Post
Topic
Board Service Announcements
Re: [ANN] NiceHash.com - sell & buy hash rate cloud mining service / multipool
by
cidman
on 12/06/2015, 20:28:48 UTC
Different algorithms and service locations were differently affected. For some (Sha256 and Scrypt on NiceHash) were almost unaffected, because these most likely had big fat orders with enough of BTC loaded.

Quark on NiceHash for example, was severly affected - I remember the price was 10 times lower than usual when we started web back up, but then in few minutes price went up as buyers started placing new orders.

A lot of buyers do not put a lot of BTC, they rather use refill method every so often. If you check Quark order list now, you can see that not a single order has more than 0.2 BTC as remaining balance. The total hashpower of Quark before outtage was around 50 GH/s and the total when service came back around 30. You can do some simple math to figure out that these slim orders were quickly depletted in hours of downtime.

Also worth to note is that with parameter p= we give every miner an option to stop mining if price falls below this treshold. Not a single other pool has this option. If you do not want to mine for change, you should always set this parameter. Did you use it?

We did not skim or earn any BTC from this unfortunate event. Buyers are paying miners. The only beneficiers of this event are buyers that placed low paying orders. Maybe you should blame them, because they didn't put high enough prices.



Well I did do the math and really didn't have to, since hours remaining for certain orders are listed.  But going upon current orders there is no way that within 7 hours the price would go from .5522 BTC/Gh/day to less than .13.  Let alone be less than .25 for the majority of those hours. But i guess well never know what orders were in there before the "server crash" unless someone had screenied it.  Let alone we don't really know who the ones are who have the low orders that will never be hit on normal circumstances.

Also I still havent received any reply from the email sent to support from before I ever posted here yesterday.  I hope that you guys didnt plan this but I still have removed all my miners from your network to be safe.  Something is strange here.

I do wanna say this for those still using or have intentions of using.  I have had no problems before this and think this is easily the better of the 2-3 pools similar to this, simply based on volume of orders.  When things are working properly they work great and the payout is better than if you would hash the coins directly.