NiceHash Mining Setup?

[adamantasaurus]

SO I'm just moving my gpu's over to nicehash to get paid in BTC I have 3 different rigs that I monitor from teamviewer (currently traveling) do I have to intstall the nicehash software on each rig or can I just install it on my laptop and remotely connect all 3 rigs?

Thanks

[DarrenJC]

Install on all rigs

[Undefined31415]

SO I'm just moving my gpu's over to nicehash to get paid in BTC I have 3 different rigs that I monitor from teamviewer (currently traveling) do I have to intstall the nicehash software on each rig or can I just install it on my laptop and remotely connect all 3 rigs?

Thanks

I think you'll have to install it on each rig. There's ways to automate the rollout to your rigs, but I don't see any reason not to do it manually for just 3 rigs.

[adamantasaurus]

Ok great thanks guys for the help, one more question if anyone can help me. I have evga gtx 1070's sc and sc 2's I have been mining ethereum until today i was ramping up my mem clock with MSI after burner to get the best hash rate do you guys know what settings I would have to mess with to get the best overall rate on nicehash?

Thanks

[leonix007]

this is a good read for 1070 users who shared their hashrates and clocks.

https://bitcointalk.org/index.php?topic=2054800.0

you don't need to install nicehash miner if you want to pay to BTC, you can use your existing miner Ex. Claymore and use the nicehash pool enter stratum servers and voila, you can monitor your miners at nicehash.

[CryptoWatcher420]

this is a good read for 1070 users who shared their hashrates and clocks.

https://bitcointalk.org/index.php?topic=2054800.0

you don't need to install nicehash miner if you want to pay to BTC, you can use your existing miner Ex. Claymore and use the nicehash pool enter stratum servers and voila, you can monitor your miners at nicehash.

lol nicehash is a joke, you do know you make more just mining the coin of your choice right.

[adamantasaurus]

this is a good read for 1070 users who shared their hashrates and clocks.

https://bitcointalk.org/index.php?topic=2054800.0

you don't need to install nicehash miner if you want to pay to BTC, you can use your existing miner Ex. Claymore and use the nicehash pool enter stratum servers and voila, you can monitor your miners at nicehash.

lol nicehash is a joke, you do know you make more just mining the coin of your choice right.

Really when i mine eth i get about 1000/month revenue and with nicehash i should get around 1400/mo revenue unless i calculated wrong?

[fanatic26]

pretty sure you calculated wrong. Nicehash by definition has to pay out less than just mining for yourself or they get no margin at all. Think about it.

[adamantasaurus]

Yea ill run it for 1 month and see the results and post them here. And if im correct im pretty sure nicehash is always switching your miner to the most profitable currency which could change daily. So mining just eth might be less profitable because of that.. correct me if im wrong though

[marthor]

pretty sure you calculated wrong. Nicehash by definition has to pay out less than just mining for yourself or they get no margin at all. Think about it.

No, you're wrong.

Buyers frequently pay more than what hashing power is worth. The reason they do this is that they know hashing power is more valuable at certain points (e.g., immediately after a pool has found a block).

Second, NiceHash allows miners to switch algorithms quickly based on profitability. This is especially important for Nvidia owners, because Equihash often spikes in profitability at certain points in the day (up to 40%). You'd miss out on that by mining Etheruem only. (Conversely, you'd be mining on high difficulty times if you mine Equihash only.)

Third, altcoins tend to go down relative to Bitcoin over the long run. NiceHash allows you to get paid for altcoin mining while the altcoins are worth more in Bitcoins.

Finally, NiceHash's fees are often lower when you consider that pool miners pay software developer fees, pool fees, pool withdrawal fees, and exchange fees (e.g., Bittrex charges .001 Ethereum per deposit).

NiceHash is much better for Nvidia cards. It's still debatable for AMD cards, but it's becoming more profitable as Etheruem goes down relative to other altcoins.

[trinitrate]

Fully agree with Marthor's comments.   You may laugh it as the 'point and click miner' or whatever, but the automatic switching and the simplicity of payment seems to make it a pretty good value for me.   Ive been using them with a very small number of cards for about 18 months and when Ive experimented with direct mining its generally paid less.

[Elder III]

Yes, people don't give NiceHash mining fair credit since they seem to forget how much more you have to pay in exchange and transaction fees yourself. My calculations have the profitability breaking point at ~8%, and that's without giving any credit to the pure convenience of it (which to some is valuable to others not as much, hence I don't count it). So if you could get $4 per day mining XYZ coin on your own, as long as NiceHash pays within 8% of that, approx $3.68 in this case, you would break even by going with either route. Personally I value the extra convenience a bit so I factor it at more like 10% for myself.

The above is based on mining strictly for daily/weekly profits. If you wish to mine a particular coin to keep because you think it will go up in value significantly over time then obviously it's a different story.

[CryptoWatcher420]

pretty sure you calculated wrong. Nicehash by definition has to pay out less than just mining for yourself or they get no margin at all. Think about it.

not to mention nicehash's coins are always usually cheaper than the original version that EVERYONE mines, eth vs eth-nicehash, theres a reason why they can only pay out in bitcoin and that's cause they have there own coins they don't mine the normal ones like the rest of us do

[CryptoWatcher420]

Yes, people don't give NiceHash mining fair credit since they seem to forget how much more you have to pay in exchange and transaction fees yourself. My calculations have the profitability breaking point at ~8%, and that's without giving any credit to the pure convenience of it (which to some is valuable to others not as much, hence I don't count it). So if you could get $4 per day mining XYZ coin on your own, as long as NiceHash pays within 8% of that, approx $3.68 in this case, you would break even by going with either route. Personally I value the extra convenience a bit so I factor it at more like 10% for myself.

The above is based on mining strictly for daily/weekly profits. If you wish to mine a particular coin to keep because you think it will go up in value significantly over time then obviously it's a different story.

you can go for that convenience but your wrong with one thing you don't make the same, I have cheaper fees than you do in the long run as I can hold onto the coin I mine and only transfer when I need to, YOU on the other hand are paying fee's daily and not just network fee's but also nicehash own fee's on top of that, if you've ever noticed but NONE of the coins of nice hash are publicly traded, and the margin is way more than 8 percent, just my 1070 rig alone would lose soo much because there coins are cheaper, that alone affects how much you get in bitcoin, then there is there coin fee plus any other of there own fee's that they tack on after the fact, if I were to just use my 1070 rig, on a per gpu basis id lose about .50 cents to .60 cents per gpu everyday using that stupid service, fact of the matter is I make more NOT using it and anyone who says differently is nothing more than a noob whom clearly knows NOTHING about what there talking about. but hey rant over you want to lose out on money you could otherwise have, by all means GO for it, but you have NO right telling other people that its good when that's quite the contrary, the only thing nice hash has going for it is convenience and that's just not enough to a serious miner, we are here to make MAX profit are we not? by using nicehash you are doing nothing more than jewing yourself out of money you could of had.

[Elder III]

I honestly don't know what you mean when you say ' NONE of the coins of nice hash are publicly traded" ...? Nicehash does not have their own coins, they act as the middle man for Joe Public to buy hashing power from miners and point that hashing power at the coins that Joe Public wants. If you check this link there are over 50 different coins you can buy hashing power for, they are all publicly traded.

https://www.nicehash.com/buy

[CryptoWatcher420]

I honestly don't know what you mean when you say ' NONE of the coins of nice hash are publicly traded" ...? Nicehash does not have their own coins, they act as the middle man for Joe Public to buy hashing power from miners and point that hashing power at the coins that Joe Public wants. If you check this link there are over 50 different coins you can buy hashing power for, they are all publicly traded.

https://www.nicehash.com/buy

oh there so much more than a middle man lol, they buy and sell hashing power, but they also have there own coins and pools
when you go on whattomine.com and see any coin that has -nicehash is there own coin and is not publicly traded, you will NOT find it on ANY crypto exchange mmk, the buying and selling of hash power is only a portion of what makes up nicehash.

[marthor]

I honestly don't know what you mean when you say ' NONE of the coins of nice hash are publicly traded" ...? Nicehash does not have their own coins, they act as the middle man for Joe Public to buy hashing power from miners and point that hashing power at the coins that Joe Public wants. If you check this link there are over 50 different coins you can buy hashing power for, they are all publicly traded.

https://www.nicehash.com/buy

oh there so much more than a middle man lol, they buy and sell hashing power, but they also have there own coins and pools
when you go on whattomine.com and see any coin that has -nicehash is there own coin and is not publicly traded, you will NOT find it on ANY crypto exchange mmk, the buying and selling of hash power is only a portion of what makes up nicehash.

You clearly don't understand how NiceHash works. They do not have their own coins. They pay out in Bitcoins from buyers who are placing orders for hashing power. Ultimately, mining on NiceHash is more efficient than mining on a pool, so it will pay better for most miners.

[CryptoWatcher420]

I honestly don't know what you mean when you say ' NONE of the coins of nice hash are publicly traded" ...? Nicehash does not have their own coins, they act as the middle man for Joe Public to buy hashing power from miners and point that hashing power at the coins that Joe Public wants. If you check this link there are over 50 different coins you can buy hashing power for, they are all publicly traded.

https://www.nicehash.com/buy

oh there so much more than a middle man lol, they buy and sell hashing power, but they also have there own coins and pools
when you go on whattomine.com and see any coin that has -nicehash is there own coin and is not publicly traded, you will NOT find it on ANY crypto exchange mmk, the buying and selling of hash power is only a portion of what makes up nicehash.

You clearly don't understand how NiceHash works. They do not have their own coins. They pay out in Bitcoins from buyers who are placing orders for hashing power. Ultimately, mining on NiceHash is more efficient than mining on a pool, so it will pay better for most miners.

if they did not have there own coin why does whattomine.com list multiple algorithms with there logo  and says *algorithm name*-nicehash
want to explain that one since you seem to know it all



Nicehash-Equihash

Equihash
 
BT: -
 BR: -
 LB: -
 
 -  
72.15 Mh/s
 57.0%
 
0.00495
 0.00428
 
1.04230000
(Nicehash)
15.7%
 -
 41.39 BTC   0.00495
 0.00428  $18.40
 $15.84   115% | 98%
 100% | 102%  


you cant sit there and tell me that's not there own coin, if it wasn't that wouldn't exist they have a fork of multiple algorithms, they don't list the block time, block reward , you can clearly see its not on the normal coins network

[bouldou]

I'm curious to see the result : don't forget to let us know how much you earned after one month here

I'm mining Ethereum right now, but thinking about switching some day..

[CryptoWatcher420]

I'm curious to see the result : don't forget to let us know how much you earned after one month here

I'm mining Ethereum right now, but thinking about switching some day..

don't switch, you will be earning less than you do now