Quote from: mdude77 on October 14, 2017, 05:39:57 PM

Quote from: MikeWazowski on October 14, 2017, 05:05:20 PM

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?