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

[thedreamer]

We explained several times already, why price dropping is not freely. Let me explain for you again;

Let's assume you mine SHA256.
If price drop was free, you could first set high enough price (1.5) to gather all miners (15 PH/s), then suddenly drop price to 0.0001. Since miners are being slowly reassigned to new orders by random time intervals, it would take several ten minutes before miners would be reassigned off your order to more profitable orders. Meanwhile, profit ratio for all SHA256 miners would drop near to 0.0001 and slowly rise up.

If we enabled free price drops, NiceHash would soon cease to exist, because all miners would rather mine elsewhere due to very low profitability on NiceHash.

Every rule we have there is for a good reason. We don't make rules just for fun or to annoy any party, but to prevent all kind of malicious activity that would either harm buyers or sellers.

Wow a reply from NH Support.

The scenario you are using for an example can not be true though as if someone gets all the miners at a high price, then drops the price to anything lower, the current other renters' prices (which will be higher) will protect against huge drops. So limiting a down-ward trend to a miniscule amount would not make Nicehash 'cease to exist' but cut into your profits at letting people stay at artifically high prices.

Another example, is if current prices are 'x', you start a new order with a max of 'x+5', but when the order starts it almost always goes to 'x+5' at then can take forever to get back to the 'normal pay levels' that other people are getting.

So you are essentially forcing people to keep resetting orders and deleting/recreating new ones constantly, putting extra transactions on the books.
I am surprised you guys don't have a minimum set amount of fees for creating orders.

Before your latest system 'update' everything seemed to work well for everyone, other than nicehashbot crashing constantly. Shoudl have stayed with that system and not hoze a lot of people. Notice how your hash rate is like 30-50% less than it used to be?

[NiceHashSupport]

We explained several times already, why price dropping is not freely. Let me explain for you again;

Let's assume you mine SHA256.
If price drop was free, you could first set high enough price (1.5) to gather all miners (15 PH/s), then suddenly drop price to 0.0001. Since miners are being slowly reassigned to new orders by random time intervals, it would take several ten minutes before miners would be reassigned off your order to more profitable orders. Meanwhile, profit ratio for all SHA256 miners would drop near to 0.0001 and slowly rise up.

If we enabled free price drops, NiceHash would soon cease to exist, because all miners would rather mine elsewhere due to very low profitability on NiceHash.

Every rule we have there is for a good reason. We don't make rules just for fun or to annoy any party, but to prevent all kind of malicious activity that would either harm buyers or sellers.

Wow a reply from NH Support.

The scenario you are using for an example can not be true though as if someone gets all the miners at a high price, then drops the price to anything lower, the current other renters' prices (which will be higher) will protect against huge drops. So limiting a down-ward trend to a miniscule amount would not make Nicehash 'cease to exist' but cut into your profits at letting people stay at artifically high prices.

Another example, is if current prices are 'x', you start a new order with a max of 'x+5', but when the order starts it almost always goes to 'x+5' at then can take forever to get back to the 'normal pay levels' that other people are getting.

So you are essentially forcing people to keep resetting orders and deleting/recreating new ones constantly, putting extra transactions on the books.
I am surprised you guys don't have a minimum set amount of fees for creating orders.

Before your latest system 'update' everything seemed to work well for everyone, other than nicehashbot crashing constantly. Shoudl have stayed with that system and not hoze a lot of people. Notice how your hash rate is like 30-50% less than it used to be?

The scenario I presented is very real and would be massively exploited if possible. I am not sure why are you saying that it is not true? There is nothing else that would protect miners or us from it happening if it wasn't inability to freely drop the price.

We did not change this mechanism. Price drop was at start not even possible, later we added small decrements. I am not sure about what "system update" you are referring to?

But we understand your frustration, price of SHA256 has been bit higher in the past month, so it is hard to get good deals like you are maybe used to. Here is nothing we can do, free market.

[a1binos]

thedreamer, Nicehash is working for sellers income, not the renters income.

[ShooterXD]

Any bounty to portuguese translation or complet tutorial about how to rent a hash ratr?

Call me if u need this

[fr4nkthetank]

oh we doing translations ?  You want a french one, I am your man.

[thedreamer]

thedreamer, Nicehash is working for sellers income, not the renters income.

Yup, but if the renters get screwed there will be less of them to rent your gear. Simple as that.
Either way, looks like NH has lost 50% of the hash rate and is dropping from before the 'update' so......

[somaton]

why x11 removed from NiceHash miner 1.7.0.1? It was working fine in 1.7.0.0. There is small typo: previous benchmared algorithm status

[liomojo]

Is there a way to put how much power draws the system in nicehash miner , so that the profit calculation to be real? I don`t see such an option!
By the way if you  use gtx 750TI for cryptonight put 80x5 it will give you better result. I get 285h/s with it.

[nicehash]

why x11 removed from NiceHash miner 1.7.0.1? It was working fine in 1.7.0.0.

X11 is not profitable anymore with GPUs, it is an ASIC game now.

[nicehash]

Is there a way to put how much power draws the system in nicehash miner , so that the profit calculation to be real? I don`t see such an option!

It is impossible to get an exact power draw of the full system, and the real information is only the one that is shown at the power socket, which includes power supply efficiency, etc. But you can estimate your power costs if you measure it wilt some power meter at the wall ... but please note that power draw also depends on particular algorithm. We might add the option to manually enter your power draw and power costs, which can then be evaluated when calculating full costs.

[liomojo]

Yes that is exactly what I want! To put manually the power that draws every algorithm ( I have watt metter) and put the price of electricity like 0.1$ and then nicehash miner could actually count what is the real profit! Whit the ne 1.7.0.1 beta you almost did it , it is check profitability (now working without error) on your site. There was a minercontrol by KBomba that had this option! You can have a look at it! It calculate the net profit by profit-powercost=actual profit!

[yslyung]

when i connect my antminer s7 & s9 directly to nh it mines properly with very few rejects/stales or dupes but when i connect them via proxy lots of rejects especially dupes & invalid extranonce shares.

INFO:strat.mining.stratum.proxy.worker.StratumWorkerConnection - REJECTED share (diff: 4096.0) from on Nice/West Hash. Booo !!!!. Error: JsonRpcError code=20, message=Invalid extranonce2 size., traceback=null

other miners via proxy are ok, normal with occasional rejects such as stales or dupes just the antminers.

any solutions ?

thx.

[thedreamer]

when i connect my antminer s7 & s9 directly to nh it mines properly with very few rejects/stales or dupes but when i connect them via proxy lots of rejects especially dupes & invalid extranonce shares.

INFO:strat.mining.stratum.proxy.worker.StratumWorkerConnection - REJECTED share (diff: 4096.0) from on Nice/West Hash. Booo !!!!. Error: JsonRpcError code=20, message=Invalid extranonce2 size., traceback=null

other miners via proxy are ok, normal with occasional rejects such as stales or dupes just the antminers.

any solutions ?

thx.

Sure is.. Mine at a better pool. 

[JeanOffman]

I would really appreciate an explanation
https://www.evernote.com/l/AA_vI3axaZVNupik7OUzlxBPrqPx1MjyhNw
This order stayed here about 15mn at this price and with 100 miners. Strange thing

[nicehash]

I would really appreciate an explanation
This order stayed here about 15mn at this price and with 100 miners. Strange thing

Obviously there was a situation, where existing orders were low-priced, and then many new orders were submitted with much higher price. Our system is designed in such a way, that miners are redirected to better paying orders gradually, not instantly. This is to improve system efficiency. See this FAQ for more details: https://www.nicehash.com/index.jsp?p=faq#faqb1

Best regards,
NiceHash team.

[JeanOffman]

ok thank you for the clarification

1- How to setup no Hash limitation and is there any interest to do that
2- I've DL the last order bot but it's not working. Message error say api version have changed (I can't remember the exact message) and don't start.

[nicehash]

CPU and NVIDIA miners: try out the new 1.7-BETA NH Miner with the support of very profitable CryptoNight algorithm:

https://github.com/nicehash/NiceHashMiner/releases/tag/v1.7.0.1-BETA


Best regards,
NiceHash team.

[JRDavis]

There is no bin directory in the beta zip.

[MinersExpress]

Can I get a little feedback about your change to the open-ethereum-pool.  I have a private pool that I use that pool on and I added your "update" to the handlers.go and got it working with nicehash without a problem.  The only problem I have now is frequent disconnects with the nicehash order.

If I run my miners on it using claymore's miner (Eth only mode) then I do not see any disconnects of my miners.  I have run nicehash orders with and without my miners and it doesn't change the Nicehash disconnects.

Any help would be appreciated.

thanks

[nicehash]

There is no bin directory in the beta zip.

As soon as you run the 1.7-BETA version it will auto-download the needed miner binaries. If this does not happen, please report the issue here: https://github.com/nicehash/NiceHashMiner/issues

Thanks!