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

[16plato]

Kano, can you reset my login? Getting a login failed too many attempts for some reason... (16plato)

[wavelengthsf]

Got a shipping notification from Halong. Hopefully it's the miner (and not just the PSU.) Will point it to a proxy setup by Kano once it actually gets delivered and I drive it down from my house to the mine, get that ASICBOOST going (if it works and once Kano can test it.)

[clgrissom3]

BTClock on my way to work!!! and.....it's Monday!!! Hopefully our luck is changing!!!

Love waking up to BLOCK MONDAY!

Wow!  It's a 13+ block!

[rifleman74]

BTClock on my way to work!!! and.....it's Monday!!! Hopefully our luck is changing!!!

Love waking up to BLOCK MONDAY!

Wow!  It's a 13+ block!

Nice fat one.   Let's get another one here.



MINE ON WITH KANO-SAN!

[Biffa]

Got a shipping notification from Halong. Hopefully it's the miner (and not just the PSU.) Will point it to a proxy setup by Kano once it actually gets delivered and I drive it down from my house to the mine, get that ASICBOOST going (if it works and once Kano can test it.)

Going by current deliveries its probably the miner, minus the PSU. They seem to be arriving later rather than sooner.

[kano]

Kano, can you reset my login? Getting a login failed too many attempts for some reason... (16plato)

Done.

[wavelengthsf]

Going by current deliveries its probably the miner, minus the PSU. They seem to be arriving later rather than sooner.

That’s better than the alternate - so annoying when the PSU shows up without a miner.

[kano]

BTCluelagoon our Sunday hero

Is Bluelagoon a new miner?  Just wonder if they got a bonus?

He's been here since last year - so there's still 7 BTC left.

What if a existing miner higher the hahrate into the next "group"

Sorry - I've no idea what you mean

But, I know who most of the top miners are so it's not really a concern about people trying to create multiple accounts.
(and I know 'where' their hash rate comes 'from')
People with that much hash rate aren't usually trying to mess with their miners

[Biffa]

I think he means, what if they are a 2PH miner who has been here for some time (from before the competition started), and they increase to a 9PH miner during the competition.

[drumsticks]

Hello Kano Members,

I have been running a few ASIC miners here for a while and usually see that sometimes it takes a few days for payouts to catch up.
Recently,  I have been seeing payouts maybe every other day and then between May 3rd and May 8th, there was no payouts happening.  Since then, there was two payouts on May 9th and then one payout for the 11th, 13th and 14th of May.  There was one day where my ASIC miners went down for about 1/2 a day over this past weekend, but I don't think that would have caused any issues for what seems to be missing payouts.  Is anyone else experiencing this or could there be something wrong happening with just my account?

Thank you.

[Biffa]

Is anyone else experiencing this or could there be something wrong happening with just my account?

Thank you.

No thats correct, and tallies with my payouts.

You only get payouts when we find blocks, and only then after 100 confirmations of that block.

[drumsticks]

Thank you, Biffa.  I didn't realize we were paid only for finding blocks.  I thought finding a block was like an added bonus of some sort, not the only way we get paid. 

My understanding is completely incorrect now and I will have to reread how this all works.  I was thinking the average of the difficulty was supposed to help even out our payouts but I don't see it actually working out in this manner.  Especially, when there is no payout for 5 days and nothing to come of it after all of that time.  That's a lot of cost and time for nothing. This is not a complaint, but a realization that there is more risk to mining in this manner than I was thinking originally.  I was anticipating a payout on almost a daily basis, but it's far from that after seeing recent payouts over the past couple of weeks.  Basically, there are times where we could essentially get paid nothing for offering our service.

What happens when all of the BTC blocks are found?  Are these ASICs basically rendered useless?  I understand that the ASICs are meant for SHA-256, so maybe Bitcoin Cash or another SHA-256 crypto is what we would be forced to switch to?  Is this what would have to happen?

Thank you.

Is anyone else experiencing this or could there be something wrong happening with just my account?

Thank you.

No thats correct, and tallies with my payouts.

You only get payouts when we find blocks, and only then after 100 confirmations of that block.

[Biffa]

drumsticks, it works the other way around too.

Sometimes we might go a few days and only find one block, and other days we find a few blocks in one day. In the end, over time it evens out to around 100% of what is expected.

That "over time" bit depends on the size of the pool, this is called variance. The larger the pool the smaller the variance, so that it evens out to 100% of expected in a shorter time.

At the moment I would say we have good months and bad months, but over a year we hit 100% or greater expected return.

When all the bitcoins run out, we will be mining for the transaction fees, but that won't happen for a long time as there are nearly 4 million blocks yet to mine.

[drumsticks]

Thanks again, Biffa.  I'm on board with everything you said.  Just curious, are we not paid with any sort of transaction fees now?  I thought that was the #1 way we were getting paid with Blocks being found as a bonus.

drumsticks, it works the other way around too.

Sometimes we might go a few days and only find one block, and other days we find a few blocks in one day. In the end, over time it evens out to around 100% of what is expected.

That "over time" bit depends on the size of the pool, this is called variance. The larger the pool the smaller the variance, so that it evens out to 100% of expected in a shorter time.

At the moment I would say we have good months and bad months, but over a year we hit 100% or greater expected return.

When all the bitcoins run out, we will be mining for the transaction fees, but that won't happen for a long time as there are nearly 4 million blocks yet to mine.

[Biffa]

Thanks again, Biffa.  I'm on board with everything you said.  Just curious, are we not paid with any sort of transaction fees now?  I thought that was the #1 way we were getting paid with Blocks being found as a bonus.

Yes when a block is found, this pool includes the transaction fees when it pays the miners on the pool, proportionately to the amount of hash power each miner provides to the pool.

But when all the bitcoins run out, we will just be mining blocks for the fees alone.

[rifleman74]

Thanks again, Biffa.  I'm on board with everything you said.  Just curious, are we not paid with any sort of transaction fees now?  I thought that was the #1 way we were getting paid with Blocks being found as a bonus.

drumsticks, it works the other way around too.

Sometimes we might go a few days and only find one block, and other days we find a few blocks in one day. In the end, over time it evens out to around 100% of what is expected.

That "over time" bit depends on the size of the pool, this is called variance. The larger the pool the smaller the variance, so that it evens out to 100% of expected in a shorter time.

At the moment I would say we have good months and bad months, but over a year we hit 100% or greater expected return.

When all the bitcoins run out, we will be mining for the transaction fees, but that won't happen for a long time as there are nearly 4 million blocks yet to mine.

Yes, the last block had roughly .51BTC in it as fees (after kano's pool fee was deducted).   

[swanny88]

Thanks again, Biffa.  I'm on board with everything you said.  Just curious, are we not paid with any sort of transaction fees now?  I thought that was the #1 way we were getting paid with Blocks being found as a bonus.

Yes when a block is found, this pool includes the transaction fees when it pays the miners on the pool, proportionately to the amount of hash power each miner provides to the pool.

But when all the bitcoins run out, we will just be mining blocks for the fees alone.

Please don't take this the wrong way but google is great at answering a ton of these questions that aren't related to the pool.  The next subject I would read up on is "difficulty" and how it affects the amount of BTC you can earn per day/month/week.


Here is another good page to read as well.

https://bitcointalk.org/index.php?topic=789369.0

[jhoren]

Thank you, Biffa.  I didn't realize we were paid only for finding blocks.  I thought finding a block was like an added bonus of some sort, not the only way we get paid. 

My understanding is completely incorrect now and I will have to reread how this all works.  I was thinking the average of the difficulty was supposed to help even out our payouts but I don't see it actually working out in this manner.  Especially, when there is no payout for 5 days and nothing to come of it after all of that time.  That's a lot of cost and time for nothing. This is not a complaint, but a realization that there is more risk to mining in this manner than I was thinking originally.  I was anticipating a payout on almost a daily basis, but it's far from that after seeing recent payouts over the past couple of weeks.  Basically, there are times where we could essentially get paid nothing for offering our service.

What happens when all of the BTC blocks are found?  Are these ASICs basically rendered useless?  I understand that the ASICs are meant for SHA-256, so maybe Bitcoin Cash or another SHA-256 crypto is what we would be forced to switch to?  Is this what would have to happen?

Thank you.

By the time all the blocks have been found we'll likely be dead and there will likely be a new form of currency.

[firetreeactual]

Thank you, Biffa.  I didn't realize we were paid only for finding blocks.  I thought finding a block was like an added bonus of some sort, not the only way we get paid. 

My understanding is completely incorrect now and I will have to reread how this all works.  I was thinking the average of the difficulty was supposed to help even out our payouts but I don't see it actually working out in this manner.  Especially, when there is no payout for 5 days and nothing to come of it after all of that time.  That's a lot of cost and time for nothing. This is not a complaint, but a realization that there is more risk to mining in this manner than I was thinking originally.  I was anticipating a payout on almost a daily basis, but it's far from that after seeing recent payouts over the past couple of weeks.  Basically, there are times where we could essentially get paid nothing for offering our service.

What happens when all of the BTC blocks are found?  Are these ASICs basically rendered useless?  I understand that the ASICs are meant for SHA-256, so maybe Bitcoin Cash or another SHA-256 crypto is what we would be forced to switch to?  Is this what would have to happen?

Thank you.

By the time all the blocks have been found we'll likely be dead and there will likely be a new form of currency.

Miners are rewarded with new BTC in addition to the transaction fees included in the block. How the pool operator divvies that all up is the difference.

When all the coin are generated (note that I did not say all blocks are "found") there will still be blocks to be processed, and my assumption is that our ASICs will still be doing the same thing, but only for tx fees and no additional BTC reward. How that will play out in reality, which will be a direct result of spot price, is anyone's guess, I think.

I'm probably wrong, but I'm still half wonky after three weeks on a disaster op, a staph infection, and a few other fun things. Mine on. 

[VRobb]

Glad to see you're still kickin' butt Elaine!  Keep safe over there, and MINE ON!