For old miners, consider using nicehash since it has a 2000 sats min. withdrawal

[nullama]

I was thinking the other day that many people stopped using old miners because they can never generate the minimum of the pools to actually withdraw, so they never get anything in return.

But with nicehash you can rent your hashrate and then withdraw through lightning with a minimum of only 2000 sats:

Minimum withdrawal amount is 0.00002 BTC.

So even if you have some miners that don't generate much, you can still get a few sats from time to time.

If you've never used lightning, you can get Muun to receive the sats through lightning and then send the funds to an on-chain address, almost for free. It's a free, non-custodial wallet that can receive sats through lightning, very convenient.

[DaveF]

Would also like to add, don't mine just to mine. There does reach a point where the older miners are really just converting electricity to heat and noise and the hash they do make is so tiny that you are loosing several times your investment in electric vs. what you mine.

-Dave

[philipma1957]

If you have a coinex.com exchange account

you can mine at viabtc.com and move coin for free to coinex. the minimum is pretty low.

[nicehash]

Hey!

Thank you for suggesting us!

Here is a list of why one should mine with NiceHash: https://www.nicehash.com/blog/post/why-should-i-start-mining-with-nicehash

[nullama]

Hey!

Thank you for suggesting us!

Here is a list of why one should mine with NiceHash: https://www.nicehash.com/blog/post/why-should-i-start-mining-with-nicehash

Looks like it needs an update!:

The minimum payout threshold is only 0.00001 BTC (1000 satoshis).

[stompix]

I would say that if you're not managing to get the minimum of 0.001 some major pool still have, that's 30$ in let's say two months it's likely you're not making a profit either so you would be better
- dumping the miner on eBay for a few $, people will buy any kind of s&^% and use those to buy some satoshi
- if you don't care about losing money, noise, or heat, you could simply go solo and hope on the jackpot

[DaveF]

I also like the fact that as nullama said in the 1st post NiceHash allows you to withdraw via lightning. No reason to move such small amounts onchain.

And since you can mine other algos there if your 8 year old miner space heater dies. You can still run your GPU or CPU for a few hours here and there to get your funds out. Unlike every other place where it's just lost.

I still don't think you should be running old miners just to mine they are just not worth it. If you are doing what several of us here do and use them as space heaters for the winter that generate a little bit of BTC then it's not totally a waste of power.

-Dave

[BitMaxz]

I can't find the free LN transaction on Muun even on their help/blog page what I only see is that the transaction fee of 6% to 20% is charged for LN transactions or 1 to 5 sats according to this Reddit post here
I can't even find any details about on-chain withdrawal fees for Muun so I guess their fees are also depends on Mempool status.

For me, if you want to receive a payout daily without a minimum or limit only ViaBTC(Already suggested above) is the best option where you can able to auto withdraw your earnings and transfer them to their Coinex exchange and if you are going to transfer it and withdraw to other exchanges they support other networks like withdrawing BTC from Coinex to Binance with BSC or TRC20 network it's cheap.

[kano]

... however, to actually use that BTC you withdraw in tiny transaction amounts, you'll be paying a very high % of the BTC in fees.

... and if you require the BTC at the wrong time when fees are high, you may need to pay more fees than the BTC you are trying to spend.

My pool has always had a dust limit of 10000 for that reason.

[mikeywith]

Here is a list of why one should mine with NiceHash: https://www.nicehash.com/blog/post/why-should-i-start-mining-with-nicehash

Reading through the list of "why" one should mine with you, I found this

Security
NiceHash has evolved to become one of the safest crypto companies in the world and is an industry leader in security innovation for mining products. Our team has years of experience dealing with information security, and has evolved to be some of the best prepared in the world, as well as working alongside some of the top global security companies, 365 days a year.

NiceHash Miner only updates or adds digitally signed third party software, to ensure the end user is not at risk of any malicious activity by unknown authors.

I can't help but laugh, oh and by the way, did you happen to repay the hacked amount?

If you have a coinex.com exchange account
you can mine at viabtc.com and move coin for free to coinex. the minimum is pretty low.

The problem with this approach is that coinex has a minimum withdrawal of 0.001 BTC and a fee of 0.0001 BTC, even of other coins the lowest seems to be around $10 worth, so this sends you back to square zero, and honestly, if I had to, I rather keep my coins on the pool's wallet than the exchange's.


I have to side stompix's opinion here, if you really can't hit the minimum payouts for most pools, you are wasting your time and efforts.

[nullama]

~snip~
I have to side stompix's opinion here, if you really can't hit the minimum payouts for most pools, you are wasting your time and efforts.

It's not only for older inefficient miners though, you can also run a tiny home silent operation that costs you very little electricity and gives you a couple of bucks a week.

For example you can run an absolutely silent Apollo BTC at 2.1TH/s using 120W only. At any pool it would take you months to get anything, but with NiceHash you can get a few sats every week or two via lightning.

Also, depending on your electricity costs, you can actually make money with this. It's just a small and silent operation at home, you're not necessarily wasting money in certain configurations:



Also, some people might want to basically buy Bitcoin through the electricity bill as well, and nicehash allows this for tiny miners.

[nicehash]

I can't help but laugh, oh and by the way, did you happen to repay the hacked amount?

Yes, we reimbursed the hacked amount. 100% of the lost funds were repaid. We actually had to reimburse 122% as we had to pay Slovenian tax above the actual amount.

The hack made us stronger. Our investment in security is probably far higher than any other crypto company.

Another important thing considering security is the use of signed miner. Excavator (QuickMiner) is in-house built. It is not developed by an unknown developer. Using software from unverified sources could be an issue for some users using the miners on personal PC. We offer them a secure way of mining with QuickMiner.

[nullama]

~snip~
Another important thing considering security is the use of signed miner. Excavator (QuickMiner) is in-house built. It is not developed by an unknown developer. Using software from unverified sources could be an issue for some users using the miners on personal PC. We offer them a secure way of mining with QuickMiner.

By the way, where can I find the modifications you guys made to xmrig? It's distributed with your closed sourced GPU miner(excavator) to mine with the CPU:

XMRig miner (https://github.com/xmrig/xmrig); we have compiled version 6.7.0 with some modifications. The miner is stored in Excavator and it is extracted and launched when needed for CPU Mining.

Since xmrig is released with a GPL license, any redistribution of it requires sharing the modifications. I didn't find any source code for xmrig at https://github.com/nicehash/excavator so maybe they are published somewhere else?

You seem to take these issues very seriously, so I'm sure you're publishing those modifications somewhere to comply with the GPL:

WARNING!!! Excavator is a proprietary software by NiceHash and has a special EULA. YOU ARE NOT ALLOWED TO REDISTRIBUTE IT!

[kano]

...
Our investment in security is probably far higher than any other crypto company.
...

Well considering the security breeches you've stated you've had, (and no idea if there were others you didn't tell people about), one would hope that you've spent some money on dealing with them.

Though from a Bitcoin point of view it's interesting that you have poor security with deposits compared to other sites.
You force each user on nicehash to use a single address for all deposits.

[NotATether]

XMRig miner (https://github.com/xmrig/xmrig); we have compiled version 6.7.0 with some modifications. The miner is stored in Excavator and it is extracted and launched when needed for CPU Mining.

Honestly that setup looks stupid.

Why would you nest an entire program insde a second one when there are more efficient ways of distributing it? Shared libraries for time's worth! There's no initial decompression overhead involved.

Call me a crank but I never like it when people distribute auxillary add-ons as separate programs inside the codebase, base64'd and gzipped. That would be a pain in the ass to maintain.