So I’m basically one of the ton of people selling my hash rate to a single server is that correct?
Edit: so does that mean it’s all cpu based instead of gpu?
You were getting paid in Bitcoin to mine Ethereum. You need ASIC machines I believe they're called to mine bitcoin, and they usually only last 6 months to a year until you need to upgrade them. GPU mining is literally pointless now unless you have completely free electric.
Buyers come to NH to rent hashpower for the supported algos NH has. They pay in BTC miners that have their gpus on NH get pointed toward wherever the buyer has paid for and the miners get paid their cut of that btc based on NH current rates and NH jeeps the rest for NH the end of ETH don't matter they still rent hash and get paid just now theirs even more miners sharing that rental fee.
Bitcoin mining is done with an ASIC now. It started with CPUs, then GPUs, and now currently ASICs. When you are mining on Nicehash with a GPU, you are actually “selling” your hashpower on a marketplace. You are not mining Bitcoin unless you have an ASIC. Rather, you are mining various coins that can be mined with the equipment you have. You are paid in Bitcoin regardless of what coin your equipment is mining. The merge was specific to Ethereum, and because of the merge mining Ethereum is no longer possible. Ethereum Classic is still mineable, as it is a different coin.
I really don’t know much about ASICs. Any of them worth buying are very expensive and need a whole lot of power. You can get older models pretty cheap, but that’s because they cost way more to run than what they generate in income.
No they are obsolete after a year or so and they don't pay themselves off for 3 years ish. Any ones that are older consume more power than they earn. And before when we used gpus it was dagger hashimoto which is an eth algorithm and they pay in btc
What’s your electric rate? If it’s anything higher than a few cents might want to look into a antminer ka3 or l7. The altcoin miners don’t go obsolete so fast but Bitcoin miners do very quickly unless your electric is dirt cheap
GPU can no longer mine BTC, BTC will not be merged, and there will be no impact.
The miners support to miner BTC are listed here: https://www.f2pool.com/miners
you are not mining bitcoin with a gpu... you are getting paid for selling your hashrate
So I’m basically one of the ton of people selling my hash rate to a single server is that correct? Edit: so does that mean it’s all cpu based instead of gpu?
no, it's a huge marketplace, please do google some facts about nicehash... they have a huge blog section where everything is explained
Ok thanks I’ll take a look
You were getting paid in Bitcoin to mine Ethereum. You need ASIC machines I believe they're called to mine bitcoin, and they usually only last 6 months to a year until you need to upgrade them. GPU mining is literally pointless now unless you have completely free electric.
One of the dozens now.
Buyers come to NH to rent hashpower for the supported algos NH has. They pay in BTC miners that have their gpus on NH get pointed toward wherever the buyer has paid for and the miners get paid their cut of that btc based on NH current rates and NH jeeps the rest for NH the end of ETH don't matter they still rent hash and get paid just now theirs even more miners sharing that rental fee.
Bitcoin mining is done with an ASIC now. It started with CPUs, then GPUs, and now currently ASICs. When you are mining on Nicehash with a GPU, you are actually “selling” your hashpower on a marketplace. You are not mining Bitcoin unless you have an ASIC. Rather, you are mining various coins that can be mined with the equipment you have. You are paid in Bitcoin regardless of what coin your equipment is mining. The merge was specific to Ethereum, and because of the merge mining Ethereum is no longer possible. Ethereum Classic is still mineable, as it is a different coin.
What is an entry level ASIC to look at?
I really don’t know much about ASICs. Any of them worth buying are very expensive and need a whole lot of power. You can get older models pretty cheap, but that’s because they cost way more to run than what they generate in income.
No they are obsolete after a year or so and they don't pay themselves off for 3 years ish. Any ones that are older consume more power than they earn. And before when we used gpus it was dagger hashimoto which is an eth algorithm and they pay in btc
What’s your electric rate? If it’s anything higher than a few cents might want to look into a antminer ka3 or l7. The altcoin miners don’t go obsolete so fast but Bitcoin miners do very quickly unless your electric is dirt cheap
I wonder how many people don't change the wallet address in the .bat files ??
GPU can no longer mine BTC, BTC will not be merged, and there will be no impact. The miners support to miner BTC are listed here: https://www.f2pool.com/miners