Using NiceHash with Prohashing

Discuss issues with mining rigs and connectivity issues with experienced Prohashing miners.
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Mininghost990
Posts: 1
Joined: Fri Nov 29, 2019 4:56 pm

Using NiceHash with Prohashing

Post by Mininghost990 » Fri Nov 29, 2019 5:08 pm

Hi,
I'm new here and i've been monitoring Prohashing and Nicehash for a month and i decided to rent some hash power from NiceHash and point it to Prohashing pool to get some profit but first i would like to know if NiceHash is working well with Prohashing pool and i need to know the optimal password configuration for NiceHash to gain maximum profit during the rental duration.
Thanks in advance.
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Steve Sokolowski
Posts: 3827
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Using NiceHash with Prohashing

Post by Steve Sokolowski » Mon Dec 02, 2019 4:16 pm

Mininghost990 wrote:
Fri Nov 29, 2019 5:08 pm
Hi,
I'm new here and i've been monitoring Prohashing and Nicehash for a month and i decided to rent some hash power from NiceHash and point it to Prohashing pool to get some profit but first i would like to know if NiceHash is working well with Prohashing pool and i need to know the optimal password configuration for NiceHash to gain maximum profit during the rental duration.
Thanks in advance.
Thanks for joining!

Unfortunately, we don't provide personalized support for Nicehash. Nicehash does not prohibit their system from being used to conduct 51% attacks and does not take steps to ensure that all blocks their customers find are submitted to coin networks. They are an insolvent company that was hacked and has only paid back about 35% of the value of the coins that were stolen, but which claims they have paid back more. We strongly recommend that nobody do business with Nicehash.

If you want to use Nicehash to mine here, you are welcome to do so, and there are no rules against doing so. Our only limitation is that we have elected to focus our resources on support for direct miners, rather than investigating issues related to Nicehash configuration. If you encounter issues with Nicehash configuration, you'll have to work to resolve them on your own.
Marianomez
Posts: 1
Joined: Tue Dec 03, 2019 9:27 am

Re: Using NiceHash with Prohashing

Post by Marianomez » Wed Dec 04, 2019 8:40 am

Is there any way that Nicehash could prove to users that they were paid back more than 35% at this point?
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Steve Sokolowski
Posts: 3827
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Using NiceHash with Prohashing

Post by Steve Sokolowski » Wed Dec 04, 2019 10:19 am

Marianomez wrote:
Wed Dec 04, 2019 8:40 am
Is there any way that Nicehash could prove to users that they were paid back more than 35% at this point?
I'm just going by their own numbers.

They said they paid back 81% of what they owe to customers, but they are paying them the number of bitcoins that were stolen, not the actual value that was lost. There is a huge opportunity cost that was lost because some of their customers may have wanted to spend or exchange their bitcoins at the value on the day they were stolen ($19,800).

The largest number of bitcoins were paid back when bitcoins were worth around just $6000, so to calculate the actual value they repaid to customers, you need to cut what they claim to have paid to about 1/3 of what they say.

Imagine if someone crashed into your manually driven combustion car today, and that person says he will pay you back by giving you the same model of car five years from now. With the self-driving electric cars on the road then, your obsolete car would be worth very little. If the person at fault had given you a new car now, you could have driven it or sold it while it was still valuable.
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