As many of you know Nicehash recently got hacked and had nearly 6,000 bitcoins stolen from it's wallets. Basically wiping out all the user's earnings. Now with all the devastation I found something interesting worth to note for small miners. People who do not have farms of gpus and people who mine just on their personal computers may have noticed this happening. What is happening is some of the altcoins hash rates have dropped making it easier to mine the altcoins. Pretty sure this will not last long, but its interesting to watch how the is affecting the cryptocurrency world.
Now the couple examples I listed are just the ones I could find which looked to be affected by lose of Nicehash. However it could also be a coincidence that the altcoin became unprofitable so miners moved on. Either way just news I like to show that I have been watching on https://www.whattomine.com and mining in general. Nicehash had been in the top 10 in earnings on whattomine for quite sometime but now is basically off the list since its shutdown. (By the way if you were wondering I could not take advantage of the current drops when mining because I am still trying to figure my rig. Frustrating to watch another opportunity slipping by.)
Vertcoin
Chart snapshot from https://www.bitinfocharts.com.
Feathercoin
Chart snapshot from https://www.coinwarz.com.
Ethereum
Chart snapshot from https://www.coinwarz.com.
I maybe grasping straws here but my gut feeling is Nicehash fallout is affecting some altcoins and this could be a temporary opportunity for the casual miner to be mining more profit if they find a coin that has dropped in hashrate.
Thanks for reading.
Congratulations @mawit07! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by mawit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Ethereum difficulty dropping has nothing to do with NiceHash between Nov 8th to December 8th. There are more profitable coins and NiceHash decides depending on the profitability.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can't stress this enough. Never hold your funds ok exchanges, online wallets etc. Always make a paper wallet store the back up in a fire proof safe. Really sad to hear yet again another company hacked. Thanks for the write up. Voted and following!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit