[PPS multipool] NiceHash.com pool - higher profits than direct mining BTC!

[josephno1]

I've receive 8 "order running low" emails now about the same order that has been untouched for 36 hours.  It seems that every time my order doesn't get hash because prices change, it resets the indicator, and next time it starts back up, I get another email.

M

You can change your email settings so that you don't get the "order running low" emails since they are super annoying

[mdude77]

I've receive 8 "order running low" emails now about the same order that has been untouched for 36 hours.  It seems that every time my order doesn't get hash because prices change, it resets the indicator, and next time it starts back up, I get another email.

M

You can change your email settings so that you don't get the "order running low" emails since they are super annoying

Yes.  However, they are useful once.  Not 8 times.

M

[NiceHashSupport]

I've receive 8 "order running low" emails now about the same order that has been untouched for 36 hours.  It seems that every time my order doesn't get hash because prices change, it resets the indicator, and next time it starts back up, I get another email.

M

You can change your email settings so that you don't get the "order running low" emails since they are super annoying

Yes.  However, they are useful once.  Not 8 times.

M

If your speed goes up and then down again, mail will be sent again.

[mdude77]

I've receive 8 "order running low" emails now about the same order that has been untouched for 36 hours.  It seems that every time my order doesn't get hash because prices change, it resets the indicator, and next time it starts back up, I get another email.

M

You can change your email settings so that you don't get the "order running low" emails since they are super annoying

Yes.  However, they are useful once.  Not 8 times.

M

If your speed goes up and then down again, mail will be sent again.

Yes.  That's what I just said.  If that's a "feature", it should be removed.

M

[philipma1957]

What is this order on west hash and or nice hash

on westhash it is #374830

on nicehash it is  #374774

these are new and look as false floors that nice and west hash use to pocket mining.

I don't begrudge you making money as we had a long relationship with my signature and as of right now I am using you to rent.
I get that a false floor could be needed to protect your company.
But right now it is costing me money on nicehash as it is set at 0.0096
Maybe I misunderstand it but it has no funds and is set to mine forever with no hash limit.
Please explain this to us.

[philipma1957]

I normally don't double post but look at this page my orders are in blue.

The mystery order is just under my orders.

So if I want to drop to 0.0096 this will kill my hash

So what is order #374774?

[NiceHashSupport]

https://www.nicehash.com/?p=faq#faqb14

[nicehash]

I normally don't double post but look at this page my orders are in blue.

The mystery order is just under my orders.

So if I want to drop to 0.0096 this will kill my hash

So what is order #374774?

Hi, Phil.

This is no mystery order, take a look at the bottom of the orders list: there is a link to FAQ with explanation. We marked it explicitly since we want to provide absolutely transparent service.

Additional information: As you know, NiceHash/WestHash doesn't have it's own hashing power, it completely relies on hashing power sellers. And of course, sellers are not interested in selling hashing power below a certain level of profitability (currently -8%) - we've received several feedback from miners with these concerns. Therefore to sustain a long-term relationship with miners (sellers) we have to provide them at least a decent sustainable price. Otherwise miners (sellers) will go away and there will be no hash to buy whatsoever, or when hash power will be too small prices will go higher. Hopefully you understand this.

It is of no intention for us to make any money with arbitrage orders (since we're not running our own Bitcoin mining pools we have to point arbitrage order to external pools and taking into account variance and external pool fees, therefore arbitrage order will always basically generate us a 0 profit).

Anyway, this might not be our final decision, we're testing out this approach, but we have to find a way for long-term balance between sellers & miners expectations.

Of course, as always, comments are welcome, from both sellers and buyers.

Thank you for using our service!

[Prelude]

I normally don't double post but look at this page my orders are in blue.

The mystery order is just under my orders.

So if I want to drop to 0.0096 this will kill my hash

So what is order #374774?

Hi, Phil.

This is no mystery order, take a look at the bottom of the orders list: there is a link to FAQ with explanation. We marked it explicitly since we want to provide absolutely transparent service.

Additional information: As you know, NiceHash/WestHash doesn't have it's own hashing power, it completely relies on hashing power sellers. And of course, sellers are not interested in selling hashing power below a certain level of profitability (currently -8%) - we've received several feedback from miners with these concerns. Therefore to sustain a long-term relationship with miners (sellers) we have to provide them at least a decent sustainable price. Otherwise miners (sellers) will go away and there will be no hash to buy whatsoever, or when hash power will be too small prices will go higher. Hopefully you understand this.

It is of no intention for us to make any money with arbitrage orders (since we're not running our own Bitcoin mining pools we have to point arbitrage order to external pools and taking into account variance and external pool fees, therefore arbitrage order will always basically generate us a 0 profit).

Anyway, this might not be our final decision, we're testing out this approach, but we have to find a way for long-term balance between sellers & miners expectations.

Of course, as always, comments are welcome, from both sellers and buyers.

Thank you for using our service!

Strongly disagree with this, and I'm a seller. Let the market dictate the price. If sellers don't like the price, they'll switch to another pool until the price comes back up. Anyone mining for -8% (-10% with fee) isn't really keeping an eye on their equipment.

Bottom line is you're costing people money. Let the market regulate it's self.

Was about to place an order, but will take it to MRR instead. I won't be using NH/WH anymore as a seller or buyer until this is resolved.

[philipma1957]

Strongly disagree with this, and I'm a seller. Let the market dictate the price. If sellers don't like the price, they'll switch to another pool until the price comes back up. Anyone mining for -8% (-10% with fee) isn't really keeping an eye on their equipment.

Bottom line is you're costing people money. Let the market regulate it's self.

Was about to place an order, but will take it to MRR instead. I won't be using NH/WH anymore as a seller or buyer until this is resolved.

Well I really like both nice and west hash.

 I have:

A) rented to nice/west hash
B) rented from nice/west hash
C) sold my signature space for 4 or 5 months .

I get that a floor is not the worst idea and you did highlight it. I do think that

it is a form of protectionism.  

As Prelude wrote   (paraphrased by me here)  if you are renting at 10% under- market pay attention and you will be fine.

  I pay attention. I do not use bots
I rent to you when price is high.
I rent from you when price is low.
So my legwork and effort to earn more gets tossed away. By a false bottom.



If you have  a false bottom you need a false top in fact you leave your company open to attack via a lawsuit.  Look at over payers.  Below.

   How about this point? someone puts in a 10btc order at 0.097  He would have a legitimate complaint against you because you put in a false bottom  to protect the ones renting to you.  But no false top to protect the ones renting from you.





 sooo00 why not protect this guy as  he is overpaying  for hash.



better yet  look at this poor guy!!!

[philipma1957]

A quick thank you to nicehash…. They have done what I think is a fair compromise.  they reduced the protective floor from unlimited to 1000th.  Thank you for an effort to met in the middle.

  The new way notice the 1000th limit which:

A) affords somewhat of a safety net  for people renting to nicehash and are too busy to check prices.
B) still allows for watchful  people renting from nicehash to grab a bargain.


Thanks again.  Many pools and or services are: " fuck you blow me bitch "

I really like that you did a compromise.  I will continue to use your services.

Notice my orders in blue can now fit under the floor set.

[nicehash]

A quick thank you to nicehash…. They have done what I think is a fair compromise.  they reduced the protective floor from unlimited to 1000th.  Thank you for an effort to met in the middle.

  The new way notice the 1000th limit which:

A) affords somewhat of a safety net  for people renting to nicehash and are too busy to check prices.
B) still allows for watchful  people renting from nicehash to grab a bargain.


Thanks again.  Many pools and or services are: " fuck you blow me bitch "

I really like that you did a compromise.  I will continue to use your services.

Notice my orders in blue can now fit under the floor set.

Yes, that's correct, we'll try to balance the system to benefit both miners and sellers, so that arbitrage order will always be just a percentage of all available hashing power (not bound to 1 PH, might be less or more, in dependence of total hashing power available).

Thank you for you feedback and @Prelude don't forget that buying prices at MRR are at least 20-30% higher than the cheapest hashing power at NiceHash/WestHash .

Keep on hashing

[Prelude]

Eh, I still see this the same way I see governmental meddling. 1PH floor is better than unlimited, sure, but you're still being forced to pay more than you would without their floor. You're losing out on money and shares, shares which could potentially find a block.

I understand what NH's intention is, but personally I say keep your fingers out of the pot. I think most users will agree. I wouldn't be surprised to see a competitor to nicehash's business model pop up if this floor stays.

Also, if nicehash wants to use power for themselves, that's fine. They should play by the same rules as everyone else, though. They get a 2% discount to start with, anyways.

[Prelude]

A quick thank you to nicehash…. They have done what I think is a fair compromise.  they reduced the protective floor from unlimited to 1000th.  Thank you for an effort to met in the middle.

  The new way notice the 1000th limit which:

A) affords somewhat of a safety net  for people renting to nicehash and are too busy to check prices.
B) still allows for watchful  people renting from nicehash to grab a bargain.


Thanks again.  Many pools and or services are: " fuck you blow me bitch "

I really like that you did a compromise.  I will continue to use your services.

Notice my orders in blue can now fit under the floor set.

Yes, that's correct, we'll try to balance the system to benefit both miners and sellers, so that arbitrage order will always be just a percentage of all available hashing power (not bound to 1 PH, might be less or more, in dependence of total hashing power available).

Thank you for you feedback and @Prelude don't forget that buying prices at MRR are at least 20-30% higher than the cheapest hashing power at NiceHash/WestHash .

Keep on hashing

The 20-30% premium is acceptable when you consider the advantages and additional features MRR brings. That's not a knock on nicehash, which I think is a great service too.

[NiceHashSupport]

A quick thank you to nicehash…. They have done what I think is a fair compromise.  they reduced the protective floor from unlimited to 1000th.  Thank you for an effort to met in the middle.

  The new way notice the 1000th limit which:

A) affords somewhat of a safety net  for people renting to nicehash and are too busy to check prices.
B) still allows for watchful  people renting from nicehash to grab a bargain.


Thanks again.  Many pools and or services are: " fuck you blow me bitch "

I really like that you did a compromise.  I will continue to use your services.

Notice my orders in blue can now fit under the floor set.

Yes, that's correct, we'll try to balance the system to benefit both miners and sellers, so that arbitrage order will always be just a percentage of all available hashing power (not bound to 1 PH, might be less or more, in dependence of total hashing power available).

Thank you for you feedback and @Prelude don't forget that buying prices at MRR are at least 20-30% higher than the cheapest hashing power at NiceHash/WestHash .

Keep on hashing

The 20-30% premium is acceptable when you consider the advantages and additional features MRR brings. That's not a knock on nicehash, which I think is a great service too.

We are not aware of any benefits, besides possible need to submit tickets for refunds when rental not works as expected. But if you really know about some benefits that could improve our service, let us know.

When it comes to this 'floor order' - this is currently testing feature and we will decide how to proceed with this depending how customers respond to it.

[philipma1957]

A quick thank you to nicehash…. They have done what I think is a fair compromise.  they reduced the protective floor from unlimited to 1000th.  Thank you for an effort to met in the middle.

  The new way notice the 1000th limit which:

A) affords somewhat of a safety net  for people renting to nicehash and are too busy to check prices.
B) still allows for watchful  people renting from nicehash to grab a bargain.


Thanks again.  Many pools and or services are: " fuck you blow me bitch "

I really like that you did a compromise.  I will continue to use your services.

Notice my orders in blue can now fit under the floor set.

Yes, that's correct, we'll try to balance the system to benefit both miners and sellers, so that arbitrage order will always be just a percentage of all available hashing power (not bound to 1 PH, might be less or more, in dependence of total hashing power available).

Thank you for you feedback and @Prelude don't forget that buying prices at MRR are at least 20-30% higher than the cheapest hashing power at NiceHash/WestHash .

Keep on hashing

The 20-30% premium is acceptable when you consider the advantages and additional features MRR brings. That's not a knock on nicehash, which I think is a great service too.

yeah I am free market on some levels.  I was getting some really low prices occasionally.  I had the time to look for a price and rent.

  I am always a half loaf is better then none type of guy.  So I do appreciate the compromise idea.

[aarons6]

i like the new stats chart, but it would be nice if you added an avg payrate and a avg % above or below the payline to it.

that way i can click on say 1d and see what my avg payout was and my % above or below the payline was.

[icebear888]

I normally don't double post but look at this page my orders are in blue.

The mystery order is just under my orders.

So if I want to drop to 0.0096 this will kill my hash

So what is order #374774?

Hi, Phil.

This is no mystery order, take a look at the bottom of the orders list: there is a link to FAQ with explanation. We marked it explicitly since we want to provide absolutely transparent service.

Additional information: As you know, NiceHash/WestHash doesn't have it's own hashing power, it completely relies on hashing power sellers. And of course, sellers are not interested in selling hashing power below a certain level of profitability (currently -8%) - we've received several feedback from miners with these concerns. Therefore to sustain a long-term relationship with miners (sellers) we have to provide them at least a decent sustainable price. Otherwise miners (sellers) will go away and there will be no hash to buy whatsoever, or when hash power will be too small prices will go higher. Hopefully you understand this.

It is of no intention for us to make any money with arbitrage orders (since we're not running our own Bitcoin mining pools we have to point arbitrage order to external pools and taking into account variance and external pool fees, therefore arbitrage order will always basically generate us a 0 profit).

Anyway, this might not be our final decision, we're testing out this approach, but we have to find a way for long-term balance between sellers & miners expectations.

Of course, as always, comments are welcome, from both sellers and buyers.

Thank you for using our service!

Strongly disagree with this, and I'm a seller. Let the market dictate the price. If sellers don't like the price, they'll switch to another pool until the price comes back up. Anyone mining for -8% (-10% with fee) isn't really keeping an eye on their equipment.

Bottom line is you're costing people money. Let the market regulate it's self.

Was about to place an order, but will take it to MRR instead. I won't be using NH/WH anymore as a seller or buyer until this is resolved.

You are correct bro ..
this is the first time see service like this .. i well stopped my account in this service .. fuck you nicehash

[nicehash]

You are correct bro ..
this is the first time see service like this ..

As you can see we'are adjusting the arbitrage level to a very modest level purely to give a minimum level of protection for miners so that the mining profitability wouldn't drop into unreasonable levels.

Also, there are many services doing internal protection measures and leveling to make sure service is optimal for all involved parties (even exchanges at some levels). Probably the main difference is that in our case we decided to do it in a completely transparent and public open manner since we're big supporters for open market and transparent services.

Kind regards,
NiceHash

[icebear888]

You are correct bro ..
this is the first time see service like this ..

As you can see we'are adjusting the arbitrage level to a very modest level purely to give a minimum level of protection for miners so that the mining profitability wouldn't drop into unreasonable levels.

Also, there are many services doing internal protection measures and leveling to make sure service is optimal for all involved parties (even exchanges at some levels). Probably the main difference is that in our case we decided to do it in a completely transparent and public open manner since we're big supporters for open market and transparent services.

Kind regards,
NiceHash

That's no correct , if many company doing that , maybe the best company need to do that the exchange company like BTC-e OR Bitstamp , to protect the bitcoin not going down .
You need to look more for this addition , or you well lose more client's

Regards