Quote from: ChristianUA on March 30, 2018, 06:53:23 AM

Quote from: kano on March 30, 2018, 02:09:42 AM

Block! by sidewinder again Cheesy

Iam very new to this about mining.
But for every block found. You get payout?

Yes, after a block is found, The bitcoin network confirms it over the next 100 blocks. The reward from the block can now be spent - The pool operator Kano, will then issue the payment to the miners, based on how much they contributed. The payment is sent with a very low fee.( fee is paid to other miners to conform the transaction) Right now, there are very few transactions going through bitcoin network, so pretty much anyone will validate that transaction, sometimes when the network is busy, the other pools do not include our transaction in their blocks, ( Becuase the attached fee is so low) so we will confirm our own transaction in the next block we find ( Dec and Jan was pretty bad for this)

Once it is confirmed at 100 blocks, the payment is sent, and each miner gets their share. This is done for each block that this pool finds.

The 5Nd ramp that everyone has to go through is basically you get paid based on the amount of shares submitted in the past 5 times the difficulty ( number of shares) so right now it is about 10 days. This gets shorter when the pool is bigger. and longer when the pool is smaller, or when difficulty goes up. You get paid for all the shares, but they are delayed. This prevents pool hopping. On the flip side, if you ever stop mining, you will still get paid for the ramp down for the same reasons ( but declining ) If you lose internet connection for a bit, it doesnt really affect your earnings as much, becuase it is the average over the past 5Nd not just that last hour or so like other pools use.