NiceHash is paying 6% more than mining Bitcoin traditionally - page 2.

NotATether

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If buyers are paying a premium, then whose going to buy these packages in the first place? It would be like buying very expensive lottery tickets except the prize is much lower, despite the probability being hundreds of thousands times more reasonable than winning the lottery.

Will it pay off in the long run? Probably not. Because:

Quote from: Daltonik on January 27, 2023, 11:29:11 PM

@willi9974 organizes mining in a fold by organizing mining lotto by renting power from NiceHash and then solo mining on the pool solo.ckpool.org and since 2015, we have managed to find 9 blocks, so it's better to do it together. https://bitcointalksearch.org/topic/bitcoin-mining-lotto-blockparty-2024-5364375

That equates to a little more than 1 block per year (assuming average distribution of blocks).

mikeywith

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be constructive or S.T.F.U

Quote from: kano on January 24, 2023, 02:56:28 AM

So I guess somehow they are paying lower than 100% PPS?
That would also make it impossible for miners to get 6% more than any large PPS pool.

Hmm, interesting.

"The devil is in the detail", the title says "is paying" so they were probably referring to that exact time of when they posted the topic, otherwise, it makes no sense, they have also made such a claim long ago when they were paying some crazy high number like 7x or so, and they were not lying about it, it did last for a while and I personally made some good profit on those days.

Whattomine.com keeps a good track of NH payments, the 3-day average for their Asicboost was 103%, and for non-ASICboost it was 163%, not sure why those folks pay that much to rent non-Asicboost, probably someone mining/attacking some small coin, but I have also witnessed many periods where Nicehash paid lower than 100% PPS, so it's a game of luck unless you are going to chase profitability, besides, you can't really connect to NH using a mining proxy (I have tried several before), so only small miners can actually use it.

nicehash

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NiceHash.com

Quote from: BitMaxz on February 01, 2023, 08:12:40 AM

Do you have the plan to support Canaan units? I mean newer Canaan units?

Most of the newbies that I heard having issues trying to mine in Nicehash pool both non/ASICboost pool.
Canaan units until now do not work in your pool based on what I heard from some users on other forum.

Thanks for letting us know. We were not aware of this and received no reports. As far as we were aware, the Avalon miners 11xx series worked ok.

We will perform tests with the A13xx series.

If someone is experiencing issues, feel free to let us know via our Discord channel where we can chat in realtime. https://discord.com/invite/nicehash

BitMaxz

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Playbet.io - Crypto Casino and Sportsbook

Do you have the plan to support Canaan units? I mean newer Canaan units?

Most of the newbies that I heard having issues trying to mine in Nicehash pool both non/ASICboost pool.
Canaan units until now do not work in your pool based on what I heard from some users on other forum.

nicehash

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NiceHash.com

Quote from: Maxre on January 28, 2023, 01:19:13 PM

I have made account on Nicehash a long time ago but before 1 year ago my account was banned because I have mined almost 0.1 BTC for free and they do not wamt to give it to the uses for free. And that's the thing that I just do not like about Nicehash. And I was very very tearful about this if they might have given such money and it might help me a lot. And that's why I have not gotten any mining power than is just Cloud.

We do not ban accounts without a valid reason. If you believe the reason your account was banned is not justifiable, please contact [email protected] and we will help you re-activate your account.

Maxre

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I have made account on Nicehash a long time ago but before 1 year ago my account was banned because I have mined almost 0.1 BTC for free and they do not wamt to give it to the uses for free. And that's the thing that I just do not like about Nicehash. And I was very very tearful about this if they might have given such money and it might help me a lot. And that's why I have not gotten any mining power than is just Cloud.

Daltonik

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@willi9974 organizes mining in a fold by organizing mining lotto by renting power from NiceHash and then solo mining on the pool solo.ckpool.org and since 2015, we have managed to find 9 blocks, so it's better to do it together. https://bitcointalksearch.org/topic/bitcoin-mining-lotto-blockparty-2024-5364375

nicehash

legendary

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NiceHash.com

Quote from: ?? on ??

Quote from: nicehash on January 23, 2023, 08:39:27 AM

NiceHash is paying 6% more than mining Bitcoin traditionally via a pool. Here is an explanation of how this is possible:

Quote from: nicehash on January 23, 2023, 08:39:27 AM

Learn more: https://www.nicehash.com/blog/post/nicehash-pays-better-how-and-why-nicehash-pays-better-than-mining-bitcoin-directly

Your blog doesn't mention anything about merge mining. I expect the percentage is quite lower if you consider merge mining (such as Rootstock and Namecoin).

6% is on the SHA256AsicBoost algorithm. Not all algorithms.

kano

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Linux since 1997 RedHat 4

The last 3 fun runs on my pool, over the last week, we've paid lower than 101% PPS on all of them, 2 were below 100%
That would make it hard to get 6% more than a pool, unless you assume pools are charging a 5% fee.
No idea of any pool charging 5%, and if they are, no one would be mining there.

Interesting

Quote

SHA256 hashrate for $200 currently gives a user probability of 1:608

Today at the current price of $23k per BTC, $200 would get you 0.00869565 BTC without paying any fees.
6.25 / 0.00869565 = 1 in 718.75 chance

So I guess somehow they are paying lower than 100% PPS?
That would also make it impossible for miners to get 6% more than any large PPS pool.

Hmm, interesting.

nicehash

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Živjo!

The graphs that show the luck percentage are not necessary accepted shares. They are solutions that were on a way of being a correct solution.

For example, 50% luck means that you "solved" 50% of the job. If the solution to the job equals to 10 zeroes (0000000000), that means that you got 5 of those right (000005ha72). But the required difficulty might need 7 zeroes (00000007sa). That is how a simple way of explaining how the graph displaying percentages is calculated.

Quote from: paid2 on January 23, 2023, 09:07:51 AM

žívijo @Nicehash Cheesy

I appreciate the opportunity to talk with you directly.

I have rented a lot of hashrate from you. I am globaly satisfied of the hashrate marketplace,

I am a little disappointed about Nicehash actualy. Doesn't your Easymining program only serve to artificially inflate the price of rented Eh/s? The hashrate used by Easymining is always rented well above the average price on your site. This increases the auction price no ?

I mean if you rent hashrate to newbies, I agree that you need to take a fee, but to guarantee your Easyminers to have a constant hashrate, you place orders with super expensive price per Eh/s. Not super honest IMO.

Other thing, I bought some Easymining packs to discover what you are proposing. In my previous position I had to analyse the hashrate rental's market. I bought a lot of Easymining because of this. The screen showing your luck, is TOTAL bullshit. Almost every time the screen will show you "you submitted a share of x T difficulty, that's not possible.

Look :

https://imgur.com/vJkStwU

Are you telling me that EVERY time I buy a Gold Easymining 2usd pack I submit a share > 10T ? Do you have some magical power ? Why do you lie to newbies about their luck in mining ? Is your goal to generate addictives behaviors ?

I wish you a good day

paid2

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Crypto Swap Exchange

žívijo @Nicehash Cheesy

I appreciate the opportunity to talk with you directly.

I have rented a lot of hashrate from you. I am globaly satisfied of the hashrate marketplace,

I am a little disappointed about Nicehash actualy. Doesn't your Easymining program only serve to artificially inflate the price of rented Eh/s? The hashrate used by Easymining is always rented well above the average price on your site. This increases the auction price no ?

I mean if you rent hashrate to newbies, I agree that you need to take a fee, but to guarantee your Easyminers to have a constant hashrate, you place orders with super expensive price per Eh/s.

Other thing, I bought some Easymining packs to discover what you are proposing. In my previous position I had to analyse the hashrate rental's market. I bought a lot of Easymining because of this. The screen showing your luck, is wrong. Almost every time the screen will show you "you submitted a share of x T difficulty, that's not possible.

I wish you a good day

nicehash

legendary

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NiceHash.com

NiceHash payrate is 6% more than mining Bitcoin traditionally via a pool. Here is an explanation of how this is possible:

1️⃣ NiceHash is a hashpower marketplace.

Buyers are placing orders for hashrate. Orders can be manipulated by increasing or decreasing price and speed or canceling them.

2️⃣ NiceHash Buyers are solo mining

NiceHash helps ordinary users with almost zero Bitcoin knowledge to participate in mining and potentially confirming a block of transactions by buying hashrate. This can be done in a very user-friendly way with just a couple of clicks.

For example, buying a package of SHA256 hashrate for $200 currently gives a user probability of 1:608 to confirm a block and earn a full Bitcoin block reward.

3️⃣ Higher Bitcoin ASIC miner payrates

Buyers of hashrate are paying a premium price for hashrate and thus increasing the average payrate for the sellers (miners).

This is how much Bitcoin you would earn if you would mine at NiceHash:

❇ 5.59% more in the past 7 days
❇ 4.31% more in the past 30 days
❇ 6.33% since September

Learn more: https://www.nicehash.com/earn-more-with-nicehash

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