Topic: [∞ YH] solo.ckpool.org 2% fee solo mining 256 blocks solved! - page 84. (Read 102344 times)
if anyone is up to it; https://bitcointalksearch.org/topic/sell-your-hash-power-to-me-5448475
Quote
think of it as playing 1 dollar on a three digit number and getting paid 1025 to 1
low cost
high risk
high reward
under paid = investment
or playing 1 dollar on a three digit number and getting paid 975 to 1
low cost
high risk
high reward
overpaid = gambling
low cost
high risk
high reward
under paid = investment
or playing 1 dollar on a three digit number and getting paid 975 to 1
low cost
high risk
high reward
overpaid = gambling
In my state, they have a pick 3 digit lottery game. and it pays 500 to 1
. 50% house edge. I still play it sometimes, my same numbers. And i have won here and there, but over the long run I have lost due to the 50% house edge. I would be better off spending that money renting hashpower at a low reasonable price. Renting on nicehash is a MUCH BETTER odds than my state lottery game, when you bid low and don't overpay. I think you only get 10 days though for the order before it expires. So if too many people are overpaying, i think it is possible you never get your hashes, and then you lose out on the 3 or 4% nice hash fee. you can always adjust up your bid, but then you are at risk of overpaying. 
Using the cost of a cup of coffee in your hand and the 24-hour lottery draw, waking up one day and suddenly becoming a rich life is also a good story (only if the cost of the cup will increase in the future and the computing power T value will really decrease over time)
There's a huge difference between running a cheap lottery year round, versus dumping $50K daily in the hope of poor double or nothing odds. Quote
are you guys sure you didn't do KYC? how??
Hmm, it was a long time ago, i think i did kyc tier 1. i think i had to upload my drivers license. but i really dont remember. KYC tier 2 is needed if you use their "team mining" and hit a block to withdraw the reward (and maybe for other reasons like withdrawing btc you have deposited). I dont want to do any more than necessary so i didn't try team mining as i dont want to do tier 2. I dont remember exactly what tier 1 consisted of... maybe someone who did it more recently can elaborate.
KYC required
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2
are you guys sure you didn't do KYC? how??
I dont want to clutter the thread with nicehash discussion if it bothers ck or anyone, so i tried to direct message you, but you dont accept from newbies. Here is what i tried to say:
It is only showing zero because the mining power is going to the highest bids. PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash). Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes. It is ok to temporarily have no hashpower. IT means you are not overpaying. Each individual hash (or "share") is a shot at solving a block. Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc. Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block. So don't think it will be easy to just rent and get rich.
It is only showing zero because the mining power is going to the highest bids. PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash). Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes. It is ok to temporarily have no hashpower. IT means you are not overpaying. Each individual hash (or "share") is a shot at solving a block. Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc. Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block. So don't think it will be easy to just rent and get rich.
exactly
i am renting 100 ph at proper price.
think of it as playing 1 dollar on a three digit number and getting paid 1025 to 1
low cost
high risk
high reward
under paid = investment
or playing 1 dollar on a three digit number and getting paid 975 to 1
low cost
high risk
high reward
overpaid = gambling
I know 6250 plays of 0.001 should hit a block and I would profit because I paid low.
Vs 6250 plays of 0.0001 should hit a block and I lose because I paid high.
Obviously it is more complex but it is something to pass time for me.
KYC required
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2
To enable Hash-power orders you need to complete Know Your Customer (KYC) procedure Tier 1 or 2
I dont want to clutter the thread with nicehash discussion if it bothers ck or anyone, so i tried to direct message you, but you dont accept from newbies. Here is what i tried to say:
It is only showing zero because the mining power is going to the highest bids. PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash). Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes. It is ok to temporarily have no hashpower. IT means you are not overpaying. Each individual hash (or "share") is a shot at solving a block. Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc. Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block. So don't think it will be easy to just rent and get rich.
It is only showing zero because the mining power is going to the highest bids. PhillipMa bid a very low amount, so he is not being overcharged (smart/the correct way to rent on nicehash). Therefore, he has to wait patiently until the high bids have all their btc used up, then miners will migrate to lower bids and eventually he will get his hashes. It is ok to temporarily have no hashpower. IT means you are not overpaying. Each individual hash (or "share") is a shot at solving a block. Whether you have them all sequentially right away, or whether you have a little, then you have zero, then you have a little, etc. Is the same. As long as you get the total number of shares by the end, you got what you paid for. But CK is certainly right that many many people rent and never solve a block, compared to the few people who rent and do solve a block. So don't think it will be easy to just rent and get rich.
Using the cost of a cup of coffee in your hand and the 24-hour lottery draw, waking up one day and suddenly becoming a rich life is also a good story (only if the cost of the cup will increase in the future and the computing power T value will really decrease over time)
There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
there are methods to almost make it a high risk high reward but at not unfavorable odds.
If you don't understand game theory my talk may go over your head. but here goes. Look at the image.
what is the benefit of renting from someone that has eh/s speed 0.00000?
There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
there are methods to almost make it a high risk high reward but at not unfavorable odds.
If you don't understand game theory my talk may go over your head. but here goes. Look at the image.
Notice I offered only .259
There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
700 PH on nicehash roughly costs $52,500 per day how much does it cost on average for miners?
There seem to be quite a few newcomers to solo mining thanks to the recent spate of blocks found here, who don't quite understand some things so I'll try to make it clear:
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
Solo mining is gambling.
Unless you personally own at least 700PH with some kind of depreciation/deprecation plan, the vast majority of miners will lose money mining solo. (This estimate of required hashrate will go up as bitcoin difficulty rises.)
Renting hash long term and mining solo will never make a profit, as the rented hashes will end up costing you more than any rewards you make.
can you also tell me how to bid correctly? and what's the difference between limit and speed? because sometimes I see the ehs speed lower than the limit does that mean this miner have some hard or software failures?
It seems like most of your recent questions are related to "how to use Nicehash", it would be great if Willi or someone else who uses the platform very often can write a topic explaining how to use the service, it's pretty simple but the fact that you have to ask all these questions suggests that many people struggle to use it but are afraid to ask.
most of the videos related to it are very old unfortunately, and the error I had it has no results on google so, yes that would be perfect if they create it.
can you also tell me how to bid correctly? and what's the difference between limit and speed? because sometimes I see the ehs speed lower than the limit does that mean this miner have some hard or software failures?
It seems like most of your recent questions are related to "how to use Nicehash", it would be great if Willi or someone else who uses the platform very often can write a topic explaining how to use the service, it's pretty simple but the fact that you have to ask all these questions suggests that many people struggle to use it but are afraid to ask.
I personally have not found blocks while renting solo on nice hash. But i have sent a fair amount of btc to my nicehash wallet to try! I was super lucky to be a member of Willi's block party a few runs ago, when we found a block 
. I think it was 12 people who contributed to the group rental and split the reward. It was block 780525. 
I have seen several people hit by renting. You can see if you look back far enough in this thread. There was a person from russia who only rented 5PH and hit, within the last couple months, but then he posted that due to some virus or malware, someone stole most of his BTC . Also you can see from past posts that someone renting a huge amount of hashpower hit two blocks, not too long ago. That person never stepped forward, but they certainly have balls of steel for how much they spent on rental, as was noted above by others. It paid off though with two blocks! It is definitely possible. but it is a gamble. If your electric rate is too high for home or hosted mining, you are better off just renting on nicehash, in my opinion. You have to be careful not to overpay on nicehash though. The mining power goes to the highest bidder, and some people overpay, especially recently. So you have to bid a reasonable amount, and be patient to wait and get your hashes once the overpriced bids run out. I would guess that many, if not most, of the 273 solved blocks on the pool are from rentals.
. I think it was 12 people who contributed to the group rental and split the reward. It was block 780525. I have seen several people hit by renting. You can see if you look back far enough in this thread. There was a person from russia who only rented 5PH and hit, within the last couple months, but then he posted that due to some virus or malware, someone stole most of his BTC . Also you can see from past posts that someone renting a huge amount of hashpower hit two blocks, not too long ago. That person never stepped forward, but they certainly have balls of steel for how much they spent on rental, as was noted above by others. It paid off though with two blocks! It is definitely possible. but it is a gamble. If your electric rate is too high for home or hosted mining, you are better off just renting on nicehash, in my opinion. You have to be careful not to overpay on nicehash though. The mining power goes to the highest bidder, and some people overpay, especially recently. So you have to bid a reasonable amount, and be patient to wait and get your hashes once the overpriced bids run out. I would guess that many, if not most, of the 273 solved blocks on the pool are from rentals.thank you for the response
can you also tell me how to bid correctly? and what's the difference between limit and speed? because sometimes I see the ehs speed lower than the limit does that mean this miner have some hard or software failures?
I personally have not found blocks while renting solo on nice hash. But i have sent a fair amount of btc to my nicehash wallet to try! I was super lucky to be a member of Willi's block party a few runs ago, when we found a block . I think it was 12 people who contributed to the group rental and split the reward. It was block 780525. I have seen several people hit by renting. You can see if you look back far enough in this thread. There was a person from russia who only rented 5PH and hit, within the last couple months, but then he posted that due to some virus or malware, someone stole most of his BTC . Also you can see from past posts that someone renting a huge amount of hashpower hit two blocks, not too long ago. That person never stepped forward, but they certainly have balls of steel for how much they spent on rental, as was noted above by others. It paid off though with two blocks! It is definitely possible. but it is a gamble. If your electric rate is too high for home or hosted mining, you are better off just renting on nicehash, in my opinion. You have to be careful not to overpay on nicehash though. The mining power goes to the highest bidder, and some people overpay, especially recently. So you have to bid a reasonable amount, and be patient to wait and get your hashes once the overpriced bids run out. I would guess that many, if not most, of the 273 solved blocks on the pool are from rentals.
. I think it was 12 people who contributed to the group rental and split the reward. It was block 780525. I have seen several people hit by renting. You can see if you look back far enough in this thread. There was a person from russia who only rented 5PH and hit, within the last couple months, but then he posted that due to some virus or malware, someone stole most of his BTC . Also you can see from past posts that someone renting a huge amount of hashpower hit two blocks, not too long ago. That person never stepped forward, but they certainly have balls of steel for how much they spent on rental, as was noted above by others. It paid off though with two blocks! It is definitely possible. but it is a gamble. If your electric rate is too high for home or hosted mining, you are better off just renting on nicehash, in my opinion. You have to be careful not to overpay on nicehash though. The mining power goes to the highest bidder, and some people overpay, especially recently. So you have to bid a reasonable amount, and be patient to wait and get your hashes once the overpriced bids run out. I would guess that many, if not most, of the 273 solved blocks on the pool are from rentals. Oh that is probably it. If you are lucky, when enough time elapses you will be fine to go ahead with rental, without needing their help. I accidentally locked my account at one point and reset my password, and I was unable to place orders for a period of time due to password reset, and it wore off automatically and I didn't need to wait to hear back from them. Good luck!
how is your experience with nh so far, have you got any blocks?
Oh that is probably it. If you are lucky, when enough time elapses you will be fine to go ahead with rental, without needing their help. I accidentally locked my account at one point and reset my password, and I was unable to place orders for a period of time due to password reset, and it wore off automatically and I didn't need to wait to hear back from them. Good luck!
Hmm, no but there is this page: https://www.nicehash.com/support/general-help/organizations/organzation-permissions
Are you a member of an "organization" on nice hash? IF so, the organization owner has to give you permission to place a rental order, according to that page. If not, then that seems like a strange error to receive and maybe you should just contact nicehash support either way.
Are you a member of an "organization" on nice hash? IF so, the organization owner has to give you permission to place a rental order, according to that page. If not, then that seems like a strange error to receive and maybe you should just contact nicehash support either way.
i sent them a support ticket but they may take a couple of days to reply
however, i have a feeling that it is because i enabled the 2FA which they website says locks the wallet for 24 hours that might be the reason that not allowing me to use the funds and showing that strange error
will wait to see what they say
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