Topic: Advice from Negativ: Cloud mining - how to mine profitable (Read 662 times)

Announcing MyEtherWallet v3.24.00: Difficulty Bomb&Updating blockchain

Due to the complexity of the Bomb and the increased risk of hacking, we pushed a rather drastic update that implements a number of changes and improvements, including enhancement of efficiency and scalability of the blockchain, acceleration of transaction speed, and additional security in the form new formats private keys which will help protect users against hacking.
If you are using private key or UTC, then you need to go into the wallet and update manually, otherwise they risk being unprotected.

How do i update my Ethereum wallet?

1. Go to our website /]MyEtherWallet.com
2. Unlock your wallet using your Keystore File (UTC / JSON) or simply use your private key.
3. Click Unlock and wait for the update.

Please note that you need to manually update your wallet, failure to do so may result in funds being lost.

We are taking these measures to protect both you and our network from phishing and malicious attacks.

Thank you for your cooperation and understanding!
MyEtherWallet Security Team.

If you use other methods, then ignore this message.

Gentlemen, remind!
Starting with block 334656 low diff
try nisehash in solo mining

I gave an example in the article how you can earn on cloud mining. The problem was so simple that I declare that cloud mining is not profitable)
Because of the simple users who are trying to replace the order at any cost go to a very low price.

But if you have a powerful farm - this method will work for sure.

I do not recommend to do cloud mining because all in all, you will not making a profit with the site especially today, there is too many cloud mining site that claims they are legit one but the truth is they will run away after a few months later. it still better to buy a hardware and mining in our home but it depends on how much electricity fee that we should pay. maybe in a few years ago, cloud mining can give profit to you, but now, I don't think that you can get ROI in the short time.

Actually blocks are currently being found way too slowly. This would suggest the next retargeting will lower the diff quite substantially.

the easiest way: see how many people are mining now )
and see how much will mine on low diff .
The other question-when will change. It's hard to calculate exactly, only approximately. I think the next change of difficulty will happen tomorrow. Or tonight, if a lot of people come in.

Sorry I think you misunderstood.
What I meant is that you will know when the next difficulty retargeting will be (because you know there are 2016 blocks apart).
But how do you know whether it will retarget difficulty higher or lower (and by how much)? By comparing the actual time it took to mine these 2016 blocks vs the theoretical 2016 minutes?

there is a difference - you found 100 blocks per day or per hour.
If for an hour, the remaining 23 hours you will spend on mining something else.
the difficulty is how often you can find a block. On hi diff rarely, on low-often.

Ok, but how do you know the retargeting will lead to a substantially lower diff? In theory, if miners are finding blocks quicker, the re-targeting could be higher...?

thanks for the detailed answer )

in cloud mining prices are so high that mining on Nicehash was not profitable at all. I mine my farm.
Before that, it was profitable a few hours.

I'm counting )
RVN has difficulty changes every 2016 blocks.
Look the current block (e.g. 329790)
329790/2016=163.586
The next block will be:
164*2016=330624 low diff
165*2016=332640 hi diff
etc.

If you log in to nicehash you can use their platform to enter in various amounts of btc to mine with and it will tell you how long it will last.  May be possible without logging in... just click the "live marketplace" links but I think you might have to be logged in.  And then if you don't have btc in the account it will give a red warning but I think it will also still tell you how long that btc would mine for.  It just depends on the bid amount of btc you put towards it.

If you know the difficulty retargeting time then you can forecast when the next difficulty reset will be and this seems to line up with when the difficulty drops.  I think in the first post, Negativ specifies "2016" as a retarget time and that correlates to raven coin (and maybe other coins) difficulty retargeting strategy:  https://raven.wiki/wiki/FAQ   

Now consider the suggested time to mine a coin at block "326592" and divide that by 2016, interestingly enough it divides easily into a whole number of "162" times meaning by Negativ's description (and probably many others) that this (and probably many other) coin could have had 161 previous "low difficulty" mining opportunities before block 326592.  And in case wondering, 2016 blocks should work out to be just about 1.4 days between each reset.

It is an interesting strategy to consider.  It is also important to consider that many coins have much more frequent retargeting times so depending on any one miner's preferences this strategy may or may not work for them.  Just depends on what's a hot priority for the miner and what short-term goals they may have.  If a miner wants a specific coin that retargets difficulty every 30 seconds then this strategy doesn't really matter.  And yes, pretty sure that exists... there are also coins that simply recalculate difficulty on every block.

Also, how long will that 0.01 btc let you mine at 10GH? A day? Half a day? An hour?

Interesting. I saw the diff fall and stay low for several hours yesterday indeed. The question is: how are you able to monitor in advance when the next difficulty drop is going to happen?... Or rather, how do you know the diff is going to be substantially lower?

Gentlemen! Tomorrow on block 326592 shift diff. I recommend place an order for 0.01 btc for 10gh and wait. When most people have a stock of money-your orders will work.
All who do not believe in cloud mining - for you will also be a profitable day. Connect all your mining farms to the x16r algorithm and use the pool
https://rvn.suprnova.cc
or any other, what you like
z-enemy -a x16r -o stratum+tcp://rvn.suprnova.cc:6667 -u name.worker -p x
z-enemy - good miner

who loves the program nicehashminer - run algorithm under the x16r

Successful profit


upd. diff 10500!!! /4 )

x16s, xevan, c11?
nicehash is the mediator, he is always good, takes a percentage of the services

One chance to get profit then NiceHash is working - jumping with it on the same pools and coins. Another chance - mine algos, that NiceHash don`t sell(if they still are exist).

There is another possibility - waiting.
Wait for Nicehash users to run out of money.
After that, it will be possible to mine with low orders.