# nicehash has been down all day..



## trog100 (Dec 6, 2017)

its also lacking in any real information as to why.. 

anybody any ideas.. 

trog


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## RCoon (Dec 6, 2017)

Down for "maintenance".
Unscheduled maintenance... after they rather inconventiently lost 56 million euros worth of currency (unconfirmed). If you check a huge amount of their pools were emptied, and said 56 million was all sent to one wallet.

Stop mining for them now.


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## eidairaman1 (Dec 6, 2017)

RCoon said:


> Down for "maintenance".
> Unscheduled maintenance... after they rather inconventiently lost 56 million euros worth of currency (unconfirmed). If you check a huge amount of their pools were emptied, and said 56 million was all sent to one wallet.
> 
> Stop mining for them now.



Hacked or ripping y'all off.

1 reason why I won't do it


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## R-T-B (Dec 6, 2017)

This is why I liked eligius back when I mined...  They paid with the coinbase transaction, nothing to hack...

I hope you all were smart and withdrew often.  Web wallets are bad wallets.


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## trog100 (Dec 6, 2017)

RCoon said:


> Down for "maintenance".
> Unscheduled maintenance... after they rather inconventiently lost 56 million euros worth of currency (unconfirmed). If you check a huge amount of their pools were emptied, and said 56 million was all sent to one wallet.
> 
> Stop mining for them now.



i am more concerned with regards to  getting at my wallet.. their mining no longer works in fact nothing work apart from the down for maintenance message.. 

i am also a bit surprised at the lack of information.. you seem to have more than i do.. and have looked 

have they been hacked or is it just software problems.. i didnt know about the (unconfirmed) missing money..

trog


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## R-T-B (Dec 6, 2017)

trog100 said:


> i am more concerned with regards to  getting at my wallet.. their mining no longer works in fact nothing work apart from the down for maintenance message..
> 
> i am also a bit surprised at the lack of information.. you seem to have more than i do.. and have looked
> 
> ...



If he is right, sadly I doubt you will ever see your nicehash wallet again.

My condolences.

I'd like to take this oportunity to emphasize any web wallet can be hacked, and if it is big enough, likely will be.  Printing an offline paperwallet is easy, and you all should be doing it.


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## trog100 (Dec 6, 2017)

R-T-B said:


> This is why I liked eligius back when I mined...  They paid with the coinbase transaction, nothing to hack...
> 
> I hope you all were smart and withdrew often.  Web wallets are bad wallets.



i wasnt and didnt.. i was just about to move my stash onto a ledger blue hardware wallet i bought last week but had not gotten round to doing it.. one always knows there is a risk but tend to think it wont happen to you.. if it has i shall be a tad pissed off.. he he

the bottom line being i stand to lose a lot of money if nicehash is no more.. he he..

trog


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## R-T-B (Dec 6, 2017)

trog100 said:


> i wasnt and didnt.. i was just about to move my stash onto a ledger blue hardware wallet i bought last week..
> 
> the bottom line being i stand to lose a lot of money if nicehash is no more.. he he..
> 
> trog



There will probably be legal action / class action to fight over the scraps.  If this is what happened.  Usually big stakeholders get paid first in such things.  If so, keep informed on it and best of luck.

PS:  If any of you have large sums of bitcoin in vulnerable places and need security lessons, I am always happy to help with advice.


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## blobster21 (Dec 6, 2017)

somehow unrelated to nicehash but still on topic : i had an overall dissapointing experience with Kraken, last week they stopped honoring my orders to buy bitcoin when it was around $6600 and they remained dead silent for 5 days.

I was finally able to withdrew the €300 i injected in + a bonus of 20€, and called it a day. Forever.


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## R-T-B (Dec 6, 2017)

The only exchange I would trust is coinbase.


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## trog100 (Dec 6, 2017)

a link to some more info..

https://bitcointalk.org/index.php?topic=2535366.0

its still an unknown.. but it aint looking good..

call me the biggest twat under the sun if you like but i have just under $4K sat in my NH wallet.. he he..

trog


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## Papahyooie (Dec 6, 2017)

I think most of this is FUD... Looking at their twitter, they haven't indicated in any way that anything is wrong. If it were any other service that didn't have any financial impact, and saw the same message we wouldn't think a second thought about it. The fact that there is a possibility of losing money for some people simply makes us more quick to jump to conclusions. I'm not saying it ISN'T happening... It very well might have been hacked. We won't know until they let us know.

Most of the people saying they were hacked cite the fact that checking their nicehash wallets are empty... Except if my understanding is correct, those nicehash wallets are internal to Nicehash. Checking them on a site like Bitcoin explorer won't ever indicate those wallets have anything in them because they aren't "real" wallets. They're not on the blockchain. Nicehash has a single (or maybe multiple) huge wallets that actually ARE on the blockchain, that all the real money is in. Your nicehash wallet doesn't actually have bitcoin in it. It's just a database pointer to how much they owe you if/when you cash out or transfer out. The movement to a different wallet could indeed be a legitimate piece of maintenance.

Oh well... The only thing we can do is wait. Luckily I only had 100 bucks in mine... not a huge loss.

EDIT: and for all the people saying the owner took the money and run, why would he run off with 56 million when he stands to make hundreds of millions over time? Bad strategy, if he/they did so.


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## R-T-B (Dec 6, 2017)

Papahyooie said:


> We won't know until they let us know.



That's untrue.  All anyone has to do is link their wallets to let us know.  Nature of blockchain.

I don't know what they are, or I would check myself.

EDIT:  nvm, seems legit.  Trog, here is your money:

https://blockchain.info/address/1EnJHhq8Jq8vDuZA5ahVh6H4t6jh1mB4rq


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## Papahyooie (Dec 6, 2017)

R-T-B said:


> That's untrue.  All anyone has to do is link their wallets to let us know.  Nature of blockchain.
> 
> I don't know what they are, or I would check myself.
> 
> @RCoon


We already know that the coins have moved to a different wallet.  https://www.reddit.com/r/NiceHash/comments/7hxxp3/hicehash_hacked/

What I mean is, we won't know if they intended for that happen, or were hacked, or whatever, until they say.


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## R-T-B (Dec 6, 2017)

Papahyooie said:


> We already know that the coins have moved to a different wallet.  https://www.reddit.com/r/NiceHash/comments/7hxxp3/hicehash_hacked/
> 
> What I mean is, we won't know if they intended for that happen, or were hacked, or whatever, until they say.



It's highly unusual for them to do something like that in maintenence unless it's to defend against a detected breach, so it really doesn't look good either way.  But good point, we are not certain yet.


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## Papahyooie (Dec 6, 2017)

R-T-B said:


> It's highly unusual for them to do something like that in maintenence unless it's to defend against a detected breach, so it really doesn't look good either way.  But good point, we are not certain yet.


According to some on that reddit post, it has happened before. Haven't seen the reasoning, but some who claim to be long-time users say it is normal. Not to mention, their whole system has been plagued with issues the last few days, and they've been down for maintenance several times for several hours in the last week. I can't say for certain that the money isn't gone, of course. I'm just not so worried. Then again, as I said above, I don't have too much stake there (other than losing a nice easy way to mine, if they shut down.) 

What I DO know, is that most of the fear is based on the fact that people are checking their wallets on sites like Bitcoin Explorer, and they come back empty. The problem with that is, like I said above, those aren't real wallet addys anyway, and will never show anything when searched like that.


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## dozenfury (Dec 6, 2017)

I use NiceHash and generally they are great, but because we've seen bad things happen before with other sites I withdraw my earnings (from any mining site, not just NH) periodically to a safer store.  If NH went completely belly up I'd only be out maybe $100 or so which I can live with, even though it'd still be a crummy day.  I'm also a fairly small-scale miner though with only a few systems and I can see where that might not be as practical for the all-in guys with larger mining setups.


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## fullinfusion (Dec 6, 2017)

Hack hack hack cough

https://www.reddit.com/r/NiceHash/comments/7hxxp3/hicehash_hacked/


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## R-T-B (Dec 6, 2017)

fullinfusion said:


> Hack hack hack cough
> 
> https://www.reddit.com/r/NiceHash/comments/7hxxp3/hicehash_hacked/



A little slow to the punch man.



Papahyooie said:


> According to some on that reddit post, it has happened before. Haven't seen the reasoning, but some who claim to be long-time users say it is normal. Not to mention, their whole system has been plagued with issues the last few days, and they've been down for maintenance several times for several hours in the last week. I can't say for certain that the money isn't gone, of course. I'm just not so worried. Then again, as I said above, I don't have too much stake there (other than losing a nice easy way to mine, if they shut down.)
> 
> What I DO know, is that most of the fear is based on the fact that people are checking their wallets on sites like Bitcoin Explorer, and they come back empty. The problem with that is, like I said above, those aren't real wallet addys anyway, and will never show anything when searched like that.



All good points.  I will also fully admit my pool administration knowledge is highly dated...  so theres that.


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## trog100 (Dec 6, 2017)

i dont put much into the wallets showing zero i have seen that before when nicehash fails to log into the server properly.. 

i put more faith in nicehashes failure to communicate properly.. "maintenance and it might take longer than we thought" dont hold water.. something bad has happened and nicehash havnt got anything at all good to say otherwise they would have said it by now.. 

still i recon we will know more tomorrow.. nicehash  cant keep quite for ever.. 

trog


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## Papahyooie (Dec 6, 2017)

trog100 said:


> something bad has happened and nicehash havnt got anything at all good to say otherwise they would have said it by now..



See, that's what I'm saying... that's just spreading FUD. There is absolutely no logical chain of reasoning there. Yes, it's *possible* that they haven't said anything because something bad has happened. But the inverse is not true. The fact that they haven't said anything doesn't in any way prove that something bad has happened. You've created a false dichotomy, saying that if they had something good to say they would have said it by now. There is a third possibility... one that actually *is* supported by facts: They are under extended maintenance, and they did say something... they said they're under extended maintenance. 

No logical conclusion can be made at this time, other than to wait and see what their next comment on the matter is. Anything else is jumping to conclusions, and isn't based in any fact at all.


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## R-T-B (Dec 6, 2017)

It's true by logical methods we can't say with certainity whats up.  But it simply doesn't "smell good" so to speak.


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## trog100 (Dec 6, 2017)

R-T-B said:


> It's true by logical methods we can't say with certainity whats up.  But it simply doesn't "smell good" so to speak.



exactly.. no news is bad news in this case.. if they have good news they have nothing to gain by keeping quite about it.. in fact they have everything to lose..

you need to wise up papa.. and bear in mind i am a big loser here.. bad news dosnt suit me but its what i see.. it would be a far happier bunny if i saw something different..

anyways i am assuming nicehash is dead.. what do i put my miners to.. they aint much use sat there doing bugger all.. he he

trog

ps.. a bit more info.. nicehash say they are "talking to authorities about the issue".. no definites but it does back up 56 million being nicked theory.. err.. a crime has been committed.. 

https://www.wikitribune.com/story/2...tocurrency-site-nicehash-may-be-hacked/26595/


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## phill (Dec 6, 2017)

There's a few posts on their facebook page and apparently Twitter accounts but I've just copied this from one of the Facebook posts...

Three hours ago on Twitter: "Dear NiceHash users,
we are very sorry for the inconvenience caused. Our team is working hard to resolve the issues on the service, it might take longer than expected. We'll keep you updated!"


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## trog100 (Dec 6, 2017)

a tad out date phil.. read through the rest of this thread.. 

we think its been hacked and 60 million nicked.. including my 4K f-cking stash.. he he

trog


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## Papahyooie (Dec 6, 2017)

trog100 said:


> exactly.. no news is bad news in this case.. if they have good news they have nothing to gain by keeping quite about it.. in fact they have everything to lose..
> 
> you need to wise up papa.. and bear in mind i am a big loser here.. bad news dosnt suit me but its what i see.. it would be a far happier bunny if i saw something different..
> 
> ...



When you say "You need to wise up" what you're really saying is I need to adopt a pessimistic outlook and judge a situation purely on emotion without any facts. There isn't anything "wise" about that. Keep in mind, I am not saying that they didn't get hacked, or any other bad outcome. If I were saying definitively that that wasn't the case, I'd be naive. That would be a reason for me to "wise up." But I'm not saying that. All I'm saying is "We don't know yet." And anyone who claims otherwise is the one who needs to wise up. 

You may very well be right. And I don't deny that at all. But to claim you know, when no facts are known at this time, is foolish. 

As for wikitribune, I've not seen any statement from NiceHash that indicates that's true. So I'll file that under more FUD.


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## phill (Dec 6, 2017)

Apologises Trog just got in from work and just noticed the thread..  Whatever is going on, if it continues to stay down I'll just keep mining the ETC so I can get that paid out and then worry about the rest of it


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## R-T-B (Dec 6, 2017)

Papahyooie said:


> When you say "You need to wise up" what you're really saying is I need to adopt a pessimistic outlook and judge a situation purely on emotion without any facts.



But it isn't really a emotional judgement call when you consider the negative press that being silent creates and always has created in the crypto world.  There is absolutely no positive reason to remain silent if you have any news other than bad.

It's stood the test of time crypto wise:  If they're being silent, something is up.

Is it certain?  No.  But it's seldom wrong.


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## yotano211 (Dec 6, 2017)

Wow, I was going to start using nicehash. I got a nice shipment of 1080s yesterday, I cant really use those to mine ethereum.


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## dorsetknob (Dec 6, 2017)

*yotano211*
You Could Breed and Sell CryptoKitties  (New Craze)


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## R-T-B (Dec 6, 2017)

yotano211 said:


> Wow, I was going to start using nicehash. I got a nice shipment of 1080s yesterday, I cant really use those to mine ethereum.



minergate, or sign up for a zcash pool or similar and just manually exchange.


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## fullinfusion (Dec 6, 2017)

R-T-B said:


> A little slow to the punch man.


Posting here yes, knowing about it no.. I can't be staring at my cell all day waiting for new threads but was curious how long before someone actually posted it 

Remember I don't get my news here anymore..sorry, I mean rely on news here anymore..


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## trog100 (Dec 6, 2017)

this thread is pure speculation.. all we know is what hicehash has tweeted.. this is quite clearly a lie.. or not true.. fud or whatever else folks want to call it..

papa might say we dont know its a lie for sure but to me it is..

its big news or will be when it makes the mainstream so far what we know seems semi secret inside information..

and i do hope i aint 4K f-cking down.. he he

apart from that its all interesting stuff.. 

trog


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## yotano211 (Dec 6, 2017)

I think they might have been hacked in some way or another. They said they will work with authorities on this.


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## Papahyooie (Dec 6, 2017)

https://twitter.com/NiceHashMining/

NOW that facts are known, it's ok to cry. 

TL;DR: Trog is out 4k.

@Chino here's you a news lead.


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## yotano211 (Dec 6, 2017)

They where hacked, dammit I lost about .25 cents.


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## dozenfury (Dec 6, 2017)

Yep that's pretty much worst case scenario now that it's 100% confirmed by them in the press release.  For sure it's something that non-tech big news outlets will pickup on also with the hot topic that Bitcoin has been lately.


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## yotano211 (Dec 6, 2017)

R-T-B said:


> minergate, or sign up for a zcash pool or similar and just manually exchange.


Is minergate like nicehash, in that they will find the most profitable coin. 
I have never heard of them.


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## R-T-B (Dec 6, 2017)

yotano211 said:


> Is minergate like nicehash, in that they will find the most profitable coin.
> I have never heard of them.



I'm just regurgitating info from the crypto thread, but I think so yes.


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## Papahyooie (Dec 6, 2017)

yotano211 said:


> Is minergate like nicehash, in that they will find the most profitable coin.
> I have never heard of them.


Yes. It's a little different because you get paid in the coin you mined. It's basically automated pool mining. I'd recommend using the console, as the GUI gets slightly slower hashrate. I also don't do smart mining, simply because I don't want a bunch of random coins that I'll have to exchange. I'm mining zcash at the moment because it's still the most profitable. But if you do it that way, you have to do your own legwork to determine what to mine on any given day. Zcash is a safe bet at the moment though.


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## yotano211 (Dec 6, 2017)

Papahyooie said:


> Yes. It's a little different because you get paid in the coin you mined. It's basically automated pool mining. I'd recommend using the console, as the GUI gets slightly slower hashrate. I also don't do smart mining, simply because I don't want a bunch of random coins that I'll have to exchange. I'm mining zcash at the moment because it's still the most profitable. But if you do it that way, you have to do your own legwork to determine what to mine on any given day. Zcash is a safe bet at the moment though.


I will have to get some new wallet address for some coins that I mine. I have lots of new 1080s, I think those are the best for zcash.


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## trog100 (Dec 6, 2017)

"Dear NiceHash users!

Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours.

Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken.

Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.

We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.

We would not exist without our devoted buyers and miners all around the globe. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service. We will endeavour to update you at regular intervals.

While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords.

We are truly sorry for any inconvenience that this may have caused and are committing every resource towards solving this issue as soon as possible."

trog


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## hat (Dec 6, 2017)

I had around $130 worth of btc due to be paid to my coinbase acct this Friday... That's probably gone too :\


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## phill (Dec 7, 2017)

Same here Hat, luckly that wasn't all of it for us...


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## R-T-B (Dec 7, 2017)

I'm going to be posting a guide on safe/easy bitcoin coin management and storage soon.  Today or tomorrow.  Should be handy for novices.


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## trog100 (Dec 7, 2017)

i need a guide on alternatives to nicehash.. 

i havnt a clue what this minergate thing is doing or where its putting what its mining.. just my desktop two 1070 card machine running this.. mining ether..

what is PPLNS as a method of payment.. ??

the GPUs are working so i assume its doing something..

i need to start to get some of my 4K loss back.. he he..








trog


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## TheoneandonlyMrK (Dec 7, 2017)

Swapped to minergate , I use coinbase for short holding ill be investing in a paper wallet though

Im new ish to minergate too but it's not bad at picking algos ,run the bench then automine picks best payer , xrm monero apparently for everything I've been trying.

Dunno about this ,but i do know that you Need to set the intensity of mining per card  4 is max default seams to be 2.


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## Papahyooie (Dec 7, 2017)

trog100 said:


> i need a guide on alternatives to nicehash..
> 
> i havnt a clue what this minergate thing is doing or where its putting what its mining.. just my desktop two 1070 card machine running this.. mining ether..
> 
> ...



Open your account on the web page (should be a link to it under menu) and you will see the more granular stats like nicehash has. It's not nearly as instant as nicehash though, so give it some time. You are mining ETH with the MinerGate pool (you can actually use a pool of your choosing if you use the console.) And you will get paid in ETH (not bitcoin like nicehash, so you'll have to trade if you want BTC) when the pool finishes the block and it's verified. PPLNS is "Pay Per Last Nth Shares." I'm not 100% sure of the technicalities behind it, but the effect is sometimes you'll get paid a little more, sometimes a little less. MinerGate recommends this, as on average it pays 5% more. The alternative is PPS which is "Pay Per Share" and you'll get paid the exact worth of your shares. As I said, not much detail behind why (not that I know, anyway) but PPLNS works fine. Something to do with the pool as a whole, as opposed to your solo mining capabilities.

So this isn't exactly like nicehash, because with that you're getting paid in BTC by people who rent mining time. With MinerGate, it's basically automated pool mining. Same as if you joined a pool and manually mined ether, but easier to set up. They do charge a slightly higher fee than most pools for the courtesy. Of course you'd make more setting it up manually and joining a pool, but MinerGate makes it easy for the "push button, get money" crowd, just like Nicehash.

EDIT: Just remember to send your coins to cold storage on a regular basis... MinerGate is just as susceptible as NiceHash to bad stuff...


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## flmatter (Dec 7, 2017)

Thanks @dorsetknob   I was going to do mention the cryptokitties thing too     beat me to it by a long shot

need to find my old log on for coin and see where I am at.


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## R-T-B (Dec 7, 2017)

trog100 said:


> i need a guide on alternatives to nicehash..
> 
> i havnt a clue what this minergate thing is doing or where its putting what its mining.. just my desktop two 1070 card machine running this.. mining ether..
> 
> ...



Some advice for changing all this to btc:  a good crypto exchange is shapeshift.io


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## hat (Dec 7, 2017)

So you could use minergate to deposit into a shape shift.io wallet and go from there? Considering some form of wallet other than an online wallet. Probably not a good idea to keep everything on coinbase either (which is where my nicehash payments were going).

Looking forward to your guide RTB. I hope you'll include something about different types of offline wallets, including those hardware wallets and... Paper (how the shit does that work)


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## R-T-B (Dec 7, 2017)

I'm surprisingly out of date with regards to hardware wallets, but good ol' paper is easy, secure, and will be covered.

shapeshift.io is not a wallet, just exchanges one currency for another with a reusable address.  Coinbase is actually a reasonably secure option as far as far as web wallets go.  Just use it until I post the guide.


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## trog100 (Dec 7, 2017)

my minergate progress or lack of it.. my two 1070 card desktop rig.. mining for maybe 10 hours.. both cards are working hard and looking like they should do..

it only seems to have produced a bout 1/10 of one dollar in this time.. or am i reading things wrong. ??













trog



R-T-B said:


> I'm surprisingly out of date with regards to hardware wallets, but good ol' paper is easy, secure, and will be covered.
> 
> shapeshift.io is not a wallet, just exchanges one currency for another with a reusable address.  Coinbase is actually a reasonably secure option as far as far as web wallets go.  Just use it until I post the guide.



i spent 250 dollars or so on a ledger blue touch screen hardware wallet a couple of weeks back.. i had just not got around to setting it up and moving my NH wallet contents on to it.. another ouch..

trog

bitcoin is now over 15000.. my heartache gets worse.. he he.. 

my Nicehash wallet would be around 5K now sob sob.. 

trog


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## dorsetknob (Dec 7, 2017)

trog100 said:


> my Nicehash wallet would be around 5K now sob sob..



Easy come even easier to go
Hope you get to recover something tho i don't hold out much hope


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## trog100 (Dec 7, 2017)

dorsetknob said:


> Easy come even easier to go
> Hope you get to recover something tho i don't hold out much hope



i used to get a kick out of watching bitcoin go up.. now mine has been nicked its just like rubbing salt in a wound.. he he

trog

more minergate stuff.. both rigs running now.. 1070 x 8 and 1070 x 2... mining ether..

i still havnt a clue how much they are making though or what i need to be looking for....






trog


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## Mindweaver (Dec 7, 2017)

trog100 said:


> more minergate stuff.. both rigs running now.. 1070 x 8 and 1070 x 2... mining ether..
> 
> i still havnt a clue how much they are making though or what i need to be looking for....
> 
> ...


I believe if you use the console version over the GUI version you'll do better. I believe I read that from @R-T-B on another mining thread.


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## Seba_82 (Dec 7, 2017)

https://www.techpowerup.com/239488/...ehash-hacked-usd-68m-routed-from-user-wallets


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## Papahyooie (Dec 7, 2017)

@trog100








It's pool mining, as I said above. You get paid out of the pool once the pool finishes an entire block.

If you want to know how much you're making, and be 100% certain of it, use PPS payment plan (though you'll make less, as I think you don't share in the block reward that way.) Otherwise, just do the math... what's your hashrate, and what's the value of ETH at the moment... that's all you need to find out.


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## trog100 (Dec 7, 2017)

Papahyooie said:


> @trog100
> 
> 
> 
> ...




thanks for you help... i recon i have just about figured it out.. it goes up in jumps or confirmed block as you say.. 

an example here.. 

account balance  14:17  =  3.65993464 usd

account balance   15:40   6.30122664 usd

at 15:30 it was still on the 3 dollar figure.. 

the calculater  thingy for my 10 cards (300 mhs) shows about 1.5 dollars per hour or 37 dollars per day.. or about 1000 dollars per month.. 

i need to run it a while to check it out for real but fingers crossed its looking good.. i am not pissing about just running ether on the gpus.. 

i have a ledger blue wallet.. i need to set it up and start moving stuff to it on a regular basis..

bitcoin is still going mad its now over 16K.. i might be right about the bitcoin black hole sucking everything up.. he he

trog


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## phill (Dec 7, 2017)

I can't believe the amount it's gone up today, but I suppose supply and demand??  4700 coins gone, so people will pay more for the coin as there's less of them??  Am I right in thinking that??


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## R-T-B (Dec 7, 2017)

phill said:


> I can't believe the amount it's gone up today, but I suppose supply and demand??  4700 coins gone, so people will pay more for the coin as there's less of them??  Am I right in thinking that??



Pretty much.  Mining is seriously hurting right now, people still buy coin.

Kinda dispels the myth that the miners just shuffle the coins amongst themselves, doesn't it?


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## Space Lynx (Dec 7, 2017)

Once governments start cracking down on Bitcoin I think the ANON currencies will skyrocket, Monero, zcash, etc.

Thoughts?

https://www.usatoday.com/story/mone...they-get-too-big-warns-jamie-dimon/692377001/


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## R-T-B (Dec 7, 2017)

lynx29 said:


> Once governments start cracking down on Bitcoin I think the ANON currencies will skyrocket, Monero, zcash, etc.
> 
> Thoughts?
> 
> https://www.usatoday.com/story/mone...they-get-too-big-warns-jamie-dimon/692377001/



Governments aren't going to start cracking down on bitcoin and even if they did, anon currencies would be illegalized as well as a matter of course, plummeting their value.


----------



## trog100 (Dec 7, 2017)

phill said:


> I can't believe the amount it's gone up today, but I suppose supply and demand??  4700 coins gone, so people will pay more for the coin as there's less of them??  Am I right in thinking that??



i dont think the nicehash story has even been noticed excepted for the likes of us who were connected with it.... he he

why bitcoin has gone so mad is a mystery.. its going up too f-cking quick for its own good.. something has to happen..

trog


----------



## Space Lynx (Dec 7, 2017)

R-T-B said:


> Governments aren't going to start cracking down on bitcoin and even if they did, anon currencies would be illegalized as well as a matter of course, plummeting their value.



Didn't China already ban all exchanges?


----------



## R-T-B (Dec 7, 2017)

lynx29 said:


> Didn't China already ban all exchanges?



No, they banned ICOs and made some hostile moves, but a complete ban has yet to happen IIRC.


----------



## Space Lynx (Dec 7, 2017)

R-T-B said:


> No, they banned ICOs and made some hostile moves, but a complete ban has yet to happen IIRC.



Interesting. Will be neat to see what happens in a few years, I think think governments will implement full bans on exchanges within their nation-state borders, but I am not sure even that will be enough to stop it, because well, offshore banks, etc.


----------



## trog100 (Dec 7, 2017)

we live in "interesting" times.. 

trog


----------



## phill (Dec 7, 2017)

I'm getting a little nervous considering it's gone up another £4k in a day or so..  I'm a little worried to loose whatever my mate and I have made.  I don't want to lose it all because it's a mass of cash..


----------



## dozenfury (Dec 7, 2017)

For those looking for NH alternatives, direct mining outside of the automated pools like Nicehash or Minergate will be a bit more profitable and have lower fees.  There is some setup involved, but honestly it's pretty minimal.  Setting up a wallet is easy, and most mining programs have example batch files where you don't have to do much more than plug in your wallet and go.  And there are some fairly inexpensive mining programs like AwesomeMiner or others that can even automate that, and they can be setup to do coin profit switching.  That's really all those automated pools do and they take a larger cut for the convenience.  My earnings are a good 10-15% higher going direct on the same hardware vs. an automated pool, which makes you wonder if some of those automated pools skim a bit in addition to their higher fees (usually 3% or higher compared to 1% for most standard pools).


----------



## Outback Bronze (Dec 7, 2017)

If you log onto Facebook you can watch a live stream with the CEO talking about what happened.

Just went live not long ago

He basically said he wants help to find the hacker/s


----------



## Space Lynx (Dec 7, 2017)

trog100 said:


> we live in "interesting" times..
> 
> trog



Don't worry Trog, we can snuggle eachother and our bitterness on missing out on the gold rush of the 21st century will wither away with each snuggle and puppy face we make at eachother.  Cheer up mate


LOL


----------



## fullinfusion (Dec 7, 2017)

And my posts are being deleted 

What was wrong with a comment about a possible government hack?

PM me MOD and explain why


----------



## trog100 (Dec 7, 2017)

Outback Bronze said:


> If you log onto Facebook you can watch a live stream with the CEO talking about what happened.
> 
> Just went live not long ago
> 
> He basically said he wants help to find the hacker/s



yes i just watched it.. they say they want to get up and running again.. techically  i dont see hackers stealing my money i see hackers stealing nicehashes money..

the way i see it legally nicehash still owe me money and will claim they cannot pay me because the  money they were going to pay me with has been stolen.. i dont see how they can get back up and running again if they still owe people loads of money..

they did use the words.. help us get your money back.. help them get their money back would be more correct.. least i think it would..

the way i think it works is.. nice keep a load of bitcoin online.. the likes of me have a wallet address.. every day (morning) nicehash moves money from its central stash to individual users wallets.. it takes up to two hours each day for them to finish doing this..

what seems to have happened is hackers got into the system about 1 am.. they then moved all the money intended for the next mornings payout into their own wallet address.. 

all very neat and seemingly too f-cking easy.. 

trog


----------



## fullinfusion (Dec 7, 2017)

trog100 said:


> yes i just watched it.. they say they want to get up and running again.. techically  i dont see hackers stealing my money i see hackers stealing nicehashes money..
> 
> the way i see it legally nicehash still owe me money and will claim they cannot pay me because the  money they were going to pay me with has been stolen.. i dont see how they can get back up and running again if they still owe people loads of money..
> 
> ...


like they will care, the government don't want this currency... nor the authorities care... 

That's my freedom of speech and my opinion.. but I do feel for the ppl that lost cash, really I do care. It's not fair but it happens sadly


----------



## R-T-B (Dec 8, 2017)

fullinfusion said:


> And my posts are being deleted
> 
> What was wrong with a comment about a possible government hack?
> 
> PM me MOD and explain why



The government had nothing to do with this (they couldn't care less about mining wallets), but I am still unsure why speculation is being deleted.

They do however care about fraud, and will likely be investigating this.


----------



## fullinfusion (Dec 8, 2017)

R-T-B said:


> The government had nothing to do with this (they couldn't care less about mining wallets), but I am still unsure why speculation is being deleted.
> 
> They do however care about fraud, and will likely be investigating this.


think again, GOVERNMENT = TAX dollars.... they have ppl making money hand over fist and you think they don't care?

Think again friend


----------



## R-T-B (Dec 8, 2017)

fullinfusion said:


> think again, GOVERNMENT = TAX dollars.... they have ppl making money hand over fist and you think they don't care?
> 
> Think again friend



They have all the major exchanges (coinbase and the like) forking over the data at the point of exchange, so they know anyways.

At least in the US, money transmitter licensing regulations ensure that they do know.


----------



## erocker (Dec 8, 2017)

fullinfusion said:


> And my posts are being deleted
> 
> What was wrong with a comment about a possible government hack?
> 
> PM me MOD and explain why


I took the time to scour through the entire thread and there is not a single deleted post from you in here.


----------



## dozenfury (Dec 8, 2017)

The live stream was pretty useless.  They added nothing, and it seemed more to be done just because 24 hours ago they said they'd be down 24 hours.  Since they aren't back up yet they were kind of obligated to say something, and about the only info was that they will be down for days (giving them more time).  Maybe it was a real hack, but to me as someone in IT the whole thing seems all kinds of shady.  Getting 1 engineers password allowed them to withdrawl $60M unquestioned with no approvals or stopgaps?  Also in the update they said "your" money when I agree with the earlier poster.  It was Nicehash's money that was stolen technically, not users.  The insinuation from NH is that it was ALL of Nicehash's money, and they now have no ability to pay what they owe users.  I have a hard time believing all of their cash was online in wallets.  And if that really was all of their money which could be completely emptied with engineer-level credentials that's a level of incompetence that raises lots of eyebrows.  This was like a bank manager sticking a suitcase (well more like truckload) of cash by the front door for his totally-not-buddy to steal and then complaining about being robbed.


----------



## Final_Fighter (Dec 8, 2017)

its to bad they cant do what the ethereum network did and just roll back before the heist so that its like it never happened.


----------



## yotano211 (Dec 8, 2017)

trog100 said:


> yes i just watched it.. they say they want to get up and running again.. techically  i dont see hackers stealing my money i see hackers stealing nicehashes money..
> 
> the way i see it legally nicehash still owe me money and will claim they cannot pay me because the  money they were going to pay me with has been stolen.. i dont see how they can get back up and running again if they still owe people loads of money..
> 
> ...


There is still some money going into that btc wallet today.


----------



## fullinfusion (Dec 8, 2017)

erocker said:


> I took the time to scour through the entire thread and there is not a single deleted post from you in here.


then it's my connection... I owe you one and sorry to have bothered you about it friend


----------



## chaosmassive (Dec 8, 2017)

this is why I mining use miner (ETH claymore), and got paid out directly into my personal wallet
rather than using some 3rd party program in order to mine


----------



## R-T-B (Dec 8, 2017)

dozenfury said:


> I have a hard time believing all of their cash was online in wallets.



I too find it incredibly stupid if they kept that much in hot wallets.

It's either a lie, or a criminal level of ignorance.


----------



## Space Lynx (Dec 8, 2017)

I'm considering buying some IOTA or Ripple coin. Not sure, I think the get rich quick days are done, Monero I predicted would go from $50 to $300 finally got to 300 this week... I am not sure if it has peaked or not yet though honestly... regardless... dropping $300 for one coin is no fun... so I am goingto toss the dice, on IOTA I think.


----------



## Ithanul (Dec 8, 2017)

R-T-B said:


> This is why I liked eligius back when I mined...  They paid with the coinbase transaction, nothing to hack...
> 
> I hope you all were smart and withdrew often.  Web wallets are bad wallets.


Agree, I will soon to be getting one of those nice USB hardware wallets.


----------



## Papahyooie (Dec 8, 2017)

R-T-B said:


> I too find it incredibly stupid if they kept that much in hot wallets.
> 
> It's either a lie, or a criminal level of ignorance.


A "hot" wallet in this case doesn't really mean anything. Their software had to be moving all of this bitcoin around, which means the wallet's private key had to be stored somewhere. If they kept all of it in a paper wallet for example, they'd have to manually move money into and out of it for thousands, probably more like millions of transactions. Once the hacker got hold of the private key (or if the owner got greedy) it'd be easy to transfer the coin. 

Hopefully someone will be watching that hacker's wallet for any transactions that might have personally identifiable information attached, and send some large Italian men with baseball bats.


----------



## Space Lynx (Dec 8, 2017)

Papahyooie said:


> A "hot" wallet in this case doesn't really mean anything. Their software had to be moving all of this bitcoin around, which means the wallet's private key had to be stored somewhere. If they kept all of it in a paper wallet for example, they'd have to manually move money into and out of it for thousands, probably more like millions of transactions. Once the hacker got hold of the private key (or if the owner got greedy) it'd be easy to transfer the coin.
> 
> Hopefully someone will be watching that hacker's wallet for any transactions that might have personally identifiable information attached, and send some large Italian men with baseball bats.



I am surprised more owners don't steal everything from everyones wallets, transfer it to Monero and just vanish to a non-extradition country. lol


----------



## R-T-B (Dec 8, 2017)

Papahyooie said:


> A "hot" wallet in this case doesn't really mean anything. Their software had to be moving all of this bitcoin around, which means the wallet's private key had to be stored somewhere. If they kept all of it in a paper wallet for example, they'd have to manually move money into and out of it for thousands, probably more like millions of transactions. Once the hacker got hold of the private key (or if the owner got greedy) it'd be easy to transfer the coin.
> 
> Hopefully someone will be watching that hacker's wallet for any transactions that might have personally identifiable information attached, and send some large Italian men with baseball bats.



You only need a percentage of funds hot in most cases though.  That's how coinbase operates, as an example.



> send some large Italian men with baseball bats.



I'd prefer INTERPOL to apply some coercion to get the private key back, rather than you know, potentially killing the guy.



lynx29 said:


> I am surprised more owners don't steal everything from everyones wallets, transfer it to Monero and just vanish to a non-extradition country. lol



They likely will.  That's usually what happens, sadly.

But still, it's amazing more pool owners don't do this, yes.  The crypto community is actually pretty amazingly trustworthy all things considered.  It's a weird slice of humanity.


----------



## Papahyooie (Dec 8, 2017)

I agree on all counts, RTB. 

I can't imagine why the owner of NiceHash would have walked off with a measly 60 million (or whatever it was) when he stands to take a chunk out of every single nicehash miner's profit from here to the end of crypto. What he would make off with is pennies compared to what he'd make over time. Plus the fact that they're still around and planning on rebuilding, rather than completely disappeared, suggests to me that it was indeed a hacker and not the owners. 

If they do come back, I bet they don't let it happen again...


----------



## johnspack (Dec 8, 2017)

Small potatoes.  I bet this is just a test.  It worked.  Next one will be much bigger......


----------



## trog100 (Dec 8, 2017)

a screenshot of my sad story.. taken a couple of days before the claimed hack.. the 3.5 k figure would now be close to 6.k.. 

most of my mining gains have been simply from BTC going up in price.. 

i have some kind of proof that nicehash owes me money.. i would imagine many do not.. 







trog


----------



## hat (Dec 8, 2017)

I hope they get it together soon... need to start mining again. It may not have been much but that missing $130 I was set to receive is... well... missed. It could have helped out a lot.


----------



## Jetster (Dec 8, 2017)

R-T-B said:


> The government had nothing to do with this (they couldn't care less about mining wallets), but I am still unsure why speculation is being deleted.
> 
> They do however care about fraud, and will likely be investigating this.


It's not backed by the Government or insured. The only investigation will be by a private firm to try to recover there loss. It's the wild west


----------



## Divide Overflow (Dec 8, 2017)

Jetster said:


> It's not backed by the Government or insured. The only investigation will be by a private firm to try to recover there loss. It's the wild west


This.  There's no contract or guarantee from NiceHash for any "work" done with them.   It's good faith only.   Zero regulation has it's rewards, and it's risks.


----------



## R-T-B (Dec 8, 2017)

Jetster said:


> It's not backed by the Government or insured. The only investigation will be by a private firm to try to recover there loss. It's the wild west



It's still fraud, which is a crime, and will be treated as such.

You guys act like Mt Gox wasn't investigated.  Bitcoin was worth WAY LESS then.


----------



## trog100 (Dec 8, 2017)

hat said:


> I hope they get it together soon... need to start mining again. It may not have been much but that missing $130 I was set to receive is... well... missed. It could have helped out a lot.



i swapped over to minergate hat.. i am just mining ether on its own nothing complicated..

i recon i am pulling in over $30 dollars per day (about 45 dollars so far).. maybe a tad more.. with two cards i recon you would be getting 1/5 of that.. say 6 dollars per day.. more than you were getting on nicehash..

just download the minergate software  install it and you are up and running again in minutes.. just turn the hicehash miner off..

i can help you along if you hit snags i dont think you will though..






trog

ps.. i also have my ledger blue hardware wallet up and running.. so fingers crossed no more big theft losses.. i am just about over my big hurt.. he he


----------



## Papahyooie (Dec 8, 2017)

Since both this thread and the "Riding the Crypto Wave" thread are dealing with the same things at the moment, I'm just going to link a thread I just wrote in that one so everyone sees it. Discuss this post in that other thread. 

https://www.techpowerup.com/forums/threads/riding-the-crypto-wave.233884/page-75#post-3766327


----------



## cdawall (Dec 9, 2017)

I am just going to say this once, I did nicehash because I felt lazy and profits fell into a range of acceptable. I have a decent hashrate myself, but those of you doing a lazy autopool idea really should just set a couple miners up and be ready to flip






This is a good bit more profitable than I could do elsewhere. Something like $130-160 a day.


----------



## hat (Dec 9, 2017)

Wouldn't that require you to constantly be checking the profitability of various coins yourself all the time?


----------



## cdawall (Dec 9, 2017)

hat said:


> Wouldn't that require you to constantly be checking the profitability of various coins yourself all the time?


Yes just like the old days.


----------



## trog100 (Dec 9, 2017)

hat said:


> Wouldn't that require you to constantly be checking the profitability of various coins yourself all the time?



in theory yes but knowing that nicehash spent most of its time mining ether i just followed the same pattern with minergate..

so far it hasnt done me wrong.. two days mining ether has got me around 60 us dollars (30 dollars per day) which is good enough for me on my hardware..

mind you the £1400 quid i spent buying 21 litecoins over the last couple of weeks.. has got me £2500.. a nice £1100 profit (with no leccy bill) for a couple of weeks.. i do keep saying that mining aint the way to do it..

in fact the £2400 i have spent over the last four weeks buying some ether and litecoin is now at £4200 this morning.. litecoin being the star player.. 

i have lost all my f-cking bitcoin but my other little stash is doing okay.. 

trog

ps.. change the litecoin profit to £1300 or around 1700 in US dollars.. one litecoin now stands at £125 UK pounds.. i bought 21 of them total cost £1400 value now £2700..

ps 2.. a day later knock a few hundred quid off those figures.. they are following bitcoin down.. he he


----------



## verycharbroiled (Dec 9, 2017)

Ithanul said:


> Agree, I will soon to be getting one of those nice USB hardware wallets.



smart move. i have a trezor and just ordered a ledger nano s (the nano supports more coins).

make sure you you can restore it with the seed words. initialize it, note a couple of the addys it generates, then wipe it. restore with the seed words and make sure its the same addys. you know youre good to go then even if you lose it. also use a passphrase (its like a 25th seed word). and make sure the seed words are SAFE. keep a few copies in secure locations just in case something happens.

btw the trezor and ledger are compatible with bip39. that means even if trezor and ledger go out of business you can use any bip39 software wallet to get your coins. (i think its bip39 and bip44? iow its safe no matter what)


----------



## phill (Dec 9, 2017)

A Tweet from Nicehash says services will hopefully be back up soon, no ETA but they are working on it..

https://twitter.com/NiceHashMining/


----------



## TheoneandonlyMrK (Dec 9, 2017)

cdawall said:


> I am just going to say this once, I did nicehash because I felt lazy and profits fell into a range of acceptable. I have a decent hashrate myself, but those of you doing a lazy autopool idea really should just set a couple miners up and be ready to flip
> 
> 
> 
> ...


What's that your using for eth atm mate?


----------



## Ithanul (Dec 9, 2017)

verycharbroiled said:


> smart move. i have a trezor and just ordered a ledger nano s (the nano supports more coins).
> 
> make sure you you can restore it with the seed words. initialize it, note a couple of the addys it generates, then wipe it. restore with the seed words and make sure its the same addys. you know youre good to go then even if you lose it. also use a passphrase (its like a 25th seed word). and make sure the seed words are SAFE. keep a few copies in secure locations just in case something happens.
> 
> btw the trezor and ledger are compatible with bip39. that means even if trezor and ledger go out of business you can use any bip39 software wallet to get your coins. (i think its bip39 and bip44? iow its safe no matter what)


Thanks for the heads up.
I been looking at the Ledger Nano S actually.


----------



## trog100 (Dec 10, 2017)

a follow up on my minergate experience.. the first two days looked okay at around 30 dollars per day a total of around 60 dollars.. the third day only added another 10 or so dollars to this.. ??

i am having trouble making a withdrawal to my ledger blue wallet from minergate.. its still saying "pending" with nothing showing up in my wallet.. how long it should take i dont know..

trog

ps.. something just popped up.. nah it cant be another f-cking hacking.. or can it.. he he he.. 

Dear miners! ETH withdrawals are temporarily disabled due to technical maintenance. 
Our apologies for the inconvenience caused.


----------



## yotano211 (Dec 10, 2017)

trog100 said:


> a follow up on my minergate experience.. the first two days looked okay at around 30 dollars per day a total of around 60 dollars.. the third day only added another 10 or so dollars to this.. ??
> 
> i am having trouble making a withdrawal to my ledger blue wallet from minergate.. its still saying "pending" with nothing showing up in my wallet.. how long it should take i dont know..
> 
> ...


I wouldnt use minergate.

Read toward the bottom of the review. They mined Monero and got much less than mining with a claymore mining program.
Yesterday night, I ran my laptop to mine with Monero to test it out for myself. I have a 1070 in my laptop. I ran minergate for about 3 hours, I didnt want to burn up my laptop's gpu so I stopped. 
I checked online hash rates for a 1070 at stock sppeds, it looks like I was mining about 20-30% less than it should be.


Read more: MinerGate Review: Is It a Legit Mining Operation? | 99Bitcoins


----------



## trog100 (Dec 10, 2017)

i just wanted something up and running quickly when nicehash went down.. 

i will read the review link and see what it says..

trog


----------



## yotano211 (Dec 10, 2017)

trog100 said:


> i just wanted something up and running quickly when nicehash went down..
> 
> i will read the review link and see what it says..
> 
> trog


I didnt mine with nicehash but I am kinda looking into more profitable coins. I only mine Ether right now, I am thinking of mining bitcoin gold. It seems to be about 30-40% more profitable.
The other reason for that is since I am getting more and more 1080s to mine with and they suck with Ether.


----------



## trog100 (Dec 10, 2017)

i will give minergate a while to sort out its eth withdrawal issues before i pass final judgement.. 

i am a hodler.. but i do need to recognize peaks and learn to sell.. i have a reluctance to sell when see things going up i need to learn to control that and f-cking sell..

simply by selling my litecoin or ether yesterday and buying it back today i could have made over £400 the ups and down are pretty easy to predict..

trog


----------



## yotano211 (Dec 10, 2017)

trog100 said:


> i will give minergate a while to sort out its eth withdrawal issues before i pass final judgement..
> 
> i am a hodler.. but i do need to recognize peaks and learn to sell.. i have a reluctance to sell when see things going up i need to learn to control that and f-cking sell..
> 
> ...


If you want to mine ether, I would go with claymore miner. 

You can use nanopool to start up. The start up process is simple with nanopool. 
https://nanopool.org/


----------



## cdawall (Dec 10, 2017)

theoneandonlymrk said:


> What's that your using for eth atm mate?


That's electroneum and nanopools display


----------



## hat (Dec 12, 2017)

https://www.tweaktown.com/news/60117/nicehash-reimburse-users-60-million-btc-hack/index.html

Not sure about how true it will be... but there's that.


----------



## trog100 (Dec 12, 2017)

hat said:


> https://www.tweaktown.com/news/60117/nicehash-reimburse-users-60-million-btc-hack/index.html
> 
> Not sure about how true it will be... but there's that.




it would be nice if it were true.. i lost what would be now worth about $6000 dollars.. but i would be happy just to get some of it back..

i have written it off but heres to hoping..

trog


----------



## notb (Dec 12, 2017)

hat said:


> https://www.tweaktown.com/news/60117/nicehash-reimburse-users-60-million-btc-hack/index.html
> Not sure about how true it will be... but there's that.


Well... if they want to stay in this business, they'll have to do this. And do it ASAP because of BTC's volatility.

It's all down to the margin they had. Could they afford full insurance? How much capital have they built up?
Let's not forget this service got traction just half a year ago. It's not like they have huge reserves...


----------



## hat (Dec 12, 2017)

It will not be easy to return 4700 bitcoins. They'll have to build it up and return it slowly, if they do it at all. I'd be okay if they didn't return anything... what do we expect them to do? Pay for it themselves out of their own pocket? I don't expect them to have that kind of personal stash. They're not Exxon. I think it's nice they plan on returning it somehow, but I expect it to take time and I'm okay with that.


----------



## TheoneandonlyMrK (Dec 12, 2017)

notb said:


> Well... if they want to stay in this business, they'll have to do this. And do it ASAP because of BTC's volatility.
> 
> It's all down to the margin they had. Could they afford full insurance? How much capital have they built up?
> Let's not forget this service got traction just half a year ago. It's not like they have huge reserves...


New name same game done new company.


That's the easiest route this would be harder lets hope they had a massive litecoin stash.
Personally I would mine tomorrow for them but im only down £60 so im more sympathetic to their issues, if i were trog though i wouldn't be quite so understanding , hopefully they do this.


----------



## trog100 (Dec 13, 2017)

i did read comment from one guy who is down about $20000 dollars with them.. he was buying hash power and not selling it though.. i think he lost 1.3 bitcoin.. i just lost 0.32 bitcoin.. just over three months mining..

i am now mining eth on minergate.. so far about $175 dollars which i cant withdraw.. it says pending..  

trog


----------



## cdawall (Dec 13, 2017)

Minergate is absolutely terrible.


----------



## yotano211 (Dec 13, 2017)

cdawall said:


> Minergate is absolutely terrible.


When I mined with them for a few hours on one of my mining rigs, they had me mine monero coin very well known that ETH would have gotten me about 30% more profit.


----------



## notb (Dec 13, 2017)

theoneandonlymrk said:


> New name same game done new company.


Yeah, I'm also skeptical about the money return.

But I looked at some mining forums yesterday and an idea struck.
How many active members did nicehash really have? I mean people that did daily mining through that pool.
I used to think nicehash was a giant in this business. I though that $60m consists of hundreds of thousands accounts with small sums (accumulating for the next payout).
But it seems I was wrong. It seems that the actual number of users was pretty low - they just kept large sums in the nicehash wallet. Forums are full of people stating that they lost above 0.1 BTC, which - as biased as it might be - suggests that this could be an issue for just few thousands of clients, not dozens of them.

Nicehash died, but you can hardly see any difference in the hash rates (even on exotic cryptos). I expected them to drop significantly, because layman home miners (who just start the app and forget) would be temporarily cut off.


----------



## trog100 (Dec 13, 2017)

yotano211 said:


> When I mined with them for a few hours on one of my mining rigs, they had me mine monero coin very well known that ETH would have gotten me about 30% more profit.



i used minergate to get going quickly when nicehash went down.. i manually selected etherium and didnt smartmine..

the interface and the return seem okay the only problem being an attempt at a withdrawal is still sat on pending..

the eth network is overloaded with coinbase going down every so often and they stopped trading eth and litecoin yesterday so my withdrawal pending is probably connected with the general overload situation..

i assume "pending" means they havnt got around to doing it yet.. its logged in the withdrawal history.. just hasnt happened yet..

2017-12-09 20:24:27  

0x882E65B9171f4A343ED0bA88d8F517da29D66205  

0.124693281480488605

pending

trog

ps.. i did have look at using nanopool but could not figure out to generate the bloody bat file.. i know how to make one just not sure what to put in it.. he he

maybe someone doing a tutorial might help..

okay i have figured out nanopool its now running on my desktop machine.. using the claymore miner.. mining etherium..  i think directly to my ledger blue hardware wallet.. if that is possible.. so far nothing is showing up.. maybe it takes time.. dunno






trog

minergate update.. at least they have answer my query.. i take this as a positive sign.. 


Hello,

Thank you for your query.
Ethereum withdrawals are  temporarily disabled due to a technical maintenance. We are walking  extra miles to complete it at shortest delays.
Please accept our deep apologies for inconvenience caused.

Best
Inge Solberg
MinerGate Support team

trog


----------



## hat (Dec 16, 2017)

Is that working out for you yet trog?

Nicehash said they're close to being ready yesterday.


----------



## cdawall (Dec 16, 2017)

We told you not to use minergate. Place is a scam


----------



## trog100 (Dec 16, 2017)

cdawall said:


> We told you not to use minergate. Place is a scam



the day i blindly follow advice given to me on the internet is yet to come.. he he

more so when its given to me by someone claiming to be a "we" ..

trog



hat said:


> https://www.tweaktown.com/news/60117/nicehash-reimburse-users-60-million-btc-hack/index.html
> 
> Not sure about how true it will be... but there's that.



minergate .. i am still trying to work it out.. its mined me about $240 dollars or so while i have been trying it.. but the payouts are all over the place.. it would be very easy for them to skim..

as for nicehash

https://krebsonsecurity.com/2017/12...s-cto-of-hacked-bitcoin-mining-firm-nicehash/

if they do come back on line i might still go back to using them i dont know..

trog


----------



## TheoneandonlyMrK (Dec 16, 2017)

cdawall said:


> We told you not to use minergate. Place is a scam


I too have now ditched minergate , total balls imho they couldn't get more then 9mh/s out of my vega on eth , nano pools got it running at it's usual 42mh/s .

minergate still only picks xrm and thats for rx4/580s ,gtx1060s or vega , nonsense and another lesson learned plus xdn and fantomcoin are ass pure ass again imho.

Oh i had an actual question sorry , with nanopools have you sussed an easy way to monitor just your own rigs or output? 

And in gen is Eth the best payer or should I make an electroneum wallet now too, so many wallets now the pwords are hell on some.


----------



## notb (Dec 16, 2017)

trog100 said:


> https://krebsonsecurity.com/2017/12...s-cto-of-hacked-bitcoin-mining-firm-nicehash/


I don't think this should be of any importance. Actually, it's rather reassuring. This means there is someone at Nicehash with very decent knowledge of IT security. 

Some corporate info for those interested:
Nicehash is a limited liability company with somehow unimpressive capital: 500k EUR.

Clearly, Matjaž Škorjanc is the actual head of the company. He controls 55% through his father.
Marko Kobal, CEO, has 45%.
The bad news, IMO, is that actually it is not owned by Škorjanc or Kobal. It's owned by 2 companies that belong to those individuals. And the capital for both of these companies is just 7500 EUR each.
And since Nicehash is not a financial company, but an IT one, they are basically free of any liability. 

Matjaž Škorjanc is totally out of spotlight. No one noticed he is involved in one of the best known cryptocurrency mining companies... Škorjanc is not visible in Slovenian company register, he doesn't have a linkedin account etc.


----------



## trog100 (Dec 16, 2017)

theoneandonlymrk said:


> I too have now ditched minergate , total balls imho they couldn't get more then 9mh/s out of my vega on eth , nano pools got it running at it's usual 42mh/s .
> 
> minergate still only picks xrm and thats for rx4/580s ,gtx1060s or vega , nonsense and another lesson learned plus xdn and fantomcoin are ass pure ass again imho.
> 
> ...



i have just started up nanopool with claymore.. i have it running into an exodus desk top wallet which i have also just installed..

but so far havnt figured how to see what the f-ck its doing apart from the numbers screen.. this tells me its working and hash rates is as expected but thats about.. no nice gui interface.. 

i am just waiting to see what appears in the exodus wallet.. nothing as yet cos it hasnt been running long enough..

trog

ps.. the exodus wallet seems okay..

ps.. 2 this might help.. when i switched my miner off its send me an email telling me with link to check its status.. the link is to some kind of simple gui front end..

my exodus wallet seems to work nicely i just tested with a minergate withdrawal..  now to give it a day and see what nanopool produces..


----------



## R-T-B (Dec 16, 2017)

notb said:


> I don't think this should be of any importance. Actually, it's rather reassuring. This means there is someone at Nicehash with very decent knowledge of IT security.



And a criminal background?  That doesn't concern you at all?


----------



## yotano211 (Dec 16, 2017)

trog100 said:


> i used minergate to get going quickly when nicehash went down.. i manually selected etherium and didnt smartmine..
> 
> the interface and the return seem okay the only problem being an attempt at a withdrawal is still sat on pending..
> 
> ...


I still would not use mingergate. Something is very fishy about them in disabling Ethereum withdraws. I withdraw from ethermine, pool I use, just normally like nothing happened on the Ethereum network. I get coins dierctly into coinbase and I sell. 
If they disabled withdrawing this long then something is not right.


----------



## trog100 (Dec 17, 2017)

yotano211 said:


> I still would not use mingergate. Something is very fishy about them in disabling Ethereum withdraws. I withdraw from ethermine, pool I use, just normally like nothing happened on the Ethereum network. I get coins dierctly into coinbase and I sell.
> If they disabled withdrawing this long then something is not right.



i agree something is not right.. i did make a withdrawal today.. the last two days mining.. less than 40 dollars.. way down on what it should be.. it was hitting 30 dollars per day.. something isnt right with minergate..

i am now using nanopool.. it works fine with a nice steady hash rate and consistent output.. so far i am getting 1.3 dollars per hour.. about 30 dollars per day.. i will know better tomorrow.. its set to payout automatically to my desk top wallet when it hits .2 eth..

but yep something isnt right with minergate..

trog


----------



## notb (Dec 17, 2017)

R-T-B said:


> And a criminal background?  That doesn't concern you at all?


Cryptos are not regulated. This is exactly what most crypto fans love about them.
But not being regulated also means that the head of a bitcoin exchange / pool could be a rapist, a killer or a convicted hacker. I assumed we all understood that.

You want people without a criminal record overseeing your money? Call an investment bank.
You think investment bankers are thieves, try crypto - it's your choice. But remember that you'll be surrounded by shady characters rejected by the regulated institutions.


----------



## trog100 (Dec 17, 2017)

notb said:


> Cryptos are not regulated. This is exactly what most crypto fans love about them.
> But not being regulated also means that the head of a bitcoin exchange / pool could be a rapist, a killer or a convicted hacker. I assumed we all understood that.
> 
> You want people without a criminal record overseeing your money? Call an investment bank.
> You think investment bankers are thieves, try crypto - it's your choice. But remember that you'll be surrounded by shady characters rejected by the regulated institutions.



you are beginning to sound like a shill for officialdom notb.. 

some criminals have a record most of them dont.. he he..

my thinking on nicehash is the owners were trying to run a relatively honest business but probably have some dodgy connections.. as the chinese say.. sleep with dogs catch fleas..

they say the nature of mankind is one of hunter gatherers.. i would translate that to natural born killers and opportunist thieves.. thievery and fraud is in our nature if we think we can get away with it.. this includes people in government and investment banks..  he he..

trog


----------



## R-T-B (Dec 17, 2017)

notb said:


> Cryptos are not regulated. This is exactly what most crypto fans love about them.
> But not being regulated also means that the head of a bitcoin exchange / pool could be a rapist, a killer or a convicted hacker. I assumed we all understood that.
> 
> You want people without a criminal record overseeing your money? Call an investment bank.
> You think investment bankers are thieves, try crypto - it's your choice. But remember that you'll be surrounded by shady characters rejected by the regulated institutions.



You're ignoring the point.  It's still a bad sign.

Cryptos may not be regulated.  Hiring is.


----------



## trog100 (Dec 17, 2017)

having used nanopool for just over 24 hours to mine eth its produced 30 dollars or .042 eth.. now i have found the  gui front end that tells me everything that is going on i like it.. 

trog


----------



## EdInk (Dec 17, 2017)

trog100 said:


> i have just started up nanopool with claymore.. i have it running into an exodus desk top wallet which i have also just installed..
> 
> but so far havnt figured how to see what the f-ck its doing apart from the numbers screen.. this tells me its working and hash rates is as expected but thats about.. no nice gui interface..
> 
> ...



Your minimum payout is at 0.2ETH, still a while to go, GL


----------



## trog100 (Dec 17, 2017)

EdInk said:


> Your minimum payout is at 0.2ETH, still a while to go, GL



you can change that.. 0.2 eth is just what it defaults to.. but now i have found the gui front end i dont need to wait.. its told be i am four days away from my first 0.2 payout which i assume it will do automatically to the desktop wallet i set up for it.. 

trog


----------



## notb (Dec 17, 2017)

trog100 said:


> you are beginning to sound like a shill for officialdom notb..


Maybe. I like it. I like regulation. And working in a highly regulated profession and industry, I can tell you regulation really works. 


> my thinking on nicehash is the owners were trying to run a relatively honest business but probably have some dodgy connections.. as the chinese say.. sleep with dogs catch fleas..


I think the company itself is pretty dodgy on its own. Just after they went down I wrote a post on the forum about where they're registered and how small the team most likely is. Lately I posted some details about shareholder structure and capital level.
And it's not like I have anything against small, efficient start-ups in Slovenia. It's just that users should be well informed about such aspects. And if you look at the page (available in web archives) it doesn't really say anything about the company. No location, no HR details, no info on registration. Nothing. Zero.
My plumber is more professional.
This used to be the "About us" page:
http://web.archive.org/web/20161202000816/https://www.nicehash.com/?p=contact


R-T-B said:


> You're ignoring the point.  It's still a bad sign.


It's a bad sign because? This guy is technically prepared for being a CTO of something we could call a cryptocurrency broker. So if this was regulated, he would most likely pass all requirements and tests.
As for his morality and lawfulness, there most likely are better candidates. But he wasn't hired for the job. He created this company, he owns it. And you are allowed to own a company even if you have a criminal record.
It's down to state agencies to inform citizens of possible risks.


> Cryptos may not be regulated.  Hiring is.


By regulating cryptos, I meant regulating the cryptocurrency market, not the object itself. Sorry.
Regulating the HR policy is also a part of regulation of a financial market. Actually, it is one of the more important aspects.

And as for nicehash: it's still down. While it's possible that they're working on reviving the service and returning money, it's also possible that they're recovering after plastic surgery in Cuba.


----------



## R-T-B (Dec 17, 2017)

notb said:


> By regulating cryptos, I meant regulating the cryptocurrency market, not the object itself. Sorry.
> Regulating the HR policy is also a part of regulation of a financial market. Actually, it is one of the more important aspects.



And that brings us back to the original question:  Don't YOU find it concerning, notb?

You are correct crypto is unregulated.  But that's irrelevant to my question.  My point is:  You would be a fool not to apply a little mental regulation of your own...

There is a reason groups like coinbase are well regarded, anf groups like nicehash considered somewhat fringe...  take a guess what it may be.


----------



## EdInk (Dec 17, 2017)

trog100 said:


> you can change that.. 0.2 eth is just what it defaults to.. but now i have found the gui front end i dont need to wait.. its told be i am four days away from my first 0.2 payout which i assume it will do automatically to the desktop wallet i set up for it..
> 
> trog


sweet! what desktop wallet do you use?


----------



## trog100 (Dec 17, 2017)

exodus.. just download and install.. it could not be easier.. pretty rare with this mining stuff.. he he

i read that you need a go between wallet between a hardware wallet and a mining pool but i dont think thats the case with nanopool paying out in .2 eth chunks .. but exodus seems a handy thing to have anyways..

trog


----------



## notb (Dec 17, 2017)

R-T-B said:


> And that brings us back to the original question:  Don't YOU find it concerning, notb?


And I give you the original answer (well, sort of). Nicehash was a dodgy company from the start. Nothing changed. And the fact that a criminal is their CTO doesn't change anything. It's simply coherent with the overall image and supports the opinion I had earlier.

And as I've said earlier, crypto at this point might be a perfect haven for people rejected by the regulated markets. We know about one guy, but I'm pretty sure it is full of shady characters.


> There is a reason groups like coinbase are well regarded, anf groups like nicehash considered somewhat fringe...  take a guess what it may be.


Here you're making a huge mistake. Coinbase is not some community or tiny, semi-anonymous company. It's already a giant. They have full corporate structure. They're legal, official, supported by mainstream companies and media.
At this point they haven't reached a level a real currency broker/exchange would, but they will if they want to. And looking at their current job offers, they are clearly going for that.

Compared to that Nicehash was a laugh from security and solvency stand point, but their service was very helpful for users and pretty much guaranteed above average profitability.
We all say that cryptocurrencies are risky, but do we all understand what that means? Risk is not just in the fluctuating price of goods we're betting on (aka _market risk_). There are other types of risk and they've all accumulated in this weird web service that really no one knew anything about.


----------



## verycharbroiled (Dec 17, 2017)

trog100 said:


> i read that you need a go between wallet between a hardware wallet and a mining pool but i dont think thats the case with nanopool paying out in .2 eth chunks .. but exodus seems a handy thing to have anyways..
> trog



never heard of that before. a hardware wallet is just like any other directly controlled wallet. i directly send to my trezor from pools (all sorts of amounts, some very small) and never had an issue.

now sending pool payouts to *exchange* wallets directly is another matter. many exchanges do not like that.


----------



## R-T-B (Dec 17, 2017)

notb said:


> Here you're making a huge mistake.



And then you go on to outline my main point...  care to explain what the mistake was?



notb said:


> There are other types of risk and they've all accumulated in this weird web service that really no one knew anything about.



What I am saying is all services should be vetted from the start if you want to risk mitigate.  Nicehash never was.


----------



## notb (Dec 18, 2017)

R-T-B said:


> And then you go on to outline my main point...  care to explain what the mistake was?


You've compared Coinbase and Nicehash as "groups".

Coinbase is already far from being some "group" doing some crypto transfers. It's a proper financial institution. It's structured, formal and transparent - and that makes it credible.
Coinbase tries to cooperate with banks. To make a bridge between those 2 worlds. Nicehash was a haven for anti-state individuals.


> What I am saying is all services should be vetted from the start if you want to risk mitigate.  Nicehash never was.


Why would it be? There is no law that would make it possible to control them. They're like financial chiropractors. They're doing something weird and kind of fake, but since it's not very harmful, let's just give people the right to make mistakes.
The important thing is that Nicehash was not a crypto exchange. They only organized mining, which is creating value from nothing. $60mln of BTC might have disappeared, but it wasn't real money that someone transferred to Nicehash accounts.

If Coinbase had a hack that purges all accounts, it would be a vastly different situation.


----------



## R-T-B (Dec 18, 2017)

I'm speaking from policy at an individual level notb, not an institutional one.

And yes, it is possible to find a more legit outfit for mining than nicehash.

I am unsure why you insist on going into legalities when that had nothing to do with my original point.


----------



## trog100 (Dec 18, 2017)

verycharbroiled said:


> never heard of that before. a hardware wallet is just like any other directly controlled wallet. i directly send to my trezor from pools (all sorts of amounts, some very small) and never had an issue.
> 
> now sending pool payouts to *exchange* wallets directly is another matter. many exchanges do not like that.



i watched a youtube  vid explaining it.. the guy talked about mining directlly to a hardware wallet and mentioned thousand of micro transaction taking place which eventually overwhelmed the small compute chip in the hardware wallet.. 

but like many things crypto you read on the internet it could be total bollocks.. but i did take notice.. just in case.. he he 

trog


----------



## hat (Dec 19, 2017)

Well it was back on the 15th NH said they were in the "final stages" of getting everything running...


----------



## hat (Dec 20, 2017)

They said they're coming back sometime today (the 20th) apparently. 

Why does that skeleton have two mice?


----------



## _JP_ (Dec 20, 2017)

hat said:


> Why does that skeleton have two mice?


He's a very productive skeleton, he needs two cursors


----------



## hat (Dec 21, 2017)

Looks like it's partially up and running, not all the way there yet...


----------



## eidairaman1 (Dec 21, 2017)

_JP_ said:


> He's a very productive skeleton, he needs two cursors



Worked to death


----------



## Divide Overflow (Dec 21, 2017)

Looks like the Nicehash website is back up.  Odd that they don't mention the theft at all, but their "about" page touts that they have "high security".


----------



## yotano211 (Dec 21, 2017)

Divide Overflow said:


> Looks like the Nicehash website is back up.  Odd that they don't mention the theft at all, but their "about" page touts that they have "high security".


I got a good laugh out of "high secuity".


----------



## hat (Dec 21, 2017)

They're supposed to have rethought how they handle things this time around.


----------



## notb (Dec 21, 2017)

hat said:


> They're supposed to have rethought how they handle things this time around.


Well... there's more captcha, more 2FA. It didn't even allow me to use the previous password! 
The "about" page now has their address. Still no names or proper company information.
And the page used to be available in English, Russian and Chinese (which says a lot, by the way...). Now it's just English and Russian.

"Withdrawals are temporarily delayed. Learn more"
The "learn more" takes me to news page with really nothing from December.

The whole payout history was purged, so the profitability calculator has no data (this one I don't understand)...


----------



## hat (Dec 21, 2017)

I'm now able to mine on the usual (for me) USA San Jose server. Feels good to be back at it and eventually be receiving payments again for "just in case".


----------



## trog100 (Dec 21, 2017)

hat said:


> I'm now able to mine on the usual (for me) USA San Jose server. Feels good to be back at it and eventually be receiving payments again for "just in case".



what is you dollars per day showing.. i probably will go back in the hope of getting my lost stash back but i am curious to compare what hicehash is churning out compared with nanopool..

trog


----------



## hat (Dec 21, 2017)




----------



## trog100 (Dec 21, 2017)

9.72 dollars per day for 2 x 1070 cards looks pretty good to me..

trog


----------



## hat (Dec 21, 2017)

It's gone down a little... but this is close to what it was supposed to be when I first got into it. Would be nice if it stays this way...


----------



## notb (Dec 21, 2017)

hat said:


> It's gone down a little... but this is close to what it was supposed to be when I first got into it. Would be nice if it stays this way...


If this was true (~100 days ROI), GPU prices would be back to mid-2017 level.


----------



## trog100 (Dec 21, 2017)

i just fired mine up.. it remembers my old balance of .31 btc and says it will announce the exact date when the old balance will be payed out at the end of january..

i havnt altered anything and its mining nothing keeps  its not connecting to the pool.4 it tries and repeatedly fails .. is this because i havnt done something i am supposed to do or what.. ??

i am back on the nanopool at the moment..

trog



hat said:


> It's gone down a little... but this is close to what it was supposed to be when I first got into it. Would be nice if it stays this way...



it will go back up when the price of whatever its mining goes back up.. or down as the case may be.. 

nanopool does exactly the same.. the doller payout goes up and down with the price of eth..

trog


----------



## Papahyooie (Dec 21, 2017)

So you guys have actually gotten back into Nicehash then? Mine says I have to reset my password and to check my email. Haven't seen an email yet, and have been trying for 12 hours now. Ofc it's not in the spam folder...


----------



## trog100 (Dec 21, 2017)

Papahyooie said:


> So you guys have actually gotten back into Nicehash then? Mine says I have to reset my password and to check my email. Haven't seen an email yet, and have been trying for 12 hours now. Ofc it's not in the spam folder...



i got straight back in but its not mining anything.. hat seems to be back in and mining.. i await his instructions.. 

this is what i am seeing






right.. figured it... you should get that email when you try and load stats online.. you change your password with the link it gives you.. you also need to change your wallet address.. none of the old ones work any more..

mine is now running okay..

trog


----------



## hat (Dec 22, 2017)

Mine worked fine without changing my password and BTC address and all that. It just took a while to actually work, I figured those server(s) still weren't fully functional yet. Still, I changed password and BTC address anyway.

On a side note, apparently Coinbase now supports Bitcoin Cash. Also, I somehow have about $77 worth of the shit in my Coinbase account right now. How it got there, I have no idea...


----------



## cdawall (Dec 22, 2017)

hat said:


> Mine worked fine without changing my password and BTC address and all that. It just took a while to actually work, I figured those server(s) still weren't fully functional yet. Still, I changed password and BTC address anyway.
> 
> On a side note, apparently Coinbase now supports Bitcoin Cash. Also, I somehow have about $77 worth of the shit in my Coinbase account right now. How it got there, I have no idea...



They sent emails about it before the fork. It's because you had btc at the time of the fork


----------



## hat (Dec 22, 2017)

It would be nice if there was an easy way to exchange BTC for another coin within my Coinbase account. I might try to diversify a little.


----------



## trog100 (Dec 22, 2017)

anyone that had bitcoin before august when it forked got some bitcoin cash.. coinbase linked one to the other.. you didnt have much but at the price it is now it comes to $77.. you are a hodler without knowing it.. he he

i cant make my mind up whether or not to run nanopool and stash eth or hicehash and get bitcoin.. i would sooner stick with eth but if i dont use nicehash i doubt i will ever see what they owe me..

i might do a bit of both.. 

trog


----------



## verycharbroiled (Dec 22, 2017)

trog100 said:


> i cant make my mind up whether or not to run nanopool and stash eth or hicehash and get bitcoin.. i would sooner stick with eth but if i dont use nicehash i doubt i will ever see what they owe me..



once they payout what they owe me as a hash seller (~80 bucks) i may go back but honestly i am liking miningpoolhub better right now. if they seem to be legit for a few months, well, we will see.


----------



## trog100 (Dec 22, 2017)

everything is down  by close to %20 to night except ripple.. no apparent reason just a huge sell off..

we are about to find out how low it can go.. he he

trog


----------



## cdawall (Dec 22, 2017)

trog100 said:


> everything is down  by close to %20 to night except ripple.. no apparent reason just a huge sell off..
> 
> we are about to find out how low it can go.. he he
> 
> trog



The coins I am mining went up as high as 300% today. Currently TZC is sitting at 67% up for the day and ETN is 48% both had higher hits throughout the day.


----------



## yotano211 (Dec 22, 2017)

I get $3.07 on a laptop 1070. I have it running stock. 

I dont mine with a laptop, it was only for test.


----------



## notb (Jan 2, 2018)

notb said:


> Clearly, Matjaž Škorjanc is the actual head of the company. He controls 55% through his father.
> Marko Kobal, CEO, has 45%.
> The bad news, IMO, is that actually it is not owned by Škorjanc or Kobal. It's owned by 2 companies that belong to those individuals. And the capital for both of these companies is just 7500 EUR each.
> And since Nicehash is not a financial company, but an IT one, they are basically free of any liability.
> ...



Just an update to the information above.
Nicehash changed a bit at the end of December.
*Kobal was let go / quit.*
*There's a new CEO: Zdravko Poljašević.* He looks like a guy from nowhere - possibly another dummy CEO. 
*Škorjanc now owns 65% of the company*, he is still the CTO*.* The rest is controlled by a guy called *Šokić Aljoša* - owner of a small IT company in Slovenia called *Complete Solutions*. That said, Aljosa's share in Nicehash is not via this IT company, but through another entity (possibly a one man firm): *Fleming Digital* - started in September 2017, unknown branch or previous activities.

So the "serious investor" scenario, that some of us hoped for, just didn't happen. It's also very unlikely that *Šokić Aljoša* can cover the missing $70m.

Did anyone here get his money back? Or any info when it might happen?


----------



## trog100 (Jan 2, 2018)

i havnt got my mine back yet but it does show two balances.. the old one and the current one.. the 31 january message is till there..

they claim they are setting up free withdrawals directly into coinbase.. as yet i think all withdrawals are on hold..

i will be pleasantly happy if i get my 1/3 of a bitcoin back.. not overly bothered if i dont.. i basically wrote it off weeks ago..

trog

ps.. the dodgy east european geezer scenario dosnt bother me that much.. crooks come in all shapes and forms.. he he..


----------



## yotano211 (Jan 2, 2018)

trog100 said:


> i havnt got my mine back yet but it does show two balances.. the old one and the current one.. the 31 january message is till there..
> 
> they claim they are setting up free withdrawals directly into coinbase.. as yet i think all withdrawals are on hold..
> 
> ...


So there are two balance that show up, one fake and one real balance. 
I stil dought they got 68million from a loan company to deal out to people that lost their btc.


----------



## trog100 (Jan 2, 2018)

they give two options to click on.. on the left is the current balance.. on the right is the old balance showing the balance before the hack took place..

the fact they do display the old balance does make me think they are genuine as regards paying back what they owe people but who knows.. time will tell.. he he

i am not using nicehash  at the moment.. i am mining eth on nanopool..

trog


----------



## notb (Jan 2, 2018)

trog100 said:


> ps.. the dodgy east european geezer scenario dosnt bother me that much.. crooks come in all shapes and forms.. he he..


There's nothing dodgy about eastern Europe. Don't worry. It's just this company (and its owners) who are somehow shady.
Actually, as far as financial systems go, these countries are rather safe. Communist history means they are strongly regulated and during the last 20 years were mostly loosening the financial law, while most of western world is doing the opposite.
Slovenia is also the richest (by both GDP per capita and quality of living) state of the historical Eastern Bloc. Their GDP per capita is higher than Portuguese and more than 2/3 of Italian. Not bad.


----------



## silkstone (Jan 2, 2018)

For anyone into trading coins, you might like to take a look at this: https://coindar.org/en/forecasts/

Take any predictions with a pinch of salt and do your own research as to what the predictions are based on. I wouldn't recommend using it to blindly buy coins, for me it brings to my attention coins that might have something 'big' happening. For example, I quite like the prospects of ETC in the short term as there is a hard-fork coming so I sold about $100 of mining profits and bought some yesterday.

For anyone not using auto-switching https://whattomine.com/coins is a pretty good resource. I'm only not using mining hub's auto-switch function right now because ZCL is continually on the top for me, and they don't support XVG-Lyrar2REv2


----------



## trog100 (Jan 2, 2018)

i am about to buy some cardano.. half an eth should  get me about 600 of them.. he he

trog


----------



## silkstone (Jan 2, 2018)

trog100 said:


> i am about to buy some cardano.. half an eth should b get me about 600 of them.. he he
> 
> trog



After an earlier (stupid) mistake with ZCL and SC, I have reversed my decision to consolidate all my coins into ETH and XRP and am diversifying again.

Just 1-5% of my portfolio in some smaller coins. It's only a few bucks worth of each, but they have the potential to pay off a couple of hundred bucks here and there

My current "long shot" coins are:

VTC - 2.3%
SAFEX - 1.1%
ETN - 2.1%
STRAT - 2.1%
EOS - 2.9%
XVG - 0.9%
ETC - 5.7%

XRP used to be on that list with about 10%, but since it's meteoric rise this past month, it's now the largest stake in my portfolio. Z-Classic and SiaCoin would have been large parts of my portfolio too, but I ignorantly sold off for spare-change a couple of hours before the jump.


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## Papahyooie (Jan 2, 2018)

hat said:


> It would be nice if there was an easy way to exchange BTC for another coin within my Coinbase account. I might try to diversify a little.



Just transfer some to cryptopia. Hundreds of coins available for trade there.


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## notb (Jan 2, 2018)

Papahyooie said:


> Just transfer some to cryptopia. Hundreds of coins available for trade there.


Which looks like another anonymous company with no guarantee. Have they already been hacked? 

Why would you give your savings to someone you don't even know the name or address?
Would you give me your cryptos? I swear I'll give them back! :-D


hat said:


> It would be nice if there was an easy way to exchange BTC for another coin within my Coinbase account. I might try to diversify a little.


Well, there's a reason why they don't support exotic altcoins. 

Also, why exactly do you want to diversify so much? Cryptos are highly correlated, so it won't save you from a drop. You're hoping that the price of one of them will explode?


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## trog100 (Jan 2, 2018)

"Also, why exactly do you want to diversify so much? Cryptos are highly correlated, so it won't save you from a drop. You're hoping that the price of one of them will explode?"

###

sometimes the coins follow bitcoin.. sometime they break away and do their own thing.. cardano for example has seen a %472 rise over the last three weeks.. its for sure bitcoin hasnt.. he he

they are currently about half a euro each.. i am halfway through the complicated process of buying a few hundred of them.. first set up a wallet.. send half an eth from coinbase to binance.. buy some cardano with the eth sent from coin base.. withdraw the cardano to the set up wallet..

one snag.. binance  has a suspend sign on cardano withdrawals.. binance has shut it down.. i recon half the world is trying to do what i am tryng to do.. he he..

trog


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## Papahyooie (Jan 2, 2018)

notb said:


> Which looks like another anonymous company with no guarantee. Have they already been hacked?
> Why would you give your savings to someone you don't even know the name or address?
> Would you give me your cryptos? I swear I'll give them back! :-D
> 
> ...



If you think cryptopia is an anonymous company, then you should do more research. No, I wouldn't give you my crypto, because you hold no presence. Cryptopia is the fourth largest crypto exchange in the world, and trades in literally billions of dollars worth of crypto a day so... maybe they're a little more trustworthy than you. Regardless, there are virtually no guarantees with any crypto exchange. Caveat emptor. Coinbase offers no more of a guarantee than cryptopia does, and yet plenty of people use it. What's the difference? As for diversifying, cryptos are definitely not highly correlated. One look at the exchanges can tell you that. I made a 400% profit (trading on cryptopia btw) on a single coin, simply because its dollar value was highly disparate from its bitcoin value. Sold bitcoin for an altcoin, sold for dollars a few days later, bought more bitcoin. Since it was low priced in bitcoin but (relatively) high priced in dollar value, I made a killing on it.

Your statements there are simply based in bad information all the way around.


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## silkstone (Jan 2, 2018)

notb said:


> Which looks like another anonymous company with no guarantee. Have they already been hacked?
> 
> Why would you give your savings to someone you don't even know the name or address?
> Would you give me your cryptos? I swear I'll give them back! :-D
> ...



They are just exchanges. Cryptopia is pretty big, but I prefer poloniex. 
Big no means should you keep any significant number of coins on there. For that, transfer to a local wallet, preferably offline/paper



trog100 said:


> "Also, why exactly do you want to diversify so much? Cryptos are highly correlated, so it won't save you from a drop. You're hoping that the price of one of them will explode?"
> 
> ###
> 
> ...



Try bittrex


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## trog100 (Jan 2, 2018)

to late now i have 576 coins valued at $435 sat on binance.. i assume i will be able to withdraw them one day.. he he

trog


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## notb (Jan 2, 2018)

trog100 said:


> sometimes the coins follow bitcoin.. sometime they break away and do their own thing.. cardano for example has seen a %472 rise over the last three weeks.. its for sure bitcoin hasnt.. he he


This is what I meant. Are you guys keeping so many cryptos hoping for a price jump? This happens, obviously. But if you divide your money among 10+ currencies, you won't make much...
But as for big drops, they're usually market-wide. So the safest bet would be to hold just the large currencies (exactly what coinbase does).


silkstone said:


> They are just exchanges. Cryptopia is pretty big, but I prefer poloniex.


NASDAQ is also just an exchange. 


Papahyooie said:


> If you think cryptopia is an anonymous company, then you should do more research.


It's a company run from a shed. It has 2 directors with so-so background, very little info on the website (including the lack of address, names, fund coverage info etc). So all much like with NiceHash.

BTW, here's the shed if you don't believe me. It's really anonyumous. 


> Cryptopia is the fourth largest crypto exchange in the world, and trades in literally billions of dollars worth of crypto a day so... maybe they're a little more trustworthy than you.


But wasn't NiceHash the "largest mining marketplace"? 


> Coinbase offers no more of a guarantee than cryptopia does, and yet plenty of people use it.


Of course it does. Now it seems you should do more research. 


> As for diversifying, cryptos are definitely not highly correlated.


...with this as well.


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## Papahyooie (Jan 2, 2018)

Oh ok. Well if you just say so then it must be true. My apologies.  

EDIT: I'll play along... Yes, a crypto exchange requires a huge warehouse to store all the physical assets... So the building must be hugely relevant. NASDAQ is just an exchange. Also well respected, so I'm not sure what your point is. Nicehash is nowhere near the largest mining group. The largest of its kind perhaps, where non-miners can buy hashing power, but that's pretty irrelevant. They got hacked, sure. So could Cryptopia. So could Coinbase. Hell, so could NASDAQ for that matter.

Coinbase literally has a no-warranty clause in their terms of service. So no...

EDIT: Also, totally unrelated, but to all those using NiceHash still, I just used their free withdrawal to coinbase, and it worked perfectly. No fees to transfer, and it went through instantly.


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## trog100 (Jan 2, 2018)

notb is doing his usual thing.. trolling crypto... he he

he just drags up every negative aspect that comes into his head.. 

trog


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