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Helpful ReplyConfused about mining and wallets? Nicehash.com is the easy answer

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Ranmacanada
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2017/06/20 20:30:56 (permalink)
So this might come across as an ad, if it does I am sorry.  Nicehash.com is a website where you sell the hashing power of your rig to other people, and you get paid in bitcoin.  Instead of dealing with all the wallets and confusing miner settings and stuff that can happen, as there are so many altcoins, nicehash has a nice little tool that will download the miners, benchmark your system, and then run the miners that your system is capable of.  You won't get paid in anything but bitcoin because nicehash sells your computers hashing power to other people.  This is basically the "dummies" way of making bitcoin.  You go to their website, if you don't have a bitcoin wallet, you can create an account and you will be given one (less fees and smaller payout option) and then you can use that address, or your own (larger payout required and more fees) in the nicehash miner software.  Download the software, configure it, let it benchmark your computer, and away you go.  They even have a profit calculator so you can roughly see how much money you will make per day/week/month. https://new.nicehash.com/profitability-calculator  You won't make as much as if you were doing the mining yourself, but it is a lot easier than having to switch miners every time something peaks, and having to have 10-15 different wallets and blockchains taking up space on your system.  You can always just use the bitcoins you earn to buy your favourite alt-coins on your favourite exchange :)  Go ETH!! and Litecoin is going pretty hard too!
 
I figure if we're here to toy around with crypto, might as well start with something basic, right?

 

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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/06/20 22:00:03 (permalink)
it is an interesting concept but something like this will only be used during boom markets and when things start to slow down no one will want to rent expensive 3rd party machines. in all honesty i think it would be better just doing it yourself and getting it all while the getting is good. else something like this will be very poor returns, if any, when the market turns, which it will at some point.


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Ranmacanada
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/06/21 06:45:19 (permalink)
Well they've been doing this since 2014, so I dunno.  It's still interesting, and gives you an easy way to do some mining.  As I said it's not as profitable as doing it yourself, but it means you don't have to manage a dozen or more wallets and currencies haha.

 

ASUS TUF GAMING X570-PLUS (WI-FI)
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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/06/30 10:20:14 (permalink)
Nicehash has spent quite a bit of time over the last YEAR as the "highest" or "second highest" profitability option for quite a few of the algos they support.
They're almost always close for any particular card, due to their automatic algo switching.
 
I don't like their new website where you can see what your rigs are doing, but that doesn't affect their underlying profitability.
They ARE a lot easier to manage than having to manually "chase the best profit", abet at usually a small hit to the "max theoretical profit" - especially for new crypto miners that don't really know what they're doing yet.
 
 They also have an option where you can just use whatever software you want to use and mine directly to their pools - which is the only way to use ASIC-based miners with their service.

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
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ipkha
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/06 07:57:07 (permalink)
I started using nicehash to boost my savings since I spent it all on 1080Tis.
Since I can't make heads or tails of the other options I chose nicehash. Stopping it at anytime for other tasks is a great benefit and not having to worry about nitty gritty details of setting up altcoin crunchers. I figure I'll ride this gravy train while it's still there. Eventually it will tail off naturally unless the alt coins add some value. The bitcoin are good price but the others like etherium might stop being profitable soon as the price isn't going up as fast.


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chap34
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/06 16:20:12 (permalink)
Has anyone tried to run FAH and Nicehash? or will my cards just explode? ;)

 
 

 
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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/06 16:29:18 (permalink)
If you do that i doubt you'll get good hash rates and probably starve your F@H work units. Though I would be interested in knowing the results.


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chap34
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/06 16:45:06 (permalink)
Well why not. I tried it. 
 
I was getting 1.5m PPD per 1080 ti before I started up Nicehash (my cards love it when the servers have issues, they are normally at 1-1.2m)
 
Nice hash alone running, I get about $10-$11/day total per the estimate on the software.
 
Nicehash plus folding:
$6/day
600,000 PPD/1080 ti and dropping - so I'm shutting off Nicehash...
 

 
 

 
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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/06 23:53:29 (permalink)
Trying to run cryptomining and folding on the same card is a bad deal - you get really bad performance out of both.
 
 

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/08 21:14:40 (permalink)
finally downloaded nicehash to see what kind of rates i would see... very disappointed. i would earn 1/5 that of folding, not to mention my GPU's would be doing mindless hashing instead of scientific research.


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Zeyan_
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/23 17:36:21 (permalink)
Ty
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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/29 16:48:04 (permalink)
chap34
Has anyone tried to run FAH and Nicehash? or will my cards just explode? ;)

 
 They won't explode, but your productivity on both will drop a TON.
 
 Nicehash CAN be configured to only use specific cards and your CPU, so if you have cards that aren't good folders in the same machine with one or more that IS, it is viable to run Nicehash on the poor folding cards and just fold on the good folding cards - and it will let you reduce the number of CPU threads used so you can keep as many available for Folding as you need while mining on the other CPU cores.
 

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/29 18:29:17 (permalink)
that comment makes me think of a system with two 1080ti's to fold on and using the 1x risers to AMD cards to nisehash on, getting the most bang for the buck  if you have spare PCI-e lanes just sitting around...


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dedricklund
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/31 20:40:55 (permalink)
Chris21010
finally downloaded nicehash to see what kind of rates i would see... very disappointed. i would earn 1/5 that of folding, not to mention my GPU's would be doing mindless hashing instead of scientific research.


Sorry to be completely ignorant of folding... have been mining just a couple weeks, but are you saying you get paid something at all for folding?

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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/07/31 21:07:11 (permalink)
i get paid CURE coin daily and FLDC monthly. i have earned over 2.5 btc in the last two months this way.
post edited by Chris21010 - 2017/07/31 21:08:43


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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/09 07:23:21 (permalink)
Chris21010
that comment makes me think of a system with two 1080ti's to fold on and using the 1x risers to AMD cards to nisehash on, getting the most bang for the buck  if you have spare PCI-e lanes just sitting around...

 
That would be viable, though don't HAVE to use NiceHash to do that.
 Lower stability though - the stability thing is one reason I'm in the process of moving all of my folding rigs to a FX-based platform instead of a AM2 platform, getting away from "mixed AMD/NVidia" and also moving folding to LINUX.
 My existing AM2 platforms work quite nicely as BOINC platforms under LINUX while running my AMD GPUs with the iGPU on my A10 APUs - just swapped out the MB/CPU on my "BigTrioRig" from a FX990 to an AM2 couple days back and it's now MOOing up a STORM.
 
 With recent changes out of my "rationalization" project, and a couple of new card aquisitions over the past month, I have achieved #1 in Moo - and should achieve consistant #1 on Dnet RC5-72 as a whole shortly - in time for y'all to challenge me in that MOO Sprint.
 
 8-)
 
 

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
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bcavnaugh
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/09 07:31:51 (permalink)
QuintLeo
 I have achieved #1 in Moo - and should achieve consistant #1 on Dnet RC5-72 as a whole shortly - in time for y'all to challenge me in that MOO Sprint.



So I take it you will not be Joining in our Team for the POTM Then?

Associate Code: 9E88QK5L7811G3H


 
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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/09 08:00:23 (permalink)
Afraid not, then I wouldn't be ... the competition!
 
 9-)
 
 

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
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chap34
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/13 15:05:23 (permalink)
Chris21010
finally downloaded nicehash to see what kind of rates i would see... very disappointed. i would earn 1/5 that of folding, not to mention my GPU's would be doing mindless hashing instead of scientific research.


Idk anymore, FLDC is taking a BEATDOWN

OTher coins have recovered some but FLDC just keeps falling....

 
 

 
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Ranmacanada
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/13 15:51:29 (permalink)
I agree FLDC is getting slaughtered right now.  It's worth almost half of what it was at the beginning of the month.  The fact that it's worth the same it was in fiat is pointless, as if you sold what you had at the beginning of the month that amount would be worth twice what it is now.  People are cashing out all their alt coins to join the bitcoin wave.  Even Curecoin is being hit hard.  It's stayed stable fiat wise, but it has tumbled hard in bitcoin.  Even ETH which at a high was at 0.14 bitcoin is currently only at 0.072 bitcoin.  Lots of cashouts happening right now.  It's going to be a bloodbath for a while until things get better.  Which they will turn around.  It just might take a month or 6? I don't have a crystal ball.
 
On a side note, ETH POS has been pushed back till 2018-2019.
 
Just remember, if people jump ship, you earn more FLDC and more Cure :P Let's all hope the casuals jump the "sinking" ship. 

 

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Fold for the CURE!
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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/13 16:01:02 (permalink)
CURE hasnt moved one bit sense the delisting fiasco, i am not counting the pump/dump a few weeks back. yea it did kinda go up to ~7000 for a while there but for the most part its stayed flat. FLDC on the other hand has seen a lot of people pull out for the rise of BTC. and honestly has just now started reaching the point where i thought they would be last month. FLDC was a fad among investors sense it pumped over 1,200% in a single day. that said if you look at its volume history its actually over due for a pump. so i bet once BTC starts to stall you'll see a FLDC pump shortly after.
 
in regards to nicehash even at current rates, nicehash rates too, its still multiple times more profitable to fold than hash. which is why you see the folding difficulty continue to climb at an astonishing rate regardless of how far FLDC falls.
post edited by Chris21010 - 2017/08/13 16:21:24


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Ranmacanada
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/13 19:37:30 (permalink)
Yes you whales are making it very difficult for anyone with a modest rig to make a decent profit :P haha.  Ah well it's all for the good of science really, and if we make a little on the side, I am all for it.

 

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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/13 20:44:50 (permalink)
the top 20 is still just under 50% of the total pool. been this way or lots worse for a very long time. 


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QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/16 13:03:07 (permalink)
Chris21010
 
in regards to nicehash even at current rates, nicehash rates too, its still multiple times more profitable to fold than hash.




 True for an efficient folding rig in general.
 Even with the drop in FLDC price vs BTC, FLDC is still more profitable than CURE - but it's getting a lot closer than it has been since the FLDC price explosion.
 
 Oddly enough, my Scrypt miners have been more profitable on Nicehash for the last week and some than on anything else.
 I'm guessing some folks are speculating on a future jump of one or more of the Scrypt-based coins and don't have a low electric cost to run their own miners since none of the Scrypt coins themselves are profitable enough to justify what folks are paying for Scrypt hash.
 Could also be long-standing orders that folks aren't paying close enough attention to....

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
#24
QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/16 13:04:34 (permalink)
Ranmacanada
Yes you whales are making it very difficult for anyone with a modest rig to make a decent profit :P haha.  Ah well it's all for the good of science really, and if we make a little on the side, I am all for it.




 Trust me, us "whales" aren't making tons either.
 The jump in Team Curecoin PPD the last few days has been scary even to ME.
 
 Up over 90,000,000 PPD in the last 6 days - which is more than anyone else's TOTAL production except you EVGA folks.
 
post edited by QuintLeo - 2017/08/16 13:05:39

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
#25
Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/16 16:22:42 (permalink)
it is also very surprising to me... FLDC drops over 65% in a month so lets increase our F@H output by 15% in the same time frame... no other coin on the market would see that kind of growth with such a HUGE hit to profitability. if we break over 1 Billion PPD before the years over without another spike to both CURE and FLDC i would start to get worried.


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Ranmacanada
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/16 21:53:29 (permalink)
My guess is certain folks are trying to ensure they stay on top.  If you notice, the battle for first place has gotten pretty hot.  And even at the discount rate for FLDC, someone is constantly buying it and is hoarding it.  Going to be a HUGE dump when prices increase.  

 

ASUS TUF GAMING X570-PLUS (WI-FI)
AMD Ryzen 2700
Fold for the CURE!
EVGA 1080 FTW
EVGA 1080Ti Hybrid

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Chris21010
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/16 22:57:44 (permalink)
i bought back in @280 and have it set to sell @380. i also bought into CURE @4900 before that spike this morning and that spike just hit my sell @7400. so i have bought back into it again @5200 and it hit my sell AGAIN @6850... if FLDC hits my sell i would have made some solid returns off the markets these last few days.


#28
QuintLeo
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/17 00:37:43 (permalink)
Keep in mind that
(1) CURE on a $ basis has been climbing the last couple weeks, since it's been pretty close to flat vs Bitcoin while Bitcoin has almost doubled in that timeframe.
(2) FLDC, despite it's drop vs Bitcoin, has been pretty close to flat on a $ basis over that timeframe.
(3) altcoins in general have been flat or dropping (especially the "good for NVidia ones") over that timeframe so nothing dragging folks OUT.
 
 

Now that vorsholk has stopped his abuse, I'm returning to folding.
 I no longer MOO due to abuses by certain "whales" in the Gridcoin community - so I now work the Distributed.net project directly again.
 
#29
species
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Re: Confused about mining and wallets? Nicehash.com is the easy answer 2017/08/18 06:19:14 (permalink)
Chris21010
i get paid CURE coin daily and FLDC monthly. i have earned over 2.5 btc in the last two months this way.




Can someone enlighten me a little bit? Confused about how you earn FLDC (not curecoin)... I know about folding, setups, etc, but I never dug into FLDC, recently watched videos and have been following the forums. My questions are...:
1. When you fold with a proper folding ID (with your bitcoin wallet address on your ID) you earn FLDC that is paid at the end of every month. At the time of payment is that FLDC exchanged to BTC and deposited in your BTC wallet --to the address on your ID? If so... are there any FLDC wallets at all? Does FLDC exists only as an exchange currency?
2. when you use Nicehash you are rewarded/paid based on the demand of AND payment acquired from the buyers (so the buyer pays, nicehash gets the commission and then you get paid)... Buyers pay what you earn. When you fold and earn FLDC where are the assets coming from? Briefly who pays what you earn?
3. On nicehash, A GTX 1070 seems to make around $2.0X nowadays (excluding electricity costs). How much would a GTX 1070 (@600+K ppd) earn if you fold to earn FLDC only? (again, totally disregarding curecoin here).
 
 



 
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