees earned per byte

[1713509109]

1713509109

[1713509109]

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[heartlandmining]

so in my wallet its not just a balance it more of a collection of balances added together ? and how do we know when its good to consolidate ?

One way to look at it is like this:  If you want to buy a $1 burger from McBurger, each coin that you use contributes to the fee of the transaction.  So 100 pennies will have a 99x-higher transaction fee than would paying with a $10 bill and getting $9 back.  You'll still have to pay the $1 for the burger, you're just trying to diminish the fees associated with the transaction.

Consolidation is a way to convert all of those pennies into higher denominations so as to avoid future transaction fees comprising smaller amounts.

[perfectplus174]

...
I'm open to some feedback on a fun little perk on doubling someone's hash, but unless it's for a 5nd period, it will never get the full benefits.
...

If you mine for 10 hours at 4 TH/s you expect to get rewarded 10 hours at 4 TH/s
The 5Nd is only how the reward comes to you to reduce variance ...
which is from when you start until 5Nd after you stop i.e. start + 10hrs + 5Nd

I must have confused myself somewhere down the line just when I thought I understood it correctly. Can we expand on that example a little more? My brain catches on quicker with a detailed example.....

So, let's say someone has been mining for at least enough to have ramped up their 4 TH/s and was awarded another 4 TH/s as part of a giveaway and a block was found around 200 % difficulty from when the reward was added. To be clear, it only counts back shares equal to that 2Nd period since the last block, correct? Then the promotion expires and the extra hash starts to ramp down and another block isn't found until say another 300%. Those 2 blocks that total the 500% end up paying for the entire 4 TH/s that was added spread out over subsequent blocks up to 5Nd, no?

This is how I understand it and I'm confused why I worded it the way I did above. It was Friday and I had the weekend on my mind I guess.

I do have the correct understanding of how the 5Nd pays the shares though, right?

I don’t even wanna understand it. It’s just too much for my little brain. Mine on!!!

Yes you do!!   Really, we all should understood it quite well. So, here's the deal......

I'm going to up the stakes and hold you accountable with a new promotion lol!!!  ***** 50 TH/s *****

I want to see how well the small miners understand this and can explain it on a level where YOU(and others, including myself) fully understand it. I want that light bulb to go off and have ZERO doubt about how we are getting paid for our shares and I will donate 50 TH/s for a period of 5 days to a lucky winner.

My rules:

1- You have to have been mining on Kano's Pool with a hash rate between 1 and 10 TH/s
2- You have to have been mining with this hash for at least the last 5 blocks (to be confirmed by Kano)
3- You have to submit your answer in response to this quote and give 2 working examples including the payouts calculated.
4- padrinogtr will have to be able to explain his new understanding with an example in response to the submitted answer and confirmed by KANO.

The 5 day 50 TH/s award will start as soon as I am able to see confirmation and have access to my controllers. I will of course need a worker name.
I understand this is dependent on some cooperation from others, but hey it's 50 TH/s on the line and I'm currently only running about 70 TH/s, so it's a big deal to me.

5 days - 50 TH/s .... don't let us down padrinogtr!!!!!!

*Of course, this is for fun and in the event of a hash rate failure, I will not be obligated to make it up as noted in prior promotions. I hope I'm not leaving out any details. I will stay active with the announcements as well as open to hearing some feedback or details that should be edited.

I really don't want to piss off the head honcho either, so if this is crossing any lines or boundaries, please let me know!

Thanks everyone and MINE ON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

EDIT: I may have noticed my first mistake and I'm going to attempt to adjust this. Unless padrinogtr really needed this breakdown, I may tweak the rules to the best description from a miner who meets the first 3 rules, but who's answer reaches 10 votes for the best answer. What do you think?

***NOTE*** This competition is not yet valid until I get the "OK" from Kano and will get the details sorted out. SO SAVE YOUR ANSWERS UNTIL FURTHER NOTICE PLEASE!!

i love games!!! lets play!!!!

BTCBTCBTCBTC Okay, this competition is officially underway. It may seem a little goofy, but I wanted to keep the morale up as the forum is much more inviting when it is so. I also feel it is good to have different ways to understand that we can always point back to for those who struggle.

Padrinogtr doesn't have the concept down enough to be able to explain it, so it's open for someone who can create a visual that connects the dots. Everyone has their own way of understanding it and Kano has broken it down with a visual, but it's still not quite registering and that's okay, we all have different learning methods. I'm hoping someone can get creative enough though. So, competition is on for 50 TH/s !!!!!!!!

[gaud]

...
I'm open to some feedback on a fun little perk on doubling someone's hash, but unless it's for a 5nd period, it will never get the full benefits.
...

If you mine for 10 hours at 4 TH/s you expect to get rewarded 10 hours at 4 TH/s
The 5Nd is only how the reward comes to you to reduce variance ...
which is from when you start until 5Nd after you stop i.e. start + 10hrs + 5Nd

I must have confused myself somewhere down the line just when I thought I understood it correctly. Can we expand on that example a little more? My brain catches on quicker with a detailed example.....

So, let's say someone has been mining for at least enough to have ramped up their 4 TH/s and was awarded another 4 TH/s as part of a giveaway and a block was found around 200 % difficulty from when the reward was added. To be clear, it only counts back shares equal to that 2Nd period since the last block, correct? Then the promotion expires and the extra hash starts to ramp down and another block isn't found until say another 300%. Those 2 blocks that total the 500% end up paying for the entire 4 TH/s that was added spread out over subsequent blocks up to 5Nd, no?

This is how I understand it and I'm confused why I worded it the way I did above. It was Friday and I had the weekend on my mind I guess.

I do have the correct understanding of how the 5Nd pays the shares though, right?

I don’t even wanna understand it. It’s just too much for my little brain. Mine on!!!

Yes you do!!   Really, we all should understood it quite well. So, here's the deal......

I'm going to up the stakes and hold you accountable with a new promotion lol!!!  ***** 50 TH/s *****

I want to see how well the small miners understand this and can explain it on a level where YOU(and others, including myself) fully understand it. I want that light bulb to go off and have ZERO doubt about how we are getting paid for our shares and I will donate 50 TH/s for a period of 5 days to a lucky winner.

My rules:

1- You have to have been mining on Kano's Pool with a hash rate between 1 and 10 TH/s
2- You have to have been mining with this hash for at least the last 5 blocks (to be confirmed by Kano)
3- You have to submit your answer in response to this quote and give 2 working examples including the payouts calculated.
4- padrinogtr will have to be able to explain his new understanding with an example in response to the submitted answer and confirmed by KANO.

The 5 day 50 TH/s award will start as soon as I am able to see confirmation and have access to my controllers. I will of course need a worker name.
I understand this is dependent on some cooperation from others, but hey it's 50 TH/s on the line and I'm currently only running about 70 TH/s, so it's a big deal to me.

5 days - 50 TH/s .... don't let us down padrinogtr!!!!!!

*Of course, this is for fun and in the event of a hash rate failure, I will not be obligated to make it up as noted in prior promotions. I hope I'm not leaving out any details. I will stay active with the announcements as well as open to hearing some feedback or details that should be edited.

I really don't want to piss off the head honcho either, so if this is crossing any lines or boundaries, please let me know!

Thanks everyone and MINE ON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

EDIT: I may have noticed my first mistake and I'm going to attempt to adjust this. Unless padrinogtr really needed this breakdown, I may tweak the rules to the best description from a miner who meets the first 3 rules, but who's answer reaches 10 votes for the best answer. What do you think?

***NOTE*** This competition is not yet valid until I get the "OK" from Kano and will get the details sorted out. SO SAVE YOUR ANSWERS UNTIL FURTHER NOTICE PLEASE!!

i love games!!! lets play!!!!

BTCBTCBTCBTC Okay, this competition is officially underway. It may seem a little goofy, but I wanted to keep the morale up as the forum is much more inviting when it is so. I also feel it is good to have different ways to understand that we can always point back to for those who struggle.

Padrinogtr doesn't have the concept down enough to be able to explain it, so it's open for someone who can create a visual that connects the dots. Everyone has their own way of understanding it and Kano has broken it down with a visual, but it's still not quite registering and that's okay, we all have different learning methods. I'm hoping someone can get creative enough though. So, competition is on for 50 TH/s !!!!!!!!

rofl i tried but graphic here are somewhat limited lol

[minergain.com]

Consolidating: Each payout you receive does make a total in your wallet, however when you go to spend, transfer, sell, etc. Each transaction accessed cost extra transaction fees. To avoid higher fees later it is suggested to consolidate all your payouts into 1 coin if you will.

so in my wallet its not jst a ballance it more of a collection of ballances added together ? and how do we know when its good to consolidate ?

You really never NEED to consolidate, but when the fees are huge like they were a couple months ago and you need to send BTC to someone, it is much better to have a smaller number of transactions that were done at times like these.

I consolidate my mining rewards to a different address in the same wallet and when I look at the blockchain, it seems to have the same effect. If someone knows that is wrong, please let me know!

Also, if you want to have an email sent to you when the blockchain is low, you can do that for free at minergain.com.  Create an account, click on monitor, then go to settings and setup the "Weekly BTC Mempool Alert" to the threshold you like.

When you are ready to consolidate, you can see the recommended fees at https://www.minergain.com/faq.html#consolidate.

[Pecker]

Consolidating: Each payout you receive does make a total in your wallet, however when you go to spend, transfer, sell, etc. Each transaction accessed cost extra transaction fees. To avoid higher fees later it is suggested to consolidate all your payouts into 1 coin if you will.

so in my wallet its not jst a ballance it more of a collection of ballances added together ? and how do we know when its good to consolidate ?

You really never NEED to consolidate, but when the fees are huge like they were a couple months ago and you need to send BTC to someone, it is much better to have a smaller number of transactions that were done at times like these.

I consolidate my mining rewards to a different address in the same wallet and when I look at the blockchain, it seems to have the same effect. If someone knows that is wrong, please let me know!

Also, if you want to have an email sent to you when the blockchain is low, you can do that for free at minergain.com.  Create an account, click on monitor, then go to settings and setup the "Weekly BTC Mempool Alert" to the threshold you like.

When you are ready to consolidate, you can see the recommended fees at https://www.minergain.com/faq.html#consolidate.

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

[Waztim]

BTC Another one bites the dust. How about that, another block!! Mine On With Kano-San.BTC

[rifleman74]

Consolidating: Each payout you receive does make a total in your wallet, however when you go to spend, transfer, sell, etc. Each transaction accessed cost extra transaction fees. To avoid higher fees later it is suggested to consolidate all your payouts into 1 coin if you will.

so in my wallet its not jst a ballance it more of a collection of ballances added together ? and how do we know when its good to consolidate ?

You really never NEED to consolidate, but when the fees are huge like they were a couple months ago and you need to send BTC to someone, it is much better to have a smaller number of transactions that were done at times like these.

I consolidate my mining rewards to a different address in the same wallet and when I look at the blockchain, it seems to have the same effect. If someone knows that is wrong, please let me know!

Also, if you want to have an email sent to you when the blockchain is low, you can do that for free at minergain.com.  Create an account, click on monitor, then go to settings and setup the "Weekly BTC Mempool Alert" to the threshold you like.

When you are ready to consolidate, you can see the recommended fees at https://www.minergain.com/faq.html#consolidate.

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

Let's say you have 100 inputs of .01BTC which total one BTC.  Now let's say I have one input that totals one BTC.  If you and I were going to buy something, sell for Fiat, whatever for one BTC, you'd pay higher fees since you have 100 inputs whereas I only have one.   

[minergain.com]

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

Yes that would do it.  I typically wait at least a month and often times it will even be 3 months.  If you get somewhere near 20 to 30 new transactions in your wallet, that is a good time to start trying to find a good time to consolidate.  I always set it to a super low amount - who cares if it takes a week or two to get through.  If you specify too low of an amount, it will eventually come back to your wallet and there are ways to force it to come back too.  if your wallet does not have the option to specify the mining fee specifically - like jaxx, set it to the lowest mining fees you can.

[heartlandmining]

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

You don't need 2 wallets.  You can send yourself (from your wallet to your wallet) a bulk transaction to consolidate just the same.

[Pecker]

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

You don't need 2 wallets.  You can send yourself (from your wallet to your wallet) a bulk transaction to consolidate just the same.

So I could send from my wallet right and then receive right back to the same wallet ?  I understand the principle just want to make sure I dont do something wrong, lol

Thanks !

[gaud]

I still don't completely understand ...  If I send all my BTC from my temporary/work wallet so my Nano S9 that would be a transaction and it would consolidate?

I really like having everything in one wallet...then periodically transfer to Nano S so that would do it? 

You don't need 2 wallets.  You can send yourself (from your wallet to your wallet) a bulk transaction to consolidate just the same.

So I could send from my wallet right and then receive right back to the same wallet ?  I understand the principle just want to make sure I dont do something wrong, lol

Thanks !

yes jst need to generate a second wallet address from the same wallet

[Shazam!!!]

Got a notification from the Android pool app, while I was at work this morning. First thing that popped into my mind, was
I had lost power AGAIN! Very pleased to see we had found a block! Can't wait for this ramp to be finished.

[heartlandmining]

OT: Anyone else being inundated with coupons from a certain vendor today?  I'm always suspect when a big push to move product is underway from these guys.

[Shazam!!!]

OT: Anyone else being inundated with coupons from a certain vendor today?  I'm always suspect when a big push comes to move product is underway from these guys.

I haven't received any, and I'm on the notification list of most legitimate companies, and distributors.

[rifleman74]

OT: Anyone else being inundated with coupons from a certain vendor today?  I'm always suspect when a big push to move product is underway from these guys.

Next miner is already up and running in their mines, gotta get rid of the s9's!

[heartlandmining]

Next miner is already up and running in their mines, gotta get rid of the s9's!

And they're still selling T9's too.

37 coupons so far, ranging from $100-$200.

[rifleman74]

We're not due anything, but let's crack this CURRENT BLOCK EARLY!


MINE ON WITH KANO-SAN!

[MinerSRQ]

OT: Anyone else being inundated with coupons from a certain vendor today?  I'm always suspect when a big push to move product is underway from these guys.

Not inundated - but I did receive an unexpected email this AM "Coupon 200 USD Coupon Valid : 2018-02-24 18:15:51 ~ 2018-06-01 18:13:00"

[kaoscoin]

Happy to join the pool. I tried test runs at antpool, slushpool but I think those
pools are taking too much profits. Nicehash is good but I am not sure about it´s
security because it got hacked.

How long does the rewards take to be seen on my account?

I run Antminer s9 14Th which still should be profitable.
My other miner is Antminer L3+ that´s for litecoin mining
but in other pool

You get a reward each time anyone finds a block

Got one, block #510992. Not much though...