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

[nicehash]

Sell your hashing power as simple as using a PPS pool!

www.nicehash.com

This thread is intended for a quick overview and debate for miners (sellers/providers) of hashing power, who can use NiceHash.com as simple any other Bitcoin/SHA256 pool/multipool. The complete description of NiceHash.com service is available in this topic.

Why use NiceHash.com SHA256 mining pool?
- It is as simple as using any other pool/multipool with PPS payments
- Higher profits than direct mining BTC, detailed in statistics
- Automatic payments in Bitcoins up to 4 times a day
- No registration needed
- Stable and reputable service from April 2014

NiceHash.com is the most suitable service for miners who are looking for easy and profitable mining experience with higher profits than direct mining BTC.

Take a look at our Getting started guide and start mining on our pools.

Keep in mind that NiceHash/WestHash is a PPS pool with higher profits that direct mining BTC (see Stats on our homepage).

With the fees set to only 3% our pool has the lowest fee among popular PPS paying pools (usualy at 4% or 5% fees).

Click here to see how to get started right now!

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[aurel57]

I have friends that have been telling me to try NiceHash so I just moved my miners over to WestHash and I like what it shows so far.

[Paul Revere]

Is there a limit to how small of a contribution someone can make? Meaning, can I point one of my S1s there to test out these fantastical figures? 

[aurel57]

It shows I have made in two hours what would have taken me 16 hours on PPS?

[aurel57]

Is there a limit to how small of a contribution someone can make? Meaning, can I point one of my S1s there to test out these fantastical figures?  

I would think it would not matter what size miner you use.

[Paul Revere]

So it seems. I read through the Nicehash website and it appears you can use any miner, although there seems to be issues with people using junkers with outlandish error rates screwing things up. My Spidey sense says that something that is too good to be true usually isn't, but if they are paying 4 times a day I don't see much risk in pointing one over there. The site is currently quoting .0886 BTC/THs/Day. The Coinwars projection is .0226. My main reservation to trying this at the moment is that Slush is having a boomer of a day (FINALLY) and I am running @ about .03/Ths/Day currently and I don't want to pull off of that tit right now. Maybe if things cool off I will give it a try. I do understand the business model (Sell to sucker and buy from me and keep a cut), all you have to do is check Ebay and see the (insert derogatory term for zero math skill person here)'s paying $5-$10/day to rent S3's. The issue there is disgruntled buyers and full on scammers though.

[aurel57]

So it seems. I read through the Nicehash website and it appears you can use any miner, although there seems to be issues with people using junkers with outlandish error rates screwing things up. My Spidey sense says that something that is too good to be true usually isn't, but if they are paying 4 times a day I don't see much risk in pointing one over there. The site is currently quoting .0886 BTC/THs/Day. The Coinwars projection is .0226. My main reservation to trying this at the moment is that Slush is having a boomer of a day (FINALLY) and I am running @ about .03/Ths/Day currently and I don't want to pull off of that tit right now. Maybe if things cool off I will give it a try. I do understand the business model (Sell to sucker and buy from me and keep a cut), all you have to do is check Ebay and see the (insert derogatory term for zero math skill person here)'s paying $5-$10/day to rent S3's. The issue there is disgruntled buyers and full on scammers though.

I use to mine on Slush a few years ago. I am not sure who is renting these miners at such a high rate on NiceHash but I will take the good pay while it last as I am sure it will not be for long.

Edit: Am wondering if they are using the hash to mine another SHA256 coin other than BTC that maybe be hot at the moment. I really don't follow any other coins so I am not sure.

[Paul Revere]

I suspect that is what people buying hashpower are doing, at least those who do it for any length of time. I have tried this (mining the hot alt coin of the moment)  but always end up chasing butterflies it seems. I can understand a looky-loo just wanting to try mining overpaying for a short period of time.  I pointed an S1 and an S3 there. I think I did it right. I signed up and pointed them to the stratum address for SHA-256 using my wallet address as user name, like a P2pool. IS this correct? Did I miss something? How do I monitor what is happening? Do I just wait for a payout in 6 hours??

[nicehashdev]

I suspect that is what people buying hashpower are doing, at least those who do it for any length of time. I have tried this (mining the hot alt coin of the moment)  but always end up chasing butterflies it seems. I can understand a looky-loo just wanting to try mining overpaying for a short period of time.  I pointed an S1 and an S3 there. I think I did it right. I signed up and pointed them to the stratum address for SHA-256 using my wallet address as user name, like a P2pool. IS this correct? Did I miss something? How do I monitor what is happening? Do I just wait for a payout in 6 hours??

If you pointed to your deposit address on NiceHash then you will not be paid. Read this:

Do NOT mine into this address directly! Mining payments to this address will be ignored and considered as donations! Also, do NOT use this wallet Bitcoin address for pool username when configuring your miner for mining on our stratum servers. Use your own personal or cloud Bitcoin wallets for mining. This is a deposit address only for buying hashing power. Thank you for understanding.

Your have to use your own wallet address, not the deposit one provided by NiceHash. Also, if you are a miner, you don't have to create account at all, just point your miner with your BTC address as username.

[Paul Revere]

Thank you for the quick reply. I did actually read that and I am using my personal regular wallet receive address for the username and not the one provided by Nicehash. Are the payouts done @ exact UTC times or per when the mining session started?

[aurel57]

I suspect that is what people buying hashpower are doing, at least those who do it for any length of time. I have tried this but always end up chasing butterflies it seems. I can understand a looky-loo just wanting to try mining overpaying for a short period of time.  I pointed an S1 and an S3 there. I think I did it right. I signed up and pointed them to the stratum address for SHA-256 using my wallet address as user name, like a P2pool. IS this correct? Did I miss something? How do I monitor what is happening? Do I just wait for a payout in 6 hours??

I went to the miners list on the upper right hand side. then scrolled down to my payment address which is easy to find just looking around your hash rate. Once you click on your payment address it will show you your miners. now i am trying to figure out how to number my miners as i have 6 S3's pointed here.

[Paul Revere]

Update: I see my miners in the list, thanks for the tip Aurel. So far so good. Fingers crossed that I am not chasing butterflies here.....

P.S: A way to differentiate your miners would be to use different receive addresses for each, depending on what wallet you are using you may already have several available. I have been doing this on P2pools that I have tried.

[nicehashdev]

NiceHash has very large FAQ section. You can name your miners and still mine under same BTC address. Read this: https://www.nicehash.com/index.jsp?p=faq#faqs1

[aurel57]

NiceHash has very large FAQ section. You can name your miners and still mine under same BTC address. Read this: https://www.nicehash.com/index.jsp?p=faq#faqs1

I some how looked past it, but got it now. thank you

[Paul Revere]

Same here, that is a nice feature. I went ahead and pointed all 5 of my miners there for a real test.

A question I still have that I did not see answered in the FAQs is: At what times are the payouts made? It says 4 times per day, but not what these 4 times are. Are they made at UTC times, i.e. 12 midnight, 6 am, 12 noon, 6 pm UTC???

[aurel57]

Update: I see my miners in the list, thanks for the tip Aurel. So far so good. Fingers crossed that I am not chasing butterflies here.....

P.S: A way to differentiate your miners would be to use different receive addresses for each, depending on what wallet you are using you may already have several available. I have been doing this on P2pools that I have tried.

I also set my password as p=.013 so if the buying rate drops below .013 per TH/s my miners will move to my PPS pool as I can get that much on PPS.

[aurel57]

Just received my first payment for 5 hours of mining.  very nice!

[nicehash]

We need more hashing power! What are you waiting for, point your SHA256 miners to NiceHash.com / WestHash.com!

[OgNasty]

I also set my password as p=.013 so if the buying rate drops below .013 per TH/s my miners will move to my PPS pool as I can get that much on PPS.

That is a pretty cool feature...

[aurel57]

I also set my password as p=.013 so if the buying rate drops below .013 per TH/s my miners will move to my PPS pool as I can get that much on PPS.

That is a pretty cool feature...

Kind of what I thought also. Will wait and see how it works out. I believe then if the rate ever comes back up to my threshold the miners will move back to WestHash by themself.