NiceHash or other pool mining? | Bitcointalksearch.org

iamnewhere

full member

Activity: 168

Merit: 100

Quote from: johnnymark_ on July 01, 2017, 03:45:06 AM

Yeah, that's exactly what I want to say. With nicehash you can't sell on your own and make more profit.
What mining pool are you using for ETH?

right now at ethermine.org - no outages till now and the rates look fine, tested also coinotron but they have higher payout limit and i usually try to take away my coins as fast as possible from pool to wallet

something additional to nicehash: a bit gambling you can do there too as e.g. right now BTC went bit down again so you can just keep your BTC you earn at nicehash and change later to $/EUR/whatever - so you can make bit more profit out of it by gambling with BTC exchange rate

johnnymark_

member

Activity: 69

Merit: 10

Quote from: iamnewhere on July 01, 2017, 03:41:59 AM

The software is nice and comfortable but it can cost you profit. With nicehash you mine and whatever you mine will be converted with current exchange rate to BTC.
If you mine on your own via pool you can mine on bad exchange rate and place a sell order with good exchange rate - if you are lucky you can get few days later 10-20% more for what you mined. Of course this is also always little bit gambling on better exchange rate later but thats how you squeeze out the profit from mining Wink

E.g. i mine currently ETH when it's only 1 ETH = $ 271, i will place sell order for at least 1 ETH = $ 370 - it might take some time, if i'm not lucky it'll never reach again that limit but if i am lucky i make nearly 40% more profit out of my mining Wink

- at nicehash i would just make that $ 271 out of it.

Yeah, that's exactly what I want to say. With nicehash you can't sell on your own and make more profit.
What mining pool are you using for ETH?

iamnewhere

full member

Activity: 168

Merit: 100

The software is nice and comfortable but it can cost you profit. With nicehash you mine and whatever you mine will be converted with current exchange rate to BTC.
If you mine on your own via pool you can mine on bad exchange rate and place a sell order with good exchange rate - if you are lucky you can get few days later 10-20% more for what you mined. Of course this is also always little bit gambling on better exchange rate later but thats how you squeeze out the profit from mining Wink

E.g. i mine currently ETH when it's only 1 ETH = $ 271, i will place sell order for at least 1 ETH = $ 370 - it might take some time, if i'm not lucky it'll never reach again that limit but if i am lucky i make nearly 40% more profit out of my mining Wink

- at nicehash i would just make that $ 271 out of it.

johnnymark_

member

Activity: 69

Merit: 10

Quote from: Elder III on July 01, 2017, 03:08:45 AM

NiceHash is very good if you want some software that is more or less "set and forget" and you don't have to worry about switching to whatever is more profitable since it will do that automatically. It's also nice to be paid in Bitcoins since that removes one of the steps that you typically need to take to turn your altcoins into fiat ($ Euro etc), so that's a bonus if you're mining to help pay your bills. etc....

If you are more experienced with cryptocurrencies and mining in general you will be able to make more money mining elsewhere, it just takes a bit more effort, time, and knowledge. You can always use Nicehash at first and branch out on your own once you're more experienced. You also may decide that the convenience is worth the lower profits too, that's up to the individual to determine. Wink

Yeah, it's a pretty nice software. But I mean, if a coin rises it would be good to have some coins in a wallet. That's why I asked

Elder III

sr. member

Activity: 1246

Merit: 274

NiceHash is very good if you want some software that is more or less "set and forget" and you don't have to worry about switching to whatever is more profitable since it will do that automatically. It's also nice to be paid in Bitcoins since that removes one of the steps that you typically need to take to turn your altcoins into fiat ($ Euro etc), so that's a bonus if you're mining to help pay your bills. etc....

If you are more experienced with cryptocurrencies and mining in general you will be able to make more money mining elsewhere, it just takes a bit more effort, time, and knowledge. You can always use Nicehash at first and branch out on your own once you're more experienced. You also may decide that the convenience is worth the lower profits too, that's up to the individual to determine. Wink

johnnymark_

member

Activity: 69

Merit: 10

Hey, what do you recommend? NiceHash and convert to BTC or pool mine and stick with coins mined?

Thanks.

Topic: NiceHash or other pool mining? (Read 714 times)