Posts Tagged ‘Nicehash

NiceHash has just announced the support and availability of the CryptoNightHeavy and Lyra2z algorithms on their platform. The new algorithms are showing that there is high interest in term of hashrate for crypto coins such as Sumokoin (SUMO), Haven (XHV) and Loki (LOKI) that use the CryptoNightHeavy mining algorithm as well as Zcoin (XZC) and GINcoin (GIN) that rely on Lyra2z, though there are other coins that use these two algorithms as well. So for users that need more hashrate to mine any of these coins or others that use the two newly added algorithms the marketplace is now open, the same goes for people that just want to sell their hashrate and get paid directly in Bitcoin (BTC) that can also take advantage from the new NiceHash support for CryptoNightHeavy and Lyra2z. On a side note, new crypto coin launches using either of these algorithms may now also be hammered with huge hashrates right from their launch if there are users renting big amounts of CryptoNightHeavy or Lyra2z hashpower, so have that in mind as well if you are always on the lookout for new coin launches.

The controversy surrounding the release of a number of CryptoNight ASIC miners from various manufacturers and the upcoming fork of Monero (XMR) and some other crypto coins to a new ASIC-proof CryptoNightV7 algorithm continues. NiceHash has recently announced that they will continue to support both the old CryptoNight as well as the new CryptoNightV7 algorithms. The service should add support for the new V7 algorithm by the end of the month, probably before the Monero fork planned to happen later this month. Furthermore a new NiceHash Miner that will bring support for the CryptoNightV7 algorithm should also be available soon, so while the updated POW algorithm will be ASIC-proof you would still be able to rent a lot of GPU hashpower apparently.

Other crypto coins that are using the same cryptoNight proof of work mining algorithm are expected to follow suit and also fork to the new ASIC-proof version of CryptoNight, though it would most likely take them some extra time. There are some coins that have already announced their plans to do a hard fork and follow in the footsteps of Monero (XMR), others are still considering and of course there will be some for sure that will remain on the old algorithm that can be mined using the upcoming wave of CryptoNight ASIc miners. Still going for a CryptoNight ASIC miner at the moment is considered very risky and will most likely cost you much more that you would be able to mine back, though there are no guarantees.

To keep track of the time left until Monero (XMR) hard forks to the new CryptoNightV7…

NiceHash has announced its plans to start reimbursing all users that were affected by the security breach that happened on December 6th last year starting this Friday, February 2nd. The NiceHash Repayment Program will initially reimburse 10% of the old balance amount to all users that were impacted by the security breach. NiceHash will continue to periodically repay the remaining amount to all users in the coming months untill the full amount from the old balances is paid back. The old balance will be repaid in Bitcoins (BTC) and not in the fiat value or any other cryptocurrency…

Repayment program for internal wallet users
Users that were registered on the NiceHash platform before December 6, 2017 can log in to their account and can see their old balance tab under the Wallet section on their Dashboard. The old balance shows the total amount of Bitcoins (BTC) that users had on their wallet address prior to the attack. This balance will be fully reimbursed by NiceHash to users current balances, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Registered users should enter the Repayment program by clicking the “Enter repayment program” button on their Dashboard. Users will be notified about all future payments in advance.

Repayment program for external wallet users
Users who were not registered with NiceHash at the time of the attack and were using the NiceHash service with their external wallet address will also be reimbursed in the same way as internal wallet users. External wallet users can go to the following page and enter their external wallet address (that they were using at the time of the attack) to see their old balance. This balance will be fully reimbursed by NiceHash to users external wallet addresses, starting with the initial ten percent of the total amount on Friday, February 2, 2018. Users will also be able to monitor repayment progress on the miner page.

Conditions for payment to external wallet addresses do apply with the Repayment program. When you reach 0.01 BTC you are eligible for payment. NiceHash will include your old balance in this amount. For example, if your old balance (that is going to be reimbursed) is 0.009 BTC, you still have to mine an additional 0.001 BTC to this external wallet address so you reach 0.01 BTC in total. Once the combined balance shows 0.01 BTC, payment will be made to your external wallet address.


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