Here we go, now Hashflare has limited users able to login to a few times per day thanks to Cloudflare blocking system and the blocking is done by the site provider. So get this I am in the midst of purchase and pow YOU ARE BLOCKED by the site owner. Error 1015 is what you get and you have limited access.Many sites are going to start using this service to limit activities from DDOS attack. So i don’t know if my purchase went threw but like I said kicked during purchase. Waiting for a reply by Hashflare hope they respond. Wow another increase for withdraws. WHAT IS BITCOIN CLOUD MINING; BITCOIN CALCULATOR. Guide to cloud mining on Hashflare. To get funds to my btc wallet looks lake hashflare. It takes $ BTC to withdraw 0.01 BTC and up. The reason it gets higher is to move transactions quicker and I find this complete bullshit. Future-bank.com does Micro transactions of BTC of 0.00004 directly to coinbase in minutes. This Cloud is hungry and it will give less and less as they can. This is getting worse as time goes. BTC Difficulty shot up now profits went down drastically and fees go up. I send BTC via Wallet from my PC and have no issues “WTF” is going on. If this keeps up the world will reject BTC as currency as the fees become insane. If everybody was to control there fees and lower them they will get processed. I also noticed the higher you pay the faster your transaction go threw. Well as they keep getting rich I guess I’m a moron that keeps getting suckered into this trap. MONEY HUNGRY BASTARDS FOR SOME IN THIS WORLD JUST LIKE FIAT THAT PEOPLE WOULD KILL FOR JUST TO BETTER THEMSELVES AND SCREW THE LITTLE GUY. ONCE YOU HAD TASTE OF THAT WORLD SOME NEVER COME BACK DOWN. This is got to be bullshit in the making. They upped the withdraw amount so low be miners cant withdraw and profit from the fork yet to come. Remember if you have a lot of bitcoin you yet can benefit from the fork yourself. Buying contracts before the fork is also a way for the Cloud Miners to gain profit for them selves. Genesis Mining just promoted order in advance for contracts so they can do the same and profit from the fork. I say you should hold your coin until the fork ends and then watch as the contracts are all sold out. Its all a game of profit for them and a plot for all of us to loose. The fact that they retroactively changed the terms of contracts that already exist from unlimited down to one year (and, technically, less than one year for contracts purchased in the 2 week span between the date they selected and the date of the announcement) in and of itself has convinced me to never buy from them again. Even if I give them the benefit of the doubt and assume that they are running actual mining operations, the contract I had explicitly stated that the only conditions that would stop payout is if the fees were to equal or exceed the return. That clearly has not happened. On the contrary, they seem to have decided to do this in response to a shortage of equipment which really means this move was meant to enable them to sell more later. If they decided they’d rather run 1 year contracts they could have easily and legally done so by making all new contracts last 1 year, and keeping the contracts that were listed as unlimited at unlimited. That’s quite clearly illegal, and so even their one year contracts were to be profitable (less likely since they doubled their prices alongside this move) I’d be worried about them randomly changing the terms again or, more likely, being sued by angry investors. The moment they stop paying me, they will be in violation of the terms of my agreement with them, which means that if they backpedal their decision they will be able to avoid the legal nightmare that awaits them. They could somewhat improve their PR by doing so, but not enough to convince me to buy from them again. Add to this matter the significant unrealistic delays, which they blame on a third party proccessor, and things become even more suspicious. I mean, Read more ». I am not sure if anyone knows but DO NOT buy any contracts from HashFlare.io because 2 days ago, they announced change of policy in their contract so they DO NOT offer lifetime contacts anymore and its limited to 1 year only, so there are other providers offers lifetime contact and less expensive maintenance fees. The management have stopped replying to any customers overnight and people invested with them have lost lots of money. On addition to that, their hash rate dropped and prices have increased with no reason behind it. Basically they are super greedy and started SCAMMING customers. I strongly suggest everyone to use different provider and please do your research. Even that scenario wouldn’t justify anything. The way the unlimited contracts were presented was similar to another program HashCoins used to have where you buy the equipment, pay the fees, and they eventually mail you the hardware at the end of the contract. The terms said that if the maintaince fees and electric costs were to exceed the return then the contracts would cease which basically means that you bought a piece of a hardware (like a time share) and they are paid to manage it. If the operation is handled correctly, their profits come from selling the hardware in this manner and through the fees, meaning that it shouldn’t matter to them if it becomes harder to mine because the return from hashing power should be the same no matter who is running it for a given difficulty level. Before surfing website, I know nothing about cryptocurrencies and has no idea what they are. After referred by online comments, I found that has a good reputation and has a throughout reviews over all mining contracts. After several days decision, I purchase a contract through GM using 3% discount code “RuGx4I” and a contract through HashFlare using the referral link:. Of course, don’t know what is the on-going trend of the cryptocurrencies in the future, but I am quite sure that cryptocurrencies will become one of the transaction method in the future. Been successfully trialling Hashflare for 6 months now and just upped my investment substantially after analysing the returns I’m getting. I have reinvestment switch on and mak a compound increase in hashpower of 0.6% per day, try and get that anywhere else! Let it build for a year or so and then start to to take an income from it. 10Th/s will build to over 80Th/s in a year! (That’s without the predicted increase in the price of bitcoin as it starts to be seen as a mainstream investment asset rather than a coin). I’d say worth a try with $100, analyse the return and then go for it. As a person who have tried a lot of cloud minings and been in the cryptocurrency field for a while, I can see that among all cloud minings, there are only genesis-mining, hashflare, hashing24, bitcoin.com whose reputation and truthworthy is highly recognized. At further analysis, regarding profitability and ROI: – Hashing24: the customer service and payout is the best here, rarely they receive complaints and customer negative reviews for their services. However, the rate is too high, cost per TH/s is a few times higher than Genesis Mining and Hashflare. This is the reason why I didnt invest in their services. – Genesis-Mining: the longest operation period with highest trust rate online, the firm runs with the most transparency in term of operation and mining facilities. Reasonable payout (having delayed payout issues recently) and profit rate. Their cost is decent with the lowest maintenance fee, I would say in term of long-term profit, Genesis Mining is the best. I used them for a while and recognized their potential investment. Longest mining contract for ETH, Monero at the moment. Recommending: ETH mining, BTC mining. – HashFlare: not much for saying, they started later than Genesis-Mining but already proved their standing. The customer satisfactory is only 2nd after Hashing24, maintain regular payout and profit rate. Furthermore, the cost per TH/s is the lowest among all with average maintenance fee. With the situation where mining difficulty is rising, I would say this is the best for short-term investment. I personally rate their bitcoin cloud mining will be the MOST SHORT-TERM PROFITABLE. However, their demerit is only 1 year contract for other AltCoins at a little rate cheaper. Recommending: BTC mining. – Bitcoin.com: I can say they are the MOST TRUSTWORTHY cloudmining since they developed this new function based on a previous bitcoin news Read more ». Boss, From my side I just invest 4$ at 2017-02. Right now I have 1ths bitcoin hash.and 0.6 mhs eth hash. I make 2time withdrawal. Bit and eth withdrawal also fine. With in five minutes I received my payments. I get some information from Google about hashflare. Hashflare is partner of hashcoin company. And hashcoin company is we can find in Google map. And there are calculating mining power from coinwars.com. I don’t like to take hight risk so 4$ is I already withdraw and I have more than 300$ value hash’s So my opinion is hashflare is 100/100. [BEWARE HASHFLARE IS HAVING ISSUES WITH PAYMENT. I PURCHASED MINING CONTRACT FROM THEM JUST TO TRY IT OUT ON THE 6TH OF MARCH 2017 BUT THEY HAVE REFUSED TO ALLOW ME MINING. BELOW IS A COPY OF THE TRANSACTION Operation date: 06 Mar 2017 03:20 Operation ID: 320193467 Operation type: transfer Shop: hashflare.io Status: success Debited: 12.12 $ Credited: 12.12 $ Bill number in store: 679910 PAYMENT MADE VIA PAYEER. I CONTACTED THEIR SUPPORT VIA EMAIL AND THEY DID NOT REPLY TILL DATE. I CONTACTED THEM ON FACEBOOK AND THEY SAID I SHOULD CONTACT THEM VIA EMAIL THAT THEY HAVE ISSUES. I LOGIN TO MY ACCOUNT TODAY AND THEY SAID PAYMENT TIMED OUT. MEANWHILE, UPON PAYMENT THEY SENT ME AN INVOICE OF SUCCESSFUL PAYMENT RECEIVED. THEY ARE SCAMMING ME, SO THEY ARE SCAMMERS. ALL POTENTIAL INVESTORS PLEASE BEWARE OF HASHFLARE.IO Invoice #679910 HashCoins LP 44/46 Morningside road, Edinburgh EH10 4BF Scotland, United Kingdom PR Product Name Quantity Price Total HashFlare.io SHA-256 hashrate 0.1 TH/s 120 $ 12 $ Subtotal VAT (0%) Total 12 $ 0 $ 12 $ Thank you for your business. Sincerely yours, HashCoins Team. So I took advantage of the 17% Christmas discount and the one time 5% off code to get a total of 22% off of a 2.5TH/s SHA-256 bitcoin mining contract for $237.50. The daily payout was $0.57. My earnings for the 24-hour period totaled $1.85 (or 0.00187 bitcoins) but there is a hidden daily maintenance fee of 0.001 bitcoins which reduced my earnings about $1.00; furthermore there is a power fee of around $0.004 per every 10GH/s which amounted to another $0.28 loss. Bitcoins were at a high of $875 during the period. At this rate it would take about 417 days to recover my original investment, assuming bitcoin values will perfectly double as difficulty is doubled. After 2 years this would average a 57% profit. I currently have 2 Antminer S7s and 1 Antminer S9, averaging earnings between $9 and $22 daily (or 0.01 to 0.03 bitcoins) yielding an ROI in 200 days (before electric costs). After electricity at 0.12 per KW/h I earn $100 to $280 a month leaving a ROI of about 1 year. This yields a 57% profit for 1 year. My advice, is not to invest unless you can buy at least 10TH/s or if you can catch a 50% of coupon before the expiration, then maybe 5TH/s would be an attractive buy. Either should yield around a 3 month ROI, ending in about 300% profit after 1 year. If you reinvest those gains then the compounded interest could squeeze out a total of about 400% after 2 years, earning 2500 from a 500 investments or 1250 from a 250 investment, a fairly attractive offer when you consider that a 10000 total investment would result in 50000 after just 2 years. The mining starts immediately after confirmed payment. First payouts within 24 hours.There is no time limit, no expiry date. Use our system for however long you would like. Choose the amount to withdraw and receive it instantly. View all mining related information in real-time, at any point from any location. You can decide which pools you want your hashrate to mine in. This allows you to find the most profitable combination. No hidden fees or commissions. Every single transaction is visible to you. LETTER FROM HASHFLARE: Dear friends, It is our duty to let you know that due to the recent breach in the DAO contracts, ETH mining and withdrawals will be blocked until the breach is fixed. At this exact moment, the developers of the DAO and Ethereum are working hard to solve the issue. However, according to information provided by the developers of Ethereum, it is possible that a “soft fork” will be created. This means that currently it is unsafe to make any transactions or mine Ethereum due to a possible blockchain revert, which will irreversibly nullify the transactions, leaving all parties without the funds. We are constantly monitoring the situation and will activate the mining process along with the withdrawals as soon as the solution is deployed on the Ethereum side. Sales of ETHASH contracts is also suspended until the issue is resolved. We will keep you updated on the situation. Stay tuned, HashFlare.io Team. LETTER FROM HASHFLARE Dear Friends, We were extremely busy launching Ethereum cloud mining in March and April. We tried our best to stay in touch with you and keep you updated at all stages. Drawing a line we can announce that everything went according to plan: currently both batches of hardware are working at 100% capacity meaning that you have already received your first Batch 2 payouts! Starting from all Ethereum cloud mining contracts are launched immediately upon purchase! Another piece of good news is the fact that we have finished with the preparations for ETH withdrawals and made them available to you as a test. Please make sure that you have added an ETH wallet address to the system. During the open test, we have limited each account to withdraw once every day (the limit resets at midnight GMT). We also ask you to be patient if a withdrawal takes longer than usual. These effects are temporary, until we are sure everything is working as planned. The current transaction fee for ETH withdrawals is 0.0006 ETH, minimum amount is 0.0001 ETH, so in order to make a withdrawal you need at least 0.0007 ETH on your balance. Stay tuned for more news! With best regards, HashFlare.io Team. LETTER FROM HASHFLARE: Dear Friends, The spring sun is shining brighter outside and we would like to share the good mood and make an announcement! We are extending our March discounts until the end of April! We remind you that currently you can use the following discount codes: 1. Code HF16BDAY20 will provide a 20% discount for SHA-256 contracts; 2. Code HF16ETHER12 will provide a 12% discount for ETHASH contracts; 3. Code HF16ETHER12HVC will provide a 16% discount for ETHASH contracts for single orders over 1000 USD. *The discount codes will be valid until April 30 or until discounted hashrate stocks last. As we have already stated, the Batch 2 of Ethereum cloud mining will be launched on April 11, 2016! Don’t forget to add your Ethereum wallet address to the system as you will need it on April 12 in order to withdraw your mined ETH funds! We would also like to announce that on April 8 you will have an opportunity to meet us in person on a conference in Vilnius, Lithuania, where we will be focused on Bitcoin, cryptocurrencies and blockchain in general. You can take stock of the information using the link. At the same time on April 8 you can meet with our partners and developers of a very advanced cryptocurrency EmerCoin in Moscow, Russia. For more information please visit. Besides that, we will contribute to another conference on May 19 in Prague, Czech Republic, where Vitali Pavlov, our specialist and HashFlare Project Manager will be speaking. You will be able to meet us and ask any questions you would like. The information regarding this event can be found on the official website here. Looking forward to meeting you there! Kindest Regards HashFlare.io. LETTER FROM HASHFLARE: Dear users, During the course of preparation for the launch of Ethereum mining, we ran a round of test payouts for Ethereum contracts. The test was successful but not everything went just as planned. As a result of a minor misconfiguration, some users received the daily ETH payout in BTC to their active balance in the system. The payout was cancelled and a recalculation was done. If you have made a withdrawal, your BTC balance may have gone negative. To reduce the amount of negative balances in the system, we also reversed reinvested and balance purchases for users who had a negative balance as a result of the recalculation. The good news is: Ethereum mining will commence on March 21, as promised. Thank you for staying with us! Best Regards.
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The block reward is 5 ETH. Ethereum Cloud Mining. An Ethereum mining profitability calculator can be used to determine a rough estimate of. Ethereum GPU Mining. Calculate Your Expected Profit with the Decred (DCR) Mining Calculator. Can easily compare your expected. That same GTX 970 GPU we get 0.476424 ETH. (this results are based on my R7 370s tests, but there is a new ethOS update and that will significantly increase the hashrate) In fact, according to statistics, Nvidia is generally less suited for Zcash mining than AMD. It is not yet confirmed whether Nvidia will make the effort to optimize their GPUs for Zcash mining. As for now, if you have Nvidia GPUs in your rig, you might want to switch to a different algorithm than Zcash. There is a tool that might help you to keep your rig mining for the most profitable coin. CryptoCompare offers a useful calculator for both Ethereum (ETH) and Zcash (ZEC). It also supports other coins such as Monero (XMR), Ethereum Classic (ETC), Litecoin (LTC) and DigitalCash (DASH). This calculator is easy to use, and you only should pay close attention to the hashrate you set for your GPU. Different GPUs have different hashrates for each of the algorithms, and it is crucial to set it as precisely as possible. The results of the comparison might be surprising. In fact, some miners report that they ended up rolling back to Ethereum Classic, since their GPU ended up giving more profit with Ethash than with anything else. Estimated Expected Cryptocurrency Earnings The estimated expected cryptocurrency earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected cryptocurrency earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected cryptocurrency earnings can vary greatly depending on your luck and stale/reject/orphan rate. Time Frame ETH Coins BTC (ETH/BTC at 0.10441600) USD (BTC at $11,762.30) Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00045611 0.00004763 $0.56 $0.06 $0.00 $0.50 Daily 0.01094663 0.00114300 $13.44 $1.44 $0.00 $12.00 Weekly 0.07662642 0.00800102 $94.11 $10.08 $0.00 $84.03 Monthly 0.32839894 0.03429010 $403.33 $43.20 $0.00 $360.13 Annually 3.99552050 0.41719627 $4,907.19 $525.60 $0.00 $4,381.59. Let us mine for you with our hardware in the cloud - Immediate results, mining updates every 60 seconds - Can own fractions of cloud instances, if desired - No heat or hardware to maintain - Choose payout in any displayed cryptocurrency - 5 year and 24 hour rental lengths available - No returns/exchanges - (Cloud SHA-256) SHA-256 algorithm, 1.0 GHS per 1.0 cloud instance owned - (Cloud SHA-256) Follows Bitcoin difficulty, which in the past has increased exponentially. This means payouts will likely be reduced over time, unless the price of Bitcoin rises to keep pace - (Cloud Scrypt) Scrypt algorithm, 1.0 MHS per 1.0 cloud instance owned - (Cloud Scrypt) Follows Litecoin difficulty, which in the past has increased exponentially. This means payouts will likely be reduced over time, unless the price of Litecoin rises to keep pace - For electricity and maintenance, we take a fee. Please on the fee. Cloud Mining Inventory SHA-256 5 Year Contracts Sold SHA-256 Available Total Supply Sold Out Ratio Fee 963 THS 4.0 8488 THS 4.0 113.2% 31% Cloud Mining Calculator Number of GHS 4.0 (SHA-256) Number of GHS 3.0 (SHA-256) Cryptocurrency Estimated Mining Payouts* $0 $0 Daily: 0.00000000 BTC Monthly: 0.00000000 BTC Examples for Cloud SHA-256 4.0 instance. *Cloud mining should be considered as a fun, recreational activity and not a source of income or investment. The above numbers reflect no difficulty increase. Dec 14, 2014 - 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. This highlights the main difference between the SHA-256 and Scrypt cryptocurrency mining algorithms. SHA-256 is the. My Wallet was Hacked! Coin Calculator; BTC. Investing involves risk, including possible loss of principal. In addition to the normal risks associated with investing and mining, cryptocurrency mining investments and related instruments may involve risk of capital loss from unfavorable fluctuation in cryptocurrency values, exchange-related risks, policy risks, liquidity, and market price fluctuation and demand. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase. There is no guarantee that any strategies discussed will be effective. The information provided is not intended to be a complete analysis of every material fact respecting any strategy. The examples presented do not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy. Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009 At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 to 100 times faster and consumed much less power per unit of work. During the winter of 2011, a new industry sprang up with custom equipment that pushed the performance standards even higher. The first wave of these specialty bitcoin mining devices were easy to use Bitcoin miners were based on field-programmable gate array (FPGA) processors and attached to computers using a convenient USB connection. FPGA miners used much less power than CPU's or GPU's and made concentrated mining farms possible for the first time. Today's modern and best bitcoin mining hardware Application-specific integrated circuit (ASIC) miners have taken over completely. These ASIC machines mine at unprecedented speeds while consuming much less power than FPGA or GPU mining rigs. Several reputable companies have established themselves with excellent products. Bitcoin Mining Hardware Comparison Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are. Avalon6 • 3.5 Th/s • 0.29 W/Gh • 9.5 pounds • No • $499.95 • • 0.1232 For a comprehensive comparison of bitcoin mining hardware. Best Bitcoin Mining Hardware Two major factors go into determining the best bitcoin mining hardware: (1) cost and (2) electricity efficiency. Bitcoin mining is difficult to do profitably but if you try then this is probably a good shot. ASIC Bitcoin Mining Hardware Application-specific integrated circuit chips (ASICs) are bitcoin mining hardware created solely to solve Bitcoin blocks. They have only minimal requirements for other normal computer applications. Consequently, ASIC Bitcoin mining systems can solve Bitcoin blocks much quicker and use less less electricity or power than older bitcoin mining hardware like CPUs, GPUs or FPGAs. As Bitcoin mining increases in popularity and the Bitcoin price rises so does the value of ASIC Bitcoin mining hardware. As more Bitcoin mining hardware is deployed to secure the Bitcoin network the Bitcoin difficulty rises. This makes it impossible to profitably compete without a Bitcoin ASIC system. Furthermore, Bitcoin ASIC technology keeps getting faster, more efficient and more productive so it keeps pushing the limits of what makes the best Bitcoin mining hardware. Some models of Bitcoin miners include Antminer S5, Antminer U3, ASICMiner BE Tube, ASICMiner BE Prisma, Avalon 2, Avalon 3, BTC Garden AM-V1 616 GH/s, VMC PLATINUM 6 MODULE, and. For those not interested in operating the actual hardware then they can purchase Bitcoin cloud mining contracts. Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more. Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200. Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out. NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months. MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s. What is this? The diff change is the rate at which the network difficulty is changing every month. Diff change is used for the estimated future profits graph and break-even analysis. Typically in crypto, network difficulty tends to increase over time, meaning a miner will generate less crypto with the same hardware. With cloud mining you can make money and earn cryptocurrencies without major investment or hassle from direct involvement with hardware or software because we keep everything extremely convenient so you start making money immediately on a daily basis. How much can you earn? Use our easy investment calculator. Accounting for this changing difficulty is essential to generate long term profitability predictions. How is this value calculated? The diff change value is calculated by looking at the current difficulty and comparing it to the 12 hour moving average of the difficulty one month ago. For smaller coins the diff change can sometimes be inaccurate due to a wildly fluctuating difficulty. Can I disable it? The diff change factor can be disabled by either manually setting it to 0 or clicking a 'Use Diff Change' switch found below the graph and in the break-even analysis section. What is this? The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup. How is this calculated? Time to break-even is calculated by comparing your hardware cost (which you must enter below) to your predicted monthly profits and seeing how long until the initial hardware cost is paid off. The calculator also takes the changing difficulty (diff change) into account. If the network difficulty is increasing quickly, this will greatly increase your break-even time. The diff change can be excluded from the calculation by toggling the 'Use Diff Change' switch. Why is my break-even time 0 or never? If your break-even time is 0 you have likely forgotten to input your hardware cost below. If it is never, your break-even time has been calculated to be greater than 10 years. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. You could try lowering the diff change for a less agressive prediction or disable it altogether. What is this? The profitability chart can help you visualize your long term mining projections. The chart can operate in one of three views: Total Profits The Total Profits view predicts what your overall profitability will be in the future. This is calculated by taking your current profits and adding them to each following months profits while factoring in the changing difficulty (diff change), the diff change factor can be disabled. This view assumes the price of the coin will stay the same. If you wish to account for a changing price (ie if you think the price will rise in the future), switch to the 'Coins Generated' view. Coins Generated This view looks at the number of coins you can expect to generate in the future. This view does not account for any expenses, it simply predicts how many coins you will generate with your given hashrate and the diff change value. A high diff change will cause you to generate fewer coins in the future. Total Costs This view sums your power and recurring costs. It can be used to predict the total cost to operate your mine over a given period of time. What is this? Price Change allows you to factor in the changing price of the currency into your projections. You can use this to generate accurate best-case and worst-case projections for your operation. Why does Price Change default to 0? It is impossible to predict what the price of any coin will be in the future, we leave the price predictions up to you. How does this value factor into the calculations? It depends on what Selling Profile is set to. For more details, click on the question mark beside the Selling Profile field found directly below Price Change. What is this? Selling Profile tells the calculator how to use the Price Change value. Price Change must be set to something other than 0 to have any effect on the profitability projections. Selling Profile has 4 different options: Sell Coins Monthly Profitability is calculated as if you were to sell all of your mined coins at the end of each month. Your profits will equal (money earned from selling) - (total expenses + hardware costs) Sell to Cover Expenses Only sell enough crypto to cover your monthly expenses. (electricity, rent, etc.) Your profits will equal (unsold crypto * predicted price) - (hardware costs) Sell a Portion Monthly Selecting this option will show the Sell Monthly field below, this is where you input what portion of crypto you would like to sell each month. For example, if you plan to sell 25% of your new crypto, enter 25 into the Sell Monthly field. Your profits will equal (money earned from selling) + (unsold crypto * predicted price) - (total expenses + hardware costs) Never Sell Coins Select this option if you plan on holding all of your crypto. Your profits will equal (all crypto mined * predicted price) - (total expenses + hardware costs). Estimated Expected Cryptocurrency Earnings The estimated expected cryptocurrency earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected cryptocurrency earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected cryptocurrency earnings can vary greatly depending on your luck and stale/reject/orphan rate. Time Frame ETH Coins BTC (ETH/BTC at 0.10473300) USD (BTC at $11,781.40) Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00045645 0.00004781 $0.56 $0.06 $0.00 $0.50 Daily 0.01095486 0.00114734 $13.52 $1.44 $0.00 $12.08 Weekly 0.07668401 0.00803135 $94.62 $10.08 $0.00 $84.54 Monthly 0.32864575 0.03442006 $405.52 $43.20 $0.00 $362.32 Annually 3.99852327 0.41877734 $4,933.78 $525.60 $0.00 $4,408.18. The Mining Algorithm And CPU Mining The Mining Algorithm What is commonly referred to as Bitcoin “mining” is really the creation of a new block in the block chain. Instead of making block creation a relatively simple operation, Satoshi realized that only a computationally expensive operation, performed as a kind of lottery, would prevent forgers from subverting the digital currency. But for a computationally expensive operation, which costs CPU power and thus electricity, some kind of reward would be necessary. Otherwise, only people with nefarious intent would participate in block creation. One of the most difficult problems in computer science is reversing a secure hash (finding an input text for a given output, the digital signature). Let me explain this problem in simple terms. Let’s assume the wealthy but terminally ill Alice wrote her will and stored it on her computer. Knowing that a computer can be hacked and the will can be altered, Alice digitally signed her will with the secure hash algorithm SHA-256. She then emailed the digital signature to all her friends, allowing them to check the validity of the document. Bob wants to hack into the computer and change Alice’s will so that he becomes the sole beneficiary, but he faces a problem: he needs to change the will in such a way that the widely distributed SHA-256 signature stays the same. Otherwise, everybody realizes that the will has been forged. Find out how to earn with Bitcoin mining and estimate your profit. Can I trust Bitcoin Cloud Mining services? Bitcoin Tools. Advanced Calculator. ⭐️ Buy How To Bitcoin Gpu Mining Calculator Zybe How To. Best Litecoin Cloud Mining - Best Cloud Mining - Bitcoin Mine. For Monero CPU and GPU Mining 2. A Radeon HD 7990 $600-$1200 Hybrid Gaming HTPC and Mini Bitcoin. Home > Bitcoin-mining Graphics Card Performance. Samsung NVMe 950 Pro vs. 850 Series; CPU. This is the computationally difficult problem of reversing or brute-forcing SHA-256, or finding an input that matches a predefined output. Satoshi famously decided that in order to find a new block, people all over the world need to compete in reversing SHA-256, turning block creation into a global lottery. But since this is a computationally intractable problem, Satoshi made it somewhat easier. You see, an exact match to the signature doesn’t need to be found, but merely a match that satisfies an inequality, or an inexact match. In other words, a signature that differs from the desired output signature by less than a given (and adjustable) number qualifies for the block reward. This number is adjusted downwards as mining difficulty increases, making the brute-forcing problem computationally harder and harder, thus maintaining the average block creation rate of one new block every 10 minutes. Controlling the 'money supply' by keeping the block creation rate steady prevents runaway inflation. Bitcoin Mining on a CPU Initially, Bitcoin miners simply ran Satoshi’s published code on their computers, adding more computers to gain an advantage over other miners. But when someone ported the mining algorithm to OpenCL (the C-like parallel language that allows graphics cards to act like a poor man’s supercomputer), the mining difficulty rose so much that mining on a CPU became obsolete. In other words, at that point, the cost of electricity for CPU-based mining vastly exceeded the Bitcoin revenue. Solo Mining vs. Mining on Mining Pools A solo miner participates in the block-searching lottery on his own, and goes empty most of the time. On the rare occasion when he does find a lock, he instantly gets 25 Bitcoins (plus a small transaction bonus). But solo mining makes sense only for massive mining operations, at, say, 50 GH/s and up. Most miners instead opt to participate in one of the dozens of mining pools (for instance deepbit.net or eligius.st), and thus benefit from a steady income in Bitcoins. Most, but not all, mining pools take a small percentage of the mining revenue to pay for server hosting and DDoS protection. I've only skimmed the article, but I didn't see a good discussion of mining pool, trading and all the DDoS, phishing and hacking that goes with it. The technical aspects and financial calculations are one thing, but going bitcoins is somewhat of a hornets' nest, and it's really worth discussing this stuff. I haven't mined seriously, but the first time I tried (for two weeks, generated half a bitcoin), I left the bitcoins in the pool and one of the pool's founders embezzled and took what was there and left. I've seen other pools hacked, and there are regular DDoS attacks on them, changes in the terms, all kinds of things you really need to follow carefully if you want to mine effectively. Just leaving your miner running and hoping that you'll get the expected coins eventually doesn't cut it. I currently mine a little LTC for fun (partly because after installing Catalyst 13.4 I can't mine BTC and can only mine LTC with an old cgminer version I have installed). I'm not sure that it's worth it financially, and I'll probably shut down mining in the not too far future. Estimated Expected Bitcoin Earnings The estimated expected Bitcoin earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected Bitcoin earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected Bitcoin earnings can vary greatly depending on your luck and stale/reject/orphan rate. CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. Zcash price in Indian rupee, Zcash mining, Zcash cloud mining. Bitcoin mining profit calculator. Users who use Bitcoin India™ wallet and trading. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. A simple and extremely accurate Bitcoin mining calculator with instructions on how to calculate. You may calculate your profitability with a Bitcoin price of. The Ethereum Mining Profitability Calculator is pretty. And also checks Nicehash for their current.How much can you earn bitcoin mining on nicehash 2017 - Duration: 3:19. I developed to calculate profit from the. Involved in the bitcoin scene and have a few. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. Vintage Utah Jazz Official NBA Licensed Product Purple. Bitcoin Mining in the Cloud: Mining for. 1 1/4ct Diamond Engagement Cushion Halo Wedding Ring. Before you read any more, please know that all investments involve different degrees of risk. You should be aware of your risk tolerance level and financial situations at all times. The following is my personal opinion, and you should research all and any investment before getting involved. I have people ask me all the time whether gemstones are a good investment. This is like asking if investing in the stock market is a good investment. The answer is of course yes, no and maybe. I am going to cover only Tanzanite in this guide, I do plan on doing an extensive guide on gemstone investing in the near future. Ok, so now the question becomes 'Is Tanzanite a good investment?' My personal opinion is yes. In 2007 the last mine that was available for mining by anyone except for Tanzanite One closed. Couple that with a Rising demand for Tanzanite and the fact that there is still a lot of room for the prices to rise and you have a 'perfect storm' What do I mean by the fact that there is a lot of room for the prices to rise? Tanzanite is currently the only one of the big four (Tanzanite, Emerald, Ruby and Sapphire) where you can get a top quality 5ct ring in a retail store for around $15,000 to $20,000 With emerald a 5ct top quality stone is about $1,000,000.00 a 5ct Ruby sold at auction in the fall of 2006 for $2.5 million dolllars, and a sapphire of similar quality is coming in at nearly the same money as the ruby. So when you can go out and buy top quality Tanzanite between $450 to $600ct wholesale depending on size. (Remember, when you are buying on eBay you are usually buying wholesale, whether from myself or others) That means that doubling or tripling of the value of Tanzanite over the next several years isn't unrealistic. Gemstones in general are also the most compact form of wealth available. If we say Top quality Tanzanite averages about $500ct that means that it is $2500 per gram and almost $77500 per ounce. Compare that to current gold, platinum or even rhodium and it makes them look cheap. You can easily put $1,000,000 of Tanzanite in your jacket pockets at a total weight of less than 1lb. Compare that to gold where you would have to have about 1000 ounces or 62 pounds and you start to get some idea of why having a portable commodity is a good thing. If you have any other questions about Tanzanite don't hesitate to email me, and again please remember to do your research before diving into any investment. Zcash Mining We're attempting to provide you with the best resources available to mine, the new crypto-sensation. You'll find here some resources on Zcash itself, the, the, a and finally some data on. Zcash being a new crypt-currency, it's the best time to start mining it. What is mining? Mining is the process by which new crypto-currency comes to life: people, like you, dedicate resources on their computers (or ) to run a program whose role is to analyze and validate the transactions done on this blockchain. To reward people contributing, the currency is designed to award those who help with tokens of the crypto-currency. With cloud mining you can make money and earn cryptocurrencies without major investment or hassle from direct involvement with hardware or software because we keep everything extremely convenient so you start making money immediately on a daily basis. How much can you earn? Use our easy investment calculator. Depending on the scale of your operation, and the costs of it running, there is a potential for profit. Zcash 1 Zcash = 0.040175 BTC 1 Zcash = 458.62 USD Hashrate: Sol/s. This mining calculator will display your expected earnings in both Ether and Dollars. The calculations are based on the assumption that all conditions (difficulty and. Find out what your expected ZEC and USD return is depending on your hash rate, power consumption and electricity cost. Find out if it's profitable to mine Zcash. Do you think you've got what it takes to join the tough world of cryptocurrency mining? CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. Interested in BitCoin and various cryptocurrencies? Start with NiceHash! Sell your hashing power and get paid in BitCoin (BTC), or buy hashing power to purchase crypto with BTC! Why use NiceHash to sell your hashing power? Hello fellow redditors. I am new to the topic and I have some questions. Please excuse me if they seem stupid, any answer and help would be greatly appreciated! I just can't understand how prices (for sellers) are determined. I do understand that they somehow peg it to the actual price of BTC. But they do also include supply and demand. So how exactly is the price determined? How does the variable hash speed (e.g. 1 GH) come into the game? Am I, is my selling price, completely exposed to supply and demand? They somewhere mention they guarantee you the same BTC earnings as if I would mine BTC directly. Who/How determines how much e.g. 1 GH is worth in BTC? Also I would like to know if renting hash speed is a thing people would do (and why?), especially in the future, and under the assumption mining/crypto currencies will hit the mainstream. (will they??) Do I have a certain guaranty my rigs operate at full capacity all the time/ have work to do? Is there anywhere data available showing supply and demand of hash speed? Are there predictions for the future? I know, a lot of questions. Once again, help would be greatly appreciated! Thanks a lot in advance. I hope you won't mind me answering it:) Other users can give their opinions on the matter too. I just can't understand how prices (for sellers) are determined. I do understand that they somehow peg it to the actual price of BTC. But they do also include supply and demand. So how exactly is the price determined? How does the variable hash speed (e.g. 1 GH) come into the game? NiceHash is a marketplace where one can buy or sell hashing power (i.e. Power for mining different cryptocurrencies). Prices for sellers are determined regarding the orders buyers place on the marketplace. Whenever there are more higher paying orders the price per day (profitability) increases and whenever there are more lower paying orders the profitability decreases. These prices are connected to the value of BTC on the market, but the most they depend on the global status of the cryptocurrencies (Ethereum, Zcash, Monero, Sia, Lbry.) that are mined with specific algorithm. There are several variables that affect their values. The hashing speed your GPU or CPU makes is determined with its computing power and it is fixed regarding the software you are using. The profitability is calculated by multiplying your hashing speed and the amount buyers are paying on the marketplace for a unit of hashing speed. So the more hashing speed you have, the more you get paid. Am I, is my selling price, completely exposed to supply and demand? They somewhere mention they guarantee you the same BTC earnings as if I would mine BTC directly. Who/How determines how much e.g. 1 GH is worth in BTC? First of all, the buyers are he ones that determine the prices - sellers and NiceHash cannot influence that. If you are using NiceHash Miner, then you are not mining bitcoins - you are mining different altocins, but get paid in bitcoins (because buyers paid in bitcoins for that hashing power). Only those that mine SHA256 are able to mine bitcoins - but even if they mine SHA256, that doesn't mean that they mine bitcoins, because there are several different coins that can be mined with SHA256. And these coins don't have the same value as bitcoin. Also I would like to know if renting hash speed is a thing people would do (and why?), especially in the future, and under the assumption mining/crypto currencies will hit the mainstream. (will they??) People rent hashing power because either they want to mine a coin and they don't have the hardware for doing it - so they buy hashing power and directed to the pool they want. Amongst buyers are a lot of times pool owners that want to test their pools or keep the pools full of miners so that they don't loose luck. There are also people that are good with investing and buy hashing power when they see a good opportunity to make a profit. We cannot know what will be in the future - but I can tell you that NiceHash is growing. Do I have a certain guaranty my rigs operate at full capacity all the time/ have work to do? If you are using NiceHash Miner, then there are several algorithms that can be mined. If there won'be anything to mine, there won't be any orders and there won't be NiceHash anymore. Now if you are using ASIC, you can set up a backup pool if the profitability falls under the threshold you have set. These are more advanced settings, but our support team can help you out on Is there anywhere data available showing supply and demand of hash speed? Are there predictions for the future? We have stats here: (I gave you the link to Equihash, but you can check for every algorithm we have on the marketplace). The most interesting stats (at least in my opinion) are those on profitability calculator: • • • •. Thank you a lot for your detailed response. I have got some follow up questions If u don't mind? So essentially I lend my hashing power. People want that hashing power to mine cryptocurrencies. People mine a certain cryptocurrency more for example because its price went up. They place their offers, if demand excels supply prices rise, I earn more. In addition to that I of course profit from rising BTC prices. This would mean I as a seller am (solely) dependent on that altcoins establish their position in the cryptocurrency market on the long term and that people want to mine them. Why would an individual with a gaming PC not mine for themselves? Why would they choose to buy hashing power? Is the difference between what they get out of their own GPU and what they get out of a small ($) amount of rented hashing power so significant? Why not upgrade that ol' gaming pc a little and have sufficient hashing power for an individuals purpose? Alternatively I also could imagine everybody jumping on the bandwagon and building rigs, ultimately leading to only having sellers on the market. Maybe I am also just bad at scaling lol. Amongst buyers are a lot of times pool owners that want to test their pools or keep the pools full of miners so that they don't loose luck. Could you elaborate a little on that? Thank you very much for your help! Generation of a particular coin is based on luck, as blocks have to be discovered by chance. The difficulty increases steadily, so an individual miner will join a 'pool' of other miners, and the reward for discovering a block is split among the members based on their hash power contribution. There is an 'ideal average' rate for blocks being found, so a conversion formula can be made to value the total hashing power required in BTC. Your choice on what to do depends on if you want just the regular income that NiceHash gives with its Pay Per Share model, you want to speculate on Bitcoin, or you want to speculate on some other currency. As an example, if you just mined Ethereum directly by joining a pool, you could keep any rewards from the mining pool for yourself in an Ethereum wallet and either exchange them for another currency or hold them. The wrinkle is that other people are speculating on Ethereum and are willing to pay a premium for hashing power from NiceHash. If you look at the front page of NiceHash, as I type this selling DaggerHashimoto hashing power is paying 20% more (in BTC) than ideal luck mining Ethereum directly with that same power. This percentage fluctuates minute-to-minute based on the value of BTC, ETH, and the buyer market made of people willing to pay that premium in the hopes that their resulting ETH will grow in value faster than BTC. Hope that helps. I'm really a noob to all this myself in the grand scheme of things. No problem at all! It is good that you have questions - I'm sure a lot of people are reading and wondering and it is good to have such topics as well. So essentially I lend my hashing power. People want that hashing power to mine cryptocurrencies. People mine a certain cryptocurrency more for example because its price went up. They place their offers, if demand excels supply prices rise, I earn more. In addition to that I of course profit from rising BTC prices. This would mean I as a seller am (solely) dependent on that altcoins establish their position in the cryptocurrency market on the long term and that people want to mine them. More or less, this is it, yes. Why would an individual with a gaming PC not mine for themselves? Why would they choose to buy hashing power? Is the difference between what they get out of their own GPU and what they get out of a small ($) amount of rented hashing power so significant? Why not upgrade that ol' gaming pc a little and have sufficient hashing power for an individuals purpose? If you have a good gaming PC, then of course this is the perfect time to utilize it (BTW, I shared a photo a few hours ago of top 5 GPUs that earns most on NiceHash: ) Now, there are a hundreds different coins out there that can be mined with different algorithms. If one sees an opportunity that he can buy hashing power and make profit out of situation on the marketplace, NiceHash is perfect for him, because he can buy massive hashing power and get it delivered in short amount of time. That's why buying hashing power is also different from regular cloud mining contracts - it is not a long term investment, but simply a marketplace. And it doesn't matter if you are a miner yourself - a lot of miners/sellers are also buyers on NiceHash:) One of the reasons why a person with gaming computer would buy hashing power is for mining algorithms that need special hardware for mining because mining with GPU and CPU is just too slow for them (for example SHA256). Alternatively I also could imagine everybody jumping on the bandwagon and building rigs, ultimately leading to only having sellers on the market. It could.But let's say that the number of orders or the prices on orders starts falling and there is a lot of sellers. If you would see that you can now buy hashing power for 0.1 BTC and mine Ethereum worth of 0.2 BTC (because the price has dropped since no one is buying), wouldn't you place the order? But eventually, some algorithm can become less popular and aren't mined a lot or at all anymore while others become more popular. It had happened before. It is a dynamic marketplace - it is constantly changing. That's why NiceHash Miner is great, because it will automatically switch to the most profitable algorithm for your hardware. Maybe I am also just bad at scaling lol. I don't think so - it is just new technology and new outlook on mining:) Amongst buyers are a lot of times pool owners that want to test their pools or keep the pools full of miners so that they don't loose luck. - Could you elaborate a little on that? There are different pools for mining coins and if you decide that you will open the pool for mining Ethereum, for example, you would need to test it before you can be sure that it works, right? It is the best to just buy hashing power, direct it to your pool and you can know how it works, what needs to be fixed etc. If you are interested in this, you can read more here: • • • • •. Hey, thanks a lot a again for your time and dedication, you help me a lot! Can I ask you some more? I don't quite get the thing where NiceHash says they choose the most profitable algorithm for my hardware. Now, I do understand that from a buyer's perspective but I do not from a seller's. I lend a service right? I do not care at all what algorithm my buyer mines with my power, so my understanding. Could you explain why multi-algorithm mining does matter from a seller's perspective? I also have read that in future many/most cryptocurrencies will swap to algorithms that require ASICs, as direct BTC mining does now. Wouldn't that make an investment in GPUs very risky? Well I do know that you work for NiceHash so I guess you won't answer that question very objective but I still give it a shot. Many thanks!:) • • • • •. Of course!:) I don't quite get the thing where NiceHash says they choose the most profitable algorithm for my hardware. Now, I do understand that from a buyer's perspective but I do not from a seller's. I lend a service right? I do not care at all what algorithm my buyer mines with my power, so my understanding. Could you explain why multi-algorithm mining does matter from a seller's perspective? 'NiceHash' is it a service - a marketplace - that allows buying and selling hashing power. 'NiceHash Miner' - a software developed by NiceHash - chooses the most profitable algorithm for sellers/miners. You can use other software as well - there are plenty miners available (another great one from NiceHash team is Excavator) and you can connect them to our stratum and use our service as a seller. But in that case, you select the algorithm - for example, you use miner for mining Zcash, but connect it to our servers and earn bitcoins. I also have read that in future many/most cryptocurrencies will swap to algorithms that require ASICs, as direct BTC mining does now. Wouldn't that make an investment in GPUs very risky? Well I do know that you work for NiceHash so I guess you won't answer that question very objective but I still give it a shot. We have ASIC miners and GPU miners and CPU miners - more than 100,000 of them all. It is an investment one makes for themselves - we don't offer suggestions, just data for people interested in to observe. 'NiceHash' is it a service - a marketplace - that allows buying and selling hashing power. 'NiceHash Miner' - a software developed by NiceHash - chooses the most profitable algorithm for sellers/miners. You can use other software as well - there are plenty miners available (another great one from NiceHash team is Excavator) and you can connect them to our stratum and use our service as a seller. But in that case, you select the algorithm - for example, you use miner for mining Zcash, but connect it to our servers and earn bitcoins. As I understood it, if I choose to use NiceHash service as a seller, I download the software, hit start and thats about it, correct? I don't have to tune any settings, chose algorithms or whatever. I just sell my hashing power and buyers choose what they want to mine with that power, correct? So what excactly does multi-algorithm mining do for a seller, where does he benefit from it? Is what you are trying to say that if I connect my rig to your 'main/standard software' called 'NiceHash Miner' my hashing power generally is available to buy for every algorithm (the seller wants to mine) and you direct it to the currently most profitable one, for both the miner itself because specific cryptocurrency is hot at the moment and for me because people want to mine specific cryptocurrency leading to higher prices for me. Why would one NOT use that software then? Doesn't directing everybody's hashing power to the currently most profitable, most demanded cryptocurrency lead to increased supply and therefore equalization? Sometimes I do think I'm dumb. As I understood it, if I choose to use NiceHash service as a seller, I download the software, hit start and thats about it, correct? I don't have to tune any settings, chose algorithms or whatever. I just sell my hashing power and buyers choose what they want to mine with that power, correct? So what excactly does multi-algorithm mining do for a seller, where does he benefit from it? You are talking about NiceHash Miner here. This is a software that allows just downloading and clicking the start. Other miners are more complicated to use:) Is what you are trying to say that if I connect my rig to your 'main/standard software' called 'NiceHash Miner' my hashing power generally is available to buy for every algorithm (the seller wants to mine) and you direct it to the currently most profitable one, for both the miner itself because specific cryptocurrency is hot at the moment and for me because people want to mine specific cryptocurrency leading to higher prices for me. I will simplify it a little bit. You want to use NiceHash service as a seller. You don't know how to use regular mining software and you see NiceHash Miner - GUI prepared for mining. You download it, enable algorithm that you are interested in (you can enable only one, but we recommend to leave all of them turned on, so that there is more choice). Then NiceHash Miner - the software - selects the algorithm on which your hardware earns the most. And it knows that because it knows the prices on the marketplace and it knows how much is your hardware capable to mine on each algorithm (because you have run the benchmark). The algorithm is always selected in your favor. If your hardware is making more on Zcash, but Ethereum is looks like the highest paying, it will select Zcash for you, because you wouldn't make as much on Ethereum as you could on Zcash. Not all hardware are good on all algorithms. Some solve some better than the others. Why would one NOT use that software then? Doesn't directing everybody's hashing power to the currently most profitable, most demanded cryptocurrency lead to increased supply and therefore equalization? I ask the same question:) But usually it is because they want to keep the token they are mining and are not interested solely in bitcoins (but they want Ethereum or Zcash or Lbry). But in that case they can also become buyers at NiceHash:) • • • • •. Great, I am understanding more and more of this new world:) Just to clarify, do you refer to a seller as a miner too? I thought the miners are those that buy hashing power and/or directly mine coins on their own. Because I as seller do only sell my hashing power and do not mine directly myself. I just get paid for selling my hashing power with bitcoin, no matter what cryptocurreny my buyer mines. I ask the same question:) But usually it is because they want to keep the token they are mining and are not interested solely in bitcoins (but they want Ethereum or Zcash or Lbry). But in that case they can also become buyers at NiceHash:) Because I dont get why they would reveive other tokens if sold over another software. It is the same principle right? Getting paid in bitcoin for your service no matter what coins the buyer mines. Is NiceHash Miner also a software to actively use my own hashing power to mine cryptocurrencies of my choice? Yes, the sellers are actually miners, because they do the mining. But the buyers can be called miners too, as they get the mined tokens. Miner is also a software used for mining and you can call miner a machine/hardware that does the mining:) It can be confusing - you must see in which context is used. Because I dont get why they would reveive other tokens if sold over another software. It is the same principle right? Getting paid in bitcoin for your service no matter what coins the buyer mines. This is only specialty of NiceHash. When you connect to other pools, you get the tokens this pool is mining. Is NiceHash Miner also a software to actively use my own hashing power to mine cryptocurrencies of my choice? No, at least not yet. NiceHash only pays in bitcoins, but we are talking about implementing other payout alternatives as well. Thanks for clarifying! Just one more thing and I think I am done, I promise.:) So other pools = cloud mining (??) specialize in a certain cryptocurrency. I can invest there, on a long-term and kind of bound basis though and mine a certain cryptocurrency there together with others. There also exist sellers in these other pools who sell/provide their hashing power so the investors in these pools can mine. Sellers in these pools get paid in the cryptocurrency that that pool mines. Do they kind of get a share of the amount mined from the buyers/investors? Or do the investors just have to pay in that currency? BONUS: Sometimes these pools buy hashing power from for example NiceHash because they want to boost their hashing power, correct? Where do buyers of hashing power at NiceHash mine? Do you redirect them to other pools? I mean they would bring their own hashing power and just participate instead of investing/buying power there. Do YOU pool them together? I am just trying to grasp the big picture. I am very grateful you help me on that way!:) • • • • •. |
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