Hi Everyone,
Is there any advantages to using any other pool besides nicehash for mining NeoScrypt with Awesome Miner?
I guess the differences are ---
Fees...
Pay-out currency...
pay-out timing....
Low fees with NiceHash, pays out in BTC (can be good or bad - I want to hear your arguments) & pays out daily. I don't see any downsides, but I want to make sure I am not missing something. (Still new to this)
NiceHash offers more consistent, but usually lower payouts, for any algorithm than other pools because NiceHash really isn't a pool. It is a marketplace where buyers rent your hash rate and direct it where ever they like. You get paid a set amount and the buyers get paid out from whichever pool they chose. Since all pool mining involves a some luck regarding the number of coins that are found, the buyer assumes all risk that the actual earnings will be below the pool estimates, but also gets all the reward if the pool pays out higher than their estimates.
Since NiceHash is a marketplace, its prices are limited to what buyers are willing to pay for each algorithm. Often buyers are willing to pay less than what you would get if you were to mine directly because they want to maximize their profit. Also, buyers may not be that interested in a particular algorithm like Neoscrypt when other coins based on other algorithms are more popular, further reducing your potential earnings.
Your unpaid balance on NiceHash will accumulate faster than unpaid balances on other pools because NiceHash doesn't have to wait for coins to mature and then be exchanged in order to pay you for your hash rate. However, others pools typically have lower transaction costs and minimum payout balances than NiceHash.
My personal experience is that some other pools give consistently higher earnings than NiceHash, but you really need to do some research and pick a solid pool that at least tries to provide accurate price estimates.
