Why NiceHash is bad for prohashing.

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Konov
Posts: 13
Joined: Mon Jun 12, 2017 1:29 pm

Why NiceHash is bad for prohashing.

Post by Konov » Sun Jul 02, 2017 4:28 pm

Hi.
Hash power from NH that bring renters is bad for all PH community. I'll explain, why:
If you will see on the stats, when there are LOW cost i.e. 7 cents (~0.000035) we are cranking blocks all alone, our speed is 500-600GHs. But, when there are high income time - 20++ cents(0.00008++) we got a company of NH renters and our speed is 900-1000GHs . This is no good for regular customers, because with more speed from NH we are cranking blocks faster, this thing leads to less block times on a high profit coin network, which leads to difficulty increase and less income.
So, why did these pool hoppers (they mine only high profit time) didn't banned here? When ph was little multipool, help from NH was acceptable. But novadays PH is big multipool. And help from NH is not acceptable anymore. The only thing NH bring to this multipool is Steve and Chris 5% fees. But in cost of this, this leads to less high income time to all other. And if look smarter, for Chris and Steve it is better to ban NH too: price difference betwean this site and NH site will be big enough for real miners to abandon NH and go to this pool.

This is example of what I mean:

BCC coin is 110% of litecoin income right now - 0.00003 (for example). We are mining it hard for 20 minutes at a speed of 500-600 GHs, found block, diff goes down, and NH renters did hopping to this pool: our speed is 1000 GHS, we finding blocks more quickly (1.5 times quickly), and this leads to 1.5 time less high profit for all real miners. After another 5 blocks, or 20 minutes, diff goes up, income go down. And we are allone once more: it is no profit for NH hoppers to mine slow high diff blocks.
GregoryGHarding
Posts: 665
Joined: Sun Apr 16, 2017 3:01 pm

Re: Why NiceHash is bad for prohashing.

Post by GregoryGHarding » Sun Jul 02, 2017 4:36 pm

ive never seen prohashing hit 1000gh/s on scrypt.
Konov
Posts: 13
Joined: Mon Jun 12, 2017 1:29 pm

Re: Why NiceHash is bad for prohashing.

Post by Konov » Sun Jul 02, 2017 4:43 pm

And quick note about "This is PPS pool, so doent matter" - PPS is paying you right now shares of RIGHT NOW income from coin. If you give more power, coin will last less time in good income. So, all suffer from it.
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FRISKIE
Posts: 121
Joined: Sun Apr 16, 2017 12:51 pm

Re: Why NiceHash is bad for prohashing.

Post by FRISKIE » Sun Jul 02, 2017 4:44 pm

Yawn
Konov
Posts: 13
Joined: Mon Jun 12, 2017 1:29 pm

Re: Why NiceHash is bad for prohashing.

Post by Konov » Sun Jul 02, 2017 4:45 pm

GregoryGHarding wrote:ive never seen prohashing hit 1000gh/s on scrypt.
Ok. 500 and 800. This sound more usual? ;)
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fattygrub
Posts: 15
Joined: Mon Jun 05, 2017 3:24 am

Re: Why NiceHash is bad for prohashing.

Post by fattygrub » Sun Jul 02, 2017 4:50 pm

RE: "The only thing NH bring to this multipool is Steve and Chris 5% fees. "

How can the brothers get "more" 5% fees if their miners get less income??????

The only way they make more money (assuming their fee stays static) is if their miners make more money.

I could be wrong here, except for the fact that I am definitely not wrong here.
Konov
Posts: 13
Joined: Mon Jun 12, 2017 1:29 pm

Re: Why NiceHash is bad for prohashing.

Post by Konov » Sun Jul 02, 2017 4:51 pm

of course, you are wrong: 5% fee from 500 GHs is less then 5% fee from 800 GHs. It is simple ;)
GregoryGHarding
Posts: 665
Joined: Sun Apr 16, 2017 3:01 pm

Re: Why NiceHash is bad for prohashing.

Post by GregoryGHarding » Sun Jul 02, 2017 4:53 pm

the fee is based on income not on hashrate
GregoryGHarding
Posts: 665
Joined: Sun Apr 16, 2017 3:01 pm

Re: Why NiceHash is bad for prohashing.

Post by GregoryGHarding » Sun Jul 02, 2017 4:55 pm

Konov wrote:And quick note about "This is PPS pool, so doent matter" - PPS is paying you right now shares of RIGHT NOW income from coin. If you give more power, coin will last less time in good income. So, all suffer from it.
we are more than a multipool we are a profit switching pool, meaning we dont mine one coin down to being worthless, the server switches out coins all the time for more profitable ones. you are simply misinformed.
JoeTheMiner
Posts: 65
Joined: Wed Nov 19, 2014 10:30 am

Re: Why NiceHash is bad for prohashing.

Post by JoeTheMiner » Sun Jul 02, 2017 4:57 pm

Banning NH doesn't make any sense. The NH renters will just mine the same coin on another pool and the profitability on PH will still go down no matter what pool they are on. Profitability is mainly a coin's difficulty and exchange rate so if another pool finds more blocks PH still goes down regardless.
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