NiceHash Ethereum mining pool with auto-exchange to Bitcoin

kenshirothefistkenshirothefist Member Posts: 73
Hi,

At NiceHash you can also mine Ethereum, among many other things. We are offering direct auto-exchange to Bitcoin which is a great way to make good profit for the lazy miners ;) . For details please see this Press Release: https://www.nicehash.com/index.jsp?p=news&id=64

Best regards,
kenshirothefist

Comments

  • adasebadaseb Member Posts: 1,043 ✭✭✭
    Yes however you are taking in almost 33% in fees instead of mining ETH directly.
  • kenshirothefistkenshirothefist Member Posts: 73
    No, fees are 3%, not sure where you got your calculations from.
  • adasebadaseb Member Posts: 1,043 ✭✭✭
    You are currently paying 0.4547BTC/GHS/DAY

    Mining directly 1 GHS yields 24.5 ETH a day which is currently 0.6419 BTC.

    So you profit about 29%, plus the 3% fee.
  • kenshirothefistkenshirothefist Member Posts: 73
    edited March 2016
    Where did you get your calculations from? If you are using online calculators such as http://badmofo.github.io/ethereum-mining-calculator/ or http://ethereum-mining-calculator.com/ you should know that these calculators are completely wrong. They are not taking the past DAG file increase into account which makes their calculations completely wrong. You can only compare our profit by profits from another pool with the same miner speed and you'll see that the profits are approximately the same.

    Best regards,
    kenshirothefist
  • adasebadaseb Member Posts: 1,043 ✭✭✭

    Where did you get your calculations from? If you are using online calculators such as http://badmofo.github.io/ethereum-mining-calculator/ or http://ethereum-mining-calculator.com/ you should know that these calculators are completely wrong. They are not taking the past DAG file increase into account which makes their calculations completely wrong. You can only compare our profit by profits from another pool with the same miner speed and you'll see that the profits are approximately the same.

    Best regards,
    kenshirothefist

    They are close enough, maybe max difference is 5% or so because I mine on Dwarfpool and my total hashrate is equal to the amount in the calculators.

    280Mh/s and I made almost 7 ERTH a day.

    Taking 33% is highway robbery.
  • kenshirothefistkenshirothefist Member Posts: 73
    Once again, our fee is 3%. The math that you are doing is not that simple. In the last 24 hours the BTC/ETH exchange rate was flapping for 30%, and our profitability is normalized to exchange rate, difficulty and other parameters. You can't simply compare apples to oranges. You said you made 7 Etheres today, but how much BTC you made depends also on the exchange rate in a particular moment. That said - for someone, who wishes to speculate, or do manual exchange multiple times per day, you would probably earn a bit more with direct mining and doing manual exchange (with the exception in case if Exchange rate suddenly drops significantly - in this case you would loose in comparison to auto-exchange). On the other hand NiceHash brings a good alternative for someone who would like to get simplified mining with auto-exchange and not worrying on the Exchange rate.
  • adasebadaseb Member Posts: 1,043 ✭✭✭
    I compared it to the real-time rate, your BTC/GHS/DAY seems to change with the price.

    And the ethereum calculators seem to be off by around 10% or so. So it still seems to be about 20% fee instead of 3%.

    I also randomly looked at a few public stats and compared the hashrates and they seem to be off by 10% or so.

    I like your site and everything and would mine with NH but I would be losing at least 20% potential profit instead of just mining directly with the pool.
  • NailozNailoz Member Posts: 1
    Nicehash is stealing mining rewards. Be caution before doing business with them. You can find details on bitcoin forum.
  • kenshirothefistkenshirothefist Member Posts: 73
    Eh, Nailoz is only trolling, unfortunately. It has all been explained on the bitcointalk forum: https://bitcointalk.org/index.php?topic=562238.msg18410018#msg18410018

    NiceHash is paying tens of thousands sellers every single day, and none of them missed a payment because they used (valid) bitcoin address for mining.

    We do not recommend running advanced mining software directly (such as sgminer, eqm, ccminer) for non-advanced users - it is best to download and run NiceHash Miner.
  • ErnestErnest Member Posts: 5
    I am mining on Nicehash with about 3 month no problems have ,
  • DrawdeDrawde Member Posts: 32
    adaseb said:

    Where did you get your calculations from? If you are using online calculators such as http://badmofo.github.io/ethereum-mining-calculator/ or http://ethereum-mining-calculator.com/ you should know that these calculators are completely wrong. They are not taking the past DAG file increase into account which makes their calculations completely wrong. You can only compare our profit by profits from another pool with the same miner speed and you'll see that the profits are approximately the same.

    Best regards,
    kenshirothefist

    They are close enough, maybe max difference is 5% or so because I mine on Dwarfpool and my total hashrate is equal to the amount in the calculators.

    280Mh/s and I made almost 7 ERTH a day.

    Taking 33% is highway robbery.
    I have 197 Mh/s and only get 1 ETH every 3 days from ethermine.org so I must be doing something wrong. Can changing pools have such a dramatic difference?
  • listmanlistman Member Posts: 51
    edited April 2017
    280mh/s a day does not equal 7 ETH a day maybe 0.70 a day but not 7, to much POTCOIN??? looks like 280 equals about 0.45 a day so can you tell us what kind of voodoo you got going on? :wink:
  • cidmocidmo Member Posts: 445 ✭✭✭
    280Mh would get u 7 eth a day a year ago when that post was made
  • e_ownere_owner Member Posts: 8
    Well, there are a lot of negative reviews about Nicehash, people complain of stealing hash, increasing difficulty and so on. Should I trust them or it’s still worth trying to mine with them? I also thought of cloud mining. The articles say it is more profitable - http://miningtop10.com/ Any ideas?
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