You can see now that we now have over 170 kSol/s available: NiceHash - Leading Cryptocurrency Platform for Mining and Trading
Now you can better understand the contracts. And yes, everything is live now.
I created a 24h contract on your plateform. It was cancelled arbitrarily by your system without any reason given. Contract #1803387. Why?
I have now had 5 contracts cancelled and lost 0.001 btc every time, not really very happy and not mined any zcash worth mentioning, i am leaving nicehash after only 5 hours of signing up.
Oh and I got less money back than I had paid: ~0.0071 missing, so more than 1% of the sum
2016-10-29 05:56:20 Refund order #1803387 0.62240544
2016-10-29 05:39:47 Fee order #1803387 -0.00010000
2016-10-29 05:39:47 Payment order #1803387 -0.62940000
Second trial cancelled after 5mn, and again 1%+ fee taken. Is this a joke? How can you call that a âcontractâ? Are you aware that a contract is something binding, not something you can cancel arbitrarily on a whim? If the contract is holding only when the market goes your direction, and cancelled otherwise, whatâs in it for us again? I really donât see any reason to keep using your service. So far itâs only cost me fees, and youâve cancelled everything you sold me.
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Only 0.0001 fee is taken, everything else is returned.
1% fee is for the pool. If there was no work done, nothing is taken. You can see your transactions under wallet.
We are having some issues with pool, therefore contracts may not work ideally. Working on it.
Iâm in exactly the same boat here. I have had over 10 contracts cancelled on me. No access to any of ZEC I earnt yet bitcoins have been taken. Just spent btc on nothing.
Well I gave you the breakdown: ~0.0071 are missing. Where are the remaining 0.007?
If contracts donât work, donât sell them. You are not doing yourself a service by giving your customers buggy services that donât work. Would be much better to have less features, but features that work.
Hi @NikiNiceHash - I have a question about the short term ZCash cloud mining contacts:
Iâve just finished a [24h, 200Sol, ~34$] contract with [0.03ZEC =~ $32] while a 52H/s contract I have in Genesis-Mining made 0.01ZEC.
I donât get it - comparing the two, your contract is x6 expensive, x4 the speed, but only x3 ZEC, making it gaining less than it costs.
Can you explain?
Thanks
Well, it takes up to 24 hours for all stats to normalise. So even when your contract ends, itâs still not over just yet - you can get some extra ZEC.
Contract prices are determined by the demand and are automatic. You can make more or less, also depends on the luck of the pool.
I just tested the same yesterday and bought a 24h contract with 750 Sol (0.75kSol). I will post all the details after the contract is finished. After about 10 hours is already clear, that the contract is highly unprofitable, even if I calculate with stable ZEC and BTC prices. More coming soonâŚ
@NikiNiceHash - Thanks for your reply, but I donât get the answer. It seems like the final stats in 24h will be only slightly different. Can you explain the essence of it? Whatâs the point of selling unprofitable contracts?
Thanks
Thanks. Please do. Cheers
Hint: now that price of hashing power for ZEC is declining, you can cancel your current contract and place a new one (cheaper).
On another side; when price of ZEC hashing power rises (usually when ZEC price rises), if you already have a contract, price of it would not change and you are âlockedâ in a very good deal.
Nicehash contracts arenât profitable. You will lose 50% of your capital selling straight to BTC.
Ok, contract endedâŚ
I paid: 0.177 BTC (1 ZEC = 1.2 BTC at paying time)
I got: 0.077 ZEC after 24hours (1 ZEC = 1 BTC at contract end)
To be fair, nicehash is not responsible for the 20% loss of the exchange rate. So I calculate with 1 ZEC = 1.2 BTC
â I paid: 0.177 BTC for the contract
â I got: 0.077 ZEC * 1.2 = 0.0924 BTC
So I lost 0.0846 BTC on that contract, what is nearly 50%!
There is absolutely no point to buy cloud mining contracts at nicehashâŚ
1 Like
We can mine zclassic too right ?
That was the good move in the last 24 hours.
Are you checking each shareâs validation?
Some miners reported that some shares from nicehash were rejected from pools by âlow difficulty shareâ.but charged anyway.
I also checked shares and their difficulty was really not matching the difficulty it should. In that case, nicehash shouldnât charge rental bill and punish that miner isnât it?
Of course we check all shares. What we found out is following; most pools donât follow specs regarding difficulty adjustments. The following is very important for all bitcoin related stratums (but also Zcash, has same rules); when pool sends new difficulty, it is applied to every next job. If you start enforcing new diff immediately, it is wrong thus we may send you low diff shares (if you set diff to higher) or we may not send you shares you expect (if you set diff to lower).
Change from kSol to MSol when buying Equihash hashing power
Equihash total hashing has been steadily increasing. At the same time the general buying prices for Equihash algorithm are lowering. Therefore we need to do adjustment from kSol to MSol for Equihash algorithm orders. Hashing power buyers will need to consider new paying scheme when placing orders. For example: placing order for price 0.0020 BTC/kSol/Day now will after change result into order for price 2.0000 BTC/MSol/Day. Also bottom limit is now 2 kSol/s, later it will be 0.01 MSol/s which is equal to 10 kSol/s.
Please note that this change has no affect on mining if you are a seller (provider/miner) of hashing power.
The switch to the new units will take place on February 22nd 2016 at 10:00 UTC.
More details available here: NiceHash - Leading Cryptocurrency Platform for Mining and Trading