NiceHash is paying 6% more than mining Bitcoin traditionally

[paid2]

It looks like Nicehash has gone even further in making bad decisions...

I just came across this on Reddit:



LOL!
@Nicehash, are you really going to make people pay for having an inactive account??


Otherwise I've learned from your blog that you're going to stop providing exchange services to focus on hashrate rental and mining services. So there will be no more FIAT managed by you, should assume that you will therefore stop forcing your users to go through KYC?

[UserU]

Absolute thievery. You can steal my $10, ain't coming back just to be forced to use your service.

[mikeywith]

Otherwise I've learned from your blog that you're going to stop providing exchange services to focus on hashrate rental and mining services. So there will be no more FIAT managed by you, should assume that you will therefore stop forcing your users to go through KYC?

Nicehack took the KYC route which led to many customers leaving them, so their business isn't doing well, they sat down and thought about new ways to make more sats, the one you pointed out is probably just the tip of the iceberg.

[FP91G]

We miners do not like KYC, but I can still understand that a large company must comply with European laws.
But NiceHash has banned miners from Russia from using their service, but Russia is the second country in the world in terms of electricity capacity that is spent on mining.

[paid2]

We miners do not like KYC, but I can still understand that a large company must comply with European laws.
But NiceHash has banned miners from Russia from using their service, but Russia is the second country in the world in terms of electricity capacity that is spent on mining.

They moved from Slovenia to Switzerland recently, I'm still wondering why they still ask KYC processes to all users.
As far as I know, the European Unions' regulations does not ask for mandatory KYC for mining pools (maybe it changed since? Not sure). Nicehash stopped their exchange activity, and is now in a country outside EU regulations, it would have been great if they used these facts to do something else than total shit.

The admin of MiningRigRentals was probably quite happy when he learned about recent Nicehash' business decisions lol.

[philipma1957]

I use them as I type ,but I did kyc years ago.

[FP91G]

We miners do not like KYC, but I can still understand that a large company must comply with European laws.
But NiceHash has banned miners from Russia from using their service, but Russia is the second country in the world in terms of electricity capacity that is spent on mining.

They moved from Slovenia to Switzerland recently, I'm still wondering why they still ask KYC processes to all users.
As far as I know, the European Unions' regulations does not ask for mandatory KYC for mining pools (maybe it changed since? Not sure). Nicehash stopped their exchange activity, and is now in a country outside EU regulations, it would have been great if they used these facts to do something else than total shit.

The admin of MiningRigRentals was probably quite happy when he learned about recent Nicehash' business decisions lol.

They wrote in their newsletter that the stricter requirements are specifically due to the move to another country
https://bitcointalk.org/index.php?topic=5513017.msg64689659#msg64689659
I think more than one MiningRigRentals administrator will be happy.

[tuaris]

Since Nicehash has ended anonymous mining as of November 12, 2024 I can no longer recommended using it.   The requirement of registration KYC violates privacy principals.  I myself will stop using it.  This was my go to for years.

There is this matter of an unpaid balance that is below the payment threshold, will that be paid?  It's quite significant considering the rising value of Bitcoin.

EDIT: ah, I see.  They are going to add a "Service fee" which basically means they are goigng to steal my balance.  I will refrain from using profanity, but these people are scumbags.  Worse than the CoinURL scumbags (remember them?) that stole 1.5 BTC from me several years ago

I'm very upset with this change.

I will therefore need to accelerate the development of my pool at securepayment.cc  Seems like there will be demand for it.  Please PM if you are C developer.  (as of now anonymous BTC solo mining is functional, but in alpha mode)

[NotATether]

Since Nicehash has ended anonymous mining as of November 12, 2024 I can no longer recommended using it.   The requirement of registration KYC violates privacy principals.  I myself will stop using it.  This was my go to for years.

Do you know any alternative sites like Nicehash but without the KYC?

I will therefore need to accelerate the development of my pool at securepayment.cc  Seems like there will be demand for it.  Please PM if you are C developer.  (as of now anonymous BTC solo mining is functional, but in alpha mode)

Will PM soon.

[paid2]

Do you know any alternative sites like Nicehash but without the KYC?

There is only MiningRigRentals as far as I know!

[philipma1957]

yeah i left them.

and i had a full kyc account

but  if i sold a miner as a heater

i would set up the buyer with a trezor and teach them to mine as a heater and hold in the trezor.

never cash never trade just hold.  since the earnings are tiny zero paperwork til you cash.

so another small business killed off

[FP91G]

Do you know any alternative sites like Nicehash but without the KYC?

There is only MiningRigRentals as far as I know!

This is a developer thread on our forum.
Miner Legacy Fork Fix (for ZergPool)
https://bitcointalk.org/index.php?topic=5516906.msg64709293#msg64709293

His old product
https://bitcointalk.org/index.php?topic=5132119.0