Nicehash Not So Nice

[notbatman]

Not so happy with this service, massive fees + TX fee stole half of the BTC I sent.

* 0.012 BTC deposit.

* Used 0.001 BTC worth of hashing power.

* Withdrew and got 0.004 BTC back.

They basically took over half my money and I got nothing in return.

[1714056471]

1714056471

[philipma1957]

Not so happy with this service, massive fees + TX fee stole half of the BTC I sent.

* 0.012 BTC deposit.

* Used 0.001 BTC worth of hashing power.

* Withdrew and got 0.004 BTC back.

They basically took over half my money and I got nothing in return.

You are suffering from  the high tx fee issues that we all are.

Although   that seems to be excessive

from their site

 "Withdraw all my BTC
   Withdraw
0.5% or 0.005 BTC (whichever is bigger) fee will be applied. Confirmed balance must be minimal withdraw amount 0.001 plus fee."


the bolded number is huge  if you do not have much to take out  which was your case.

If I do a rental I put in around .1 btc knowing I am spending it all.  As I will not withdraw from them and pay that fee.

Basically  they are looking for us to spend all that we put in.  Due to the network wide high tx fees

[notbatman]

Not so happy with this service, massive fees + TX fee stole half of the BTC I sent.

* 0.012 BTC deposit.

* Used 0.001 BTC worth of hashing power.

* Withdrew and got 0.004 BTC back.

They basically took over half my money and I got nothing in return.

You are suffering from  the high tx fee issues that we all are.

Although   that seems to be excessive

from their site

 "Withdraw all my BTC
   Withdraw
0.5% or 0.005 BTC (whichever is bigger) fee will be applied. Confirmed balance must be minimal withdraw amount 0.001 plus fee."


the bolded number is huge  if you do not have much to take out  which was your case.

If I do a rental I put in around .1 btc knowing I am spending it all.  As I will not withdraw from them and pay that fee.

Basically  they are looking for us to spend all that we put in.  Due to the network wide high tx fees

It's more than just btc TX fees, that .005 is on deposit and withdrawl and on top of the TX fee. I was hoping for a bit more hashing power as I'm going get cooked alive if put any more rigs online but I didn't like how their hashing market is set up and of course the outrageous fees.

edit:

They also sent the BTC without enough fee so I'm still waiting on my remaining satoshis many hours later. These guys are clearly not looking for any new customers.

[icon73]

Basically  they are looking for us to spend all that we put in. 

I think this is spot on.  They want you to encourage you to spend everything you deposit.

[freeyourmind]

Not so happy with this service, massive fees + TX fee stole half of the BTC I sent.

* 0.012 BTC deposit.

* Used 0.001 BTC worth of hashing power.

* Withdrew and got 0.004 BTC back.

They basically took over half my money and I got nothing in return.

You are suffering from  the high tx fee issues that we all are.

Although   that seems to be excessive

from their site

 "Withdraw all my BTC
   Withdraw
0.5% or 0.005 BTC (whichever is bigger) fee will be applied. Confirmed balance must be minimal withdraw amount 0.001 plus fee."


the bolded number is huge  if you do not have much to take out  which was your case.

If I do a rental I put in around .1 btc knowing I am spending it all.  As I will not withdraw from them and pay that fee.

Basically  they are looking for us to spend all that we put in.  Due to the network wide high tx fees

May I ask what you are using the hashing power for (mining pool?) and what the profitability is that you've experienced? 

[MadCoinMaker]

Chinese ruin everything! They should not be allowed to be involved as far as mining.

[freeyourmind]

Chinese ruin everything! They should not be allowed to be involved as far as mining.

Free market for a decentralized currency dude.  It's there for anyone to dominate.  As soon as you want rules like that, you need a governing authority, and eventually you will have special interests at the cost of everyone else.

[loshia]

Chinese ruin everything! They should not be allowed to be involved as far as mining.

Not exactly
1. First our greed ruined everything. ALL ASIC companies took advantage of our money,  preorders and stuff.
2. The difference was that most Eu and US companies did one time deal and took a lot of money (scam). But some of the Chinese ones did not scam everyone immediately. instead they build their business on top screwing up their clients simultaneously There is always someone to buy their old power hungry USED crap (sold as new) meanwhile new chips and miners are connected to network.Very Very Nice business model:) And do not forget free electricity in china provided by Comrades:)
It is like that one year roi according to their calculations means infinity if you pay for electricity and people buy it
3. As people say if you like it fine if do not like it go and F**K O*F. Generally speaking free market dude;)