Re: [~40PH] KanoPool kano.is 0.9% fee 4.3of 10BTC giveaway 🐈 US,UK,JP,NYA,OR,DE,SG
If you only normally make a 10% profit for 100% luck, then September profit was over 400% of your usual profit.
i.e. if you normally make 10% of 100% then your costs are of course 90%, so Sept was 134% - 90% = 44%
and since you normally make 10% that's 4.4 times your normal profit so 440% of your normal profit in September.
Simple math - though usually it requires a little accounting understanding.
Total/Gross income doesn't mean much, it's Net that matters
Anyway, as rifleman pointed out and can be seen I specifically stated
Anyway, with the price dropping to about half, unless you were doing better than 50% as profit, that would mean you're losing money no matter what - so the pool luck isn't much of an excuse anyway.
i.e. if you normally make 10% of 100% then your costs are of course 90%, so Sept was 134% - 90% = 44%
and since you normally make 10% that's 4.4 times your normal profit so 440% of your normal profit in September.
Simple math - though usually it requires a little accounting understanding.
Total/Gross income doesn't mean much, it's Net that matters
Anyway, as rifleman pointed out and can be seen I specifically stated
Quote
If luck evens out 100%, then you OBVIOUSLY need to take the good with the bad ...
Anyway, with the price dropping to about half, unless you were doing better than 50% as profit, that would mean you're losing money no matter what - so the pool luck isn't much of an excuse anyway.
Actually the profit in this pool in September wasnt the question Ive asked.
I asked how did you calculate that the profit was double than any other pool? If for example the luck in September was 100% in another pool and here it was 134% how would it make it more than double of profit? Is it because of the 0.9% fee compared to lets say 2%?
And yes, if I wasnt making 50% clean profit back then I would probably loose some money after electric bill nowadays, but It would still cover most of my electricity bill by the end of the month, when here if we get only half of the expected blocks by the end of the month, that would leave me with thousands of dollars to pay from my pocket, which I dont have. I think I explained MY situation pretty clear and I really dont care how others pay to run their miners, Im just sharing my case.
Besides. I dont know how long is the ramp up time these days but I definitely wouldnt have the 10-20k to pay the electric company up front the first month.
And Kano, I would love to hear your comment on why so many miners have left last month. You think it was because of the drop of BTC price or did it have something to do with the pools luck?
The mining has become an industrial level business and it is very hard to stay afloat if you dont have a couple hundred grand stashed away to gamble with. But I dont have more money to gamble with other than what Ive made almost all in the Casino Kano.
Dont get me wrong guys, I dont have nothing against Kano pool, simply because it has made me more than 20 BTC in like a year with just 3 s7s at the beginning and then I added only like 7-S9s. These days of course I have a quite a few more and can only wish I had them all a year ago!
I miss those days when we were getting like 12 blocks per day with just like 20PH!
Merry Christmas to all and a Happy New Years.....