[NiceHash] Zcash cloud mining rental: On demand & no contracts - you pick the pool, we provide the miners

NiceHash team has already introduced our mining software - see this topic in case you have missed it. But this is not all the goodies we have.

If you are a fan of cloud mining or rig renting you will love to know that we offer on-demand (and no need for contract) hashing power that will be available to rent for Zcash from day one. So if you don't have the equipment to mine or you are looking to invest into Zcash or even if you find long term mining contracts too risky, we are here to save you the troubles.

We are introducing you the NiceHash marketplace.

Buying hashing power on NiceHash is very similar to cloud mining, but has several important benefits:

  • you get hashing power delivered almost instantly upon placing an order (no need to wait for months or years to see if you'll mine anything or not)
  • you can order massive hashing power with our loyal user base that will be at least 50 kH/s or more available for mining Zcash
  • you can bid on the price you are willing to pay for mining Zcash or you can place a fixed order to stay worry and work free
  • there is no limit in supply - you can place an order whenever you want and when the miners will be ready, they will mine for you
  • you will pay only for valid shares and actual mining (if there are no miners available you won't loose money)
  • we are not a cloud mining company and don't own the hardware ourselves (miners connected to NiceHash will do the work for you and get paid from your order)
  • the minimum investment for placing an order is 0.01 BTC (which is less than $8) so you can test the waters

You can buy hashing power in four steps, first three are pretty trivial.

  1. You have to register new account.
  2. You need to deposit some Bitcoins to your NiceHash wallet (since minimum order is 0.01 BTC, you should have a balance of at least that value).
  3. You have to find the pool on which you would want to mine (and you can find many suggestions right on this forum). We suggest you save your favorite pools so you will have them ready when placing orders will be beneficial to you.
  4. Place the order (as explained in details below).

Equihash marketplace

Your starting point for placing the order is Equihash marketplace. Currently, there are only few live orders but enough to clear some things out. I have already told you about standard (bidding) and fixed orders. It's important to know that standard (bidding) order can last 14 days (even when you are not mining because there are no miners or if you have limited your mining speed) and fixed orders can last only 24 hours. When placing a fixed order you will definitely get the miners but for the fixed price. When placing a standard order you can always change the price you are willing to pay for mining and limit the mining speed even if the order is running.

Price

With price you determine how many BTC are you willing to spend on kH/day. Examining the price of other buyers will reveal what bid you have to place to compete with them. You can always outbid the highest bidder, but you can also swim in the middle. If you are placing a fixed order, the price is automatically determined. The price of standard orders can be changed at any time during the order.

Limit

With limit you can limit the amount of hashing speed (KH/s) you are willing to spend. The minimum limit is 0.01 kH/s. You can change the limit at any time during the order.

Payment

Lastly, you need to decide on the amount of BTC are you willing to spend on the whole order. You can always cancel the order and the amount you haven't already spent is safe in your NiceHash wallet. You can also edit the order, refill it, or check the detailed statistics of the order.

Placing the order

After you place all three values you will be able to see approximate duration of mining. You can easily increase it or decrease it by changing the value of the limit.

You only need to select your favorite pool and you are good to place your first order. Rented hashing power will be pointed to selected pool - it's like having your own farm, but cheaper and with no noise and everything you'll mine there is yours.

Feel free to ask us anything you want to know about buying hashing power on NiceHash.

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So what are the chances that there will be a working AMD GPU miner during launch?

Please refer to the Zogminer: Open Source GPU Miner thread. They're making steady progress towards an OpenCL (AMD) GPU miner. In fact they had a breakthrough just last night, so check that thread for the latest details.

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You can check our other topic (click here) to learn more about our progress on GPU miner.

This topic should be reserved for those that are interested in cloud mining, mining rental, and buying hashing power.

This doesn't explain at all the seller side. All we know about the seller side is that nheqminer has nicehash.com hardcoded as a stratum pool. What does that means? Are miners who use nheqminer selling their hashpower at "market" price regardless of whether the offers on the other side are reasonable?

For maximum profitability it is best advised to use our NiceHash Miner software. NiceHash Miner will auto-switch to the most profitable algorithm for sellers in the given moment.

Is it available at your website?
Secondly, Will it work with CPU or GPU?

Equihash is not yet integrated but we are working on it and hopefully it will be for both - CPU and GPU.

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Can you provide me with 100 h for 1 btc?

@ZcashSupporter @redembr That's impossible to predict since marketplace is still in testing mode. But soon you will know.

@NikiNiceHash : are the 24h contracts for sale on your website for testnet or mainnet? If for mainnet, when is the contract start time? Also the contracts are quoted in kSol so 0.5kSol means 500 Sol/s which is a lot of hashpower like 12 GPUs. Are you sure that your quotation is correct and that you didn't mean "0.5 Sol/s" instead? If the quotation is correct, how are you sure that you are going to have that much hashpower from launch? What happens when the hashpower available falls under what you owe to contracts holders?

Note: given you business model it would be better to sell contracts in Sols and not in Sols/s. It's equivalent since 1 day contract at 500 Sols/s equivs to 24*3600*500=43.2M Sols but it would allow you to execute it in slightly longer than 24h in the event where not enough hashpower is available. You could implement that with Fixed orders, and increase the order priority as the 24h deadline gets closer or lapses.

The contracts are still in testnet and the prices are not reliable nor real - but the speeds are. We currently have 25 kSol/s and it's only growing. The same or higher speed will be available on launch.

If the average speed is lower than ordered, we return your funds.

You should make it clear on the purchase page. Otherwise people are going to buy and hold you accountable to deliver the hashrate. At the price you are quoting it now, that would cost you dearly.

Oh and you haven't explained how you honor the contract when there isn't enough hashpower available?

Landing page is for display purposes only (we can't make it active until official Zcash launch) - so no one can buy any contracts from this page - check out here.

If there isn't enough hashpower available, you get your money (or what remained of it) back.

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That should be made more clear too. A contract is a contract, and people buying in are expecting the hashpower and zcash, not their money back.

How about the use of kSols instead of Sols? Do you actually mean kSol as in "1000 Sols"? Asking because suprnova.cc displays hashing power as kH when it really should be H or Sols.

If the speed is slower then you pay less for the rental. You are only paying per share.

Is the NiceHash market using mainnet now?