Quote from: perfectplus174 on February 26, 2018, 05:09:33 PM

Quote from: padrinogtr on February 25, 2018, 03:27:30 PM

Quote from: perfectplus174 on February 25, 2018, 05:32:22 AM

Quote from: padrinogtr on February 25, 2018, 04:58:08 AM

Quote from: perfectplus174 on February 25, 2018, 04:50:15 AM

Quote from: kano on February 24, 2018, 05:53:20 AM

Quote from: perfectplus174 on February 24, 2018, 05:30:21 AM

...
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 dont even wanna understand it. Its just too much for my little brain. Mine on!!!

Yes you do!! Grin

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 !!!!!!!!

Alright... here goes nuthin'! Grin

Padrinogtr, I doubt you'd be here mining if you weren't at least partially interested in money, so I hope this analogy will keep your attention past the first paragraph! (See Definitions for bold phrases if you get confused Huh

)

The Analogy:
Imagine a bunch of us sitting around with our own unsealed paper coin rolls/wrappers in which each of us continues to grab a handful at a time of coins of all different denominations--that we are supplied by the smartest one among us Grin

so we'll work the most efficiently--and insert them into one side of the coin wrapper until it's so full that they start falling out of the other side. At any point in time, the most recent coin pushed into one of the coin rolls could be a $1 coin, which is currently the magic number that everyone is looking for to put in their coin wrapper so we can all get paid and take a break for a (nano)second. Once that $1 coin is found, the lucky guy who found it shouts in glee that he found the one that everyone was looking for, and we all spread the word that it's been found and share the details about the event that just took place.

The Reward:
At the point where the $1 coin was found, the rest of us immediately want to know how much we're going to get paid for the work we did. We all know that the current reward for finding the magic number is $12,500, and now it's time to split it all up based on the work that everyone did. So, the boss adds up all the coins that each of us had in our coin wrappers and gives us a percentage of the $12,500 based on the face value of the coins we each individually fit into the coin wrappers--not counting the ones that fell out of the other side.

Example Payout:
Let's say I have small hands and can't grab big handfuls of big coins like some of the other guys around here Cry

, so I was usually putting dimes ($0.10) in my coin wrapper in between taking breaks every now and then. Well, when it comes time to add everything up, at best I might be able to fit $5 total in my whole coin wrapper--by the way, the wrapper is always five (5) times the magic number. Now, when the boss compares this to some of the other guys who were filling their coin wrappers with half-dollar pieces ($0.50) totaling $20 per roll, of course, they would expect to get four (4) times the reward that I would get. To keep things simple, let's just say there were only two (2) of us filling the coin wrappers. I got $5 into mine, and you got $20 into yours. My contribution ($5) divided by the total of all contributions ($5 + $20 = $25) would be 0.20 (20%), which would get me a payout of the result of the following equation:

$12,500 minus the boss' cut of 0.9% (0.009)--$12,500 - $112.50 = $12,387.50--multiplied by 0.2 equaling $2,477.50.

However, your contribution ($20) divided by the total of all contributions ($5 + $20 = $25) would be 0.80 (80%), which would result in a payout for you equaling ($12,387.50 multiplied by 0.80) $9,910.

Closing:
There are certain areas above that I could've delved into a little deeper, but I wanted to keep it relatively simple and light-hearted, so that's all I have. Thanks everybody for giving me a shot, and thanks PerfectPlus174 for putting a great challenge out there for us to show how much we've been paying attention to what all these great contributors are sharing with us. Goodnight all!

Definitions:
Big Handfuls of Big Coins = Top-of-the-line ASIC miners
Bunch of Us = Pool of miners
Coins of all different denominations = Shares of various values of miner work
Current Reward = 12.5 BTC Miner Reward (plus Transactions Fees)
Details about the Event = New candidate block information
Each of Us = Individual Miners
Everyone = All miners on the global Bitcoin network
Get Paid = Receive our portion of the Miner Reward
Handful at a Time = A share of mining work
Lucky Guy = The miner who found the new candidate block
Magic Number = Network Difficulty
Small Hands = Low-level ASIC miner
Spread the Word = Propagating the new candidate block information around the global Bitcoin network
Take a Break = Ending the mining shift early to reset for the next block
Taking Breaks Every Now and Then = Stupid internet and power companies! Angry

The Boss / Smartest One Among Us = Kano, of course Grin

The Boss' Cut = The pool fee
Falling Out The Other Side = The work we did prior to the 5Nd
Unsealed Paper Coin Rolls/Wrappers = The 5Nd

Disclaimer: I should very well get disqualified for just being picked in luxMiner's promo, which technically threw me over the 15Ths cap. On the other hand, my usual hashpower is only 3.5Ths, and I actually had to work for this one, so I tried to give my best real-world analogy based on my understanding of how the 5Nd and mining in general works.

Thanks again,
BSGMiner