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

[rkinnin]

I am not sure if this is the right NiceHash area to post this to...but....

I do both buying and selling on nicehash....but in this case for discussion today...

I am a buyer......

Over the last two weeks I have seen a lower than normal positive result in my "profits" with mining.

I typically deposit .40 BTC....at 40Th...and generally get .42 - .44 back about 24 hours later.  ....been working fine like that for months.

The last two deposits I got .37 back and then on the next go around I got .316.   Obviously not what I want to see.

I have been using antpool as the pool.

I am looking for real thoughts not just responses like "well thats Antpool for you."

Thank you in advance.

as the difficulty goes up the profits will go down..

40TH right now should yield 0.3231 btc a day.. this is at 100% luck tho.. something you probably wont get.. so expect less..

ah yes....the dreaded difficulty, strikes again. 

What I was seeing at 40 Th at .40 BTC was 1 day 9 hours [or so]. 

I am guessing what I had was a new difficulty level and a couple of days of just plain "bad" luck. 

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[nicehash]

I want to set one miner to mine on nicehash but send the payment to an auto convert, anyone know an easy way to do this or should I just shapeshift the funds weekly?

We'are actually working on a solution for this with ShapeShift. But we need them to upgrade their API so that we can do many-to-many transactions - this way we'll be able to make payouts in a range of currencies. If you want to speed up this implementation contact them (https://shapeshift.zendesk.com/hc/en-us/requests/new) and express your support for "Extended API support for multiple receiving addresses" feature request. Thanks!

Best regards,
NiceHash team.

[samwil]

We need more hashing power!
your site is not letting me place an order.  All I get is please wait after I enter the order.

[nicehash]

Take a look at this excellent profitability on Scrypt and SHA256 algorithms!

Join the ride!

[kano]

Yes sounds like a good idea, push the prices up and make sure YOU get more profits.
Hopefully most miners aren't stupid enough to listen to that.

[nicehash]

Yes sounds like a good idea, push the prices up and make sure YOU get more profits.
Hopefully most miners aren't stupid enough to listen to that.

kano, many miners are looking to get best profits with their gear, not sure why are you calling them stupid. Yes, we are here to make profits and provide a nice added-value service for miners and other crypto currencies users. You're also running your pool for profit. Let's keep it this way - we are never interfering with the way your are running your pool, so please also allow us to run our service as well - without negativism and unnecessary judging us and/or miners being stupid or whatever. Thanks.

Best regards,
NiceHash team.

[kano]

Well when you charge 6% on the rental income and claim short term profits that, really, people should expect to be long term losses vs normal pool mining, due to the high fees, it seems rather dodgy.

[nicehash]

Well when you charge 6% on the rental income and claim short term profits that, really, people should expect to be long term losses vs normal pool mining, due to the high fees, it seems rather dodgy.

Miners fee is 3%, and we are paying PPS. Miners knows damn well why it is profitable to stay with NiceHash. Please keep your consultancy on profitability in your own thread, thanks.

Best regards,
NiceHash team.

[kano]

Well when you charge 6% on the rental income and claim short term profits that, really, people should expect to be long term losses vs normal pool mining, due to the high fees, it seems rather dodgy.

Miners fee is 3%, and we are paying PPS. Miners knows damn well why it is profitable to stay with NiceHash. Please keep your consultancy on profitability in your own thread, thanks.

Best regards,
NiceHash team.

Wow, that makes it seem even more dodgy to try to deflect attention away from the fact that your cut of the rental is 6% ...

[nicehash]

Wow, that makes it seem even more dodgy to try to deflect attention away from the fact that your cut of the rental is 6% ...

Eh, kano, whatever makes you happy ... Everything is completely public https://www.nicehash.com/index.jsp?p=faq#faqg2 without any deflect attention ... miners are charged 3% and buyers are charged 3% ... just the same as on the exchanges or other added-value services were buyers are charged X% and sellers are charged Y%.

Anyway, to get back to topic: the high profit rates are still ongoing, keep on mining


Best regards,
NiceHash team.

[aarons6]

can you guys explain something to me.. maybe im not getting the math right, but..

Scrypt   3333   0.1429 *  92%

it says its paying 92% more then 1/gh/day on scrypt.. but..
my calculations.. 1/gh/day on scrypt is 0.1481.. meaning you are actually down like 3%

how i get this number is go here..
https://bitcoinwisdom.com/litecoin/difficulty
put 1ghs in.. take 18.97 LTC a day and convert that into btc from exchange rate..



so why is your front page saying its green up 92% above what you would get out of mining scrypt coins directly??

[nicehash]

how i get this number is go here..
https://bitcoinwisdom.com/litecoin/difficulty
put 1ghs in.. take 18.97 LTC a day and convert that into btc from exchange rate..

The calculator on bitcoinwisdom.com is totally off, because they forgot to switch from 50 LTC to 25 LTC reward per block. Someone should want them about this.

This http://www.coinwarz.com/calculators/litecoin-mining-calculator or this https://www.litecoinpool.org/calc calculator will give you real actual numbers. And with these real numbers you'll get the +92% NiceHash profitability (as of time of your writing, it's  a bit lower currently, but still way above direct Litecoin profitability).

So, yeah, mining Scrypt on NiceHash is very profitable.

Best regards,
NiceHash team.

[aarons6]

how i get this number is go here..
https://bitcoinwisdom.com/litecoin/difficulty
put 1ghs in.. take 18.97 LTC a day and convert that into btc from exchange rate..

The calculator on bitcoinwisdom.com is totally off, because they forgot to switch from 50 LTC to 25 LTC reward per block. Someone should want them about this.

This http://www.coinwarz.com/calculators/litecoin-mining-calculator or this https://www.litecoinpool.org/calc calculator will give you real actual numbers. And with these real numbers you'll get the +92% NiceHash profitability (as of time of your writing, it's  a bit lower currently, but still way above direct Litecoin profitability).

So, yeah, mining Scrypt on NiceHash is very profitable.

Best regards,
NiceHash team.

thanks. wasnt sure

[Legacy2005]

you may want to update who you allow to sell their hash power to your site.

if i place an order for 5th i dont expect to see 12 miners be assigned to my order especially if i want to point that order to a solo pool.

and assigning more hash power to my order then i want doesn't fly either. i put a cap on how much i want for a reason and expect that cap to be respected not completely ignored and have double/triple the amount of hash assigned to my order just to burn through my btc faster.

[rossi.joel]

site does not open error gives me what should I do I would appreciate your help 

[aarons6]

you may want to update who you allow to sell their hash power to your site.

if i place an order for 5th i dont expect to see 12 miners be assigned to my order especially if i want to point that order to a solo pool.

and assigning more hash power to my order then i want doesn't fly either. i put a cap on how much i want for a reason and expect that cap to be respected not completely ignored and have double/triple the amount of hash assigned to my order just to burn through my btc faster.

1 it doesnt matter if you have 12 or 1200 as long as you get what you paid for its exactly the same.
2 why should it matter if they give you extra free of charge? hello bonus

[aarons6]

why is it on the ethereum sometimes my immature flatlines and it doesnt look like i made any coins for hours.. my hash rate is what it always is, and most of the day the coins go up at a nice and predictable rate..

[Legacy2005]

you may want to update who you allow to sell their hash power to your site.

if i place an order for 5th i dont expect to see 12 miners be assigned to my order especially if i want to point that order to a solo pool.

and assigning more hash power to my order then i want doesn't fly either. i put a cap on how much i want for a reason and expect that cap to be respected not completely ignored and have double/triple the amount of hash assigned to my order just to burn through my btc faster.

1 it doesnt matter if you have 12 or 1200 as long as you get what you paid for its exactly the same.
2 why should it matter if they give you extra free of charge? hello bonus

1) it does matter as a old crappy miner will pretty much never hit a block. and the whole point is to hit blocks.

2) its not bonus they charge you for the overage. so if I request 5 and they put me at 10 they are charging me for 10.

[aarons6]

you may want to update who you allow to sell their hash power to your site.

if i place an order for 5th i dont expect to see 12 miners be assigned to my order especially if i want to point that order to a solo pool.

and assigning more hash power to my order then i want doesn't fly either. i put a cap on how much i want for a reason and expect that cap to be respected not completely ignored and have double/triple the amount of hash assigned to my order just to burn through my btc faster.

1 it doesnt matter if you have 12 or 1200 as long as you get what you paid for its exactly the same.
2 why should it matter if they give you extra free of charge? hello bonus

1) it does matter as a old crappy miner will pretty much never hit a block. and the whole point is to hit blocks.

2) its not bonus they charge you for the overage. so if I request 5 and they put me at 10 they are charging me for 10.

i dont think 1 is true.. its not how it works.. 100 1ghs miners will make the SAME amount as 1 100ghs miner.
 
plus 2 is kind of the same as 1.. if you wanted 5 for 2 hours but got 10 for 1 hour you should make the same amount of whatever coins you were mining.. factoring in luck..

what you have is a gamblers fallacy..



The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the mistaken belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future, or that, if something happens less frequently than normal during some period, it will happen more frequently in the future

[Legacy2005]

believe what you want. when was the last time a gpu hit a block? 2012?

its not about amount of hash in a given time frame I wanted/ordered 5 for 24hrs. that's what I want not 50 for 1 hour. I put a limit on it for a reason.