Stupidy of nicehash. | Bitcointalksearch.org

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: OgNasty on November 19, 2024, 02:15:11 PM

I went ahead and KYC’d to continue using NiceHash. I never thought I would because I don’t agree with it, but my house is cold and I need the heat. My GPU operation isn’t massively profitable or anything so taxes isn’t really a concern there. Mostly I just don’t agree with KYC but that’s where the industry is headed. Might as well get on board now.

I will always find any other service, but I will never give my data to mining services.
https://bitcointalksearch.org/topic/btc-5457533
https://bitcointalksearch.org/topic/--5516906

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

I went ahead and KYC’d to continue using NiceHash. I never thought I would because I don’t agree with it, but my house is cold and I need the heat. My GPU operation isn’t massively profitable or anything so taxes isn’t really a concern there. Mostly I just don’t agree with KYC but that’s where the industry is headed. Might as well get on board now.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: JayDDee on October 31, 2024, 05:23:04 PM

Quote from: FP91G on October 31, 2024, 06:44:58 AM

There are definitely dumbasses in the management of the company. First they offered Russian users to complete KYC, and then they announced that from November 12 it will no longer be able to support users from Russia.

By introducing KYC they will be able to identify country so will have to abide by sanctions against Russia, seems like a lose-lose situation.

I don't agree that this is a lose-lose situation for everyone. There are a lot of alternatives for any miner, as well as many pools that do not care what country the miner is from. But many large pools have Russian servers despite the sanctions.
https://bitcointalksearch.org/topic/btc-5457533

Easteregg69

sr. member

Activity: 1572

Merit: 267

See if mining rig rentals has any demand for your hashes.

batsonxl

member

Activity: 1201

Merit: 26

Ok if someone cant withdraw there is one solution.
You need to close your account then you can withdraw what is left in your wallet.
Dont pay fees to them.They got way fat anyway.

Really A Genius

newbie

Activity: 28

Merit: 1

I dont care about the monthly inactive fee that nicehash has recently introduced but it's the fact they did this to take a fee from accounts that can't be used by the account holder because they will not allow the account holder to complete KYC.
And because they won't allow the account holder to complete KYC nicehash they will eventually drain the account empty with there fees.
It's a clever scam and how they live doing that is despicable.

JayDDee

full member

Activity: 1424

Merit: 225

Quote from: FP91G on October 31, 2024, 06:44:58 AM

There are definitely dumbasses in the management of the company. First they offered Russian users to complete KYC, and then they announced that from November 12 it will no longer be able to support users from Russia.

By introducing KYC they will be able to identify country so will have to abide by sanctions against Russia, seems like a lose-lose situation.

FP91G

legendary

Activity: 1834

Merit: 1131

NiceHash is Relocating To Switzerland!

Dear NiceHash Users,

We are delighted to announce an exciting development in the evolution of our company, that NiceHash will be moving to a new home in the crypto valley, Zug, Switzerland.

This move brings forward a new era for NiceHash, one which brings us focus to our strengths and core values; Mining. As the world’s largest hashpower marketplace, we are here to provide all our customers with the best service and peace of mind, and relocating to a country with an advanced regulatory framework, historical financial prominence, and industry experts helps us fulfill this.

This change brings forward several structural changes, such as an increase in regulatory requirements, that we believe are a net positive for the mining industry, and we are proud to be at the forefront of this movement.

How this will affect you:

Starting November 4th, users without completed KYC verification will be unable to deposit or withdraw funds. To ensure uninterrupted access to all services, please complete KYC by this date.
As of November 12th at 11:00 UTC, KYC will be fully mandatory, and users without it will no longer be able to mine, or access any other NiceHash services.

https://www.nicehash.com/blog/post/nicehash-is-relocating-to-switzerland?lang=en

There are definitely dumbasses in the management of the company. First they offered Russian users to complete KYC, and then they announced that from November 12 it will no longer be able to support users from Russia.

batsonxl

member

Activity: 1201

Merit: 26

Quote from: paid2 on October 25, 2024, 07:05:11 AM

Nicehash will even charge you for having an inactive account lol

Better to avoid this shit IMHO.

Quote from: paid2 on August 31, 2024, 03:20:33 AM

It looks like Nicehash has gone even further in making bad decisions...

I just came across this on Reddit:

LOL!
@Nicehash, are you really going to make people pay for having an inactive account??

Otherwise I've learned from your blog that you're going to stop providing exchange services to focus on hashrate rental and mining services. So there will be no more FIAT managed by you, should assume that you will therefore stop forcing your users to go through KYC?

It is called nicecrap now Grin

What happened to them, i used to love their service.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

Who cares, Nicehash is already dead from a lot of time if you ask me, they have done a lot and they have thrown a lot away by themselves, there are other platforms which are better and I also have much more options regarding the payment to which currency I want to be paid which is a very nice one and one of such platform is Unmineable, I know they have to do a lot regarding offering more algorithms to mine as they have almost nothing in Cryptonight related algorithms but they are doing pretty well from a lot of time and 0 KYC needed, just setup your miner, configure it and start mining, no questions asked and the rewards will be paid directly to your wallet of your choice, once a day at 01:00 UTC if you qualify for minimum payment. The coin that I choose to be paid with 70 Mhsh of Ethash power is Litecoin and the minimum is 0.00075 LTC which you can achieve in less than a day.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: Stalker22 on October 24, 2024, 01:25:53 PM

Quote from: FP91G on October 21, 2024, 11:38:44 AM

Coin withdrawals via Lightning Network are very cheap, why don't you use it?
https://www.nicehash.com/support/general-help/service-fees/withdrawal-fees
If you don't like Lightning Network, you can always use Dogecoin (DOGE).

Im not sure if that option was available the last time I used NiceHash, or why I left those funds there. When I received the first notification about an inactivity fee, I tried to withdraw the funds. However, I was then prompted to complete a full KYC verification. It wasnt worth it.

I don't know how it works, but one miner writes that he recently withdrew coins with no problems, and another miner writes that he is required to pass KYC. I recommend everyone to try it and then make a decision. The good thing is that nicehash has many alternatives

paid2

hero member

Activity: 504

Merit: 1065

Crypto Swap Exchange

Nicehash will even charge you for having an inactive account lol

Better to avoid this shit IMHO.

Quote from: paid2 on August 31, 2024, 03:20:33 AM

It looks like Nicehash has gone even further in making bad decisions...

I just came across this on Reddit:

LOL!
@Nicehash, are you really going to make people pay for having an inactive account??

Otherwise I've learned from your blog that you're going to stop providing exchange services to focus on hashrate rental and mining services. So there will be no more FIAT managed by you, should assume that you will therefore stop forcing your users to go through KYC?

batsonxl

member

Activity: 1201

Merit: 26

Sure there nothing to hide, but why i need kyc for mining? Open 2 platform exchange and mining pools like binance does.you dont need kyc for that. Ok if you try pass nichehash stupid kyc process it is asking address proof which not accepting. They have no idea every country gives different type address.they think every country has standard address. Even you show your address they say it is not address Grin

I just tring to say this is total BS!
Looks like nicehash got under tight regulation.
Anyway just wanted to let people know to withdraw your fund before november 1.

Stalker22

legendary

Activity: 1526

Merit: 1359

Quote from: FP91G on October 21, 2024, 11:38:44 AM

Coin withdrawals via Lightning Network are very cheap, why don't you use it?
https://www.nicehash.com/support/general-help/service-fees/withdrawal-fees
If you don't like Lightning Network, you can always use Dogecoin (DOGE).

Im not sure if that option was available the last time I used NiceHash, or why I left those funds there. When I received the first notification about an inactivity fee, I tried to withdraw the funds. However, I was then prompted to complete a full KYC verification. It wasnt worth it.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: OgNasty on October 22, 2024, 01:04:15 PM

Quote from: zekk on October 18, 2024, 08:33:51 PM

I can't even withdraw now before 1. Nov without going through KYC.

Wow. Is this true for everyone? I think I have a couple hundred bucks sitting on Nicehash from running GPUs when I need the heat. It would suck to think those coins are going to be stuck forever. I’ll have to look into this and see if there’s anything that can be done. I’m not big on providing KYC if it isn’t necessary.

The mandatory requirement to withdraw coins by November 1 does not work for all users. I've been in contact with Russian miners and a lot of them have recently withdrawn their coins without KYC. I would advise you to hurry up.
Nicehash doesn't need negative reviews either for the couple hundred dollars they will take from the miner.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: zekk on October 18, 2024, 08:33:51 PM

I can't even withdraw now before 1. Nov without going through KYC.

Wow. Is this true for everyone? I think I have a couple hundred bucks sitting on Nicehash from running GPUs when I need the heat. It would suck to think those coins are going to be stuck forever. I’ll have to look into this and see if there’s anything that can be done. I’m not big on providing KYC if it isn’t necessary.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: Stalker22 on October 20, 2024, 03:45:57 PM

Quote from: JeromeTash on October 17, 2024, 04:37:20 PM

Quote from: ccplz on October 16, 2024, 07:00:02 PM

Quote

Inactive NiceHash account: Service Fee has been charged
Dear NiceHash user,

Your NiceHash account has not seen any activity since the previous notification and therefore your account was considered inactive.

A monthly service fee for inactive accounts has been applied to your account. You can check the amount of the fee under 'My Settings' -> 'Statements'.

hahaha those guys are going full villain, holy shit. i am totally going to pay for my inactive account

I guess it's time to abandon ship. This is pure madness! Grin

Even most exchanges that I know that handle lots and lots of different kinds of crypto from different sources do not do that, then what's so special with them

Its not even about the money so much, but those greedy bastards didnt even enable withdrawals from user accounts before they introduced this rip-off fee. They are trying to squeeze every last penny out of their users. I abandoned that ship a long time ago, but apparently the amount in my account was too low to withdraw it, so they decided to just take it from me. Undecided

Coin withdrawals via Lightning Network are very cheap, why don't you use it?
https://www.nicehash.com/support/general-help/service-fees/withdrawal-fees
If you don't like Lightning Network, you can always use Dogecoin (DOGE).

Stalker22

legendary

Activity: 1526

Merit: 1359

Quote from: JeromeTash on October 17, 2024, 04:37:20 PM

Quote from: ccplz on October 16, 2024, 07:00:02 PM

Quote

Inactive NiceHash account: Service Fee has been charged
Dear NiceHash user,

Your NiceHash account has not seen any activity since the previous notification and therefore your account was considered inactive.

A monthly service fee for inactive accounts has been applied to your account. You can check the amount of the fee under 'My Settings' -> 'Statements'.

hahaha those guys are going full villain, holy shit. i am totally going to pay for my inactive account

I guess it's time to abandon ship. This is pure madness! Grin

Even most exchanges that I know that handle lots and lots of different kinds of crypto from different sources do not do that, then what's so special with them

Its not even about the money so much, but those greedy bastards didnt even enable withdrawals from user accounts before they introduced this rip-off fee. They are trying to squeeze every last penny out of their users. I abandoned that ship a long time ago, but apparently the amount in my account was too low to withdraw it, so they decided to just take it from me. Undecided

miner29

full member

Activity: 1275

Merit: 141

Quote from: JeromeTash on October 17, 2024, 04:37:20 PM

Quote from: ccplz on October 16, 2024, 07:00:02 PM

Quote

Inactive NiceHash account: Service Fee has been charged
Dear NiceHash user,

Your NiceHash account has not seen any activity since the previous notification and therefore your account was considered inactive.

A monthly service fee for inactive accounts has been applied to your account. You can check the amount of the fee under 'My Settings' -> 'Statements'.

hahaha those guys are going full villain, holy shit. i am totally going to pay for my inactive account

I guess it's time to abandon ship. This is pure madness! Grin

Even most exchanges that I know that handle lots and lots of different kinds of crypto from different sources do not do that, then what's so special with them

Most likely location dictates thier legal requirements. The world is getting smaller and fewer exchanges are out of the governments controls.

zekk

jr. member

Activity: 69

Merit: 1

I can't even withdraw now before 1. Nov without going through KYC.

Topic: Stupidy of nicehash. (Read 528 times)