Buy and sell hash rates? How this works? Why someone won't use them instead of selling them?
There are different reasons, here are a couple of them: - BTC Payouts - This allows for buyers to pay in BTC for hashrate. For example, you could be selling KawPow (Ravencoin) hashrate and receive payment in BTC instead of Ravencoin.
- Algorithm Versatility - Buyers use the algorithm hashrate to mine different coins (like NeuroAI, Ravencoin, CLORE) and handle switching between these for sellers. This simplifies mining and ensures you're always selling to the highest bidder, which could mean mining the most profitable coin on that algorithm.
- High Demand for Hashrate - Some buyers particularly seek out hashrate for reasons such as taking risks on solo mining. They may bid higher for available hashrate, resulting in better payouts than traditional pool mining.
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Hello BitcoinTalk Community, We're excited to announce a significant development in the mining industry from NiceHash - the introduction of the term RTPPS (Real Time Pay Per Share)! This innovative approach builds on the familiar PPS (Pay Per Share) system, taking it a step further to better meet the needs of modern miners. What is RTPPS?
RTPPS stands for Real Time Pay Per Share. It's our unique twist on the well-known Pay Per Share model. This system is specially designed to enhance the mining experience by offering real-time rewards for miners. It's a game-changer in the mining world, providing unprecedented flexibility and freedom in how miners operate. Why RTPPS?
Our RTPPS model is more than just a payout system; it's a testament to our commitment to improving the mining industry. It allows miners to buy and sell hashrate in real time, giving them more control over their operations. This approach not only benefits individual miners but also contributes to broader bitcoin adoption. Key Benefits:
- Real-time rewards: Get paid for your mining efforts as they happen.
- Flexibility: Buy and sell hashrate on your terms.
- Improved mining experience: A modern system for the modern miner.
Join the Revolution:
This is an exciting moment for us at NiceHash and for the entire mining community. We're proud to be leading the charge in evolving mining practices, and we invite you to be a part of this journey. To learn more about RTPPS and how it stands to revolutionize the mining industry, visit our detailed blog post: Introducing RTPPS: Unique Mining Reward System https://www.nicehash.com/blog/post/introducing-rtpps-unique-mining-reward-system?utm_source=BitcoinTalk&utm_medium=Post&utm_campaign=RTPPSWe're eager to hear your feedback and see how RTPPS will empower your mining operations. Let's pave the way to a more efficient and rewarding mining future together! Best, The NiceHash Team |
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You don't need KYC for mining, only for buying hashpower. We also recently added a feature to auto withdraw mining earnings where you can set an external wallet.
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Kaspa miners can take advantage of the NiceHash kHeavyHash stratum to sell their hashrate. You can mine anonymously and get higher earnings directly in Bitcoin, or open an account and enjoy advanced mining statistics & reporting, frequent payouts, fast & cheap Bitcoin Lightning Network withdrawals and other advantages of the platform. Kaspa mining has seen a lot of interest since the addition of ASICs to the network, and on the NiceHash social media accounts we are running a contest to win KS0 miners this month, feel free to enter. Find out how to connect your miners on the link below: https://www.nicehash.com/asic-mining |
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Do you have the plan to support Canaan units? I mean newer Canaan units?
Most of the newbies that I heard having issues trying to mine in Nicehash pool both non/ASICboost pool.
Canaan units until now do not work in your pool based on what I heard from some users on other forum.
Thanks for letting us know. We were not aware of this and received no reports. As far as we were aware, the Avalon miners 11xx series worked ok. We will perform tests with the A13xx series. If someone is experiencing issues, feel free to let us know via our Discord channel where we can chat in realtime. https://discord.com/invite/nicehash |
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NiceHash is offering solo mining through buying packages of hashrate. We call it EasyMining since anyone with BTC can buy these packages and have a chance of hitting a full block reward. https://www.nicehash.com/my/easymining/Basically, you can buy a package for $2 to $200 worth of BTC and have a probability of 1:74000 to 1:740 of hitting a block. The reward is paid to your BTC wallet address of your choice (inputed before setting up an order). This also allows NiceHash to pay the miners (sellers of hashrate) more than mining to any other pool. Since the launch of EasyMining. We paid 6% more to the sellers (miners) than mining Bitcoin via pool. |
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I have made account on Nicehash a long time ago but before 1 year ago my account was banned because I have mined almost 0.1 BTC for free and they do not wamt to give it to the uses for free. And that's the thing that I just do not like about Nicehash. And I was very very tearful about this if they might have given such money and it might help me a lot. And that's why I have not gotten any mining power than is just Cloud.
We do not ban accounts without a valid reason. If you believe the reason your account was banned is not justifiable, please contact support@nicehash.com and we will help you re-activate your account. |
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NiceHash is paying 6% more than mining Bitcoin traditionally via a pool. Here is an explanation of how this is possible:
Your blog doesn't mention anything about merge mining. I expect the percentage is quite lower if you consider merge mining (such as Rootstock and Namecoin). 6% is on the SHA256AsicBoost algorithm. Not all algorithms. |
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Živjo!  The graphs that show the luck percentage are not necessary accepted shares. They are solutions that were on a way of being a correct solution. For example, 50% luck means that you "solved" 50% of the job. If the solution to the job equals to 10 zeroes (0000000000), that means that you got 5 of those right (000005ha72). But the required difficulty might need 7 zeroes (00000007sa). That is how a simple way of explaining how the graph displaying percentages is calculated. žívijo @Nicehash  I appreciate the opportunity to talk with you directly. I have rented a lot of hashrate from you. I am globaly satisfied of the hashrate marketplace, I am a little disappointed about Nicehash actualy. Doesn't your Easymining program only serve to artificially inflate the price of rented Eh/s? The hashrate used by Easymining is always rented well above the average price on your site. This increases the auction price no ? I mean if you rent hashrate to newbies, I agree that you need to take a fee, but to guarantee your Easyminers to have a constant hashrate, you place orders with super expensive price per Eh/s. Not super honest IMO. Other thing, I bought some Easymining packs to discover what you are proposing. In my previous position I had to analyse the hashrate rental's market. I bought a lot of Easymining because of this. The screen showing your luck, is TOTAL bullshit. Almost every time the screen will show you "you submitted a share of x T difficulty, that's not possible. Look : https://imgur.com/vJkStwUAre you telling me that EVERY time I buy a Gold Easymining 2usd pack I submit a share > 10T ? Do you have some magical power ? Why do you lie to newbies about their luck in mining ? Is your goal to generate addictives behaviors ? I wish you a good day |
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NiceHash payrate is 6% more than mining Bitcoin traditionally via a pool. Here is an explanation of how this is possible: 1️⃣ NiceHash is a hashpower marketplace. Buyers are placing orders for hashrate. Orders can be manipulated by increasing or decreasing price and speed or canceling them. 2️⃣ NiceHash Buyers are solo mining NiceHash helps ordinary users with almost zero Bitcoin knowledge to participate in mining and potentially confirming a block of transactions by buying hashrate. This can be done in a very user-friendly way with just a couple of clicks. For example, buying a package of SHA256 hashrate for $200 currently gives a user probability of 1:608 to confirm a block and earn a full Bitcoin block reward. 3️⃣ Higher Bitcoin ASIC miner payrates Buyers of hashrate are paying a premium price for hashrate and thus increasing the average payrate for the sellers (miners). This is how much Bitcoin you would earn if you would mine at NiceHash: ❇ 5.59% more in the past 7 days ❇ 4.31% more in the past 30 days ❇ 6.33% since September Learn more: https://www.nicehash.com/earn-more-with-nicehash |
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While NiceHash is not a pool, we do offer referral for influencers. https://www.nicehash.com/mining-affiliateNote that we do offer the best payrate for SHA256, Scrypt and Equihash. Miners earn about 5-20% more on NiceHash than mining directly. |
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Of course, you can stop whenever you want, but a PPLNS pool may penalize you a little when you're back. So you may have to read more about PPS/FPPS/PPLNS/PPS+ and whatever methods exist and see what is best for you.
NiceHash uses PPS and pays for each and every accepted share. Even if just one share is sent from the miner to NiceHash. You can mine for 1 minute and then disconnect for 1 hour if you wish. You will not get penalized. https://www.nicehash.com/support/mining-help/earnings-and-payments/what-is-the-pps-reward-system |
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We actually have an article for this exact question: https://www.nicehash.com/support/hash-power-marketplace/general-help/why-would-someone-buy-hashing-powerOne of the most frequently asked questions is definitely: "Why would someone buy hashing power?". There are several reasons why people buy hash power at NiceHash, rather than buy the coins directly or buy cloud mining contracts.
*Buyers have done their math, tested different luck factors on pools and reward schemes, and are buying hashing power as an investment to obtain coins at cheaper rates.
*Buyers can buy massive hash power and get it delivered in a short amount of time.
*The order that the buyer places lasts from a few minutes to a maximum of 10 days, which decreases the risk of drastic changes over time in comparison to cloud mining contracts.
*Pool owners buy hash power to increase the luck of their pool or to test the mining performance and compatibility of their pool. |
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I can't help but laugh, oh and by the way, did you happen to repay the hacked amount?
Yes, we reimbursed the hacked amount. 100% of the lost funds were repaid. We actually had to reimburse 122% as we had to pay Slovenian tax above the actual amount. The hack made us stronger. Our investment in security is probably far higher than any other crypto company. Another important thing considering security is the use of signed miner. Excavator (QuickMiner) is in-house built. It is not developed by an unknown developer. Using software from unverified sources could be an issue for some users using the miners on personal PC. We offer them a secure way of mining with QuickMiner. |
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