Number 9! Ninth altcoin thread. Back to the moon Baby!

[jasta more]

Saw this post and got feedback that this is old news - anyone can confirm?

https://decrypt.co/7370/nicehash-founder-charged-fraud

I have a bunch of X13 ASICS still on Nicehash and it will be a sad day if NH goes away.

December 2017 hack was probably an inside job--->sell high, refund through repayment program

just like cryptopia hack February 2019 hack--->buy low, refund users in fiat with a lot of deductions(hack, expenses etc.)

they all stink of inside job, they know stuff, they know how things work and they think they can get away with it...with so much money on their hands it was irresistibly tempting.

if they are gone, someone will simply replace them.

How did they know that Bitcoin would peak in Dec 2017 so they could refund by buying back cheaper coins in the bear market? They couldn't. I think its just a coincidence that they got hacked right at the peak.

From what I remember they got some share holder or some company to lend them money so they could start the repayment program, it happened when BTC was pretty high (i think in 5 digits somewhere).

What would they do if BTC eventually went to $100,000 a coin? They would have to pay more to refund thru repayment program? It just doesn't make sense.

there were a lot of signs that correction would happen but even if they didnt saw them they could just close shop and disapear with money,this way they still made big profits buy returning people their btc at 1/5 price

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[molivil]

re: nicehash

much to my surprise, a couple days ago nicehash paid a little more from what they owed me from the hack a couple years ago. not much, and they still owe me, but a payment came through. it has been a loooong time since the last payout.. maybe over a year.

anyone else get a payout? or has anyone received all that they are owed?

This is my own personal understanding on the subject.

I've been getting regular payouts from Nicehash from their repayment program as soon as I started mining again. If you're not mining, the repayments will not be regular; instead they will accumulate in your mining account until the preset limit is reached, at which point they pay it out to the wallets. The minimum payout limit is dictated by the network fees

[vapourminer]

much to my surprise, a couple days ago nicehash paid a little more from what they owed me from the hack a couple years ago. not much, and they still owe me, but a payment came through. it has been a loooong time since the last payout.. maybe over a year.

This is my own personal understanding on the subject.

I've been getting regular payouts from Nicehash from their repayment program as soon as I started mining again. If you're not mining, the repayments will not be regular; instead they will accumulate in your mining account until the preset limit is reached, at which point they pay it out to the wallets. The minimum payout limit is dictated by the network fees

thanks, that explains it then. i havent mined there since the hack. if they ever finish paying me off i may reconsider.

not that i have tons of hash, so i dont miss it at all.

[philipma1957]

They owe me 0.017 they paid me 0.054

[adaseb]

I've logged into my Nicehash account probably since the hack and its still stuck at 76%. Wondering if its worth it to just cut the losses and take the 76% now that BTC is higher.

Anyone know what the "End repayment program" button does? I am assuming it makes them not pay you anymore, why would anyone click that?

[arielbit]

I've logged into my Nicehash account probably since the hack and its still stuck at 76%. Wondering if its worth it to just cut the losses and take the 76% now that BTC is higher.

Anyone know what the "End repayment program" button does? I am assuming it makes them not pay you anymore, why would anyone click that?

i didn't enter the repayment program, there was a certain percentage of BTC that was returned, remaining BTC owed still visible.

i withdraw what was returned a few weeks ago, now a little amount was transferred to again from what was owed..

i think you can withdraw that 76%  and wait until the remaining balance is withdrawable

but here is the catch, nicehash removed my old balance some months ago, because "the repayment program ended" so all is gone if i didn't act, i emailed them and repayment program was re enabled in my account, i didn't enter that program, took what i can withdraw, now just waiting until all is paid.

[Iykecollinz]

I can understand why you are happy, it is gladdens to see your efforts and risks pay off, I am seeing one of the coins that have done so well recently on your list and that is litecoin. Congratulations and be smart to know when to make your exit. I haven't mined because of the difficulty in procuring the device and maintenance cost. Still seeking the knowledge though

[adaseb]

They posted an update on their blog on the situation,
https://www.nicehash.com/news/nicehash-statement-regarding-latest-allegations

Either way. Not really concerned, rarely use Nicehash for mining and I never keep a large BTC balance on there to rent rigs.

Regarding the repayment program. It seems for some reason % amount is slowing down. On May 31st they did their 76%, then on April 30th did their 75%, March 29th was their 74%, etc. So at this rate, if we assume % per month, it will take 24 more months so about 2 years. Depending on how much you got sitting there, might not be worth the wait.

[QuintLeo]

Kinda shows you where GPU manufacturers (well, mostly AIBs) try to save money and cut costs as much as they can. In a way I understand if they do it on entry/base models. But seriously, the Aorus/Windforce series is not what I would call cheap.

Aorus isn't cheap, they use good quality fans.

Cheap doesn't always mean low cost, sometimes it means they put cheap parts in something - like the Windforce models with sleeve bearing fans (might have saved them a buck or two per fan, NOT WORTH THE COST SAVINGS therefore "cheap").

[philipma1957]

grin is pushing 5.95 usd.

nice

[dragonmike]

grin is pushing 5.95 usd.

nice

...and above $6 now. I wanted to say "finally" too, lol

Good run in crypto in general lately. BTC has broken 9K ("it's over 9000!!"), which hopefully means we're up for more upside.

Phil, you've called a few good selling points in the past... what is your opinion on this run?

[philipma1957]

grin is pushing 5.95 usd.

nice

...and above $6 now. I wanted to say "finally" too, lol

Good run in crypto in general lately. BTC has broken 9K ("it's over 9000!!"), which hopefully means we're up for more upside.

Phil, you've called a few good selling points in the past... what is your opinion on this run?

It will be good.

Not as good as 2017, but good.

right now  all coins are about 250 billion

2017  we crested over 1 trillion.

So  do I think we go to 1 trillion maybe by next spring.

we have 2 major ½ ing LTC in 2 months  then BTC in 10 mobntjs

[dragonmike]

There are a lot more coins now however, which means that either they will all (or many) go up less than in 2017 to reach the same mkt cap... Or many useless coins and tokens will just not rise... And die off.

[Indamuck]

Only the top coins are doing well, I'm holding a lot of low cap coins from mining that are completely dead or nearly worthless.

Surprised at grin but I still expect it to go back under 30k satoshis again.

[philipma1957]

Only the top coins are doing well, I'm holding a lot of low cap coins from mining that are completely dead or nearly worthless.

Surprised at grin but I still expect it to go back under 30k satoshis again.

I have been cashing grin into ltc .  I finally am at the point that I should have held all the grin rather then buy the LTC.  But I am more confident in LTC than grin.

So I will continue to convert my grin into LTC and then hold.

[dragonmike]

I have been stocking up on Veil since the first day i.e. Jan 2nd. Got a sizable stack now but the damn thing still won't fly. I'm just gonna play the long-term game with that one, the staking is just too good to ignore once you've got a decent amount.

[Marvell2]

Hmm so ppl expect ltc to go up with the halving?

[dragonmike]

Hmm so ppl expect ltc to go up with the halving?

I think it's mostly baked into the price by now already... But yeah, this might have helped the move we saw thus far. Whether it'll end up making a big difference in the grand scheme of things?... Meh.

[martyroz2]

2017  we crested over 1 trillion.
So  do I think we go to 1 trillion maybe by next spring.

I distinctly remember not hitting 1 trill. I recall a high at a touch over 800bn.

[GordoLui]

Summer time is upon us here in the PNW. So far only like 2 days of 90f temperature for this month. Still kinda cool at night but its been non stop sunny these past 2 weeks. So far the mild temperatures is letting me run my little farm inside my tent but those days are numbered. The resurgence of crypto has been great. We have recovered past the 2018 bottom point. The price going up has made it more difficult for me to stop mining. I'm actually hoping prices don't go up too fast and stabilize for a longer duration but I will be happy either way. I think crypto is here to stay and feeling high about it.