Cryptocurrency Mining

Deadmanza said:
Profitability is looking like it did when I started this whole thing :O

Nice!
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Yep until etn token can easily be moved to sell then people might dump all there tokens. Currently it is very hard move paper wallet token to exchange to sell, i dont even know how to do it.
 
Ah, this explains why my profitability skyrocketed. I almost fell off my chair when I checked a few minutes ago!
 
^^So why aren't you guys sticking to cryptonight mining on a dedicated pool?
 
Sabre Wulf said:
^^So why aren't you guys sticking to cryptonight mining on a dedicated pool?
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Tried to mine Electroneum but the difficulty increased so much that I was hardly getting any shares, at least with NH you know you are getting something.
 
dj2381 said:
Tried to mine Electroneum but the difficulty increased so much that I was hardly getting any shares, at least with NH you know you are getting something.
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Hmm... and with NH you can't see what you're mining when it spikes?
 
Sabre Wulf said:
Not the algorithm, the coin... if mining that coin is profitable, then surely mining on a dedicated pool will yield the best results?

And if NH mines the most profitable coin at any one time, why is it handing out anything but cryptonight?

https://www.reddit.com/r/NiceHash/comments/6i0q5p/make_gpu_mine_a_specific_algorithm/
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NH doesn’t mine coins. It mines algos where buyers pay the miners. The buyer chooses the Pool and coin.

The official versions doesnt include cryptonight, hence people using version 2.x will mine whatever is included in the software and most profitable at any given time like neoscrypt or equihash, depending on hardware.

NH makes things easy if you just want to profit and earn btc. If you actually want to hodl a coin, sure,mine it directly.

There are ways to disable profit switching as well.
 
3lOH55A said:
NH doesn’t mine coins. It mines algos where buyers pay the miners. The buyer chooses the Pool and coin.

The official versions doesnt include cryptonight, hence people using version 2.x will mine whatever is included in the software and most profitable at any given time like neoscrypt or equihash, depending on hardware.

NH makes things easy if you just want to profit and earn btc. If you actually want to hodl a coin, sure,mine it directly.

There are ways to disable profit switching as well.
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OK, so if I'm understanding, the reason Cryptonight is in demand is because people are willing to cough up more for those offering to mine it... so why not dedicate your efforts to Cryptonight if that's where the market is?
 
Sabre Wulf said:
OK, so if I'm understanding, the reason Cryptonight is in demand is because people are willing to cough up more for those offering to mine it... so why not dedicate your efforts to Cryptonight if that's where the market is?
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Correct, someone wants to mine X coin so he will pay X to mine it. Buyers pay in btc, so the profitability purely depends on what buyers want to pay per GH per day and algo and has nothing to do with the actual value of the coin.

Buying hash power on nicehash works to a degree. I’ve played with it a few times. It’s a bidding war and you have to be on the ball.

If you’re just in it for the daily reward, Nh will work out better if not slightly more than mining the actual coin. Don’t forget, if you mine X coin you need to sell/trade it for btc. Trading fees apply. Then you most likely will move the btc to luno. Network fee applies which is high. In the end, you’ll probably end up with the same profit if not less by mining the actual coin.

Currently people buy hashing power for emporium or whatever it’s called. In my eyes just another ****coin. But hey, NH profits have gone up to almost double, so I’m not complaining.
 
3lOH55A said:
Currently people buy hashing power for emporium or whatever it’s called. In my eyes just another ****coin. But hey, NH profits have gone up to almost double, so I’m not complaining.
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It's the same thing with BTC right now. It's way behind many of the alts technically, yet the hype keeps it buoyant.
 
Do any of you guys perhaps now a site where one can see up an coming minable coins? I've check the usual places (cryptocompare, what to mine, etc). Am looking for more of a release schedule - wan't to get in there early xD

Thanks.
 
Sabre Wulf said:
It's the same thing with BTC right now. It's way behind many of the alts technically, yet the hype keeps it buoyant.
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Yea.

Buying hash power makes mostly sense if a new coin lifts off. You basically direct a lot of hashing power to a pool as the difficulty will be low at start. So you will gain a lot of coins, then sit on them, wait until it’s listed at a few exchanges so the price can rise.

I still don’t understand people buying hash power for established coins. It will probably work out the same if you would just actually buy the coin. Then again, I’m not an experienced NH trader. Somewhere it has to be profitable otherwise this model would’ve flopped already.

Wonder how much NH pulls a day on fees
 
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