Topic: [ANN] NiceHash.com - sell & buy hash rate cloud mining service / multipool - page 240. (Read 794394 times)
August 25, 2014, 10:11:51 AM
I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?
August 25, 2014, 09:14:47 AM
After further analysis I'd HIGHLY suggest Nicehash disable their API, implement captchas for making new orders, remove the ability to modify hashpower, disallow people from refilling orders, and increase order cancellation fees to 5-10%.
Maybe you should also HIGHLY suggest to ban multipools (they are an essence of coin difficulty arbitrage) and coin exchange APIs (bots steal good prices!). Also, imagine there are exchanges running arbitrages themselves! This all should be banned!
Yeah, that's what arbitrage does - targets market inefficiencies and destroys them. You will have live with it.
(I am not running arbitrages of any kind myself).
Every once in a while a comrade shows up in one of these hash rental threads explaining how some magic market regulation is going to solve all their imaginary problems. I'm surprised that no one has started a fully regulated politically correct hash rental service. It should be a great success based on these theories.
August 25, 2014, 06:51:38 AM
Since there is so few miners on westhash, orders below them never get filled and despite their order having relatively little amount of bitcoin (to reduce cancellation fees)
AFAIK order cancellation fee is fixed (0.0001 BTC deducted from returned fee). So having orders with little amount of bitcoin does not help to reduce any fees.
August 25, 2014, 06:34:24 AM
Why not just make payouts once a day.... and a minimum of .05btc...?
Also, if a miner hasnt met the .05btc after 5 days then trigger payout for whatever amount he is owed.
Or something to that affect...
I would suggest pay daily if it reaches 0.01, once a week pay the rest owed.
August 25, 2014, 06:31:35 AM
After further analysis I'd HIGHLY suggest Nicehash disable their API, implement captchas for making new orders, remove the ability to modify hashpower, disallow people from refilling orders, and increase order cancellation fees to 5-10%.
Maybe you should also HIGHLY suggest to ban multipools (they are an essence of coin difficulty arbitrage) and coin exchange APIs (bots steal good prices!). Also, imagine there are exchanges running arbitrages themselves! This all should be banned!
Yeah, that's what arbitrage does - targets market inefficiencies and destroys them. You will have live with it.
(I am not running arbitrages of any kind myself).
August 25, 2014, 05:58:34 AM
Something else I suggested weeks back. Have a password parameter such as "t=0.01" to set a payment threshold of 0.01 BTC. Take the lowest received value of that parameter as the valid threshold. This way, a bad actor could cause a payout to occur before the user wished but there is no way to delay the payout. If no bad actor is involved then the user has control of when their payout occurs.
I typically get one payout per day. I'm afraid of what the transaction fee is going to look like when I finally collect all this dust and try to spend it.
This might not be a bad idea. I support the movement to increase the payout threshold for everybody or make it user configurable. I also have a lot of dust in my wallet
August 25, 2014, 05:43:40 AM
Nicehash ... please make payout amounts changeable.
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
Something else I suggested weeks back. Have a password parameter such as "t=0.01" to set a payment threshold of 0.01 BTC. Take the lowest received value of that parameter as the valid threshold. This way, a bad actor could cause a payout to occur before the user wished but there is no way to delay the payout. If no bad actor is involved then the user has control of when their payout occurs.
I typically get one payout per day. I'm afraid of what the transaction fee is going to look like when I finally collect all this dust and try to spend it.
August 25, 2014, 04:41:54 AM
It has been explained few pages back. But if you think it is possible, let us know your solution (we need detailed technical solution that is possible to be realized according to existing limitations of mining software and targeting pools).
Anycast.http://en.wikipedia.org/wiki/Anycast
August 25, 2014, 04:32:33 AM
After further analysis I'd HIGHLY suggest Nicehash disable their API, implement captchas for making new orders, remove the ability to modify hashpower, disallow people from refilling orders, and increase order cancellation fees to 5-10%.
As it currently stands right now Nicehash is being completely manipulated by arbitrage bots. They push other legitimate buyers out of the market by disallowing them hashpower and then push prices to the bottom by readjusting their hashpower again. This sort of manipulation leads prices to bottom out at the point where miners manually remove their hashingpower from the market because it reaches power break even prices.
This sort of manipulation is killing not only coins (as their demand fluctuates based on difficulty), but also will slowly and absolutely kill off hashing in general as it will equalize around power prices, which will further push miners out of the market as they can't make money anymore. There will be no bottom line as the amount of hashing power decreases, the amount of income increases, which will lead the abritrage bots to further push the prices down onto power break even. They will not let up, it's automated; they maximize their income, not miners. There is no ROI on arbitrage bots, there is no power prices.
Since Nicehash controls so much hashing power and is effectively the graveyard for miners before they're decommissioned it will be a endless cycle. There are currently not enough coins to deal with all the hashing power such as what's happening with Halcyon right now. If there were enough profitable coins, it'd be different as it'd outstrip the amount of hashing power on Nicehash and prices would go up, but the BTC mining market is no where close to this.
I'd suggest miners move their miners to actual coins, such as Halcyon and do some research to find coins to mine if Nicehash does not proactively try to stop arbitrage on their pool. Arbitrage/bots are not good for anyone, completely putting aside the mess that is Westhash, this is a much bigger problem and will have far reaching consequences into the future.
As it currently stands right now Nicehash is being completely manipulated by arbitrage bots. They push other legitimate buyers out of the market by disallowing them hashpower and then push prices to the bottom by readjusting their hashpower again. This sort of manipulation leads prices to bottom out at the point where miners manually remove their hashingpower from the market because it reaches power break even prices.
This sort of manipulation is killing not only coins (as their demand fluctuates based on difficulty), but also will slowly and absolutely kill off hashing in general as it will equalize around power prices, which will further push miners out of the market as they can't make money anymore. There will be no bottom line as the amount of hashing power decreases, the amount of income increases, which will lead the abritrage bots to further push the prices down onto power break even. They will not let up, it's automated; they maximize their income, not miners. There is no ROI on arbitrage bots, there is no power prices.
Since Nicehash controls so much hashing power and is effectively the graveyard for miners before they're decommissioned it will be a endless cycle. There are currently not enough coins to deal with all the hashing power such as what's happening with Halcyon right now. If there were enough profitable coins, it'd be different as it'd outstrip the amount of hashing power on Nicehash and prices would go up, but the BTC mining market is no where close to this.
I'd suggest miners move their miners to actual coins, such as Halcyon and do some research to find coins to mine if Nicehash does not proactively try to stop arbitrage on their pool. Arbitrage/bots are not good for anyone, completely putting aside the mess that is Westhash, this is a much bigger problem and will have far reaching consequences into the future.
August 25, 2014, 02:40:52 AM
They need to get rid of the ability to change requested GH as well. This is silly, there is an entire column of place holders right now on x15 operating at .05 GH when a hour ago they were operating at infinite or 4GH. This really fucks with the difficulty on coins as someone has obviously wrote a easy auto-script to decrease GH at a certain price when difficulty goes up. Why is there even a API allowed for Nicehash? It just encourages manipulation and completely flat lines the market, much like microtransactions/arbitrage for normal coins. There is no investment here, it's just scripts wrecking prices.
And Posting this again:
I've read the 'reasoning' given already and the tiny little differences in prices due to going over the oceans is downright silly. When you have people wrecking the entire economy and you complain about a little bit of efficiency loss because your OCD demands it, it doesn't help anyone out. As I outlined above, the pools could take care of most of the differences between geographic locations by intelligently allocating miners to orders with a bit of automation behind the scenes. The rest would be a wash, but it wouldn't amount to anything significant.
Due to the amount of hashing power nicehash has under its thumb, the consequences of what is happening here are far reaching. It affects every algo nicehash supports, which luckily still excludes some profitable algos (for miners).
And Posting this again:
There really needs to be more crossover between nicehash and westhash pools. Over the last week or so there has been one buyer running a script or spending a butt ton of time pushing everyone out of the x15 market simply by constantly changing their order and out bidding other people. Since there is so few miners on westhash, orders below them never get filled and despite their order having relatively little amount of bitcoin (to reduce cancellation fees) and ghash (so they only take the miners and not extra by having the pool auto-switch to them as most profitable) they can control the market. As soon as the other order leaves the market, they drop theirs down again. It starts all over again.
I assume it's automated as it seems to be going pretty much steady as long as I've watched the x15 market. This isn't good for nicehash, miners, or buyers.
I understand the idea of 'efficiency' by separating geographic locations, but I've been buying on nicehash using NA pools and it doesn't make THAT much of a difference. Since Nicehash is cloud based, it's entirely possible to sort miners based on their geographic location and appropriate them for a pool close to their location completely transparently to the buyers and the miners (such as a quick ping to the miner and the pool from two or three different geographic locations would locate the address approximately or with a IP lookup). Obviously there would be some cross-over, but since prices are already the same for both nicehash and westhash, it doesn't matter.
Whoever it is, is devastating the market though and solely controlling it. That obviously also influences prices on Nicehash.
I assume it's automated as it seems to be going pretty much steady as long as I've watched the x15 market. This isn't good for nicehash, miners, or buyers.
I understand the idea of 'efficiency' by separating geographic locations, but I've been buying on nicehash using NA pools and it doesn't make THAT much of a difference. Since Nicehash is cloud based, it's entirely possible to sort miners based on their geographic location and appropriate them for a pool close to their location completely transparently to the buyers and the miners (such as a quick ping to the miner and the pool from two or three different geographic locations would locate the address approximately or with a IP lookup). Obviously there would be some cross-over, but since prices are already the same for both nicehash and westhash, it doesn't matter.
Whoever it is, is devastating the market though and solely controlling it. That obviously also influences prices on Nicehash.
I've read the 'reasoning' given already and the tiny little differences in prices due to going over the oceans is downright silly. When you have people wrecking the entire economy and you complain about a little bit of efficiency loss because your OCD demands it, it doesn't help anyone out. As I outlined above, the pools could take care of most of the differences between geographic locations by intelligently allocating miners to orders with a bit of automation behind the scenes. The rest would be a wash, but it wouldn't amount to anything significant.
Due to the amount of hashing power nicehash has under its thumb, the consequences of what is happening here are far reaching. It affects every algo nicehash supports, which luckily still excludes some profitable algos (for miners).
August 25, 2014, 12:55:04 AM
Quote from: NiceHash
We may higher 0.01 BTC limit for payments to reduce dust. Let us know what you think.
What do others think ?
I myself think this can cause two things 1. less orders so price of mines drop or 2. orders stay the same just nh make more from cancelled orders.
I agree, i think 0.01 limit is fine as is, in fact i would prefer even less to be available, but i can see why that could be problematic.
This is not the order amount we are talking about, but payments to miners, which is now 3 times per day for balances >0.01 and one time per day for balances >0.001. We will up it and make 3 times per day for balances >0.04 (one time per day for balances >0.001 stays). Let us know if this suits you better.
I wonder why they don't listen and merge westhash and nicehash togheterr.
are they blind or something ?westhash is always pulling price down
are they blind or something ?westhash is always pulling price down
It has been explained few pages back. But if you think it is possible, let us know your solution (we need detailed technical solution that is possible to be realized according to existing limitations of mining software and targeting pools).
Why not just make payouts once a day.... and a minimum of .05btc...?
Also, if a miner hasnt met the .05btc after 5 days then trigger payout for whatever amount he is owed.
Or something to that affect...
August 24, 2014, 06:35:38 PM
Ahh yea I guess upping the ammount miners are paid is better for them with less fees you could even maybe if possible have your minimum but then offer to the miners their own minimum . So if they wanted to be paid when they reached 0.1 btc they could set that and save a few transactions.
August 24, 2014, 05:05:45 PM
Quote from: NiceHash
We may higher 0.01 BTC limit for payments to reduce dust. Let us know what you think.
What do others think ?
I myself think this can cause two things 1. less orders so price of mines drop or 2. orders stay the same just nh make more from cancelled orders.
I agree, i think 0.01 limit is fine as is, in fact i would prefer even less to be available, but i can see why that could be problematic.
This is not the order amount we are talking about, but payments to miners, which is now 3 times per day for balances >0.01 and one time per day for balances >0.001. We will up it and make 3 times per day for balances >0.04 (one time per day for balances >0.001 stays). Let us know if this suits you better.
I wonder why they don't listen and merge westhash and nicehash togheterr.
are they blind or something ?westhash is always pulling price down
are they blind or something ?westhash is always pulling price down
It has been explained few pages back. But if you think it is possible, let us know your solution (we need detailed technical solution that is possible to be realized according to existing limitations of mining software and targeting pools).
August 24, 2014, 04:42:14 PM
Quote from: NiceHash
We may higher 0.01 BTC limit for payments to reduce dust. Let us know what you think.
What do others think ?
I myself think this can cause two things 1. less orders so price of mines drop or 2. orders stay the same just nh make more from cancelled orders.
I agree, i think 0.01 limit is fine as is, in fact i would prefer even less to be available, but i can see why that could be problematic.
August 24, 2014, 04:35:56 PM
Quote from: NiceHash
We may higher 0.01 BTC limit for payments to reduce dust. Let us know what you think.
What do others think ?
I myself think this can cause two things 1. less orders so price of mines drop or 2. orders stay the same just nh make more from cancelled orders.
August 24, 2014, 10:04:02 AM
tell us dear admin from nicehash, why do we have to get paid less because of your other crap(west) hash 
August 24, 2014, 09:22:48 AM
I wonder why they don't listen and merge westhash and nicehash togheterr.
are they blind or something ?westhash is always pulling price down
are they blind or something ?westhash is always pulling price down
August 24, 2014, 07:42:06 AM
Nicehash ... please make payout amounts changeable.
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
+1
I have wallet full of dust.
August 24, 2014, 05:26:57 AM
Something wrong with servers nice or west. Miners hash rate not stable going up n down. Default no price password set. Tested other pool ok. Please fix.
August 24, 2014, 05:07:58 AM
Nicehash ... please make payout amounts changeable.
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!
+1
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