your rewards??
Im mining a new coin, and again I have to ask in discord why is it mining like its been out for 1 year?
the answer was nice hash
so you could have a rig and nice hash will lower your rewards if someone rents power from nice hash and aims it at the new coins?
is this how they get master nodes, why everyone else who spend money on rigs get pennies?
Hi, answering your question, in my personal opinion mining is a running, you have to identify as fast as you can some variables, and also decide which way to go.
As an example, invest in a mining rig will be always better if you do it right, I mean equipment’s selection, installing, good profits calculation (use a page like cryptocompare), configuration and TIME TO MARKET, what I mean is , if you order your equipment’s and they arrive 5 weeks later believe me you will lost a lot of money) This will only work if you know how to assembly a computer or see a lot of videos in youtube that will help also. (write me if you need help)
I have never use nicehash, but i see the costs there are high, for i consider it once. And comparing to a mining rig you can mine for at least four years continually
In both cases you have to select a coin that will increase it values fast, if are not the common ones like, BTC ETH, XMR, you have to at least read the white paper and see if the project have future or you will be mining garbage
I know there a lot of topics of mining rigs and selection of coins to mine, but I write this just for you have an idea of what i am talking about. Before decide a create a mining rig or use nice hash consider this
1.- What coin I want to mine?
2.- Make yourself this question. Does this coin have a future? Its value will increase in time?
3.- Can I sell this coin easily or I have to keep them for a long time?
4.- Which equipment is the best to mine this coin (hasrate)?
5.- How much power this equipment will require?
6.- Beware that at least you have to have a big computing power (gpu mining rigs, a good server) or you are not going to make profits in a month
7.- Chose a coin that have a future
8.- Beware of the difficulty of the algorithm for each day it past you will get less coins, hence you have to mine something that also gain value each day to contra rest this
Hope this was helpfully