It's not that they're bad for this, just that they don't have the same $$/coins ratio. If 580s stocks were infinite you would be a fool to go with an NVIDIA card.
edit: I don't know if you should sell your GPU or if it's any good for mining. Compare your hashrate and price t*hey're selling for. Website like this one can help you with that.
What hardware is he planning on mining with, and what does electricity cost in your area? With that information, it's pretty simple to calculate payouts and whether it'd be worth it.
In most area's, the cost of the electricity to run the hardware, is exceeding the value gained from mining. So say you mined $100 worth of some coin, it might cost you $120 worth of electricity to do so.
Nicehash has a simple profitability calculator: https://www.nicehash.com/profitability-calculator
Your dad definitely won't be making $500 a month though unless he is buying multiple mining ASICs, general hardware just isn't going to hit that these days.
But for example, an RTX 2080 with an electricity cost of $0.12/KWh will generate a whole $1.88 a month profit on average.
Vega 64, would do $2.85 profit a month.
Say he spends a fairly conservative $500 on a Vega 64. At $2.85 a month, it would have to run continuously for 175.4 months, or about 14.6 YEARS, before it paid itself off. And that's just the GPU, not the rest of the system. It also doesn't take into account that mining gets progressively harder over time, reducing profit. In reality, the Vega 64 would likely only last a couple years, if that, before it started losing money.
A RX 580 will do 30MH/s at 150W overclocked and undervolted which is still profitable depending on power cost.
The massive farms buying up all the GPUs are located in countries and regions that pay less than 10c per kWh.
Also, use this calculator: https://www.nicehash.com/profitability-calculator#
It factors in many alt-coins. Plenty of miners aren't mining ETH and instead mining other more profitable coins.
Please upvote this guy. That page is nicehash*support*. It's fake.
Their real page (linked from: https://www.nicehash.com ) is: https://www.facebook.com/NiceHash/
see foryourself, goto their main page and click facebook link.
Please make CwazyStompers top comment.
Find it hard to believe you work as a pentester and don't know that finding security slip ups like this is so common that it's what keeps security people in business.
Looking at the archive of the Nicehash website they had no security section, no security contact, no bug bounty and no statement of audit - which suggests it has never been tested by an outside firm and is likely an app written by amateur developers who became complacent.
This isn't just common but a pretty big hint as to what sort of sites users should avoid - don't use anything that doesn't have even the basics of a security plan in place.
Because it doesn't make anywhere near that amount. 6, rx470's at todays price will earn you roughly $3.45 per day profit. Roughly $.0.57 per card.
This is absolutely delusional price. You would be far better off just buying the rx460 from amazon for $130 each.
They've definitely got a multiple gpu setup, I'd guess probably 12 or 15 1080tis based on Nicehash current profit amounts, unless they have a good electricity free setup like this post suggests.
download and find out. if you dont have a bitcoin wallet they have links to some or you can run in trial mode. they don't pay you in trial mode, but you can check what you would earn
I've been mining for about a week now. Here is my mining stats atm. I haven't had it full tilt all week though as I only started with 3 1080s and have since added another 1080 and 1 570 and 1 580. I've spent about $3500 total. At the rate its going, I'll have made back my original investment, and then should make a few thousand at the end of the next six months. That also doesn't factor in when I sell my video cards for at least 50% of what I paid. I've been looking into mining for a few months now and decided to pull the trigger because I had some extra cash I could invest. I'm going to continue to slowly build more machines as well. I'm sure you did tons of research though to come up with you "0,10$ a year profit" number.
I will point out that it is still profitable to mine, so it is unlikley that there will be a massive stock dump just yet. Especially of Nvidia cards, which were far better at other algorithms than DaggerHashimo.
Please see: WhatToMine and Nicehash
Don't see it
Can see it via API call though
Wait, why would you spend $3k on a rig with 2 cards? If you did any calculations whatsoever, you would've known that wouldn't have been profitable before even looking at anything.
I just put $3300 into a rig with 6 1070s ($600 for psu/cpu/risers/blahblahblah, $2700 for 6 1070s in a package deal) which when OCed and configured properly should push 180 mh/S.
Hell, I'm new at this and did some research before I put all the stuff together, but if you're putting together a rig with no mining power whatsoever made out of new parts, you're setting yourself up for disaster.
You need to know your potential profit before you even think of buying equipment. You put together a rig that has 1/3 the potential of the one I'm using but costs just as much, of course it'll take a ton of time to pay back.
Did you use NiceHash's calculator or the Ethereum Calculator before this to calculate things?
If you did, you would've seen that you average about $4.50 per day with each, and that works out to exactly what you said in your calculations, so that shouldn't be surprising....
Not trying to ridicule you here, just wondering what made you buy into something basic calculations should've said no to immediately.
This is a good place to check your profitability estimate. Internet speed/data caps don't really come into play. The only thing I would note is that if you manage your own cryptocurrency wallet (as you should) then the initial blockchain download can be substantial. Monero was 16+ gigabytes last I checked.
Let me correct you there. Fee for withdrawals from NiceHash wallet is 0.0005 BTC.
Please edit your title.
Our complex system is doing actual processing of hashing power and bigger hashing power also demands more servers and compute power and more costs for us.
Please understand that even the fee we have are on the edge, considering our total cost of running the service all over the globe.
That said we unfortunately can't lower the fee for you currently, but please stay tuned on Twitter @NiceHashMining where we will announce any changes that the upcoming new releases might bring.
And once again, thank you for using our service!
Everyone interested in this topic, please read this first: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works
Eth pools will have to decide if they will support EIP-1559. I believe the majority of them won't. In case they do, buyers of hash-power at NiceHash will decide to which pool will they forward the rented hash-power. You (as a miner at NiceHash) will still get paid by the buyers.
It is crucial to understand the flow of Bitcoin from buyers to miners through NiceHash. Pools are just receiving your shares and in the end buyer gets the reward from the pool.
It's basically only profitable to mine with GPU's. But if you're using free electricity and don't care about the wear and tear of equipment, then your CPU can net you a little over a dollar a day with your GPU getting a bit over $2/day. Personally, my 980s that I'm mining with, makes a little over what nicehash says it would make in income.
You can earn even more with nicehash: https://www.nicehash.com/?p=calc
In 30 days you can earn with a:
480 8gb= $139.48
Both of these are much higher than what you would get from the site you suggested.
The easiest way to start is to grab an RTX 3080 ($10/day) or RTX 2080ti ($5/day) and plug it into an existing gaming PC. Start with a single card, mine when your PC is idle, and try to make the money back that you paid for the card.
IMO this is a pretty "risk free" approach because even if BTC or ETH goes to $0 then at least you just ended up with a sick gaming PC that many would pay for anyways.
Honestly though, the biggest challenge will be finding an RTX at a reasonable price. The more marked up it is, the more risk and the longer the payback period.
Also, if you're paying for power and running it at home, check your bill and calculate how much you should expect to lose there. You can calculate profitability here - https://www.nicehash.com/profitability-calculator/nvidia-rtx-2080-ti
I looked into getting paid in Eth and found this.
"... In this article, we are going to explain why is NiceHash paying miners only in Bitcoin and why this will not change for the foreseeable future. ..."
Why is NiceHash paying miners only in Bitcoin?
This should not be an issue because there are conversions between the cryptos and their rates are constantly updating in realtime to reflect market movements. For example: If you have Bitcoin and use it to buy Dogecoin the underlying US Dollar value(or whatever your currency is) will not be affected. You'll still have the same dollar value just different quantities of each.
I recommend setting up a Coinbase and Coinbase Pro account. You can link your Coinbase account to your NiceHash account and transfer your BTC/cash/whatever out to Coinbase at no fee. Then from Coinbase you can do ACH pulls/pushes to get money to your personabl bank account. Just go into Wallet on NiceHash, click on Withdraw, then connect your coinbase account. You will need to setup 2-Factor-Authorization within NiceHash to be able to do this.
Small time miners should never use the internal wallet. Not now, not before the hack either.
The withdrawal fee is worse now, but it was already worse than an external wallet before.
I still have written in my old spreadsheet that I would have had to wait 7 months for the internal wallet for the fees to be in parity with an external one.
The internal wallet only made sense for buying hash power or large farms.
Nicehash exchange listed Monero today: https://www.nicehash.com/blog/post/monero-xmr-is-now-available-on-nicehash-exchange
Yes, I can provide a couple links if you'd like.
There is an easy way - NiceHash Miner and then a 'harder' way - Multipool Hub
I have tinkered with the Multipool option and it just wasn't working out for me, I wanted a nice set-and-forget option and that's why I settled with NiceHash, it is the one I'm going to recommend.
How it works - Your GPU gets used in a pool of other people's GPU's/CPU's. NiceHash tells you what to mine and as soon as you get 0.01 BTC you get a payout. For me, with my GPU, this is going to take until December 1st where I get a payout of $63.86 or 0.01111369 BTC. This is a projection, the USD could go up or down.
To get started, see if your GPU is even profitable using the calculator they provide.
If you are happy with your earnings, download the miner, benchmark, add a wallet, and go.
I don't use their wallet so they take a 4% fee from me. I'm ok with this but you should do what you think is best.
Let me know if you need any help, I'm still learning but this has been the best option for me so far. (I've been mining VTC and have some opinions about that).
Did you even read the linked post?
They did not say they would make a statement, they made a pretty clear statement.
> We only provide BTC wallet, therefore we cannot give you BCC.
There's your answer, you aren't getting BCC. They told you this before the fork, they reiterated it before the fork in a news post on their website that very clearly said you will NOT get any BCC for any BTC you have in your account.
Stop asking, the answer has been told to you multiple times. You aren't getting BCC because you left your coins on the NiceHash wallet.
Or rent your power on Nicehash for less, but slightly more user/newbie friendly.
Will likely get down voted, but honestly, if you have a new 3000 series card, it's stupidly profitable to mine right now. Even some older cards will do well.
They make about 15 BTC in fees (from miners) in less than a week and who knows how much more from buyers (which is their real cash cow) but they can only pay 2% to their "hacked" users. But fanboys keep defending them and making parties when they pay 0.0001 BTC to them. They even say they're so noble.
People are either naive or just plain stupid.
contrarily to previous market manipulation we had before, these are legit market order.
Previous market manipulation (Nist5, X11Gost, ...) : Short spike of order to makes seller switch to their order, then very quickly (less than the switching time) lowering the order amount to pay them less. the goal of the buyer is to lure the seller to a less profitable algorithm.
Present situation (not a market manipulation) (KNV7, Lyra2REv2) : Longer spike of the price of the order to makes seller switch to their order, but here the goal of the buyer is to profit from the difficulty adjustment of a particular coin while making you earn more (win win deal)****. the spike is longer than the switching time so the seller is really paying you for your job.
Zoom it in for 24h, you'll see that the order is long lived enough so the seller are really profiting from thos market orders.
Zoom it out to a week and you'll see that it happen on the difficulty adjustment of the Monero Coin.
TL;DR: this isn't a market manipulation because in this case seller are incensitivized to switch to a more profitable algorithm and are profiting from it VS what we had before with Nist of X11Gost were seller were lured to switch to less profitable algorithm.
Hope you understand and enjoy the short spike of profitability.
you are just bitter that those rates arn't sustained 24/7 (that'll be nice) but based on the strategy used by the buyer they couln't do this win-win scenario in a sustained way because of the difficulty adjustment.
You do not need an account if you do not use NiceHash wallet.
When you start NH Miner, you put in the address you wish to receive your funds to. After you start the mining, mined funds are stored under "unpaid balance" status until you reach 0.01 BTC (external wallet threshold balance) and after you reach it the payout is sent out automatically the first Friday that comes.
You can monitor your stats here: https://www.nicehash.com/?p=myminer (you will also see estimated payout date in regard to your current mining tempo).
More info: https://www.nicehash.com/help/when-and-how-do-you-get-paid
What is important to remember is, that your funds are linked to your address and not to the miner. If you change the address, you will start from 0 because the "new" wallet was not mined on yet, and your funds will stay on the "old" address.
If you put the same address in another NiceHash miner, the software won't know how much you have mined on previous machines, but all your unpaid balance will be aggregate into a single payment. But you can see your combined mined stats here: https://www.nicehash.com/miner
Also important to remember: You will only get paid to the external address you are mining to. If your address changes, you will still get paid to the old address, so ensure that your address stays valid even after the change. This is especially important for the wallet providers that change the receiving address often, so you need to be careful.
The software cannot detect address changes. Be aware that even if you update your software, your balance will not move from the old address to the new one, that's why you need to update your mining address in the software yourself.
Also, NiceHash cannot control your funds, so we cannot transfer the funds between your addresses.
It won't either. It's not supported. You will have to run something that does detect it, like sgminer or whatever and point it at the nicehash servers. Get the stratum info here:
Usb asic's are generally not profitable though.
Profitablity has been pretty stable for the last week.
Since you have free electricity, mining is a good investment for you. If profitability goes down further, people with higher power costs will start quitting, causing difficulty to go down, but you can keep mining.
It is if your electricity prices aren't crazy, even if you bump your A/C usage up a bit in most cases. The 1080ti can make a profit of about $6.47 a day right now according to nicehash (after deducting 60 cents for electricity). It's not crazy money, but that's a potential ~$190 profit a month.
Scrypt is long gone since it has ASIC's. You can find some profability info here if you want. http://www.coinwarz.com/cryptocurrency
Also this software is by nicehash, mines automatically selected most profitable cryptos and pays out in bitcoin: https://www.nicehash.com/?p=nhmintro
Edit: seems like you have a laptop, mining would fry it.
According to this article the C64 gets 0.3 hashes per second. According to Nicehash the 3080 hashes about 86 million per second:
It would take more than 286 million Commodore 64s to match a single 3080.
Oh boy. I mean you can definitely make money mining (anyone who says otherwise either doesn't know or is not willing to increase competition).
Anyway, mining is NOT easy i.e. you cannot just plug and play and expect profit.
You need to do a lot of research.
I guess this answers your 1st question.
Beyond this my answer would revolve around GPU mining (so alt coin mining and getting paid in BTC)
Q2 . Is a bit complicated and depends on your budget, but you need a mid to high end gaming PC.
Also the calculation will also be based on a single graphics card.
A simple example : a RTX 3070 costs roughly Rs 99,000 or $1340 .
As per Nicehash(NH) calculator you can expect to make $ 5 / day after electric cost.
So your ROI would be 1340 / 5 = 268 days .
Mind you I am ignoring other component costs.
When you mine with NH, the software mines the most profitable coin at that moment so you don't have to worry about figuring out which coin. However you could do your own research and jump a low demand coin and mine a bunch of it and hope for price to rise.
I think this much information is enough to get you started. Rest you should be doing your research and reading and watching YouTube videos.
And remember people have been saying mining is unprofitable since the beginning of Bitcoin and we all know how right they are.
I will not comment if this is a good idea or not. It is your choice. Think carefully.
People are not doing it because they might not know how to do it, they do not believe it or they do not have time for it.
Also, nobody knows what will happen in a year for example. Investing in mining is not a sure bet. But for sure it is safer because you can sell the GPUs and cover some of your expenses with it.
Have you looked at the difficulty chart? See if you can spot when the l3 shipments went out :)
Also, look at the NH payout graph for the l3+, set it to 30 days.
By the way, asic's are VERY reliable hashrates. What you're making is what everyone is making at that pool. The only reason you would make less is if your miner was generating less hash, and that's something you would notice.
According to this guide, you are doing very well.
I am mining on i5 9600k doing great, on the taskbar performance tab the CPU is at 100%. Now I have another setup with Ryzen 5 AMD 4650G and the CPU is max usage at 37%.
I also enabled Lock Pages in Memory / Windows 10. Here is the link how: https://www.nicehash.com/blog/post/how-to-optimize-cpu-mining-performance-for-monero-random-x
Any ideas how to tweak it more?
Is this 37% normal?
Thanks in advance.
GPU for sure.
Very low resell value for ASIC after a year or two, once the difficulty of Bitcoin goes up, you are left with a good paper weight :)
Joke aside, ASIC manufacturers mostly produce ASICs for big farms. It is way easier to maintain ASIC than a 6 GPU rig where you have many more points of failure compared to ASIC.
I bought an ASIC once. Never again. When I paid for it it should be making 30USD/day, after 2-3 months (time that it took to be shipped from China), it made only 3USD/day. Lost 0.4 BTC.
I recommend getting yourself a rig. Check the link below. We call that rig "Antkiller" internally :)
Sorry, I swear I read that you had a 1080 Ti, not a 1050Ti.
You're looking at about $0.51/day right now (before electricity costs).
Nobody is really making 3,4,5,6 bucks a day using a single GTX 1080. It is the current situation on the market and everybody is making that much in fiat. I would suggest you check whattomine.com in order to see how much your GPU should be making or our profitability calculator: https://www.nicehash.com/profitability-calculator
About $5 a day right now after power.
divide that number by half every month and thats at least how fast it is going down due to bitmain flooding the market with old s9's.
My advice 9 ( as a current bag holder of some s9's) Don't do it.
Wait until next gen hardware comes out. This is the last of the last days for current gen, thus the cheap prices on obsolete hardware.
If you're on a bout NiceHash, they've actually obtained a loan to pay everyone back, and are going non-profit until said loan is paid back.
I'm not going back to them, but at least they're trying to make it right. It'll be interesting to see if it was an inside job or not.
And that is just for Ethhash (Ethereum's hashing algorithm).
In one year you can get almost 2 ETH (~$300 right now).
Nice Hash will net you $55 a month right now.
Both are after power costs.
With Nice Hash you can choose from a list of coins what to get paid in. On top of that, the price for the coins are going up so the profits on the coins you have already mined go up too.
I've just started getting into it. I mine coin on my pc at about .0005 btc/day. At current valuations ($3610 = 1btc) thats about $1.81/day or $660/year. That's on a cheap graphics card. Top end cards make 3 to 5 times that. A card will generally pay for itself in 2 to 3 months.
A mining rig specially built for mining runs about $3000 and uses about 1kw. It will probably mine about 4btc per year, providing a roi of about 500%. Risks are mostly in card failure, as they are not intended to run 24/7 and burn out. Nvidia and AMD are rumoured to be bringing out a cheaper miner specific card in the near future.
I use Nicehash to sell my mining.
BTC at the moment is plagued with high transaction costs and times. These can run $10 for a simple deposit and take a day. Other coins, ether for example, have fewer problems.
ROI for my card according to their calculator is 103 days, so not too bad. Profit per day of $7.51, again according to their calculator.
For reference, here's the ROI and profit per day (using 10 cents/kWh) for the most popular AMD cards
RX 470 65 days, $3.61/day
RX 480 64 days, $4.13/day
RX 570 79 days, $3.55/day
RX 580 87 days, $3.12/day (4GB version)
RX 580 86 days, $3.69/day (8GB version)
This is all from this calculator, so I don't know how accurate it actually is. But it looks like lower entry cost, slightly faster ROI, but much lower profit/day afterwards. And naturally it'll be better if you pay less for electricity or get your card at a lower price than what they assume. But it says ~$8.11/day with my card before electric prices and I'm currently getting $8.28/day. Sometimes it goes as low as $7.10/day, sometimes as high as $11.20/day.
I think if I were doing just Ethereum an AMD card would be the better choice, but Nicehash's "hook" is that it benchmarks your card first, then when you start mining it changes what you're mining at any given time based on what's the best profit. It popped up to $8.45/day while typing the rest of this. Not great money, but my computer is idle most of the time anyways for Steam cards, so I can live with ~70 cents/day in increase electric cost.
You can add up the total hash-rate available on NiceHash here:
It's on column "Speed" on the right half of the page ("USA - WestHash").
To save you the trouble, I just did it now:
13.37 PetaHashes are available.
> If it's all Python, that it would be trivial to make it just use another miner if the server is requesting a PoW.
You can even outsource it, there are PoW resellers like nicehash. So this is stupid.
The only thing they can do to force people to use their hardware is to give each chip an unique private key a la smart card and make it sign every message.
As someone else said Doge is not available on Nicehash.
I also want to add Nicehash has a fee reduction the more you trade with them, Theoretically you can get a 0.01% fee, which is pretty nice.... But you have to of traded 100 Billion Euros first. https://www.nicehash.com/support/exchange/general/exchange-fees
all of them are good.
that's basically the only reason that they are also hard to find.
you can always double check with me or the mining calculator. you're looking usually for a breakeven of under 100 days and the hardware prices are pretty linear with mining value.
according to what i've heard around reddit/discord, it's about a 1/20 chance to get selected and the window to buy is like 2 hours if you're selected.
some of them are "bundles" and come with a motherboard or power supply. we might be able to use the component (best case) or just resell it. still totally worth it since the cards themselves go for 250% markup on ebay, etc.
We are aware of the issue and working on resolving it ASAP! No need to worry, your funds are safe and will be processed. Here is the official message: https://www.nicehash.com/blog/post/stuck-bitcoin-withdrawals-will-be-processed-today
Read through this and the other links on the site to further your understanding of hashrate & profitability.
There’s no good reason to mine directly to an external wallet and plenty of reasons not to. If you decide to, you won’t have access to stats, mining rig manager, and stuff like that. You also will still have to wait for the 0.001BTC minimum before being paid out, and those payments only go out every Wednesday. So if you happened to get to the minimum on a Thursday, you have to wait 6 days to be paid out. You also pay more NH fees (5% instead of the normal 2%)
To learn more about this you can check out https://www.nicehash.com/support/mining-help/earnings-and-payments/can-i-get-paid-to-an-external-wallet-address
I just withdraw to an external wallet as soon as I hit 0.001BTC. I keep trying during off-peak hours until I get fees down to 0.1% though.
Ich hatte vor ein paar Tagen mal geguckt. Mit den GPUs mined man wohl Ethereum.
Da gibt es dann ein paar Rechner* und selbst bei den DE Strompreisen, kommt man wohl mit einer 3080 bei ~$9 am Tag respektive $3200 im Jahr raus. (Gerechnet mit 320W RTX3080 und 30EuroCent KW/h)
Selbst meine gammelige 2080ti, die ich nach Ankündigung der 30er Serie als wirtschaftlichen Totalverlust schon abgeschrieben hatte, würde angeblich noch bei €0.30 Stromkosten $5 am Tag bringen.
Wenn dann der BTC steigt und somit die anderen Währungen, warum auch immer nachziehen, rechnet es sich dann noch mehr.
*Die Seite erweckt den Eindruck man würde da BTC minen, ich meine aber das stimmt nicht, lasse mich da aber gerne korrigieren.
Adoro andare in downvote, sono tutte persone che pensano di sapere qualcosa, e invece no. Come i sarcastici.
Guadagni annuali: 0.0002(btc/day)×365(g)×33'000(€/btc)=2409€
Spese annuali: 500(watt)÷1.000(conversione kw/h)×24(h)×365(giorni)×0,07 (€/kw)=306,6€+720€gpu
Totale +1400€ & una Gpu non male
Il prezzo dei bitcoin si è abbassato? Non quando facemmo i calcoli.
Troppi bitcoin al giorno? Ci sono video su yt e convertitori online.
500w è un consumo troppo basso! Se non sai ottimizzare non è il tuo campo.
La corrente costa di più! No, ho arrotondato per eccesso e mi rifiuto di calcolare l'upgrade di classe energetica o le spese di allaccio.
Si ma la 3080 non la compri a 700€! Adesso sai il perché.
Spero di imparare comunque qualcosa, roast me!
No offense, but everyone in this thread needs to do a whole lot of their own research. Everyone here is seeing dollar signs and not understanding the mechanics behind it.
Start here: https://www.nicehash.com/support/
NiceHash does not exchange ETH to BTC. Miners are paid in BTC and their hash-power is forwarded to eth pools by buyers. Please read this article for more information: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works
Use this calculator to get an estimate of what you'd be making.
For example, if you can find a used 1070ti for ~$500, you'll make ~$40 per month. It'll take more than a year to pay off the card and break even at that rate.
That's with 0 electricity cost and without accounting for the cost of the rest of the rig itself.
This will give you the profitability of the last 30 days for cards and CPUs never tested it versus my own actual earnings though.
I wish they didn't delete comments from noobs.
I suggest you start here: https://www.nicehash.com/help/what-is-nicehash-and-how-it-works
This will explain the idea behind a marketplace and also answer your question regarding what coins are you supporting. Ultimately, the buyer decides which coin you are supporting, you as a miner are only here to provide hash power.
There is nothing wrong with direct mining. If you are really passionate about the particular PoW project and you want to support it, then direct mining is a way to go. NiceHash, on the other hand, is the ideal solution for people who want to optimize their earnings without devoting too much time to do actual optimizations.
I highly recommend you go through our help resources. There is a ton of information and you will have a much better understanding of everything that we can offer.
> Please also note that we are periodically discarding balances, lower than 0.0001 BTC for miners that do not receive any new payment for 30 days, and balances lower than 0.001 BTC for miners that do not receive any new payment for 90 days. All balances from all algorithms are aggregated into a single payment.
There is no logical reason to be concerned. Bitmain flooded the market with ASICs. The hashrate explosion went hand in hand with the price explosion. But the entire crypto market has been correcting heavily for this entire year now. At current prices no sane miner would keep their rig running because it's wildly unprofitable to mine Dash right now. So the market does what it always does and finds equilibrium again. It would be concerning to not see that happen.
Here's a graph to be actually concerned about. If you wanna talk blockchain health, that's not what it looks like.
Ah, nvm, they've switched PoW algo. My bad. But even there you can see the hashrate going down along with the price after April. Market's gonna adjust, that's what it does.
Your margin, if any, greatly depend on your price/kWh.
If your electricity makes it too expensive to mine with a AntMiner S9, Along is producing a new Miner more efficient than the S9.
Also ASIC manufacturer could mine the next generation ASIC "for testing purpose" before releasing it to the public.
not that I recommend using NH pools to get BTC payement with SHA256, here is a profitability calculator for the S9:
With my cost of electricity, I would loose money mining with the S9. You can expect some hobby miner will fall of the network if the price of BTC continue to fall.
For a large operation, you also have to factor in rental, depreciation of the asset, salary to evaluate your margin.
If the BTC continue to fall, not only hobby miner will shutdown, but also medium operation that don't have the lowest electricity rate because they have to pay those bills and need to be consistently profitable to continue their operation.
Actually the fees wouldn’t be that bad. Nicehash doesn’t actually use clockchain wallets that you can easily see on the block chain explorer, and they do this to keep the transfer fees down as Buyer’s and sellers do a tremoendou amount of transfers. So assuming they have one (or a few) big wallets that disperses funds as needed, making a transfer to one account should be minimal in fees.
Check out the google cache for this page: https://www.nicehash.com/help/why-is-nicehash-wallet-not-in-sync-with-blockchain
You need an ASIC miner and cheap electricity. The only miners worth getting are $1000+ and ship from China and are hard to get a hold of. For the average person in the US without either free or industrial priced power, mining is not worth it.
However, if you are interested in mining still and have a reasonably powerful home computer, you might want to check out NiceHash. It's a very simple to use mining program that you can run on a home PC that connects to their online hashing market. You basically sell your computer's hashing power to help others mine altcoins like Etherium, Zcash, and that kind of thing and you get paid out in Bitcoin.
Few things to note. With NiceHash, you aren't actually mining coins yourself. You are selling your computational power to others in exchange for Bitcoin. In addition, you need a computer with a powerful modern GPU (Graphics Card). CPU's are just not good enough at mining to be worthwhile anymore. Also, before you get any wild ideas, mining on a laptop is NOT viable and will just result in vastly diminished battery life.
Here is an example of my 5 GPU (GTX 1070s) mining rig on NiceHash. If you end up just testing it out, feel free to mine to my address :D
>I'm paid in USD for hashing power rather than a consistent BTC amount.
You're paid in BTC. Not USD.
After you hit 0.01, immediately stop mining to an external wallet, and start using the NH wallet. I'm getting RSI from explaining this to everyone, so just read the fees and payment schedule and work it out. It's way cheaper for you to use the NH wallet.
This page shows you what each algorithm is paying.
When you ask about dollars, that's a different market entirely.
The NiceHash application does this for you, which is nice, but doesn't always teach you how to figure it out on your own.
If the fiat value of Bitcoin drops by half, the fiat value of your pay drops by half.
But if Bitcoin dropped, other coins all likely dropped.
There's a graph in a link on the sidebar that explains how all this works. Generally:
When alt coins go up, you get paid more BTC and thus more fiat. This is because with NiceHash you're almost always mining alt coins.
If alt coins stay the same and Bitcoin drops, you tend to get paid more BTC, but the same overall fiat value.
If alt coins stay the same and Bitcoin rises, you tend to get paid less BTC, but the same overall fiat value.
If alt coins drop, you tend to be paid less BTC and this less fiat.
Again, this works like this because you're mining alts, so the value of your work is determined by the value of those coins. As adoption changes, the way that BTC and fiat interact might change so this may not always be relevant.
It's an interesting question. For example, a single 1080ti is more expensive than 3+ 1050ti's, but it also will make you more in hashes. So it's about price/performance.
If you still intend to game 1x/week, or even just one session per month, that 1080ti will also be far better suited to that.
If your prime motivation is to earn, don't worry too much about what cards to get. Instead, familiarize yourself with what kind of returns different cards get you.
Since you're using NiceHash, check the calculator to see what cards are most profitable right now.
I'm a big fan of Vega cards for mining, and I'm also a fan of AMD as a company, so that's what I pick. Just inform yourself and make sure that you know why you're doing this ;)
I think it's a great hobby, welcome!
Sprinkle salt on the newbs below, your right Kingpenhuinz.
With 3ti's average earning potential, you would be looking at a External payout of once a week, or maybe once a fortnight.
I personally wouldn't want to leave any btc outside of my control for any longer or higher amount.
So for the External it would be 4% a week, And for the internal with a weekly withdraw it would be 5.33% a week.
This isn't rocket science guys, try and keep up, they even have a spreadsheet.
Most of your questions can be answered from taking a look at the FAQ:
In summary, when someone goes to nicehash.com to BUY hashpower, they are actually renting your GPU for a set time. This time is bought with BTC.
The buyer themselves pick the coin they want to mine. The job is sent to your GPU to mine until the job is done, then the next job and so fourth. You are paid with the BTC the buyers gave to nicehash for the service.
Thus, you are not mining the coin yourself, but rather for the buyer of the hashrate.
But they're hopping on the bandwagon without knowing what they are doing. They heard that Polaris card are great (they are) but they don't know how and why.
A 1070 has the same results than a 580 (actually bit higher) than a 580 8GB on Ethereum and much better results on other algorithms.
So it makes no sense to pay similar prices for those cards.
Sure a 570 at 200 and a 580 at 250 are great. But at 100 more? No, you buy a a 1070.
I've bought a 570 pulse for 172 euros ofcourse it's a beastly gpu, with bios modding I can make close to 7 USD per day with it. At 100 dollars more it makes much less sense.
You can browse through our profitability calculator: https://www.nicehash.com/?p=calc (if you would like to see top 5 GPUs, top 5 ASICs and top 5 CPUs, you can send me private message and I will show you our new website where this is shown).
Simplified is like this:
ASICs make more earnings, but are more expensive and spend more on electricity. They are also directed to mining only specific algorithms.
GPUs make less earnings, but are less expensive (depends in which range you are looking) and spend less on electricity. You can mine different algorithms with them.
Any mining hardware will work with NiceHash, but for mining with ASIC you won't be able to use NiceHash Miner software, but some other mining software. Like you suggested, you can find more info here: https://www.nicehash.com/?p=asic
You will then be able to connect to our stratum servers and earn and monitor your stats the same way as you do with GPU.
What bitcoin miner did you download? Whats happening is that you are wasting the energy and putting wear on the gpu or cpu you're trying to mine with. You'll need to earn 100000 Satoshi's just to cover withdrawing your money from a pool or sending it somewhere. If you mine BTC with a GPU you'll probably wear out the card before you reach that amount. If you want to mine with a GPU you have to use something other than SHA256 or Scrypt (both ASIC only now). X11, Qubit, NeoScrypt, and a bunch of others are used by coins you can mine and earn a lot more than you would with bitcoin. You can find a coin on that site i linked in my last post or you can rent out your hashing power using a cloud service like NiceHash
By the way just because its included in your rent doesn't mean electricity is "not an issue". A large power bill could upset your land lord, and even if it's okay with them, the amount of power you can pull from a home or apartment is still limited. You'll still want the most energy efficient machine since thats going to be the fastest anyway.
Nicehash has some pretty clear explanations on their support page to explain how it all works!
There’s no good reason to mine directly to an external wallet and plenty of reasons not to. If you decide to, you won’t have access to stats, mining rig manager, and stuff like that. You also will still have to wait for the 0.001BTC minimum before being paid out, and those payments only go out every Wednesday. So for example, if you happened to get to the minimum on a Thursday, you have to wait 6 days to be paid out. You also pay more NH fees (5% instead of the normal 2%)
I just withdraw to an external wallet as soon as I hit 0.001BTC.
These numbers are estimates and can vary wildly from one moment to the next.
Reading this should help you understand how profitability actually works. I would also suggest reading through the other links on the site.
I think you don't have enough virtual memory. Try rising it. There's a guide on Nicehash.
After we installed the 3rd 3090 in our rig FF was unable to start. Always crashed, even in safe mode. We gave it like 128GB of virtual memory and voila it wors like charm.
Hope this helps.
Hey check out the link from NiceHash on best setting for your GPU.
I think you're right on point !!!!!! Happy Mining!!!!
Yesterday was EXTREMELY high. Today is average.
Simple google search will explain the rest
Whether or not mining is profitable largely depends on the cost of electricity in your area.
1) check your area's electricity cost.
2) run that & your rig numbers through here https://www.nicehash.com/profitability-calculator
You can keep using hiveOS as an operating system and mine to the Nicehash pool if that's more profitable for you. I want BTC exclusively so that's what i do.
and on RX580s you should be bumping those clocks up and lowering the powerlimits
running them at stock speeds isn't wonderful.
Please read this https://www.nicehash.com/blog/post/nvidia-rtx-3000-series-overclocking-guide-to-increase-mining-profits
Please check this: https://www.nicehash.com/blog/post/what-is-the-difference-between-actual-and-local-profitability
We are working on improving the rejected shares on the daggerHashimoto algorithm.
Check the fees here: https://www.nicehash.com/support/general-help/nicehash-service/fees
(scroll way down)
The minimum trade amount is 35 euro.
don't look at payrates to see if you have an issue, look at HASHRATES, HASHRATES MATTER, it's the only way to ID if there is a problem, BTC Payrates these days are 1/10th of what they where at the peak in January 2018, that doesn't mean my GPU is performing at 1/10th what it was back then.
List your Algorithm and Hashrate, also go to https://www.nicehash.com/my/mining/stats and where it says "Showing stats for All Algorithms" click the "All Algorithms" and switch it between the different algo's and see if they are showing a bunch of rejected shares or not and report back what you find. Being 655 Satoshis is only like 26 cents something is definitely off, the question is whether your card is hashing slower then it should or are you getting a bunch of rejected shares.
"Please also note that we are periodically discarding balances, lower than 0.0001 BTC for miners that do not receive any new payment for 30 days, and balances lower than 0.001 BTC for miners that do not receive any new payment for 90 days. All balances from all algorithms are aggregated into a single payment."
You’re going to want to mine Monero with that CPU and a Vega64. But if you’re just getting started here is probably a good place to look and may answer some of your questions:
Good luck! Google is your friend.
Single GPU rig is inefficient and with such a high cost of electricity he’ll be in the red from day one.
Older GPU than the 10 series of Nvidia is definitely in the red.
If you want to GPU mine, do at least a 8 GPU rig to ventilate the 100W a efficient Motheboard+CPU+ram will consume across as many GOU you can afford. Use at least gold rated PSU at their maximum efficiency (see specification on what load % is the peak efficiency of the PSU, gold PSU efficiency is like 45% of load, platinum peak efficiency is higher but the PSU will be more expensive.
But seriously, plug the number of your electricity in this calculator and see for yourself how many days you’ll need to breakeven at today’s rate:
You’ll never breakeven. Don’t do it, you’ll be in competition with people paying less than 10 cents USD and you have 24 cents EUR. When they are not people with electricity included in their rent. And they are already complaining! You’ll get slaughtered
did you go here https://www.nicehash.com/asic-mining and configure the stratum based off the Equihash Algo and your nearest server location? If you are trying to use the Stratum for GPU mining that could be your issue.
Not Complaining Like Others Because it's FOOLS with ASIC's on Nicehash that will give Nicehash enough income to keep those reimbursement payments coming, but really dude if you have an ASIC you should be direct mining the coin of your choice.
NiceHash does not work on 32-bit version of Windows. https://www.nicehash.com/help/does-nicehash-miner-work-on-windows-xp-or-linux
Regarding the NVIDIA GT 610. NiceHash does not support that GPU. The miner supports desktop GPUs with CUDA Compute capability 5.0 and above. You can check your GPU version here: https://en.wikipedia.org/wiki/CUDA
If you wish to read more about the supported hardware, you can check this website:
Download the latest release of cpuminer-opt:
and run it as follows:
cpuminer-avx2.exe -a hodl -o stratum+tcp://hodl.[LOCATION].nicehash.com:3352 -u [YOURNICEHASHWALLET].[WORKERNAME] -p x -q
Where location is either EU or USA.
Here's some article about it too, although they are using hodlminer which for me gives only half a hashrate than cpuminer-opt does:
However, what you may see, are errors like: "stratum_recv_failed". That is due to lack of orders at the moment to mine at nicehash:
Because of these, I prefer cryptonight7, and I run hodl only on 1 core which isn't used on my machine by cryptonight7 miner.
I was before the breach, but now the external wallet withdrawals are held on hold until the transaction fees are back to "normal"
I don't weather and when I will get paid...
Your mining balance can drop to 0 in the following cases:
1. We are issuing payments and you qualify for a payment. Read more about the payment schedule. This process takes from several minutes up to several hours and during that time, a notification is displayed on the website.
2. You have changed the Bitcoin address, used for mining. We use Bitcoin addresses as an identification (link to you). Also be aware that we cannot transfer from one mining Bitcoin address to another. If you wish to change your address, we suggest you to mine until you reach the minimal balance for payout and then change your address.
3. If you are using an older unsupported version of NiceHash Miner. Make sure to always update your miner to the latest version which you can find here.
> I know it's more profitable short term to just buy bitcoins and rely on the value to climb.
Not just short term, but also in long term. History supports this conclusion and I am glad that you understand this already.
The simplest way would be to register an account with NiceHash, and use the wallet they generate for you. You can mine using their legacy miner. It benchmarks your hardware for various algorithms, and automagically switches when a particular algorithm becomes more profitable for your setup. You get paid in BTC, which keeps things simple for you, as you don't have to worry about setting up a new wallet for every coin you decide to mine yourself.
Once you have earned some BTC from NiceHash, you would want to transfer it to an exchange (if you want to trade it), or to your own wallet (if you want to just hold on to BTC) for long term safe keeping. I normally transfer my funds to bittrex, where I trade back and forth between VTC and BTC (occasionally BCC too).
If you want to just hold on to them, I would recommend not transferring out of NiceHash till you reach a minimum of .25 BTC, as this would minimise the transfer out fees to 0.2%.
If you want to go to the route of mining coins directly, you will have to do some research on which coin you want to mine, and then join the mining community for that coin. I would recommend learning about scams related to that particular coin first so you save yourself from common mistakes. Then find a reliable and large enough pool to start mining.
Let us know if you have any more questions.
Nicehash's website offers a calculator to see what your projected profits would be, calculated against whatever your expected energy costs are. Though you also have to consider the possible costs if something goes wrong in your graphics card (always buy EVGA!) and whether your Warrenty will cover it if at all. Moving parts like fans are the most susceptible as far as I gather.
Yes, you can check this benchmark list that rates several GPUs and CPUs. And generally graphic cards (GPUs) are better: http://monerobenchmarks.info/list.php
But if your computer doesn't melt, you can try doing both CPU and GPU at the same time.
I would highly recommend that you don't buy those.
Here's a profitability calculator from nice hash which should give you an idea what kind of returns you might be looking at.
Seriously though, that's a bad price for those cards, and with the very shaky future of mining ethereum I really wouldn't be building any AMD mining rigs right now.
I've got the FE as well. Use the command line version of the genoil miner, it should be included with Nicehash, at least it is with Nicehash legacy. It'll never run with the GUI, but I think it's included under the ethminer folder.
It's a modified version of it that can connect to Nicehash's ethpool and pay you out in Bitcoin.
Basically you're going to use these instructions:
You might have to play around with them a bit, not sure how well they work.
This is the best mining performance I've gotten out of my Vega, but it's still not great for the price, only around 30Mh/s. My r9 290 exceeds that while dual mining lol. I expect Vega performance will get better with newer drivers and miners.
Don't use the Nicehash gui with sgminer. For some reason, the website rates were pathetically slow despite nicehash showing decent rates.