Why people are using nicehash?

[elissa]

Why people are using nicehash? When I paid to mine Ethereum on it, several times, I received less than the price of Ethereum at that time. To be more specific: It gave me back 20% less money than I have invested. The same thing applied for a miner who rented his/her hash power. Received less than if he/she would mine on a normal pool.

So why people are using it? How is it profitable and for whom?

[1715626238]

1715626238

[bathrobehero]

Because they're lazy and/or don't know any better.

[jmigdlc99]

Some people want to do it the easy way. With Nicehash, they get paid in bitcoins directly which is the only currency they understand and actually know how to convert into fiat. You'd be surprised how much extra people will pay for extra comforts in life. But in the case of mining, it makes less sense because we are mostly doing it for profit. But instead pay extra to get less profit. People are weird.

[umine]

Why people are using nicehash? When I paid to mine Ethereum on it, several times, I received less than the price of Ethereum at that time. To be more specific: It gave me back 20% less money than I have invested. The same thing applied for a miner who rented his/her hash power. Received less than if he/she would mine on a normal pool.

So why people are using it? How is it profitable and for whom?

Because it's very easy. It's best way for newbies to get mining fundamentals. Also not everybody can spend enough time to check Announsment tread for choosing good coin for mining. And nicehash good from time to time on different algos when new popular project start. These points I tell as miner not buyer of mining power

[smokeagile]

nicehash is basically install-and-run. that's all.

[percy_tc]

Because they have lack of knowledge. The only real benefit (at lest for me) is sometimes to have high hashrate for a short time on a low diff. coin.

[bitmagic1984]

There are people who don't have mining hardware available with them. They can use nicehash as a good option.

[leonix007]

Oh Boy, I'm starting to ask myself if I'm really Lazy, Lol

Can't help, why do I end up using nicehash over other pools? Hmmmnnn..

One thing I know, I do realized, I get more profit, How did I do it? its a secret, lol,  and ohh, BTC reached an all time high..

that's how it is.. btw.. I don't mine ETH for a month now

[ikicha]

Some people only mine and earn BTC without trading or waiting for high coin price
but im not, mining coin, hold in my wallet and waiting for higher price

[Frizz23]

nicehash is ok for renting hash power and getting btc.

[cryptocoinfarmer]

Usually Nicehash use newbies that are no so good informed about the concepts of mining. And it's easy to set up just install the software run benchmark and you good to go.

[Coffee135]

Nicehash is very useful for beginners. There is no problem. Installed software and everything. Don't even need to choose the algorithm. The software does everything for you. If you are going to engage in mining need to have the experience you need to constantly follow the price and time switching algorithms. It's all very annoying.

[caymanguy]

what other better than nice hash for d3 and l3

[bathrobehero]

Oh Boy, I'm starting to ask myself if I'm really Lazy, Lol

Can't help, why do I end up using nicehash over other pools? Hmmmnnn..

One thing I know, I do realized, I get more profit, How did I do it? its a secret, lol,  and ohh, BTC reached an all time high..

that's how it is.. btw.. I don't mine ETH for a month now

Your "secret" of autoconverting to BTC doesn't mean you got more just because BTC is high now. On the other hand if you had waited with selling alts for BTC... you could have made much more.

I haven't mined Eth since last July. There is/was always something much more profitable you just have spend the time looking for them.


So yeah, nicehash basically offers plug and play levels of ease of use at a pretty high convenience fee. Which, as jmigdlc99 said doesn't make much sense because most people are here for the ROI which it takes a huge bite out of.

[shibob]

Because it's quite easy. Dont need to consider which coin to mine, dont need to do much researches as well. And please note that even when we do researches carefully, there's no guarantee that we're in right coin. Also the profit comes quite regularly. And as you see, the BTC price is still a way advance than altcoins. So, Nicehash in somehow is a good option for someone. But for me, I prefer using GPUs to mine altcoins rather than Nicehash.

[Phantoms001]

Nicehash has its place.  It's hard to start mining from zero.  You not only have to get a rig up and running, you have to figure out the miners, settings, stupid wallet  (spent days trying to download the blockchain on mist before giving up).  It pretty much took a month to really get mining.  I knew nothing.   During that time I was at least mining something.   

I still use winner for my mixed card rigs. 

[blevotron]

Dat stupid nicehash... connection issue every second start...(ipv6 disabled already, didn't help)...

[cryptojanne]

Do you mean the Nicehash miner.exe or the hashrate marketplace nicehash? The miner is shit, but the marketplace is good for selling hashrate. They are two very diffrent things.

[Metroid]

Cause they love to be scammed.

[oyoW9Pie8oh]

they are just too lazy.
nicehash pay in BTC, so users must do nothing.