[ANN] NiceHash.com - sell & buy hash rate cloud mining service / multipool

[bitkokos]

Nicehash ... please make payout amounts changeable.
Every 4 hours is way too often and the fee is WAY too high!
0.01btc / payment with a 2% fee .. is fucking rape, because that just puts a bunch of tiny inputs in my btc addy. Meaning when I go to spend all of them Ill have to pay yet another huge fee!

2% of 100 is 2
2% of 10 is 0.2
if you get ten payments of 10 the total is again 2.

Either way the fee you pay is the same. So, it's not fucking rape.

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[Hunterbunter]

All of a sudden (the last week or so), I've been getting a lot of "pool difficulty is too low" errors when trying to rent hashpower. Is there a way to fix that?

[vortexz]

I wonder why they don't listen and merge westhash and nicehash togheterr.
are they blind or something ?westhash is always pulling price down

It has been explained few pages back. But if you think it is possible, let us know your solution (we need detailed technical solution that is possible to be realized according to existing limitations of mining software and targeting pools).

stop taking orders on WEST !!! make it just a alternative server !!! your prices are kicking us, the sellers, away !!!

why you drag our prices down with your crap west hash ?
the sollution is very simple, merge them togheter, just use nicehash for orders and mining also.
westhash should be just a gateway.

[btcm4n14c]

I wonder why they don't listen and merge westhash and nicehash togheterr.
are they blind or something ?westhash is always pulling price down

It has been explained few pages back. But if you think it is possible, let us know your solution (we need detailed technical solution that is possible to be realized according to existing limitations of mining software and targeting pools).

stop taking orders on WEST !!! make it just a alternative server !!! your prices are kicking us, the sellers, away !!!

why you drag our prices down with your crap west hash ?
the sollution is very simple, merge them togheter, just use nicehash for orders and mining also.
westhash should be just a gateway.

I agree with this one too, since westhash was launched, only bad days on NH, i dont get it why owners ignores all our messages

[carloss]

I don't understand where the lack of interference comes from either. I didn't say NH should be shut down, but BOTS, non-human entities that automatically push humans out of the market should be eliminated.
...
I think you're confusing regulation for blatant exploitation of miners and buyers by automated entities. How is making a human set up orders regulating the market anyway?

Man up and stop crying! I hope you complain to coin exchanges and stock markets the same way.

[carloss]

Btw I don't get why everybody is crying here because of low hashing power prices...these prices are directly linked to coin mining profitability. And check the coin profitability charts now. THIS is the reason of crappy prices. The sinking altcoin market full of scams and pump'n'dump projects.

I am a miner and I had to shutdown 14 AMD cards last month because of this. But I don't blame NH.

Litecoin mining profitability is atm 0.38409727 BTC / GH / day, Nicehash is currently paying 0.3922 BTC/GH/Day for scrypt to its miners. Highest running order is 0.42. Why would anyone pay more than that and lose money?

Also miners are not forced to mine on NH, they can setup the minimum price a mine elsewhere in times where they are not satisfied with current price. This is self-regulating environment.

Also arbitrage bots can drive the price higher in case the average price on NH drops considerably below coin mining profitability. But this is not the case here.

I think prices on nicehash are completely realistic and in order with current shitcoin market situation.

[comeonalready]

Btw I don't get why everybody is crying here because of low hashing power prices...these prices are directly linked to coin mining profitability. And check the coin profitability charts now. THIS is the reason of crappy prices. The sinking altcoin market full of scams and pump'n'dump projects.

I am a miner and I had to shutdown 14 AMD cards last month because of this. But I don't blame NH.

Litecoin mining profitability is atm 0.38409727 BTC / GH / day, Nicehash is currently paying 0.3922 BTC/GH/Day for scrypt to its miners. Highest running order is 0.42. Why would anyone pay more than that and lose money?

Also miners are not forced to mine on NH, they can setup the minimum price a mine elsewhere in times where they are not satisfied with current price. This is self-regulating environment.

Also arbitrage bots can drive the price higher in case the average price on NH drops considerably below coin mining profitability. But this is not the case here.

I think prices on nicehash are completely realistic and in order with current shitcoin market situation.

People are yelling, screaming, crying, and whining because either they feel entitled to something that they are not, or they employed flawed ROI calculations when originally making their decisions to purchase mining hardware -- most likely by assuming a fixed fiat value of daily earning potential at acquisition and erroneously applying it as a constant in their break even and profitability calculations (or failing to account for the possibility of its rapid decline).  And rather than blame themselves for being in trouble on their investments, they want someone else --anyone else, to blame for their poor current situation.  If westhash never came into existence, they would be blaming some other demon right now.  [It has been mildly amusing though, so by all means please keep it up.]

[iaminitnow06]

What is going on at westhash? Cant even get stable hashing for an hour consistently. Price went from 0.4 to 0.47 in 2 hours. 0.47BTC/Gh/day. Really??What coin are they mining to be so profitable after paying this price? I'd also like to know.
Somebody is playing. I was paying .4BTC/GH/day but now I withdrew everything from there. It's really a bad game being played there. Putting off genuine customers like me

[suchmoon]

What is going on at westhash? Cant even get stable hashing for an hour consistently. Price went from 0.4 to 0.47 in 2 hours. 0.47BTC/Gh/day. Really??What coin are they mining to be so profitable after paying this price? I'd also like to know.
Somebody is playing. I was paying .4BTC/GH/day but now I withdrew everything from there. It's really a bad game being played there. Putting off genuine customers like me

So let me recap. There are two conspiracies going on at the same time. One is to put miners out of business by lowering prices. The other one is to put off "genuine customers" by increasing prices. Mind boggles.

[Trimegistus]

So let me recap. There are two conspiracies going on at the same time. One is to put miners out of business by lowering prices. The other one is to put off "genuine customers" by increasing prices. Mind boggles.

The plot thickens... 

[WBF1]

So let me recap. There are two conspiracies going on at the same time. One is to put miners out of business by lowering prices. The other one is to put off "genuine customers" by increasing prices. Mind boggles.

The plot thickens... 

Sounds like a free market being its unregulated self.

[WBF1]

Btw I don't get why everybody is crying here because of low hashing power prices...these prices are directly linked to coin mining profitability. And check the coin profitability charts now. THIS is the reason of crappy prices. The sinking altcoin market full of scams and pump'n'dump projects.

I am a miner and I had to shutdown 14 AMD cards last month because of this. But I don't blame NH.

Litecoin mining profitability is atm 0.38409727 BTC / GH / day, Nicehash is currently paying 0.3922 BTC/GH/Day for scrypt to its miners. Highest running order is 0.42. Why would anyone pay more than that and lose money?

Also miners are not forced to mine on NH, they can setup the minimum price a mine elsewhere in times where they are not satisfied with current price. This is self-regulating environment.

Also arbitrage bots can drive the price higher in case the average price on NH drops considerably below coin mining profitability. But this is not the case here.

I think prices on nicehash are completely realistic and in order with current shitcoin market situation.

People are yelling, screaming, crying, and whining because either they feel entitled to something that they are not, or they employed flawed ROI calculations when originally making their decisions to purchase mining hardware -- most likely by assuming a fixed fiat value of daily earning potential at acquisition and erroneously applying it as a constant in their break even and profitability calculations (or failing to account for the possibility of its rapid decline).  And rather than blame themselves for being in trouble on their investments, they want someone else --anyone else, to blame for their poor current situation.  If westhash never came into existence, they would be blaming some other demon right now.  [It has been mildly amusing though, so by all means please keep it up.]

I more or less got screwed-ish because Vertcoin dropped in value by 83%. It wasn't a flawed calculation. Then again, I'm not complaining about NH/WH rates either...

[bensam123]

Miners could actually profit off protocols, now you're gathering them all up and executing them.

Who is forcing the miners to gather and be executed? If you can profit elsewhere that's what you should do. Let me guess - you like the convenience of NiceHash but would also like the prices to be higher.

The prices would be higher if there weren't bots pushing actual buyers out of the market so a couple people can profit from artificially lower prices. THATS NOT A NORMAL MARKET! And no, I have miners, but they don't mine on NH as it's a graveyard for miners as I already mentioned. I spent the weekend buying x15 mining power and aiming it at Halcyon. I'm still going to point out how the system is being exploited and what's happening regardless. I don't run a bot.

Maybe he doesn't wanna do that cause he is the one running the bots? Hehe I have no proof...just saying it thou

Actually considered that... But the way NH is setup... You actually have no idea how the prices are computed between Westhash, NH, and the orders... There is a lot of room for fudging the numbers and the hashing power. It's entirely possible for NH to be skimming a good chunk off the top and no one would know as it's obfuscated. If they were manipulating things, it wouldn't be in the orders window.

Man up and stop crying! I hope you complain to coin exchanges and stock markets the same way.

Grow up dude and learn how to do critical thinking.

Btw I don't get why everybody is crying here because of low hashing power prices...these prices are directly linked to coin mining profitability. And check the coin profitability charts now. THIS is the reason of crappy prices. The sinking altcoin market full of scams and pump'n'dump projects.

I am a miner and I had to shutdown 14 AMD cards last month because of this. But I don't blame NH.

Litecoin mining profitability is atm 0.38409727 BTC / GH / day, Nicehash is currently paying 0.3922 BTC/GH/Day for scrypt to its miners. Highest running order is 0.42. Why would anyone pay more than that and lose money?

Also miners are not forced to mine on NH, they can setup the minimum price a mine elsewhere in times where they are not satisfied with current price. This is self-regulating environment.

Also arbitrage bots can drive the price higher in case the average price on NH drops considerably below coin mining profitability. But this is not the case here.

I think prices on nicehash are completely realistic and in order with current shitcoin market situation.

That's not entirely true. The market is driven by demand. If people don't make a demand because every time they do, they're shut out of the market by a automated system (bots), the price will drop to absolutely nothing, as did this last weekend.

I actually see NH as a good thing in a way as it will force a lot of miners to shut down as they'll soak themselves in ice water that is NH getting a trickle income of BTC and then slit their wrists on their power bill (even though there are other profitable options out there).

However we don't need bots completely destroying what's left of the market.

[suchmoon]

Miners could actually profit off protocols, now you're gathering them all up and executing them.

Who is forcing the miners to gather and be executed? If you can profit elsewhere that's what you should do. Let me guess - you like the convenience of NiceHash but would also like the prices to be higher.

The prices would be higher if there weren't bots pushing actual buyers out of the market so a couple people can profit from artificially lower prices. THATS NOT A NORMAL MARKET! And no, I have miners, but they don't mine on NH as it's a graveyard for miners as I already mentioned. I spent the weekend buying x15 mining power and aiming it at Halcyon. I'm still going to point out how the system is being exploited and what's happening regardless. I don't run a bot.

You didn't answer the question. Who (or what) is forcing the miners to use NH/WH?

By saying that the prices could be higher you're implying that there is profit elsewhere. Why do the miners use NH/WH instead of those more profitable places?

You're also implying that adding some kind of regulation - restrictions on bots or whatever - would somehow increase the prices. How? What is preventing a buyer from placing a higher-priced order right now?

[BitCoinDream]

I'm still awaiting a response to my query...

I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining  and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?

Depends for what time. At cex.io you buy virtual hashing device (not only hashing power) and is yours until you sell it. Here, you buy only hashing power, and not device.

I noticed that u skipped the PBmining part. Not sure why. They sell hashes. I just got to know about another... BitcoinCloudServices.com. They are giving 1 GH/s @ 0.0026 BTC for 5 years. PBmining offer is also for 5 years. So, to get 1 GH/s for 5 years from NiceHash.com, what it would cost ?

p.s. I am mentioning the time period because u asked for it. If u dont offer contract for 5 years, then please let me know the longest term of your deal.

[Swimmer63]

I'm still awaiting a response to my query...

I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining  and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?

Depends for what time. At cex.io you buy virtual hashing device (not only hashing power) and is yours until you sell it. Here, you buy only hashing power, and not device.

I noticed that u skipped the PBmining part. Not sure why. They sell hashes. I just got to know about another... BitcoinCloudServices.com. They are giving 1 GH/s @ 0.0026 BTC for 5 years. PBmining offer is also for 5 years. So, to get 1 GH/s for 5 years from NiceHash.com, what it would cost ?

p.s. I am mentioning the time period because u asked for it. If u dont offer contract for 5 years, then please let me know the longest term of your deal.

If I were you I would not buy a Gh/s for .0026 BTC for one year.  The going rate goes down almost every week.  I would rent rigs at Westhash for shorter periods.  Like a week at a time. Just my $.02.

[BitCoinDream]

I'm still awaiting a response to my query...

I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining  and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?

Depends for what time. At cex.io you buy virtual hashing device (not only hashing power) and is yours until you sell it. Here, you buy only hashing power, and not device.

I noticed that u skipped the PBmining part. Not sure why. They sell hashes. I just got to know about another... BitcoinCloudServices.com. They are giving 1 GH/s @ 0.0026 BTC for 5 years. PBmining offer is also for 5 years. So, to get 1 GH/s for 5 years from NiceHash.com, what it would cost ?

p.s. I am mentioning the time period because u asked for it. If u dont offer contract for 5 years, then please let me know the longest term of your deal.

If I were you I would not buy a Gh/s for .0026 BTC for one year.  The going rate goes down almost every week.  I would rent rigs at Westhash for shorter periods.  Like a week at a time. Just my $.02.

Any logical explanation of WHY supported by figures and I'd be interested. Please mention why that would perform better than cex.io too, because at cex.io I can sell out the bought hash power.

[nicehashdev]

I'm still awaiting a response to my query...

I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining  and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?

Depends for what time. At cex.io you buy virtual hashing device (not only hashing power) and is yours until you sell it. Here, you buy only hashing power, and not device.

I noticed that u skipped the PBmining part. Not sure why. They sell hashes. I just got to know about another... BitcoinCloudServices.com. They are giving 1 GH/s @ 0.0026 BTC for 5 years. PBmining offer is also for 5 years. So, to get 1 GH/s for 5 years from NiceHash.com, what it would cost ?

p.s. I am mentioning the time period because u asked for it. If u dont offer contract for 5 years, then please let me know the longest term of your deal.

If I were you I would not buy a Gh/s for .0026 BTC for one year.  The going rate goes down almost every week.  I would rent rigs at Westhash for shorter periods.  Like a week at a time. Just my $.02.

Any logical explanation of WHY supported by figures and I'd be interested. Please mention why that would perform better than cex.io too, because at cex.io I can sell out the bought hash power.

At cex.io you buy "virtual device" that has certain hashing power, that is why you can sell it. Here, you don't buy device, but only hashing power which is shown as the result (on your target pool). When your BTC is depleted, you received shares (hashes) on your targeting pool, which you turn into profit. Mining bitcoins by buying hashing power on NiceHash (or other renting services) is stupid thing to do, because you will always end up with deficit. But.. due to market-nature of NiceHash, you may sometimes catch a chance to buy hashing power for lower price than what bitcoin mining gives you. I suggest you to monitor "Low renting price" on NiceHash and WestHash. As soon as this number is below bitcoin profitability, it is worth to mine bitcoins with hash power bought at NiceHash/WestHash.

For example, low renting price on WestHash is this current moment: 0.0182 BTC/TH/Day

And with bitcoin mining, you get 0.02109 BTC/TH/Day

If you buy hashing power, you will make profit. If you buy 1 TH and let it run for 1 day (considering that you actually get 1TH and it is running whole day at 1TH), you will make profit 0.02109 - 0.0182 = 0.00289 BTC in 1 day (not considering pool fees). If you rent 100 TH instead of 1 TH, then your profit multiplies by 100, which means you profit 0.289 BTC in 1 day. Of course, this is under condition, that you actually get this hashing power, if someone outbids you and "takes" hashing power away from you, because he is bidding more than you, then of course, your profit decreases. But, as long as you don't set too high price, you cannot end up with deficit. With other cloud mining services, you may always end up with deficit, spending more money than investing into. But not with NiceHash, if you play it smart enough.

[BitCoinDream]

I'm still awaiting a response to my query...

I am confused by the complicated hash power calculation at NiceHash. Can someone please tell me something simple ? I get 1 GH/s @ 0.0031 BTC on PBmining  and @ 0.00374990 on CEX.io. At what cost I get 1 GH/s at NiceHash ?

Depends for what time. At cex.io you buy virtual hashing device (not only hashing power) and is yours until you sell it. Here, you buy only hashing power, and not device.

I noticed that u skipped the PBmining part. Not sure why. They sell hashes. I just got to know about another... BitcoinCloudServices.com. They are giving 1 GH/s @ 0.0026 BTC for 5 years. PBmining offer is also for 5 years. So, to get 1 GH/s for 5 years from NiceHash.com, what it would cost ?

p.s. I am mentioning the time period because u asked for it. If u dont offer contract for 5 years, then please let me know the longest term of your deal.

If I were you I would not buy a Gh/s for .0026 BTC for one year.  The going rate goes down almost every week.  I would rent rigs at Westhash for shorter periods.  Like a week at a time. Just my $.02.

Any logical explanation of WHY supported by figures and I'd be interested. Please mention why that would perform better than cex.io too, because at cex.io I can sell out the bought hash power.

At cex.io you buy "virtual device" that has certain hashing power, that is why you can sell it. Here, you don't buy device, but only hashing power which is shown as the result (on your target pool). When your BTC is depleted, you received shares (hashes) on your targeting pool, which you turn into profit. Mining bitcoins by buying hashing power on NiceHash (or other renting services) is stupid thing to do, because you will always end up with deficit. But.. due to market-nature of NiceHash, you may sometimes catch a chance to buy hashing power for lower price than what bitcoin mining gives you. I suggest you to monitor "Low renting price" on NiceHash and WestHash. As soon as this number is below bitcoin profitability, it is worth to mine bitcoins with hash power bought at NiceHash/WestHash.

For example, low renting price on WestHash is this current moment: 0.0182 BTC/TH/Day

And with bitcoin mining, you get 0.02109 BTC/TH/Day

If you buy hashing power, you will make profit. If you buy 1 TH and let it run for 1 day (considering that you actually get 1TH and it is running whole day at 1TH), you will make profit 0.02109 - 0.0182 = 0.00289 BTC in 1 day (not considering pool fees). If you rent 100 TH instead of 1 TH, then your profit multiplies by 100, which means you profit 0.289 BTC in 1 day. Of course, this is under condition, that you actually get this hashing power, if someone outbids you and "takes" hashing power away from you, because he is bidding more than you, then of course, your profit decreases. But, as long as you don't set too high price, you cannot end up with deficit. With other cloud mining services, you may always end up with deficit, spending more money than investing into. But not with NiceHash, if you play it smart enough.

Do u mean the buyer's bid amount gets forfeited if he dos not win the hash ?

[nicehashdev]

It all depends on orders. Our system will give hashpower to best paying orders. If your order doesn't pay enough, it is left with 0 hashpower, but this also means you pay 0, because you are only paying for valid accepted shares.