Nice Rig, I mine also but my rig isn’t as nice as yours, so i won’t even show it off. I use it to support the ETC network. I love seeing people mining to support decentralization. keep it up.
The profits will be slightly different but you need to take into account your losses during transfering between coins.
These include the following for most
Lets say you are mining BTCP but want BTC so you can cash out as you state you are running a business and need to pay the bills.
Transfer fee of BTCP to Exchange
Trade fee of BTCP to BTC
Capital gains tax for the trade
Transfer fee of BTC to an exchange to cash out to FIAT
NiceHash is normally only a few cents behind mining the coin outright in profitability. Lastly NiceHash doesn’t determine where your hash power goes. The buyers of your hashpower determine what pools to mine at. Nicehash is just a nice connection point between buyer and sellers. Think of them as Craigslist lol also check out this post I did where I broke down some of these numbers.
yea that’s another reason I’m mining etc now too. low fees and I do use etc to pay for somethings. and the pool I’m in give back the mining fee after a 2 weeks. so compared to the btcp i was doing this is better for me. and with the bills i do have for the operation it makes what i trad or sell be for no gains or a loss. and I hold the rest. if I triad for btc then I’ve just got to record it for gains or losses. but for now I hodl that shit lol. I have a rental spot for my rigs so they are not all at home now. and im getting more equipment now to grow to a bigger level. and not that I say nicehash is not bad and I know I’m new to all of this still. I like to support the net works I think are good and do it my self lol. I’ve looked into nicehash but for me it just wasn’t interesting and there not the only ones doing that service. Now I’ve only been in 2 pools. so what do I know lol. but I do like the info you give ty
Who else do you know that is doing the same thing as NiceHash?
Miningpoolhub is completely different so if you are talking about algo switching that is a completely different thing than NiceHash from a core function and they also possibly bring in more taxable events.
mining rig rentals is like nicehash. and it to works on smos.
And im not a algo hopper lol. I just like to be controlling what i mine and like to support what I think are good projects. eth and etc I do like. and makes less heat that I have to deal with when out side is 90f. but I hodl what I mine right now except expense. but I like that etc lol. thats just me lol
I agree with you supporting the networks you like. Completely understand that and think it is great. I was just trying to understand what other programs are matching NiceHash’s model and just used the algo swapper as an example.
that makes sence. for sure.
got my second asic miner today set up and hashing away. the asic plus my 2 gpu rigs im at 1.2 Gh/s. woohoo lol!!!
Which ASIC miners are you running?
I got the bitmain e3 miner.