Bitcoin Forum

so first I downloaded the 2.0.1 and it works with AMD and it worked fine, in fact it was so good that I switched to it.
and today there was an update and I figure "hey, better to keep updated" and nowhere did it say that as of that update
the nicehash 2.0 would not support AMD anymore and I had to switch to "legacy" 1.8 to the old UI that never truly worked
for me much, and this is 2 weeks from next payment date, so I dunno if I lose all that I mined so far cause of their dropping
AMD GPU support.

thanx Nicehash for the nice screw you message

so luck has had it that I save all my downloaded files and found the old 2.0.0.12 beta
and installed it and it still runs of AMD cards, so, yeah, lesson is, do not upgrade blindly,
make sure you know what your updating into.

Just mine your coins directly and avoid Nicehash. You are losing alot of money to them due to fees.

I have no idea why would someone use nicehash

Why don't you just go back to 2.0.1 ?

Just read up on this...seems its all to do with claymore's miner flagging AV warnings (sounds bs, but that's the official line).
Basically they are saying use NHM2 for Nvida, and use Legacy for AMD cos it's faster for AMD anyway.
I have to say i agree, NHM2 works great on my Nvidia rig, and it's always claymore i have issues with, and Legacy works great and is faster on my AMD rig.
As for your coins, providing you are mining to same wallet address i can't see why you would have any issues.

I also agree with other posters, whilst nicehash is "easy" due to its massive is even worse for payouts. You would be much better using it as a benchmark tool, log your hash rates then gomine the exact coins you want. Bit more work, but you can easily earn twice as much.

J

Is Nicehash really that bad? Opinions on them appear to differ depending on who you ask.

NiceHash is really good, especially for smaller operations. It's very hard to chase the most profitable coins by mining on pools if you don't have a bunch of rigs because by the time you're able to cash out, exchange rates will have changed and the difficulty will rise while you're mining. With NiceHash, you get paid per share, so you reap the results of price pumps instantly and with no risk. Their fees are very low for pay per share too, and they save you the cost and time of having to exchange your altcoins.

Are you a Nicehash rep?

Nope, just a happy customer :)

Marthor,

Very suss about your comments.
I have used NH with a small rig, and it can take weeks to hit their new withdrawl threshold....i agree it is for newbies who don't want a complex life, but for example with MH i mine 30-50K sat a day, however In the last 2 hours i have mined, traded and moved to my wallet 165K (after all fees).
No comparison

For people who have a gaming rig with 1 or 2 gpu's that they want to put to work while they sleep or go to work/school, it'll be less of a hassle and about equally profitable to use nicehash. They don't have to deal with exchanges, no settings of pools, not chasing the best coin and switching algo's several times per day etc.

I don't use Nicehash and it has been a while since I used it since I'm a full time miner now, but there's definitely a market for NHM.

I sell hash to nicehash.  They are fine if you understand how they operate

That is me, using my gaming computer to earn some extra coin, and I tried using the farming for ETH and Decred and then having to go through different exchange rates etc and
in the end I found that Nicehash actually is more money for me and less hassle to exchange etc.

That is what I ended up doing, uninstalling and installing from the old exe file, and not updating

NiceHash often pays more. It allows you to instantly switch between different coins even for the same algorithm. For Dagger, Ethereum, Ethereum Classic, Ubiq, Musiccoin, and Expanse are at various times the most profitable. For Equihash, it's Zcash, Zclassic, Hush, and Zen. And then there are other algorithms like Neoscrypt, Lyra, and Cryptonight, all of which have multiple coins. If you're trying to chase these coins by mining on a pool, it's a hassle and will likely fail anyway.

Mining at Nicehash has some advantages over direct mining. You know excactly how much you will get paid
with no risk of orphans, luck or exchange volatility.

Which is more profitable depends entirely on market conditions which change constantly.

i always mined without nicehash using claymore...

but from the version 2.0.1.0 well i totally passed to nicehash.

it use my 1060 3gb so far so well mining dual fantastically.

i do 8.70 eur day with new nicehash 2 miner nvidia (it use own miner inside excavator)
with claymore i do about 7.90/7.70 day dual mining this with my 6x 1060 3gb its a lot more and 1% fee more is justified i think

i was going crazy never know what to mine so i decided to use 2 rigs for eth only and 2 rigs for nicehash (bitcoin) only so i will earn half and half btc/eth
i would like mine all coins and if i would have done with monero now i had lotsa money but ou cant see the future so i think ihmo that eth and btc will remain very strong!

Why even mine on nicehash? There are a lot Multialgo Profitswitching pools out on which you can make a much better peofit...

Any examples? I use NH quite a bit, as peeps have said, it does save a lot of faffing, admittedly for a fee.

The best profit you get with dual mine eth+dec

Well for example etc is often more profitable than eth. So look for a multiminer that switches for most profitable coin. Miningpoolhub for example

I just ran my own tests using nicehash and the payouts were about 30% less than just mining the coins directly.  Nicehash is junk. Or they are stealing your shares. In either case don't use it unless you're ok with 30% less profits.

Oh btw trying to chase profits by pool hopping or using nicehash or multi miners to pool hop and only mine "the most profitable right now" doesn't work the way it seems. First, almost all altcoins use PPLNS distribution algorithm. This negatively affects pool hoppers since the profits are averaged with previous rounds you've mined (or rather, not mined). . You'll earn about 30% less. Second , it's even exacerbated by the fact tbat all these multi miners all switch to the same coin at the same time instantaneously driving up the difficulty spiking it to a point that much less blocks are found and tada once again less profits for you.  Oh and on top of that, the sheer act of continuously disconnecting and reconnecting to different coins/pools means more downtime aka less profits. Plus if you don't have specific OC for each algorithm then again less profits. You'll make much more money picking a good coin and mining it directly and just sticking with it vs any of this auto switching software.

I mine with nicehash and i earn the same if i mine directly the coin. Maybe 1% less not 20%

 Their profitability varies a lot - sometimes good, sometimes bad, depending on what folks are offering on their market for each specific algorithm at the time - and they are OFTEN high profit on one and low on another.

 Keep in mind they are a MARKET for hash, not a pool as such.

That means the buyer of your hash earns the same as you without power bill. Minus nicehash fees.

i am not so sure about it. it depends you lose about 2% mining on nicehash than directly the coin i can tell youi this because i have 4 identical rigs 2 mining on nicehash and 2 mining on ethermine pool and they earn the same at the end of every month

Try mining something that not everyone else is mining, much more fun, much more profitable. Just not necessarily here and now.
One of the best tips i can tell you it to jump into the pool the pooh hoppers have just left...difficuly suddenly drops, and you can mine some serious volume, then when they return the price goes up....
As with all things, it takes a certain "nack" but it's so much more fun.

And how do you do that? Which miner are you using?

i realize this thread is about NH, however, I just wanted to let people know my experience and benefit. I used NH for a while...the new 2.0 version was an improvement over the older one that crashed for me on some coins...then I tried WinMiner...and never looked back...WinMiner makes me MORE money than NH, and is much more stable and seems to work much better...at least for me.

Payouts are to Paypal, iTunes Gift card, BTC, or ETH. You can go with Paypal for fiat payout if you wish, but you have to dox yourself to do so (they want name, address, etc)

You can choose your base fiat currency into which your mining is immediately sold, so you keep a stable fiat total, but then when you withdraw into BTC or ETH they have to buy the coins and send them to you, and you pay exchange fees. But they are working on adding cryptos as a base currency, so you can have your mining saved in BTC for example, so you save the exchange costs, but are then open to value fluctuations against fiat.

site: http://winminer.com/

thread: https://bitcointalk.org/index.php?topic=2004875.0

I do not work for them nor involved with them...im just a happy customer who wanted to share my experience with others...try it out and see if it makes you more money than NH.

well i follow and i tried winminer since the first day... but the payments are always 10% less than mining with nicehash. with nicehash i getting 18 euro day same rigs with winminer i get 16

Well that sounds interesting i think ill give it a try! Thank you for sharing your experienxe with winminer miningpool

my favorite at this time is prohashing.com . They autoswitch Scrypt and X11 coins. I think they froze new applicants at this time due to system overload, but keep trying they will open it back up sooner or later. They have issues with uptime sometimes, so make sure you have a backup 2nd and 3rd choice on your miner to fall back on so you arent wasting electricity mining to a dropped connection. They let you set payout in any of dozens of coins to choose from, auto-converting to your chosen coin (if one) or coins (you can choose more than one and the % proportion)

My second is hash-to-coins.com (aka H2C). They auto switch Scrypt coins only. Also, they do NOT autoconvert to other coins...you build up a balance in dozens of coins as the pool switches. If you like to keep diversified coinage, this is good for you. If you prefer payouts in one coin, you will have to go through the manual process to withdraw the coins to your favorite exchange or via something like shapeshift.io or changelly.com and convert them to what you want to hold on to. Obviously this can be a pain so in this case prohashing is best.

Next is multipool.us . They auto switch SHA-256, Scrypt, and X11 coins, along with their corresponding merge-mined coins. Like Hash-to-coins they do NOT autoconvert to a payout coin, so you will end up with a variety of coins as the pool switches. They have a much smaller coin selection for each algo than prohashing or H2C, but they do offer SHA-256 switching (including between BTC and BCH as the difficulty swings make one more profitable than the other), which the two pools above do not. (As an aside, pool.viabtc.com also offers autoswitching between BTC and BCH).

each has its own fee structure, so review them to see what fits best. H2C has 0% fees, but have a donation % you can set when withdrawing coins.

Hope this helps.

for example? I'm almost newbie on that

see my post #35 above yours :)

One simple technique i do to maximize profitability is manually switching from NiceHash to Claymore.

When BTC value dips, i switch to nicehash. When BTC value is up, i switch to claymore dual ETH/SIA.
This way, its like im already trading while mining. Youre welcome. 8)

So who are the actual buyers of the hash from nicehash, and others?

I've bought BTC hash from nice hash in the past, but that was part of a speculative lottery-type pool.  Who is actually buying alt-coin hash?

 The people that place bids in the Nicehash marketplace are the hash buyers - when their bid is high enough to go active.

There are three different ways to get coins, which is the best one changes daily.

1) buy them
2) buy mining hardware and mine them
3) buy hash and mine them

I will give you an example:

You think xmr is going to shoot up and you want to invest $10,000, are you going to

1) buy xmr
2) buy gpu´s and cpu´s and start building rigs
3) buy hash and start mining right now without hassle and power costs

Best way is to run your own private pool where you point that hash, hardest part nowadays is to get large cheap fixed order through, need to do some bot fighting.

edit: forgot to say, some people buy hash from nicehash and sell it on some other renting sites. Buy low, sell high=profit ))

Do you still have the 2.0.0.12 beta?
Can't find a download link, mind sharing a copy?

My mining career is only 2 weeks old. Mining with the gtx1070 in my gaming rig. Used nicehash miner for 2 weeks (not 24/7, but 75%) undervolted and slightly overclocked. So far ive made £15. I did start using the legacy version yesterday to see different performance with alternative mining programs, my forecast profit did go up on legacy.

In time, if i build a 5 or 6 card rig... id probably pop that on nice hash... its quick and easy. BUT... in the time till then, ill be doing my homework on other ways to mine and make profits