So Today Is Day One For Those Hit By the NICEHASH Hack For Some 10% Payouts, But You Didn't See It Arrive, HERE IS WHY:

Today marks for a lot of us miners a little day of kick backs from the ongoing issue that hit anyone mining with NICEHASH back in December. If your new to crypto, NICEHASH was embezzled and supposedly robbed of all its holdings early Dec 2017 and there has been an ongoing plan for repayment to the users that took losses due to this.

It was eventually announced that on Jan 31st they would disclose the plan for reimbursement for those with internal and external wallets that had their funds wiped out from this very hack that hit NICEHASH. Feb 2nd, today, they planned on a 10% pay out to everyone that was owed from this crypto catastrophe. Albeit, for me personally that 10% announcement was a joke, we already dipped down in value so much that for the average miner it probably is pocket change to receive today.

But wait, you didn't get your pay?? Well the plot thickens for you if you didn't

After some digging I found a little disclosure page that i did not see until today on this pay day, which outlines the many facts that you pretty much need to turn over your hashpower once again to NICEHASH just to simply get the pay you were owed in the first place. Lets point you guys to this one important piece of info per NICEHASH so you are a little more aware as to why you may not have gotten pay today:

https://www.nicehash.com/help/when-and-how-do-you-get-paid

So from reading that page you have to understand a few things going on here. You are basically being forced to earn NICEHASH more income to get what is rightfully yours back if you suffer like many to not have a lot of hashpower to get this initial payment of your 10% earnings back. If you have a pending return lower than 0.01 BTC right now, and you do not fire up your miners on NH in the next 30 days it appears, then you my friends will be basically dusting off your balance and handing right back to NICEHASH from the wording on this page and also from what support has told others.

THIS IS PISS POOR TREATMENT OF USERS IN MY OPINION!!!

This is the main reason I didn't go back to Nicehash, everything since this hack felt scammy and I just couldn't risk myself mining on there again and have all this happen over and over. Lets call out what really is going on here. Liability is mainly in the hands of Nicehash for not protecting users in the form of security, nor by making any of their mistakes right since. From what I am seeing they are actually trying to hold funds hostage now to push everyone back to their platform and I just don't think that is fair after all the hell users endured from this service lately.

Lets also face this, if you really mine, you know by now that direct mining on pools for coins without NH is pretty much the more profitable route. I don't understand why users ran back to NH in the first place unless maybe they don't want to take the time to learn how real mining works, but if you try to stick to the easy route in things, you tend to get stuck in positions you may not want to be stuck in.

My opinion is this, we all have already lost value on the funds locked up and lost through this incident over at NH through no fault of any user who pointed their hardware and wasted electricity on during that fateful week in December of 2017. Point blank, that money that is owed is ours, not Nicehash's and this push to make me have to mine their is not going to cut it, nor the threat to dust off my earned balance if I don't return in 30 days. This needs to be discussed very strongly by NH users to them or within the crypto community at large.

Failing the Decentralized

Lately I don't know what has happened to this space, maybe greed, maybe a little bit of growing pains but it seems issue after issue that has popped up in the last few months always tends to lead to a point out of areas where people and projects are forming centralized mindsets against the users underneath them. We are right now still trying to figure out the TETHER issue, got the Bitconnect scam that took many of us down and it just seems to be growing constantly to derail the progress of true decentralization that this was all meant to be in the first place.

This move by NICEHASH is a little disheartening to me, I would love to see new users have a simpler entry point into mining and NICEHASH did have that very setup up but this move and wording to con people to lend some hashpower for their own funds even if its not a lot is still a little concerning to this miner here for others. Me personally, I don't care about NH anymore or even spent a second on it since this hack. If they dust off my earnings due to that then I guess eventually I have hopes that that loss just educates myself and others to the fact that maybe we don't need these guys around anymore. I won't feed machines trying to pressure users by dabbling money that is rightfully theirs in front of them, nor will I back a centralized move to pump a system back up to save their own asses but I am pretty against the system of centralization in my life anyways.

I just hope users pay attention to this situation and how they are dealing with making things right with users that got hit hard before Christmas. Everyone has to make choices for themselves on who they back or what they will do for some funds but morally for me I feel a line has just been crossed enough to forget that NICEHASH exists anymore and I really thank the AWESOME MINER team for their creation because I have fed that program hundreds of pools and it has made my earnings and ease of use to be a legit miner so much better anyways.

My suggestion, raise hell if you do not feel right about the way this has been handled, hit that NH Twitter up with your voice, or blog your opinions out there. Lets get this back on track in crypto, get rid of scams, the constant greed games and become fully decentralized again, because I fear if we don't, then opportunities will dive bomb us down more and more. But its all in what you believe in also, that is the beauty of crypto, each one of us has a say in how we want this to form up for the future.

To all that are hit by this and the many other scams going on in crypto, hang in there....many of us are pushing back against them every day!!

~Sflaherty

Follow me @sflaherty