Topic: Why people are using nicehash? - page 2. (Read 2407 times)

Thread was not started about sellers of hash power, but buyers I'm also interested is it profitable to buy hash power in situations other than appearance of new coins and price peaks. Or you mine and just wait for higher price?

Are you sure you did the right thing. Just my advice for comparison try to install the old version software and new version. Perhaps the old version will bring you more income. I always use nicehash. I like it, but it seems to me that programmers who are working with this service very bad. I've never met them prograne software without bugs.

I started out with NH like a lot of other newbies and switched to NHLM when it came out.

I have since switched to nvOC and was mining ZEN for a good while and holding.  Then sold when it hit $13 (yes I should have waited until it hit $26 for double the profit, but I pulled the trigger to soon).  At any rate, I still did well.

Since then, I have been locked in on mining ZEC exclusively and about once every week or two, I exchange my ZEC holdings for BTC.  I try to time it to when ZEC is peaking, but it can be tricky.

I have 7 rigs that between them have:

21x 1080Ti
9x 1070
3x 1070Ti
5x 1060 3GB
7x 1050Ti

I'm pulling in about 0.35 ZEC per day on average.

After reading this thread, I'm tempted to try NH again so see if I'd do better.  I know I'm missing out on profitable alts for short bursts when they happen, but as others have mentioned, I have a day job and don't have time to switch 7 rigs around to mine whatever is the most profitable at any given time.

Because they don't want to be complicated, don't have time to change coins manually or just nicehash their knowledge

I totally agree. NiceHash has been, by far, the most lucrative alternative for me as I have a day job and cant actively monitor the "altcoin market" and switch to whatever coin is most profitable at any given time.

i think only newbies who got attracted by the lucrative market of cryptocoins get involved in it and then after suffering a few losses they either quit nicehash or quit crytocurrencies.. nicehash basically profits from the low knowledge of investors and rips them of their money..

I know this is off subject but how do u turn bitcoin to your gift cards. I have been looking for ways to turn bitcoin to cash. Gemini seems like the way.  I was going to do debit cards but since the visa shit seems like all bitcoin debit cards do not work in the us.

Funny how I just posted something like this in another thread...

Bottom line is I'm not lazy, I want convenience to transform electricity into a widely accepted form of currency the fastest way in order to achieve ROI.  Others can call it what they want, it doesn't bother me.  If pool miners would honestly document their time + fees + management of multiple wallets + blah blah blah and compare it to NH you might be surprised.  I made a killing with new forks pulling 2x my daily BTC reward...all while pools bent miners over...hmmm BTG launch for a recent example?  I made mad money on that fiasco for days while every pool but suprnova screwed 100% of all hashing power with 0 or little payouts...

I know they charge higher fees, I accept that fact because there is no free lunch.  I didn't go balls deep in mining to hodl a coin at $0.02 or ICO praying for liftoff to the moon.  I intend to get to ROI as fast as possible.  Once the business case makes good, then I can hobby mine some and hodl and play the long game.  I see my mining rig as a money pump and using my anology, the least amount of moving/complex parts to make that pump work is my objective.

I am mining with 7 x 1070 + 2 x 480 and pull in $25USD daily [@ current BTC price], 24 hour average paid directly in BTC...  all while mining all possible GPU based algorithms, with one program/setup all on the same rig.  4 more 570 on standby going live this week and plan for over $33 USD/day once live.  I hold 1 wallet, no exchange crap necessary and convert directly to gift cards to either buy more hardware, groceries or other living expenses.  My 13 gpu rig has much time invested to tweak to extract max hash per watt.  Just because I use NH doesn't mean I'm stupid and rock my shit at 100% TDP with default clocks... I can't speak for the other noobs though, lol.

Do you mean the nicehash miner or the nicehash pool?
I use the pool because it is easier to just get paid in btc, even if they pay a little less, getting payed in other coin and then converting it to btc takes some fees anyways.
I don't use their miner to mine, but I do use their legacy miner to do benchmarks.

I don't see where hashing sellers are really losing much. Nicehash's fees are maybe 1-2% higher than a normal pool but with nicehash you auto switch to the most profitable algo on the market. For instance when Electroneum launched recently it was extremely profitable to mine, and without having to know anything about it, deal with faulty pools or anything, I got extra profit on the spot for about three days that more than made up for their extra fee %.

Don't get me wrong dude, I don't use nicehash miner, I just used their pools, I have already done my calculations and it turn out that I do take more profits from it than holding alts and trade, its just suit in my requirement I guess.

that's good to know

I use Nicehash because is super easy to setup and I always want to receive my payments in BTC whenever possible. I know how to mine directly in Equihash EBWF CUDA miner and also on Claymore 10.2 Dual Miner but I prefer Nicehash for the simple reason that I don't have to go through exchanges in order to exchange my Ethereum or Zcash for Bitcoin and paying several times the fees, fees for exchange and fees for withdrawal.

A lot of PPLNS-only pools can scam miners by claiming to have bad luck. NiceHash is pay per share, which means it's easy to verify that they are paying you properly. I always use pay per share pools if I can, even if the fees are slightly higher.

nicehash is easy to use but sometimes theoretically is more profitable. so using it is just simply and sometimes profitable.

I am on nicehash this week since the bitcoin outpaced anything else. I have found that mining other pools can be far more unreliable and confusing. I did not make as much money mining XMR last week as I am making on nicehash this week. For example it sucks when you are stuck trying to find a block after 2 days and getting capped at max effort and then...blaaa blaaah... convert to bitcoin in the end anyway. I found that some pools scam you and don't actually pay you what you mined so there are other risks as well in dealing with someone who is not as established.

I run all AMD so cryptonight works best for me. I will take any recommendations for good XMR or cryptonight based currencies that pay well.

Nicehash is easymode. Start program to mine and get paid in btc.

* = the reason why I pointed my rigs at nicehash for some time during the first few days of ETN.  So many orders were being placed for cryptonight hash that it was impossible to stay away.

I find that NiceHash pays more in the end, and it's much easier to use.

Like most miners I started with NiceHash but switched to pool mining after a while. But after doing some comparisons, I found that NiceHash paid at least as much, if not more, and it paid in the currency I wanted -- Bitcoin.

Still, mining on your own is far better. You need to ready/study/try/fail, that gives you an experience that
you can later use to your advantage.
Using nicehash is easy, but other than earning a bit of btc it doesn't make your rich, doesn't give you experience.
Nicehash are enriching themselves because you pay some fees there.