NiceHash does NOT "Always mine the most valuable CC".

[VirtualLarry]

It's supposed to auto-switch, to whatever the most profitable coin is to mine.

But my experience is, my miners (on at least one machine), switch to whatever "crap coin", someone pays NiceHash to mine, and they direct my machine to mine it, even if it's making me FAR FAR LESS / day than what I was mining previously. When that crap coin amount has been mined, it switches back to something more profitable.

I just had some X11 mining, for $0.12 USD / day. Now I'm back, once that was mined, to DaggerH, for $3.81 USD / day.

I've also mined "Skunk", for literally pennies per day rate of payment, when I could have been (and was) mining Eth or whatever for dollars / day.

I really wonder, if the "big" hashing farms, get the "best jobs" from NiceHash, with the biggest payouts, and then the smaller miners like me, get the little crap coin orders.

 

[vailr]

Have you actually converted any crypto coins to USD yet?
Don't know if true, but: from what I was reading a few days ago, there needs to have accumulated ~$1,000 (equivalent in USD) to make any Nicehash.com crypto currency payout worthwhile, due to high transaction fees.
Another option is: betterhash.net.

 

[VirtualLarry]

High transaction fees? I don't know about that. I hashed about $130 worth since the beginning of Jan. on what NiceHash calls an "external wallet", and I finally got a payout of $120 to my wallet. Then, I tried sending to Coinbase, using the default transaction fee, and that seems to have stalled out for a while. (Before noon yesterday is when I transferred.)

Easiest is using NiceHash "internal wallet", on their site, then transfer to Coinbase (free!), then cash out in USD ($1.99 fee). I get maybe under $30 every two days that way. "Petty cash".

 

[momeNt]

Have you actually converted any crypto coins to USD yet?
Don't know if true, but: from what I was reading a few days ago, there needs to have accumulated ~$1,000 (equivalent in USD) to make any Nicehash.com crypto currency payout worthwhile, due to high transaction fees.
Another option is: betterhash.net.

Nicehash is hooked up directly to Coinbase - you can transfer to a Coinbase wallet instantly and free, from there, Coinbase is hooked up to GDAX - which you can then deposit into a wallet for free, or sell directly for USD for a lesser fee than Coinbase I believe.

 

[VirtualLarry]

I don't know if I have the chops for long-term CC investing. I have a general need for cash, just for daily living expenses. (For example, I'm going to use part of the mining for the last two days, when that hits my bank acct., for buying trash bags, I'm getting low.)

If I had a rainy day fund, or a nest egg, or whatever, then maybe I would consider investing in a smaller CC, in the hopes I might make 1000% ROI.

But right now, I'm just trying to make ROI on the couple of GPUs I bought this month, one with borrowed money that I want to pay back this month if possible. As long as Bitcoin holds above $10000, I think that I can. I really hope that it goes back up to $20000, that would really kick some butt.

 

[Red Storm]

Unless your electricity is super cheap or free, you're better off selling the GPUs for a hefty profit (very high demand right now) and using that money to cover funds you need, plus put a little into crypto investing. Find a company/coin that is legit, has good promising tech, and buy in what you are comfortable potentially losing. I invested in VEN only a few weeks ago and have already made thousands in profit. Yes, I could just as easily lose that money, but VEN/VeChain are going for the BaaS route (blockchain as a service), so they're not the same as a digital currency hopeful like Bitcoin or Litecoin.

 

[Sonikku]

Anyway I can go back to withdrawing my internet monies once a month? Seriously don't want to wait a year and a half... Government could kill this thing or there could be another hack by then.

 

[VirtualLarry]

Anyway I can go back to withdrawing my internet monies once a month?

Get an internal NiceHash wallet on their site? Switch to BetterHash (know nothing about them), learn how to more-or-less directly pool-mine altcoins?

 

[KIAman]

I uncheck all the not-profitable algorithms and manually check once a week to see if I need to make adjustments. Usually it is jumping between Lyra2rev, Nist5 and Equihash. I make anywhere from 6-12 per day on my gtx 1080.

 

[brianmanahan]

i wonder if it's better to use direct mining instead of nicehash. they are the ones that got hacked a month ago and 4700 BTC stolen... and their CTO was in prison for a few years because he ran a malware botnet.

 

[Red Squirrel]

I've been mining directly to Ethermine.org myself. Just getting started, made maybe like $40ish so far in theory (did not cash in yet). I have another GPU on the way and parts to build a proper dedicated rig.

I did not realize how long it takes to sync the blockchain though, so I still can't use my local wallet. I hope that the balance actually shows up once it's synced if not what I mined so far might be lost.

 

[Aikouka]

I think you're forgetting one important thing... NiceHash doesn't mine the most valuable currency for your setup. NiceHash mines the most valuable currency for your setup that someone has paid for. NiceHash sells hashing power and its users are the hashing power.